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Blu Smart, which is an Electric Mobility service provider, has now secured USD 2.2 million from the multiple investors led by the Angel Network of JITO.
Investors who participated in the angel round which includes the Micromax, MayField Fund, Centrum, Hero MotoCorp, and some other high net worth individuals, according to the report.
The funds will be going to be used to help the company expand its offerings and services beyond the Delhi-NCR region where is currently centered, said the announcement.
The Gurgaon headquartered startup was revealed as an all-electric cab service in participation with the Mahindra and Mahindra in the month of June this year. Additionally, to cab service, it’s offering now also includes the cab sharing, ride-sharing, and shared charging.
The company had even flagged off a fleet of 70 Mahindra e-Verito vehicles in the region of Delhi-NCR. It even now plans to add the 500 Mahindra e-Verito electric sedans by the end of April 2020.
“The startup 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,” said JITO Angel Network.
The industry with some of the players such as the Revolt, Yulu, Ather Energy, Ola Electric, Okinawa, etc. have been picking up the battles to be the part of the EV revolution in India. This has been paired with the investor’s interest such as the Innoven Capital, Hero MotoCorp and Sachin Bansal, etc.