BluSmart raising $24 Mn from existing investors

BluSmart Mobility, an EV ride-hailing service and EV charging superhub infrastructure operator, is raising Rs 200 crore (approximately $24 million) in a pre-Series B round via the right issue. 

The board at BluSmart has passed a special resolution to issue 10,92,890 pre-series B preference shares at an issue price of Rs 1,840 each to raise Rs 200 crore, its regulatory filing accessed from the Registrar of Companies shows. 

The existing investors are likely to participate in the round as the filing reveals the right issue. BluSmart is a capital-intensive business and requires heavy capital to meet the general corporate requirements, the company said in its filings. 

While the company did not disclose the name of investors participating in the latest financing, it is backed by BP Ventures, Survam Partners, Mayfield India Fund, 9Unicorns (now 100Unicorns), JITO Angel Network, Green Frontier Capital, Stride Ventures, Alteria Capital, and BlackSoil, among others.