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BluSmart which is aiming to increase its EV fleet size to 8,000 across Delhi and Bengaluru next year has raised $24 million in a new equity round and will expand its charging infrastructure

Electric ride-hailing firm BluSmart raises $24 million to expand charging infrastructure

<h2>BluSmart which is aiming to increase its EV fleet size to 8,000 across Delhi and Bengaluru next year has raised $24 million in a new equity round and will expand its charging infrastructure</h2>

India's electric ride hailing firm BluSmart has raised $24 million (Rs 200 crore), in a new equity round. The firm has said that this new fund will be used to expand its electric vehicle charging infrastructure.
<h3>BluSmart's fundraising</h3>
The firm's founders, existing investors and the company's leadership team participated in the fund raising round.&nbsp;
"It has been a landmark year for BluSmart with great achievements like the historic milestone of completion of 10 million electric trips and key industry recognitions," said Anmol Singh Jaggi, co-founder and chief executive officer (CEO) of BluSmart.
Also Read: <a href="https://www.editorji.com/business-news/economy/remittances-into-india-remain-the-highest-rises-12-3-to-125-billion-in-2023-world-bank-1702983216273">Remittances into India remain the highest; rises 12.3% to $125 billion in 2023: World Bank</a>
Backed by the Development Financial Institutions (DFI), BluSmart has also secured long-term and sustainable EV asset financing of $200 million.
"The overwhelming support for the rights issue by our investors and belief exhibited by leading Development Financial Institutions (DFIs) shows exceptional confidence in our mission," said Jaggi.
<h3>BluSmart EV charging Infrastructure</h3>
BluSmart which operates over 4,000 EV chargers in India, aims to increase the EV fleet size to 8,000 across Delhi and Bengaluru next year.
"EV charging infrastructure is the biggest bottleneck for large-scale EV adoption and is also the single largest opportunity. Cities have challenges with finite prime locations and lack of adequate power load," said Tushar Garg, CEO of BluSmart Charging.
"BluSmart is building large EV Charging Superhubs at prime locations across Delhi and Bangalore with industry-leading utilisation," he added.
With over 5,500 EVs on Indian roads, BluSmart operates India's and South East Asia's largest EV full-stack ecosystem. As per BluSmart, the firm has crossed $50 million in annual revenue run-rate and is growing at more than 100 per cent year-on-year.

M&M is in advanced talks with global investors to raise $1-1.3 billion by selling shares in its electric vehicles units. Mahindra is likely to raise capital in multiple tranches over the next two fiscal years, primarily through stake sales in the EV subsidiary

M&M to raise $1.3 billion for EV unit: Report

M&amp;M is in advanced talks with global investors to raise $1-1.3 billion by selling stake in its electric vehicles units, as per reports.&nbsp;
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Auto major Mahindra &amp; Mahindra Ltd is in advanced talks with global investors to raise $1-1.3 billion by selling shares in its electric vehicles (EV) unit, reported Mint citing sources. The newspaper said that this move is aimed at accelerating the expansion plans of its newly formed subsidiary, EV Co.&nbsp;
Mahindra is likely to raise capital in multiple tranches over the next two fiscal years, primarily through stake sales in the EV subsidiary.&nbsp; Mahindra is preparing to establish a new EV factory near Pune and developing platforms for its upcoming electric sport utility vehicles. The conglomerate has estimated an investment requirement of at least ₹10,000 crore for its EV business over the next 2-3 years.
Last year, Mahindra and British International Investment (BII) signed a binding agreement to invest as much as $250 million each into Mahindra&rsquo;s EV subsidiary.&nbsp;

'Master Blaster',&nbsp;Sachin Tendulkar&nbsp;further strengthened his ties with digital entertainment technology company&nbsp;JetSynthesys&nbsp;by pitching in $2 million&nbsp; as investment.&nbsp;JetSynthesys is one of the leading names in the gaming industry and is known for developing mobile games with high fidelity and network play.&nbsp;The company had previously joined hands with Tendulkar to launch two platforms including gaming apps Sachin Saga Cricket Champions, Sachin Saga VR and digital destination for all things cricket, 100MB.JetSynthesys&nbsp; already boats of investors such as Adar Poonawalla,&nbsp;Kris Gopalakrishnan&nbsp;and&nbsp;the promoters of&nbsp;Thermax, Triveni Group.&nbsp;

Sachin Tendulkar invests $2 million in tech startup along with Adar Poonawalla, Kris Gopalakrishnan

Sachin Tendulkar invests $2 million in tech startup along with Adar Poonawalla&nbsp;and&nbsp;Kris Gopalakrishnan

Pitching in the right investment by Tendulkar

Master Blaster increases his investment into&nbsp;digital entertainment and technology firm JetSynthesys

