BluSmart Surpasses INR 500 Crore Annual Run Rate, Accelerating India’s Electric Mobility Transition

Apr 30, 2024 Mark

Apr 30, 2024: BluSmart, India’s leading eMobility ride-hailing service and EV Charging Infrastructure network, has achieved a significant milestone by crossing an Annual Run Rate (ARR) of INR 500 Crore ($60 Million), marking a remarkable 102% growth over the previous year.

The company’s gross business value (GBV) has experienced extraordinary growth, boasting a Compound Annual Growth Rate (CAGR) of 300% over the last three years. This growth underscores BluSmart’s commitment to reliability, safety, and sustainability, reflected in its industry-leading offerings such as zero cancellations, on-time arrivals, and zero-emission cabs.

With a mission to “Decarbonise Mobility at Scale,” BluSmart has pioneered a “born electric, full stack, vertically integrated” business model, managing and operating its EV fleet and Charging Infrastructure at scale. The company boasts the largest EV fleet in South Asia, comprising over 7,300 EVs, which have collectively covered approximately 460 million clean kilometers, saving 34 million kgs of CO2 emissions.

BluSmart’s charging network has also witnessed substantial growth, expanding across prime locations in Delhi NCR and Bengaluru. Earlier this year, BluSmart achieved a significant milestone by becoming the first mobility player in India to attain 100% emissions-free status through its efforts to source 100% green energy.

Since its establishment in 2019, BluSmart has steadily expanded its fleet size and customer base, prioritising reliability and quality of rides. Starting from a few pin codes in Gurgaon, BluSmart has now established a loyal customer base in Delhi NCR and Bangalore, with plans to further expand its operations.

Commenting on the company’s growth trajectory, Anmol Singh Jaggi, Co-founder of BluSmart, expressed enthusiasm, stating, “BluSmart’s achievement of crossing INR 500 Crore ($60 Million) in Annual Run Rate marks a pivotal moment in our journey. We remain committed to building a fully integrated energy-infrastructure, mobility, and technology business, addressing the rising demand for sustainable mobility solutions and fostering a greener, more sustainable future.”

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