[Funding alert] EV mobility startup Blu Smart raises $3M in funding from Deepika Padukone’s investment office and others

Blu Smart is planning to further scale its all-electric ride-sharing fleet to 500 cars by November 2019, across Delhi-NCR and Mumbai.

24th Sep 2019
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Electric vehicle mobility startup, Blu Smart on Tuesday said, it has raised an angel round of $3 million from KA Enterprises, the investment office of Deepika Padukone; JITO Angel Network; Kalpavriksh Trust (Centrum VC Fund); Survam Partners (family office of Hero Group’s Suman Kant Munjal), along with other prominent names.  


The angel investors who participated in this round included - Rajesh Agarwal, Co-founder, Micromax; Sanjiv Bajaj, MD, Bajaj Capital; Rajat Gupta, ex-Global MD McKinsey; Rohit Chanana, ex-President Strategy, Hero Corporate Services, among others.  


Deepika Padukone


Founded by Puneet Singh Jaggi, Anmol Singh Jaggi and Punit K Goyal, Blu Smart launched its operations early this year.


Blu Smart’s ride-sharing platform provides surge free and affordable pricing, premium all-electric sedans and SUVs, on-demand and intelligent mobility service, highly rated drivers, shorter wait time and zero cancellations from drivers.


Customers can seamlessly book the rides through the Blu Smart iOS and Android App or can simply call the booking number. 


Speaking on the traction of the business, Punit K Goyal, Co-founder, Blu Smart, said,


“Blu Smart is a new mobility player providing sustainable urban mobility for customers. Blu Smart has served over 20,000 customers since its launch in just three months in the Delhi-NCR region and aims to serve more than one million customers in the coming months” 

Currently, the company claims to have scaled its ride-sharing fleet to 200 electric cars across Delhi-NCR. Blu Smart is planning to further scale its all-electric ride-sharing fleet to 500 cars by November 2019, across Delhi-NCR and Mumbai.


“Blu Smart is helping in reduce traffic volumes and pollution to make cities ­– healthier and more livable­ – with its zero-emission smart urban mobility service. We are transforming cities by providing convenient, sustainable and affordable mobility with great benefits for consumers, businesses and society,” Anmol Singh Jaggi, Co-founder, Blu Smart added.

Building an electric ecosystem with strategic partnerships across automotive, infrastructure and energy companies, the startup further plans to add 15,000 electric cars, 2,500 chargers on its all electric ride-sharing platform by 2021.

 

While Blu Smart is setting up DC fast charging stations at Blu Smart Hubs, several public and private companies are setting up on–boarding charging stations.


With this funding, through 2019, Blu Smart Charge network will add 100 smart charging stations across all technologies, which includes Bharat Charge, CCS and CHAdeMO.


As a part of its growth plan, the EV mobility startup is also in discussions to raise a $25 million Series A round by early 2020, as it plans to scale its operations in full stack across Delhi-NCR, Mumbai, Pune and Hyderabad.


(Edited by Suman Singh)



 


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