A series A investment round accompanied by venture capital firm Maniv and involving Shell Ventures, Alteria Capital, and current shareholder Riverwalk Holdings has gathered Rs 87.5 crore for Fresh Bus.
The intercity bus startup, which had previously raised Rs 16 crore from ixigo, intends to use the latest capital to strengthen its strategic team, expand operations, and enhance technology in an effort to accelerate expansion. It will also be utilized to expand its route network by adding 15 more routes and 150 e-buses in the near future.
According to Nate Jaret, partner at Maniv Mobility, Fresh Bus is demonstrating that the wide-scale decarbonization of transportation is not a promissory burden but an already lucrative economic opportunity.
Sudhakar Chirra, Founder and CEO of Fresh Bus said, “Over the next four years, we hope to expand to 1000 electric buses throughout India, create thousands of skilled jobs, and provide a more environmentally friendly option for mass transit.”
