LeafyBus, a Delhi-based intercity electric bus startup, has raised $4.1 million in a pre-Series A round from Enetra EV, backed by Singapore’s Impact Capital Asia Management (ICAM).
The fresh funding will be deployed to expand its EV fleet and launch new intercity routes.
Founded in 2023 by Rohan Dewan and Animesh Sharma, LeafyBus currently operates buses on the Delhi–Dehradun and Delhi–Agra routes. The company plans to introduce 100 more buses within two years, extending its network to Chandigarh and Jaipur.
LeafyBus positions itself as the only long-distance bus operator with a 360 kW fast-charging station. Its fleet is sourced from JBM and Azad India Mobility, with partnerships in the pipeline with Tata Motors and Eicher. The startup follows a hybrid model, owning about 20–25% of its buses while leasing the rest.
The company is targeting ₹75–80 crore revenue in FY26, and competes with players such as NueGo, Fresh Bus, Zingbus, Yolobus, FlixBus, and Redbus.
In comparison, Fresh Bus raised $10.5M Series A (2023) and Zingbus secured $7M from bp Ventures. With India’s EV market projected to grow from $23.38B in 2024 to $117.78B by 2032 (CAGR: 22.4%), LeafyBus aims to carve a significant niche in sustainable intercity travel.
By: Arushi Agarwal
