BluSmartsecured INR 200 crore (approximately USD 24 million) in a pre-series B funding round in July. This funding round saw contributions from new investors, including Zurich-based responsAbility Investments, the family office of MS Dhoni, and Sumant Sinha, the founder-CEO of the Nasdaq-listed company ReNew.
The electric ride-sharing company BluSmart is potentially engaging in discussions with JSW MG concerning various collaborative opportunities. Industry insiders have indicated that BluSmart has engaged in several conversations with JSW MG about the potential use of JSW MG’s vehicles within BluSmart’s fleet.
Furthermore, there are ongoing discussions about the possibility of JSW MG acquiring a minor equity share in BluSmart Mobility. When inquiries were made, both companies provided a uniform response, stating they did not comment on market rumours and declaring the information referenced as inaccurate.
BluSmart, recognised as India’s most comprehensive electric vehicle (EV) ride-hailing service, secured INR 200 crore (approximately USD 24 million) in a pre-Series B financing round in July, which saw contributions from new investors including Zurich-based responsAbility Investments, MS Dhoni’s Family Office, and Sumant Sinha, the founder-CEO of the Nasdaq-listed ReNew.
Additionally, the company announced that it has obtained long-term EV asset financing amounting to USD 200 million to date. In May 2022, BluSmart raised nearly USD 51 million through two rounds of Series A funding.
BluSmart has a network of nearly 10,000 drivers and operates over 7,500 electric vehicles across India. The company also manages 4,000 EV chargers spread across 35 charging hubs throughout the country.
Through its parent company, Gensol Engineering, BluSmart has placed bulk orders for electric vehicles from both Tata Motors and MG. Earlier this year, the company also entered into a multi-year power purchase agreement with Tata Power.