'Master Blaster',&nbsp;Sachin Tendulkar&nbsp;further strengthened his ties with digital entertainment technology company&nbsp;JetSynthesys&nbsp;by pitching in $2 million&nbsp; as investment.&nbsp; JetSynthesys is one of the leading names in the gaming industry and is known for developing mobile games with high fidelity and network play.&nbsp;The company had previously joined hands with Tendulkar to launch two platforms including gaming apps Sachin Saga Cricket Champions, Sachin Saga VR and digital destination for all things cricket, 100MB. JetSynthesys&nbsp; already boats of investors such as Adar Poonawalla,&nbsp;Kris Gopalakrishnan&nbsp;and&nbsp;the promoters of&nbsp;Thermax, Triveni Group.&nbsp;

SPAC&nbsp;is the new buzz word amongst money managers,&nbsp;With $ 160 billion raised via SPACs through last year upto&nbsp;now it is equalling the IPO&nbsp;market on Wall Street. So&nbsp;what is a SPAC&nbsp;and should you invest in one?&nbsp;&nbsp;Speaking of&nbsp;SPAC&nbsp;&nbsp;SPAC stands for Special Purpose Acquisition Company and more popularly&nbsp;also&nbsp; &ldquo;blank cheque companies.&rdquo;&nbsp;&nbsp;What does it do?&nbsp;Well&nbsp;it really does&nbsp;nothing ,&nbsp;its&nbsp;just a cash shell company created for holding investors&rsquo; money and then spending it. SPACs are created for one purpose: to merge with real businesses that&nbsp;has an actual business.&nbsp;&nbsp;How does it work?&nbsp;SPAC raises money from investors to then buy a private company, effectively taking the company public and without a traditional IPO.&nbsp;SPACs behave much like PE firms in that a group of investors raise funds to strategically buy companies &ndash; the main difference being that the SPAC executes a public versus private offering.&nbsp;Is it not risky?&nbsp;SPACs are a bit like the mystery box on a gameshow as the SPAC does not announce&nbsp;it&rsquo;s&nbsp;acquisition target ahead of raising money from the public.&nbsp;&nbsp;But&hellip;.&nbsp;This helps retail investors get in early they are able to buy shares of the SPAC for as little as $10 a piece and then post the deal could easily double their investment as the SPAC could buy a hot new innovative company.&nbsp;&nbsp;How do you assess a SPAC?Unlike the traditional way of&nbsp;analysing&nbsp;a company through its&nbsp;P&amp;L and balance sheet, SPAC investors look at the performance or the goodwill of its managers/sponsors.&nbsp;&nbsp;The Buzz is evident&nbsp;&nbsp;From Jay Z to&nbsp;Shaquille O&rsquo;Neal everyone is getting a piece of the SPAC pie. Infact&nbsp;Cassius Cuv&eacute;e even got a hit single SPAC Dream streaming on You Tube. And trend is here to stay.&nbsp;

SPAC Explained| Why the blank cheque trend is buzzing, and should you invest in one?

Why is Wall Street buzzing with SPACs? What are they and what makes these blank cheque investments so popular?

What is a SPAC? Explaining the new buzz word in fund raising and listing

SPAC&nbsp;is the new buzz word amongst money managers,&nbsp;With $ 160 billion raised via SPACs through last year upto&nbsp;now it is equalling the IPO&nbsp;market on Wall Street. So&nbsp;what is a SPAC&nbsp;and should you invest in one?&nbsp; &nbsp; Speaking of&nbsp;SPAC&nbsp;&nbsp; SPAC stands for Special Purpose Acquisition Company and more popularly&nbsp;also&nbsp; &ldquo;blank cheque companies.&rdquo;&nbsp; &nbsp; What does it do?&nbsp; Well&nbsp;it really does&nbsp;nothing ,&nbsp;its&nbsp;just a cash shell company created for holding investors&rsquo; money and then spending it. SPACs are created for one purpose: to merge with real businesses that&nbsp;has an actual business.&nbsp;&nbsp; How does it work?&nbsp; SPAC raises money from investors to then buy a private company, effectively taking the company public and without a traditional IPO.&nbsp;SPACs behave much like PE firms in that a group of investors raise funds to strategically buy companies &ndash; the main difference being that the SPAC executes a public versus private offering.&nbsp; Is it not risky?&nbsp; SPACs are a bit like the mystery box on a gameshow as the SPAC does not announce&nbsp;it&rsquo;s&nbsp;acquisition target ahead of raising money from the public.&nbsp;&nbsp; But&hellip;.&nbsp; This helps retail investors get in early they are able to buy shares of the SPAC for as little as $10 a piece and then post the deal could easily double their investment as the SPAC could buy a hot new innovative company.&nbsp;&nbsp; How do you assess a SPAC? Unlike the traditional way of&nbsp;analysing&nbsp;a company through its&nbsp;P&amp;L and balance sheet, SPAC investors look at the performance or the goodwill of its managers/sponsors.&nbsp; &nbsp; The Buzz is evident&nbsp;&nbsp; From Jay Z to&nbsp;Shaquille O&rsquo;Neal everyone is getting a piece of the SPAC pie. Infact&nbsp;Cassius Cuv&eacute;e even got a hit single SPAC Dream streaming on You Tube. And trend is here to stay.&nbsp;

With big ticket startups&nbsp;looking at IPOs, market regulator SEBI is likely to come out with&nbsp;framework on special purpose acquisition companies (SPACs), which will enable these listings on exchanges.&nbsp;PTI reports quoting sources that SEBI&nbsp;is likely to release SPAC&nbsp;guidelines as early as next week.&nbsp;SPACs or as they are popularly called blank cheque companies are formed to raise capital in an initial public offering (IPO) with the purpose of using the proceeds to identify and merge with a target company.&nbsp;Sources told PTI&nbsp;that SEBI&nbsp;may put in place a separate set of regulations on SPAC, whereby detailed listing rules would be provided for such firms. including a minimum threshold size for an IPO.

