RushOwl raises US$10M in Collection A funding to gas Asia growth

Singaporean bus-sharing platform RushOwl introduced yesterday (Sep 3) that it has secured US$10 million in a Collection A funding spherical, aiming to spur higher progress in its B2B operations and speed up its growth into Asia.

First launched in 2018, RushOwl initially supplied on-demand shuttle providers via its cellular app, RushTrail, for commuters who lack entry to Singapore’s transport system.

Nonetheless, in a latest interview with Vulcan Publish, Shin Ng, CEO of RushOwl, shared that the enterprise has pivoted its operations into the B2B area, as leisure rides skilled a decline in demand.

The corporate has since partnered with organisations, together with corporates and faculties, equivalent to Asia Pacific Breweries, CBRE, and the Ministry of Schooling in Singapore.

To this point, RushOwl has powered greater than 1.5 million rides and manages over 4,000 journeys each day. At the moment, the corporate supplies its on-demand shuttle service in three territories: Singapore, India, and Hong Kong, the place it has been actively increasing to help town’s sensible mobility growth.

In line with Shin, RushOwl has skilled a three-fold year-on-year income improve in particular markets and an eight-figure topline in 2024.

With the funds acquired from the Collection A spherical, the corporate will broaden into extra markets, together with the Philippines, South Korea and Malaysia; and plans to open an R&D centre in Malaysia.

As well as, RushOwl may also use a portion of the funds to develop its B2B gross sales workforce, the place they are going to be tasked with securing partnerships with fleet companions and licensing RushOS, its AI-based dynamic routing algorithm, to them.

• Learn extra tales we’ve written on Singaporean companies right here.

Featured Picture Credit score: RushOwl