Private Equity

VC Fund Investments

Electric intercity transport player Fresh Bus raises $10.5 M led by Maniv

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Bengaluru-based all-electric intercity bus startup Fresh Bus has raised INR 87.5 crore (USD 10.5 million) in Series A funding round led by early-stage transportation-focused venture capital fund Maniv, with participation from Shell Ventures, Alteria Capital and existing investor Riverwalk Holdings.Fresh Bus will use the new funds to add 15 routes and deploy 150 new electric buses. The funds will also be deployed towards raising technological capabilities and strengthening its team.Fresh Bus was previously backed by CRED founder Kunal Shah, TVS Motors MD Sudarshan Venu, and Rivigo CEO Deepak Garg. Earlier, the firm also raised INR 16 crore (USD 2 million) from ixigo. The company claims to have ferried over 4 lakh passengers to date.