Gurgaon, India, April 30, 2024 – BluSmart, India’s leading eMobility ride-hailing service and EV Charging Infrastructure network, today announced that it has crossed Annual Run Rate (ARR) of INR 500 Crore ($60 Million) achieving 102% growth over previous year. BluSmart’s gross business value (GBV) witnessed phenomenal growth, delivering a CAGR of 300% over the last three years, and is well poised for continued growth. The growth is a testament to the deep customer love it has received with a 4.9/5 star customer rating for prioritising reliability, safety and sustainability with industry-first offering of zero cancellations, on-time arrivals, and zero emission cabs.
Leading with the mission statement of “Decarbonising 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. Pioneering the electric revolution today, BluSmart has the largest EV fleet in South Asia of over 7,300 EVs, which have covered ~460 Million clean kilometers saving 34 Million Kgs of CO2 emissions. BluSmart charging network has also grown multifold and spans across prime locations in Delhi NCR and Bengaluru. Earlier this year, BluSmart became the first mobility player in India to achieve 100% emissions-free status, through its efforts towards sourcing 100% green energy.
Since its inception in 2019, BluSmart has steadily grown its fleet size and customer base, prioritising reliability and quality of rides, and thereby prioritising customer experience. Starting with a few pin codes in Gurgaon, remaining resilient during the tough COVID-19 impacted years, BluSmart has now got a loyal customer base in Delhi NCR and even Bangalore (where BluSmart started its operations a little over a year ago.) BluSmart aims to reach 10,000 EV fleet by the end of 2024.
Commenting on the significant growth trajectory for the company, Anmol Singh Jaggi, Co-founder, BluSmart, said “BluSmart’s achievement of crossing INR 500 Crore ($60 Million) in Annual Run Rate marks a pivotal moment in our journey. As we surge ahead, our commitment to building a fully integrated energy-infrastructure, mobility and technology business remains unwavering. We are witnessing a rise in demand for sustainable mobility solutions, reinforcing the growth of a greener, more sustainable future. Fueled by this momentum, we are poised to deepen our impact by expanding our EV fleet and charging infrastructure, catering to our ever-growing customer base.”