SEBI likely to release guidelines on SPACs next week, here is what you can expect

Market regulator SEBI&nbsp;gears for startup listing rush on Dalal&nbsp;Street likely to release guidelines on SPAC&nbsp;listings in India.&nbsp;

With big ticket startups&nbsp;looking at IPOs, market regulator SEBI is likely to come out with&nbsp;framework on special purpose acquisition companies (SPACs), which will enable these listings on exchanges.&nbsp; PTI reports quoting sources that SEBI&nbsp;is likely to release SPAC&nbsp;guidelines as early as next week.&nbsp;SPACs or as they are popularly called blank cheque companies are formed to raise capital in an initial public offering (IPO) with the purpose of using the proceeds to identify and merge with a target company.&nbsp; Sources told PTI&nbsp;that SEBI&nbsp;may put in place a separate set of regulations on SPAC, whereby detailed listing rules would be provided for such firms. including a minimum threshold size for an IPO.

Edtech giant&nbsp;Byju's has raised $50 million this time led by&nbsp;IIFL's private equity fund and Maitri Edtech&nbsp;as per reports.&nbsp;This is the second round of fund raising for the e-learning platform, it had reportedly raised&nbsp;$340 million from investors such as UBS Group, Zoom founder Eric Yuan, Blackstone earlier in June. The fund raising by the group had pivoted&nbsp;Byju's&nbsp;to the top of the value chain for Indian startups, outpacing IPO-bound&nbsp;Paytm.&nbsp;
Byju&rsquo;s valuation remains $16.5 billion after the latest round of funding.
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Fund raising alert! Byju's raises another $50 million 

Edtech giant&nbsp;Byju's has raised $50 million this time led by&nbsp;IIFL's private equity fund and Maitri Edtech&nbsp;as per reports.&nbsp; This is the second round of fund raising for the e-learning platform, it had reportedly raised&nbsp;$340 million from investors such as UBS Group, Zoom founder Eric Yuan, Blackstone earlier in June. The fund raising by the group had pivoted&nbsp;Byju's&nbsp;to the top of the value chain for Indian startups, outpacing IPO-bound&nbsp;Paytm.&nbsp;
Byju&rsquo;s valuation remains $16.5 billion after the latest round of funding.
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Edtech giant&nbsp;Byju's has raised $50 million this time led by&nbsp;IIFL's private equity fund and Maitri Edtech&nbsp;as per reports.&nbsp; This is the second round of fund raising for the e-learning platform, it had reportedly raised&nbsp;$340 million from investors such as UBS Group, Zoom founder Eric Yuan, Blackstone earlier in June. The fund raising by the group had pivoted&nbsp;Byju's&nbsp;to the top of the value chain for Indian startups, outpacing IPO-bound&nbsp;Paytm.&nbsp;
Byju&rsquo;s valuation remains $16.5 billion after the latest round of funding.
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Household service and management provider Urban Company (previously called UrbanClap) is now a $2 billion company. The Gurugram&nbsp;based startup&nbsp;raised $225 million which has doubled it's value and is also looking at an IPO.&nbsp;
The company has more than 35,000 service partners across 35 cities in India but ambitions don't end there.&nbsp;With services now extending into&nbsp;UAE, Singapore, Australia and the Kingdom of Saudi Arabia Urban Company is firm on expanding it's global footprint.&nbsp;
Backed by Elevation Capital and Accel&nbsp;this&nbsp;startup&nbsp;also has plans to go public in the next 18-24 months and has started work internally to prepare for the process as per ET.&nbsp;
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The newest unicorn is a household name, Urban Company is now a $2 bn company

The newest unicorn is a household name, now a $2 bn company and is looking to join the IPO&nbsp;rush

The newest unicorn is a household name, now a $2 bn company

Household service and management provider Urban Company (previously called UrbanClap) is now a $2 billion company. The Gurugram&nbsp;based startup&nbsp;raised $225 million which has doubled it's value and is also looking at an IPO.&nbsp;
The company has more than 35,000 service partners across 35 cities in India but ambitions don't end there.&nbsp;With services now extending into&nbsp;UAE, Singapore, Australia and the Kingdom of Saudi Arabia Urban Company is firm on expanding it's global footprint.&nbsp;
Backed by Elevation Capital and Accel&nbsp;this&nbsp;startup&nbsp;also has plans to go public in the next 18-24 months and has started work internally to prepare for the process as per ET.&nbsp;
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fund raising

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