SHUTTLE raises $750,000 investment to transform the Bangladeshi transport scene

Shuttle, a mass-transit startup based in Bangladesh, has raised US$750,000 in a seed round, led by Accelerating Asia. Robi Axiata Limited (r-ventures), Impact Collective (The Ventures, South Korea) and Bangladesh Angels Network (BAN) are some of the investors that participated in the round in addition to angel investors from home and abroad including industry (logistics) experts. 

Shuttle is also eligible for receiving Impact Ready Matching Fund of up to $100,000 from the Biniyog Briddhi - a multi-year programme dedicated to supporting a thriving ecosystem where impact enterprises of Bangladesh can grow and scale their impact. Biniyog Briddhi is set up as a public-private development partnership (PPDP) between the Embassy of Switzerland in Bangladesh, Roots of Impact, and LightCastle Partners. Previously Shuttle raised a pre-seed round from Robi Axiata Limited and in total it has raised close to $1 Million so far. 

Shuttle provides the service in air-conditioned minivans, accommodating 10-11 people, who can safely commute together by paying less than one-fourth of ride-sharing cars. The company started its journey back in 2018 with a women-only service to solve a pressing issue in Bangladesh – the lack of safe transportation for women. The service proved to be remarkable, garnering impressive responses from female users, all across Dhaka. Shuttle currently has more than 20,000 women registered in their platform for the "Shuttle for Women'' service and has completed more than 1 million successful rides. 

Shuttle has recently extended its services further and incorporated "Shuttle for Business" in 2020. In the wake of Covid-19, this initiative aided organisations to ensure safe and sanitised transportation for their moving employees during the lockdown.