Hyderabad, Nov 01- Fresh Bus, the innovative electric inter-city bus service, announced a successful second seed funding round of INR 7.5 Crore from prominent investors including Kunal Shah (Founder and CEO of CRED), Sudarshan Venu (Managing Director of TVS Motors), and Deepak Garg (Founder and CEO of Rivigo). This funding will fuel the company’s operational efficiency, technology development, and workforce expansion.
The financial injection follows Fresh Bus’s initial seed funding of INR 16 Crore last November from Ixigo, an online travel solutions platform. The company, with a fleet of 20 electric buses, aims to revolutionize shared mobility, offering a sustainable alternative for inter-city travel.
Fresh Bus, founded by Sudhakar Reddy Chirra, has experienced substantial growth, reporting a turnover of INR 6.5 Crore from April 2023 to October 2023. The newly secured capital will be dedicated to technology development, expanding the workforce, and enhancing operational efficiency.
Sudhakar Reddy, Founder and CEO of Fresh Bus, expressed his excitement about the seed fund, stating, “The secured capital from the current seed fund will be allocated towards tech development and augmenting manpower, setting the stage for the company to enhance its services and accelerate its growth.”
Fresh Bus has ambitious plans for expansion, with the introduction of 150 new buses and 10 new routes. The company targets a revenue of INR 20 Crore by December 2024, further solidifying its position in the sustainable inter-city travel sector.
