Private Equity

PE Fund Investments

EV cabs operator BluSmart raises $24-M

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Gurugram-based mobility startup BluSmart has raised USD 24 million (INR 200 crore) in a new equity round, which saw participation from existing investors, founders and the leadership team. BluSmart is backed by BP Ventures, Survam Partners, Mayfield India Fund, 9Unicorns, Green Frontier Capital, Stride Ventures, Alteria Capital, and BlackSoil, among others. The fresh capital will be used to build large-scale EV charging superhubs, enabling the expansion of its electric ride-hailing service. In May, the company had raised USD 42 million, of which 50% was subscribed by its leadership team. BluSmart has raised more than USD 133 million to date including USD 85 million in Series A round in multiple tranches. Founded in 2019 by Anmol Jaggi, Puneet Jaggi and Punit Goyal, BluSmart operates an all-electric, shared, and smart mobility platform, which includes ride-sharing, car-sharing, and scooter-sharing.