Get All Access for $5/mo

Mobility Startup IntrCity Raises INR 37 Cr in Series C Led by Mirabilis Investment Trust The Noida-based startup will 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.

By Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Freepik

IntrCity, an inter-city mobility platform, offering both train and bus services, has raised INR 37 crore in Series C funding led by Mirabilis Investment Trust.

Existing investors Nandan Nilekani's family trust (NRJN), Omidyar Network India and US based Ujamaa Ventures also participated in the round.

The startup raised INR 100 crore in February 2020.

Post turning EBITDA profitable, IntrCity plans to 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, Co-founder and CEO, IntrCity, said, "In FY23, we experienced solid growth, with both our revenue and business turning profitable. As we step into FY24, we aim to keep this momentum going, backed by the incredible support of our investors. Our full-stack technology platform monitors and ensures that we consistently deliver a high quality travel experience. Our presence in both the bus and train travel market 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."

Founded in 2002, IntrCity is a low-cost intercity mobility platform that provides bus and train services. Its flagship brand IntrCity SmartBus claims to provide safe, trusted and standardised travel options around India's long-distance routes, operating across over 630 routes in 16 states. Every month more than 15 million people use its companion brand, RailYatri, which offers information about train travel.

Through its six hubs located around the nation, IntrCity SmartBus, in collaboration with approximately 30 bus operators nationwide, now offers service to over 650 tier 2/tier 3 routes.

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. IntrCity's data driven, scalable and asset light business model positions it very well for growth over the long term."

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Leadership

Should I Stay or Should I Go? 8 Key Points to Navigate the Founder's Dilemma

Here are eight key signs that help founders determine whether to persevere or let go.

Marketing

5 Critical Mistakes to Avoid When Giving a Presentation

Are you tired of enduring dull presentations? Over the years, I have compiled a list of common presentation mistakes and how to avoid them. Here are my top five tips.

Business News

Former Steve Jobs Intern Says This Is How He Would Have Approached AI

The former intern is now the CEO of AI and data company DataStax.

Leadership

Visionaries or Vague Promises? Why Companies Fail Without Leaders Who See Beyond the Bottom Line

Visionary leaders turn bold ideas into lasting impact by building resilience, clarity and future-ready teams.