Indian electric vehicle ride-hailing platform BluSmart has raised $25 million in a Series A1 round, bringing its total Series A investment to date to just over $50 million. The company says this is one of the largest Series A fundraise in ride-hailing and smart mobility space globally.
The new round brings $15 million of equity capital and a venture debt of $10 million. The equity round was led by BP Ventures and Green Frontier Capital with participation from existing investors, while the venture debt round saw participation from Stride Ventures, Alteria Capital, BlackSoil and UCIC.
BluSmart plans to use the funding to scale up its all-electric ride-hailing fleet to over 5,000 EVs and expand its network of EV Superhubs across the Delhi area.
Co-founder and CEO Anmol Jaggi said, “BluSmart is creating inclusive and equitable economic opportunities for driver partners who can drive and earn without the hassles of asset ownership.”