BluSmart Mobility

What BluSmart Mobility does

BluSmart Mobility was an Indian all-electric ride-hailing platform founded in 2019 and headquartered in Delhi NCR, operating India's first fully electric taxi service. The company operated a vertically integrated model combining a consumer-facing mobile app (with an integrated prepaid digital wallet) for booking premium EV rides, a proprietary EV fleet that scaled to 7,500+ vehicles, and a parallel charging infrastructure network of 4,400-5,000+ EV chargers, including a 1.2 MW solar microgrid facility in Gurugram developed in partnership with HAREDA. Primary operations were concentrated in Delhi-NCR and Bengaluru, with a planned launch in Dubai in June 2024 marking its first international expansion.

Revenue was generated transactionally from per-ride fares collected via the app/wallet, with secondary income from the charging infrastructure asset. The company raised over $180 million across multiple rounds (Series A $25M led by BP Ventures in 2021, Series A2 $42M in 2023, a $75M loan from Power Finance Corporation in 2023, and a $24M Pre-Series B in 2024), achieved a peak valuation of nearly $335 million, and reached approximately ₹550 crore ($66M) in ARR at peak.

Operations were suspended in February 2025 following material cash burn exceeding ₹20 crore monthly and governance/fund-diversion allegations involving co-founders Anmol and Punit Singh Jaggi through related entity Gensol Engineering. The NCLT admitted an insolvency case against the legal entity Blu-Smart Mobility Tech in October 2025; SEBI barred the co-founders from securities markets, the Enforcement Directorate attached ₹87.41 crore in assets, and ICAI advanced a disciplinary inquiry. By June 2026, Voler Car Ltd emerged as the highest bidder for BluSmart's assets in the ongoing IBC resolution.

Name

BluSmart Mobility

Legal name

Blu-Smart Mobility Tech

Website

https://blu-smart.com

Company type

Private

Founded year

2019

Operating status

Closed

Headcount range

501–1,000 employees

Short description

BluSmart Mobility was India's first all-electric ride-hailing service, operating a 7,500+ vehicle EV fleet with a proprietary charging network across Delhi-NCR and Bengaluru. The venture-backed company suspended operations in February 2025 and entered insolvency in October 2025.

Ownership category

akta.pro rank

Product category

Electric Ride-Hailing Services

NAICS

Taxi and Ridesharing Services (485310), Passenger Car Rental and Leasing (53211)

SIC

Transportation Services (4700), Electric & Other Services Combined (4931)

akta.pro primary industry

EV Ride-Hailing / Chauffeur Services (EV-Only Fleets) (THADANAG)

akta.pro secondary industries

Passenger Vehicle Leasing & Long-Term Rental (Cars/SUVs) (TLABAHAA), EV Charging Network Management & Software Services (CPMS, Monitoring, Billing) (TLAKAMAG), Managed EV Charging Software (Residential, Fleet, Workplace) (EUAFAMAA)

Keywords

• Electric ride-hailing
• EV fleet operations
• EV charging infrastructure
• Sustainable urban mobility
• App-based taxi service

Headquarters

HQ city

Ahmedabad

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. Ride-hailing services: Transaction-based revenue from providing electric vehicle taxi rides to consumers through a mobile app. Customers preloaded funds into digital wallets for rides.
2. EV charging infrastructure: Revenue generated from operating EV charging stations, though primarily served internal fleet needs rather than third-party charging

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

BluSmart Mobility operated an all-electric ride-hailing service through a mobile app, providing premium EV taxi rides to urban commuters in Delhi-NCR and Bengaluru. The service was backed by an integrated EV charging network of over 4,400 chargers and a 1.2 MW solar microgrid charging facility, enabling the company to own and operate its own EV fleet rather than relying on third-party drivers. Customers prepaid funds into an in-app digital wallet for transactions.

Product overview

BluSmart Mobility operated as an integrated all-electric ride-hailing platform combining a consumer-facing taxi service app with proprietary EV charging infrastructure. The core product was the BluSmart EV Ride-Hailing Service, supported by an extensive network of EV charging stations across Indian cities. The company also offered a digital wallet feature for customer payments. The platform operated primarily in Delhi-NCR and Bengaluru before the company's shutdown in early 2025 following financial and governance issues.

