Key Points
Investors include BP Ventures, the investment arm of energy giant BP Plc that holds 20% equity..
BluSmart Mobility, an Indian ride-hailing startup that uses only electric vehicles, has raised $42 million as it intensifies its battle against the two dominant operators, Uber Technologies Inc. and Ola Cabs..
BluSmart is currently valued at $250 million, its co-founder Anmol Jaggi told Bloomberg News, and the founders too participated in the current round...
While rivals Ola and Uber have integrated some electric vehicles into their large fleets, Jaggi sees an opportunity in providing customers EVs exclusively..
Uber and Ola arent doing justice to their customers or drivers, said Jaggi, 37, whos also chief executive officer.Those platforms are losing money, their business doesnt have unit economics..
You might be interested in
BluSmart Mobility, EV-only Uber rival raises $42 million in BP-led round
04, May, 23BluSmart Mobility, an Indian ride-hailing startup that uses only electric vehicles, has raised $42 million as it intensifies its battle against the two dominant operators, Uber Technologies Inc. and Ola Cabs.
Temasek to lead Ola Electric’s $350 mn fundraising round
22, Jun, 23The deal could value Bhavish Aggarwal-led Ola Electric to $6 billion, 20% higher than the $5 billion valuation it secured in the last funding round in early 2022
World Environment Day: Has move towards electric cars helped us reduce dependence on fossils?
03, Jun, 23India's domestic electric vehicle (EV) market is predicted to grow 49% between 2022 and 2030, reaching 10 million sales annually by 2030. However, the source of electricity that powers EVs must be decarbonised if they are to truly be zero-emission agents. Is that possible?
Together AI valued at $1.25 billion in Salesforce-led funding round
13, Mar, 24(Reuters) - Nvidia-backed Together AI has raised $106 million at a valuation of $1.25 billion in a new funding round led by Salesforce Ventures, the generative artificial intelligence (AI) startup
Ola Electrifies Dalal St with 20% jump on debut
10, Aug, 24India Business News: Ola Electric Mobility shares saw a significant surge on their debut, closing with a 20% gain at Rs 91. The Rs 6,146-crore IPO was the largest in India
The energy firm in sights of a global consortium
05, Apr, 24The deal involves the sale of private equity firm TPG Capital’s 52% stake in the company
PM Modis green dream at risk as Indian renewables hit by headwinds
23, Mar, 23Energy transition investments in India already lag behind other major nations and now the cost of capital is increasing as global interest rates rise
Siberia to Delhi: Russian company inDrive in overdrive to break Ola, Uber duopoly
07, Mar, 23The firm aims to address all three problems – with a unique pricing mechanism that takes ride-hailing back to the taxi era, and a commission cut which it claims will remain lower than what Ola and Uber charge.
Delayed rate cuts negative for Indian markets; investment opportunities galore in several sectors: Hemant Sood of Findoc
13, Mar, 24Hemant Sood, MD of Findoc, predicts a negative impact on the Indian market due to delayed US rate cuts. Delayed rate cuts may lead to FIIs pulling out money, impacting Indian markets negatively.
Markets exit FY24 with smart returns; investors become richer by Rs 128.77 lakh cr
28, Mar, 24New Delhi, Mar 28 (PTI) Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns […]