Blusmart raises another $24Mn in fresh funding

- BluSmart has secured $24 million in its pre-Series B funding round from new investors, including responsAbility Investments AG, Sumant Sinha, and the MS Dhoni Family Office. - The funds will be used to expand BluSmart's operations and build EV charging infrastructure in India's megacities. - Existing investors and BluSmart founders also participated in the latest funding round. - This funding comes four months after responsAbility Investments AG announced a $25 million investment in BluSmart. - Founded in December 2019, BluSmart has raised $109 million across its seed and Series A rounds to date. Source: Moneycontrol

Honestly, I have never used a BluSmart. But my friends who have used it just don't stop going gaga over it. Do you guys think BluSmart will make it big and disrupt premium rides segment or will Uber eventually win here as well(as it did with Ola)?

BluSmart’s fundraising has stumbled well below its $250 million target. With investors backing off at the last moment and fresh funding looking difficult, it now seems an impossible task. Sauce- https://themorningcontext.com/internet/blusmart-has-big-plans-and-little-direction

- Axio, a digital lending firm backed by Lightrock, has secured $20 million in equity funding from the Amazon Smbhav Venture Fund. - The funds will be used to scale lending operations, expand checkout finance use cases, and offer more credit products. - Axio, formerly known as Capital Float, offers loans via its own books and co-lending partnerships, along with pay-later options and personal finance management. - The company has reached $1 billion in annualised disbursals, with 60% of customers from non-metros and a low NPA ratio of 2-3%. - Prior to this round, Axio had raised $137 million in equity and $671 million in debt, with Light Rock as the largest external shareholder. Source: [Moneycontrol](https://www.moneycontrol.com/technology/lightrock-backed-fintech-firm-axio-raises-20-million-from-amazon-smbhav-venture-fund-article-12805190.html)

- Centricity, a Gurugram-based wealth management platform, secured $20 million in seed funding led by Lightspeed, valuing the company at $125 million. - The funding round saw participation from Burman Family Office, Shantanu Agarwal, Paramark VC, and several family offices including MS Dhoni and NB Ventures. - The funds will be used to enhance Centricity's tech stack, boost its sales team, and expand operations across India, including new financial offerings like insurance and stock broking. - Founder Manu Awasthy highlighted the company's rapid growth, noting a valuation increase from $20 million to $125 million in just two years. - Centricity's business model includes a B2C arm for ultra-high-net-worth individuals and a B2B2C arm to empower financial intermediaries in smaller cities. Source: [Moneycontrol](https://www.moneycontrol.com/technology/wealth-management-platform-centricity-raises-20-mn-in-seed-round-led-by-lightspeed-article-12819976.html)

- Wealthtech firm Neo has secured Rs 400 crore in a funding round led by Japan’s MUFG Bank and New York-based Euclidean Capital LLC. - The funds will be used to expand Neo's wealth-management division and enhance sponsor support for its asset management business. - Neo's equity base now stands at Rs 1,000 crore, marking a significant milestone for the company. - India's wealth management market is projected to grow at a CAGR of 4.56% during 2025–2029, driven by new-age startups and rising affluent class. - Neo, launched in 2021, manages nearly Rs 35,000 crore in wealth management assets and is seeking an NBFC license to offer short-term loans. Source: [Moneycontrol](https://www.moneycontrol.com/technology/peak-xv-partners-backed-wealthtech-firm-neo-raises-rs-400-crore-led-by-mufg-euclidean-capital-article-12793512.html)