The investment was led by Maniv, an international early-stage venture capital fund focused on transportation, with participation from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings. The company currently operates a fleet of 20 electric buses on routes such as Bengaluru-Tirupati and Hyderabad-Vijayawada, offering a seamless and eco-friendly travel experience with features like real-time bus tracking, a loyalty program, and advanced ticketing.

The purpose of the new funding is to expand Fresh Bus’s operations by adding 15 new routes and deploying 150 additional electric buses, as well as to enhance its technological capabilities and strengthen its strategic team. The company aims to establish a nationwide network and become the Indian market leader in intercity bussing, with a goal of scaling to 1,000 electric buses across India within the next four years.

Since its inception, Fresh Bus has served over 4 lakh passengers with a 95% On-Time Performance (OTP) and has made significant contributions to environmental sustainability by saving over 42 lakh liters of diesel and reducing nearly 15,000 tons of CO2 emissions. The company plans to expand its operations across South India and eventually establish a pan-India presence, focusing on high-demand routes and leveraging partnerships and data-driven insights to identify key markets.

Investors are optimistic about the potential of Fresh Bus, with Maniv Mobility’s Nate Jaret highlighting the company’s role in the large-scale decarbonization of transportation and Shell Ventures’ Robert Linck emphasizing the opportunity to improve air quality and reduce emissions in India. Riverwalk Holdings’ Jai Sumer Singh also expressed support for the Fresh Bus team’s efforts to create a sustainable and customer-first bus travel experience.