IntrCity SmartBus raises Rs 250 crore in Series D round led by A91 Partners

L - Kapil Raizada, Co-founder & President R - Manish Rathi, Co-founder & CEO, IntrCity SmartBus

Travel startup IntrCity SmartBus has raised Rs 250 crore in a Series D funding round led by A91 Partners.

The company said in a statement on October 30 that the funds will be used to enhance customer experience and safety, upgrade its fleet management technology platform, and expand operations in Tier-2 and Tier-3 cities. IntrCity plans 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% y-o-y growth this year. We are excited to onboard A91 Partners in the next phase of our journey,” said Kapil Raizada, Co-founder and President, IntrCity SmartBus.

Gautam Mago, General Partner at A91 Partners, said, “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.”

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. 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.