Shuttle, a Bangladesh-based transportation business, has secured US $1.5 million in a fresh fundraising round that was spearheaded by South Asia Tech. Startup Bangladesh Limited, a government-backed company, Bangladesh Angels Network, and Accelerating Asia also participated.
With the acquisition, the company’s total capital raised to far increased to US $2.5 million.
Shuttle was established in 2018 and has the capacity to carry up to 11 passengers to a single location. Additionally, it features B2B products that enable businesses to offer daily commutes for their employees.
It presently has over 50 business clients and 30,000 registered users.
Reyasat Chowdhury, Jawwad Jahangir, and Shah Sufian founded the shuttle. It received US $750,000 in a seed fundraising round last year that was headed by Accelerating Asia.
The company intends to use the additional funds for employee hire and product development.