The inter-state electric bus service provider, Fresh Bus, has raised ₹87.5 crore in a Series A funding round. The funding was led by early-stage transportation-focused VC fund Maniv, and saw participation from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings.
The funds raised will be deployed on route expansion, to scale operations, enhance technological capabilities, and strengthen the team. Additionally, the start-up is looking to grow its network by adding 15 new routes and launching 150 e-buses.
“We expect to scale to 1,000 electric buses pan-India over the next four years, generate skilled employment opportunities for thousands of people, and offer a green alternative for mass road transportation,” said Sudhakar Chirra, Founder & CEO of Fresh Bus.
The start-up raised ₹43.7 crore last month in a Series A round.