Climate finance firm ResponsAbility invested $25 mn in the electric vehicle (EV) ride-hailing company BluSmart. The company plans to use the funds to develop its electric vehicle (EV) charging system.
Anmol Singh Jaggi, cofounder and CEO of BluSmart, stated that out of the $25 mn, $5 million is for equity capital and $20 million is for debt, as reported by The Economic Times.
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“We have made large-scale investments in real EV assets and EV infrastructure since inception with a singular focus to decarbonise mobility at scale. With ResponsAbility’s investment and support we will continue our mission to rapidly expand our iconic 100% EV ride-hailing service and building large EV charging infrastructure,” Anmol Singh Jaggi, cofounder and CEO of BluSmart.
With sustainability at the heart of everything they do, their mission is to create a complete and all-encompassing platform for electric on-demand mobility, thereby contributing to the transformation of Indian cities.
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By December 21, the founders, leadership team, and current investors had invested $24 million, or around Rs 200 crore, to the firm.
About BluSmart
BluSmart is an all-electric social and intelligent mobility network that was founded in 2019 by Anmol Jaggi, Puneet Jaggi, and Punit Goyal. It offers sharing rides, car-sharing services, and scooter-sharing services.
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