Five friends started a groundbreaking journey in the rapidly evolving world of technology. BluSmart, a company, was started by three innovative co-founders: Tushar Garg, who co-founded SKEduSoft in 2010 before moving into the ride-hailing industry after his tenure with Uber India in 2014; Anirudh Arun; and Rishabh Sood. They formed a strong team ready to tackle challenges in ride-hailing. Utilising insights gained from its involvement with Uber, BluSmart introduced its initial electric vehicle, which operated on Uber’s platform from March through November 2019. This experience offered valuable insights into the industry, revealing both successes and pitfalls.
Despite initial challenges, the co-founders went to Bangalore in December 2019 for a crucial investment pitch armed with newfound knowledge. While a notable venture capitalist met their vision skeptically, they remained determined. They were later joined by Anmol Singh Jaggi, founder of Gensol Engineering, and Punit Goyal, a solar industry veteran, who strengthened the team.
It was quite daring to challenge the dominance of Ola and Uber in the ride-hailing industry. However, the Mavericks decided to proceed despite the challenges. Initially, Anmol Singh Jaggi wasn’t inexperienced. He is an entrepreneur in renewable energy, having founded Gensol Engineering, an EPC (engineering procurement and construction) and solar advisory firm based in Ahmedabad, in 2012. He successfully led the company to an IPO in October 2019. Punit Goyal also had significant experience, having spent over a decade in the solar industry and establishing three companies, including one collaborating with renewable energy solutions provider Suzlon.
Tushar Garg, the third partner, was similarly experienced, having co-founded SKEduSoft, an edtech company, in 2010. Convert it into standard English -Anirudh Arun co-founded Khelfie in 2015 and continued with the sports analytics business till 2019. Rishabh Sood, another co-founder of Khelfie, has had a stint with Asian Paints. Anirudh Arun co-founded Khelfie in 2015 and remained involved in the sports analytics business until 2019. Rishabh Sood, another co-founder of Khelfie, had a period of employment with Asian Paints.
As a newcomer in the industry, BluSmart encountered numerous challenges because of its hub-to-hub business model in India. One primary challenge was the shortage of charging stations, which hindered its expansion plans. To overcome this obstacle, BluSmart is installing its own charging stations to address the lack of EV charging infrastructure.
BluSmart has taken strategic measures to tackle this issue. It has established in-house charging hubs that are crucial for sustaining its electric fleet. These hubs meet specific operating requirements to ensure effective charging and minimise vehicle downtime. BluSmart’s proactive approach demonstrates its dedication to overcoming infrastructure-related obstacles.
In addition to focusing on physical infrastructure, BluSmart leverages cutting-edge technology. It optimises fleet deployment using an internal rider and driver matching algorithm. This algorithm ensures efficient routes and reduces the likelihood of cars running out of fuel. By employing sophisticated algorithms and data analytics, BluSmart enhances the reliability of its electric mobility service.
BluSmart maintained its innovative spirit and unwavering determination, believing its electric journey had just begun. Their efforts soon revolutionised environmentally friendly transportation, surpassing expectations and ushering in a new era for the ride-hailing business.
BluSmart promotes clean energy to address India’s environmental challenges, aiming to transform its cities by offering a comprehensive electric on-demand mobility platform. With over 6.5 million clean rides completed and 14,500 tonnes of CO2 emissions saved, BluSmart provides zero-emission rides, reducing harmful greenhouse gases.
BluSmart operates on a business-to-customer (B2C) model, leasing electric cars from entities like EESL and individuals. Their diverse fleet includes popular electric car models like Mahindra e-Verito, Tata e-Tigor, Tata Xpres-T EV, Hyundai Kona Electric, and MG ZS Electric. By incorporating an asset-light approach and offering various electric vehicles, BluSmart positions itself as a key player in the electric mobility sector, contributing to sustainable transportation in India.
BluSmart’s revenue model involves direct payment from customers using their electric taxi services and providing charging services to other electric vehicle owners. This expands BluSmart’s income streams and establishes them as a significant participant in the electric mobility space in India.
