IntrCity by RailYatri has raised Rs 100 crore in a funding round led by Nandan Nilekani and Samsung Venture Investment. This round also saw participation from other existing investors, Omidyar Network and Blume Ventures. With this, the intercity mobility startup has so far raised a total of $30 million.
IntrCity by RailYatri offers multi modal intercity mobility through its IntrCity SmartBus branded fleet of buses.
Nandan Nilekani, one of the early backers of this venture stated, “We are impressed by the rapid momentum of IntrCity RailYatri and it is on a successful path to create the scale which a leader in inter-city mobility deserves. This initiative will be of great benefit and convenience to millions of domestic intercity travellers.”
With the latest round of funding, IntrCity will expand its IntrCity SmartBus network and enhance its tech platform. It also intends to expand its SmartBus fleet to 300 from the current 84 in the next few months and is on track for a managed fleet of 2000 by 2022.
“We could create India’s leading multi-modal inter-city mobility network due to our deep understanding of how Bharat travels, gained due to focused execution of last four years. We have been expanding exponentially and now positioned ourselves quite firmly in the inter-city mobility segment with our brand, IntrCity,” Manish Rathi, CEO and CO-founder, IntrCity by RailYatri said.
Kapil Raizada, Co-Founder, IntrCity by RailYatri claims that the startup has by over 500% in the last year with the entire growth costs being met from internal revenue generation. He says that they are projecting 300% growth over next three consecutive years.
“We have onboarded a number of top operators on our platform in the past 18 months across North, South and West India, which coupled with our natural capability to acquire intercity travelers, has helped fuel growth on a fundamentally strong economic model. We hope to solidify our leadership in the intercity mobility space and maintain the industry leading satisfaction ratings given to us by our customers,” he added.
Currently, the brand is running a fleet of 84 IntrCity SmartBus across 18 hubs, covering 65 destinations and serving nearly 400,000 travellers per month.
IntrCity SmartBuses offer a wide range of features that make travelling a comfortable experience for the travelers. All buses are equipped with on-board washrooms, full Wi-Fi connectivity, Automatic passenger information system and on-board infotainment. To ensure the safety of the passengers, each bus has CCTV cameras, GPS, a state-of-the-art AI enabled driver alert system and alcohol tests for the drivers. All the Buses are constantly monitored from a central command center, which tracks and monitors the buses.