Shuttlers, a Nigerian shared mobility platform, has raised $4 million in funding led by Verod Kepple Africa Ventures to enhance its innovative transportation solutions in Lagos.

Information on the Target

Shuttlers, a Nigerian shared mobility platform, has successfully raised $4 million in a recent funding round led by Verod Kepple Africa Ventures (VKAV), a venture capital firm focused on Pan-African investments. This funding round also saw participation from follow-on investors including Vested World, which previously contributed $1.6 million to the startup 18 months ago, along with other backers such as ShEquity, CMC 21 & Alsa, and EchoVC.

Since its inception in 2016, Shuttlers has transformed employee commuting in Lagos — the most populous city in Africa. The platform enables professionals to access efficient shared transportation, significantly alleviating the challenges posed by the city's congested roads, carbon emissions, and limited transportation options.

Industry Overview in Nigeria

The transportation industry in Nigeria faces multiple challenges, compounded by rapid urbanization and a robust increase in population density, particularly in cities like Lagos. Daily commuters often experience lengthy