BluSmart, an All-electric ride-hailing platform, has announced raising a pre-series A round funding of Rs 51 crore. The company said the funds will be used to expand the number of cars on the platform, set up charging infrastructure, improve technology, and expand geographic reach. A year ago in September 2019, the company raised over Rs 22 crore in seed funding, and now after the latest investment BluSmart is also in talks to increase project debt. BluSmart says the new round of funding comes from various investors, including Inflection Point Ventures, Venture Catalyst, Survam Partners, Mumbai Angels, and Chhatisgarh Investments Ltd. JITO Angels, Lets Venture Fund, and Kaplavriksh Fund.
Commenting on the recent development, Puneet K Goyal, Co-founder of BluSmart Mobility, said: “Electric mobility is the next big thing in India. BluSmart aims to improve mobility and curb the environmental burden caused by combustion-powered transportation. We are also looking to increase EV adoption by expanding the infrastructure to rapidly charge EVs for easy charging practice. ”
Investor Mitch Shah, the co-founder of Inflection Point Ventures, said: “IPV, with its vast Investor base of CXO investors from various industries, including EV, automotive and BFSI, will help BluSmart grow its fleet economically and expand its network in a way that means “. On the other hand, another investor, Apoorv Ranjan Sharma, president and co-founder of Venture Catalyst, said: “We are optimistic that our investment will help the startup to embark on its next phase of growth and change the dynamics of the electric vehicle infrastructure of the country. Additionally, our relationship with BluSmart is a stepping stone. Go ahead with the Government of India, which is currently seeking to promote electric mobility as one of the key solutions to reduce carbon emissions. ”
BluSmart is the country’s first all-electric on-demand mobility platform and currently only operates in Delhi-NCR. The company has recently expanded its cab service withing Delhi city, which was previously limited to Gurugram. BluSmart claims to offer affordable, safer, smarter, and sterile electric taxis to its customers, on the basis that USP is the provider of zero-emission mobility solutions. Recently it also launched BluSmart Hourly Rentals – Customers can travel anytime, anywhere, and everywhere in Delhi and Gurgaon with multiple stops.
BluSmart currently has more than 350 all-electric taxis in the Delhi-NCR region and plans to add thousands of electric cars and hundreds of charging stations to its all-electric rideshare platform in 2021. Since its inception, the company has completed over 50 lakh zero-emission kilometers with more than 2 lakh rides. BluSmart says that so fat, it had helped save over 3.75 lakh Kg of CO2 emission.
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