E-mobility startup Blu Smart secures seed funding to expand its offerings beyond Delhi-NCR

Electric mobility startup Blu Smart has raised $2.2 million in seed funding from multiple investors led by JITO Angel Network. The round has also seen participation from Hero Motocorp, MayField Fund and Centrum, Micromax and few individual investors among others. 

The new funds will be utilised by the company to expand its offerings and services beyond Delhi-NCR, where it is currently centred.

Initially launched in January 2019, Blu Smart was founded by Anmol Jaggi and Punit K Goyal. The Gurugram-headquartered company’s new plans include subscription-based car rentals, ride sharing on both electric cars and bikes, and shared electric vehicle (EV) charging infrastructure across Delhi NCR region.

In June 2019, Blu Smart collaborated with Mahindra Electric to onboard 70 Mahindra eVerito premium sedans in its cab fleet. The startup further plans to add up to 500 Mahindra eVeritos by April 2020 and also expand to other densely populated cities like Mumbai and Pune.

JITO Angel Network said, “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.”