Fresh Bus secures Rs 7.5 crore in second seed funding round
The company is targeting a revenue of Rs 20 crore by December 2024.
Fresh Bus, India’s first full-stack sustainability-centric shared mobility company secured a second seed funding of Rs 7.5 crore from several investors such as Cred's Kunal Shah, Sudarshan Venu, Managing Director of TVS Motors, and Deepak Garg, Founder and CEO of Rivigo.
The company will use the funds for further technology development and workforce expansion and achieve better operational efficiency for its existing 20 electric buses.
Fresh Bus, which raised Rs 16 crore in seed funding last year, reported a turnover of Rs 6.5 crore from April 2023 to October 2023.
The company is gearing up to expand its operations by introducing 150 new buses, and 10 new routes targeting a revenue of Rs 20 crore by December 2024.
Sudhakar Reddy, Founder and CEO, Fresh Bus said, “The ultimate goal is to ensure that customers readily choose sustainable modes of transportation by ensuring that our services feature the best travel experience and convenience.”
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