Gobi Partners and HKIC Back $10M Series A for RushOwl’s Regional Growth

Singaporean mobility startup RushOwl has secured US$10 million in Series A funding to scale its ride-sharing platform and extend its presence across Asia. The round was spearheaded by Gobi Partners, with additional backing from the Hong Kong Investment Corporation Limited (HKIC).

HKIC, a government-owned institution focused on driving long-term economic growth through innovation and sustainability, joined as an investment partner of Gobi in this round. The fresh capital will support RushOwl’s push to scale its AI-powered, low-carbon commuting solutions across the region.

RushOwl currently operates in Singapore, India, and Hong Kong, offering on-demand shuttle services that support urban mobility needs. With the new funding, the company plans to expand into the Philippines, South Korea, and Malaysia, alongside establishing an R&D centre in Malaysia to strengthen its product development capabilities.

The startup’s core technology is RushOS, an AI-driven dynamic routing system that combines trip requests into shared, carbon-efficient rides. Unlike traditional routing platforms, RushOS is built with readiness for autonomous vehicle integration, with a focus on asset optimisation and delivering sustainable returns.

Founded in 2018 by COO Kris Lee, CTO Songyan Ho, and CEO Shin Ng, RushOwl has provided over 1.5 million rides to date and now operates more than 4,000 trips each day. Its mobile platform, RushTrail, serves a community of about 250,000 users, mainly students and employees, offering commutes that are on average 30% faster than standard public transport.

RushOwl reports that its service can cut carbon emissions by up to 50%, with each shared journey replacing more than three private vehicles. This environmental benefit aligns with the growing demand for sustainable mobility solutions across Asian cities.

RushOwl operates largely on a B2B model, working with organizations such as the Ministry of Education, CBRE, and Asia Pacific Breweries. The company has established a strong revenue foundation, securing annual contracts worth eight figures, most of which span two years or longer.

According to CEO Shin Ng, the company was built to address urban accessibility challenges faced by both developed and developing cities. He noted that building new public transport systems often requires billions in infrastructure spending, creating opportunities for flexible, tech-driven mobility platforms like RushOwl to fill the gap.

On the investor side, Gobi Partners backed the round through three of its managed funds spanning Hong Kong and Malaysia, underscoring the cross-border potential of RushOwl’s strategy. HKIC CEO Clara Chan said the investment reflects the institution’s “investment+” approach, supporting companies tackling urban and sustainability challenges. Chibo Tang, Managing Partner at Gobi Partners, added that RushOwl’s technology directly addresses congestion and emissions while preparing for an autonomous future.