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India’s Chalo acquires Amazon-backed bus aggregator Shuttl

Chalo, a startup that is digitizing bus commutes in India and which recently raised $40 million in a financing round, has acquired Amazon-backed app-based office commute bus aggregator Shuttl in an all-cash deal, the two said on Tuesday. Chalo founder and chief executive Mohit Dubey said the acquisition of Shuttl, which operates thousands of buses aimed at working professionals, will help his startup gain presence in many parts of the country including metro cities, broaden the technology and product offerings, and also supercharge the the firm’s overseas expansion efforts. Dubey declined to disclose the financial terms of the deal, but said Shuttl co-founder and chief executive Amit Singh has agreed to continue his journey.

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