Earlypad Introduces Indian Funded Startup of the Week: BluSmart

Startups, technology and innovation are exciting and effective instruments for India’s transformation.New startups embody the creativity and innovation of young people. Funding increases visibility and attracts the attention of the market. It adds value to business thereby increasing credibility among customers.

This week Earlypad has come up with one such interesting startup story of an electric cab hailing app BlueSmart that is transforming Indian cities by providing 100% Electric,sustainable and most reliable mobility solutions.

About Startup BluSmart

Blu Smart Mobility is a provider of electric shared smart mobility platform for efficient, affordable, intelligent and sustainable transportation. Blu Smart is making people move smarter in Gurgaon and Delhi NCR.

BluSmart

Vision and Mission

BluSmart vision is to build an all-electric ride hailing platform to address the challenges of congestion and pollution in mega cities of India.

Their mission is to build a comprehensive and holistic smart electric on-demand mobility platform covering the entire value chain of smart mobility, smart charging and smart parking.

Founding Year

BluSmart Mobility was founded on Jan 2019.

Headquarters

They have their headquarters in Gurugram,Haryana

Founders

  • Puneet Jaggi– Director at BluSmart whose mission is to make mobility smarter, safer, affordable and more reliable.
  • Anmol Jaggi– Co-Founder at Blusmart Electric Mobility who has bagged Business World Young Entrepreneur Award in the year 2010.
  • Punit Goyal– Cofounder at BluSmart Mobility who was Punit K Goyal was awarded the Power100 award for being India’s 100 Top Business Leaders in the Solar Industry in September 2018.

Goals for 2020 and Beyond

Founded by Puneet Singh Jaggi, Anmol Singh Jaggi and Punit K Goyal, Blu Smart’s ride-sharing platform provides surge free and affordable pricing, premium all-electric sedans and SUVs, on-demand and intelligent mobility service, highly rated drivers, shorter wait time and zero cancellations from drivers.

BluSmart had raised an angel round of $3 million from JITO Angel Network, Mayfield, KA Enterprises, the investment office of Deepika Padukone, Kalpavriksh Trust and others in September last year.

“Blu Smart is helping in reduce traffic volumes and pollution to make cities ­– healthier and more livable­ – with its zero-emission smart urban mobility service. We are transforming cities by providing convenient, sustainable and affordable mobility with great benefits for consumers, businesses and society,” Anmol Singh Jaggi, Co-founder, Blu Smart added.

Mumbai Angels, Inflection Point Ventures and Lets Venture are the new investors on the table and the company was valued at around Rs 70 crore in the last round.

Blu Smart says it is focusing on building an all-electric ecosystem. During its angel funding round, the startup said it planned to bring on board 15,000 electric cars and 2,500 chargers on its ride-sharing platform by 2021.

The fresh funds will be used for marketing, running operations and leasing deposit for cars. The proceeds will also help BluSmart to streamline operations after a sharp fall in daily volume due to the Covid-19 lockdown.

Number of Lead Investors

BluSmart Mobility is funded by 17 investors. LetsVenture and Mumbai Angels are the most recent investors.

Number Of Funding Rounds

BluSmart Mobility has raised a total of $10.1M in funding over three rounds. Their latest funding was raised on July 3,2020 from a seed round.

Recent News

BluSmart raises Rs 37 Cr in pre-Series A round  from Inflection Point Ventures and Lets Ventures and Mumbai Angels.

Mr Tushar Garg is the Chief Business Officer at Blu Smart who talks about what the company is upto and what are the goals for 2020 and beyond.

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