To scale ride-sharing service in APAC, US $500K raised by Singapore-based RushOwl
According to Vulcanpost, RushOwl, a Singapore-based smart mobility business, has secured S$650,000 (US $479,000) in a seed financing round headed by Silicon Solutions Partners, an investment organisation focused on servicing and growing smart city firms.
Seeds Capital (the investment arm of Enterprise Singapore) and Workplace Accelerator are among the other supporters (an HRtech accelerator).
RushOwl intends to use the funds to expand its ride-sharing service RushTrail throughout the Asia Pacific, particularly into large markets such as Vietnam and India by 2022.
To support the company’s smart commuting environment, the RushTrail app will be connected with electric car networks and other mobility goods.
RushOwl, which was founded in 2018, collaborates with fleet owners, smart cities, and governments all around the world to deliver on-demand shuttle trips. Its goal is to create digitised transportation infrastructure that allows commuters to share rides in a flexible and environmentally responsible manner.
“We believe that our service will scale exponentially in 2022 because more people are looking at how they can reduce their carbon footprints through their everyday rides,” said Shin Ng, Co-Founder and CEO of RushOwl.
“Our goal is to help cities tackle inaccessibility, road congestion and air pollution through shared mobility leveraging on our technology and traction”, Ng said.
The smart mobility company links first-mile and last-mile travels of passengers based on their particular schedules via the RushTrail app by merging ride requests using routing algorithms and applying AI to automate transportation arrangements.
According to the company, it facilitates over 3,000 daily excursions around the island. It boasts of a 400 percent increase in ridership since the outbreak of the epidemic, as commuters seek an alternative mode of transit from home to work.
For organisations wishing to build more effective and flexible worker commute plans, RushOwl also offers a corporate solution. This may be used as a bonus for employees, resulting in improved performance and job retention.
In a recent public procurement organised by Sentosa Development Corporation, the firm apparently acquired an employee transportation contract for over S$700,000 (US $516,000).
