IntrCity SmartBus Secures ₹250 Crore Series D Funding, Aims to Double Fleet

Travel startup IntrCity SmartBus has secured Rs 250 crore in a Series D funding round led by A91 Partners, the company announced on Thursday. It said that the capital will be deployed to enhance customer experience and safety, upgrade its fleet management technology platform and expand operations in Tier-2 and Tier-3 cities. IntrCity also aims to double its fleet and is targeting Rs 1,000 crore in turnover by next year.

"IntrCity SmartBus has emerged as nationally the top ranked brand amongst bus travelers, known for its professionalism, punctuality, comfort and reliability of operations. The brand continues to scale-up organically & profitably and is projected to maintain its 50 per cent y-o-y growth this year. We are excited to onboard A91 Partners in the next phase of our journey," Kapil Raizada, Co-founder and President, IntrCity SmartBus, said in a statement.

"We are delighted to partner with Kapil, Manish and the IntrCity SmartBus team. They have built a trusted, pan-India brand through exceptional quality, consistency and customer service," said Gautam Mago, General Partner at A91 Partners.

Extensive Network

IntrCity SmartBus operates across over 630 routes in 15 states. Its companion brand, RailYatri, serves more than 12 million users monthly through its digital train travel platform.

IntrCity has previously raised multiple rounds of funding from a mix of institutional and strategic investors.

In February 2024, it secured Rs 37 crore as part of its Series C round, led by Mirabilis Investment Trust, with participation from NRJN Family Trust (backed by Nandan Nilekani), Omidyar Network India, and Ujamaa Ventures.

Before that, in 2020, the company raised over Rs 100 crore from the NRJN Family Trust and Samsung Venture Investment, along with existing backers Omidyar Network India and Blume Ventures.

Total Funding

With the latest Rs 250 crore Series D infusion led by A91 Partners, IntrCity has now raised more than Rs 400 crore in total funding to date.

The funding round positions IntrCity SmartBus to capitalise on growing demand for organised intercity bus travel in India's smaller cities. The company's emphasis on technology-driven fleet management and customer safety aligns with evolving consumer expectations in the transportation sector.

The planned fleet expansion and aggressive revenue target of ₹1,000 crore demonstrate management's confidence in continued market penetration and operational efficiency. With 50 per cent year-on-year growth projected, IntrCity appears well-positioned to consolidate its leadership in India's organised bus travel segment whilst maintaining profitability.