Fresh Bus raises Rs 7.5 crore to expand inter-city electric bus services
The funds raised will be allocated towards further developing technology, expanding the workforce, and enhancing the operational efficiency.
- Republic Business
- 1 min read
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Electric inter-city bus service startup, Fresh Bus, has successfully secured Rs 7.5 crore in its latest funding round. Notable investors in this second seed funding round include Kunal Shah, the Founder and CEO of CRED, Sudarshan Venu, Managing Director of TVS Motor, and Deepak Garg, Founder and CEO of Rivigo.
The funds raised will be allocated towards further developing technology, expanding the workforce, and enhancing the operational efficiency of Fresh Bus's existing fleet of 20 electric buses.
Fresh Bus previously secured Rs 16 crore in seed funding in November 2022, with support from Ixigo, an online travel solutions platform.
The company has ambitious plans for expansion, aiming to introduce 150 new buses and 10 new routes. Their target is to achieve a revenue of Rs 20 crore by December 2024. This funding and expansion strategy positions Fresh Bus as a significant player in India's evolving electric inter-city bus service sector.
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(With PTI inputs)