About Shuttl
Shuttl is a Transportation, Automotive & Logistics company based in Gurugram (India) founded in 2015, and was acquired by Chalo in October 2021. It operates as a provider of shared and private shuttle services for airport transportation and intra-regional travel. Shuttl has raised $106.11 million across 12 funding rounds from investors including Chalo, Times Internet and Motherson. The company has 2 employees. Shuttl was last valued at $174.81 million in March 2019. Its Indian entity Super Highway Labs Private Limited reported revenue of ₹5.21 Cr. Its focus areas include Consumer, Road Transport Tech, Mass Transit and Shuttle.
Company details
Founded in 2015 and based in Gurugram, India, operations in the transportation sector are conducted through shared and private shuttle services for airport transfers and intra-regional journeys. Scheduled routes linking residential areas to employment hubs are maintained with a bus fleet. Technology is employed to handle route planning, scheduling, and passenger reservations. Congestion relief and affordable options to private cars are facilitated in urban settings.
- Headquarters Gurugram, India
- Employees 2
- Stage Acquired
- SectorsTransportation, Automotive & Logistics
- Website ride.shuttl.com
- Social X
- Acquired by Chalo (Oct 2021)
- Legal Name Super Highway Labs Private Limited
- Date of Incorporation 10 Apr, 2015
- Jurisdiction New Delhi, Delhi, India
Associated legal entities of Shuttl
Shuttl operates through Super Highway Labs Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Super Highway Labs Private Limited CIN U74140DL2015PTC278950 | Active | 10 Apr 2015 | New Delhi, Delhi | ₹5.2 Cr | 2 | 2 | View details |
Funding Insights of Shuttl
Shuttl has successfully raised a total of $106.11M across 12 strategic funding rounds. The most recent funding activity was a Series C round of $3.34 million completed in February 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $106.11M
- Total Rounds 12
- Last Round Series C — $3.34M
- First Round $172,219
(May 2015)
- Investors Count 27
Latest 10 of 12 funding rounds of Shuttl with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb 2020 | $3.34M | Series C | – | Sojitz | – |
| Jan 2020 | $8.03M | Series C | – | – | |
| Oct 2019 | $42.06M | Series C | – | Moving Capital | |
| Mar 2019 | $18.21M | Series B | $174.81M | Alter Domus, PROOF | |
| Jan 2019 | $1.41M | Debt – Venture | – | – | |
| Jan 2019 | $184,698 | Series B | $119.41M | Trifecta Capital | – |
| Oct 2018 | $1M | Debt – Venture | – | – | |
| Oct 2018 | $119,048 | Series B | $••••• | Trifecta Capital | – |
| Jul 2018 | $11M | Series B | $••••• | Alexa Fund | |
| Dec 2015 | $20M | Series A | $••••• | Lightspeed Venture Partners |
| Date | Valuation | Stage |
|---|---|---|
| Mar 2019 | $174.81M | •••••••• |
| Jan 2019 | $119.41M | •••••••• |
| Oct 2018 | $••••• | •••••••• |
| Jul 2018 | $••••• | •••••••• |
| Dec 2015 | $••••• | •••••••• |
Full valuation and stage history of Shuttl
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
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Verified entity values are shown only after access is granted.
Last known valuation $174.81M (Mar 2019). 28 investors in total: 19 institutional and 9 angel.
Investors in Shuttl
Shuttl has secured backing from 28 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Chalo, Times Internet and Motherson.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital firm focused on seed and late stage investments | – | sig-asiavc.com | Hong Kong, China | |
Early-stage technology companies are funded by this venture capital firm. | – | proof.vc | Reston, United States | |
Venture capital investing in innovative companies across global sectors is undertaken by Lightspeed Venture Partners. | 1997 | lsvp.com | Menlo Park, United States | |
Sequoia Capital is engaged in venture capital investments. | 1972 | sequoiacap.com | - | |
Private debt and equity funds are managed for technology sectors. | – | trifectacapital.in | Gurugram, India | |
Private equity investments in financial services, fintech, healthcare, and healthtech sectors in India. | 2002 | sabre-partners.com | Mumbai, India | |
Venture capital firm investing in global startups with a focus on innovation and business support. | – | dentsu-v.com | - | |
- | – | developer.amazon.com/alexafund | - | |
Venture capital funding and support for mobility and electric vehicle startups in India. | 2015 | advantedge.vc | Delhi, India | |
Services across automobiles, energy, and resource sectors are offered globally. | 2003 | sojitz.com | Tokyo, Japan |
Investor details for Shuttl
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
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Verified entity values are shown only after access is granted.
