Edticket has raised Series A funding for its children’s shuttle bus sharing service Shuttle Tayo from YellowDog, BonAngels Venture Partners, and American VC firm Collaborative Fund.
Launched in October last year, Shuttle Tayo is a “shared economy” service for kindergarten and academy buses that helps reduce costs for businesses and increases safety for students. It was launched to help support educational institutions that struggle to maintain older vehicles and don’t have enough staff to act as safety monitors on each bus, as required by law.
Shuttle Tayo buses come with their own drivers and safety monitors, and the sharing of vehicles can be managed by institutions through a scheduling and management system. Academies and kindergartens already using the service are seeing big savings, as they are able to operate shuttle buses at just 30% of what it would normally cost. So far, 100% of Edticket’s clients have resigned contracts for Shuttle Tayo.
“Since launching the service, we’ve received a lot of enquiries about using the service from academies around the country. Using this funding, we plan to expand our current service focused in Seoul and Gyeonggi areas to the rest of the country,” says CEO of Edticket, Son Hongtak
Bang Ju-yeong, Director of YellowDog, also commented on the investment. “YellowDog funds companies that create positive social value with shared economy models and cooperative consumerism. For this reason we decided to invest in Edticket as we agree with the value that the company is pursuing,” said Bang.
Edticket previously took part in social venture accelerator Sopoong in 2016 and was selected to move into government sponsored incubator D.Camp at the beginning of this year. Shuttle Tayo currently operates 25 vehicles in eight different areas within Seoul and Gyeonggi Province.
For more information, read our previous article about Shuttle Tayo that we published in March.
