top of page

IntrCity Secures Additional Funding to Expand its Mobility Services

IntrCity, a leading mobility platform offering both bus and train services to budget travelers, has successfully raised Rs 37 crore (approximately $4.5 million) in its recent Series C funding round. Spearheaded by Mirabilis Investment Trust, with contributions from existing investors including Nandan Nilekani’s family trust, Omidyar Network India, and Ujamaa Ventures, this investment underscores the confidence in IntrCity’s potential for growth.

The influx of capital will fuel IntrCity's expansion efforts, focusing on enhancing product offerings, bolstering user acquisition initiatives, and further developing its hub routes to cater to the evolving needs of its expanding customer base.

The latest investment places IntrCity's valuation at approximately Rs 912 crore or $110 million. This milestone marks a significant achievement for the company, which has garnered over $50 million in funding since its inception.

IntrCity's flagship service, IntrCity SmartBus, operates on more than 630 routes spanning 16 states, catering to travelers across India's long-distance corridors. Complementing this, RailYatri, the company's companion brand, offers comprehensive train travel information, serving a user base of over 15 million individuals monthly.

Innovating to meet customer demands, RailYatri recently introduced a 'flexi-ticket' feature, enabling users to make last-minute adjustments to their travel plans when facing reservation constraints on trains.

Co-founded by Kapil Raizada, Manish Rathi, and Sachin Saxena, IntrCity derives over 90% of its revenue from roadway operations, supplemented by earnings from commissioning and advertising. Raizada highlighted that a significant portion of IntrCity's transactions originate from its website and application, with the remainder sourced from aggregators and offline channels.

Financially, RailYatri has demonstrated impressive growth, with revenue from operations surging by 2.3 times to Rs 273.7 crore during FY23, compared to Rs 117.2 crore in FY22. Additionally, the company has effectively managed its losses, witnessing a 58.6% reduction to Rs 18.18 crore in FY23 from Rs 43.87 crore in FY22. IntrCity aims to achieve EBITDA profitability in the ongoing fiscal year, signaling a promising trajectory for sustainable growth and profitability.

IntrCity's continued expansion and innovative offerings reaffirm its position as a frontrunner in India's rapidly evolving mobility sector. With strategic investments and a commitment to enhancing user experience, the company is poised to redefine travel for budget-conscious individuals across the country.


bottom of page