ⓘ Featured image: Yolobus co-founder: From left: Mukul Shah, Shailesh Gupta, and Danish Chopra
India’s Yolo Bus, a mobility startup that standardises inter-city bus travel, yesterday announced that the company has raised $3.3 million in a Series-A round led by Nexus Venture Partners with participation from India Quotient. The company in a statement revealed that the funds will be deployed towards expanding service across the country and invest in safety features.
As a part of the funding round, Nexus’ managing director Suvir Sujan and India Quotient’s general partner Anand Lunia will join the board of Yolo Bus.
Commenting on the investment round, Shailesh Gupta, CEO & co-founder of Yolo Bus said,
“We should recover demand in the next two to three months. Even now, there is pent-up demand, but every alternate seat on the bus is blocked to maintain social distancing,”
The company also added that it is aiming to introduce safety measures for bus travellers similar to that of airlines amid the COVID-19 situation. The company has also introduced disinfectant tunnels, has built a feature to screen travellers for temperature and other COVID-19 symptoms before they board a bus, and is also offering PPE kits to travellers to suppress the risk.
Sharing his view, Suvir Sujan said,
“Intercity ground mobility in India hasn’t kept up with the needs of the discerning urban traveller and is ripe for disruption,”