BluSmart: Difference between revisions
Startupedia (talk | contribs) Creating BluSmart |
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| logo_caption = BluSmart Logo | | logo_caption = BluSmart Logo | ||
| logo_size = 200px | | logo_size = 200px | ||
| type = Private | | type = [[Private company]] | ||
| industry = Electric | | industry = [[Electric mobility]], [[Transportation]] | ||
| founded = 2019 | | founded = 2019 | ||
| founders = [[Anmol Singh Jaggi]], [[Puneet Gupta]], [[Puneet Singh Jaggi]] | | founders = [[Anmol Singh Jaggi]], [[Puneet Gupta]], [[Puneet Singh Jaggi]] | ||
| location_city = | | location_city = [[Gurugram]], [[Haryana]] | ||
| location_country = India | | location_country = [[India]] | ||
| key_people = [[Anmol Singh Jaggi]] (CEO), [[Puneet Gupta]] (Co-founder), [[Puneet Singh Jaggi]] Co-founder) | | key_people = [[Anmol Singh Jaggi]] (CEO), [[Puneet Gupta]] (Co-founder), [[Puneet Singh Jaggi]] (Co-founder) | ||
| services = Electric ride-hailing services, fleet management, eco-friendly transportation | | services = [[Electric vehicle|Electric]] [[ride-hailing services]], [[fleet management]], [[eco-friendly]] [[transportation]] | ||
| website = [https://blu-smart.com blu-smart.com] | | website = [https://blu-smart.com blu-smart.com] | ||
}} | }} | ||
'''BluSmart''' is an Indian electric mobility startup offering eco-friendly ride-hailing services through a fleet of electric vehicles (EVs). Founded in 2019 by [[Anmol Singh Jaggi]], [[Puneet Singh Jaggi]] and [[Puneet Gupta]], BluSmart is revolutionizing urban transportation by promoting electric vehicles and sustainable travel alternatives. | '''BluSmart''' is an Indian [[electric mobility]] startup offering eco-friendly [[ride-hailing]] services through a fleet of [[electric vehicles]] (EVs). Founded in 2019 by [[Anmol Singh Jaggi]], [[Puneet Singh Jaggi]] and [[Puneet Gupta]], BluSmart is revolutionizing [[urban transportation]] by promoting electric vehicles and sustainable travel alternatives. | ||
== History == | == History == | ||
BluSmart was founded with the vision to reduce carbon emissions, provide affordable transportation, and create a sustainable urban mobility solution. The company started its operations in 2019 in Delhi and later expanded to other major cities in India. With a mission to reduce reliance on fossil fuels and encourage the use of electric vehicles, BluSmart’s fleet is fully electric, offering a zero-emission ride-hailing service. | BluSmart was founded with the vision to reduce [[carbon emissions]], provide affordable [[transportation]], and create a sustainable [[urban mobility]] solution. The company started its operations in 2019 in [[Delhi]] and later expanded to other major cities in [[India]]. With a mission to reduce reliance on [[fossil fuels]] and encourage the use of electric vehicles, BluSmart’s fleet is fully electric, offering a zero-emission ride-hailing service. | ||
BluSmart's founders, Anmol Singh Jaggi, Puneet Singh Jaggi and Puneet Gupta, came together to address the transportation challenges in urban areas and promote sustainability through clean energy solutions. The company's focus has always been on providing a high-quality, reliable, and eco-friendly transportation experience for commuters. <ref name="YourStory">[https://yourstory.com/2022/12/blusmart-electric-ride-hailing-startup-growth-sustainability YourStory: BluSmart: Redefining Electric Ride-Hailing in India] (December 2022)</ref> | BluSmart's founders, Anmol Singh Jaggi, Puneet Singh Jaggi and Puneet Gupta, came together to address the transportation challenges in urban areas and promote sustainability through [[clean energy]] solutions. The company's focus has always been on providing a high-quality, reliable, and eco-friendly transportation experience for commuters. <ref name="YourStory">[https://yourstory.com/2022/12/blusmart-electric-ride-hailing-startup-growth-sustainability YourStory: BluSmart: Redefining Electric Ride-Hailing in India] (December 2022)</ref> | ||
