Electric mobility startup BluSmart Mobility raised $42 million from BP Ventures

Share via:

Electric mobility startup BluSmart Mobility raised $42 million from existing investor BP Ventures, which holds a 20% equity in BluSmart. Almost 50% of the round was subscribed by the BluSmart founders and leadership team.

Founded in 2019, the electric mobility firm provides EV ride-hailing services as well as charging infrastructure in Delhi NCR, Bengaluru, and other Indian megacities. So far, the company claims to have completed over 5.3 million rides, covering 180 million zero-carbon kilometres.

The electric mobility firm intends to use the new capital to expand its operations in India’s megacities, increasing its fleet from 3,500 to 10,000 EVs by FY24.

According to Anmol Singh Jaggi, cofounder and CEO of BluSmart, the path to electrification is fraught with difficulties. “BluSmart addresses these challenges with a full-stack approach that includes a born electric tech stack, complete control over EV charging infrastructure, and selecting locations to build large scale EV charging infrastructure, optimising the EV ride-hailing fleet at scale,” Jaggi added.

The electric mobility category in India has grown to include vehicle manufacturers, battery makers, ride-hailing services, and charging infrastructure suppliers.

BluSmart thus competes with Ola and Uber, which have lately begun giving EV rides to their passengers. BOLT, Ather Energy, Cell Propulsion, CHARGE+ZONE, Chargeup, and other startups compete with it.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Electric mobility startup BluSmart Mobility raised $42 million from BP Ventures

Electric mobility startup BluSmart Mobility raised $42 million from existing investor BP Ventures, which holds a 20% equity in BluSmart. Almost 50% of the round was subscribed by the BluSmart founders and leadership team.

Founded in 2019, the electric mobility firm provides EV ride-hailing services as well as charging infrastructure in Delhi NCR, Bengaluru, and other Indian megacities. So far, the company claims to have completed over 5.3 million rides, covering 180 million zero-carbon kilometres.

The electric mobility firm intends to use the new capital to expand its operations in India’s megacities, increasing its fleet from 3,500 to 10,000 EVs by FY24.

According to Anmol Singh Jaggi, cofounder and CEO of BluSmart, the path to electrification is fraught with difficulties. “BluSmart addresses these challenges with a full-stack approach that includes a born electric tech stack, complete control over EV charging infrastructure, and selecting locations to build large scale EV charging infrastructure, optimising the EV ride-hailing fleet at scale,” Jaggi added.

The electric mobility category in India has grown to include vehicle manufacturers, battery makers, ride-hailing services, and charging infrastructure suppliers.

BluSmart thus competes with Ola and Uber, which have lately begun giving EV rides to their passengers. BOLT, Ather Energy, Cell Propulsion, CHARGE+ZONE, Chargeup, and other startups compete with it.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Shiprocket Selected For Ecommerce Export Hub Pilot

SUMMARY Besides Shiprocket, the Centre has selected air cargo...

Threads has grown by 15 million users this month

Bluesky might be on the rise, but Instagram...

Tether introduces 'Hadron' real-world asset tokenization platform

The Tether-US dollar stablecoin's market capitalization has topped...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!