New Delhi: BluSmart, India and South Asia’s premier electric vehicle (EV) ride-hailing service on Monday announced securing $24 million in a Pre-Series B funding round to further expand its operations and enhance its EV charging infrastructure across major Indian cities.
The investment round attracted notable new investors including responsAbility Investments AG, a leader in impact asset management, and Sumant Sinha, renowned for his contributions to the renewable energy sector. The MS Dhoni Family Office also participated, reflecting the cricket icon’s commitment to sustainable transport solutions.
BluSmart has experienced exponential growth since its inception, scaling its fleet from 70 EVs in January 2019 to 7,500 across Delhi NCR and Bangalore. The company has logged over 500 million electric kilometers, conducted more than 16 million electric trips, and saved nearly 40 million kilograms of CO2 emissions to date.
Punit Goyal, Co-Founder, BluSmart said, “Our latest fundraise of $24 million is an important step in our journey to scale the eMobility fleet and EV Charging Infrastructure.” The company aims to leverage the fresh capital to build substantial real EV charging assets and expand its footprint in India’s urban centers.
BluSmart’s growth is also reflected in its customer service achievements, boasting over 4 million app downloads and maintaining a 4.9/5 rating on both iOS and Android platforms, making it India’s highest-rated RideHailing service.
Sameer Tirkar, Head of Climate Infrastructure Investments APAC at responsAbility Investments AG, said, “BluSmart has been able to lead the way in building from the grounds up an entire EV ecosystem to disrupt the conventional modes of commute without compromising on reliability and convenience.”
Sumant Sinha, founder of India’s leading decarbonisation solutions company, and an iconic global leader in the Renewable Energy sector, commented, “The future of mobility is electric, and eMobility is a crucial step in making the shift to cleaner, emissions-free transportation. India’s growing economy and favourable policies provide ample impetus to this transition.”
Expressing excitement about investing in BluSmart, Cricket icon and former Indian Captain, Mahendra Singh Dhoni (MS Dhoni Family Office), said, “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.”
BluSmart is not only expanding its fleet but also operates India’s largest EV Charging Infrastructure, featuring 50 EV Charging Hubs over 2 million sq. ft. The recently launched ‘BluSmart Charge app’ offers public access to these hubs, promising a seamless and reliable charging experience.
The company has also secured long-term and sustainable EV asset financing of $200 million backed by leading Development Financial Institutions (DFIs), underpinning its commitment to a 100% emission-free future in line with India’s clean transport ambitions.
