BluSmart
EV ride-hailingIndia
New to Unitard
💀 Dead / Bankrupt
Peak $1 BillionToday
~-100%
from peak
- 🦄Became a unicorn~2024
- 📈Peak valuation$1 Billion ’24
- 💔Became a Unitard2025
- 💸Last valuationWiped out
🔥 Raised & burned
$180M
Total raised
$75.8K/day
Burned · 6.5y alive
Funding: Inc42/press
Current status
NCLT insolvency 2025; SEBI probe
The rise & fall
5 moments · 2019–2025The key moments, with employee sentiment along the way.
Jan 2019
Jan 2019
Founded in Gurugram
An all-electric ride-hailing service that owns its fleet and its chargers — a green answer to Uber and Ola.
Inc42
2024
2024
The peak: India's all-EV challenger nears $1B$1B
Own cars, own charging hubs and ~$180M raised carry BluSmart to the edge of unicorn status.
Inc42
Apr 2025
Apr 2025
The Gensol affair: SEBI alleges fund diversion
Regulators accuse affiliated Gensol Engineering of diverting funds; BluSmart, whose fleet is tied to Gensol, suspends operations within days.
Inc42
2024–25
From the inside · Glassdoor reviews, 2024–25
Glassdoor reviews show a workforce blindsided: employees were still praising the culture into early 2025 — the chronic gripes were office politics and favoritism, not pay — until salaries stopped around March and reviews turned overnight into pleas for months of unpaid wages and final settlements.
2025
2025
NCLT insolvency — joins the Unitard Club 💔
With the fleet grounded and operations suspended, the six-year-old EV pioneer lands in India's insolvency tribunal, the SEBI probe still running.
Inc42
$1Bof peak value erased · 6 years
💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.
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, approaching a ~$1B valuation around 2024. It unraveled in 2025 amid a SEBI investigation into alleged fund diversion at affiliated Gensol Engineering, ending in suspended operations and NCLT insolvency.
Source: YourStory/Inc42
Where they went
- Anmol Singh Jaggico-founder & CEOYPO Member at YPO
- Puneet Singh Jaggico-founderNot on record
- Punit K Goyalco-founderFounder & CEO at PureOn.AI
Current roles as self-reported on LinkedIn, retrieved 2026-08-21. See our methodology.
