Business

BP leads $25 mn funding round in EV ride-hailing start-up BluSmart

BP Ventures has made its first direct investment in India by pumping in USD 13 million in integrated EV ride-hailing and charging company BluSmart.
It led a USD 25 million Series A round that also saw support from Mayfield India Fund, 9Unicorns and Survam Partners, alongside other existing investors, the firm said in a statement.
“BluSmart will use the capital to expand its fleet of electric vehicles and charging stations from its home city of Delhi to five additional Indian cities in the next two years,” it said.
The statement, however, did not say the funding will translate into how much equity holding in BluSmart.
Sophia Nadur, managing partner at BP Ventures, will join BluSmart’s board.
To date, BP Ventures has invested almost USD 800 million in more than 60 companies across seven geographies.
BP Ventures was set up more than 10 years ago to identify and invest in private, high growth, game-changing technology companies, accelerating innovation across the entire energy …