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India’s BluSmart is testing its ride-hailing service in Dubai
May 27, 2024

India’s BluSmart is testing its ride-hailing service in Dubai

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The ride-hailing startup, which counts BP Ventures, Mayfield India Fund and Green Frontier Capital among its early backers, was founded in 2019 by Jaggi, his brother Puneet Jaggi, and Punit Goyal to take on the duopoly of Uber and SoftBank-backed Ola. It started with an EV fleet in Gurugram and Delhi and later expanded to Bengaluru in 2022.

In January, the startup raised $25 million from Switzerland-headquartered impact fund ResponsAbility to pump up its charging infrastructure.

Last month, BluSmart announced its annual run rate grew 102% to $60 million, marking a compound annual growth rate of 300% over the last three years. The startup has a fleet of more than 7,300 EVs, covering nearly 286 million miles, and aims to reach 10,000 by the end of 2024.


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