BluSmart hits $60 million ARR, doubles growth rate in FY24

BluSmart, the frontrunner in India's eMobility ride-hailing sector and EV Charging Infrastructure network, has achieved a remarkable milestone by crossing the Annual Run Rate (ARR) of INR 500 Crore ($60 Million), marking a staggering 102% growth compared to the previous fiscal year. From $30 Million in FY23 to $60 Million in FY24, BluSmart's ascent underscores its burgeoning presence and unwavering commitment to sustainable urban mobility solutions.

The exponential growth in BluSmart's gross business value (GBV) reflects a compelling CAGR of 300% over the past three years, setting the stage for sustained expansion. Bolstered by a stellar customer satisfaction rating of 4.9/5, BluSmart has garnered widespread acclaim for its unwavering focus on reliability, safety, and environmental sustainability. Pioneering industry-first initiatives such as zero cancellations, on-time arrivals, and zero-emission cabs, BluSmart has emerged as a beacon of innovation in the evolving landscape of urban transportation.
Guided by its overarching mission to "Decarbonise Mobility at Scale," BluSmart has spearheaded a paradigm shift with its "born electric, full stack, vertically integrated" business model. Earlier this year, BluSmart achieved a historic milestone by attaining 100% emissions-free status, setting a precedent for eco-conscious mobility solutions in India. Leveraging 100% green energy, BluSmart continues to lead the charge towards a sustainable future.

Since its inception in 2019, BluSmart has demonstrated resilience and unwavering dedication to enhancing the quality of urban mobility. Commencing operations with a modest footprint in Gurgaon, BluSmart has navigated through challenging circumstances, expanding its loyal customer base across Delhi NCR and Bangalore. With an ambitious vision in sight, BluSmart aims to bolster its EV fleet to 10,000 vehicles by the culmination of 2024, further solidifying its position as a trailblazer in the realm of electric mobility.

Commenting on the significant growth trajectory for the company, Anmol Singh Jaggi, Co-founder, BluSmart, said “BluSmart’s achievement of crossing INR 500 Crore ($60 Million) in Annual Run Rate marks a pivotal moment in our journey. As we surge ahead, our commitment to building a fully integrated energy-infrastructure, mobility and technology business remains unwavering. We are witnessing a rise in demand for sustainable mobility solutions, reinforcing the growth of a greener, more sustainable future. Fueled by this momentum, we are poised to deepen our impact by expanding our EV fleet and charging infrastructure, catering to our ever-growing customer base.”