Evera Cabs bets on BluSmart EVs to drive Rs 100 crore revenue in FY26

Company targets 1,000 fleet, 39,000 customers in its expanded June run

Delhi-based electric vehicle (EV) ride-hailing firm Evera Cabs, which grabbed headlines after acquiring 500 cars from the now-defunct cab service BluSmart, is stepping up its presence in the EV cab segment.

 

The company is aiming for revenue of ₹100 crore in the ongoing financial year (2025–26), up from ₹18 crore in 2024–25. The projected growth comes as the company expands its EV fleet by taking possession of a portion of BluSmart’s vehicle inventory.

 

BluSmart’s abrupt exit, following the implication of its founders’ company Gensol Engineering, has left the electric mobility cab-hailing market wide open. Capitalising on the opportunity, Evera has begun increasing its capacity at airport terminals in New Delhi.

 

“The service given by BluSmart was the one customers liked. I am sure they are looking for a similar service from somewhere. We are currently scaling at the airport and, for those customers — at least from an airport perspective — the requirements would be met,” said Nimish Trivedi, cofounder and chief executive officer of the company. Evera previously operated only from Terminal 3 at the Delhi airport.

 

The Delhi-based startup has already acquired 220 EVs (a mix of Tata Tigor, Citroën, and MG ZS EV), while the remaining 280 vehicles will be claimed in the coming days, the company said. In total, Evera plans to acquire 1,000 BluSmart cars.

 

Trivedi added that the company is also ramping up its business-to-business (B2B) operations, which form the majority (80 per cent) of its business.

 

“We are discussing two projects related to EV transportation services outside the Delhi–National Capital Region (NCR), in the western part of the country, but they are yet to take final shape. I see another two months before I can share something more concrete,” Trivedi said.

 

In Delhi-NCR, Evera currently has about 15 corporate clients and aims to add three to four more in the national capital within two months.

 

Currently, Evera has a fleet size of 450 (excluding BluSmart cars). However, by the end of the April–June quarter, the company plans to increase both its fleet size and customer base.

 

“We are taking cars based on demand and not going out and generating demand. We already have a funnel in place. Our fleet size is 450, and we already have about 220 BluSmart cars. So we should have around 1,000 cars by the end of June. For customers, in two months, the growth would be 25–30 per cent on the base of 30,000,” Trivedi said.

 

Evera currently has nearly 30,000 customers, and the company expects its customer count to grow to between 37,500 and 39,000.

 

As for fundraising plans to support the ongoing expansion, Trivedi said the company is in the process of raising fresh capital from a foreign fund. In March 2023, Evera reportedly closed its pre-Series A funding round at $7 million. The funds have been used to pay the margin money for leasing the cars and to develop tech infrastructure, Trivedi added.

 

Founded in 2019, Evera has three cofounders: Nimish Trivedi, Vikas Bansal, and Rajeev Tiwari. The director is Arthit Narula, and its chief operating officer is Kapil Sharma, according to the company’s website.

 

Evera began operations in 2019 as a fleet partner for cab-hailing companies Ola Consumer and Uber. During the Covid-19 pandemic, it tied up with the Delhi government to ferry so-called Covid warriors. Since then, the company has evolved into a B2B transportation provider and a business-to-consumer EV cab-hailing service.