BluSmart has secured 24 million USD in its pre-Series B funding round, attracting new investors such as Switzerland-based asset manager responsAbility Investments AG, ReNew Power CEO Sumant Sinha, and the family office of MS Dhoni. The electric ride-hailing company announced this news on July 15, also noting participation from existing investors and its founders.

The recent funding round will help BluSmart expand its operations and develop a robust EV charging infrastructure and assets in India’s major cities, the company stated.

The funding follows an announcement made four months ago that Switzerland-based asset manager responsAbility Investments AG would invest up to USD 25 million (around Rs 208 crore) in the company.

During December, the company obtained USD 24 million in equity funding and also raised USD 200 million in long-term, sustainable funds for electric vehicle assets, with support from top financial development institutions.

Anmol Jaggi, Punit K Goyal, and Puneet Singh Jaggi established the electric vehicle company in December 2019, aiming to introduce a more environmentally friendly ride-sharing choice to India's large market.

The company has accumulated USD 109 million from its seed and Series A fundraising efforts so far.

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