EV ride-hailing firm BluSmart raises USD 24 million

EV ride-hailing services and charging infrastructure network operator BluSmart on Monday said it has raised USD 24 million (Rs 200 crore) capital in a funding round.

The pre-Series B funding round saw participation from existing investors like responsAbility Investments AG as well as new investors such as Sumant Sinha, Chairman and CEO of ReNew, and MS Dhoni Family Office.

The funds will support BluSmart in expanding its operations and building EV charging infrastructure and assets in mega Indian cities, the company said.

"Our latest fundraise of USD 24 million is an important step in our journey to scale the e-mobility fleet and EV charging infrastructure," BluSmart co-founder Punit Goyal said.

The company is building an integrated energy-infrastructure, mobility and technology company to take full advantage of the EV revolution, he added.

"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," Dhoni, veteran cricketer, said.