Le Travenues Technology, the parent company of travel booking platform ixigo, has agreed to sell its 17.39% stake in electric intercity bus startup FreshBus to Twelve Stone LLP for Rs 36.6 crore. According to a regulatory filing, the transaction was agreed upon on August 13 and is expected to be completed by August 30. Following the deal, ixigo’s stake in FreshBus will fall from 26.66% to 8.27%. FreshBus will no longer be an associate company of ixigo. Twelve Stone LLP, whose designated partners include FreshBus founder and MD Sudhakar Reddy Chirra and Sasya Chirra, will acquire the stake. The transaction is not classified as a related party transaction, according to the filing. ixigo had invested in FreshBus earlier. Its investment in the company stood at Rs 18.87 crore as of March 31, 2026. FreshBus reported a loss of Rs 11.22 crore in FY26. FreshBus raisedRs 87.5 crorein its Series A round in August 2024, led by Maniv Mobility with participation from Shell Ventures, Alteria Capital and Riverwalk Holdings. The startup had earlier raisedRs 7.5 crorefrom CRED founder Kunal Shah, TVS Motors MD Sudarshan Venu and Rivigo founder Deepak Garg. ixigo had also invested in FreshBus. FreshBus was founded by Sudhakar Reddy Chirra, who previously built bus aggregator AbhiBus. ixigo acquired AbhiBus in 2021 through a cash and stock deal. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
