Fresh Bus Secures INR 87.5 Crore in Series A Funding to Expand Electric Bus Fleet

Telangana- Fresh Bus Pvt Ltd., Premier Intercity Electric AC Bus Service, has successfully completed its Series A funding round, raising INR 87.5 crore (about USD 10.5 million). The round was led by Maniv Mobility, an international early-stage venture capital fund specializing in transportation, with additional contributions from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings.

Founded just last year, Fresh Bus has swiftly emerged in electric bus mobility. Operating a fleet of 20 electric buses on routes such as Bengaluru-Tirupati and Hyderabad-Vijayawada, the company offers eco-friendly travel with features like real-time tracking, a loyalty program, and seamless ticketing. With new funding, Fresh Bus plans to expand by adding 15 routes and deploying 150 more electric buses, aiming to strengthen its presence across South India and eventually nationwide. The investment will also boost technological capabilities and enhance its strategic team for accelerated growth.

Mr. Sudhakar Chirra, Founder & CEO of Fresh Bus, “By delivering exceptional customer experiences and utilizing technology such as real-time tracking and AI-driven insights, Fresh Bus has surpassed competitors with higher occupancy rates and increased revenues.”

Since its inception, Fresh Bus has served over 4 lakh passengers, maintaining an industry-leading 95% On-Time Performance (OTP). The company’s contributions to environmental sustainability are notable, having saved over 42 lakh liters of diesel and reducing nearly 15,000 tons of CO2 emissions—equivalent to saving approximately 2.5 lakh trees.

“With this new funding, our goal is to establish a nationwide network and become the Indian market leader in intercity bussing over the next few years,” said Chirra. “We aim to scale to 1,000 electric buses across India in the next four years, creating skilled employment opportunities and offering a green alternative for mass road transportation. To achieve this, we will focus on innovation, operational efficiency, and strategic partnerships while adding 15 new routes and deploying 150 additional electric buses to expand our footprint and maintain our competitive edge.”

The intercity bus market in India, valued at over INR 84,000 crore, caters to more than one crore passengers every day. Fresh Bus is strategically positioning itself as a major player in this sector by harnessing advancements in drivetrain technology, infrastructure, and customer experience. The company aims to deploy 1,000 electric buses across India within the next four years, providing a sustainable and efficient alternative for intercity travel.

Mr. Nate Jaret, Partner at Maniv Mobility, said, “Fresh Bus is proving that large-scale decarbonisation of transportation is not just possible but also economically viable. India’s intercity bus travel is ready for disruption, and Sudhakar’s team is leading the charge.”

Mr. Robert Linck, Shell Ventures’ Chief Investment Officer, said, “Electrifying mobility in India presents a unique opportunity to improve air quality, reduce emissions, and lower costs. Fresh Bus is at the forefront of this transformation, driven by a data-driven, customer-centric approach.”

Mr. Jai Sumer Singh, Partner at Riverwalk Holdings, said about the startup’s progress “We are thrilled to continue supporting the Fresh Bus team as they create a sustainable and customer-first bus travel experience.”

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