BluSmart achieves an annual revenue run rate surpassing Rs 400 crore

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BluSmart achieves an annual revenue run rate surpassing Rs 400 crore

Team FS

30/Apr/2024

Key Points:

Impressive Growth: BluSmart, an EV ride-hailing and charging provider, achieves an annual revenue run rate (ARR) of Rs 400 crore, propelled by the expansion of its electric vehicle fleet and charging infrastructure.
Expansion Plans: With a fleet of 5,000 electric vehicles and over 3,900 EV charging points across Delhi-NCR and Bengaluru, BluSmart aims for rapid growth in the coming year, fueled by robust demand for its services and the growing adoption of electric mobility.
Financial Backing: BluSmart secures $42 million in recent funding, including equity and venture debt, with significant contributions from founders and existing investors, reinforcing confidence in the company's vision and potential.

BluSmart, a leading provider of EV ride-hailing and charging services, has achieved a significant milestone with an annual revenue run rate (ARR) of Rs 400 crore. This milestone underscores BluSmart's commitment to advancing electric mobility and meeting the evolving transportation needs of Indian consumers.

Expanding Electric Fleet and Charging Infrastructure
Operating in Delhi-NCR and Bengaluru, BluSmart has rapidly expanded its electric vehicle fleet to 5,000 vehicles, catering to the increasing demand for eco-friendly transportation solutions. Additionally, the company has established over 3,900 EV charging points across 32 charging hubs at key locations in these cities, enhancing accessibility and convenience for EV users.

Fueling Growth and Innovation
Anmol Singh Jaggi, Co-founder and CEO of BluSmart, expressed optimism about the company's growth trajectory, highlighting robust demand for its services and the transformative impact of electric mobility. With plans to further expand its fleet and charging infrastructure, BluSmart aims to accelerate the adoption of electric vehicles and contribute to a sustainable transportation ecosystem.

Financial Support and Confidence in BluSmart's Vision
BluSmart recently raised $42 million in funding, comprising equity and venture debt, with significant contributions from its founders and existing investors. This financial backing reflects confidence in BluSmart's business model, growth potential, and commitment to driving positive change in the transportation sector.

Conclusion: Pioneering Electric Mobility in India
BluSmart's achievement of a Rs 400 crore annual revenue milestone signifies its leadership in the burgeoning electric mobility market in India. With a focus on innovation, sustainability, and customer satisfaction, BluSmart is poised to play a pivotal role in shaping the future of transportation, driving economic growth, and environmental conservation in the country.

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BluSmart achieves an annual revenue run rate surpassing Rs 400 crore

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