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India's leading EV ride-hailer BluSmart is accelerating its growth! BluSmart is set to raise $300M to supercharge its fleet expansion. Here are the key highlights: -$300M Fundraising Goal: Ambitious target to lead the EV ride-hailing market. -Fleet Growth: Plans to significantly increase the number of EVs. -Environmental Impact: Aims to cut urban pollution and reduce carbon footprint. Interesting Facts: -Leasing Model: BluSmart leases its fleet, minimizing upfront costs and allowing rapid scale-up. -VC Valuation Insight: Investors focus on market disruption potential and growth prospects rather than just asset ownership. Recent trends in the EV space reinforce this confidence. Zypp Electric recently raised $15M to expand its fleet of electric scooters. At the same time, Euler Motors secured an additional $24M in a Series C round to enhance its pan-India presence and service infrastructure. These investments highlight the growing faith in sustainable transportation solutions. BluSmart is driving the future of urban mobility, setting new benchmarks for green transportation. Here’s to a greener, smarter future with BluSmart leading the charge! #India #innovation #startup #EV #GreenMobility

With it's latest $24 million Pre-series B funding raise, this is how BluSmart is Leading the Charge in Sustainable Urban Mobility in India and beyond! 🚀 🚙 BluSmart, India's pioneering electric ride-hailing startup founded in 2019 by Anmol Jaggi, Punit K Goyal, Puneet Jaggi, is on a mission to revolutionize urban transportation with a 100% electric fleet. BluSmart's vision is to transform urban India into a hub of sustainable, efficient, and intelligent mobility solutions. It is committed to providing a zero-emission ride-hailing service that is safe, reliable, and affordable. Recent Milestones: 🌍 International Expansion: Recently, BluSmart launched its first international operations in Dubai under the #RideSmartDubai campaign. The premium fleet of Audi e-tron vehicles is set to offer luxurious and eco-friendly rides to customers in the UAE. This marks a significant step in our journey to bring sustainable mobility solutions to a global audience. 💰 Pre-Series B Funding: BluSmart has raised $24 million in a pre-Series B funding round. This round was led by responsAbility Investments AG, with participation from Sumant Sinha, MS Dhoni's family office, and existing investors. This funding will be instrumental in expanding BLSmart's EV fleet and charging infrastructure across major Indian cities. 📈 Financial Growth: BluSmart has crossed an annualized revenue run-rate (ARR) of ₹550 crore ($66 million) and posted over ₹390 crore ($47 million) in revenue for FY24. It is are on track to achieve ₹800 crore ($96 million) in revenue by FY25. While the company is focused on growth, it aims to achieve EBITDA profitability by March 2026. What Makes BluSmart Special: - Sustainability: With a fleet of over 7,500 electric vehicles, BluSmart is dedicated to reducing carbon emissions and promoting clean energy. - Innovation: The platform leverages AI and machine learning to provide personalized ride experiences and optimize fleet management. - Customer-Centric: It prioritize safety and reliability, employing drivers with fixed salaries and performance-based incentives to ensure the best service for our customers. With its innovative business model, strategic partnerships, and commitment to environmental stewardship, BluSmart is redefining the ride-hailing industry, one electric vehicle at a time. #BluSmart #ElectricVehicles #Sustainability #Dubai #India #Startups #UrbanMobility *** Enjoy this? Share it with your network and follow me Vaibhav Sharma for more in future! I write about interesting businesses, entrepreneurs, and high performance. Join my inner circle here: https://lnkd.in/gZKZ_Zdb

In 2024, BluSmart, India’s first all-electric ride-hailing platform, is raising $80-$100 million from private equity funds and climate-focused investors. Here is what the numbers say – with over 7,600 electric vehicles and 3,900 charging stations, BluSmart is quietly becoming a massive player in the EV space. BluSmart’s revenue run rate has surged to ₹550 crore annually, growing 4x in less than two years. While Uber and Ola Electric struggle with rising fuel costs, BluSmart's asset-light model, leasing cars instead of owning them, has reduced its capital expenditure by 30%. In June, BluSmart made an international leap, launching an all-electric limousine service in Dubai, proving that they’re not just here for India—they’re going global. This upcoming $100 million fundraise? It will fuel expansion into more cities and build an even larger EV charging infrastructure, setting the stage for a future where BluSmart dominates sustainable urban mobility. BluSmart is rewriting the script for ride-sharing, where clean energy and profit go hand in hand. #Startups #VentureCapital #Automobiles

