The domain name "blu-smart.com" of the now-defunct electric ride-hailing business BluSmart is for sale. A cursory examination of the BluSmart website showed that users are taken to a parked page indicating that the domain is available for purchase. The development follows a string of issues that the
The Delhi Debt Recovery Tribunal (DRT) has been contacted by the Indian Renewable Energy Development Agency (IREDA) to recover around INR 729 Cr from Gensol Engineering after the agency filed an insolvency plea against the company. The company filed an original application under Section 19 of The Recovery of Debts
Following Gensol Engineering's default on a loan of INR 510 crore, the state-run financier Indian Renewable Energy Development Agency (Ireda) filed a petition against the business under Section 7 of the Insolvency and Bankruptcy Code, Ireda said in a stock exchange filing on 14 May. The value of
According to various media reports, India's central bank is investigating some digital wallets linked to electric vehicle companies after the abrupt demise of the nation's biggest all-EV taxi service prevented customers from accessing funds linked to their accounts. The issues encountered by customers of the digital
Almost a month after market regulator SEBI prohibited them from holding important roles within the firm, Gensol Engineering Ltd said on May 12 that Anmol Singh Jaggi, the managing director, and Puneet Singh Jaggi, the full-time director, had resigned. In his letter of resignation, Anmol Jaggi stated that he would
According to reports, BluSmart's current backers, which include BP Ventures and ResponsAbility Investments, intend to provide $30 million (INR 253.64 Cr) to help the electric taxi hailing business get back on its feet. According to media reports, the money will be in the form of unsecured debt
Evera Cabs, an app-based electric taxi service provider, announced on 5 May that it has begun the process of reclaiming 500 electric taxis that were formerly run by the troubled BluSmart. According to a statement from Evera Cabs, 220 cars have already been purchased, and the remaining 280 will be
Weeks after the EV ride-hailing company abruptly suspended operations, hundreds of BluSmart driver partners have started protesting throughout Delhi-NCR, calling for compensation and alternative employment. The drivers, many of whom call BluSmart the best platform they've ever used, claimed they were left in the dark about unpaid invoices
BluSmart wasn’t just a job to many women; it was a pathway to financial freedom. For Amardeep Kaur, a 35-year-old homemaker, driving for the electric taxi-hailing platform was a way to achieve a household’s first kind of meaningful financial freedom. Lasting only six months, it was the kind
Collections 🗒️
Mahendra Singh Dhoni, fondly known as 'Captain Cool', has ruled the cricketing world with his sharp instincts and fearless leadership. From winning World Cups to being one of the most celebrated captains, his journey on the field is legendary. But Dhoni’s story does not end with cricket.
According to a media outlet, Grant Thornton will be looking into BluSmart's financial situation, paying particular attention to how money is moved and used.
If the purchase goes through, BluSmart's last known valuation of $300 million (about INR 2,561 crore) would be at least 60% lower.
The electric cab startup BluSmart was once a rising star in India's green mobility space but has now paused ride bookings. This was after allegations came from the Securities and Exchange Board of India (Sebi) that co-founder Anmol Jaggi diverted money that was intended for buying vehicles. Since
Images of BluSmart taxis being rebranded as Uber Green have recently been made public from Bengaluru. Gensol Engineering-owned BluSmart is presently in negotiations with Uber's Indian division to lease out between 800 and 1,000 of its electric vehicles as Uber Green taxis.
Nearly six years have passed since the EV ride-hailing firm first joined the market in 2019. A plan to start moving BluSmart's current fleet to Uber in the coming weeks has been authorised by the company's owners.
Cofounder Anmol Singh Jaggi promised in an email to the staff that all outstanding debts will be paid by the end of April. Jaggi stated in an email that there will be a little delay in processing salaries because of present cash flow issues.
BluSmart Mobility has seen several high-profile exits and is currently going through a significant operational reorganisation to strengthen its financial stability. As per the recent reports in the media, its Vice-President Priya Chakravarthy, Chief Business Officer Tushar Garg, Chief Technology Officer Rishabh Sood, and Chief Executive Officer (CEO) Anirudh Arun
📄Company Profiles
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. With high fuel prices and global warming becoming a major thing, the era for electric vehicles is here. People aren't aware and assume that electric vehicles are a recent invention, but in
Rishabh Sood, co-founder and CTO of BluSmart discusses his founder journey, building a sustainable business and adoption of EVs with host Gautam Srinivasan. Over the past decade, the Indian Startup Ecosystem has undergone an exceptional evolution, surfacing as a vibrant and dynamic landscape for entrepreneurs. India is hosting a plethora
Collections 🗒️
Climate change has just become a real thing as well as a major concern as a result of unforeseeable events. Climate change is accelerating every year as a result of Greenhouse gas emissions (the burning of fossil fuels, methane, and carbon dioxide to generate energy consumption) and external activities conducted
🔍Insights
India is known to have the third-largest startup ecosystem in the world. According to the Nasscom report, the country will have more than 50 unicorns [https://startuptalky.com/startup-unicorn-company/] by the end of 2021 and more the 100 by 2025. This growth has only been made possible because of the