New Delhi, August 17, 2019: Blu Smart Mobility, India’s first all electric mobility service has raised a $2.2mn angel round from multiple investors, with JITO Angel Network leading the round.
Apart from JITO Angel Network, other funds who participated in the Angel round included Hero Motocorp, MayField Fund and Centrum, Micromax and few individual investors among others.
Blu Smar is a mobility startup focused on electric vehicles. The startup that was launched as an all-electric cab service in collaboration with Mahindra and Mahindra, is reinventing mobility by aggregating the world’s most innovative mobility concepts under a single platform. Additional to cab services, its offerings now also include RideSharing, CarSharing, and SharedCharging.
The fund raised through angel investment will help the company expand its offerings and services beyond Delhi NCR where it is currently centered. The fuel cost of an electric taxi is Rs 1.25 a km as against diesel and petrol cost of Rs 6-6.6.5, though the upfront cost of electric car is more.
In June, the startup flagged off a fleet of 70 Mahindra e-Verito vehicles in Delhi NCR. The electric taxis can be booked on the Blue Smart Mobility app. It now plans to add 500 Mahindra e-Verito electric sedans by April 2020.
“Blu Smart mobility is a game-changing startup that has given clean mobility a major push in the country through its smart next-generation mobility platform. With E vehicles set to become the way we commute over the next few decades, Blu Smart’s services give a strong impetus to wider adoption of clean mobility in urban India. The start-up is working to build a holistic smart electric on-demand mobility platform covering the entire value chain of smart mobility, smart charging and smart parking. We are happy to contribute to the expansion of its services through this round of investment”, said Lead Investor from JITO Angel Network.
Corporate Comm India (CCI Newswire)
