Intercity mobility company ZingBus is in late-stage talks to raise $12 to $15 million in a fresh round. After a hiatus of more than 20 months, the Gurugram-based startup is raising money. One of the individuals who asked to remain anonymous, "InfoEdge will lead this round as ZingBus is planning to expand into newer cities and ramp up its fleets." Other current and new investors will take part in the round as well.

In its pre-Series A round in July 2021, ZingBus raised close to $6 million from Infoedge Ventures, Founders Club, Pioneer Fund, Anim Fund, Locus Ventures, Liquid 2 Ventures, and a number of illustrious angel investors. If the latest round is successful, ZinBus would have received close to $20 million in funding overall, which also includes an undisclosed sum from the winter 2021 batch of Y Combinator.

Zingbus, a four-year-old company, combines bus fleets to offer its customers a complete intercity travel service. The business, which was founded by Mratunjay Beniwal, Ravi Kumar Verma, and Prashant Kumar, states that it has built a network of more than 350 buses serving more than 500 cities. The company recently reported serving more than 3 million clients in 18 states throughout Northern, Western, and Southern India.

The company will have a post-money value of around $70 million. Sending inquiries to ZingBus and Info Edge did not immediately result in a response. If they do, we'll update the post. A cooperative e-mobility project between the firm and the National Highways for Electric Vehicles (NHEV) was announced last month.

Since it anticipates that electric vehicles will be more viable due to a 15%–20% reduction in operating costs, the project seeks to assist private diesel bus operators in embracing and using them. ZingBus competes in the intercity bus aggregation market with companies like Yolobus, RailYatri's IntrCity and redBus' IntrCity SmartBus, as well as FreshBus.