Differentiator

Problem solved

Functional benefit

Products and services

• BluSmart EV Ride-Hailing Service All-electric ride-hailing service operating in Delhi-NCR and Bengaluru, providing premium EV taxi services booked through a mobile application for urban commuters. The service was India's first all-electric taxi platform and was supported by the company's proprietary charging infrastructure.
• BluSmart EV Charging Infrastructure Network Network of over 4,400 EV chargers, plus a 1.2 MW solar microgrid charging station, operated to power the company's ride-hailing fleet. The infrastructure became a key asset in insolvency proceedings, attracting bids from Eversource Capital, Refex Mobility, and Voler Car.

Quantifiable outcome

• ₹550 crore+ ARR achieved before collapse
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Voler Car LtdcoreOthers · 10 June 2026Kolkata-based Voler Car emerged as the highest bidder for BluSmart in ongoing insolvency proceedings following an auction on June 10, 2026. The acquisition aims to leverage BluSmart's EV charging network and platform.
• Refex MobilityminorOthers · 19 April 2026Refex Mobility, led by former BluSmart CEO Anirudh Arun, attempted to acquire BluSmart's assets including charging stations and technology as part of the insolvency resolution process.
• Eversource CapitalminorOthers · 5 March 2026Eversource Capital showed interest in acquiring BluSmart's assets to expand into consumer mobility through the company's charging infrastructure network of over 5,000 charging stations.
• HAREDA (Haryana Renewable Energy Development Agency)minorStrategic or Co-development Partner · 30 January 2026BluSmart partnered with HAREDA to deploy a 1.2 MW solar microgrid charging station in Gurugram, demonstrating collaboration with government renewable energy agencies.

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Ola (ANI Technologies): Ola is India's largest ride-hailing platform and BluSmart's primary direct competitor in Delhi-NCR and Bengaluru, targeting the same urban commuter segment with a mix of EVs and ICE vehicles. BluSmart explicitly positioned itself as the premium EV alternative to Ola.
• Rapido: Indian ride-hailing competitor with a strong bike-taxi base expanding into auto and cab services. Competes with BluSmart for urban commuter share-of-wallet in Indian metro cities.
• Lithium Urban Technologies: India's earliest large-scale EV corporate fleet operator and a direct comparable in the EV fleet/mobility space. Eversource Capital specifically proposed merging BluSmart with Lithium Urban Technologies during the failed 2025 acquisition talks.
• Everest Fleet: Indian corporate and Uber-leasing fleet operator managing thousands of vehicles, with growing EV exposure. Comparable to BluSmart in fleet-leasing structure and driver-partner model, though focused on Uber integration rather than proprietary ride-hailing.

Broad incumbents

• Uber India: Global ride-hailing incumbent with strong Indian operations; BluSmart was actively planning a pivot to become an Uber fleet partner with 700-800 cars, indicating direct operational overlap in the same metropolitan markets.

Emerging players

• Namma Yatri: Open-source ride-hailing platform backed by ONDC focused on auto-rickshaw and cab services in India. Represents the new generation of India-focused ride-hailing challengers competing in the same metropolitan commuter market.
• Refex Mobility: Mobility arm of Refex Group led by BluSmart's former CEO Anirudh Arun; actively bidding to acquire BluSmart's charging and technology assets in insolvency. Closely tied to BluSmart's operations and a direct peer in EV fleet and charging.
• Voler Car: Kolkata-based EV mobility company that emerged as the highest bidder for BluSmart in the June 2026 insolvency auction, positioning it as a direct successor peer with access to BluSmart's charging network and platform.

Others

• Eversource Capital: Green-focused infrastructure investor that bid ~₹8-10 billion for BluSmart assets to merge with Lithium Urban Technologies. Functions as both a potential acquirer and a strategic investor in India's EV charging build-out.

Regional players

• Meru Cabs: India-based premium taxi service historically focused on airport and corporate transfers, comparable to BluSmart's premium positioning in metro markets before its collapse.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/blusmartindia
• Facebookfacebook.com/blusmartindia
• LinkedInlinkedin.com/company/blu-smart-mobility

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds13 records

Investors40 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BluSmart Mobility