On Tuesday, BluSmart is the electric stack ride-hailing service; an EV has announced to close a Series A1 round raising $25 million. In September 2021, the follow-up series A round was completed and brought the total of its Series A investment to a significant $50.7 million.

The company has raised $25 million in the Series A1 round comprising $15 million in equity capital and venture debt of $10 million. The equity round was led by BP Ventures and Green Frontier Capital, with participation from existing investors. This funding contributed by Stride Ventures, Alteria Capital, BlackSoil and UCIC.

• NTPC Green Energy Shares Surge 5% as Arm Secures Mega Project 
• Stocks in Focus: Reliance Power, NTPC Green Energy, HG Infra Engineering, and Others
• Stocks Under F&O Ban: Granules India, Metropolis Healthcare, PVR Inox, and Others
• One Mobikwik Systems Ltd IPO GMP, Lot Size, Key Dates & Finances
• Government Imposed Barrier to Reduces Imports of Solar Cells 

Around the globe, it is one of the largest Series A fundraised in ride-hailing and smart mobility space. This fund can be used to increase the all-electric ride-hailing fleet to over 5,000 BluSmart EVs and expand its network of EV Superhubs covered under Delhi NCR. Additionally, BluSmart is secured EV financing of $35.7 million backed by IREDA (BluSmart has raised $75 million in EV asset financing backed by global development financial institutions – India’s largest till date).