The electric ride-hailing company BluSmart announced that it had raised USD7 million (INR 51 crore) in funding from multiple investors.
The list of investors includes Inflection Point Ventures, Venture Catalyst, Survam Partners, Mumbai Angels, Chhatisgarh Investments, JITO Angels, Lets Venture Fund and Kaplavriksh Fund.
The company said it would utilise the funding to expand the number of cars on the platform, set up more charging infrastructure, improve technology and to stretch the geographical reach.BluSmart had earlier raised USD 3 million in a seed round in September 2019. It is also in discussion to raise venture debt.
About the freshly-raised capital, Anmol Singh Jaggi, co-founder, BluSmart Mobility, said, “We aim at bringing in a new narrative in the EV mobility space by giving the highest quality service as evidenced by our app rating, which is the highest among all ride-sharing platforms. Thus we will help transform India’s mega cities by providing convenient, sustainable and affordable mobility with great benefits for consumers, businesses and society at large.”
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