Intercity mobility startup Zingbus has announced that it has raised Rs 44.6 crores ($6 million) as a pre-series A round led by Infoedge Ventures. The round also saw participation from Silicon Valley like Funders Club, Pioneer fund, Anim Fund (Founders Fund Scout), Locus Ventures, and Liquid 2 Ventures. Existing investors Advantedge Technology Fund, 9 Unicorns, and Venture Catalyst also participated. The company has also received backing from angels like NFL’s Joe Montana, Alan Rutledge, John Jersin, Ankur Nagpal, Vinod Gupta, Ben McCan, and Harry Robertson among others.
The freshly raised funds will be utilized to develop technology for the next leap of improvement in traveler experience and expand the service to new geographies. Zingbus is also hiring across engineering, product, business, and operations profiles. Zingbus restarted its operations after the second wave subsided and aims to run 250 buses by the end of this year.
The company aims to make safe and reliable travel accessible for everyone. It aggregates fleets of buses to deliver an end-to-end standardized intercity travel experience to its customers. Even amidst the ongoing pandemic, it has connected more than 100 cities and towns across the country, reported ET.
In a statement, Prashant Kumar said, “We see the pandemic as a black swan event for the entire intercity bus industry. It has upended this unorganized, highly fragmented, and mainly unbranded market. The current industry dynamics are such that we find ourselves in a position to build something quickly. This pandemic has led to higher expectations of hygiene and safety from customers. Contactless, hassle-free boarding process, amongst other technology tools, has helped us fulfill this post-Covid need. By building tools for audits, boarding, and demand management, we have been able to help to struggle traditional fleet owners in coping with the operational challenges with minimum manpower investment from their side in a post lockdown world.”
“We are committed to build technology promoting safety and affordability of services and create sustainable mobility infrastructure. We are running projects which would make bus travel much more attractive for customers like door-to-door connections, value-added services, and much more,” he added in the statement.
Also, Read This: Delhi-based Youth Hostel Startup goSTOPS Has Raised USD 1 million