FreshBus Seeks 100 Crore Series-A Funding for City-to-City Electric Buses
FreshBus, led by the founder of AbhiBus, a renowned bus booking platform, is preparing to raise 100 crore through a Series-A funding round from private equity and venture capital investors in the upcoming year. Since November 2022, FreshBus has successfully secured 23.5 crore in funding. CEO Sudhakar Reddy Chirra recently declared the company's aim to finalize the Series-A round by March 2024. The startup specializes in offering inter-city electric bus connectivity and has attracted investments from prominent supporters such as Sudarshan Venu from TVS Motor, Rohit Chennamaneni, Jayant Paleti, and Chaitanya Peddi, the founders of Darwinbox, along with contributions from travel portal ixigo, Kunal Shah, the founder of Cred, and Deepak Garg from Rivigo.
Chirra outlined FreshBus’s ambitious plans, aiming to have 1,000 buses and 40 charging stations in multiple states to serve 100 cities across India by March 2027. The startup's vision is in line with the increasing focus on sustainable transportation solutions. FreshBus is committed to growing its inter-city electric bus network, contributing to a more eco-friendly and efficient mobility system. As the Series-A funding progresses, FreshBus is set to make significant advancements toward its goals, leveraging support from investors who share the vision of a sustainable future in shared mobility. The startup’s dedication to deploying 1,000 buses and establishing 40 charging stations highlights its determination to be a pivotal force in transforming inter-city travel.
With substantial industry figures supporting FreshBus, the startup is poised to emerge as a major player in sustainable shared mobility, addressing commuters' changing needs while championing environmental awareness. The expected closure of the Series-A funding by March 2024 will drive FreshBus's expansion, ensuring the realization of its vision for a widespread network of electric buses and charging infrastructure across various states, benefitting 100 cities nationwide.
