EV ride-hailing and charging infrastructure network provider BluSmart has expanded its services as it launches in Mumbai.

Currently offering services in Delhi, Bengaluru and UAE, the company will start with rentals and airport rides. The service will cover key areas from Goregaon to Bandra, including the commercial hub Bandra Kurla Complex (BKC), with plans for gradual expansion across the city.

“Today, we’re introducing BluSmart’s premium, and reliable rides to this iconic city, redefining the way Mumbai travels. We’re excited to welcome everyone to a transformative ride experience that mirrors the city’s energy and spirit.” said Punit Goyal, Co-Founder of BluSmart.

Founded in 2019 by Anmol and Puneet Jaggi along with Punit Goyal, BluSmart has raised a Pre-Series B funding round of about ₹200 crore ($24 million) to fuel its expansion. Investors included responsAbility Investments AG, Sumant Sinha and MS Dhoni Family Office.

Blusmart has a fleet of over 8,500 electric vehicles. The company claims to have completed more than 22 million rides, said the company.

Earlier this month, the startup said that its asset-leasing initiative, Assure by BluSmart, crossed ₹100 crore book value. Over the same period, the programme experienced a tenfold increase in monthly financing scale, supported by more than 25 partners.

Under the initiative, partners can purchase electric cars and lease them to BluSmart. These vehicles are integrated into BluSmart’s platform, where they are used for passenger trips to generate earnings as it ensures partners receive fixed monthly rentals.

Last year, Blusmart said that it saw a 102 per cent increase in its annual run rate (ARR), surpassing ₹500 crore in the financial year ending March 2024 (FY24).

(with inputs from BL intern Shrabani Chakraborty)