EV startup BluSmart has raised $25 Mn in its Series A round led by bp ventures. The round also saw participation from 9Unicorns, Mayfield India Fund and Suvan Partners along with existing investors.

BluSmart will use the capital to extend its fleet of electric vehicles and charging stations from Delhi to five other cities in the coming two years. Sophia Nadur, the managing partner of bp ventures will join BluSmart’s board of directors as part of the investment. bp ventures will be investing $13 Mn in the startup.

The startup was founded by Anmol Singh Jaggi and Punit K Goyal in 2019 and started its operations as an electric ride-hailing business. Last year, the startup expanded its services to include EV car subscriptions.

The startup has said that its app has been downloaded more than 250K times. BluSmart said that its fleet of EV taxis have saved over 1,500 tonnes of carbon dioxide emissions and while completing 650K trips since its inception.

Earlier, the startup raised $17 Mn in multiple seed rounds. It last raised $ 7 Mn in 2020 from Inflection Point Ventures, Mumbai Angels and Venture catalysts among others.

BluSmart competes against Bengaluru-based Lithium Urban and Delhi-based eee-Taxi. Lithium Urban claims that its fleet of EV taxis have run 78 Cr Miles while saving 19447 MT of carbon dioxide emission.

Also US-based major cab-hailing company Uber has partnered with Startup India and iCreate on an innovation fund to support ideas that will increase the adoption of EVs across the country.

All over the world companies are trying to reduce carbon emissions as the earth’s temperature has been rising at an alarming rate.

This month, EV-based last-mile delivery startup Zypp Electric raised $7Mn in Series A round whereas Revos closed $4 Mn in fresh funding round. The EV industry has received closed $ 601 Mn in investment between 2014 and 2019.