Mobility platform IntrCity, which owns SmartBus and RailYatri, has secured an additional ₹37 crore (approximately $4.5 million) in its Series C funding round. This latest investment was led by Mirabilis Investment Trust, with participation from existing investors including Nandan Nilekani’s family trust, Omidyar Network India, and U.S.-based Ujamaa Ventures.
About
IntrCity offers both train and bus services to budget-conscious travelers. Its flagship brand, IntrCity SmartBus, provides travel options across India’s long-distance routes. Additionally, its companion brand, RailYatri, serves as a comprehensive platform for train travel information, catering to over 15 million users per month.
Funding and Valuation
The company’s valuation stands at approximately ₹912 crore or $110 million after receiving the first tranche of this Series C funding. IntrCity has raised over $50 million to date.
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Routes and Offerings
IntrCity SmartBus operates across more than 630 routes in 16 states, connecting cities such as Delhi–Lucknow, Delhi–Kanpur, Mumbai–Pune, Bengaluru–Hyderabad, and Chennai–Coimbatore. The platform has also introduced a ‘flexi-ticket’ feature, allowing users to make last-minute changes to their travel plans when train reservations are unavailable.
Revenue and Profitability
Co-founded by Kapil Raizada, Manish Rathi, and Sachin Saxena, IntrCity generates over 90% of its revenue from roadway operations, with the remaining portion coming from commissioning and advertising publicity. The company’s revenue from operations surged 2.3 times to ₹273.7 crore during FY23, while losses decreased by 58.6% to ₹18.18 crore. IntrCity claims to have achieved EBITDA profitability in the ongoing fiscal year.