Shuttlers, a Nigerian shared mobility startup, has secured $4 million in equity funding led by Verod-Kepple Africa Ventures (VKAV), with follow-on investments from VestedWorld, SheEquity, CMC 21 & Alsa, and Echo VC.
The shared mobility startup plans to use the funding to accelerate our growth and transportation solutions in Nigeria.
Founded in 2016, Shuttlers is a platform that enables professionals to access efficient shared transportation. The firm helps transform the stressful time commuting to and from work into a productive, refreshing and relaxing experience.
Since inception, the startup has now raised a combined $5.6 million and, in the past 18 months has grown its fleet by 150% and expanded its operational route by 25x, with a 280% increase in passengers moved daily.
“We believe that shared mobility can have a transformative impact on our society, and we are committed to driving that change,” said Damilola Olokesusi, CEO, and co-founder of Shuttlers. “This additional funding will allow us to build the infrastructure we need to power mass transit and expand our reach to more communities in Nigeria.”
“We are excited to support Shuttlers in their mission to provide safe, reliable, and affordable transportation and shared mobility solutions to Nigerians,” said Ory Okolloh, Partner at VKAV. “We look forward to working closely with Shuttlers to help them achieve their goals.”
. “We are confident in Damilola, Akachukwu, and the Shuttlers team and the future growth and impact they will have on commuting,” said Nneka Eze, General Partner at VestedWorld. “We look forward to supporting their journey to revolutionize the transportation industry.”
