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BluSmart

EV ride-hailingIndia
💀 Dead / Bankrupt
Peak $1 BillionToday
~-100%
from peak
  1. 🦄
    Became a unicorn
    ~2024
  2. 📈
    Peak valuation
    $1 Billion ’24
  3. 💔
    Became a Unitard
    2025
  4. 💸
    Last valuation
    ~$0
Current status
NCLT insolvency 2025; SEBI probe

How it happened

BluSmart was an Indian all-electric ride-hailing company that operated its own EV fleet and charging network as a rival to Uber and Ola. It reportedly approached a ~$1B valuation around 2024. The company unraveled in 2025 amid a SEBI investigation into alleged fund diversion at affiliated Gensol Engineering, leading to suspended operations and NCLT insolvency proceedings.

Source: YourStory/Inc42