BluSmart was co-founded on 14 January 2019[4] by Anmol Singh Jaggi, Puneet Singh Jaggi, and Punit K Goyal. In the same month, BluSmart partnered with Mahindra & Mahindra[5] to launch the first batch of EVs on the platform. In September 2019, the company, led by JITO Angel Network, Investment Office of Deepika Padukone, raised an angel roundofUS$3 million.[6][7]
As of July 2022, the company announced it had saved 4300 plus tonnes of CO2 over 1.8 million rides in Delhi NCR.[8][9]OnWorld EV Day 2021, BluSmart announced a partnership with Jio-BP[10] to set up charging infrastructure across India.[11][12]
On World Environment Day 2022, Tata Motors signed an MoU with BluSmart to deliver 10,000 EVs. In July 2022, BluSmart received Verra accreditation on carbon emissions.
The company is committed to sustainability and has partnered with Tata Power to source clean energy for its electric vehicle charging infrastructure. This partnership helps to reduce greenhouse gas emissions and improve air quality in Indian cities. [13][14]
BluSmart functions on an asset-light business model.[15] Cars are procured on a monthly lease from companies like EESL.[2] The company's mobile application can be used to purchase rides that are similar to Uber, Ola Cabs and Lyft. The company uses all-electric cars with their branding on it.[citation needed]
In April 2021, BluSmart initiated a COVID-19 vaccination drive for its drivers,[20] whose vaccination status is visible on the BluSmart mobile app.[21]
BluSmart also launched EV intercity rides from Delhi NCR to Chandigarh, Jaipur.[22]
Unlike its competitors, BluSmart's expansion faces several hindrances. Because BluSmart operates on a hub-to-hub model, the lack of charging infrastructure in India and range anxiety of EVs poses serious hurdles to the company's growth. Because their cars are not driver-owned assets, high maintenance costs might further complicate its scaling-up process.[23]
