Ride & Mobility
BluSmart’s role in India’s electric mobility ecosystem
Founded in 2019 by Anmol Jaggi, Puneet Singh, and Punit Goyal, BluSmart is a 100% electric ride-hailing service with operations in Delhi-NCR, Bengaluru, and Dubai. Unlike the giants Uber and Ola, BluSmart is laser-focused on electric vehicles (EVs).
The company is endeavouring to replace fuel-guzzling taxis with zero-emission vehicles, making every ride a step toward a greener, more reliable future.
Market share
It currently holds an approximate 9% market share in Delhi’s ride-hailing sector.
Source: News articles
In the larger scheme, when we look at some other pure electric players in the ride-hailing peers, Blusmart’s market share looks more impressive.
Source: tracxn.com; latest available data
BluSmart’s business model
BluSmart operates on a business-to-consumer (B2C) model, offering ride-hailing services directly to customers.
BluSmart’s revenue model is pretty straightforward and covers two main areas: electric taxis and charging stations. Their primary income comes from customer rides.
The vehicles are sourced from partners like EESL (Energy Efficiency Services Limited), a government enterprise, and high-net-worth individuals. Their fleet includes a range of popular electric vehicle models:
- Mahindra e-Verito
- Tata e-Tigor
- Tata Xpres-T EV
- Hyundai Kona Electric
- MG ZS Electric
But here’s where it gets interesting— BluSmart also integrates charging stations into its operations, not only to keep its own fleet running smoothly but also to offer charging services to other EV owners.
Unlike other ride-hailing services such as Uber and Ola, BluSmart employs salaried drivers. This ensures a consistent and professional service, as drivers are directly accountable to the company rather than operating as independent contractors.
Fleet size and charging hubs
BluSmart’s fleet has now expanded to 7,000-8,000 EVs. If you’re in Delhi-NCR or Bengaluru, you’ve probably seen their sleek, zero-emission cars on the roads.
They’ve set up 4,400 EV chargers across 36 superhubs, covering 1.5 million square feet in these cities.
Key competitors
Besides Uber and Ola’s ICE offerings, BluSmart also competes against:
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Uber Green: Uber’s electric ride-hailing service, is rapidly expanding across major Indian cities.
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Ola: India’s largest ride-hailing platform, making significant investments in electric mobility to transition its fleet towards sustainability.
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Euler Motors: A commercial EV manufacturer with a focus on logistics and last-mile delivery, indirectly competing in the mobility space.
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Zypp Electric: A startup providing electric two- and three-wheelers for delivery services and personal transport.
What’s the price tag?
Here’s where things get interesting. A trip from Bangalore airport to Indiranagar Police Station, one of Bangalore’s most happening areas with BluSmart premium costs around ₹1,532. Compare that to Ola prime ₹912 or Uber premier ₹1100. Sure, it’s a bit pricier, but you’re paying for more than just a ride.
This is also reflected in the average gross fare per trip for these companies. BluSmart has guided that it is aiming to increase these fares to ₹561 in FY25 (up 20% YoY)
Source: arcweb.com; data as of FY24
So wait, is BluSmart costlier? Yes. But hey, this is what you get by paying the premium
Looking ahead: expansion and growth
What’s next for BluSmart? Expansion, of course! With Delhi-NCR and Bengaluru already covered, they’re setting their sights on Mumbai by the end of the year. It’s a smart move considering that 68% of India’s mobility market is concentrated in these three cities.
Funding and growth trajectory
As of FY25, the company reported a 77% year-on-year growth in Gross Merchandise Value (GMV), reaching ₹275 crore in the first half of FY25.
BluSmart has attracted notable investors, including Swiss impact investor responsAbility and BP Ventures. its recent funding rounds include:
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Bridge Round: $42 million, led by BP Ventures and responsAbility.
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Pre-Series B Round: $24 million, with contributions from cricketer MS Dhoni and Green Frontier Capital.
Meet the founders
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Anmol Singh Jaggi is also the co-founder of the Gensol Group, which operates in 14 countries, and holds a BTech in Energy Studies.
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Puneet Singh is a seasoned entrepreneur with extensive expertise in renewable energy. He is the co-founder of Gensol Group and serves as a Director at Solarig Gensol Utilities, a JV between Solarig (Spain) and Gensol (India).
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Punit K Goyal founded PLG Power Limited and PLG Clean Energy Projects. He is an active speaker at CII and IIT events and serves as the Chairman of the Confederation of Indian Industry (CII).
