IntrCity, one of India’s leading inter-city mobility platform, offering both train and bus services has raised Rs 37 crore in Series C round led by Mirabilis Investment Trust, with participation from existing investors – Nandan Nilekani’s family trust (NRJN), Omidyar Network India and US-based Ujamaa Ventures.
The company claims that post turning EBITDA profitable, it will strategically utilise the recently acquired funds to enhance product offerings, foster accelerated user acquisition for growth, and go deeper on its hubs routes by providing more offerings to its growing traveller base.
Manish Rathi, CEO & Co-Founder, IntrCity said, “In FY2023, we experienced solid growth, with both our revenue and business turning profitable. As we step into FY2024, we aim to keep this momentum going, backed by the incredible support of our investors. We are now the top inter-city mobility brand in the country. Our full-stack technology platform monitors and ensures that we consistently deliver a high-quality travel experience. Our presence in both bus and train travel markets gives us the ability to directly reach every long-distance traveller in India. This fresh infusion of funds reaffirms our commitment to transforming the travel experience with a unique mix of technology and hospitality.”
Srinivas Seshadri, Head – Investments at Mirabilis Investment Trust said, “With the ongoing development of transportation infrastructure in the country acting as a key pillar for economic growth, we believe the travel industry is set on an upward trajectory. We have been impressed by the IntrCity team’s vision to provide a much-needed best-in-class experience in the inter-city bus segment. IntrCity’s data-driven, scalable and asset-light business model positions it very well for growth over the long term. We are delighted to come onboard as investors in IntrCity and participate in its growth journey.”
In 2024, IntrCity established partnership with more than 30 bus operators across India, enabling it to cover more than 650 Tier 2/Tier 3 routes from its 6 hubs spread across the country. Its technology and experience built to adapt Indian conditions (Cloud connected CCTVs, smart-pricing, in-bus washrooms, boarding lounges, bus captain, etc.) has propelled SmartBuses to the top bus brand across the country. Its RailYatri platform also serves more than 15 million users per month.