== Business Model == | == Business Model == | ||
BluSmart operates in the electric mobility space by offering ride-hailing services using only electric vehicles (EVs). The company’s model is based on providing sustainable, cost-effective, and convenient travel options for users. Unlike traditional ride-hailing companies, BluSmart uses electric cars that are charged using renewable energy sources. This reduces the environmental impact of transportation and helps promote sustainability in India’s rapidly growing urban landscape. <ref name="TheHindu">[https://www.thehindu.com/business/startup/blusmart-electric-ride-hailing-startup-challenges-in-india/article35014163.ece The Hindu: BluSmart's Challenges and Opportunities in the Indian EV Ride-Hailing Market] (June 2022)</ref> | BluSmart operates in the [[electric mobility]] space by offering ride-hailing services using only [[electric vehicles]] (EVs). The company’s model is based on providing [[sustainable]], cost-effective, and convenient travel options for users. Unlike traditional ride-hailing companies, BluSmart uses electric cars that are charged using [[renewable energy]] sources. This reduces the [[environmental impact]] of transportation and helps promote sustainability in India’s rapidly growing [[urbanization|urban]] landscape. <ref name="TheHindu">[https://www.thehindu.com/business/startup/blusmart-electric-ride-hailing-startup-challenges-in-india/article35014163.ece The Hindu: BluSmart's Challenges and Opportunities in the Indian EV Ride-Hailing Market] (June 2022)</ref> | ||
The company also has a unique model for fleet management, where it operates a fleet of electric vehicles and manages the charging infrastructure. BluSmart's service includes rides for individuals, as well as corporate clients looking to implement sustainable transportation practices. BluSmart's app allows customers to book rides, track their trips, and choose from a variety of electric vehicle options. | The company also has a unique model for [[fleet management]], where it operates a fleet of electric vehicles and manages the [[EV charging infrastructure|charging infrastructure]]. BluSmart's service includes rides for individuals, as well as [[corporate]] clients looking to implement sustainable transportation practices. BluSmart's app allows customers to book rides, track their trips, and choose from a variety of electric vehicle options. | ||
== Key Features == | == Key Features == | ||
* Electric Fleet: BluSmart only operates electric vehicles, ensuring zero-emission rides for its users. | * '''Electric Fleet''': BluSmart only operates [[electric vehicles]], ensuring [[zero-emission]] rides for its users. | ||
* Sustainability Focus: BluSmart focuses on sustainable urban mobility solutions to reduce the carbon footprint of transportation in cities. | * '''Sustainability Focus''': BluSmart focuses on [[sustainable transport|sustainable urban mobility]] solutions to reduce the carbon footprint of transportation in cities. | ||
* Affordable Pricing: BluSmart offers competitive pricing to make electric ride-hailing more accessible. | * '''Affordable Pricing''': BluSmart offers competitive pricing to make electric ride-hailing more accessible. | ||
* Technology-Driven: The platform uses technology to provide seamless rides, including ride tracking, payments, and fleet management. | * '''Technology-Driven''': The platform uses [[technology]] to provide seamless rides, including ride tracking, [[digital payment|payments]], and fleet management. | ||
