New Delhi . Electric ride-hailing service BlueSmart on Tuesday announced that it has raised $25 million as part of its expanded Series A1 round. In total, the startup has raised $50.7 million as part of its Series A round.
BlueSmart said its EV ride-hailing platform aims to connect 5,000 electric cars and grow its EV superhub in Delhi-NCR.
Anmol Jaggi, Co-Founder and CEO, said, “BlueSmart has grown 25x since its launch. BlueSmart is creating inclusive and equal economic opportunities for driver partners who can drive without the hassle of property ownership and can earn.”
The startup has raised $25 million in new funding and $10 million in a venture debt of $15 million in equity.
The equity round was led by BP Ventures and Green Frontier Capital, with participation from existing investors.
Venture debt funding comes from Stride Ventures, Alteria Capital, Blacksoil and UCIC.
BlueSmart has so far raised $75 million in EV asset financing backed by global development financial institutions.
BlueSmart recently added long range EVs and launched its all electric intercity service for its customers to travel from Delhi-NCR to Jaipur and Chandigarh.
It continues to expand its service at Delhi Airport and now has a presence at all domestic and international terminals.
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Web Title-EV ride-hailing platform BluSmart raises $25 mn, to add 5,000 electric cars