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Bangladesh-based Startup SHUTTLE Raises $750,000 Investment
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Bangladesh-based Startup SHUTTLE Raises $750,000 Investment 

Founded in 2018, SHUTTLE first came into the Bangladeshi transport scene as a safe traveling option. The company’s aim to accommodate safe travel for women-led them to acquire more than 20 thousand unique women users. Their program, “SHUTTLE For Women”, is very popular. And now, it has bagged a hefty $750,000 seed investment. 

Bangladesh-based Startup SHUTTLE Raises $750,000 Investment

SHUTTLE received the seed investment from firms like- r-ventures of Robi Axiata Ltd., Impact Collective of The Ventures from South Korea, BAN (Bangladesh Angels Network). This seed round was led by none other than Accelerating Asia. There were many more investors involved from both home and abroad, which included experts in industry logistics. 

This $750,000 investment raise is going to affect the Bangladesh-based tech startup to soar and reach new heights of success. Previously, the startup raised around $1 million in their pre-seed round which was also led by Robi Axiata Limited

The multi-transit startup SHUTTLE has also been declared eligible for $100,000; a dedicated and thriving program – Impact Ready Matching Fund. The funding is sponsored by Biniyog Briddhi, a PPDP (public-private development partnership). This initiative is in partnership with Lightcastle Partners, Roots of Impact, and the Embassy of Switzerland in Bangladesh

SHUTTLE runs a very efficient and convenient strategy. Their transportation mode consists of minivans. These vans can commute with 10/11 people where the cost is 1/4th of other ride-sharing transport companies. This leads to an average estimate of 30% cost-reduction on transport in transit for their users. 

SHUTTLE’s CEO and Co-founder, Reyasat Chowdhury has stated, 

“When we started, we figured out that different segments of people in society have different needs and priorities, and that one solution will not solve all of the problems.” 

The company has extended its reach and launched “SHUTTLE For Business” alongside “SHUTTLE For Women”. The business-focused ride programs saw a rise during the pandemic hit, the aim was to have safe and sanitized transport to employees who need to face the Dhaka commute. 

Read More : Two Global Tech Giant Google and Amazon Register for Business in Bangladesh

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