Former captain of the Indian cricket team, Mahendra Singh Dhoni, is among the investors in a Rs 200-crore funding round at BluSmart which competes with Ola and Uber in EV business.
This marks the third investment by Dhoni in the automobile space after electric cycles maker EMotorad, and used car retailer Cars24.
Founded in 2019, Blusmart is a ride hailing service like the IPO-bound Ola and Uber but Blusmart only uses electric vehicles.
This would be the at least Dhoni’s third investment in startups in the automobile sector.
Some of Dhoni’s other investments include electric cycles maker EMotorad, used car retailer Cars24, and digital lending platform Khatabook, accoridng to media reports.
“Investing in BluSmart’s sustainable business model is not just about supporting a company; it’s about being part of a movement that shapes the future of mobility. In a world where innovation drives sustainable choices, I am excited to back BluSmart’s pioneering efforts in reshaping urban transportation,” Dhoni said, according to the statement.
CNBC-TV18 had reported the pre-seried B fundraising on May 24. The five-year-old startup would be valued at $250 million, co-founder Punit Goyal had confirmed to CNBC-TV18.
To put it in perspective, the founders of Ola, which was founded in 2010, are reportedly targeting a valuation of over $7 billion in the upcoming IPO. However, as of February 2024, one of Ola’s investors had slashed the valuation to $1.9 billion