The domestic Electric Vehicle (EV) startup BluSmart said on Monday that it has completed its pre-series B funding round, raising $24 million, or roughly Rs 200 crore.
BluSmart will be able to develop assets and charging infrastructure in important cities with the support of the additional investment.
Punit Goyal, co-founder of BluSmart, stated, “The latest $24 million fundraise is an important step in our journey to scale the eMobility fleet and EV charging infrastructure.”
New investors, including responsAbility Investments AG, Sumant Sinha, MS Dhoni Family Office, and BluSmart founders, participated in the fundraise.
The number of BluSmart EVs in the Delhi-NCR and Bengaluru fleet has increased by over 110 times, from 70 in January 2019 to 7,500 now.
Since its launch, BluSmart has saved around 40 million kg of CO2 emissions, delivered over 16 million electric journeys, and reached a milestone of over half a billion electric kilometers.
According to Sameer Tirkar, Head of Climate Infrastructure Investments APAC at responsAbility Investments AG, “BluSmart has been able to lead the way in building from the ground up an entire EV ecosystem to disrupt the conventional modes of commute without compromising on reliability and convenience.”
There are presently 50 EV charging hubs run by BluSmart.
MS Dhoni Family Office stated that investing in BluSmart’s sustainable business strategy is about being a part of a movement that changes the future of mobility, not just about supporting a company.
