LeafyBus Secures Funding to Expand Electric Bus Services

LeafyBus, an electric vehicle (EV) bus startup based in Delhi, has successfully raised $4.1 million in pre-Series A funding from Enetra EV, with support from Singapore’s Impact Capital Asia Management (ICAM). This recent investment will facilitate the growth of its electric bus fleet and the expansion of its services.

Founded in 2023 by Rohan Dewan and Animesh Sharma, LeafyBus currently operates electric buses on routes connecting Delhi with Dehradun and Agra. The startup aims to add 100 more buses over the next two years and plans to broaden its service areas to include cities such as Chandigarh and Jaipur.

Innovative Charging Solutions

LeafyBus positions itself as the sole long-distance bus operator equipped with a 360 kW fast-charging station. Its bus fleet comprises models from OEMs such as JBM and Azad India Mobility, with intentions to collaborate with Tata and Eicher for future growth. The company implements a hybrid model, owning approximately 20–25% of its buses while leasing the remainder.

Revenue Aspirations and Market Competition

The startup is targeting a revenue of Rs 75–80 crore for the fiscal year 2026. In the competitive intercity bus sector, LeafyBus is up against established operators such as NueGo, Fresh Bus, Zing Bus, Yolobus, FlixBus, and Redbus.

In a related context, Fresh Bus, backed by ixigo, raised $10.5 million in Series A funding last year, while Zingbus secured $7 million from bp Ventures. The Indian EV market is anticipated to grow from $23.38 billion in 2024 to an impressive $117.78 billion by 2032, reflecting a compound annual growth rate (CAGR) of 22.4%.