Team StartupCity

• Raises Rs 250 crore in Series D round led by A91 Partners
• Plans to expand services across tier-II and tier-III cities
• Aims to double fleet and reach Rs 1,000 crore revenue next year

IntrCity SmartBus, the Noida-based intercity bus startup, has raised Rs 250 crore ($28 million) in a Series D funding round led by A91 Partners. The fresh infusion will help the company upgrade its technology, improve passenger experience, and widen its reach across smaller Indian cities.

Founded in 2019 by Kapil Raizada and Manish Rathi, IntrCity operates as the bus division of RailYatri, using an asset-light model to offer comfortable and tech-enabled travel. Its 'SmartBuses' come equipped with IoT devices for real-time tracking and monitoring.

With this round, IntrCity’s total funding has crossed $80 million. The company was last valued at around $110 million in its previous funding. Earlier, it secured $4.5 million from Samsung Venture Investment and others in February last year.

Kapil Raizada, Co-Founder of IntrCity SmartBus, said, the company continues to grow 'organically and profitably', expecting to maintain 50% year-on-year growth. “We’re thrilled to welcome A91 Partners as we work to redefine intercity bus travel in India”, he added.

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Currently, IntrCity operates on over 630 routes across 15 states and plans to double its fleet to hit Rs 1,000 crore in turnover by next year. Its sister platform RailYatri serves more than 12 million monthly users with train bookings and travel insights.

IntrCity reported a 15.9% rise in operating revenue to Rs 317.34 crore in FY24, up from Rs 273.9 crore in FY23. The company competes with Abhibus, Zingbus, Leafybus, and ixigo’s Freshbus.