A series A investment round led by venture capital firm Maniv and including Shell Ventures, Alteria Capital, and current investor Riverwalk Holdings has collected Rs 87.5 crore for Fresh Bus.
The intercity bus startup, which had previously raised Rs 16 crore from ixigo, plans to use the most recent funding to expand operations, improve technology, and fortify its strategic team in order to spur growth. Additionally, it will be used to grow its route network by introducing 150 e-buses soon and 15 additional routes.
“Fresh Bus is demonstrating that the wide-scale decarbonisation of transportation is not a promissory burden but an already lucrative economic opportunity,” said Nate Jaret, partner at Maniv Mobility.
Sudhakar Chirra, Founder and CEO of Fresh Bus said. “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.”