Nexus Venture Partners led the Series A round of funding for Yolobus. They received funds worth $3.3 million. Yolobus is an intercity transportation startup based in Gurugram that was jointly founded by Danish Chopra, Shailsh Gupta, and Mukul Shah in 2019. The trio faced problems while traveling in intercity buses and were inspired to begin Yolobus.
There are more than 30 Yolobuses that run in 10-12 locations and were planning to add another 200 buses to their company by the end of this year. However, they said that the pandemic can harm this number.
The startup said that they will use the fresh funds to invest on technology, the reach of Yolobus, sanitization and crew, and customer safety.
The COO of Yolobus, Mukul Shah, said that the funds will help them improve their services in areas of hygiene and safety.
The company partners with existing bus operators and sets certain criteria for the fleet they have. Together they function on a revenue-sharing model. It is also looking forward to providing high-level services such as washrooms, high-speed WiFi, bus captain, device charging points, and food and beverages.
With added technology and safety system, Yolobus is setting high standards in terms of traveling comfort. These additional funds will help them grow and provide better traveling comforts to the bus travelers.