BluSmart, an Indian ride-hailing startup, has made its debut in Dubai, signaling its expansion into the United Arab Emirates’ most populous city. The move comes as no surprise, as rumors of BluSmart’s entry into Dubai have been circulating for months. With this strategic move, BluSmart aims to challenge the dominance of established players like Careem, Uber, and Hala in the region.
BluSmart quietly introduced its Dubai service through its app earlier this week and has even created a separate subdomain on its website specifically for Dubai. According to BluSmart co-founder Anmol Jaggi, the pilot phase began on Tuesday, with 100 Audi E-Tron SUVs and 130 drivers operating in the city. The official launch is scheduled for early June.
The plans for BluSmart’s expansion into Dubai have been in the works since early 2023. Initially, when contacted in late March last year, BluSmart’s Chief Business Officer Tushar Garg denied any such development. However, co-founder Punit Goyal later confirmed in an interview with a local media outlet that the startup would be launching in Abu Dhabi and Dubai between November and December.
While the specific timeline for the Abu Dhabi launch remains undisclosed, Jaggi has assured that it will happen later this year.
BluSmart was founded in 2019 by Jaggi, his brother Puneet Jaggi, and Punit Goyal with the aim of challenging the duopoly of Uber and SoftBank-backed Ola. The startup initially focused on electric vehicle (EV) fleets in Gurugram and Delhi and expanded to Bengaluru in 2022.
To support its expansion plans, BluSmart secured funding from prominent investors such as BP Ventures, Mayfield India Fund, and Green Frontier Capital. In January, the startup raised $25 million from impact fund ResponsAbility to strengthen its charging infrastructure.
BluSmart’s recent growth has been impressive. The company announced that its annual run rate has surged by 102%, reaching $60 million. This represents a compound annual growth rate of 300% over the past three years. Currently, BluSmart boasts a fleet of over 7,300 EVs, covering nearly 286 million miles. The company has set an ambitious target of reaching 10,000 EVs by the end of 2024.
By entering the Dubai market, BluSmart has positioned itself as a formidable competitor in the ride-hailing industry. With its focus on electric vehicles, BluSmart brings a sustainable and eco-friendly alternative to traditional transportation options. Its entry into Dubai not only offers residents a new and innovative mode of transportation but also presents a challenge to the existing players in the region. As BluSmart continues to expand its operations and enhance its charging infrastructure, it is poised to make a significant impact on the ride-hailing landscape in Dubai and beyond.