* Corporate Tie-ups: BluSmart partners with businesses to provide electric mobility solutions for their employees, encouraging the adoption of green transportation solutions. <ref name="ETTech">[https://tech.economictimes.indiatimes.com/news/startups/blusmart-electric-ride-hailing-funding-expansion/107872481 Economic Times Tech: BluSmart Expands its Electric Ride-Hailing Services] (March 2023)</ref> | * '''Corporate Tie-ups''': BluSmart partners with businesses to provide electric mobility solutions for their employees, encouraging the adoption of green transportation solutions. <ref name="ETTech">[https://tech.economictimes.indiatimes.com/news/startups/blusmart-electric-ride-hailing-funding-expansion/107872481 Economic Times Tech: BluSmart Expands its Electric Ride-Hailing Services] (March 2023)</ref> | ||
== Funding and Investments == | == Funding and Investments == | ||
BluSmart has raised significant funding from several investors to expand its fleet and operations. Some of the key funding rounds and investors include: | BluSmart has raised significant [[startup funding|funding]] from several [[investor|investors]] to expand its fleet and operations. Some of the key [[funding rounds]] and investors include: | ||
* 2023 – Series B: BluSmart raised ₹150 Crore (~$20 million) to scale its operations and expand its EV fleet. | * '''2023 – Series B''': BluSmart raised ₹150 Crore (~$20 million) to scale its operations and expand its EV fleet. | ||
* 2022 – Series A: Raised ₹70 Crore (~$9 million) to enhance its technological capabilities and grow its service areas. | * '''2022 – Series A''': Raised ₹70 Crore (~$9 million) to enhance its technological capabilities and grow its service areas. | ||
* 2021 – Seed Round: BluSmart raised ₹25 Crore (~$3.5 million) to kickstart its operations in Delhi and expand its fleet of electric vehicles. <ref name="Inc42">[https://inc42.com/startups/blusmart-electric-ride-hailing-funding-raises-2023/ Inc42: BluSmart Electric Ride-Hailing Startup Raises ₹150 Crore in Series B] (July 2023)</ref> | * '''2021 – Seed Round''': BluSmart raised ₹25 Crore (~$3.5 million) to kickstart its operations in Delhi and expand its fleet of electric vehicles. <ref name="Inc42">[https://inc42.com/startups/blusmart-electric-ride-hailing-funding-raises-2023/ Inc42: BluSmart Electric Ride-Hailing Startup Raises ₹150 Crore in Series B] (July 2023)</ref> | ||
BluSmart's investors include venture capital firms, angel | BluSmart's investors include [[venture capital]] firms, [[angel investor]]s, and organizations with a focus on [[clean energy]] and [[sustainability]]. Notably, the company has received backing from [[Indian Institute of Management Ahmedabad|IIM Ahmedabad]]’s [[CIIE.CO]] and other [[climate-focused investment firms]]. | ||
== Achievements and Milestones == | == Achievements and Milestones == | ||
BluSmart has made significant strides in promoting electric mobility and sustainable transportation in India. Some of its key achievements include: | BluSmart has made significant strides in promoting [[electric mobility]] and sustainable transportation in India. Some of its key achievements include: | ||
* Fleet Expansion: The company operates a fleet of over 200 electric vehicles in Delhi and is expanding into other cities. <ref name="Mint">[https://www.livemint.com/companies/startups/blusmart-ride-hailing-ev-expansion-11621346703237.html Mint: BluSmart's Fleet Expansion to New Cities] (April 2023)</ref> | * '''Fleet Expansion''': The company operates a fleet of over 200 electric vehicles in [[Delhi]] and is expanding into other cities. <ref name="Mint">[https://www.livemint.com/companies/startups/blusmart-ride-hailing-ev-expansion-11621346703237.html Mint: BluSmart's Fleet Expansion to New Cities] (April 2023)</ref> | ||
* Clean Energy Initiative: BluSmart is committed to reducing the carbon footprint of transportation by exclusively using electric vehicles. <ref name="TheEconomicTimes">[https://economictimes.indiatimes.com/industry/renewables/blusmart-expands-zero-emission-ev-ride-hailing-fleet/12654571.cms The Economic Times: BluSmart Expands Zero-Emission Fleet] (May 2023)</ref> | * '''Clean Energy Initiative''': BluSmart is committed to reducing the carbon footprint of transportation by exclusively using electric vehicles. <ref name="TheEconomicTimes">[https://economictimes.indiatimes.com/industry/renewables/blusmart-expands-zero-emission-ev-ride-hailing-fleet/12654571.cms The Economic Times: BluSmart Expands Zero-Emission Fleet] (May 2023)</ref> | ||
