Fresh Bus Secures Rs 87.5 Crore in Series A Funding

Key Highlights:

• Fresh Bus raises Rs 87.5 Crore in Series A funding.
• Funds will expand operations, tech, and team.
• Plans include 150 e-buses and 15 new routes.

Fresh Bus has raised Rs 87.5 crore in Series A funding, led by venture capital firm Maniv, with participation from Shell Ventures, Alteria Capital, and previous investor Riverwalk Holdings.

Plans for Growth and Expansion

The intercity bus startup, which previously raised Rs 16 crore from ixigo, plans to use the new capital to expand its operations, improve its technology skills, and strengthen its strategic team in order to accelerate growth. It will also be used to expand the company's route network, with 15 new routes and 150 electric buses set to begin soon.

"Fresh Bus demonstrates that wide-scale decarbonisation of transportation is not a promising burden, but an already profitable economic opportunity," stated Nate Jaret, partner at Maniv Mobility.

Sudhakar Chirra, Founder and CEO of Fresh Bus, stated. "We expect to scale to 1000 electric buses pan-India over the next four years, generate skilled employment opportunities for thousands of people and offer a green alternative for mass road transportation."

Also Read: Electric Buses Sales Report July 2024: Tata Motors Emerges as Top Choice for E-Buses

CMV360 Says

Fresh Bus's new funding and expansion plans show that electric buses are becoming a practical and profitable option for sustainable transportation in India. With strong backing from investors and clear goals, Fresh Bus is ready to make a big impact on intercity travel.