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Home » IANS » IntrCity raises over Rs 100 cr in Nilekani-led funding

IntrCity raises over Rs 100 cr in Nilekani-led funding

By IANS
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New Delhi, Feb 24 (IANS) RailYatri’s mobility startup IntrCity on Monday said that it has raised over Rs 100 crore in its latest funding round led by Nandan Nilekani.

In a statement, IntrCity said that Samsung Venture Investment came onboard as a strategic investor and the other existing investors Omidyar Network and Blume Ventures also took part in the funding round.

The intercity mobility startup has so far raised a total of $30 million, it said.

Commenting on the development, Manish Rathi, CEO and co-founder, RailYatri said: “The latest investments will help us further expand our IntrCity SmartBus network and enhance our tech platform. We intend to expand our ‘SmartBus’ fleet to 300 from the current 84 in the next few months and are on track for a managed fleet of 2,000 by 2022.”

RailYatri, the parent company of IntrCity is a multi-modal intercity mobility network, based in Delhi-NCR. The company started with the concept of simplifying rail travel and emerged as India’s top online destination for inter-city travellers. It subsequently extended its offering to surface transport and operates the bus brand “IntrCity SmartBus”.

Speaking about the startup, Nandan Nilekani, one of the early backers of this venture stated: “This initiative will be of great benefit and convenience to millions of domestic intercity travellers.”

–IANS

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(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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