EV ride-hailer BluSmart seeks $300 million for Delhi expanision
ECONOMY & POLICY

EV ride-hailer BluSmart seeks $300 million for Delhi expanision

BluSmart, India?s leading electric cab operator aims to secure over $300 million in the next three years to expand its car fleet significantly, challenging giants like Uber Technologies Inc. in the rapidly growing market. The company plans to boost its fleet of electric vehicles in India, supplied by various manufacturers, to 13,000 by March from the current 7,500, with a long-term goal of reaching 25,000 cars within the same period.

Part of the funding will facilitate BluSmart's expansion beyond Delhi and Bengaluru, targeting Dubai as its next market. The company intends to launch with approximately 100 Audi EVs, aiming to operate 300 Audi and Tesla Inc. vehicles in Dubai by December, according to Punit Goyal, Co-founder, BP Ventures-backed startup.

While Uber and Ola dominate India?s ride-sharing market, BluSmart sees an opportunity to provide a superior customer experience by exclusively leasing its fleet, distinguishing itself from competitors whose drivers often own their vehicles. The company emphasises quality over low pricing, anticipating that customers in major cities will value the enhanced service.

BluSmart's commitment to an all-electric fleet aligns with broader efforts to combat air pollution in urban centres. Despite the competition's initiatives toward electrification, BluSmart remains focused on its green mission, leveraging its $200 million equity and long-term growth debt to secure an additional $25 million in funding, expected to close by late June.

While Dubai presents an exciting opportunity, India remains BluSmart's primary focus due to its vast population density around cities like Delhi, offering immense growth potential. (ET Infra)

BluSmart, India?s leading electric cab operator aims to secure over $300 million in the next three years to expand its car fleet significantly, challenging giants like Uber Technologies Inc. in the rapidly growing market. The company plans to boost its fleet of electric vehicles in India, supplied by various manufacturers, to 13,000 by March from the current 7,500, with a long-term goal of reaching 25,000 cars within the same period. Part of the funding will facilitate BluSmart's expansion beyond Delhi and Bengaluru, targeting Dubai as its next market. The company intends to launch with approximately 100 Audi EVs, aiming to operate 300 Audi and Tesla Inc. vehicles in Dubai by December, according to Punit Goyal, Co-founder, BP Ventures-backed startup. While Uber and Ola dominate India?s ride-sharing market, BluSmart sees an opportunity to provide a superior customer experience by exclusively leasing its fleet, distinguishing itself from competitors whose drivers often own their vehicles. The company emphasises quality over low pricing, anticipating that customers in major cities will value the enhanced service. BluSmart's commitment to an all-electric fleet aligns with broader efforts to combat air pollution in urban centres. Despite the competition's initiatives toward electrification, BluSmart remains focused on its green mission, leveraging its $200 million equity and long-term growth debt to secure an additional $25 million in funding, expected to close by late June. While Dubai presents an exciting opportunity, India remains BluSmart's primary focus due to its vast population density around cities like Delhi, offering immense growth potential. (ET Infra)

Next Story
Infrastructure Urban

Aadhaar Authentications Cross 27 Billion in FY25

Aadhaar authentication transactions surged past 27.07 billion in FY 2024–25, including 2.47 billion in March alone, reflecting its growing adoption across sectors such as banking, finance, telecom, and public service delivery. Since its inception, the cumulative number of Aadhaar authentication transactions has exceeded 148 billion.The Unique Identification Authority of India’s (UIDAI) AI/ML-based face authentication technology is also witnessing a sharp rise in usage. In March 2025 alone, over 150 million face authentication transactions were recorded. This biometric modality is now used ..

Next Story
Infrastructure Urban

IEPFA Holds Preparatory Meet for 'Niveshak Shivir' Initiative

The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, Government of India, hosted a preparatory meeting on April 28, 2025, with Nodal Officers from stakeholder companies via video conference. The session, chaired by IEPFA CEO Smt. Anita Shah Akella, focused on finalising operational plans for the upcoming ""Niveshak Shivir"" initiative—a joint effort between IEPFA and the Securities and Exchange Board of India (SEBI).""Niveshak Shivir"" aims to improve investor services and streamline the claims process by reaching out to cities with a high nu..

Next Story
Infrastructure Urban

India, France Sign Deal for 26 Rafale-Marine Jets for Navy

India and France have signed an Inter-Governmental Agreement (IGA) for the acquisition of 26 Rafale-Marine aircraft for the Indian Navy, comprising 22 single-seater and four twin-seater jets. The deal also includes training systems, simulators, associated equipment, weapons, and performance-based logistics, along with additional equipment for the Indian Air Force’s existing Rafale fleet.The IGA was signed by India’s Defence Minister Rajnath Singh and French Minister of Armed Forces Sébastien Lecornu. The agreement, along with supply protocols for aircraft and weapons, was exchanged in the..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?