Is #Blue the new #Green? INR 200 Crore (~USD 25Million)! Its raining green on this blue #Startup! Last week we covered some of the top #EV startups in #India and promised to cover their stories. Keeping up our promise, here is one of the most exciting and revolutionary startups, not just in India but probably the world! Let's start with some personal experience. The first time we tried BluSmart was probably back in 2020, right after the #Covid19 lockdown was being lifted. It was the first time we saw transparent sheets placed between the driver and passenger seats for preventing any spread of infections. No company could highlight #care so well as #BluSmart did. #Care for the environment, #care for the passengers and #care for their drivers! Punit K Goyal, a serial #entrepreneur with a history in founding #solar energy startups, started #BluSmart in 2019, India's first all-electric smart mobility platform along with Anmol Jaggi and Puneet Jaggi. His experience in the renewable energy sector and background in #sustainability and #technology played a pivotal role in shaping the vision for the company. Starting with a fleet of 70 EVs in Delhi NCR, today the company has a growing fleet of over 7000 EVs. It boasts of an impressive array of EVs from companies like Tata Motors, MG Motors, Hyundai Motor India Ltd., Mahindra Group and most recently Citroën India. 🚙 Here's some interesting facts about BluSmart: 1️⃣ They have completed over 12.5 million all-electric trips 2️⃣ They have covered over 410 million clean kilometers 3️⃣ They have saved over 30 million kilograms of CO2 emissions 4️⃣ They have installed 4,400 EV chargers across 35 locations Here's the icing on the cake: BluSmart recently joined hands with TATA Power to power its fleet of electric cabs with #SolarEnergy! 30 MW of clean energy from Tata Power's 200 MW solar plat in #Rajasthan this year to drive their fleet. This will power their entire fleet all the way till March 2024. It is extremely rare for a company to be this #green! BluSmart plans to expand its fleet to over 10,000 in the next 2 quarters. Having crossed an ARR of 500 crore and there is no denying that this ride is unstoppable! BluSmart is #GoingBigonIndia! Share your thoughts on this mega #EV company with us and #Followus for more! Congratulations to the #BluSmart team: Punit K Goyal Anmol Jaggi Puneet Jaggi Anirudh Arun Rishabh Sood Tushar Garg Avi Katyal Rahul Jain Aastha Bhandari Bansal Ankur Surolia Saumya Rao Anjali Jain Sreejith Hrishikesh Monil Khatri Nidhi Gupta

Many of you know I've been an avid supporter of electric mobility in India for several years. One of my first investments was in Q4 2021, leading a $25m Series A investment in BluSmart - an all-electric, full stack and vertically integrated mobility platform. Today, BluSmart operates the largest EV ride-hailing fleet in South-East Asia with 7,500 EVs having covered over 500 million electric kms, delivering a 4.9/5 star customer experience after 15.2 million rides, and saving tonnes of carbon emissions. You can see the coveted "hockey stick" effect from that cash injection to help it survive the pandemic and accelerate scale up of what I believed at the time was an optimal value proposition in an emerging B2C/B2B2C market sector. India's “can-do” attitude and “will-do” determination partly fuels my belief in the potential for numerous tech-led offers that are being born at IITs and other innovation hubs across the country. Startups that survive and thrive - in India and anywhere else for that matter - are the ones, like BluSmart, that pay attention to keeping customers happy and their operations safe, to developing momentum-building and sustainable business models, to deploying capital efficiently, to building market validated customer MOATs, and to having teams that are deeply invested in their missions. I still think BluSmart has the best ride-hail business model anywhere on the planet (and I should know a thing or two about e-mobility after helping bp develop its global program before moving over to the Ventures team in late 2020). Will their growth curve continue to be as spectacular in the coming years? Who knows but the TAM, tech and talent in BluSmart all point to continued success. If you are a growth-stage investor and keen to know more about BluSmart, lets connect. If you are building in India one of these types of startups and operate in the fleet electrification, e-mobility software, bio-energy, new energy vector, and power management sectors (or a CVC/VC looking at earlier stage startups and/or these sectors), lets connect too. #blusmart #hockeystick #startup #india #venturecapital #customermoat #businessmodel #cvc #growthequity #vc #electricmobility #CleanMobility #RideHailing #ZeroEmissions #CustomerExperience #SmartMobility #BornElectric #energytransition #netzero #cleanenergy #decarbonization #greenfiance #cleantechnologies #circulareconomy #GETAwarded #GET24 #powerandgrid #digitization #greenenergy #ecosummit

