RushOwl, a Singapore-based ride-sharing platform, has successfully raised $10m in Series A funding to scale its dynamic ride-sharing services. The funding round was led by Gobi Partners, a pan-Asian venture capital firm, with participation from the Hong Kong Investment Corporation Limited (HKIC). The investment aims to support RushOwl’s expansion into new markets, including the Philippines, South Korea, and Malaysia.
Founded in 2018 by Shin Ng, Songyan Ho, and Kris Lee, RushOwl has developed a proprietary AI-based technology, RushOS, which optimises fleet utilisation and integrates with autonomous vehicles. The platform currently operates in Singapore, India, and Hong Kong, managing over 4,000 trips daily and serving 250,000 users. RushOwl’s technology has enabled a 50% reduction in carbon emissions and a 30% decrease in commute times compared to traditional public transport.
The company plans to use the new funding to expand its market presence and establish a research and development centre in Malaysia. Additionally, RushOwl aims to grow its B2B sales team and secure partnerships with fleet operators to licence its RushOS technology. Key partners already include Asia Pacific Breweries, CBRE, and Singapore’s Ministry of Education.
Clara Chan, CEO of HKIC, highlighted the investment’s alignment with Hong Kong’s future economic growth drivers, stating, “Our investment in RushOwl embodies this approach—supporting a company whose smart mobility solutions address urban and sustainability challenges.” Chibo Tang, Managing Partner of Gobi Partners, added, “RushOwl addresses urban challenges such as congestion and excess emissions whilst preparing for the future by developing technologies compatible with autonomous vehicles.”
RushOwl’s innovative approach to bridging the gap between private and public transportation positions it as a key player in the smart mobility sector across Asia.
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