RockyDill0015 at 07:16, 12 February 2026

2026-02-12T07:16:53Z

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{{Short description|Indian electric cab company}}

{{Use Indian English|date=May 2018}}
{{Use dmy dates|date=April 2017}}
{{Infobox company
| name = BluSmart Mobility
| logo = BluLogoNew.svg
| logo_size = 200px
| type = [[Private company|Private]]
| industry = {{plainlist|
*[[Automotive industry|Automotive]]
*[[Electric vehicles]]}}
| founded = {{start date and age|2019|01}}
| location = [[Gurugram]], [[Haryana]], [[India]]
| founder = {{plainlist|
*Anmol Singh Jaggi
*Punit K Goyal
*Puneet Singh Jaggi}}
| area_served = India, Dubai
| services = {{plainlist|
*[[Electric car|Electric cab]]}}
| website = {{url|www.blu-smart.com}}
}}

'''BluSmart Mobility''' was an Indian [[ride-sharing]] company, headquartered in [[Gurugram]].<ref>{{Cite web|date=2020-11-17|title=BluSmart - India's first all-electric vehicle mobility platform|url=https://evduniya.com/ev-india/blusmart-indias-first-all-electric-vehicle-mobility-platform.html|access-date=2021-12-19|website=EV Duniya|language=en-US}}</ref><ref name="auto">{{cite news|date=2 July 2020|title=Financial Express, 2 July 2020|agency=Financial Express|issue=Web|url=https://www.financialexpress.com/auto/industry/indian-ev-market-growth-blusmart-mobility-electric-cabs-electric-cars-mahindra-everito-hyundai-kona/2011244/}}</ref> It was founded by Anmol Singh Jaggi, Punit K Goyal and Puneet Singh Jaggi in 2019.<ref>{{cite news|date=25 June 2019|title=Times of India 25 June 2019|publisher=Times of India|agency=Times of India|url=https://timesofindia.indiatimes.com/business/india-business/deepika-padukones-family-office-invests-in-blu-smart/articleshow/71282064.cms}}</ref>

The company's fleet of vehicles included the [[Mahindra e-Verito]], [[Tata Tigor#Tigor EV|Tata e-Tigor]], [[Tata Motors#Electric vehicles|Tata Xpres-T EV]], [[Hyundai Kona EV|Hyundai Kona Electric]], [[MG ZS (crossover)|MG ZS Electric]], and [[Citroën C3|Citroen e-C3]]. It was India's first all-[[Electric vehicle|electric]] shared smart mobility platform.

The company competed with [[Uber]], [[Ola Consumer|Ola]], and new cab-hailing entrants like [[Rapido (company)|Rapido]] and [[Open Network for Digital Commerce#Mobility|Namma Yatri]].

It shut down operations in April 2025.

== History ==
BluSmart was co-founded on 14 January 2019<ref>{{cite news|date=14 January 2019|title=NDTV Car&Bike, 14 January 2029|publisher=CAR&BIKE|agency=NDTV|issue=Web|url=https://www.carandbike.com/news/indias-first-all-electric-cab-services-blu-smart-launched-in-delhi-ncr-1977605}}</ref> by Anmol Singh Jaggi, Puneet Singh Jaggi, and Punit K Goyal. In the same month, BluSmart partnered with [[Mahindra & Mahindra]]<ref>{{cite news|date=4 June 2019|title=Times Now, 4th June, 2019|agency=Times Now|issue=Digital|url=https://www.timesnownews.com/auto/features/article/mahindra-and-blu-smart-team-up-to-launch-intercity-all-electric-cab-service-in-india/431149}}</ref> to launch the first batch of EVs on the platform. In September 2019, the company, led by JITO Angel Network, Investment Office of [[Deepika Padukone]], raised an [[angel round]] of {{USD|3 million}}.<ref>{{cite web|date=24 September 2019|title=Inc42 24 September, 2019|url=https://inc42.com/buzz/deepika-padukones-family-office-invests-in-electric-cab-hailing-startup-blu-smart/|website=Inc42}}</ref><ref>{{cite news|date=23 September 2019|title=Mint, 23 September 2019|agency=Mint|issue=Online|url=https://www.livemint.com/companies/start-ups/deepika-padukone-s-family-office-invests-in-blu-smart-1569243127845.html}}</ref>

