India caters to more than 50 million intercity travellers on a daily basis, an Omidyar Network report shows.

Despite a bumpy ride during the COVID-19 pandemic, the bus service segment in India has grown consistently. In 2020, more than 95.5 million people travelled by bus, and this number is estimated to reach 120 million by 2026, a Statista report said.

Keen on making bus travel a lucrative option is mobility startup IntrCity Smartbus, which claims to have achieved profitability, is aiming to achieve $100 million in the next 12 months. Backed by the likes of Nandan Nikelani and Samsung Venture Investment, the startup recorded over two lakh monthly seat capacity and an 80 percent increase in revenue.

Kapil Raizada, Co-Founder of IntrCity Smartbus, in an interview with CNBC-TV18 said they expect to grow by 50 percent in the second half of the year.

“Our first goal this year was to hit business breakeven and we achieved that in the last quarter. This year we expect to grow fairly strongly. In the remaining half of this year we are planning for another 50 percent growth. In the next 12 months our target is $100 million with breakeven business, breakeven profitability”, Raizada said.

Also watch Niraj Rajmohan, Co-Founder & CTO of Ultraviolette discuss how they plan to utilise their recent fundraise of $10 million.

Moreover, CNBC-TV18 takes a look at the success story of Biryani by Kilo.

Watch video for more