India-based all-electric Fresh Bus raises $10.5M for expansion

India-based mobility startup Fresh Bus has raised $10.5 million in a Series A funding round.

Early-stage venture fund Maniv Mobility led the round with participation from Shell Ventures, Alteria Capital and existing investor Riverwalk Holdings. 

Fresh Bus operates a fleet of all-electric buses on intercity routes in India along with a digital-first customer experience that offers real-time bus tracking and a loyalty program. The company plans to use the funding to add 15 new routes and deploy 150 new electric buses.

“Having served over 4 lakh [400,000] passengers to date with an impeccable 95% on-time performance, an industry best, our goal is to establish a nationwide network and become the Indian market leader for intercity busing in the upcoming years,” said Sudhakar Chirra, founder and CEO of Fresh Bus.

“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.”

And said Nate Jaret, partner at Maniv Mobility, “Fresh Bus is demonstrating that the wide-scale decarbonization of transportation is not a promissory burden but an already lucrative economic opportunity. India’s intercity bus travel is ripe for disruption, and Sudhakar’s team is rapidly modernizing it through innovations in drivetrain, infrastructure and customer experience.”

In February 2023 Ixigo invested $3.1 million in Fresh Bus as part of its seed round for its launch.