With the help of current investors Nandan Nilekani’s family trust (NRJN), Omidyar Network India, and US-based Ujamaa Ventures, IntrCity secured INR 37 Cr (about $4.4 Mn) in its Series C fundraising round led by Mirabilis Investment Trust.
Being profitable, IntrCity’s cofounder Kapil Raizada stated that the company plans to use the money when needed by its parent firm Stelling Technologies for its product lines, encourage accelerated adoption for growth, and expand on its hub connections, as reported by Inc42.
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Manish Rathi, co-founder of IntrCity said, “In FY23, we experienced solid growth, with both our revenue and business turning profitable. As we step into FY24, we aim to keep this momentum going, backed by the incredible support of our investors.”
The parent company also owns RailYatri, a brand that provides train reservations along with additional information services on railroads.
The company equips its vehicles with tech features including monitoring hardware and software and operates a booking website.
About IntrCity
Manish Rathi and Kapil Raizada founded the company in 2014. IntrCity SmartBus debuted in early 2019 while IntrCity RailYatri began operations in 2011.
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IntrCity SmartBus is a fleet of branded buses to give a standardized, safe, secure & comfortable bus travel experience. IntrCity SmartBus started operations in 2 cities in early 2019, and as of today connects over 100 cities PAN India.
