Fresh Bus secures Rs 7.5 crore for inter-city service

• ByStartupStory     |    November 1, 2023

Fresh Bus, an electric inter-city bus service startup, announced that it has successfully secured Rs 7.5 crore in its recent funding round. This second seed funding round garnered investments from notable individuals, including Kunal Shah, the Founder and CEO of CRED; Sudarshan Venu, the Managing Director of TVS Motor; and Deepak Garg, the Founder and CEO of Rivigo, according to the company’s official statement.

The company plans to allocate these funds towards advancing its technology, expanding its workforce, and enhancing the operational efficiency of its current fleet of 20 electric buses.

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Fresh Bus had previously raised Rs 16 crore in seed funding in November 2022, with support from Ixigo, an online travel solutions platform. Looking ahead, the company is gearing up for expansion, intending to introduce 150 new buses and establish 10 new routes. Their ambitious goal is to reach a revenue of Rs 20 crore by December 2024.

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