Mumbai's app-based bus service Cityflo raises ₹57 crore

App-based bus service Cityflo has raised ₹57 crore ($7.7 million) in Series A funding round led by Lightbox Ventures. It previously secured ₹3 crore in a seed round in 2019 from venture capital firm India Quotient and other angel investors. Founded in 2015 by six IIT Bombay graduates, the startup runs 160 buses in partnership with bus operators in Mumbai.