Bus ticketing startup Chalo acquires Covid-hit Shuttl in all-cash deal

Chalo and Shuttl have a presence in 33 cities across 12 Indian states including Delhi NCR, Karnataka, Kerala and others

Online bus ticketing startup Chalo has acquired Shuttl, a bus aggregator for office commute, in an all-cash deal. The amount was not disclosed.

While Chalo has raised $47 million from investors like Lightrock India, Waterbridge and Filter Capital, Shuttl has attracted $122 million till date from the likes of Amazon, Sequoia and Lightspeed India, according to data from Crunchbase.

Prior to Covid-19, Shuttl had a presence in large Indian metros like Delhi NCR, Kolkata, Hyderabad, Pune, and Mumbai, and international cities like Bangkok, and was fulfilling about 100,000 rides daily through its 2,000 buses.

But as demand for bul travel fell off the