M&A

M&A

Bus aggregator Shuttl to wind up ops; eyes M&A opportunities

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Gurugram-based mobility firm Shuttl, which has begun winding up its operations, is exploring merger and acquisition opportunities. The company has started shutting down its operations and has laid off most of its employees. It is left with some funds and eyeing M&A opportunities with larger firms in this space. Shuttl had raised about USD 90 million in equity and debt capital from investors such as Toyota Tsusho Corporation, Sequoia, Lightspeed, Amazon and Dentsu.