BluSmart denies reports of acquisition talks with Uber – CNBC TV18

BluSmart, a trip-hailing startup that makes use of solely electrical autos, has categorically denied being in discussions or negotiations relating to an acquisition by Uber. A BluSmart spokesperson confirmed to CNBC-TV18 that reports suggesting such a improvement are fully speculative and unfounded.

As India’s main EV trip-hailing and charging infrastructure platform, BluSmart stays targeted on scaling its operations, increasing its footprint, and driving sustainable mobility ahead, the spokesperson added. “Our dedication to remodeling city transportation with clear vitality stays unwavering, and we proceed to construct for the long run.”

“We urge all stakeholders to ignore these baseless rumors and depend on official firm communications for correct data,” the spokesperson added.

Reports said that Uber is within the early phases of talks to amass BluSmart, as its guardian firm, Gensol Engineering, is trying to exit the capital-intensive enterprise.

These reports have emerged amid liquidity points confronted by Gensol Engineering. Nonetheless, BluSmart has denied any discussions with Uber.

Final 12 months, BluSmart raised roughly ₹200 crore in a funding spherical led by present buyers, together with Zurich-based mostly local weather finance agency ResponsAbility Investments, cricketer MS Dhoni’s Household Workplace, and ReNew founder Sumant Sinha.

Moreover, in January 2024, BluSmart secured $25 million by way of a combination of debt and fairness from ResponsAbility. The corporate has stated that the funding shall be used to develop operations and develop EV charging infrastructure and belongings.