EV Ride-hailing Startup BluSmart Raises $25 Million In Series A Funding Round
BluSmart, an EV ride-hailing and charging company, has raised $25 million in a Series A funding round led by BP Ventures.
BP Ventures invested $13 million in the startup, making its first direct investment in India. The funding round also saw participation from Mayfield India Fund, 9Unicorns, and Survam Partners, alongside other existing investors.
The EV ride-hailing and charging company will use the capital to expand its fleet of electric vehicles and charging stations from its home city of Delhi to five additional Indian cities in the next two years.
BluSmart | EV Ride-hailing And Charging Company
Started by Anmol Singh Jaggi and Punit K Goyal, BluSmart is India’s first all-electric shared smart mobility platform offering efficient, affordable, intelligent and sustainable mobility.
Speaking on the development, Anmol Singh Jaggi, Co-founder of BluSmart, said,
“We want to redefine ride-hailing with electric vehicles, and our consumer focus has helped us to already establish a strong brand presence in our core market; to date our vehicles have travelled over 21 million kilometres. This latest funding infusion will help us grow as we work with BP to help transform India’s high-polluting cities and redefine ride-hailing with electric vehicles.”
Having the largest EV charging infrastructure in India and a growing fleet of electric vehicles, BluSmart aims to transform ride-hailing in India. The EV ride-hailing and charging company has completed more than 650,000 passenger trips to date. In September 2020, BluSmart raised $7 million (Rs 51 crore) in a pre-Series A funding round from various investors.
Sashi Mukundan, President, BP India and senior vice president, BP Group, stated that India is making rapid progress in increasing the use of electric vehicles by providing mobility solutions for its people. And with their investment in BluSmart, BP group reinforces its commitment to partner in India’s aim to achieve its climate goals and be Atmanirbhar.
Additionally, Sophia Nadur, Managing Partner at BP Ventures, will join BluSmart’s board.
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