By Priya Singh
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Updated On: 18-Dec-2024 06:08 AM
Zingbus has partnered with small and medium-sized bus operators and served over two million users across 300 cities.
Key Highlights:
bp Ventures has invested $9 million in Zingbus, an intercity bus platform headquartered in Delhi, as part of its Series A funding. Zingbus offers a technology-driven platform to bus operators and passengers, focusing on fleet management, route optimization, pricing, and ticketing.
India’s Expansive Road Network
India’s road network, the second largest globally, spans about 6.4 million kilometers, with approximately 50 million people traveling between cities daily. Since its launch in 2019, Zingbus has partnered with small and medium-sized bus operators and served over two million users across 300 cities.
Focus on Electric Vehicles
Zingbus is addressing challenges like service reliability and accessibility while promoting safer, more efficient travel. The platform also supports traditional bus operators in transitioning from internal combustion engine (ICE) buses to electric vehicles (EVs).
Zingbus CEO Prashant Kumar highlighted the cost advantages of EVs over diesel buses and emphasized the opportunity presented by the Indian government’s goal of achieving a fully electric bus fleet by 2030.
"Our platform streamlines the transition to electric buses while addressing operational challenges, creating a scalable model for the future," Kumar said.
Partnership with Jio-bp Pulse
Zingbus has entered into a commercial partnership with Jio-bp Pulse, a joint venture of Reliance and bp, to utilize its EV charging infrastructure. Jio-bp Pulse currently operates charging hubs and public fast-charging points across cities and highways, recently surpassing 5,000 charging points.
bp Ventures and India’s EV Growth
Gareth Burns, Vice President of bp Ventures, stated that Zingbus offers a cost-effective and reliable solution for intercity travel while supporting sustainable energy and mobility. This investment aligns with BP Ventures’ commitment to innovative energy solutions.
Kartikeya Dube, Head of Country at bp India, highlighted that this partnership enhances bp’s energy and mobility offerings in India, aiding the expansion of electric vehicles and providing a range of energy solutions for customers.
About bp Ventures
bp Ventures, the investment arm of bp, focuses on supporting innovative technologies and visionary founders aiming to revolutionize the energy sector. The venture arm backs startups from Series A onwards, with occasional investments in earlier stages.
Since its inception in 2007, bp Ventures has invested $1.2 billion in capital across four funds, supporting around 75 startups globally. The initiative aligns with bp’s strategy to enhance core operations while fostering opportunities for disruptive advancements in the future.
bp Ventures plays a critical role in driving bp’s transition growth engines, contributing to sustainable energy solutions and transformational ideas shaping the energy industry.
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CMV360 Says
bp Ventures' investment in Zingbus shows the growing demand for innovative platforms in India’s travel sector. Zingbus has the potential to improve accessibility and reliability for millions of passengers while encouraging the shift to electric vehicles. Achieving the EV goals for 2030 will depend on sustained efforts, strategic partnerships, and expanded charging infrastructure.