Ride-hailing platform BluSmart raises $25 million to add 5K electric cars

Electric taxi service BluSmart announced Tuesday that it has raised $25 million as part of its extended Series A1 round. In total, the startup has raised $50.7 million as part of its Series A round.

BluSmart said it EV ride-hailing platform aims to add 5,000 electric cars and scale up its EV Superhubs in the Delhi-NCR.

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

The startup raised $25 million in new financing in $15 million in equity and $10 million in risk debt.

The equity round was led by BP Ventures and Green Frontier Capital with the participation of existing investors.

The venture capital funding comes from Stride Ventures, Alteria Capital, BlackSoil and UCIC.

BluSmart has raised $75 million in EV asset financing to date, backed by global development finance institutions.

BluSmart has recently added long-haul EVs and has started its all-electric intercity service for its customers to travel from Delhi-NCR to Jaipur and Chandigarh.

It continues to expand its service at Delhi airport and is now present in all domestic and international terminals.


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