London-based bp has made its first direct investment in India, investing $13 million (about Rs 97 crore) in integrated EV ride-hailing and charging company BluSmart. The investment arm of bp ventures led a $25-million Series A funding that also saw support from Mayfield India Fund, 9Unicorns and Survam Partners, alongside other existing investors.
Sophia Nadur, managing partner at bp ventures, will join BluSmart’s board. To date, bp Ventures has invested almost $800 million in more than 60 firms across seven geographies.
BluSmart will use the capital to expand its fleet of electric vehicles (EVs) and charging stations from its home city of Delhi …
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