Wednesday, September 30

BluSmart Raises $7 Million in Its Pre-series A Round Funding

By: | September 7th, 2020

Mumbai, Sept. 07, 2020BluSmart, an all-electric ride-hailing platform has raised $7Mn / Rs. 51 Cr in funding from multiple investors including Inflection Point Ventures, Venture Catalysts, Survam Partners, Mumbai Angels, Chhatisgarh Investments Ltd., JITO Angels, Lets Venture Fund, and Kaplavriksh Fund. BluSmart will utilize the funding to expand the number of cars on the platform, set up more charging infrastructure, technology improvements and expand the geographical reach. BluSmart is also in discussions to raise venture debt. BluSmart had previously raised $3Mn in seed round in Sept 2019.

BluSmart is an all-electric, on-demand ride-hailing mobility platform led by serial entrepreneurs Anmol Singh Jaggi and Punit K Goyal. The founding team has been expanded with senior professionals, Tushar Garg who comes with deep experience in the mobility sector, Anirudh Arun leading the charge as COO, and Rishabh Sood as the CTO, both of whom had previously co-founded a venture in sports analytics and IoT.

Talking 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 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.”

“Electric mobility is the next big thing in India. BluSmart aims to improve the status of commuting and curbing the burden on environment caused due to transport running on fuel combustion. We are also looking at augmenting the EV uptake by expanding fast electric car charging infrastructure for an easy charging practice,” added Mr. Punit K Goyal, Co-founder, BluSmart Mobility.

The company offers reliable, affordable, safer, smarter, and sanitized electric cabs to consumers in Delhi NCR. Its USPs include Zero Surge Mobility, Zero-Emission Mobility, and Zero Ride Denials. Building an electric ecosystem with strategic partnerships across automotive, infrastructure, and energy companies, the start-up further plans to add thousands of electric cars and hundreds of charging stations on its all-electric ride-sharing platform in 2021. Recently, BluSmart launched BluSmart Hourly Rentals product – customers can travel anytime, anywhere, and everywhere in Delhi and Gurgaon with multiple stops.