Cityflo, an app-based bus service provider, has raised ₹57 crore ($8 million) in Series A funding led by Lightbox Ventures along with existing investors India Quotient among others.
The Mumbai-based company said it will utilize the funds to expand and upgrade its operations, increase presence on heavy traffic routes and build the service as a go-to brand for Mumbai’s large working population. The firm will soon launch a facility for bus drivers to park their vehicles and rest.
Founded in 2015, Citiflo currently works with a total of 160 buses and provides services in Mumbai, Navi Mumbai and Thane. The company logs over 8000 bookings daily.
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