A Significant Milestone Achieved: E-Mobility is Here to Stay! The world has finally embraced a game-changing technology that promises to revolutionize the way we travel, reducing our reliance on fossil fuels and mitigating climate change. E-mobility has arrived, and it's here to stay! The benefits of e-mobility are undeniable. By switching to electric vehicles (EVs), we can significantly reduce greenhouse gas emissions, decreasing our carbon footprint and contributing to a cleaner, healthier environment. With EVs, we can bid farewell to noisy, polluting vehicles and hello to a quieter, more sustainable future. Africa, in particular, is poised to become a hub for e-mobility. As an emerging market, the continent offers immense opportunities for investors seeking high returns. With a growing population and increasing urbanization, Africa's demand for transportation solutions is on the rise. E-mobility provides a cleaner, more efficient alternative to traditional fossil fuel-based transportation, aligning perfectly with the continent's development goals. Investors, take note! Africa offers a unique chance to be part of a revolutionary movement, driving growth and sustainability while reaping significant financial rewards. The e-mobility market is expected to experience exponential growth, driven by government incentives, decreasing battery costs, and increasing consumer adoption. By investing in Africa's e-mobility market, you'll not only be contributing to a cleaner environment but also tapping into a lucrative opportunity. With the right investments, we can create a comprehensive e-mobility ecosystem, encompassing manufacturing, charging infrastructure, and services. This will not only drive economic growth but also create jobs, stimulate innovation, and enhance the quality of life for millions of Africans. The time to act is now! Join the e-mobility revolution in Africa and be part of a movement that will transform the continent's transportation landscape. Together, let's create a sustainable, prosperous future for generations to come. Embrace the power of e-mobility and invest in Africa's emerging market today!

