Sustainable Ride hailing BluSmart secures Rs. 200 crore in Pre-Series B round
The EV ride hailing app, BluSmart Mobility and EV charging infrastructure superhub infrastructure operator has recently raised in their Rs. 200 crore or approximately $24 million in a pre-Series B round.
The regulatory filing accessed from the Registrar of Companies showed that, the managerial board at BluSmart has passed a special resolution in order to issue 10,92,890 pre-series B preference shares at an issue price of Rs. 1,840 each to raise Rs. 200 crore.
The company claims that they have operated 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.
The company has not revealed the identities of the investors involved in the recent funding round, but it has the support of BP Ventures, Survam Partners, Mayfield India Fund, 9Unicorns (now 100Unicorns), JITO Angel Network, Green Frontier Capital, Stride Ventures, Alteria Capital, and BlackSoil, among others.
Till date, the company has raised $42 million from existing backers of which 50% was subscribed by its leadership team in May last year. The first round was followed by an additional $24 million raised in December and another $25 million in January this year.
The startup was founded by Anmol and Puneet Jaggi along with Punit Goyal. BluSmart followed the duopoly of Ola Cabs and Uber and operating on-demand model. Unlike, other ride hailing apps, Ola, Uber and Rapido, BluSmart offers scheduled pick-up and drops and has a pure-play electric fleet.
BluSmart is expanding its footprints in Dubai Market and it is planning for its official launch in the first week of June.
Punit Goyal informed that, BluSmart recorded Rs. 390 crore in revenue in FY24 as compared to Rs 160 crore in FY23. However, it is yet to file audited financial statements for the past two fiscal years.
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The regulatory filing accessed from the Registrar of Companies showed that, the managerial board at BluSmart has passed a special resolution in order to issue 10,92,890 pre-series B preference shares at an issue price of Rs. 1,840 each to raise Rs. 200 crore.
The company claims that they have operated 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.
The company has not revealed the identities of the investors involved in the recent funding round, but it has the support of BP Ventures, Survam Partners, Mayfield India Fund, 9Unicorns (now 100Unicorns), JITO Angel Network, Green Frontier Capital, Stride Ventures, Alteria Capital, and BlackSoil, among others.
Till date, the company has raised $42 million from existing backers of which 50% was subscribed by its leadership team in May last year. The first round was followed by an additional $24 million raised in December and another $25 million in January this year.
The startup was founded by Anmol and Puneet Jaggi along with Punit Goyal. BluSmart followed the duopoly of Ola Cabs and Uber and operating on-demand model. Unlike, other ride hailing apps, Ola, Uber and Rapido, BluSmart offers scheduled pick-up and drops and has a pure-play electric fleet.
BluSmart is expanding its footprints in Dubai Market and it is planning for its official launch in the first week of June.
Punit Goyal informed that, BluSmart recorded Rs. 390 crore in revenue in FY24 as compared to Rs 160 crore in FY23. However, it is yet to file audited financial statements for the past two fiscal years.
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