On World EV Day 2021, BluSmart announced a partnership with Jio-BP<ref>{{Cite web|last=Pathak|first=Kalpana|date=2021-09-09|title=Jio-bp partners with BluSmart to set up EV charging infrastructure in India|url=https://www.livemint.com/companies/news/jiobp-partners-with-blusmart-to-set-up-ev-charging-infrastructure-in-india-11631169615847.html|access-date=2021-09-14|website=mint|language=en}}</ref> to set up charging infrastructure across India.<ref>{{Cite news|last=Mukul|first=Jyoti|date=2021-09-09|title=Jio-bp partners with BluSmart to set up EV charging infra in India|work=Business Standard India|url=https://www.business-standard.com/article/companies/jio-bp-partners-with-blusmart-to-set-up-ev-charging-infra-in-india-121090900512_1.html#:~:text=Reliance%20Industries%20Ltd%20(RIL)%20through,vehicle%20(EV)%20charging%20infrastructure.|access-date=2021-09-14}}</ref><ref>{{Cite web|date=2021-09-09|title=Jio-BP partners with BluSmart to set up EV charging stations|url=https://www.cnbctv18.com/business/companies/jio-bp-partners-with-blusmart-to-set-up-ev-charging-stations-10673131.htm|access-date=2021-09-14|website=www.cnbctv18.com|language=en}}</ref>

On World Environment Day 2022, Tata Motors signed an MoU with BluSmart to deliver 10,000 EVs. In July 2022, BluSmart received Verra accreditation on carbon emissions.<ref>{{Cite web |last=Achary |first=Neel |title=BluSmart receives Verra accreditation on carbon emission - ET Auto |date=2021-06-05 |url=https://auto.economictimes.indiatimes.com/news/aftermarket/blusmart-receives-verra-accreditation-on-carbon-emission/93182772 |access-date=2021-09-14 |website=Business News This Week |language=en-US}}</ref>

In February 2024, BluSmart partnered with [[Tata Power]] to source clean energy for its electric vehicle charging infrastructure.<ref>{{cite news |title=BluSmart partners with Tata Power: Shifts to 100 percent renewable energy for mobility |url=https://timesofindia.indiatimes.com/auto/policy-and-industry/blusmart-partners-with-tata-power-shifts-to-100-percent-renewable-energy-for-mobility/articleshow/107916268.cms |work=The Times of India |date=22 February 2024}}</ref><ref>{{cite web |title=Tata Power |url=https://www.tatapower.com/pdf/Press%20Release%20-%20Blusmart%20collaborates%20with%20Tata%20Power%20to%20source%20green%20power-21.02.2024.pdf |website=www.tatapower.com}}</ref>

In July 2024, the company raised $24 million ({{INR}}200 crore) in a funding round led by its existing investors, Zurich-based climate finance firm [[Responsability investments|Responsability Investments]], cricketer [[MS Dhoni]]'s family office, and [[ReNew]] founder [[Sumant Sinha]].<ref>{{cite news |title=EV ride-hailing company BluSmart raises $24 million in funding |url=https://economictimes.indiatimes.com/tech/funding/ride-hailing-company-blusmart-raises-24-million-in-funding/articleshow/111749656.cms |access-date=16 April 2025 |work=The Economic Times |date=15 July 2024}}</ref>

