Fresh Bus Raises INR 87.5 Crore Series A To Expand Route Network And Scale Operations

-          The new round of funding is being led by prominent investor Maniv, with participation from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings

-          Fresh Bus will utilize the new funds to add 15 routes and deploy 150 new electric buses

All-electric, digital-first intercity bus startup Fresh Bus has raised INR 87.5 Crore ($10.5 million) through its Series A funding round. The Series A financing was led by international early-stage transportation-focused VC fund Maniv, with participation from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings.

With its state-of-the-art fleet of 20 electric buses, Fresh Bus today provides seamless, convenient, affordable and eco-friendly travel on its current Bengaluru-Tirupati and Hyderabad-Vijayawada routes. Fresh Bus offers customers a digital-first customer experience, with best-in-class ticketing, real-time tracking of buses, a robust loyalty program, and more.

With this new injection of funding, Fresh Bus will expand its route network by adding 15 new routes and launching 150 e-buses soon. The new round will finance Fresh Bus’ fast-growing fleet. Fresh Bus will use the funds to scale its operations, enhance its technological capabilities, and strengthen its strategic team to drive growth. Fresh Bus was previously backed by notable industry leaders including Kunal Shah, Founder & CEO, CRED, Sudarshan Venu, MD, TVS Motors, and Deepak Garg, CEO & Founder, Rivigo. Earlier, Fresh Bus also secured 16 Cr as an investment from ixigo, a leading Indian OTA.

"Having served over 4 lakh passengers to date with an impeccable 95% OTP (On-Time Performance), an industry best, our goal is to establish a nationwide network and become the Indian market leader for intercity bussing in the upcoming years,” said Sudhakar Chirra, Founder & CEO of Fresh Bus: “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.”

Every day, over a hundred thousand bus services transport over 1 Cr Indians between the country’s cities, a market worth over INR 84,000 crore today. Since its inception, Fresh Bus has saved over 42 lakh liters of diesel, reducing nearly 15,000 tons of CO2 emissions – an impact equivalent to saving about 2.5 lakh trees.

“Fresh Bus is demonstrating that the wide-scale decarbonization of transportation is not a promissory burden but an already lucrative economic opportunity,” said Nate Jaret, partner at Maniv Mobility, a transportation-focused early-stage venture fund investing globally. "India’s intercity bus travel is ripe for disruption, and Sudhakar’s team is rapidly modernizing it through innovations in drivetrain, infrastructure, and customer experience."

“Electrifying mobility in India offers a unique chance to improve air quality, cut emissions, and reduce costs. Fresh Bus leads in electric intercity travel, driven by a data-driven, customer-focused approach.", said Robert Linck, Shell Ventures’ Chief Investment Officer.

"We are excited to double down on our investment and back the Freshbus team to create a sustainable and customer-first bus travel experience", said Jai Sumer Singh, Partner at Riverwalk Holdings, an early-stage VC fund.