Indian EV Mobility Startup BluSmart Raises $24M for Charging Superhubs and Fleet Expansion

🚗 Funding News: BluSmart, the mobility startup, secures $24 million in a fresh equity round.

🌐 Utilization Plans: The funds will be utilized to build large-scale EV charging superhubs, fueling the expansion of their electric ride-hailing service.

🌱 Sustainable Mission: BluSmart aims for large-scale decarbonization of mobility, integrating energy infrastructure and technology into its business.

🌍 Geographical Expansion: The company plans to extend its zero ride denials, on-time service, and clean mobility promise to more locations.

📈 Impressive Stats: BluSmart manages one of the largest EV ecosystems in India and Southeast Asia with a fleet of over 5,500 EVs, achieving 100% YoY growth.

📊 Environmental Impact: Their technology has enabled 10 million electric trips, covering over 330 million electric kilometers, saving nearly 24,000 metric tonnes of CO2.

💸 Financial Milestones: BluSmart has crossed $50 million in annual revenue run-rate, with plans to scale its fleet to nearly 8,000 EVs by 2024.

⚡ Charging Infrastructure: Recognizing EV charging infrastructure as a bottleneck, BluSmart is building large EV charging superhubs in key locations.

🔒 Investor Confidence: Existing investors, founders, and leadership show strong support with over-subscription in the funding round, reflecting confidence in BluSmart’s mission.

🌟 Leadership Vision: CEO Anmol Singh Jaggi expresses gratitude for investor confidence and highlights the exceptional support from Development Financial Institutions.

💼 Previous Funding: BluSmart had previously secured $42 million in equity and debt funding in its Series A2 round, bringing the total Series A funding to $85 million.

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