Shuttlers, a Nigerian tech-enabled, scheduled mass transit firm, has raised an additional $4 million in equity funding to expand its transportation solution. Founded in 2016, Shuttlers provides affordable and comfortable transportation along selected routes and users can book rides in advance over an extended period using its subscription feature.
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Following its $1.6 million seed round in November 2021, Shuttlers has raised a $4 million Series A, led by Verod-Kepple Africa Ventures (VKAV), a leading pan-African-focused venture capital firm. The funding also includes follow-on investments from VestedWorld, SheEquity, CMC 21 & Alsa and EchoVC.
The new funds will enable Shuttlers to create infrastructure to power mass transit in Nigeria, build on its dominance as Lagos’ leading shared-mobility provider, expand its services to other cities within the country and provide employee transportation for more corporations.