On 15 April 2025, the [[Securities and Exchange Board of India]] (SEBI) barred the company's promoters, Anmol Singh Jaggi and Puneet Singh Jaggi, from holding directorships in the group's listed company Gensol Engineering Limited and from accessing public markets. SEBI's investigation revealed that funds from Gensol's term loans worth {{INRconvert|977|c}} raised from [[IREDA]] and [[Power Finance]] between 2021 and 2024–intended primarily for leasing 6,400 EVs to BluSmart–had been diverted and misappropriated by the Jaggi brothers. According to SEBI, only {{INRconvert|567|c}} was used for purchase of 4,704 EVs, while funds of at least {{INRconvert|400|c}} were either unaccounted for or siphoned off by the promoters. SEBI also flagged various personal expenditures made using the diverted funds, including the purchase of a luxury flat.<ref>{{cite news |last1=Adhikary |first1=Debaroti |title=Gensol and BluSmart promoter Anmol Singh Jaggi diverted EV loans to purchase a DLF Camellias flat: SEBI |url=https://www.moneycontrol.com/news/business/gensol-and-blusmart-promoter-anmol-singh-jaggi-used-loans-for-buying-evs-to-purchase-a-dlf-camellias-flat-12995674.html |access-date=16 April 2025 |work=Moneycontrol |date=16 April 2025}}</ref><ref>{{cite news |last1=Alex |first1=Riya R |title=₹50 crore DLF Camellias Gurgaon flat: Here's how Anmol Singh Jaggi used Gensol funds |url=https://www.livemint.com/companies/rs-50-crore-dlf-camellias-gurgaon-flat-heres-how-anmol-singh-jaggi-used-gensol-funds-11744775479583.html |access-date=16 April 2025 |work=Mint |date=16 April 2025}}</ref><ref>{{cite news |last1=Manchanada |first1=Kunal |title=Flat in Camellias, golf sets, and foreign trips: How Gensol's promoters siphoned funds |url=https://entrackr.com/news/flat-in-camellias-golf-sets-and-foreign-trips-how-gensols-promoters-siphoned-funds-8968118 |access-date=16 April 2025 |work=Entrackr |date=16 April 2025 |language=en}}</ref><ref>{{cite news |last1=Kumar |first1=Brajesh |title=Gensol likely to face multi-agency probe as Sebi flags fund diversion, stock manipulation |url=https://www.moneycontrol.com/news/business/markets/gensol-likely-to-face-multi-agency-probe-as-sebi-flags-fund-diversion-stock-manipulation-12996011.html |access-date=16 April 2025 |work=Moneycontrol |date=16 April 2025}}</ref><ref>{{cite web |title=SEBI Interim Order in the matter of Gensol Engineering Limited |url=https://nsearchives.nseindia.com/content/circulars/INVG67564.pdf |website=NSE |publisher=Securities and Exchange Board of India |access-date=16 April 2025}}</ref> SEBI's order came weeks after BluSmart [[Default (finance)|default]]ed on [[Bond (finance)|bond payments]],<ref>{{cite news |last1=Raghavan |first1=Ranjani |last2=Gopakumar |first2=Gopika |title=Blu Smart repays after 'default'. Now it has to convince bondholders |url=https://www.livemint.com/companies/news/blu-smart-mobility-cross-default-ncds-bondholders-cash-crunch-11740308743467.html |access-date=16 April 2025 |work=Mint |date=24 February 2025}}</ref> and Anmol Singh Jaggi emailed BluSmart employees regarding the non-payment of salaries citing financial constraints.<ref>{{cite news |last1=Florentyna |first1=Anne |title=BluSmart Delays Salaries Citing Cash Flow Issues: Report |url=https://inc42.com/buzz/blusmart-delays-salaries-citing-cash-flow-issues-report/ |access-date=16 April 2025 |work=Inc42 Media |date=10 April 2025 |language=en}}</ref>

On 17 April 2025, BluSmart suspended all ride bookings and extended the refund window for user wallet balances from 6 days to 90 days.<ref>{{cite news |last1=Mukherjee |first1=Vasudha |title=Crisis deepens at BluSmart as more directors resign amid Gensol crisis |url=https://www.business-standard.com/companies/news/gensol-crisis-ev-cab-app-blusmart-director-resignation-jaggi-sebi-order-125041800363_1.html |access-date=18 April 2025 |work=Business Standard |date=18 April 2025}}</ref> The company is now essentially defunct.<ref>{{cite news |last1=Kalra |first1=Aditya |last2=Shah |first2=Aditi Shah |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/ |access-date=11 February 2026 |publisher=Reuters |date=April 17, 2025}}</ref>

== Business model ==
BluSmart functioned on an asset-light business model.<ref>{{cite news|date=2 March 2020|title=EVReporter, 2 March 2020|agency=EVReporter|issue=Online|url=https://evreporter.com/blusmart-operations/#:~:text=BluSmart%20operates%20on%20an%20asset,and%20a%20payout%20of%20Rs.}}</ref> Cars were procured on a monthly lease from companies like EESL.<ref name="auto"/> The company's [[mobile application|app]] was used to purchase rides, similarly to [[Uber]], [[Ola Cabs]] and [[Lyft]]. The company used all-electric cars with their branding on it.{{citation needed|date=January 2022}}

