August 14, 2024: Fresh Bus, an inter-state electric bus service provider, has chalked out aggressive growth plan, to meet its goal the firm has secured ₹87.5 crore in a Series A funding round.
The fresh capital raised will be invested on route expansion, to scale operations, enhance technological capabilities, and fortify the team strength. Furthermore, the start-up is looking to grow its network by adding 15 new routes and launching 150 e-buses.
Fresh Bus to Roll Out 1000 EVs Pan India in Next Four Years
“We expect to scale to 1,000 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,” said Sudhakar Chirra, Founder & CEO of Fresh Bus.
The start-up raised ₹43.7 crore last month in a Series A round. As per startup data intelligence platform TheKrediblle, FreshBus was a pre-revenue stage firm with a loss of Rs 2.1 crore during FY23. The company is yet to file its annual financial results for FY24.
The latest round of funding by Fresh Bus was led by early-stage transportation-focused VC fund Maniv, and saw participation from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings.
Fresh Bus operates 20 electric buses, providing eco-friendly and affordable travel on routes such as Bengaluru-Tirupati and Hyderabad-Vijayawada.
The startup is committed to offering a digital-first customer experience featuring in-class ticketing, real-time bus tracking, and a comprehensive loyalty program.
