App-based bus service 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 companies 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, Lightbox Ventures.