FreshBus Targets 100 Crore Funding in Series-A Round for Sustainable Inter-City Electric-Bus Connectivity

• ByStartupStory     |    December 16, 2023

Sustainable shared mobility startup FreshBus, spearheaded by the founder of the renowned bus booking platform AbhiBus, is gearing up to secure 100 crore from private equity and venture capital investors through a Series-A funding round in the coming year.

Since November 2022, FreshBus has successfully secured a total of INR 23.5 crore in funding, and CEO Sudhakar Reddy Chirra announced on Thursday the company’s intention to conclude the Series-A round by March 2024. The startup, focused on providing inter-city electric-bus connectivity, has attracted investments from notable backers, including TVS Motor MD Sudarshan Venu, Darwinbox founders Rohit Chennamaneni, Jayant Paleti, and Chaitanya Peddi, travel portal ixigo, Cred founder Kunal Shah, and Rivigo’s Deepak Garg.

Chirra outlined FreshBus’s ambitious plans, stating, “By March 2027, we are aiming for 1,000 buses and 40 charging stations across multiple states to cater to 100 cities across the nation.”

The startup’s vision aligns with the growing emphasis on sustainable and eco-friendly transportation solutions. FreshBus is dedicated to expanding its inter-city electric-bus network, contributing to a greener and more efficient mobility ecosystem.

As the Series-A funding unfolds, FreshBus is poised to make significant strides in achieving its targets, capitalizing on the support from investors who share the vision for a sustainable future in the realm of shared mobility. The startup’s commitment to deploying 1,000 buses and establishing 40 charging stations underscores its determination to play a pivotal role in reshaping the landscape of inter-city travel.

With notable figures from the industry already backing FreshBus, the startup is positioned to become a key player in sustainable shared mobility, addressing the evolving needs of commuters while making strides toward environmental consciousness.

The Series-A funding, expected to close by March 2024, will fuel FreshBus’s expansion plans, ensuring the realization of its vision for a widespread network of electric buses and charging infrastructure across various states, ultimately benefiting 100 cities nationwide.

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