BluSmart Achieves 77% GMV Growth in first half of FY25, Driven by Strong Customer Growth in Premium Services
Gurugram, November 13, 2024: BluSmart, South Asia's premier EV ride-hailing service and EV charging infrastructure network, has reported a 77% year-over-year increase in Gross Merchandise Value (GMV), reaching INR 275 Crore in H1FY25, up from INR 155 Crore in H1FY24. This growth complements BluSmart’s fleet and charging network expansion, showcasing the accelerating demand for sustainable mobility solutions in India. BluSmart’s GMV has grown multifold over 2 years, with GMV in October 2022 at over INR 4 crore, now surging to over INR 55 crore in October 2024. This increase of over thirteen times between October 2022 and October 2024 highlights BluSmart’s rapid expansion in electric mobility. Festive Season Surge and Service Expansion The festive season, spanning October to December, is bolstering BluSmart’s performance, with projections indicating a 50% increase in total rides and a 60% rise in unique riders during this period. This seasonal uptick aligns with BluSmart’s consistent year-on-year growth, effectively doubling its rides and unique riders annually. Commenting on the growth trajectory Punit Goyal, Co-Founder of BluSmart, said: “The exponential growth in revenue and GMV reflects both the trust of our riders and the mounting demand for sustainable mobility options. The festive surge in rentals, airport transfers, and daily ridership underscores BluSmart’s role in enhancing travel ease, especially during peak seasons. We remain committed to providing a reliable, eco-friendly travel experience to all.” With the largest EV fleet in South Asia, comprising over 8,500 EVs, BluSmart has facilitated ~650 million clean kilometers and 20 million rides, reducing CO2 emissions by ~47,000 tons. BluSmart’s charging network now includes over 5,000 stations across 50 hubs in Delhi NCR and Bengaluru, covering over 2 million sq. ft. and supported by 10,800 driver partners. About BluSmart BluSmart is South Asia’s largest born-electric, full-stack, vertically integrated EV Ride Hailing service and EV Charging Infrastructure network. Founded in 2019, BluSmart is committed to building a vertically integrated energy-infrastructure, mobility and technology business to “Decarbonise Mobility at Scale”. It operates in Delhi NCR and Bangalore and made its first international foray with the launch in UAE in June 2024 as a premium all-electric limousine service. BluSmart has been granted a US patent for its pioneering allocation system for electric mobility by the United States Patent and Trademark Office (USPTO), underscoring our technological leadership and commitment to innovation and sustainability. Learn more about BluSmart on www.blu-smart.com / LinkedIn @BluSmart, Twitter @BluSmartIndia and Instagram @blusmartindia / For latest updates check out https://blu-smart.com/en-IN/newsroom
Gurugram, November 13, 2024: BluSmart, South Asia's premier EV ride-hailing service and EV charging infrastructure network, has reported a 77% year-over-year increase in Gross Merchandise Value (GMV), reaching INR 275 Crore in H1FY25, up from INR 155 Crore in H1FY24. This growth complements BluSmart’s fleet and charging network expansion, showcasing the accelerating demand for sustainable mobility solutions in India.
BluSmart’s GMV has grown multifold over 2 years, with GMV in October 2022 at over INR 4 crore, now surging to over INR 55 crore in October 2024. This increase of over thirteen times between October 2022 and October 2024 highlights BluSmart’s rapid expansion in electric mobility.
Festive Season Surge and Service Expansion
The festive season, spanning October to December, is bolstering BluSmart’s performance, with projections indicating a 50% increase in total rides and a 60% rise in unique riders during this period. This seasonal uptick aligns with BluSmart’s consistent year-on-year growth, effectively doubling its rides and unique riders annually.
Commenting on the growth trajectory Punit Goyal, Co-Founder of BluSmart, said: “The exponential growth in revenue and GMV reflects both the trust of our riders and the mounting demand for sustainable mobility options. The festive surge in rentals, airport transfers, and daily ridership underscores BluSmart’s role in enhancing travel ease, especially during peak seasons. We remain committed to providing a reliable, eco-friendly travel experience to all.”
With the largest EV fleet in South Asia, comprising over 8,500 EVs, BluSmart has facilitated ~650 million clean kilometers and 20 million rides, reducing CO2 emissions by ~47,000 tons. BluSmart’s charging network now includes over 5,000 stations across 50 hubs in Delhi NCR and Bengaluru, covering over 2 million sq. ft. and supported by 10,800 driver partners.
About BluSmart
BluSmart is South Asia’s largest born-electric, full-stack, vertically integrated EV Ride Hailing service and EV Charging Infrastructure network. Founded in 2019, BluSmart is committed to building a vertically integrated energy-infrastructure, mobility and technology business to “Decarbonise Mobility at Scale”. It operates in Delhi NCR and Bangalore and made its first international foray with the launch in UAE in June 2024 as a premium all-electric limousine service. BluSmart has been granted a US patent for its pioneering allocation system for electric mobility by the United States Patent and Trademark Office (USPTO), underscoring our technological leadership and commitment to innovation and sustainability.
Learn more about BluSmart on www.blu-smart.com / LinkedIn @BluSmart, Twitter @BluSmartIndia and Instagram @blusmartindia / For latest updates check out https://blu-smart.com/en-IN/newsroom
