The recent investment round will enable BluSmart to broaden its operations and develop actual electric vehicle charging infrastructure and assets in India’s major cities.
BluSmart, a comprehensive electric vehicle (EV) ride-hailing and charging infrastructure service, has secured $24 million (approximately Rs 200 crore) in its Pre-Series B funding round. This round of funding featured contributions from new investors such as responsAbility Investments AG and Sumant Sinha, alongside the MS Dhoni Family Office and previous backers, including the founders of BluSmart.
The funds from this round will be utilized to enhance BluSmart’s operational capabilities and to construct EV charging infrastructure and assets across India’s major urban centres.
Since its inception, BluSmart’s EV fleet has grown exponentially, from 70 vehicles in January 2019 to 7,500 vehicles currently operating in Delhi NCR and Bangalore. The company proudly announces that it has surpassed the significant landmark of 500+ million electric kilometres and has facilitated over 16 million electric trips. These efforts have contributed to a substantial reduction in carbon emissions, nearly 40 million kilograms since the company’s launch, as stated in a press release.
BluSmart Charge manages the largest EV charging infrastructure in India, featuring 50 charging hubs that span over 2 million square feet. This infrastructure serves as a critical foundation for accelerating EV adoption throughout the nation. Additionally, the ‘BluSmart Charge app’ was recently introduced to the public to provide a seamless and dependable charging experience. BluSmart has also reported reaching an annual revenue run rate of $65 million (approximately Rs 550 crore).
