If Ola and Uber changed the way we hailed taxis, Gurugram-based BluSmart wants to make ride-hailing a green option.
The company, which recently raised $25 million from a clutch of investors led by bp Ventures and which included Mayfield India Fund, 9Unicorns and Survam Partners, is India’s first integrated EV ride-hailing and charging company. The company declined to comment on bp’s stake. Sources said that the 10-year-old corporate venture arm of London-headquarted bp now holds a significant minority stake in BluSmart.
BluSmart is unlike some of the popular app-based ride-hailing businesses. Though it resembles US-based Revel and Alto in terms of having only EV fleets — about 700 now and adding 200 every month — the way it owns the vehicles and manages drivers on its platform is unique in India. First, the business model is asset-light: All its EVs are on lease, from either high-net-worth individuals or companies
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