What is BluSmart? Their Recent Cases Before Collapsed
2025-05-21
BluSmart was once seen as one of India’s most exciting new tech companies. It was an electric taxi service that promised a cleaner, more reliable way to travel around big cities like Delhi, Bengaluru, and Mumbai. The company said it would never cancel rides, never raise prices during busy times, and only use electric vehicles (EVs) to protect the environment.
Started in 2019 by Anmol Singh Jaggi, Punit K Goyal, and Puneet Singh Jaggi, BluSmart wanted to fix many of the problems people had with other ride-hailing apps like Uber and Ola. People liked that the cars were clean, the drivers were polite, and there was no pollution from petrol or diesel engines. For a few years, things looked very promising.
But in 2025, things went wrong. BluSmart suddenly stopped offering rides, and a big financial scandal came to light. Let’s take a closer look at what BluSmart was and what led to its sudden collapse.
What is BluSmart?
BluSmart, a pioneering name in India's urban mobility landscape, emerged in 2019 with a bold vision: to revolutionize ride-hailing with an all-electric fleet. Founded by Anmol Singh Jaggi, Punit K Goyal, and Puneet Singh Jaggi, and headquartered in Gurugram, Haryana, BluSmart quickly gained recognition as India's first all-electric shared smart mobility platform.
The company's innovative approach, commitment to sustainability, and focus on customer experience set it apart from traditional ride-sharing giants. However, recent developments and a significant financial scandal have cast a dark shadow over its future, leading to the suspension of its core operations.
Also Read: Watch Telugu Movies While Trading - Bappam
What Made BluSmart Special?
BluSmart was different from other ride-hailing services in many ways. Here are some key points:
All-Electric Vehicles Every car in the BluSmart fleet was electric. This meant no pollution from fuel and a focus on sustainable travel. The company used EVs from Mahindra, Tata, Hyundai, MG, and Citroen.
App-Based Bookings Customers could book rides using a mobile app. Services were mainly available in Delhi NCR, Bengaluru, Mumbai, and even briefly in Dubai.
Reliable Service One of BluSmart’s biggest promises was “zero ride denials.” Unlike other companies, drivers wouldn’t cancel rides, and there were no sudden price hikes during rush hour.
BluSmart offered more than just regular taxi services. Customers could rent a car for several hours or book rides between cities.
To support its electric cars, BluSmart built many EV charging “superhubs” across the cities where it operated. These helped keep the fleet running smoothly.
A Greener Mission BluSmart wanted to fight climate change and reduce air pollution. It also partnered with big companies like Tata Motors and Jio-BP to grow its fleet and build more charging points.
What BluSmart Went Wrong?
In April 2025, BluSmart shocked users by stopping all ride bookings in Delhi NCR, Mumbai, and Bengaluru. Behind the scenes, the company was in serious trouble.
The Securities and Exchange Board of India (SEBI) investigated the company’s founders. The agency said that Anmol Singh Jaggi and Puneet Singh Jaggi were involved in misusing investor funds. Money that was meant to buy or lease electric cars was either not used properly or spent on personal luxuries, like expensive real estate. Because of this:
BluSmart missed payments to its car leasing partners.
Many top managers quit the company.
The entire ride-hailing service was suspended.
BluSmart had promised transparency and trust. But now, with these financial problems out in the open, the future of the company looks uncertain.
Their Unique Business Model
BluSmart used what is called an “asset-light” business model. Instead of buying cars, the company leased them from other businesses or investors. This helped them grow quickly without spending too much money upfront.
How BluSmart Worked
BluSmart leased EVs from companies like EESL and Gensol.
Wealthy individuals could also invest by buying EVs and leasing them to BluSmart. In return, they were promised steady monthly payments.
Drivers were not owners of the cars. They worked for BluSmart using leased vehicles, which made it easier for the company to control quality and service.
BluSmart focused on tech, customer service, and charging stations—not on owning cars.
Why This Model Failed
The leasing model only works if the company pays its bills on time. When BluSmart ran into financial trouble, it could not pay its leasing partners. Investors and drivers were left hanging, and the whole business started to fall apart.
Will BluSmart Return?
There are reports that BluSmart might try a different strategy. Instead of running its own taxi service, the company may provide electric cars to Uber. If that happens, BluSmart would become just a fleet partner, not an independent ride-hailing company.
This would be a major change from its original goal of being India’s clean, smart taxi brand.
Conclusion
BluSmart started with a bold idea to clean up city travel with electric taxis. For a while, it worked. The company gained many happy users and expanded across major Indian cities. But poor money management, lack of financial transparency, and the misuse of investor funds have now brought BluSmart to a standstill.
The story of BluSmart is both inspiring and cautionary. It shows that even the most forward-thinking ideas can fail if the business behind them isn’t run honestly and carefully.
FAQ
What was BluSmart?
BluSmart was India’s first electric taxi service. It launched in 2019 and used only electric vehicles to offer app-based rides in big cities.
Who started BluSmart?
The company was founded by Anmol Singh Jaggi, Punit K Goyal, and Puneet Singh Jaggi.
Where did BluSmart operate?
BluSmart operated in Delhi NCR, Bengaluru, Mumbai, and for a short time, in Dubai.
Why did BluSmart shut down?
BluSmart stopped operations after a financial scandal involving its founders. They were accused of misusing investor money, which led to defaults on payments and a full suspension of services.
Is BluSmart coming back?
It’s not clear yet. The company may become a fleet partner for Uber, but it may not return as a separate ride-hailing brand.
Disclaimer: The content of this article does not constitute financial or investment advice.
