Deals round-up: Trifecta Capital invests $1 million in bus aggregator Shuttl
In July, Shuttl raised $11 million in a Series B round led by Japan’s Dentsu Ventures and Amazon’s Alexa Fund
Bus aggregator Shuttl, run by Super Highway Labs Pvt. Ltd, has raised $1 million from venture debt provider Trifecta Capital, said Rahul Khanna, Trifecta’s co-founder and managing partner. “The company solves a real problem, and its ability to scale and a potential life time value attracted us to the company,” said Khanna. In July, Shuttl raised $11 million in a Series B round led by Japan’s Dentsu Ventures and Amazon’s Alexa Fund. In 2015, it had raised a $20 million Series A round from Lightspeed Venture Partners, Sequoia India and Times Internet Ltd.
Shuttl was founded in April 2015 by Indian Institute of Technology (IIT)-Delhi alumnus Amit Singh and IIT-Kanpur graduate Deepanshu Malviya. It has a fleet of 600 buses and provides services across 50 routes comprising about 30,000 rides a day. Currently, the service is available only in Delhi-NCR.
EbixCash acquires B2B trucks start-up Routier
Ebix, an international supplier of software and e-commerce services said Tuesday that an Indian unit of EbixCash has acquired a 67% stake in Routier, a Delhi-based B2B marketplace for trucking logistics, for an undisclosed amount.
Routier’s online cloud-based logistics marketplace connects companies requiring goods to be delivered (shippers).
“Routier recently secured multi-million-dollar commitments from a few large multinational corporations, and thus needed the backing of Ebix in terms of technology expertise, manpower and working capital to implement and scale these and other opportunities,” said Robin Raina, president, chairman and CEO, Ebix.Routier was founded by Indian Institute of Management (IIM)-Lucknow alumnus Ankur Dahiya and Adwait Dahiya Singh of the Harvard Law School.
Education startup GuruQ raises Rs 2.5 crore from HNIs in pre-series A round
GuruQ, an education technology start-up providing online and offline tutoring, said on Thursday that it has raised ₹2.5 crore in a pre-Series A round from a group from high net-worth investors. The company will use the funds to expand its operations in Punjab and Haryana. It will offer services across Ambala, Rohtak, Karnal, Meerut, Hisar, Ludhiana, Amritsar, Jalandhar and Chandigarh. “The company’s research indicates that these areas have a wide gap between a good teacher-student connect,” it said in a statement.
Minal Anand, who founded the startup in 2016, said: “We are delighted to have investors that understand and believe in our vision and passion. This funding is a significant milestone in allowing us to expand the business, strengthen development and create value in the market with new features.”
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