PE-VC Fund Investments
Bus network operator IntrCity SmartBus raises Rs.250-Cr led by A91 Partners
Noida-based bus network operator IntrCity SmartBus has raised INR 250 crore (about USD 28 million) in a Series D funding round led by A91 Partners, at an about INR 1,200 crore post-money valuation.The company plans to use the fresh funds to improve customer travel experience, upgrade the fleet management technology platform, and provide deeper and wider coverage to Tier II and Tier III cities.The firm claims to be on track to double its fleet and intends to run a network of 1,000 buses in the next few years. Currently, the firm runs roughly 550 to 600 buses. The company also claims to be profitable on the EBITDA (earnings before interest, taxes, depreciation, and amortisation) level.
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