FreshBus, a sustainable shared mobility startup led by the founder of the renowned bus booking platform AbhiBus, is gearing up for a significant financial boost. The startup, which focuses on providing inter-city electric bus connectivity, has outlined ambitious plans to secure INR 100 crore through a Series-A funding round in the coming year. Since November 2022, FreshBus has already secured INR 23.5 crore in funding, attracting notable backers from the industry.
Recent Funding and Investor Backing
FreshBus’s journey in securing funds has been impressive, with investments totaling INR 23.5 crore coming in November 2022. Notable investors include TVS Motor MD Sudarshan Venu, Darwinbox founders Rohit Chennamaneni, Jayant Paleti, and Chaitanya Peddi, travel portal ixigo, Cred founder Kunal Shah, and Rivigo’s Deepak Garg. The startup’s ability to attract support from such prominent figures reflects the industry’s growing interest in sustainable and eco-friendly transportation solutions.
CEO Sudhakar Reddy Chirra announced FreshBus’s intention to conclude a Series-A funding round by March 2024. The startup aims to secure INR 100 crore from private equity and venture capital investors, marking a crucial step in its journey toward reshaping inter-city mobility. The funds raised will play a pivotal role in realizing FreshBus’s ambitious expansion plans and contributing to the development of a more sustainable and efficient mobility ecosystem.
FreshBus has set an ambitious vision for itself, aiming to deploy 1,000 electric buses and establish 40 charging stations across multiple states by March 2027. This strategic approach aligns with the global emphasis on sustainable transportation solutions. The startup’s commitment to a widespread network of electric buses and charging infrastructure reflects its determination to play a transformative role in the evolving landscape of inter-city travel.
Contributing to a Greener Mobility Ecosystem
As the world increasingly recognizes the need for sustainable practices, FreshBus stands out as a key player in the shared mobility sector. The startup’s focus on electric buses and eco-friendly solutions addresses the evolving needs of commuters while contributing to environmental consciousness. By promoting sustainable transportation, FreshBus is positioned to make a positive impact on both the daily lives of individuals and the broader challenges of climate change.
The upcoming Series-A funding round, expected to conclude by March 2024, is poised to propel FreshBus to new heights. The additional capital will be instrumental in realizing its expansion plans, including the deployment of electric buses and the establishment of charging infrastructure. The support from investors who share the vision for a sustainable future in shared mobility will be crucial in achieving these targets.
FreshBus’s journey from securing initial funding to gearing up for a Series-A funding round underscores the growing significance of sustainable mobility solutions. As the startup aims to reshape inter-city travel with a focus on eco-friendly practices, it is poised to become a key player in the evolving landscape of shared mobility. With a vision for a greener future and the support of notable investors, FreshBus is well-positioned to drive positive change in the way we approach and experience inter-city mobility.