Copyright indiatimes
Mobility startup IntrCity SmartBus has raised Rs 250 crore in a funding round led by A91 Partners, as the company looks to expand its presence in smaller cities and upgrade its fleet management technology.The round valued the Noida-based company at around Rs 1,200 crore, cofounder and CEO Manish Rathi told ET.The fresh capital will be used to improve customer experience, enhance safety features, and strengthen operations across tier-II and tier-III cities.“This investment will be used to further raise the bar on customer satisfaction, operational excellence, and service expansion. This will also help our operator-partners grow and monetise their asset portfolio faster with us,” said Rathi.The company, which runs an asset-light bus network, plans to double its fleet size and is targeting a Rs 1,000 crore turnover in the next fiscal year. The company is expecting to end this fiscal with revenue in the range of Rs 700-720 crore and is currently profitable, Rathi added.Founded in 2019, the firm operates intercity bus services across India through a network of partners operating long-distance routes. The company provides technology and standardised branding while local partners own and run the buses. It offers services such as online booking, GPS tracking, real-time updates, and safety checks. Its companion brand RailYatri provides train travel information, serving more than 12 million users per month.IntrCity, which operates over 630 routes across 15 states, said its revenue continues to grow about 50% on-year.“We are delighted to partner with Kapil, Manish, and the IntrCity SmartBus team. They have built a trusted, pan-India brand through exceptional quality, consistency, and customer service. This provides a platform to build a category-defining leader in inter-city mobility,” said Gautam Mago, general partner, A91 Partners.
