Shuttlers, a Nigerian mass transit startup, has raised an additional $4 million in equity funding to accelerate the growth of its transportation solution. Shuttlers allow commuters to travel comfortably at affordable rates and manage their schedules through the subscription feature.

The startup has raised a total of $5.6 million, including a seed round of $1.6 million in November 2021.

The latest Series A funding was led by Verod-Kepple Africa Ventures (VKAV) and includes investments from VestedWorld, SheEquity, CMC 21 & Alsa, and EchoVC.

The funding will be used to expand to other cities in Nigeria, build infrastructure for mass transit, and provide employee transportation for more corporates. Shuttlers has grown its fleet by 150% and expanded its routes by 25x in the past 18 months. The company has built a loyal customer base in Lagos and is rapidly expanding its services.

The mobility startup was founded in 2016 by Damilola Olokesusi, Shuttlers allows commuters to move in comfort along selected routes at affordable rates. Commuters are able to take charge of their schedules with Shuttlers’ subscription feature, which enables them to book rides in advance over an extended period of choice.

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“We are thrilled to have VKAV, VestedWorld, SheEquity, CMC 21 & Alsa, and EchoVC as partners in our mission to transform the mass transit experience around the world,” said Olokesusi. “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 believe that shared mobility can have a transformative impact on our society, and we are committed to driving that change.”

“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. 

“Their commitment to creating impact aligns with our vision for investing in entrepreneurs who are solving significant challenges and companies who have a positive impact on society. We look forward to working closely with Shuttlers to help them achieve their goals.”