BluSmart Mobility, an EV ride-hailing service and EV charging superhub infrastructure operator is raising Rs 200 crore (approximately $24 million) in a pre-Series B round.
The board at BluSmart has passed a special resolution to issue 10,92,890 pre-series B preference shares at an issue price of Rs 1,840 each to raise Rs 200 crore.
While the company did not disclose the name of investors participating in the latest financing, it is backed by BP Ventures, Survam Partners, Mayfield India Fund, 9Unicorns (now 100Unicorns), JITO Angel Network, Green Frontier Capital, Stride Ventures, Alteria Capital, and BlackSoil, among others.
Inc42 reported the development first.
BluSmart claims to operate more than 4,400 EV chargers spread across 36 EV charging superhubs. The firm also reached a milestone of adding 7,000 electric vehicles (EVs) to its fleet.
Founded in 2019 by Anmol and Puneet Jaggi along with Punit Goyal, BluSmart takes on the duopoly of Ola Cabs and Uber which follow an on-demand model. Unlike Ola, Uber and Rapido, it offers scheduled pick-ups and drops and has a pure-play electric fleet.
BluSmart is also entering the Dubai market and is ready for an official launch in the first week of June.
Goyal recently said that BluSmart recorded Rs 390 crore in revenue in FY24 as compared to Rs 160 crore in FY23. However, it has yet to file audited financial statements for the past two fiscal years.
