July 16, 2024: BluSmart, an EV ride-hailing service has secured $24 million in a pre-Series B funding round, to propel operations and establish more EV charging infrastructure and assets across several prominent Indian cities.
The company claims to own 1.38 million plus happy riders, with 515 Million clean kms covered and contributing a saving of 33k tonnes of carbon dioxide.
BluSmart To Expand Integrated Energy-Infrastructure, Mobility Technology
“BluSmart is building an integrated energy-infrastructure, mobility, and technology company to take the full advantage of the EV revolution. Our latest fundraise of $24 million is an important step in our journey to scale the eMobility fleet and EV Charging Infrastructure,” said Punit Goyal, Co-founder of the EV ride-hailing service firm.
EV ride-hailing service firm was founded in 2019 by Goyal and Anmol Jaggi, presently operates in Delhi NCR and Bengaluru. It made its first international debut in Dubai in June.
“Investing in BluSmart’s sustainable business model is not just about supporting a company; it’s about being part of a movement that shapes the future of mobility. In a world where innovation drives sustainable choices, I am excited to back BluSmart’s pioneering efforts in reshaping urban transportation,” said former Indian Cricket captain Mahendra Singh Dhoni, an investor in the startup.
The company stated that its EV fleet has scaled to about 7,500 across operating cities from 70 EVs in January 2019. It recently crossed Rs 550 crores in annual revenue run-rate.
The fundraise included new investors responsAbility Investments, Sumant Sinha, MS Dhoni Family Office, existing investors, and startup founders.
