Chalo has acquired the corporate-backed shuttle bus aggregator, which had raised roughly $120m from investors including BCC, Amazon, Dentsu, Toyota, Sojitz, SIG and Compound Partners.
Mass transport tracking app provider Chalo has acquired Shuttl, an India-based, corporate-backed shuttle bus provider in an all-cash transaction of undisclosed size, the Economic Times reported yesterday.
Shuttl’s shareholders have all exited, sources privy to the matter told ET. The company had raised about $120m in equity funding altogether.
Founded in 2015, Shuttl runs fleets totalling some 2,000 buses across Indian cities including Delhi, Kolkata, Hyderabad, Pune and Mumbai. It also had operations in the Thai capital of Bangkok before…
