BluSmart

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BluSmart
Company typePrivate company
IndustryElectric mobility, Transportation
Founded2019
FoundersAnmol Singh Jaggi, Puneet Gupta, Puneet Singh Jaggi
Headquarters
Gurugram, Haryana
,
India
Key people
Anmol Singh Jaggi (CEO), Puneet Gupta (Co-founder), Puneet Singh Jaggi (Co-founder)
ServicesElectric ride-hailing services, fleet management, eco-friendly transportation
Websiteblu-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

References

  1. ↑ YourStory: BluSmart: Redefining Electric Ride-Hailing in India (December 2022)
  2. ↑ The Hindu: BluSmart's Challenges and Opportunities in the Indian EV Ride-Hailing Market (June 2022)
  3. ↑ Economic Times Tech: BluSmart Expands its Electric Ride-Hailing Services (March 2023)
  4. ↑ Inc42: BluSmart Electric Ride-Hailing Startup Raises ₹150 Crore in Series B (July 2023)
  5. ↑ Mint: BluSmart's Fleet Expansion to New Cities (April 2023)
  6. ↑ The Economic Times: BluSmart Expands Zero-Emission Fleet (May 2023)
  7. ↑ BusinessLine: BluSmart's Corporate Mobility Solutions (July 2023)
  8. ↑ India Today: BluSmart's Contribution to India's Sustainability Goals (February 2023)
  9. ↑ "India's BluSmart, rival of Uber, suspends operations after co-founder probed". Reuters. 17 April 2025.
  10. ↑ "End of the road for BluSmart as Sebi exposes Gensol fraud". India Today. 17 April 2025.
  11. ↑ "BluSmart cab services stay suspended in Delhi-NCR, Bengaluru, Mumbai as cofounder under Sebi lens". The Economic Times. 17 April 2025.
  12. ↑ "Indian markets regulator bars Gensol founders from top company roles over EV debt issue". Reuters. 15 April 2025.
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