BluSmart Achieves $60 Million ARR, Targets Expanding EV Fleet

BluSmart Achieves $60 Million ARR, Targets Expanding EV Fleet
BluSmart doubles its ARR to $60 million, plans to expand its EV fleet to 10,000 by 2024, leading the charge in sustainable mobility in India.

BluSmart, an eMobility ride-hailing service and EV Charging Infrastructure provider in India, has announced that it has reached an Annual Run Rate (ARR) of INR 500 Crore ($60 Million), doubling its ARR from the previous fiscal year. The company, operational since 2019, has shown substantial growth, with plans to further expand its electric vehicle (EV) fleet and charging infrastructure.

Key Highlights:

  • BluSmart’s ARR grew by 102% from $30 million in FY23 to $60 million in FY24.
  • The company plans to expand its EV fleet to 10,000 by the end of 2024.
  • BluSmart operates the largest EV fleet in South Asia, with over 7,300 vehicles.

BluSmart’s Growth and Expansion

BluSmart has experienced rapid growth in both its customer base and infrastructure since its inception. The company’s business model integrates the management and operation of an electric vehicle fleet along with a charging infrastructure. BluSmart now boasts a network that spans key locations across Delhi NCR and Bengaluru. It has also marked significant environmental contributions by saving approximately 34 million kilograms of CO2 emissions through its clean kilometers initiative.

Future Plans and Sustainability Goals

The company’s co-founder, Anmol Singh Jaggi, commented on the achievement, stating, “This milestone marks a pivotal moment in our journey. With the increasing demand for sustainable mobility solutions, we are committed to continuing our efforts in building a fully integrated energy-infrastructure, mobility, and technology business.” BluSmart aims to maintain its growth trajectory by expanding its fleet and further developing its charging infrastructure, focusing on providing reliable and sustainable transportation solutions.

BluSmart’s approach not only addresses the increasing demand for environmentally friendly travel options but also aligns with global sustainability goals. The company’s emphasis on zero emissions and reliability has resonated well with its customers, fostering a loyal user base in the highly competitive markets of Delhi NCR and Bangalore.

Conclusion

As BluSmart continues to scale up its operations and infrastructure, it remains dedicated to its mission of decarbonizing mobility at scale, setting a benchmark in the eMobility sector.

About the author

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Shweta Bansal

Shweta, a tech journalist from New Delhi, specializes in AI and IOT. Her insightful articles, featured in leading tech publications, blend complex tech trends with engaging narratives, emphasizing the role of women in tech.

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