In this video, I will be sharing BluSmart’s story and will be answering a few questions such as: How did BluSmart win over the hearts of people? Who are the people running BluSmart? How does it do business? These are a few of the questions we will be answering in this video so watch the video till the end.
Ride-hailing industry has been for so long in India with Ola and Uber becoming verbs when one needs a ride. But with the advent of electric vehicles, the ride-hailing industry is rejigging not by Ola/Uber but by BluSmart
BluSmart, founded in 2019, is an all-electric ride-sharing platform that is taking on the big boys such as Ola and Uber for a piece of the ride-hailing market in India. With a more unconventional approach to owning the assets, BluSmart has decided to take the asset-heavy approach contrary to that of Ola and Uber, which I believe is a risky but smart approach in the long run.
BluSmart solved a bunch of problems that Ola/Uber have and that the people of India are extremely frustrated about such as cancellation of rides, surge pricing, etc. With all their cars being electric, they get the significant benefit of running cost of the car and preference from the government for being environmentally friendly.
This has led to people adoring BluSmart, giving the founding team the confidence to grow faster. They had recently raised a $25M round, the largest ever in EV space in India, led by BP Ventures, and are now in advanced talks to raise $250M. The company also secured a $100 million credit line to expand its fleet via the purchase of 7,000 electric vehicle cars. Currently, they have 3000+ cars in the fleet.
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