India: Yolobus raises $3.3m led by Nexus Venture Partners, India Quotient

Photo: Unsplash

Gurgaon-based start-up Yolobus on Monday said it has raised a $3.3 million Series A round of financing. The round was led by Nexus Venture Partners and India Quotient.

Suvir Sujan, managing director of Nexus Venture Partners and Anand Lunia, general partner, India Quotient will join the board of Yolobus.

The funds raised will be used to expand its services in the country and build across technology, customer and crew safety and sanitisation.

The intercity full-stack bus service was founded by Shailesh Gupta and Mukul Shah in August 2019 and since then has covered more than 15 lakh kms and has 100,000+ customers. The Series A financing builds on a good first year for Yolobus which saw a rapidly growing market momentum in the first six months, the company said in a statement. This was further accelerated by a recent expansion of its full-stack bus services in the North-eastern region in May 2020.

“As an industry we’re just scratching the surface of how India’s bus services can be when married to our uber offerings of safety, sanitisation and comfort,” said Yolobus Founder & CEO, Shailesh Gupta.

Yolobus aims to make bus travelling experience safe for customers once it resumes full operations post the lockdown. Every passenger will be checked with infra-red temperature measuring guns before on boarding. Customers will be able to pre-order essential PPE kits and know the temperature of the bus crew members before boarding the bus, added Gupta.

The company will also introduce a sanitization tunnel for each passenger before onboarding to contain the spread of the covid-19 pandemic. The captain, along with the bus driver and staff will wear PPE kits to do away with the risk of contamination, ensuring a safe journey for the passengers. The company aims to provide airline-level services such as bus captains, high-speed Wi-Fi, washrooms, food and beverages, device charging points, etc.

“Intercity ground mobility in India hasn’t kept up with the needs of the discerning urban traveller and is ripe for disruption. Built on the pillars of Safety, Comfort and Convenience, the Yolobus team is using technology and data science to redefine intercity bus travel experience. I am excited to partner with them in their journey,” said Sujan.

This article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.