December 17, 2024 | New Delhi
bp Ventures, the corporate venture arm of bp, has invested $9 million in Zingbus, India’s leading intercity bus platform. This investment, part of Zingbus’ Series A funding round, will scale operations, enhance technology, and accelerate the adoption of electric buses across India’s vast intercity routes.
Key Highlights
- About the Investment:
- bp Ventures’ $9 million investment strengthens Zingbus’ efforts to revolutionize India’s intercity bus sector.
- The funds will be used to scale operations, grow the team, and support the transition from ICE (internal combustion engine) buses to electric vehicles (EVs).
- Commercial Agreement with Jio-bp Pulse:
- Zingbus has partnered with Jio-bp pulse, which operates India’s largest EV charging hubs and fast-charging networks.
- The collaboration will ensure seamless charging infrastructure for bus operators adopting EVs through the Zingbus platform.
- India’s Growing Intercity Mobility Market:
- India has the second-largest road network globally, with 50 million people traveling daily between cities.
- Zingbus, since its inception in 2019, has:
- Served 2 million+ users.
- Partnered with small and medium bus operators across 300 Indian cities.
- EV Transition Strategy:
- Zingbus’ tech platform helps bus operators optimize fleet management, pricing, and routes while transitioning to electric fleets.
- The scalable model aims to support over 3,000 electric buses on Indian highways in the next 5–6 years.
Leadership Insight
Prashant Kumar, CEO and Co-founder of Zingbus, stated:
“We’ve built a best-in-class tech platform to address challenges in electric bus operations. This partnership makes transitioning to EVs cost-efficient and scalable while ensuring safer and affordable travel.”
Gareth Burns, VP at bp Ventures, added:
“Our investment aligns with bp Ventures’ ambition to accelerate innovation in clean energy and mobility. Together with Jio-bp pulse, we aim to electrify India’s intercity transport.”
Why It Matters
- Sustainability: Supports India’s goal of achieving a 100% electric bus fleet by 2030.
- Tech-Driven Growth: Empowers traditional bus operators with advanced tools for fleet optimization and EV transition.
- Scalable Impact: The Zingbus model can transform the fragmented intercity bus market and promote cleaner, reliable transportation.
