PE Fund Investments
EV cabs operator BluSmart raising $25-M in pre-Series B at $250-M valuation
Gurugram-based BluSmart Mobility , an electric cabs operator and electric vehicle (EV) charging superhub infrastructure provider, is raising INR 200 crore (about USD 25 million) in a pre-Series B round at a valuation of USD 250 million.BluSmart will issue 10,92,890 pre-series B preference shares at INR 1,840 each. The pre-Series B round investment closes in the fourth week of June.BluSmart raised USD 25 million in a mix of debt and equity in January this year from Zurich-based climate finance firm ResponsAbility. The firm is backed by BP Ventures, Survam Partners, Mayfield India Fund, 100 Unicorns, JITO Angel Network, Green Frontier Capital, Stride Ventures, Alteria Capital and BlackSoil.BluSmart claims to operate more than 4,400 EV chargers spread across 36 EV charging superhubs. The firm also claims to have added 7,000 EVs to its fleet.The company has posted more than INR 390 crore in revenue in fiscal 2024, compared with about INR 160 crore in FY23.
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