Bus service startup Cityflo raises Rs 57 cr from Lightbox Ventures, others

App-based Cityflo, which provides commutes to corporate professionals in Mumbai, has raised Rs 57 crore in Series A funding led by Lightbox Ventures, India Quotient and other angel investors also participated in the round.

The startup aims to utilise the amount raised to expand services on current and new routes, and strengthen its position as a daily commute brand for the city’s working professionals. The brand is also working towards skilling drivers with regard to customer service etiquette, soft skills and grooming, among other aspects.

“Cityflo was founded with the vision of solving the problem of long and stressful office commutes for professionals in our cities. Our goal was to offer a commute option that is convenient, comfortable, and seamless. This means passengers can catch up on their work, sleep, or a Netflix series that was left in the middle. The pandemic has further underscored how essential it is to bring this kind of an offering to people,” said Jerin Venad, co-founder, Cityflo.

It has adopted an asset light model, partnering with bus operators, and is more than doubling in scale every year. It currently works with a total of 160 buses and provides dedicated employee transport to essential service in the post-pandemic environment.

“Cityflo holds a lot of promise as a brand for working professionals who fight traffic for hours every day and incur costs in terms of time,” said Siddharth Talwar, partner,

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Leave a Reply