Financials
They also saw their gross revenue increase by 135% from ₹160 crore in FY23 to ₹376 crore in FY24. As can be seen below there has been an increase in their revenue boasting a CAGR of 209% over 4 years.
Source: tracxn.com; latest available data
Their losses have been increasing steadily due to significant rises in expenses. However, they continue to push forward with their innovative and expansion plans, which could pay off in the future. They are expecting to turn profitable on an EBITA level by March 2026, as previously mentioned by Punit K Goyal in an interview.
Source: tracxn.com
Challenges facing BluSmart
While BluSmart has made significant progress, it faces several challenges:
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Scaling the fleet
The availability of EV and charging infrastructure limits the company’s ability to scale rapidly. Demand often outpaces supply, leading to delayed services during peak hours. -
High capital requirements
Expanding operations, and building charging infrastructure requires significant capital investment. -
Competition
Ola and Uber are intensifying their focus on electric mobility with initiatives like Uber Green, posing a direct challenge to BluSmart.
Euler Motors and Zypp Electric are also expanding in the electric logistics and ride-hailing segments, increasing competition.
Conclusion
At its core, BluSmart isn’t just about getting people from point A to point B. It’s about creating a future where mobility is clean, reliable, and accessible. With a focus on sustainability and customer experience, BluSmart is leading the charge—literally—towards a greener India.
Disclaimer: This article is for informational purposes only and must not be considered investment advice. Investors should consult with experts before making any investment decisions.
Ride & Mobility
Uber and Baidu partner to launch autonomous ride-hailing in global markets
Uber Technologies Inc. and Baidu Inc. have announced a multi-year strategic partnership to deploy autonomous vehicles (AVs) across selected global markets outside the United States and mainland China.
The agreement will see Baidu’s Apollo Go driverless vehicles integrated into the Uber platform, with initial operations expected to begin in Asia and the Middle East later this year.
The partnership aims to enhance ride-hailing services by expanding the availability of autonomous mobility solutions through Uber’s platform.
The collaboration is designed to increase the supply of affordable and reliable rides by supplementing existing transport networks with advanced driverless technology.
Under the terms of the agreement, users requesting eligible Uber trips may be offered the option to travel in a fully autonomous Apollo Go vehicle.
READ MORE: UK DfT fast-tracks self-driving pilots
This marks a significant step in the commercial deployment of AVs beyond pilot programmes and limited urban trials.
Apollo Go currently operates more than 1,000 fully autonomous vehicles and has established a presence in 15 cities worldwide, including Dubai and Abu Dhabi.
As of May 2025, Baidu reports that Apollo Go has provided over 11 million autonomous rides to the public, making it the most widely used driverless ride-hailing service globally by volume.
Co-founder, chairman, and CEO of Baidu, Robin Li, said: “We are committed to bringing the benefit of autonomous driving technology to more people in more markets, and this partnership with Uber represents a major milestone in deploying our technology on a global scale.
“We look forward to working with Uber to deliver safe and efficient autonomous mobility solutions to riders around the world.”
Achievements and innovations in connected autonomous vehicles will be recognised and celebrated at the fourth annual CiTTi Awards on 25 November 2025 at De Vere Grand Connaught Rooms in London. Visit www.cittiawards.co.uk to learn more about this unmissable event for the UK’s transportation sector!
Ride & Mobility
Kakao Mobility pursues Waymo, Baidu partnerships for driverless taxis
A Kakao Mobility self-driving car is being tested in the Pangyo area of Seongnam, Gyeonggi. [KAKAO MOBILITY]
Kakao Mobility, Korea’s top ride-hailing platform operator, is reportedly in talks with global autonomous vehicle leaders to launch a self-driving taxi service in Korea.
Kakao Mobility is pursuing partnerships with the U.S.-based Waymo and China’s Baidu to bring autonomous taxis, also known as robotaxis, to the domestic market through its Kakao T platform, which currently holds over 90 percent of Korea’s taxi-hailing market, according to industry sources and the Ministry of Land, Infrastructure and Transport on Friday.
If these collaborations are finalized and relevant regulatory frameworks are established, Korean users may be able to summon Waymo or Baidu robotaxis via Kakao Mobility’s platform.
The two companies are recognized as leaders in autonomous driving technology. In a March report by global market research firm Guidehouse, Waymo ranked first and Baidu second in autonomous vehicle technology.
