India, April 28 -- Troubled ride-hailing major BluSmart is reportedly in discussions with two climate and mobility-focused distressed funds to revive operations.

"One of the funds has been a large (business-to-business-to-consumer (B2B2C) customer of BluSmart in Delhi," as source told Business Standard.

While the size of the funds remains unknown, the report said that the size and investment offered by the two funds remain larger than what was offered by Everstone Capital for the acquisition earlier.

Last week Inc42 exclusively reported that EverStone is in talks to acquire the EV ride-hailing startup for around INR 800-1,000 Cr.

The report further said that some of the existing investors are also looking to infuse more capital into t...