Intercity mobility platform IntrCity SmartBus has raised ₹250 crore ($28 million) in a Series D funding round led by A91 Partners, marking a significant step in its expansion and technology development journey.
This funding comes after the company’s $4.5 million round from Samsung Venture Investment and other investors in February 2024. According to data intelligence platform TheKredible, IntrCity has raised nearly $80 million to date, with its last valuation pegged at around $110 million.
Strategic Growth and Expansion
The newly raised capital will be directed toward enhancing customer experience, advancing fleet management technology, and expanding operations across India’s tier-II and tier-III cities. The company aims to double its fleet size and cross ₹1,000 crore in turnover by next year.
Founded in 2019 by Kapil Raizada and Manish Rathi, IntrCity SmartBus operates as the bus division of RailYatri, providing standardized intercity bus travel through an asset-light model. Its buses are equipped with IoT-enabled devices that offer real-time tracking and operational data monitoring, ensuring transparency and safety.
Scaling India’s Intercity Travel Network
Currently, the company runs on over 630 routes across 15 states, serving millions of travelers monthly. Its sister platform, RailYatri, attracts 12 million monthly users for train bookings and travel insights.
Co-founder Kapil Raizada stated, “We continue to scale organically and profitably, maintaining 50% year-on-year growth. With A91 Partners onboard, we’re doubling down on our vision to redefine India’s intercity travel ecosystem.”
In FY24, IntrCity reported a 15.9% rise in operational revenue to ₹317.34 crore, compared to ₹273.9 crore in FY23. The company competes with Abhibus, Zingbus, Leafybus, and ixigo’s FreshBus, as it strengthens its leadership in India’s rapidly modernizing bus travel segment.
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