🔋 𝐁𝐥𝐮𝐒𝐦𝐚𝐫𝐭’𝐬 𝐆𝐫𝐨𝐰𝐭𝐡 𝐑𝐨𝐚𝐝𝐦𝐚𝐩 As India’s largest EV ride-hailing service, BluSmart is leading the charge for sustainable mobility, but its growth story highlights the pressing need for robust EV infrastructure. 💡 𝐊𝐞𝐲 𝐅𝐚𝐜𝐭𝐬 & 𝐅𝐢𝐠𝐮𝐫𝐞𝐬: • BluSmart’s fleet has grown from 70 𝐜𝐚𝐛𝐬 𝐢𝐧 2019 𝐭𝐨 7,600 𝐢𝐧 2024. • 𝐂𝐮𝐫𝐫𝐞𝐧𝐭 𝐜𝐡𝐚𝐫𝐠𝐢𝐧𝐠 𝐢𝐧𝐟𝐫𝐚𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞: 50 hubs. Target: 30,000 vehicles by 2026, requiring substantial scaling of charging stations. • BluSmart’s ride-hailing revenue reached ₹160 crore in 2022-23, but losses widened to ₹216 crore, up from ₹139 crore in 2020-21. • Each cab needs 9 trips/day to break even, but current performance averages 7 trips/day. ⚡ 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬: 1. 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 𝐂𝐡𝐚𝐫𝐠𝐢𝐧𝐠 𝐈𝐧𝐟𝐫𝐚𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞: With peak-hour demand outstripping supply, scaling chargers is now a bottleneck. 2. 𝐇𝐢𝐠𝐡 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐂𝐨𝐬𝐭𝐬: End of the FAME-2 subsidy could raise acquisition costs further. 3. 𝐋𝐨𝐰𝐞𝐫 𝐅𝐥𝐞𝐞𝐭 𝐔𝐭𝐢𝐥𝐢𝐳𝐚𝐭𝐢𝐨𝐧: Smaller fleet size compared to competitors like Uber limits demand during off-peak hours. 4. 𝐇𝐢𝐠𝐡𝐞𝐫 𝐅𝐚𝐫𝐞𝐬: BluSmart fares are 10-20% higher, making it less competitive in price-sensitive markets. 📈 𝐁𝐥𝐮𝐒𝐦𝐚𝐫𝐭’𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 𝐭𝐨 𝐑𝐞𝐜𝐡𝐚𝐫𝐠𝐞 𝐆𝐫𝐨𝐰𝐭𝐡: • 𝐒𝐡𝐚𝐫𝐞𝐝 𝐈𝐧𝐟𝐫𝐚𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞: Opening charging stations to non-BluSmart fleets to increase utilization. • 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧: Piloting a 100-car fleet in 𝐃𝐮𝐛𝐚𝐢 with higher fare structures and a developed charging network. • 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫 𝐒𝐮𝐩𝐩𝐨𝐫𝐭: Backed by prominent investors such as 𝐃𝐞𝐞𝐩𝐢𝐤𝐚 𝐏𝐚𝐝𝐮𝐤𝐨𝐧𝐞 𝐚𝐧𝐝 𝐌.𝐒. 𝐃𝐡𝐨𝐧𝐢.. 🌍 𝐓𝐡𝐞 𝐑𝐨𝐚𝐝 𝐀𝐡𝐞𝐚𝐝: #BluSmart’s success depends on balancing fleet expansion, charging infrastructure, and profitability. Will scaling infrastructure unlock the next chapter of EV growth in India? #ola #uber #startup #founder #ev #sustainability #mumbai #bangalore #delhi #gurgaon #car #management #strategy #technology #innovation #investment, #investing, #seedinvestor, #startupinvestor #angelinvestor #investor #investments #hyderabad #VentureCapital Bestvantage Investments #Jobs #Hiringandpromotion #bestadvice #money #motivation #india #branding #projectmanagement #future #HR #culture #hiring #personaldevelopment Read the full article: https://lnkd.in/d8gciijf

BlackSoil-Backed BluSmart Crosses INR 500 Cr ARR In FY24, Eyes 10,000 EV Fleet By 2024-End 💰🔥 BluSmart, a Bengaluru-based electric vehicle ride-hailing startup, has reportedly achieved a significant milestone – an annual run rate (ARR) of Rs 500 crore (around $60 million) in FY24! This marks a doubling of their ARR compared to the previous fiscal year. 👉 The growth is fueled by offerings such as zero cancellations, on-time arrivals, and zero-emission cabs 👉 BluSmart's gross business value (GBV) has experienced growth, achieving a CAGR of 300% 👉 The startup aims to reach 10,000 EV fleet by the end of 2024 What This Means for BluSmart: This robust ARR opens doors for BluSmart's future endeavors: ⭐️ Fleet Expansion: The fresh revenue stream can be used to invest in expanding their fleet of electric vehicles, catering to a wider customer base. ⭐️ Market Expansion: BluSmart might consider venturing into new cities across India to capitalize on the growing demand for sustainable mobility solutions. ⭐️ Strategic Partnerships: Potential collaborations with electric vehicle manufacturers, charging infrastructure providers, and other stakeholders could further strengthen their position in the market. The Future of E-Mobility in India: BluSmart's success story paves the way for a greener future of transportation in India: 👉 Increased EV Adoption: This achievement could incentivize more users to opt for electric vehicles, contributing to a cleaner and more sustainable transportation ecosystem. 👉 Infrastructure Development: The growth of e-mobility might lead to further investments in charging infrastructure, addressing a key concern for EV adoption. 👉 Focus on Innovation: Competition in the e-mobility space is likely to drive innovation in electric vehicle technology, battery efficiency, and charging solutions. What are your thoughts on BluSmart's achievement? Share your insights and predictions in the comments below. #BluSmart #EV #Emobility #India #RideHailing #Sustainability #Growth #Transportation #FutureofMobility #startup

