BluSmart Raises $25 million

Ride-hailing service powered by electricity BluSmart announced on Tuesday that it has raised $25 million in its extended Series A1 round. The startup has raised $50.7 million in total as part of its Series A round. BluSmart stated that its EV ride-hailing platform plans to add 5,000 electric vehicles and expand its EV Superhubs throughout the Delhi-NCR region.

"BluSmart has been able to scale 25 times since its launch. BluSmart is creating inclusive and equitable economic opportunities for driver partners who can drive and earn without the hassles of asset ownership," said Anmol Jaggi, Co-Founder and CEO.

The startup raised $25 million in new funding, with $15 million in equity and $10 million in venture debt. The equity round was led by BP Ventures and Green Frontier Capital, with existing investors participating. Stride Ventures, Alteria Capital, BlackSoil, and UCIC provided venture debt funding.

To date, BluSmart has raised $75 million in EV asset financing from global development financial institutions. BluSmart has recently added long-range EVs and launched an all-electric intercity service for customers travelling from Delhi-NCR to Jaipur and Chandigarh.