* Corporate Partnerships: The company has partnered with various corporations to provide electric mobility solutions to their employees. <ref name="BusinessLine">[https://www.thehindubusinessline.com/companies/blusmart-electric-ride-hailing-corporate-partnerships/article22165930.ece BusinessLine: BluSmart's Corporate Mobility Solutions] (July 2023)</ref> | * '''Corporate Partnerships''': The company has partnered with various corporations to provide electric mobility solutions to their employees. <ref name="BusinessLine">[https://www.thehindubusinessline.com/companies/blusmart-electric-ride-hailing-corporate-partnerships/article22165930.ece BusinessLine: BluSmart's Corporate Mobility Solutions] (July 2023)</ref> | ||
== Environmental Impact == | == Environmental Impact == | ||
BluSmart’s electric vehicles help reduce carbon emissions by offering an alternative to traditional petrol and diesel-powered transportation. The company has stated that it aims to replace traditional combustion engine vehicles with electric alternatives to help combat air pollution, especially in cities like Delhi, which have some of the worst air quality in the world. By offering electric ride-hailing services, BluSmart aims to contribute to India's ambitious goals of reducing carbon emissions and fostering sustainable mobility solutions. <ref name="IndiaToday">[https://www.indiatoday.in/technology/features/story/blusmart-electric-ride-hailing-impact-on-indias-sustainability-goals-2023-02-19 India Today: BluSmart's Contribution to India's Sustainability Goals] (February 2023)</ref> | BluSmart’s electric vehicles help reduce [[greenhouse gas emissions|carbon emissions]] by offering an alternative to traditional [[petrol]] and [[diesel]]-powered transportation. The company has stated that it aims to replace traditional [[internal combustion engine|combustion engine]] vehicles with electric alternatives to help combat [[air pollution]], especially in cities like [[Delhi]], which have some of the worst [[air quality]] in the world. By offering electric ride-hailing services, BluSmart aims to contribute to [[India]]'s ambitious goals of reducing carbon emissions and fostering sustainable mobility solutions. <ref name="IndiaToday">[https://www.indiatoday.in/technology/features/story/blusmart-electric-ride-hailing-impact-on-indias-sustainability-goals-2023-02-19 India Today: BluSmart's Contribution to India's Sustainability Goals] (February 2023)</ref> | ||
== Controversies == | |||
In April 2025, BluSmart suspended its operations in [[Delhi-NCR]], [[Bengaluru]], and [[Mumbai]] after [[Securities and Exchange Board of India|SEBI]] barred its co-founders [[Anmol Singh Jaggi]] and [[Puneet Singh Jaggi]] from key roles due to alleged financial irregularities at [[Gensol Engineering]], a related entity. SEBI alleged that ₹262 crore, meant for electric vehicle procurement, was diverted for personal use, including luxury property purchases.<ref>{{cite news |title=India's BluSmart, rival of Uber, suspends operations after co-founder probed |url=https://www.reuters.com/business/autos-transportation/indias-blusmart-rival-uber-suspends-operations-after-co-founder-probed-2025-04-17/ |publisher=Reuters |date=17 April 2025}}</ref><ref>{{cite news |title=End of the road for BluSmart as Sebi exposes Gensol fraud |url=https://www.indiatoday.in/business/story/blusmart-shuts-operations-sebi-expose-gensol-fraud-anmol-puneet-singh-jaggi-2710342-2025-04-17 |publisher=India Today |date=17 April 2025}}</ref><ref>{{cite news |title=BluSmart cab services stay suspended in Delhi-NCR, Bengaluru, Mumbai as cofounder under Sebi lens |url=https://m.economictimes.com/tech/startups/blusmart-cab-services-stay-suspended-in-delhi-ncr-bengaluru-mumbai-as-cofounder-under-sebi-lens/articleshow/120372719.cms |publisher=The Economic Times |date=17 April 2025}}</ref><ref>{{cite news |title=Indian markets regulator bars Gensol founders from top company roles over EV debt issue |url=https://www.reuters.com/world/india/indian-markets-regulator-bars-gensol-founders-top-company-roles-over-ev-debt-2025-04-15/ |publisher=Reuters |date=15 April 2025}}</ref> | |||
