BluSmart, an EV ride-hailing startup, has raised $25 million in its Series A round led by BP Ventures. Mayfield India Fund, 9Unicorns and Survam Partners along with existing investors have also joined the round.
BP Ventures has led the round by putting $13 million in the current round. This is the first investment in an Indian startup by the US-based venture capital firm. It has invested almost $800 million in more than 60 companies across seven geographies.
According to BluSmart, the fresh capital will be used to expand its fleet of electric vehicles and charging stations from its home city of Delhi to five additional Indian cities in the upcoming two years.
