Electric vehicle ride-hailing firm, BluSmart, has successfully raised $24 million (around ₹200.58 crore) in a pre-Series B funding round. The funding round saw significant contributions from MS Dhoni Family Office and Sumant Sinha, the CEO of ReNew Power.
What Happened: BluSmart disclosed on July 15 about the successful completion of its latest funding round, which raised $24 million. The round witnessed participation from new investors, including responsAbility Investments AG, Sumant Sinha, CEO of ReNew Power, and MS Dhoni family office, along with existing investors and BluSmart founders.
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The funds raised will be utilized to expand BluSmart’s operations and to construct real EV charging infrastructure and assets in India’s megacities, as stated by the company.
This funding comes four months after BluSmart announced that responsAbility Investments AG, a Switzerland-based asset manager, would invest up to $25 million (around ₹208 crore) in the firm. In December, BluSmart secured $24 million in an equity round and raised long-term and sustainable EV asset funds worth $200 million (around ₹1671 crore).
BluSmart, founded in December 2019, has so far raised $109 million (₹911 crore) across its seed and Series A rounds.
In February, BluSmart signed a power purchase agreement with the Tata Power subsidiary to source green power.
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