EV ride-hailing startup BluSmart in talks to raise up to $100 million

Ride-hailing platform BluSmart Mobility, which has an all-electric taxi fleet, has opened talks with private equity funds, climate-focused investors and family offices to raise $80 million to $100 million, sources have told Moneycontrol.

BluSmart will use the fund for the ride-hailing business as well as its EV charging infrastructure. The funds will help the company expand its fleet and take operations to new cities, the sources said.

Responding to Moneycontrol’s query, a BluSmart spokesperson said the company is committed to revolutionising urban mobility and is constantly exploring avenues for growth and expansion, which includes evaluating both debt and equity options.

“We are fortunate to have strong support from our existing investors and are seeing significant interest from them and new investors as well. Any announcement regarding our fundraising will be made through official channels at the appropriate time,” the spokesperson said in an emailed statement.