IntrCity, the bus-focused spinoff of India-based train ticketing service RailYatri, has secured Rs1bn ($13.5m) in funding from investors including Samsung Venture Investment, a subsidiary of electronics manufacturer Samsung, Hindu BusinessLine has reported.
The round was led by entrepreneur Nandan Nilekani with the backing of impact investment group Omidyar Network and venture capital fund Blume Ventures.
RailYatri runs an online aggregator for rail tickets, and IntrCity offers a service where consumers can check connections and make reservations for inter-city bus journeys.
Proceeds from the round will support the expansion of IntrCity’s bus fleet to 300 vehicles over the coming months as it looks to reach 2,000 by 2022. RailYatri has now raised $30m altogether, according to a press release cited by BusinessLine.
Omidyar Network led a series B round of undisclosed size for RailYatri in April 2018 that included Nandan Nilekani, Blume Ventures and Helion Venture Partners. All four were existing investors.
Photo courtesy of RailYatri.in.