BluSmart raises $25 mn from Ability

New Delhi: Switzerland-based impact investor responsAbility on Monday announced that it will invest up to $25 million in EV ride-hailing and charging provider BluSmart, as part of its $500 million climate investment strategy.

This investment will help BluSmart in expanding its EV charging infrastructure across India, signifying a significant step in responsAbility’s mission to mobilise capital and invest in solutions that generate positive societal and environmental impact in emerging markets, the company said.

"With responsAbility’s investment and support, we will continue our mission to rapidly expand our iconic 100 per cent EV ride-hailing service & building large EV charging infrastructure for a better, cleaner and more sustainable future," Anmol Singh Jaggi, Co-Founder of BluSmart, said in a statement. BluSmart presently operates Southeast Asia’s largest vertically integrated EV ecosystem.

According to the company, its born-electric technology stack, built indigenously, operates 6,000 BluSmart EVs and has completed over 11 million all-electric trips, having covered 360 million all-electric kilometres, saving about 26,000 metric tons of CO2 since inception.