bp Ventures invests $9 million into Zingbus in Series A funding • EVreporter

bp Ventures has invested $9 million in Zingbus, an intercity bus platform in India, as part of its Series A funding round. The investment will support Zingbus in scaling its operations and expanding its team. Zingbus has also entered into a commercial agreement with Jio-bp pulse to collaborate on electrifying intercity bus routes across India.

Zingbus, headquartered in Delhi, has developed a technology-driven platform that provides digital infrastructure for bus operators, including pricing, fleet management, route optimization, and a ticketing marketplace. The company aims to assist small and medium-sized bus operators in transitioning from internal combustion engine (ICE) buses to electric vehicles (EVs). Since its launch in 2019, Zingbus has served over two million users across 300 cities in India.

India’s road network spans approximately 6.4 million kilometers, with around 50 million people traveling between cities daily. Zingbus addresses challenges in intercity mobility, including unreliable services and unsafe boarding points, by offering solutions to make transport more efficient and accessible.

Zingbus CEO and co-founder Prashant Kumar stated, “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. We’ve created a best-in-class tech platform that addresses the major challenges of running an electric bus, empowering bus operators with the tech they need to transition. This approach makes the model highly scalable and could allow us to support over 3000 electric buses on Indian highways in the next 5-6 years. That’s what we see as being our superpower.”

The commercial agreement with Jio-bp pulse will allow Zingbus to utilize Jio-bp’s EV charging network and convenience sites across the country. Jio-bp pulse operates a network of EV fleet charging hubs and public fast-charging points, including installations along highways. It has recently installed its 5,000th charge point.

Gareth Burns, vice president of bp Ventures, noted that “Zingbus’ end-to-end tech platform looks to benefit both bus operators and customers, providing an affordable solution to intercity travel. Our investment and Jio-bp pulse’s commercial agreement could help bus operators in their transition to electric fleets whilst delivering a service that is reliable and lower cost. This investment demonstrates bp Ventures’ ambition to champion innovation in the energy sector, alongside working in support of bp’s broader strategy. We look forward to supporting Zingbus as they continue to grow.”

Also read: Magenta Mobility secures USD 22M investment commitment from bp Ventures and Morgan Stanley India Infrastructure