Electric inter-city bus service startup Fresh Bus raises Rs 7.5 crore

The fund will be utilised for further technology development and workforce expansion and achieve better operational efficiency for its existing fleet of 20 electric buses, the company said in a statement.

Electric inter-city bus service startup Fresh Bus raises Rs 7.5 crore
Electric inter-city bus service startup Fresh Bus said it has raised Rs 7.5 crore in a funding round. Pic: freshbus.com

Electric inter-city bus service startup Fresh Bus on Tuesday said it has raised Rs 7.5 crore in a funding round. The investors in the second seed funding round include Kunal Shah, Founder and CEO of CRED; Sudarshan Venu, Managing Director of TVS Motor; and Deepak Garg, Founder and CEO of Rivigo, the company said in a statement.

The fund will be utilised for further technology development and workforce expansion and achieve better operational efficiency for its existing fleet of 20 electric buses, it added.

In November 2022, the company raised Rs 16 crore in seed funding from Ixigo, an online travel solutions platform.

The company said it is preparing to expand its operations by introducing 150 new buses and 10 new routes targeting a revenue of Rs 20 crore by December 2024.

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Written By: PTI
Updated: Tue, Oct 31, 2023
02:40 PM IST
PTI
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