BluSmart Mobility, an EV ride-hailing benefit and EV charging superhub infrastructure operator is raising Rs 425 crore (around $50 million) in its Arrangement B circular. The Gurugram-based company will have its second fundraise in the past six months.

BluSmart's board passed an extraordinary determination in November final year to issue 17,70,833 Arrangement B CCPS at an issue cost of Rs 2,400 each to raise Rs 425 crore or $50 million, its administrative recording sourced from the Registrar of Companies shows.

Rs 61 crore has already been secured by BluSmart from 26 individual investors, with the remaining amount expected to arrive soon. Concurring to the filings, existing speculators and new participants will likely contribute to this financing round.

The subsidizing was received just six months after the closure of its $24 million pre-Series B circular.  the company is expected to be valued at around Rs 3,050 crore (approximately $363 million) post-allotment.

Founded in 2019 by Anmol and Puneet Jaggi along with Punit Goyal, BluSmart takes after an on-demand show. Not at all like Ola, Uber, and Rapido, it offers planned pick-ups and drops and has a pure-play electric fleet.

The company formally grows its all-electric ride-hailing administrations to Mumbai this week which covers key regions such as Goregaon, Bandra, and the Bandra Kurla Complex (BKC), with plans for assist citywide expansion.

BluSmart's fleet of over 8,500 EVs, 5,800 charging stations, and 22 million rides have been boasted. It right now works in Delhi, the surrounding areas of the National Capital Region (NCR), and Bengaluru.

Goyal recently announced that Rs 390 crore in revenue was recorded by BluSmart in FY24, compared to Rs 160 crore in FY23. In any case, it has however to record reviewed money related statements for the past two fiscal years

source: entrackr.