BP leads $25 million funding round in EV ride-hailing startup BluSmart

New Delhi: BP Ventures has made its first direct investment in India by pumping in $13 million in integrated EV ride-hailing and charging company BluSmart. It led a $25 million Series A round that also saw support from Mayfield India Fund, 9Unicorns and Survam Partners, alongside other existing investors, the firm said in a statement.

“BluSmart will use the capital to expand its fleet of electric vehicles and charging stations from its home city of Delhi to five additional Indian cities in the next two years,” it said.

The statement, however, did not say the funding will translate into how much equity holding in BluSmart.