Blue Smart raises $42 million, to expand its shared EV base in Bengaluru

According to news reported earlier this month, BluSmart has raised $42 million in equity and debt funding from existing investors in its Series A2 round, thus bringing the Series A total to $85 million. The funding round saw participation from BP Ventures, the investment arm of energy company BP. A majority of the proceeds came from the founding team that contributed nearly half of the total amount in the Series A2 round in a bid to increase their stake in the company. Around $37 million came from equity, while $5 million was through venture debt, the company said.

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