BluSmart Seeks to Raise $100M for EV Ride-Hailing Expansion

• EV ride-hailing startup BluSmart is in talks to raise $80-100 million from private equity funds, climate-focused investors, and family offices.
• The funds will be used to expand the ride-hailing business and its EV charging infrastructure, allowing the company to grow its fleet and reach new cities.
• BluSmart, which operates in Delhi NCR, Bengaluru, and Dubai, has a fleet of over 7,600 EVs and a network of over 3,900 charging stations.
• The company, founded in 2019, follows an asset-light business model, procuring cars on a monthly lease from companies like EESL.
• This fundraising effort follows a $24-million fundraise led by responsAbility Investments, MS Dhoni's family office, and ReNew Power founder Sumant Sinha.

Source: Moneycontrol