India Deal Monitor: Blu Smart raises $5m funding and more updates

Electric mobility startup Blu Smart has raised about $5 million (Rs 37 crore) in fresh funding from Mumbai Angels Network, Inflection Point Ventures and LetsVenture, Entrackr reported.

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.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals 
Blu Smart Mobility Pvt. LtdGurugram5 million (reported)Pre-Series AMumbai Angels Network, Inflection Point Ventures, LetsVenture-Automobiles Other Vehicles & PartsElectric/Hybrid Vehicles
InspektlabsDelhi/US600,000Pre-Series ABetter Capital, Titan Capital-SoftwareAI & Machine Learning
Rudraksha Tech Labs Pvt. Ltd (Gobbly)Gurugram500,000SeedSauce.vc-Retail-
PurplleMumbai8 millionSecondaryGoldman Sachs-Consumer ProductsE-commerce
Hector Beverages Private Ltd (Paper Boat)Bengaluru3.73 millionSeries CSofina Ventures, A91 Emerging Fund I, SCI Growth Investment II, Catamaran Ventures-Food-
Bulk MRODelaware/Mumbai3.3 millionDebtStride Ventures-InternetE-commerce
Big Bang Boom Solutions (BBBS) Pvt. LtdChennai1 million-Mumbai Angels Network-DefenseRobotics & Drones

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.