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
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.
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.