1. IntrCity SmartBus, a tech-enabled intercity bus platform in India, has raised $30 million to expand its network across smaller cities and towns, valuing the startup at $140 million post-money.
2. The expansion is due to increased demand for intercity travel in India as more people move from rural areas to metropolitan cities. IntrCity aims to fill the gap in reliability and comfort provided by state-run services.
3. IntrCity operates on an asset-light model, partnering with local bus owners, and offers real-time tracking, digital ticket booking, route planning, and enhanced safety measures like trained personnel and cloud-connected vehicles. The startup plans to use the new funds for customer experience improvement, safety upgrades, and fleet management technology enhancement.