bp Ventures Backs Intercity Bus Platform Zingbus with $9 Mn Funding

-The startup’s tech stack aims to provide an ecosystem that empowers traditional bus operators in India to transition from ICE powered buses to EVs.

-With this latest funding, Zingbus will likely focus on scaling operations, adding more routes, upgrading its digital platform, and increasing its market presence. 

-Zingbus has partnered with Jio-bp Pulse, the electric mobility joint venture between Reliance and bp, through a commercial agreement.

Zingbus, the intercity bus platform known for streamlining bus travel with technology-driven solutions, has raised $9 million in its latest Series-A funding round from bp Ventures. 

This investment will support Zingbus’s mission to expand its network, improve its technology offerings, and strengthen its logistics infrastructure across key routes in India and other target markets.

Founded by Prashant Kumar, Mratunjay Beniwal and Ravi Verma in 2019, Zingbus uses tech platforms to standardize the fragmented space of India's intercity bus travel.

It offers users intercity bus booking experience through its app and platform, focusing on reliability, convenience, and affordability. The startup aims to enhance commuter options by connecting major cities through an efficient bus network.

With this latest funding, Zingbus will likely focus on scaling operations, adding more routes, upgrading its digital platform, and increasing its market presence. 

Since its inception, Zingbus has been working with small and medium sized bus operators to serve more than two million users across 300 Indian cities, per a press statement by bp Ventures. 

The startup’s tech stack aims to provide an ecosystem that empowers traditional bus operators in India to transition from ICE (internal combustion engine) powered buses to electric vehicles (EVs).

“Electric buses in India are cheaper to run than diesel ones, and with the Indian Government targeting a 100% electric bus fleet by 2030, we saw an opportunity to not only make the transition from ICE to electric more streamlined and cost efficient, but to also make life easier and safer for people travelling between cities,” said, Zingbus CEO and cofounder, Prashant Kumar.

He further added that, Zingbus has developed an advanced technology platform designed to tackle key challenges in operating electric buses, providing bus operators with the necessary tools for a smooth transition. This scalable model aims to support over 3,000 electric buses on Indian highways within the next 5-6 years, which the startup considers its key competitive advantage.

Further, Zingbus has partnered with Jio-bp Pulse, the electric mobility joint venture between Reliance and bp, through a commercial agreement to access its extensive EV charging network and convenience sites across India. Jio-bp Pulse operates the country’s largest EV fleet charging hubs and public fast-charging stations, with its 5,000th charging point recently installed. This collaboration will support Zingbus’s electric bus operators by providing essential charging infrastructure nationwide.

It is to be noted that, Reliance BP Mobility Limited (RBML) is an Indian fuels and mobility joint venture between Reliance Industries Limited (RIL) and bp, operating under the brand ‘Jio-bp’.