The company has secured approximately INR 110 crore across three funding rounds, with two seed fundings occurring last year. Presently, Fresh Bus operates 20 electric buses along the Bengaluru-Tirupati and Hyderabad-Vijayawada routes. The latest investment will facilitate the expansion into 15 additional routes and the introduction of 150 new electric buses.
Fresh Bus, an all-electric intercity bus startup, announced on Tuesday that it has secured USD 10.5 million (approximately INR 87.5 crore) in a Series A funding round. The investment was spearheaded by Maniv and included contributions from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings. The capital will be utilized to broaden operations, advance technology, expand the team, and augment the fleet.
To date, the company has accumulated roughly INR 110 crore through three rounds of funding, including two seed fundings last year. Fresh Bus currently manages 20 electric buses on routes between Bengaluru-Tirupati and Hyderabad-Vijayawada. The additional capital will support the launch of 15 new routes and the addition of 150 more electric buses. Sudhakar Chirra, founder and CEO of Fresh Bus, said the company aims to develop a national network and position itself as the leader in the Indian intercity bus market in the coming years. They plan to expand to 1,000 electric buses across India within the next four years, create skilled job opportunities, and provide a sustainable mass road transport option.
This new influx of funds is expected to bolster the company’s ambitious plans by enhancing operational scale, technological advancements, and team expansion. It will also support the increasing fleet of electric buses, aligning with Fresh Bus’s vision for growth.
With its commitment to sustainable transportation and plans for national expansion, Fresh Bus is poised to transform the intercity travel landscape in India. This recent capital injection is a vital step toward achieving that transformation, setting the stage for future growth and scalability.
