A Delhi-based startup founded by Anmol Singh Jaggi, Punit K Goyal, and Puneet Singh Jaggi. Blu Smart Mobility is India’s first all-electric ride-sharing company and a shared smart mobility platform. The Mahindra e-Verito, Tata e-Tigor, Tata Xpres-T EV, Hyundai Kona Electric, and MG ZS Electric are among the automobiles in the company’s fleet.
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Blu Smart Mobility: An Environmentally- friendly initiative
An exclusive initiative adopted by future generations to save the environment by turning to a cleaner, greener, and more sustainable form of mobility. Through the use of its all-electric cabs, BluSmart has thus far been able to reduce CO2 emissions by far more than 700 tonnes while logging more than 110 million pollution-free kilometers.
The company started campaigning toward this objective in 2020 #MyBluKms, its aim was to attract the residents of Delhi NCR to adopt all-electric mobility, therefore reducing the city’s accumulative pollution output.
What’s so Electrifying about this new player in the ride-sharing business?
It is a very smart application, which is very user-friendly and respects the time limit put up by the customer. The ride has always been before or on-time arrival at pickup for 97% of the trips. Also, the drivers do not have the option to cancel the ride in the application. The most electrifying merit of Blu Smart Mobility stands out to be its all-electric cab ride-sharing. The company has successfully curbed 3350+ tonnes of CO2 emissions, has completed, 1410,000+ electric rides, and has traveled 51 million+ clean km. With BluSmart, you get to travel faster without any deviations. Many BluSmart cab users have said that the eco-friendly nature of the ride just adds to their experience.
Blu Smart Vs ride-hailing competitors
The Indian Taxi industry has constantly faced transformation since 2010. From radio cabs or conventional taxis to online cab services from OLA and Uber.
Blu Smart Mobility is a strong challenge for the existing online cab services; like Ola and Uber. Sustainability serves as the company’s main operating principle. They have the goal to build a comprehensive and all-encompassing electric on-demand mobility platform and deliver beneficial environmental changes to Indian cities.
Additionally, the business introduced its “Green Recommendation” function last year, via which BluSmart plants a tree for every user referral.
Mr. Anmol Jaggi, Founder of BluSmart, said,
“We must adopt environment-friendly and sustainable practices as a thoughtful gesture to save our environment to the greatest possible extent. On this Earth Day, we aim to raise public awareness not just about the toxic air prevalent in the city, but also about how we can help in improving this situation. We believe that there is a pressing need to adopt a greener mode of transport and save our environment from harmful carbon and particulate matter emissions. The more consumers experience EVs, the higher will be the adoption of the same to help us achieve our goal of a pollution-free environment.”
Blu Smart Mobility does not promote surging prices or ride cancellations
With surging prices of cab services like Ola and Uber and drivers canceling rides creating uncomfortable situations for its customers, BluSmart is acting as a great alternate platform for the residents of Delhi NCR. And it pays the drivers by the hour (Rs 60/ hour) instead of taking a % from earnings, therefore the drivers never cancel because they don’t care about the distance or the traffic. With its increasing demand Blu Smart Mobility looking forward to expanding its business and is committed to growing its significant and aggressive presence across the nation’s megacities. After majorly focusing on Delhi NCR it is now planning to spread its operations in certain areas in Bengaluru, including Indiranagar, Koramangala, Wilson Garden, Domlur, HSR Layout, Bellandur, and a few more.
By the end of this year, the ride-sharing startup hopes to increase the number of vehicles in its fleet from 2,200 to over 5,000. By the end of 2023, 30,000 all-electric cabs will be in service.
Great Customer service
Blusmart has highly delivered to its customers in every form, it has the best etiquette, which is not yet seen in any cab service in India. The driver holds the door open for the rider. Many users have shown their support towards BluSnart cabs appreciating their time adherence, user-friendly app, well-trained and courteous drivers, and hygiene.
BluSmart Cabs owns its own EV fleet
The company signed a Memorandum of Understanding with Tata Motors in order to expand its fleet by 3000 additional new electric vehicles. This will render the company to own all its vehicles without having to depend on external vehicles or drivers having vehicles. And it also suggests that these cars require a location where they can recharge their batteries. As a result, the most recent participant in the ride-hailing market has partnered with Jio-BP, a Reliance, and British Petroleum joint venture.
Female drivers have joined BluSmart. In that sense, it looks to be doing everything right, including promoting women’s empowerment, greater service standards, and environmental awareness.
Quicklyz, a vehicle leasing and subscription company of Mahindra and Mahindra Financial Services (MMFSL) a tie-up with BluSmart Mobility which will now provide its customers with a customized lease or up to 500 Electric Vehicles (EVs) which will be deployed on BluSmart’s 100% EV fleet.
The Revenue Model
BluSmart, a platform for all-electric cabs, has secured $25 million in a Series A1 round. This investment round is a continuation of the Series A round, which ended in September 2021. Its Series A investment has now received $50.7 million in total. According to the company, this is one of the biggest Series A funding rounds ever in the worldwide ride-hailing and smart mobility sectors.
The $25 million BluSmart received in the Series A1 round was split into $10 million in venture loan and $15 million in equity. Existing investors joined the equity round, which was led by BP Ventures and Green Frontier Capital, while the venture debt round included Stride Ventures, Alteria Capital, BlackSoil, and UCIC.
BluSmart Mobility has surely shown immense growth in the business challenging its competitors in every aspect.