BluSmart, an electric ride-hailing platform, is raising $50 million in its ongoing funding round, with a pre-money valuation of $335 million. As the company pushes forward with its ambitious plans, it has already secured half of its targeted funding, with strong participation expected from a variety of investors.
This round is seeing investments from a mix of BluSmart’s existing investors, promoters, high-net-worth individuals (HNIs), and venture capital funds. The company anticipates that the funding round will close by next month, marking a significant step towards scaling its operations and expanding its footprint across various regions. The funds raised will help bolster BluSmart’s position as a leader in the electric vehicle (EV) ride-hailing industry.
BluSmart reported a strong annual revenue rate of $95 million (₹815 crore) for the financial year 2025. This impressive growth reflects the increasing demand for sustainable transport solutions and solidifies the company’s position in the rapidly expanding EV sector.
BluSmart has recently made headlines by expanding its services to Mumbai, in addition to its existing presence in Delhi-NCR, Bengaluru, and the UAE. The initial phase of its Mumbai expansion will operate on an invite-only basis, gradually opening up to the public as the company scales its services.
BluSmart is also venturing into international markets, having launched its first overseas service in the UAE with a premium all-electric limousine in June 2024. This expansion into global markets is a key part of the company’s strategy to increase its reach and customer base, further cementing its position as an EV leader in the ride-hailing industry.
BluSmart’s innovative EV charging infrastructure is a critical element of its success. The company operates over 5,800 charging stations across 50 hubs in Bengaluru and Delhi NCR, covering over two million square feet. These hubs are supported by a network of more than 10,000 active driver partners, helping ensure that its fleet of electric vehicles remains well-charged and operational at all times.
Since its inception in 2019, BluSmart has rapidly established itself as South Asia's first and largest all-electric ride-hailing service and EV charging infrastructure network. The company boasts a fleet of over 8,500 sedans and premium BluSmart EVs, and has successfully completed over 21 million rides. With a total distance of 680 million clean kilometers traveled, BluSmart continues to make significant strides in reducing carbon emissions and providing a cleaner, more sustainable transport alternative.
BluSmart’s innovative approach to transportation and commitment to sustainability places it in a strong position to lead the electric ride-hailing revolution in South Asia. The company’s continued focus on expanding its EV fleet, charging infrastructure, and geographical reach will likely contribute to significant growth in the coming years.
The $50 million funding round, combined with the robust revenue performance and strategic expansion efforts, will support BluSmart’s mission to reshape the ride-hailing landscape and accelerate the transition to electric vehicles.
Conclusion
BluSmart’s ongoing funding round, coupled with its expansion plans and strong revenue growth, highlights the company’s potential as a leader in the electric vehicle ride-hailing market. With backing from diverse investors, a comprehensive charging infrastructure, and a growing fleet of EVs, BluSmart is well-positioned to revolutionize urban mobility, reduce carbon emissions, and contribute to the global shift towards sustainable transportation solutions.