BluSmart, a pioneering electric mobility startup based in Delhi NCR, has achieved a significant milestone in its journey by surpassing an annual run rate (ARR) of INR 500 Cr ($60 Mn) in the fiscal year 2024. This remarkable feat represents a staggering growth of 102% compared to the previous year, underscoring the company's rapid ascent in the electric vehicle (EV) ride-hailing sector. Established in 2019 by Anmol Singh Jaggi and Punit K Goyal, BluSmart has emerged as a trailblazer in the realm of sustainable transportation. Its commitment to eco-friendly practices and innovative offerings has propelled its gross business value (GBV) to unprecedented levels, registering an impressive compound annual growth rate (CAGR) of 300% over the past three years. Central to BluSmart's success is its unwavering focus on customer satisfaction, reflected in its stellar 4.9/5 star rating. By prioritizing reliability and convenience, the startup has differentiated itself through industry-first initiatives such as zero cancellations, punctual arrivals, and emission-free cab services. This customer-centric approach has not only fostered loyalty but also contributed significantly to BluSmart's exponential growth trajectory. Operating in key metropolitan areas including Delhi NCR and Bengaluru, BluSmart has expanded its footprint to cater to the increasing demand for sustainable transportation solutions. Beyond offering EV ride-hailing services, the company has also invested in developing robust charging infrastructure to support its growing fleet of electric vehicles. This holistic approach underscores BluSmart's commitment to fostering a greener, more sustainable future for urban mobility in India. In addition to its financial milestones, BluSmart has been instrumental in driving awareness and adoption of electric vehicles across the country. By showcasing the viability and benefits of EVs in the ride-hailing industry, the startup has played a pivotal role in reshaping perceptions and encouraging widespread adoption of clean transportation alternatives. #BluSmartAchievement #SustainableTransportation #CustomerFirst #EcoFriendlyRideHailing #ElectricMobility #GreenCommute #UrbanSustainability #InnovationInMobility #FutureOfTransportation #CleanerGreenerTomorrow

BluSmart Mobility, a pioneering electric vehicle (EV) ride-hailing service and EV charging superhub operator, is in the process of raising Rs 200 crore (approximately $24 million) in a pre-Series B funding round. According to regulatory filings from the Registrar of Companies, the company has issued over 1 million pre-Series B preference shares at Rs 1,840 each. This funding round features participation from both existing and new external investors, including a global climate and infrastructure fund and leading family offices. While BluSmart has not disclosed all the names of the investors, the company is known to have backing from prominent entities such as BP Ventures, Survam Partners, Mayfield Fund, 9Unicorns (now 100Unicorns), JITO Angel Network, Green Frontier Capital, Stride Ventures, Alteria Capital, and BlackSoil. Co-founder Punit K Goyal noted that this round also includes contributions from BluSmart founders, current investors, and some founders of India's largest startups. He expects the round to close by the end of next month. BluSmart reported revenue of Rs 390 crore for FY24, up significantly from Rs 160 crore in FY23. The company has now surpassed Rs 500 crore in annualized revenue run rate (ARR). Earlier this year, BluSmart raised $25 million in January from Zurich-based climate finance firm ResponsAbility and secured around $66 million through two funding rounds in 2023. Since its inception in 2019 by Anmol Jaggi, Puneet Jaggi, and Punit K Goyal, BluSmart has established over 4,400 EV chargers across 36 superhubs and expanded its fleet with 7,000 electric vehicles. The company distinguishes itself from competitors like Ola, Uber, and Rapido by offering scheduled pick-ups and drops with its all-electric fleet. BluSmart is set to expand internationally, with an official launch in Dubai planned for the first week of June. The company is currently piloting operations in Dubai with about 100 Audi E-Tron SUVs and 130 drivers, and has plans to enter Abu Dhabi later this year. While BluSmart competes with major players like Uber and Ola, as well as new entrants like Rapido and Namma Yatri, its operations are currently focused in Bengaluru and the National Capital Region (NCR). #BluSmart #EV #ElectricVehicle #Mobility #RideHailing #EVCharging #Superhub #Funding #FundraiserAlert #FundingAlert #SeriesBFunding #GlobalClimate #InfrastructureFund #Startup #StartupGrowth #StartupEcosystem #AllBoutCorps