BluSmart, India’s first all electric shared smart mobility platform, announced that it has raised pre-Series A funding of $7 million from multiple investors.
Investors that took part in the funding round are Inflection Point Ventures, Venture Catalysts, Survam Partners, Mumbai Angels, Chhatisgarh Investments Ltd, JITO Angels, LetsVenture Fund, and Kaplavriksh Fund.
BluSmart said in a statement that it will utilise the funding to expand the number of cars on the platform, set up more charging infrastructure, improve its technology, and expand the geographical reach.
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 highest amongst all ride-sharing platforms and thus, transforming India’s mega-cities by providing convenient, sustainable and affordable mobility with great benefits for consumers, businesses and society at large.”
Started in 2019 by Anmol Singh Jaggi and Punit Goyal, BluSmart is building a comprehensive and holistic smart electric on-demand mobility platform covering the entire value chain of smart mobility, smart charging and smart parking. Blu Smart’s sustainable urban mobility solutions and services are Blu Smart Shofr, Blu Smart Drive, Blu Smart Ride, Blu Smart Charge and Blu Smart Assure.
Earlier in 2019, BluSmart had raised $3 million in seed round. The Company has plans to add thousands of electric cars and hundreds of charging stations on its all electric ride-sharing platform in 2021.
Apoorv Ranjan Sharma, President and Co-Founder, Venture Catalysts said, “We are optimistic that our investment will help the startup embark on its next phase of growth and change the dynamics of EV infrastructure in the country. Also, our association with BluSmart is one step ahead with the government of India, which is currently looking to promote electric mobility as one of the key solutions to reduce carbon emission.”
BluSmart has completed trips totalling more than 5,000,000 km with 200,000 rides, and claims to have saved carbon emission of about 375,000 kg.
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