Mobility Startup Shuttlers Raises $1.6M To Broaden Throughout Africa
Nigeria’s main tech-enabled scheduled bus sharing (mass transit) firm, Shuttlers, as we speak introduced a $1.6 million seed spherical and its plans to scale operations into different cities throughout Africa. This new funding spherical was led by VestedWorld, a Chicago and Africa-based funding agency with Interswitch, Rising Tide Africa, Launch Africa, EchoVC, CMC 21 & Alsa, ShEquity, Five35, Consonance Funding, CcHub Syndicate, Sakore, and Nikky Taurus additionally collaborating on this spherical.
Shuttlers has led the revolutionization of shared mobility by way of its progressive options and repair choices. With Shuttlers, clients now have the choice to commute in consolation and at an reasonably priced charge on scheduled and predetermined routes. With the subscription function on Shuttlers, commuters can schedule rides upfront over a time period they select.
Commuters also can guide journeys alongside fastened routes at 80 % decrease charges than different ride-hailing providers with out the surges and peak-period pricing – which is the primary of its sort in Nigeria and Africa.
Damilola Olokesusi, Co-founder and CEO of Shuttlers, launched the corporate in 2016 to sort out the inevitable downside of inefficient transportation in cities like Lagos, Africa’s most populous metropolis & Nigeria’s socio-economic nerve middle. Damilola and her staff have since bootstrapped the enterprise and grown it from one route in Ajah to Victoria Island to over thirty (30) routes with over 300 bus-stops, over 100 (unbranded) buses inside the metropolis and, has recorded over 2 million journeys taken by commuters. We will solely think about how far Shuttlers’ staff plans to go along with their first spherical of funding.
Talking on the necessity for Shuttlers and its mission, Damilola Olokesusi acknowledged: “Our mission at Shuttlers is to remodel the way in which individuals commute around the globe, by constructing a world associate community and connecting communities of shuttlers like we’re presently doing in Lagos, Nigeria.. The detrimental impression of inefficiencies within the mobility house is seen within the high quality of life, psychological well being, and work productiveness of commuters. We additionally see its impression on the extra susceptible and uncared for inhabitants in our society; girls, kids, bodily challenged, and the aged. I’m assured that our good mobility options can resolve a few of these city mobility challenges sustainably and in addition cut back carbon emission.
We will’t deny the truth of public transportation in cities like Lagos. We are going to all the time be dedicated to our objective of enabling professionals in metropolitan cities throughout Africa to entry a stress-free and reasonably priced transport system for his or her day by day commute wants.
As commuters settle into the brand new regular and seek for safer and cost-effective methods to maneuver submit the global-pandemic, we’ve got expanded our choices to offer community-focused transportation options. We may even proceed to discover possible options tailor-made in direction of the general enchancment of the cities’ transport system”, stated Damilola.
Nneka Eze, Managing Director at VestedWorld, stated, “We consider our funding will assist Shuttlers lengthen its providing to adjoining markets and assist resolve inefficiencies within the transportation sector throughout areas in Africa.” Lavanya Anand, Principal at VestedWorld, added “We’re very excited to again Damilola on this enterprise and work alongside a bunch of dedicated monetary and strategic traders to scale this additional.”
The corporate will make investments this spherical into scaling its operations to different cities throughout Nigeria, earlier than increasing to different areas in Africa. The corporate may even look to enhance and ease its processes and resolve current inefficiencies with entry to extra technological options.