BluSmart

Last updated

BluSmart Mobility
Company type Private
Industry
FoundedJanuary 2019;5 years ago (2019-01)
Founder
  • Anmol Singh Jaggi
  • Punit K Goyal
  • Puneet Singh Jaggi
Headquarters Gurugram, Haryana, India
Area served
India
Services
Website www.blu-smart.com

BluSmart Mobility is an Indian ride-sharing company, headquartered in Gurugram, India. [1] [2] It was founded by Anmol Singh Jaggi, Punit K Goyal and Puneet Singh Jaggi in 2019. [3] As of 2022, the company's fleet of vehicles includes the Mahindra e-Verito, Tata e-Tigor, Tata Xpres-T EV, Hyundai Kona Electric and MG ZS Electric. It is India's first all-electric shared smart mobility platform.

Contents

The company competes with Uber and Ola, as well as new entrants like Rapido and Namma Yatri in the cab-hailing space.

The company has raised $24 million, or Rs 200 crore, in a funding round led by its existing investors Zurich-based climate finance firm ResponsAbility Investments, cricketer MS Dhoni’s Family Office, and ReNew founder Sumant Sinha.

History

BluSmart was co-founded on 14 January 2019 [4] by Anmol Singh Jaggi, Puneet Singh Jaggi, and Punit K Goyal. In the same month, BluSmart partnered with Mahindra & Mahindra [5] 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 US$3 million. [6] [7]

As of July 2022, the company announced it had saved 4300 plus tonnes of CO2 over 1.8 million rides in Delhi NCR. [8] [9] On World EV Day 2021, BluSmart announced a partnership with Jio-BP [10] to set up charging infrastructure across India. [11] [12]

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.

The company is committed to sustainability and has partnered with Tata Power to source clean energy for its electric vehicle charging infrastructure. This partnership helps to reduce greenhouse gas emissions and improve air quality in Indian cities. [13] [14]

Business model

BluSmart functions on an asset-light business model. [15] Cars are procured on a monthly lease from companies like EESL. [2] The company's mobile application can be used to purchase rides that are similar to Uber, Ola Cabs and Lyft. The company uses all-electric cars with their branding on it.[ citation needed ]

Services

BluSmart operates in parts of- Delhi NCR and Bangalore. [16] [17] Users can book a cab using the Android or iOS Mobile App. [18] In June 2020, BluSmart also introduced imulti-hour rentals. [19]

In April 2021, BluSmart initiated a COVID-19 vaccination drive for its drivers, [20] whose vaccination status is visible on the BluSmart mobile app. [21]

BluSmart also launched EV intercity rides from Delhi NCR to Chandigarh, Jaipur. [22]

Challenges in growth

Unlike its competitors, BluSmart's expansion faces several hindrances. Because BluSmart operates on a hub-to-hub model, the lack of charging infrastructure in India and range anxiety of EVs poses serious hurdles to the company's growth. Because their cars are not driver-owned assets, high maintenance costs might further complicate its scaling-up process. [23]

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References

  1. ↑ "BluSmart - India's first all-electric vehicle mobility platform". EV Duniya. 17 November 2020. Retrieved 19 December 2021.
  2. 1 2 "Financial Express, 2 July 2020". No. Web. Financial Express. 2 July 2020.
  3. ↑ "Times of India 25 June 2019". Times of India. Times of India. 25 June 2019.
  4. ↑ "NDTV Car&Bike, 14 January 2029". No. Web. CAR&BIKE. NDTV. 14 January 2019.
  5. ↑ "Times Now, 4th June, 2019". No. Digital. Times Now. 4 June 2019.
  6. ↑ "Inc42 24 September, 2019". Inc42. Inc42. 24 September 2019.
  7. ↑ "Mint, 23 September 2019". No. Online. Mint. 23 September 2019.
  8. ↑ "Electric Ride-Hailing Platform BluSmart Completes 16 Million Emissions-Free Km In Delhi-NCR". www.worldnews.easybranches.com. Retrieved 14 September 2021.
  9. ↑ Achary, Neel (5 June 2021). "BluSmart receives Verra accreditation on carbon emission - ET Auto". Business News This Week. Retrieved 14 September 2021.
  10. ↑ Pathak, Kalpana (9 September 2021). "Jio-bp partners with BluSmart to set up EV charging infrastructure in India". mint. Retrieved 14 September 2021.
  11. ↑ Mukul, Jyoti (9 September 2021). "Jio-bp partners with BluSmart to set up EV charging infra in India". Business Standard India. Retrieved 14 September 2021.
  12. ↑ "Jio-BP partners with BluSmart to set up EV charging stations". www.cnbctv18.com. 9 September 2021. Retrieved 14 September 2021.
  13. ↑ "BluSmart partners with Tata Power: Shifts to 100 percent renewable energy for mobility". The Times of India. 22 February 2024.
  14. ↑ "Tata Power" (PDF). www.tatapower.com.
  15. ↑ "EVReporter, 2 March 2020". No. Online. EVReporter. 2 March 2020.
  16. ↑ "EV cab provider BluSmart starts operations in Bengaluru". No. Online. FinancialExpress. 27 September 2022.
  17. ↑ "Serviceable Regions Across Delhi NCR & Bengaluru". BluSmart.
  18. ↑ "Express Drive, 14 July 2020". No. Express Drive Online. Financial Express. Financial Express. 14 July 2020.
  19. ↑ "BluSmart launches hourly electric car rental at Rs 199, in-app wallet for contactless payments". The Financial Express. 14 July 2020. Retrieved 14 September 2021.
  20. ↑ Achary, Neel (15 April 2021). "BluSmart starts COVID-vaccination for its driver partners, Vaccination status to show on customer app". Business News This Week. Retrieved 14 September 2021.
  21. ↑ "BluSmart starts COVID-vaccination for its driver partners, Vaccination status to show on customer app". Media Bulletins. 15 April 2021. Retrieved 14 September 2021.
  22. ↑ "BluSmart Mobility launches EV intercity rides from Delhi NCR to Chandigarh, Jaipur". The Indian Express. 6 April 2022. Retrieved 11 April 2022.
  23. ↑ "Tata-Jio-BP supercharge BluSmart's expansion plans". 3 December 2021.
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