The country’s first all-electric cab hailing firm, BluSmart, which recently clocked 10 million emission-free rides in a little over four years of its operations, is looking to raise additional funds. However, the company has not been able to meet the targetted amount. Anmol Singh Jaggi, co-founder and CEO, shares with Anees Hussain the company’s expansion plans. Excerpts:
You had a fund raising target of $250 million, but could manage to raise only around $42 million. Why?
A. Out term sheet was ready. However, the current and incoming shareholders couldn’t agree on certain terms and conditions, hence, we could not close the round.