Board of directors of Super Highway Labs Private Limited (Shuttl)
Super Highway Labs Private Limited is the primary company behind Shuttl. The board of Super Highway Labs Private Limited currently have 2 directors; the longest-serving is Deepanshu Malviya, appointed in 2015. 6 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Deepanshu Malviya DIN 06941892 | Whole-time director | 10 Apr 2015 | 11 yrs 6 mo | Super Highway Labs Private Limited |
| Amit Kumar DIN 03402447 | Whole-time director | 10 Apr 2015 | 11 yrs 6 mo | Super Highway Labs Private Limited |
Financials of Shuttl
Figures of Super Highway Labs Private Limited, the primary company behind Shuttl, for FY 2024. Revenue was ₹5.21 Cr (+121% year on year). Net profit was ₹1.75 Cr (34% margin). EBITDA was ₹1.92 Cr (37% margin). Revenue has grown at a compounded annual rate of -46% over three years and -45% over five years.
- ₹5.21 CrRevenue · FY 2024 · +121% YoY
- ₹1.75 CrNet profit · 34% margin
- ₹1.92 CrEBITDA · 37% margin
- ₹38.8 LakhPaid-up capital
- 2Employees (provident fund records)
- -46%Revenue CAGR, 3 years
- -45%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Super Highway Labs Private Limited are on its company page.
Detailed financial statements for Shuttl
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
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- Downloads
Verified entity values are shown only after access is granted.
Timeline of Shuttl
5 dated milestones of Shuttl across 6 years, from founding to its latest funding, stage changes and deals.
- Founded Shuttl is founded.
- Funding First funding round of $172K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series C, of $3.3M.
- Exit Acquired by Chalo.
Top companies in Road Transport Tech
10 companies that operate in the same segment as Shuttl (Road Transport Tech), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Ride-hailing and on-demand delivery services are aggregated via mobile app. | 2012 | Singapore, Singapore, Singapore | USD 10.38 B | USD 3.37 B | 57,733 | |
An online platform providing ride-hailing and food delivery services | 2009 | San Francisco, California, United States | USD 13.21 B | USD 52.02 B | 34,000 | |
Ride-hailing, electric vehicles, and financial solutions are provided via app. | 2010 | Bengaluru, Karnataka, India | USD 3.83 B | USD 278.63 M | 2,473 | |
Electric kick-scooters are rented through an app-based platform. | 2017 | Miami, Florida, United States | USD 765 M | USD 244.66 M | 953 | |
Operator of a bike taxi aggregation service, offering intra-city travel and first-mile, last-mile connectivity solutions | 2015 | Bengaluru, Karnataka, India | USD 798.05 M | USD 19.11 M | 817 | |
Rides and deliveries are facilitated via a mobile app platform. | 2012 | Dubai, Dubai, United Arab Emirates | USD 771.7 M | – | 6,360 | |
Electric kick-scooters are rented through an app-based platform. | 2017 | San Francisco, California, United States | USD 1.4 B | – | 2,813 | |
Electric ride-hailing and cab services are provided via mobile app. | 2019 | Mumbai, Maharashtra, India | USD 168.52 M | – | – | |
Bus tickets are booked online via portal and mobile app. | 2006 | Bengaluru, Karnataka, India | USD 10 M | – | – | |
App-based ride-hailing aggregator | 2007 | San Francisco, California, United States | USD 5.02 B | USD 6.32 B | 3,913 |
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Frequently Asked Questions about Shuttl
Shuttl was founded in 2015.
Shuttl is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Shuttl is a funded company, having raised a total of $106.11M across 12 funding rounds to date. The company's 1st funding round was a Series A of $20M, raised on May 2015.
Shuttl has 2 employees.
The primary company behind Shuttl, Super Highway Labs Private Limited, reported revenue of ₹5.21 Cr for FY 2024, up 121% year on year.
Founded in 2015 and based in Gurugram, India, operations in the transportation sector are conducted through shared and private shuttle services for airport transfers and intra-regional journeys. Scheduled routes linking residential areas to employment hubs are maintained with a bus fleet. Technology is employed to handle route planning, scheduling, and passenger reservations. Congestion relief and affordable options to private cars are facilitated in urban settings.
Shuttl has 28 investors. Key investors include Chalo, Times Internet, Motherson, Lightspeed Venture Partners, and Toyota Tsusho.
The valuation of Shuttl is $174.81M as of Mar 2019.
Shuttl operates through Super Highway Labs Private Limited.
Yes. Shuttl was acquired by Chalo in October 2021.
The legal entities of Shuttl currently have 2 directors, including Deepanshu Malviya, Amit Kumar.