IntrCity SmartBus raises Rs 250 Cr in Series D led by A91 Partners

Intercity bus network IntrCity SmartBus has raised Rs 250 crore ($28 million) in a Series D funding round led by A91 Partners.

IntrCity had earlier raised $4.5 million from Samsung Venture Investment and other investors in February last year. As per the startup data intelligent platform TheKredible, IntrCity has raised nearly $80 million to date and was valued at around $110 million in the last funding round.

The Noida-based company will use the funds to enhance customer travel experience, upgrade its fleet management technology platform, and expand coverage across tier-II and tier-III cities.

Co-founded in 2019 by Kapil Raizada and Manish Rathi, IntrCity SmartBus operates as the bus arm of RailYatri, offering standardized intercity bus travel through an asset-light model. Its “SmartBuses” are equipped with IoT devices for real-time tracking and data monitoring.

“The brand continues to scale up organically and profitably and is projected to maintain its 50% year-on-year growth this year. We are excited to onboard A91 Partners in the next phase of our journey,” said Raizada. “This new capital enables us to further double down on our vision to transform the bus-travel landscape in India.”

IntrCity SmartBus claims to operate on more than 630 routes across 15 states. Its sister platform, RailYatri, serves over 12 million monthly users offering train ticket booking and travel insights.

The company aims to double its fleet and touch Rs 1,000 crore in turnover by next year. While the company has yet to file its annual financial statements for FY25, it reported a 15.9% jump in its revenue from operations to Rs 317.34 crore during FY24 as compared to Rs 273.9 crore in FY23.

It competes with Abhubus, Zingbus, Leafybus and ixigo’s Freshbus.