BluSmart, a leading player in the electric mobility space, announced the successful completion of its Pre-Series B funding round, raising $24 million (INR 200 Crores). The investment round saw participation from new and existing investors, supporting BluSmart’s mission to decarbonize mobility at scale.
New and Existing Investors
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New Investors:
- ResponsAbility Investments AG: A prominent impact asset manager.
- Sumant Sinha: A global leader in the Renewable Energy sector.
- MS Dhoni Family Office: Representing cricket icon and former Indian Captain, MS Dhoni.
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Existing Investors and Founders:
- Continued support from current investors and BluSmart founders.
Purpose of Funding
The newly acquired funds will be utilized to expand BluSmart's operations and develop comprehensive EV charging infrastructure in major Indian cities.
Expansion and Growth
- BluSmart EV fleet has experienced substantial growth, scaling from 70 EVs in January 2019 to 7,500 EVs across Delhi NCR and Bangalore.
Statements from Key Stakeholders
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Punit Goyal, Co-Founder, BluSmart:
- “BluSmart is building an integrated energy-infrastructure, mobility, and technology company to take 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.”
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Sameer Tirkar, Head of Climate Infrastructure Investments APAC, Responsibility Investments AG:
- “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 conventional modes of commute without compromising on reliability and convenience. We believe in their vision and capabilities in creating a positive environmental and social impact by reducing carbon emissions in urban transportation.”
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Sumant Sinha, Founder, Leading Decarbonisation Solutions Company:
- “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 favorable policies provide ample impetus to this transition. I am excited to partner with BluSmart in their growth journey.”
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MS Dhoni, Cricket Icon and Former Indian Captain:
- “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.”
Conclusion
The successful funding round marks a significant milestone for BluSmart, reinforcing its commitment to building a robust EV ecosystem and advancing sustainable urban mobility solutions in India.
