IntrCity RailYatri announced its intent to dominate the inter-city mobility space with their latest funding round, led by Nandan Nilekani and Samsung Venture Investment coming onboard as a strategic investor.
This round also saw participation from other existing investors, Omidyar Network and Blume Ventures. The Intercity mobility startup has so far raised a total of $30 Million. This round comes at the right time with the IntrCity SmartBus fleet achieving PAN India scale, driven by growing demand for standardized high service quality buses, backed by the multi-modal RailYatri.in platform which contributes bulk of the bookings.
Mr. Nandan Nilekani, one of the early backers of this venture stated, “We are impressed by the rapid momentum of IntrCity RailYatri and it is on a successful path to create the scale which a leader in inter-city mobility deserves. This initiative will be of great benefit and convenience to millions of domestic intercity travellers.”
Commenting on the development, Manish Rathi, CEO and CO-founder, IntrCity by RailYatri said, “We could create India’s leading multi-modal inter-city mobility network due to our deep understanding of how Bharat travels, gained due to focused execution of last four years. We have been expanding exponentially and now positioned ourselves quite firmly in the inter-city mobility segment with our brand, IntrCity. The latest investments will help us further expand our IntrCity SmartBus network and enhance our tech platform. We intend to expand our SmartBus fleet to 300 from the current 84 in the next few months and are on track for a managed fleet of 2000 by 2022.”
In addition, Kapil Raizada, Co-Founder, IntrCity by RailYatri said, “We have grown 500+% in the last year with the entire growth costs being met from our internal revenue generation, and we are projecting 300% growth over next three consecutive years. We have onboarded a number of top operators on our platform in the past 18 months across North, South and West India, which coupled with our natural capability to acquire intercity travelers, has helped fuel growth on a fundamentally strong economic model. We hope to solidify our leadership in the intercity mobility space and maintain the industry leading satisfaction ratings given to us by our customers.”
IntrCity by RailYatri is a leader in the multi modal intercity mobility segment and has revolutionized intercity bus travel through IntrCity SmartBus branded fleet of buses. The unique full stack marketplace model provides a complete traveler experience with several bus operators as its marketplace partners. Currently, the brand is running a fleet of 84 IntrCity SmartBus across 18 hubs, covering 65 destinations and serving nearly 400,000 travelers per month. IntrCity SmartBuses offer a wide range of features that make travelling a comfortable experience for the travelers. All buses are equipped with on-board washrooms, full Wi-Fi connectivity, Automatic passenger information system and on-board infotainment. To ensure the safety of the passengers, each bus has CCTV cameras, GPS, a state of the art AI enabled driver alert system and alcohol tests for the drivers. All the Buses are constantly monitored from a central command center, which tracks and monitors the buses.
About IntrCity by RailYatri-
Parent company of IntrCity by RailYatri is a multi-modal intercity mobility network, based in Delhi NCR, India. The company started with the concept of simplifying rail travel and emerged as India’s top online destination for inter-city travelers. It subsequently extended its offering to surface transport and operates a popular, asset-less bus brand “IntrCity SmartBus”. With the aim of providing a standardized-yet-affordable bus service, connecting major routes across India.