Bengaluru-based intercity bus startup Fresh Bus has successfully raised Rs 87.5 crore ($10.5 million) through a Series A funding round. This round was led by Maniv, an international early-stage transportation-focused venture capital fund, with participation from Shell Ventures, Alteria Capital, and Riverwalk Holdings.
Fresh Bus currently operates a fleet of 20 electric buses, providing affordable and eco-friendly travel options on its Bengaluru-Tirupati and Hyderabad-Vijayawada routes. The company offers a digital-first customer experience, including online ticketing, real-time bus tracking, and a robust loyalty program.
With the newly acquired funds, Fresh Bus plans to expand its network by adding 15 new routes and launching 150 additional electric buses. The startup intends to use the investment to scale operations, enhance technological capabilities, and strengthen its strategic team to drive further growth.
The startup is supported by industry leaders such as Kunal Shah, Founder & CEO of CRED; Sudarshan Venu, Managing Director of TVS Motors; and Deepak Garg, CEO & Founder of Rivigo. Earlier, Fresh Bus secured an investment of Rs 16 crore from a leading Indian online travel aggregator.
Having served over four lakh passengers with a remarkable 95% On-Time Performance (OTP), which is among the best in the industry, Fresh Bus aims to establish a nationwide network and become the market leader in intercity bus travel in India. The company plans to scale up to 1,000 electric buses across the country over the next four years, creating skilled employment opportunities and offering a green alternative for mass road transportation.
Fresh Bus is showcasing that wide-scale decarbonisation of transportation is not just a future goal but an already viable economic opportunity, according to a partner at the transportation-focused venture fund.
