BluSmart, India’s leading EV ride-hailing service, has successfully raised $24 million in a pre-Series B funding round. This significant investment will support the company’s ambitious expansion plans, focusing on enhancing its operational capacity and developing EV charging infrastructure across major Indian cities.
The funding round attracted several new investors, including responsAbility Investments, Sumant Sinha, and the MS Dhoni Family Office, along with contributions from existing investors and BluSmart’s founders. The company intends to leverage the funds to build a robust integrated energy-infrastructure, mobility, and technology platform to capitalize on the growing EV revolution.
“BluSmart is building an integrated energy-infrastructure, mobility, and technology company to take the full advantage of the EV revolution. Our latest fundraise of $24 million is an important step in our journey to scale the eMobility fleet and EV Charging Infrastructure,” said Punit Goyal, Co-founder of BluSmart.
Founded in 2019 by Punit Goyal and Anmol Jaggi, BluSmart currently operates in Delhi NCR and Bengaluru, with its first international launch in Dubai in June this year. The company has grown its EV fleet from a modest 70 vehicles in January 2019 to an impressive 7,500 vehicles across its operating cities. This growth trajectory has enabled BluSmart to achieve an annual revenue run-rate exceeding Rs 550 crores.
Former Indian Cricket captain Mahendra Singh Dhoni, an investor in BluSmart, expressed his enthusiasm for the company’s mission. “Investing in BluSmart’s sustainable business model is not just about supporting a company; it’s about being part of a movement that shapes the future of mobility. In a world where innovation drives sustainable choices, I am excited to back BluSmart’s pioneering efforts in reshaping urban transportation,” Dhoni said.