Zingbus raises Rs 44.6 crore from Infoedge Ventures, others

NEW DELHI: 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

‘s Joe Montana, Alan Rutledge, John Jersin, Ankur Nagpal, Vinod Gupta, Ben McCan, and Harry Robertson among others. Founded in 2019 by Prashant Kumar, Mratunjay and Ravi Kumar Verma, Zingbus has been part of the YCombinator 2021 winter batch.

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. 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.

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 struggling traditional fleet owners in coping with the operational challenges with minimum manpower investment from their side in a post lockdown world.”

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“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..

Zingbus restarted its operations after the second wave subsided and aims to run 250 buses by the end of this year.

“The team has a combination of tech and logistics expertise with capital efficiency. Very few travel and mobility companies have seen strong growth with robust unit economics despite Covid disruptions, so we have immense confidence in the execution,” said Kitty Agarwal, Partner, Infoedge ventures, in a statement.

Another investor in Zingbus, Alex Mittal, CEO, FundersClub, in a statement, said, “Commuters want their journeys to be clean and safe, affordable, and reliable now more than ever. They also want the freedom to expand the cities in which they work, study, and socialize. Zingbus is leveraging technology to give consumers the modern bus ride experiences they’re demanding, and to give bus fleet partners the ability to optimize earnings via software and data.”

“We were taken by Zingbus’ accessible and sustainable vision of making bus travel comfortable for everyone. We are very excited to be a part of Zingbus’ journey to transform bus journeys,” said Rajiv Bhat, Senior Venture Partner, Pioneer Fund, in a statement.

In a statement, Kunal Khattar, Managing partner Advantedge Founders Fund,said, “The team’sinsights into the intercity mobility space are impeccable, and their vision for the future of shared mobility is inspiring.”

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Flixbus, which zingbus lists as its global counterpart, has recently raised $650 million from General Atlantic, Blackrock, Silverlake, and Canyon partners, one of the largest intercity mobility operators worldwide.



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