== Competitors == | == Competitors == | ||
| Line 69: | Line 72: | ||
* [[Ola Electric]] | * [[Ola Electric]] | ||
* [[Uber India]] | * [[Uber India]] | ||
* [[Bounce]] | * [[Bounce (company)|Bounce]] | ||
* [[Yulu]] | * [[Yulu (company)|Yulu]] | ||
* [[Tata Motors]] | * [[Tata Motors]] | ||
== See Also == | == See Also == | ||
* [[Electric | * [[Electric vehicles in India]] | ||
* [[Urban | * [[Urban mobility in India]] | ||
* [[Sustainable | * [[Sustainable transport]] | ||
* [[Ride-hailing | * [[Ride-hailing services in India]] | ||
== References == | == References == | ||
<references /> | <references /> | ||
Revision as of 08:00, 17 April 2025
 BluSmart Logo | |
| Company type | Private company |
|---|---|
| Industry | Electric mobility, Transportation |
| Founded | 2019 |
| Founders | Anmol Singh Jaggi, Puneet Gupta, Puneet Singh Jaggi |
| Headquarters | , |
Key people | Anmol Singh Jaggi (CEO), Puneet Gupta (Co-founder), Puneet Singh Jaggi (Co-founder) |
| Services | Electric ride-hailing services, fleet management, eco-friendly transportation |
| Website | blu-smart.com |
BluSmart is an Indian electric mobility startup offering eco-friendly ride-hailing services through a fleet of electric vehicles (EVs). Founded in 2019 by Anmol Singh Jaggi, Puneet Singh Jaggi and Puneet Gupta, BluSmart is revolutionizing urban transportation by promoting electric vehicles and sustainable travel alternatives.
History
BluSmart was founded with the vision to reduce carbon emissions, provide affordable transportation, and create a sustainable urban mobility solution. The company started its operations in 2019 in Delhi and later expanded to other major cities in India. With a mission to reduce reliance on fossil fuels and encourage the use of electric vehicles, BluSmart’s fleet is fully electric, offering a zero-emission ride-hailing service.
BluSmart's founders, Anmol Singh Jaggi, Puneet Singh Jaggi and Puneet Gupta, came together to address the transportation challenges in urban areas and promote sustainability through clean energy solutions. The company's focus has always been on providing a high-quality, reliable, and eco-friendly transportation experience for commuters. [1]
Business Model
BluSmart operates in the electric mobility space by offering ride-hailing services using only electric vehicles (EVs). The company’s model is based on providing sustainable, cost-effective, and convenient travel options for users. Unlike traditional ride-hailing companies, BluSmart uses electric cars that are charged using renewable energy sources. This reduces the environmental impact of transportation and helps promote sustainability in India’s rapidly growing urban landscape. [2]
The company also has a unique model for fleet management, where it operates a fleet of electric vehicles and manages the charging infrastructure. BluSmart's service includes rides for individuals, as well as corporate clients looking to implement sustainable transportation practices. BluSmart's app allows customers to book rides, track their trips, and choose from a variety of electric vehicle options.
Key Features
- Electric Fleet: BluSmart only operates electric vehicles, ensuring zero-emission rides for its users.
- Sustainability Focus: BluSmart focuses on sustainable urban mobility solutions to reduce the carbon footprint of transportation in cities.
- Affordable Pricing: BluSmart offers competitive pricing to make electric ride-hailing more accessible.
- Technology-Driven: The platform uses technology to provide seamless rides, including ride tracking, payments, and fleet management.
