In a new funding round, electric ride-hailing startup BluSmart plans to raise $50 million. The pre-money valuation of the company is $335 million. Half of the $50 million sought has already been secured by BluSmart in the current funding round.

BluSmart, which was established in 2019, claims to be the first and biggest all-electric ride-hailing and EV charging infrastructure network in South Asia. Its fleet, which consists of more than 8,500 sedans and high-end BluSmart EVs, has already completed more than 21 million rides, clocking up 680 million clean kilometers.

A combination of current investors, promoters, high-net-worth individuals (HNIs), and a few recently established venture capital funds have contributed. By the following month, the company hopes to close the round.

For the fiscal year 2025, BluSmart reported a strong yearly revenue rate of $95 million (Rs. 815 crore).

The business had just declared its intention to expand into Mumbai. BluSmart is present in the UAE, Bengaluru, and Delhi-NCR. Before the services are made publicly available, they will first be accessible by invitation only. BluSmart introduced its first international service in the UAE in June 2024, along with a high-end all-electric limousine.

There are 5,800 charging stations in its EV infrastructure, which is dispersed among 50 hubs in Bengaluru and Delhi NCR. It is supported by a network of more than 10,000 active driver partners and spans an area of more than two million square feet overall.