Funding alert: Zingbus raises Rs 44.6 Cr led by Infoedge ventures

Funders Club, Pioneer Fund, Anim Fund (Founders Fund Scout), Locus Ventures, and Liquid 2 Ventures were among the other Silicon Valley investors who participated in the pre-series A round.


The newly raised funds will be used to create technologies for the next leap in traveler experience improvement and to expand the service to new areas. The startup is also seeking engineers, product managers, business analysts, and operations managers .In a statement, the company said.

This round of funding was also supported by existing investors AdvantEdge technology fund, 9 Unicorns, and Venture Catalyst.


According to the statement, the company has also garnered support from a slew of value-adding angels, including NFL legend Joe Montana, Alan Rutledge, John Jersin, Ankur Nagpal, Vinod Gupta, Ben McCan, and Harry Robertson, among others.


The firm, which was founded in 2019, intends to make safe and reliable travel available to everyone. It combines bus fleets to provide clients with a standardized end-to-end intercity travel experience.

"For the entire intercity bus industry, we see the pandemic as a black swan event." This unorganized, highly fragmented, and largely unbranded market has been turned upside down.

 

"Given the current state of the industry, we're in a rare position to create something valuable soon." Customers' expectations of hygiene and safety have risen as a result of the pandemic, according to Zingbus CEO Prashant Kumar.


After the second wave passed, Zingbus resumed operations and plans to run over 250 buses by the end of the year.The company claims to connect over 100 cities and towns across the United States.

Kitty Agarwal, Partner, Infoedge Ventures, remarked of their funding,


"We are very excited to join the Zingbus team in their endeavor to establish a sustainable, shared mobility firm that provides a consistent, high-quality experience to bus passengers in India using technology. The team possesses a one-of-a-kind blend of technology and logistical knowledge, as well as best-in-class capital efficiency. We have a lot of faith in the execution because few few travel and mobility companies have generated significant growth with strong unit economics notwithstanding Covid interruptions."