Blu Smart Mobility Obtains $2.2 Million from Angel Investors
Apart from Jito Angel Network, other funds who contributed in the Angel round comprised Hero MotoCorp, Mayfield Fund, and Centrum, Micromax and few individual investors among others
August 16, 2019. By News Bureau
Blu Smart Mobility has announced that it has obtained a $2.2 million angel round from several investors, with Jito Angel Network leading the round.
Apart from Jito Angel Network, other funds who contributed in the Angel round comprised Hero MotoCorp, MayField Fund and Centrum, Micromax and few individual investors among others.
Blu Smart is a mobility startup focused on electric vehicles. The startup was launched as an all-electric cab service in association with Mahindra and Mahindra.
The fund raised through angel investment will help the company magnify its offerings and services beyond Delhi NCR where it is presently centered. The fuel cost of an electric taxi is Rs 1.25 a km as against diesel and petrol cost of around Rs 6 and Rs 6.5 per km respectively, though the upfront cost of electric car is more.
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