Hyderabad: Intercity mobility brand, IntrCity by RailYatri is planning to expand its fleet offering from 100 buses to 300 buses in the next 12 months and is also planning to take the number to 2,000 buses in the next three years. The company works with partners to provide them with buses and then transforms them according to their standards. Its buses are equipped with tracking mechanism through GPS, CCTV along with washroom and bus captains.
The Nandan Nilekani backed startup has launched two lounges in Hyderabad in Moosapet and Gachibowli wherein the travelers can board the bus and it will have facilities like recliners, seating space, toilets, clean drinking water and coffee. It also features workstations and have attendants to help passengers board their buses.
Currently, the IntrCity brand covers 20 cities with its 100 buses fleet and with the expansion plan, it is looking to cover over 30 cities in the next one years. In terms of lounge expansion, the company is planning to have 12 lounges in major metro cities by end of 2020. It already has such lounges active in Bengaluru, Ahmedabad and Lucknow and Hyderabad is the fourth city to have the lounge facility.
IntrCity by RailYatri CEO Manish Rathi said, “We recently raised Rs 100 crore from Nandan Nilekani along with strategic investment by Samsung Venture Investment and saw participation from existing investors like Omdiyar Network and Blume Ventures. We are planning to use the funds to fuel our expansion of launching new lounges and increasing our fleet size.”
In terms of revenue, RailYatri clocked in Rs 70 crore last year and hopes to achieve 3-4 times growth by the next financial year. These revenues are from both its IntrCity and RailYatri business – which is a rail ticket booking platform.