BluSmart raises $24 million in Pre-Series B funding

BluSmart, a vertically integrated EV RideHailing service and EV Charging Infrastructure network has raised  $24 million (Rs 200 crore) in its Pre-Series B funding round.

The fundraise saw participation from new investors including responsAbility Investments AG, Sumant Sinha, MS Dhoni Family Officeexisting investors and BluSmart founders. The latest funding round will support BluSmart in expanding its operations and building real EV charging infrastructure and assets in the mega cities of India.

BluSmart EV Fleet has scaled over 110x from 70 EVs (Jan 2019) to 7,500 BluSmart EVs across Delhi NCR and Bangalore. BluSmart has achieved a historic milestone of over half a billion (500+ million) electric kms and delivered over 16 million electric trips saving nearly 40 million kgs of Co2 emissions since launch, the company claims in a release. 

BluSmart Charge operates India's largest EV Charging Infrastructure with 50 EV Charging Hubs spread across 2 million sq. ft. - bedrock for accelerating the EV adoption in India. ‘BluSmart Charge app’ was recently launched for public access offering seamless & reliable charging experience. The company has crossed an annual revenue run rate of $65 million (Rs 550 crore).