“Both companies already operate fully autonomous taxi services — without safety drivers — in urban centers in the United States and China,” an industry official said. “They are widely considered front-runners in autonomous driving with a significant technological lead over competitors.”
Should these robotaxis be introduced to Korea, they would undergo adjustments to meet the country’s road conditions and traffic systems before being deployed for public service.
A Waymo robotaxi seen on a road in San Francisco, California on Oct. 11, 2024 [YONHAP]
Kakao Mobility hopes the vehicles will help accelerate the accumulation of real-world driving data and spur domestic development in the autonomous vehicle sector.
“Rapid progress in autonomous technology requires continuous learning through on-road data,” one automotive expert explained. “Waymo and Baidu have proven the safety of their vehicles in real traffic environments and continue to collect valuable driving data.”
However, even if agreements are reached, significant legal and logistical hurdles remain. Under current Korean law, fully driverless vehicles are not permitted on public roads. Operational areas for autonomous vehicles are also limited.
Expanding to the level of widespread robotaxi deployment seen in parts of the United States and China will take time and require cooperation with Korea’s taxi industry.
“We are in discussions with several leading domestic and international companies regarding service collaborations,” said Kakao Mobility. “However, as talks are ongoing, no specific details or finalized agreements can be disclosed at this time.”
Baidu’s robotaxi RT6, currently in operation in Wuhan, China and other areas, is seen in this photo provided by the company. [BAIDU]
Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY YUN JUNG-MIN [[email protected]]
Ride & Mobility
Bolt launches Family Profile in Nigeria to simplify shared rides – Innovation Village
Ride-hailing company Bolt has unveiled a new Family Profile feature in Nigeria, aimed at transforming how families and small support networks coordinate transportation. This new addition enables a single user to manage and pay for rides on behalf of up to nine other people—all within one Bolt account. The move marks a significant shift toward inclusive mobility solutions in a market characterized by communal living and informal ride coordination.
While Bolt is not the first to launch such a feature—Uber pioneered the concept in the ride-hailing space—the platform is strategically adapting the idea to meet Nigeria’s unique mobility dynamics, where multi-generational households are common and transportation responsibilities are often shared among family members.
With the new Family Profile, users can add multiple individuals to a shared account, set monthly ride budgets, and receive real-time notifications about trips. This eliminates the need for constant coordination over phone calls or text messages, which, according to Bolt’s internal data, previously characterized around 2–6% of all rides in Nigeria. These trips often required the payer to relay driver details, track trip progress manually, and resolve post-ride payment concerns—an inefficient and often frustrating process.
Now, riders under the Family Profile can independently request trips through their own Bolt app, while the primary account holder retains complete financial oversight and visibility into ride histories and expenditures. The launch of this feature is part of Bolt’s broader strategy to localize its services and address real-world challenges faced by Nigerian users. For families with elderly members or relatives who may not be tech-savvy, the Family Profile offers a convenient way to ensure safe and reliable transportation without requiring them to navigate the app independently.
“At Bolt, we want to make ride-hailing work for the way people actually move,” said Osi Oguah, Country Manager for Bolt Nigeria. “Family Profile is a simple but powerful way to support others—whether it’s aging parents, adult children, or household staff—without the stress of managing every trip manually. It’s about offering control, visibility, and convenience in one seamless experience.”
The Family Profile maintains Bolt’s strict safety protocols. All added members must be at least 18 years old and possess verified Bolt accounts. The company has clarified that rides cannot be booked for unaccompanied minors, citing legal and safety reasons. However, the feature remains ideal for scheduling transportation for older adults or coordinating rides for family members with limited digital literacy.
This update builds on Bolt’s existing in-app safety features such as trip verification codes, live location sharing, real-time ride monitoring, and emergency assistance options—tools designed to reassure users in an increasingly safety-conscious market.
Bolt’s launch of the Family Profile also comes shortly after reporting a 42% drop in offline (untracked) rides over the past three months, a sign that users are increasingly turning to digital tools for secure and transparent transportation. By integrating family-focused features, Bolt reinforces its ambition to lead the ride-hailing industry in both safety and user empowerment.
The rollout of Family Profile is not just a feature upgrade; it’s a strategic evolution of Bolt’s services, grounded in the everyday realities of Nigerian households. As mobility continues to digitize across the country, innovations like this are likely to play a crucial role in shaping how families move together—safely, efficiently, and with greater peace of mind.
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