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BluSmart Eyes Climate Funds for Reboot
Business Standard
|April 28, 2025
Beleaguered ride-hailing firm looking to restart operations next month
BluSmart, the all-electric ride-hailing firm, is in talks with two large-scale climate- and mobility-focused distress funds to revive operations, according to sources in the know.
The funds have a legacy of turning around companies in the solar, wind, and electric-vehicle space.
"At BluSmart, the focus is on revival, so some large capital fund comes in. There are two large, clean-climate funds that are looking at BluSmart. They operate in the climate and mobility domain," a source with direct knowledge of the matter said.
The source also said the two funds were larger than Eversource Capital, which reportedly is in talks to acquire BluSmart, in terms of size and investment offer.
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