IntrCity, a dynamic player in the mobility sector, has successfully raised INR 37 Cr (approximately $4.4 Mn) in its recent Series C funding round, marking a pivotal moment in its journey. Mirabilis Investment Trust led the funding round, with participation from existing investors, including Nandan Nilekani’s family trust (NRJN), Omidyar Network India, and US-based Ujamaa Ventures.
Kapil Raizada, Co-founder of IntrCity, revealed to Inc42 that the startup, already operating profitably, plans to strategically utilize the funds as needed by its parent entity, Stelling Technologies. The focus will be on enhancing product offerings, fostering accelerated user acquisition for sustained growth, and expanding services on key routes to cater to the ever-growing traveler base.
IntrCity, launched in 2014 by Raizada and Manish Rathi, is a part of the Stelling Technologies umbrella, which also houses RailYatri, a brand offering train booking and related railway information services.
Raizada expressed confidence in the startup’s performance, stating, “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 startup boasts a significant presence in both train and bus services, uniquely positioning itself to directly target long-distance travelers across India. Claiming partnerships with over 30 bus operators and coverage of more than 650 Tier II and III routes through its six hubs nationwide, IntrCity caters to the diverse travel needs of its expanding customer base.
RailYatri, another brand under the Stelling Technologies umbrella, serves over 15 million passengers monthly, according to the startup’s claims.
IntrCity’s journey in funding has been marked by substantial support, with Samsung Venture Investment Corporation injecting INR 14.03 Cr in 2020 as part of a Series B funding round. Since its inception, the startup has successfully raised a total of close to $35 Mn (approximately INR 290 Cr), garnering support from backers like Entrust Family Office, Omidyar Network, and Blume Ventures Services.
