Mobility startup BluSmart raises Rs 51.4 crore

BluSmart, an all electric ride-hailing platform operating in India, has raised USD 7 million (Rs 51.43 crore) in pre-series A round funding.

The companies, Inflection Point Ventures, Venture Catalysts, Survam Partners, Mumbai Angels, Chhatisgarh Investments, JITO Angels, Lets Venture Fund and Kaplavriksh Fund, participated in the funding.

BluSmart plans using the fund to increase its electric car fleet, improve charging infrastructure, expanding the geographical reach and invest on technological advancements. According to media reports the company is also in talks to raise venture debt, it had raised USD 3 million in the seed round in September 2019.

Apart from this, to showcase that India is ready for electric vehicles, the company has set out for an all-electric journey. In this journey, company will be covering approximately 1376 km from Delhi to Mumbai, crossing multiple state borders.

The electric sedan, Mahindra e-Verito that features a three-phase AC induction motor paired to a 21.2kWh Lithium-Ion battery pack will be used for the journey. It can be noted that the company has a partnership with Mahindra Electric under which BluSmart has onboarded eVerito premium sedans in its cab fleet. 

The mobility company had also recently partnered with Okaya Power to make available electric vehicle (EV) charging stations infrastructure for BluSmart’s fleet operations.

Leave a Reply

Your email address will not be published. Required fields are marked *