BluSmart completes pre-series B funding round; secures $24 mn in investment

BluSmart announced the completion of Pre-Series B funding round securing $24 million (INR 200 Crores) in investment. The fundraise saw participation from new investors including responsAbility Investments AG (impact asset manager), Sumant Sinha (global leader in the Renewable Energy sector); MS Dhoni Family Office (Cricket icon and former Indian Captain); existing investors and BluSmart founders who all share the company’s vision of ‘Decarbonizing Mobility at Scale’. ⁠ The latest funding round will support BluSmart in expanding its operations and building real EV charging infrastructure & assets in the mega cities of India.

BluSmart EV Fleet has scaled over 110x from 70 EVs (Jan 2019) to 7,500 BluSmart EVs across Delhi NCR and Bangalore.

Punit Goyal, Co-Founder, BluSmart, said, “BluSmart is building an integrated energy-infrastructure, mobility and technology company to take the full advantage of the EV revolution. Our latest fundraise of $24 million is an important step in our journey to scale the eMobility fleet and EV Charging Infrastructure.”

Sameer Tirkar, Head of Climate Infrastructure Investments APAC at responsAbility Investments AG, said, “We are happy to continue our partnership with BluSmart through our second round of funding. BluSmart has been able to lead the way in building from the grounds up an entire EV ecosystem to disrupt the conventional modes of commute without compromising on reliability and convenience. We believe in their vision and capabilities in creating positive environmental and social impact by reducing carbon emissions in urban transportation.”

Sumant Sinha, founder of India’s leading decarbonisation solutions company, and an iconic global leader in the Renewable Energy sector, commented, “The future of mobility is electric, and eMobility is a crucial step in making the shift to cleaner, emissions-free transportation. India’s growing economy and favourable policies provide ample impetus to this transition. I am excited to partner with BluSmart in their growth journey.”

Cricket icon and former Indian Captain, Mahendra Singh Dhoni said, “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. In a world where innovation drives sustainable choices, I am excited to back BluSmart's pioneering efforts in reshaping urban transportation."