In a country like India, where traffic congestion is a daily ordeal, two IIT graduates dared to dream of a better way to commute and launched a reliable and convenient bus aggregator platform. Amit Singh and Deepanshu Malviya founded Shuttl in 2015 that offers space-efficient, safe, and cost-effective solutions for modern commuters in India. In this blog, we will uncover the entire journey of Shuttl so far and understand how its founders managed to establish such a big network.
How Did It Begin?
Shuttl’s journey of becoming India’s largest bus aggregator platform started in 2014 when two IITians Amit Singh and Deepanshu Malviya used to work for an e-commerce brand – Jabong. At that time, the duo eagerly wanted to start their own venture which eventually led them to quit their jobs. After leaving Jabong, they began their entrepreneurial journey by first launching a mobile content platform and later tried their hands at inter-city cab services.
However, both of their initial projects failed to take off. Despite the failure, Amit and Deepanshu didn’t lose hope and kept looking for new opportunities. After a lot of market research, the duo found a gap in the travel industry and came to know about the problem faced by commuters in Delhi NCR every day. They realised how people were usually forced to travel in crowded buses and there were no convenient and reliable solutions available for them.
This entire experience was quite stressful for them. So, they decided to start a pilot project wherein the founders hired a couple of cars and launched a basic app named Shuttl in 2015. With reserved seats, comfortable rides and reliability, the word soon spread and Shuttl soon started getting more requests from regular commuters and working professionals.
Obstacles In The Road
The road to success was far from smooth for Shuttl and its entire team. After their inception in the market, the company suffered a big loss of $8.21 million in fiscal year 2015-2016. Besides this, the company also faced various regulatory issues with state governments.
Notably, the transport department of Delhi impounded over 50 Shuttl buses for permit violations. Not only this, the department also threatened its founders for ‘illegally’ plying buses in the capital city. A senior official from the State Transport Ministry also conceded that these private buses are used as contract carriers and cannot pick up individual passengers as it leads to safety concerns.
From securing permits and licenses to ensuring compliance with stringent safety standards, the legal and regulatory hurdles enforced by Delhi government threatened to derail Shuttl’s ambitious plans. However, through their strategic partnerships and relentless advocacy, Amit and Deepanshu somehow managed to overcome these challenges and pave the way for its expansion.
Success Of Shuttl
Despite the obstacles, Shuttl’s perseverance began to pay off. As more and more commuters embraced the convenience and affordability of its services, the company witnessed exponential growth. Additionally, word-of-mouth endorsements and positive reviews further fueled the momentum, propelling Shuttl to new heights of success. Today, the brand has become one of the largest bus aggregator platforms in India.
The company surpassed Rs 100 crore benchmark in revenue in March 2019, clocking a 123% year-on-year growth compared to INR 44.8 crore revenue in FY18. Shuttl claims to have a rider ship of more than 1 lakh rides per day across top six cities of India.
It currently has a network of over 350 shuttle routes, operating 1,800 buses across several different locations. With millions of satisfied riders and a rapidly expanding presence across multiple cities, the company has cemented its position as a leader in the urban transportation space.