Shuttlers drives off with $4M for shared mobility service

Shared mobility company Shuttlers has raised $4 million in funding.

The Nigeria-based company says the investment will go towards route expansion and technology development.

In a blog post, Damilola Olokesusi, co-founder and CEO of the company, says it has also struck a partnership providing it with access to hundreds more buses as it grows from its current 300 routes.

The investment was led by Verod-Kepple with Vested World, Echo VC, CMC 21 & Alsa and SheEquity also involved.

Shuttlers has spent the past six years building up its business from aggregating a fleet of buses to developing routing algorithms as well as a partner dashboard and a mobile app for booking and payment.

It offers public transport as well as corporate mobility solutions.

Olokesusi says: “We believe that mass transit is the bedrock of any economy. It is the backbone that enables people to move from one place to another for work, leisure, education and more. It is a vital component of the infrastructure that connects people, communities and businesses, driving economic growth and development.”

Shuttlers has raised a total of $5.6 million, having raised seed funding of $1.6 million in late 2021.