== Services ==
BluSmart operated in parts of [[Delhi NCR]], [[Bangalore]], [[Mumbai]], and [[Dubai]].<ref>{{cite news|date=27 September 2022|title=EV cab provider BluSmart starts operations in Bengaluru|agency=FinancialExpress|issue=Online|url=https://www.financialexpress.com/auto/electric-vehicles/ev-cab-provider-blusmart-starts-operations-in-bengaluru/2692076/}}</ref><ref>{{cite web |title=Serviceable Regions Across Delhi NCR & Bengaluru |url=https://blu-smart.com/en-IN/rider#:~:text=Serviceable%20Regions%0AAcross%20Delhi%20NCR%20%26%20Bengaluru |website=BluSmart}}</ref><ref>{{Cite web |date=2025-01-06 |title=BluSmart expands to Mumbai, launches invite-only service - CNBC TV18 |url=https://www.cnbctv18.com/business/startup/blusmart-expands-operations-to-mumbai-19535478.htm |access-date=2025-03-26 |website=CNBCTV18 |language=en}}</ref><ref>{{Cite web |title=BluSmart launches 100% all-electric premium limousine service in UAE |url=https://www.business-standard.com/companies/news/blusmart-launches-100-all-electric-premium-limousine-service-in-uae-124060300643_1.html |archive-url=https://web.archive.org/web/20250122080741/https://www.business-standard.com/companies/news/blusmart-launches-100-all-electric-premium-limousine-service-in-uae-124060300643_1.html |archive-date=2025-01-22 |access-date=2025-03-26 |website=www.business-standard.com |language=en-US}}</ref> Users could book a cab using the [[Android (operating system)|Android]] or [[iOS]] app.<ref>{{cite news|date=14 July 2020|title=Express Drive, 14 July 2020|publisher=Financial Express|agency=Financial Express|issue=Express Drive Online|url=https://www.financialexpress.com/auto/car-news/blusmart-hourly-electric-car-rental-rs-199-in-app-wallet-contactless-payments-ev-electric-cabs/2023767/}}</ref> In June 2020, BluSmart introduced multi-hour rentals.<ref>{{Cite web|date=2020-07-14|title=BluSmart launches hourly electric car rental at Rs 199, in-app wallet for contactless payments|url=https://www.financialexpress.com/auto/car-news/blusmart-hourly-electric-car-rental-rs-199-in-app-wallet-contactless-payments-ev-electric-cabs/2023767/|access-date=2021-09-14|website=The Financial Express|language=en-US}}</ref>

In April 2021, BluSmart initiated a [[COVID-19]] vaccination drive for its drivers,<ref>{{Cite web|last=Achary|first=Neel|date=2021-04-15|title=BluSmart starts COVID-vaccination for its driver partners, Vaccination status to show on customer app|url=http://businessnewsthisweek.com/business/blusmart-starts-covid-vaccination-for-its-driver-partners-vaccination-status-to-show-on-customer-app/|access-date=2021-09-14|website=Business News This Week|language=en-US}}</ref> whose vaccination status was visible on the BluSmart mobile app.<ref>{{Cite web|date=2021-04-15|title=BluSmart starts COVID-vaccination for its driver partners, Vaccination status to show on customer app|url=http://mediabulletins.com/business-world/blusmart-starts-covid-vaccination-for-its-driver-partners-vaccination-status-to-show-on-customer-app/|access-date=2021-09-14|website=Media Bulletins|language=en-US}}</ref>

BluSmart also launched EV intercity rides from Delhi NCR to Chandigarh, Jaipur.<ref>{{Cite web |date=2022-04-06 |title=BluSmart Mobility launches EV intercity rides from Delhi NCR to Chandigarh, Jaipur |url=https://indianexpress.com/article/business/companies/blusmart-mobility-launches-ev-intercity-rides-from-delhi-ncr-to-chandigarh-jaipur-7855622/ |access-date=2022-04-11 |website=The Indian Express |language=en}}</ref>

== Challenges in growth ==
Unlike its competitors, BluSmart's expansion faced several hindrances. Because BluSmart operated on a hub-to-hub model, the lack of charging infrastructure in India and [[range anxiety]] of EVs posed serious hurdles to the company's growth. Because their cars were not driver-owned assets, high maintenance costs were thought to further complicate its scaling-up process.<ref>{{Cite web|url=https://the-ken.com/story/tata-jio-bp-supercharge-blusmart/?ref_sharecode=MTAxODk2MS0zNTg3MC0wMzA4MDA0Mi1hcHA%3D|title=Tata-Jio-BP supercharge BluSmart's expansion plans|date=3 December 2021}}</ref>

== References ==
{{reflist}}

[[Category:Taxi companies]]
[[Category:Ridesharing companies of India]]
[[Category:Indian companies established in 2019]]
[[Category:Companies based in Gurgaon]]

BluSmart - Revision history

RockyDill0015 at 07:16, 12 February 2026