Some of the startup’s existing investors also participated in the pre-Series A financing round.
Blu Smart will use the fresh funding for operations, car lease deposits, and marketing purposes, the report said.
Founded by Puneet Singh Jaggi, Anmol Singh Jaggi and Punit K Goyal in October 2018, Blu Smart had raised $3 million from Bollywood actor Deepika Padukone’s family office Ka Enterprises, JITO Angel Network, Bajaj Capital managing director Sanjiv Bajaj and former McKinsey managing director Rajat Gupta in September last year.
The company reportedly has a fleet of 320 electric cars across NCR and Mumbai and has completed 1.75 lakh trips to date.
INDIA DEAL MONITOR
Here are some prominent venture capital transactions in India between July 2 and July 5, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry||Verticals|
|Blu Smart Mobility Pvt. Ltd||Gurugram||5 million (reported)||Pre-Series A||Mumbai Angels Network, Inflection Point Ventures, LetsVenture||-||Automobiles Other Vehicles & Parts||Electric/Hybrid Vehicles|
|Inspektlabs||Delhi/US||600,000||Pre-Series A||Better Capital, Titan Capital||-||Software||AI & Machine Learning|
|Rudraksha Tech Labs Pvt. Ltd (Gobbly)||Gurugram||500,000||Seed||Sauce.vc||-||Retail||-|
|Purplle||Mumbai||8 million||Secondary||Goldman Sachs||-||Consumer Products||E-commerce|
|Hector Beverages Private Ltd (Paper Boat)||Bengaluru||3.73 million||Series C||Sofina Ventures, A91 Emerging Fund I, SCI Growth Investment II, Catamaran Ventures||-||Food||-|
|Bulk MRO||Delaware/Mumbai||3.3 million||Debt||Stride Ventures||-||Internet||E-commerce|
|Big Bang Boom Solutions (BBBS) Pvt. Ltd||Chennai||1 million||-||Mumbai Angels Network||-||Defense||Robotics & Drones|