Homegrown EV firm BluSmart raises Rs 200 cr

New Delhi: Homegrown Electric Vehicle (EV) company BluSmart on Monday said it has raised $24 million (about Rs 200 crore) in its pre-series B round.

The new funding will help BluSmart expand its operations and build charging infrastructure and assets in key cities.

“The latest fundraise of $24 million is an important step in our journey to scale the eMobility fleet and EV charging infrastructure,” said Punit Goyal, Co-Founder, BluSmart.

The fundraise saw participation from new investors, including responsAbility Investments AG, Sumant Sinha, MS Dhoni Family Office, existing investors and BluSmart founders.

BluSmart EV fleet has scaled over 110 times from 70 EVs (January 2019) to 7,500 across Delhi-NCR and Bengaluru.

BluSmart said it has achieved a milestone of over half a billion electric km and delivered over 16 million electric trips, saving nearly 40 million kg of CO2 emissions since launch.

“BluSmart has been able to lead the way in building from the ground up an entire EV ecosystem to disrupt the conventional modes of commute without compromising on reliability and convenience,” said Sameer Tirkar, Head of Climate Infrastructure Investments APAC at responsAbility Investments AG.

BluSmart currently operates 50 EV charging hubs.

“Investing in BluSmart’s sustainable business model is not just about supporting a company; it's about being part of a movement that shapes the future of mobility,” said MS Dhoni Family Office.