Bengaluru-based all-electric intercity bus startup, Fresh Bus, has successfully raised ₹87.5 crore (approximately $10.5 million) in a Series A funding round.
The funding was led by Maniv Mobility, a venture capital firm specializing in transportation, with participation from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings.
Funding Utilization and Expansion Plans
Fresh Bus plans to strategically allocate the newly acquired funds to expand its operations and enhance its services. The key areas of focus include:
- Route Expansion: Fresh Bus aims to introduce 15 new routes, providing more connectivity across various cities.
- Fleet Growth: The startup intends to add 150 additional electric buses to its fleet, with an ambitious goal of scaling up to 1,000 electric buses across India within the next four years.
- Technological Enhancements: A portion of the funding will be dedicated to improving technological capabilities, including advancements in digital services and real-time tracking, as well as strengthening the strategic team to support the company’s growth.
Current Operations
Fresh Bus currently operates a fleet of 20 electric buses, offering eco-friendly travel options on routes such as Bengaluru-Tirupati and Hyderabad-Vijayawada.
The company prioritizes a digital-first customer experience, featuring in-class ticketing, real-time bus tracking, and a robust loyalty program.
To date, Fresh Bus has served over 400,000 passengers, maintaining a 95% on-time performance rate, which is regarded as an industry-leading standard.
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Vision for the Future
Founder and CEO Sudhakar Reddy Chirra has expressed his ambition to position Fresh Bus as a leader in the Indian intercity bus market.
The company is focused on providing a sustainable alternative for mass transportation while creating skilled employment opportunities across the country.
As Fresh Bus continues to grow, it aims to revolutionize the intercity travel experience in India, emphasizing environmental sustainability and technological innovation.
The successful Series A funding marks a significant milestone in Fresh Bus’s journey toward becoming a major player in the electric bus industry.
