BluSmart aims for Rs 800 crore FY25 revenue, with BP Ventures support. Competing with Rapido, Namma Yatri, targeting Ebitda profitability by 2026. Founder Jaggi under investor scrutiny for Dubai connections.
BluSmart raises $25 million from Swiss-based ResponsAbility thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Indian EV ride-hailing platform BluSmart has raised $25 million from ResponsAbility to expand its EV charging infrastructure. The investment includes $20 million in debt and $5 million in equity funding. BluSmart currently operates 6,000 EV cabs and owns 4,000 EV chargers across Delhi-NCR and Bengaluru.
This is BluSmart s first move away from having no differential fares, which it has marketed as a unique selling proposition against larger competitors Uber and Ola.
The funding was in the form of a rights issue, and has not seen participation from new investors. The round also saw BluSmarts founders increasing their stake in the company.