Dentsu, Inc. (President & CEO: Toshihiro Yamamoto; Head Office: Tokyo; Capital: 74,609.81 million yen) announced today that Dentsu Ventures Global Fund I (hereinafter "Dentsu Ventures"), the Company's corporate venture capital fund, has made an investment in Shuttl, a technology-enabled seat-based smart bus mobility service in India managed by Super Highway Labs Pvt Ltd (Head Office: Gurgaon City; CEO: Amit Singh).
Shuttl (shuttl.com) is a smart transportation service that offers a smartphone app enabling riders to reserve a seat on an air-conditioned shuttle bus that picks them up at their desired location. Seats can be secured at an affordable price, making Shuttl a comfortable and safe way to commute to work or school. Since its launch in 2015, the number of users has grown rapidly and the network of participating bus companies has expanded. At present, approximately 50,000 people use Shuttl each day across seven cities in India, with more than 700 buses in operation.
Going forward, Dentsu Ventures (dentsu-v.com) will support Shuttl's business expansion, which also contributes to improving traffic congestion and air pollution problems in large cities, while promoting new business development with Shuttl in the urban transportation area, including the development of new marketing solutions making use of commuter data and in-car media for shuttle buses during daily work and school commutes.
Profile of Shuttl
Name: Super Highway Labs Pvt Ltd (Shuttl)
Location: Gurgaon City, Haryana, India
Representative: Amit Singh, Co-Founder, Chief Executive Officer
Line of Business: Provision of technology enabled seat-based smart bus mobility service using a smartphone app
Profile of Dentsu Ventures
Name: Dentsu Ventures Global Fund I
Total Fund Capital: 10 billion yen
Date of Establishment: April 2015
Period of Operation: Ten-year period from April 2015 until March 2025
Investment Regions: Global investments with a focus on the U.S.A., Europe, Japan and Asia
Investment Stages: Balanced, wide-ranging investments with the focus on seed and early stage investments, but also including mid-stage and later-stage investments
Investment Areas: (1) Areas that can change the marketing and communication business in a broad sense (2) New areas other than the above that have a high potential for innovation.
Investment-related enquiries: E: info[.]dentsu-v.com.