IntrCity SmartBus announced that it has closed an INR 250 Cr Series D round, led by A91 Partners. The company plans to use the investments towards improving the customer travel experience, upgrading the fleet management technology platform, and providing deeper and wider coverage to Tier-2/Tier-3 cities. The company is on track to double its fleet and target an INR 1000 crore turnover by next year.
“IntrCity SmartBus has emerged nationally as the top-ranked brand amongst bus travellers, known for its professionalism, punctuality, comfort and reliability of operations. The brand continues to scale-up organically & profitably and is projected to maintain its 50% y-o-y growth this year. We are excited to onboard A91 Partners in the next phase of our journey, and this new capital enables us to further double down on our vision to transform the bus-travel landscape in India”, said Kapil Raizada, Co-founder & President, IntrCity SmartBus.
“I would like to thank the millions of travellers who have placed their trust in us, and this investment will be used to further raise the bar on customer satisfaction, operational excellence and service expansion. This investment will also help our operator-partners to grow and monetize their asset portfolio faster with us. We welcome A91 Partners in the next phase of our pursuit of redefining growth of ground travel in India”, said Manish Rathi, Co-founder & CEO, IntrCity SmartBus.
“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. We look forward to working with them to grow the company to even greater heights,” said Gautam Mago, General Partner at A91 Partners.