- Corporate Tie-ups: BluSmart partners with businesses to provide electric mobility solutions for their employees, encouraging the adoption of green transportation solutions. [3]
Funding and Investments
BluSmart has raised significant funding from several investors to expand its fleet and operations. Some of the key funding rounds and investors include:
- 2023 – Series B: BluSmart raised ₹150 Crore (~$20 million) to scale its operations and expand its EV fleet.
- 2022 – Series A: Raised ₹70 Crore (~$9 million) to enhance its technological capabilities and grow its service areas.
- 2021 – Seed Round: BluSmart raised ₹25 Crore (~$3.5 million) to kickstart its operations in Delhi and expand its fleet of electric vehicles. [4]
BluSmart's investors include venture capital firms, angel investors, and organizations with a focus on clean energy and sustainability. Notably, the company has received backing from IIM Ahmedabad’s CIIE.CO and other climate-focused investment firms.
Achievements and Milestones
BluSmart has made significant strides in promoting electric mobility and sustainable transportation in India. Some of its key achievements include:
- Fleet Expansion: The company operates a fleet of over 200 electric vehicles in Delhi and is expanding into other cities. [5]
- Clean Energy Initiative: BluSmart is committed to reducing the carbon footprint of transportation by exclusively using electric vehicles. [6]
- Corporate Partnerships: The company has partnered with various corporations to provide electric mobility solutions to their employees. [7]
Environmental Impact
BluSmart’s electric vehicles help reduce carbon emissions by offering an alternative to traditional petrol and diesel-powered transportation. The company has stated that it aims to replace traditional combustion engine vehicles with electric alternatives to help combat air pollution, especially in cities like Delhi, which have some of the worst air quality in the world. By offering electric ride-hailing services, BluSmart aims to contribute to India's ambitious goals of reducing carbon emissions and fostering sustainable mobility solutions. [8]
Controversies
In April 2025, BluSmart suspended its operations in Delhi-NCR, Bengaluru, and Mumbai after SEBI barred its co-founders Anmol Singh Jaggi and Puneet Singh Jaggi from key roles due to alleged financial irregularities at Gensol Engineering, a related entity. SEBI alleged that ₹262 crore, meant for electric vehicle procurement, was diverted for personal use, including luxury property purchases.[9][10][11][12]
Competitors
BluSmart operates in a competitive landscape with other ride-hailing companies and electric vehicle startups in India, including:
See Also
- Electric vehicles in India
- Urban mobility in India
- Sustainable transport
- Ride-hailing services in India
References
- ↑ YourStory: BluSmart: Redefining Electric Ride-Hailing in India (December 2022)
- ↑ The Hindu: BluSmart's Challenges and Opportunities in the Indian EV Ride-Hailing Market (June 2022)
- ↑ Economic Times Tech: BluSmart Expands its Electric Ride-Hailing Services (March 2023)
- ↑ Inc42: BluSmart Electric Ride-Hailing Startup Raises ₹150 Crore in Series B (July 2023)
- ↑ Mint: BluSmart's Fleet Expansion to New Cities (April 2023)
- ↑ The Economic Times: BluSmart Expands Zero-Emission Fleet (May 2023)
- ↑ BusinessLine: BluSmart's Corporate Mobility Solutions (July 2023)
- ↑ India Today: BluSmart's Contribution to India's Sustainability Goals (February 2023)
- ↑ "India's BluSmart, rival of Uber, suspends operations after co-founder probed". Reuters. 17 April 2025.
- ↑ "End of the road for BluSmart as Sebi exposes Gensol fraud". India Today. 17 April 2025.
- ↑ "BluSmart cab services stay suspended in Delhi-NCR, Bengaluru, Mumbai as cofounder under Sebi lens". The Economic Times. 17 April 2025.
- ↑ "Indian markets regulator bars Gensol founders from top company roles over EV debt issue". Reuters. 15 April 2025.