Bengaluru based Fresh Bus Scoops up $10.5 million in Series A Funding round
Bengaluru-based all-electric intercity bus startup Fresh Bus has secured Rs. 87.5 crore nearly $10.5 million in a Series A funding round.
The funding round was spearheaded by Maniv, an international venture capital fund that focuses on early-stage investments in the transportation sector. In addition to Maniv, the round saw participation from Shell Ventures, which invests in innovative energy solutions, Alteria Capital, a provider of debt capital to high-growth businesses, and Riverwalk Holdings, an existing investor in Fresh Bus. This diverse group of investors underscores strong confidence in Fresh Bus’s potential to revolutionize intercity travel with its all-electric buses.
Fresh Bus plans to utilize the raised capital to expand its operations by introducing 15 new routes and deploying 150 additional electric buses. The startup will also concentrate on advancing its technological capabilities and strengthening its team.
Additionally, Fresh Bus is supported by prominent investors including Kunal Shah, founder of CRED; Sudarshan Venu, MD of TVS Motors; and Deepak Garg, CEO of Rivigo.
Sudhakar Chirra, founder and CEO of Fresh Bus, announced that the company plans to expand to 1,000 electric buses across India within the next four years.
“We aim to grow our fleet to 1,000 electric buses nationwide over the next four years, create skilled job opportunities for thousands, and provide an eco-friendly alternative for mass road transportation,” Chirra stated.
Sudhakar Reddy Chirra is also the founder of Abhibus, a bus aggregator acquired by ixigo in August 2021 through a cash and stock transaction.
Currently, Fresh Bus is operating in 20 electric buses,and offering eco-friendly and affordable travel on routes such as Bengaluru-Tirupati and Hyderabad-Vijayawada. The startup claimed that by now they have transported more than 4 lakh passengers.
The startup is dedicatedly operating 20 electric buses and offering a digital-first customer experience which is characterized by in-class ticketing, real-time bus tracking, and a comprehensive loyalty program.
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The funding round was spearheaded by Maniv, an international venture capital fund that focuses on early-stage investments in the transportation sector. In addition to Maniv, the round saw participation from Shell Ventures, which invests in innovative energy solutions, Alteria Capital, a provider of debt capital to high-growth businesses, and Riverwalk Holdings, an existing investor in Fresh Bus. This diverse group of investors underscores strong confidence in Fresh Bus’s potential to revolutionize intercity travel with its all-electric buses.
Fresh Bus plans to utilize the raised capital to expand its operations by introducing 15 new routes and deploying 150 additional electric buses. The startup will also concentrate on advancing its technological capabilities and strengthening its team.
Additionally, Fresh Bus is supported by prominent investors including Kunal Shah, founder of CRED; Sudarshan Venu, MD of TVS Motors; and Deepak Garg, CEO of Rivigo.
Sudhakar Chirra, founder and CEO of Fresh Bus, announced that the company plans to expand to 1,000 electric buses across India within the next four years.
“We aim to grow our fleet to 1,000 electric buses nationwide over the next four years, create skilled job opportunities for thousands, and provide an eco-friendly alternative for mass road transportation,” Chirra stated.
Sudhakar Reddy Chirra is also the founder of Abhibus, a bus aggregator acquired by ixigo in August 2021 through a cash and stock transaction.
Currently, Fresh Bus is operating in 20 electric buses,and offering eco-friendly and affordable travel on routes such as Bengaluru-Tirupati and Hyderabad-Vijayawada. The startup claimed that by now they have transported more than 4 lakh passengers.
The startup is dedicatedly operating 20 electric buses and offering a digital-first customer experience which is characterized by in-class ticketing, real-time bus tracking, and a comprehensive loyalty program.
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