/BluSmart Mobility raises Rs 51.4 crore from Inflection Point Ventures, others

BluSmart Mobility raises Rs 51.4 crore from Inflection Point Ventures, others

MUMBAI: Raid-hailing platform BluSmart Mobility raised $ 7 million (Rs 51.4 crore) in pre-series A round of equity funding from several investors including Inflection Point Ventures, the company said on Monday.

The all-electric mobility platform will use the funds to increase the number of cars on board, set up more charging infrastructure, technology improvements and in expanding its geographical reach. Presently, the company has operations in the National Capital Region.

The company was also in discussions to raise venture debt, according to a press note. BluSmart had previously raised $ 3 million in seed round funding in September 2019, including investment KA Enterprises, which manages actress Deepika Padukone‘s family office.

Investors in the latest round include Inflection Point Ventures, Venture Catalysts, Survam Partners, Mumbai Angels, Chhatisgarh Investments Ltd., JITO Angels, Lets Venture Fund and Kaplavriksh Fund.

“Electric mobility is the next big thing in India. BluSmart aims to improve the status of commuting and curbing the burden on the environment caused due to transport running on fuel combustion. We are also looking at augmenting the EV uptake by expanding fast electric car charging infrastructure for an easy charging practice,” said Punit Goyal, co-founder, BluSmart Mobility.

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Small Biz-Economic Times