Intercity EV bus startup LeafyBus raises $4.1 Mn from Enetra EV

Delhi-based intercity EV bus startup LeafyBus has raised $4.1 Mn in pre-Series A funding from Enetra EV, backed by Singapore’s Impact Capital Asset Management (ICAM). 

The fresh funds will be used to grow its electric bus fleet and expand services.

Founded in 2023 by Rohan Dewan and Animesh Sharma, LeafyBus currently runs electric buses on Delhi–Dehradun and Delhi–Agra routes. The startup now plans to add 100 more buses within the next two years and extend services to cities such as Chandigarh and Jaipur.

LeafyBus claims itself as the only long-distance bus operator using a 360 kW fast-charging station. Its fleet comes from OEMs like JBM and Azad India Mobility, with plans to partner with Tata and Eicher for future expansion. The firm follows a hybrid model, owning about 20–25% of its buses while leasing the rest.

The startup is aiming for a revenue of Rs 75–80 crore in FY26. Among intercity operators, it competes with NueGo, Fresh Bus, Zing Bus, Yolobus, FlixBus and Redbus.

Last year, ixigo-backed Fresh Bus raised $10.5 million in Series A funding, while Zingbus secured $7 Mn from bp Ventures. The Indian EV market is projected to grow from $23.38 billion in 2024 to $117.78 billion by 2032, at a CAGR of 22.4%.