BluSmart, a leading EV ride-hailing service in South Asia, reported a 77% year-over-year growth in Gross Merchandise Value (GMV) for the first half of FY25. The GMV rose to Rs 275 Crore, up from Rs 155 Crore in the same period last year (H1FY24). This rapid growth reflects the strong demand for sustainable travel in India and comes alongside BluSmart’s expansion of its fleet and charging network.
Over the past two years, BluSmart’s GMV has grown significantly. For instance, in October 2022, GMV was recorded at Rs 4 Crore but jumped to Rs 55 Crore by October 2024, marking a thirteen-fold increase. This showcases BluSmart’s fast-paced expansion in the electric mobility sector.
Festive Season and Increased Ridership
The festive season from October to December has further boosted BluSmart’s growth. The company anticipates a 50% increase in total rides and a 60% rise in unique riders during this period. This festive boost aligns with BluSmart’s overall trend of doubling rides and unique riders annually.
Punit Goyal, Co-Founder of BluSmart, stated: “The strong growth in revenue and GMV shows the trust of our riders and the rising demand for sustainable travel. The festive period’s increase in rides, rentals, and airport transfers highlights BluSmart’s commitment to making travel easier and eco-friendly, especially during peak times.”
Expanding Fleet and Reduced Emissions
BluSmart operates South Asia’s largest EV fleet, with more than 8,500 electric vehicles. The company has completed around 650 million clean kilometers and provided 20 million rides, preventing ~47,000 tons of CO2 emissions. The company’s charging network includes over 5,000 stations spread across 50 hubs in Delhi NCR and Bengaluru, supported by 10,800 driver partners.
About BluSmart
BluSmart started in 2019 and is focused on building a fully electric, integrated mobility, energy, and technology business to support large-scale sustainable transport. It currently operates in Delhi NCR and Bengaluru and expanded internationally with a launch in the UAE in June 2024. This UAE service offers a premium all-electric limousine experience.
Recently, BluSmart was awarded a US patent for its unique system for electric vehicle allocation, demonstrating its leadership in innovation and sustainability.
