Intercity mobility startup Zingbus has made headlines with its latest fundraising efforts. The company is set to raise ₹59.04 crore through a preferential issue of equity shares, backed by BP Technology Ventures, IE Ventures, and other investors. This strategic move highlights Zingbus's commitment to expanding its operations and strengthening its market presence in the growing intercity travel segment.

Ministry Of Corporate Affairs

In a recent disclosure shared with the Ministry of Corporate Affairs, Zingbus revealed a significant update regarding this funding round. The company’s board has approved the issuance of Series A3 Compulsorily Convertible Preference Shares (CCPS). These shares are valued at ₹15,354 per share, including a premium of ₹15,353 and a nominal face value of ₹1. A total of 38,455 such shares will be issued to facilitate the ₹59.04 crore funding.

This development reflects the confidence of investors in Zingbus’s growth trajectory and its potential to disrupt intercity mobility. With these funds, the startup plans to enhance its services, expand routes, and invest in technology to improve the overall travel experience for customers.

Zingbus No.1 Player 

Zingbus has been a prominent player in the intercity bus segment, offering affordable, comfortable, and reliable travel solutions. This funding round is expected to position the company to compete more effectively in the market and meet the increasing demand for convenient intercity travel options.

The approval marks a significant milestone for Zingbus as it continues to focus on providing innovative mobility solutions and scaling its operations across the country. This latest investment reinforces the company's vision of redefining long-distance travel in India.

Author Opinion 

Zingbus company which has been providing intercity travel service for a long time. Recently, big news related to the company is being seen. The company has tried hard to raise funds. The company has achieved great success in this fund market strategy and for a startup company this is a big achievement.