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Shuttl $18m Series C: JMP, Themis, Link, Phoenix assist

Bus-shuttle service startup Shuttl has raised around $18 million (about Rs 128 crore) from Japan’s SMBC Trust Bank (acting as a trustee of Mirai Creation Fund II) and Toyota Tsusho Corporation, a unit of Toyota Group, according to the company’s filings with the Registrar of Companies.

Jerome Merchant & Partners advised Super Highway Labs Private Limited operating under the brand name Shuttl, which it had also advised on its Series B earlier this year. JMP was led by a team of partners Vishnu Jerome and Sameer Sibal along with associates Ravishankar M and Komal Parakh.

Themis Associates Bangalore advised the existing investors Sequoia Capital India Investments IV and SCI Investments V., led by partner Archan Chakraborty and principal associate Santosh Vijay.

Link Legal India Law Services New Delhi advised the existing investor Lightspeed India Partners, with partner Manish Gupta along with senior associate Ashish Ahluwalia.

Phoenix Legal Mumbai advised the existing investors MUGH 2 Limited, Karun Carpets Private Limited and Sabre Investment Consultants LLP, led by partner Sriram Ramachandran and associate Manasi Chandriani.

Deal value: $18 million (approximately 128 crores)


This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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