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Founded
2019
Headquarters
Mumbai (India)
Status
Series A
Company Details
BluSmart is India's first and largest all-electric ride-hailing service, headquartered in Gurugram, India. Here's a comprehensive overview:
Founding and History
Founding Year: 2019 (though some sources incorrectly state 2018)
Founders: Anmol Singh Jaggi, Puneet Singh Jaggi, and Punit K Goyal.
Mission: To revolutionize urban transport by providing sustainable, reliable, and clean mobility solutions.
Business Operations
Services: Offers 100% electric ride-hailing services across Delhi-NCR, Bengaluru, and Dubai.
Fleet: Operates a fleet of 7,000 to 8,000 electric vehicles, including models like Mahindra e-Verito, Tata e-Tigor, Tata Xpres-T EV, Hyundai Kona Electric, and MG ZS Electric.
Business Model: Functions on an asset-light model, leasing vehicles from partners like EESL and high-net-worth individuals.
Partnerships and Funding
Partnerships: Collaborated with Mahindra & Mahindra, Tata Motors, and Jio-BP for EVs and charging infrastructure.
Sustainability and Impact
Carbon Savings: Saved over 4,300 tonnes of CO2 as of July 2022.
Charging Infrastructure: Set up over 4,400 EV chargers across 36 superhubs, covering 1.5 million square feet.
Market Presence and Challenges
Market Share: Holds approximately 9% of the ride-hailing market in Delhi.
Challenges: Faces hurdles due to limited EV charging infrastructure and high maintenance costs.
BluSmart is recognized for its innovative approach to sustainable mobility, offering a cleaner alternative to traditional ride-hailing services in India.
Key Metrics
Total Equity Funding
136Million
No. of Funding Rounds
14
Latest Funding Round
$8.7Million, Series A
as of December 23, 2024
Post Money Valuation
$338Million
as of N/A
Funding Multiple
2.46
as of N/A
Investors
responsAbility
and 5 moreEmployee Count
1200
Similar Companies
Hala Mobility
Exit Details
-
All Funding Rounds
| Date | Round Name | Amount | Valuation | Revenue | Revenue Multiple | Investors |
|---|---|---|---|---|---|---|
| December 23, 2024 | Series A | $8.7Million | - | - | - | Anca International, Svg Trust, CHL, Kochi Holdings, Hyderabad Angels ,Agra Gwalior Pathways, Badulipar, Mlm Ventures, Safe Enterprise Retail Technologies, Vaillant Capital Partners, Clarity Health, Kochi Holdings |
| May 31, 2024 | Series A | $24.0Million | - | - | - | responsAbility, MS Dhoni Family Office, Global Founders Capital, Hyderabad Angels, Kochi Holdings, Asia Climate Partners, VSS, Mirage Consulting ,Praescio Ventures, Shalini Fertilisers, Mehta Group, Arati Infratech, Safe Enterprise Retail Technologies, SoftBank Group, Vaillant Capital Partners, Renone Consultancy, Absolute Returns Scheme, Midas Deals, TGAS Consultancy, Baidtechventures, Clarity Health, Praescio Ventures, Kochi Holdings |
| January 29, 2024 | Series A | $5.0Million | - | - | - | responsAbility |
| April 20, 2023 | Series A | $24.8Million | - | - | - | We Founder Circle, Mayfield, Survam Partners, Global Founders Capital, Inflection Point Ventures, First Port Capital, Hyderabad Angels, LC Ventures, KiaOra Ventures, Kochi Holdings, Logistics Fund India, Thirteen Initiatives, Angel Scions, V m Spice, GJNX Ventures, Chhattisgarh Investments, 100Unicorns ,BP Ventures, LetsVenture, Iiflwealthprime, Praescio Ventures, Uthishtaa Solutions, Zenith Group, Premier Financial Services, F Smart Network, Subham Capital, BSL Scaffolding, TGaS, Shalini Fertilisers, Jain Ace Advisors, Signoff Semiconductors, Mehta Group, Rosebay Consulting, Medi Sales, Arati Infratech, Risewell Housing, IIFL Wealth, Praescio Ventures |
| February 21, 2023 | Series A | $37.0Million | - | $8.2Million | - | Survam Partners, Mayfield, Green Frontier Capital, Alteria Capital, Chhattisgarh Investments, Hyderabad Angels, KiaOra Ventures, Agarwal Finestate, V m Spice, We Founder Circle, 100Unicorns |
| December 24, 2022 | Series A | Undisclosed | - | $6.9Million | - | GetVantage |
| March 31, 2022 | Series A | $15.2Million | - | $1.1Million | - | Global Founders Capital, Green Frontier Capital, Mayfield, Survam Partners, We Founder Circle, Z Nation Lab, Kalpavriksh Fund, Alteria Capital, Trifecta Capital, Mumbai Angels, Agarwal Finestate, Kochi Holdings, Vista Business Ventures, Logistics Fund India, 100Unicorns |
| August 12, 2021 | Series A | $26.2Million | - | $1.2Million | - | BP Ventures, Z Nation Lab, Alteria Capital, Mayfield, Survam Partners, Thirteen Initiatives, Kalpavriksh Fund, Hyderabad Angels, KiaOra Ventures, Salil Chakrabarty Innovation Holdings, Mumbai Angels, Vista Business Ventures, Chhattisgarh Investments, 100Unicorns, Real Time Accelerator Fund |
| February 22, 2020 | Seed | $7.4Million | - | $546.0K | - | Survam Partners, Mumbai Angels, Inflection Point Ventures, Venture Catalysts, Kalpavriksh Fund, Faad Capital, KiaOra Ventures, Kochi Holdings, Vista Business Ventures, Kolte Patil Family Office, Thirteen Initiatives, Chhattisgarh Investments, V m Spice, Amk Trust |
| May 24, 2019 | Seed | $3.0Million | - | $191.0K | - | Mayfield, Kalpavriksh Fund, KA Enterprises, Ka Innovations, Survam Partners, V m Spice, Icebreaker Tech, Fundamental |