The Indian ride-hailing company, BluSmart, has recently ventured into Dubai, signifying its first international expansion. This strategic move is set to make a notable impact on the ride-hailing landscape in Dubai, already home to established players such as Careem, Uber, and Hala. BluSmart is positioning itself as a strong competitor, offering an eco-friendly transportation option.
BluSmart has discreetly launched its operation through its application and notably set up a dedicated section on its website for the Dubai market. According to a company executive, the pilot commenced with a fleet of 100 Audi E-Tron SUVs and 130 drivers. Initially rumored, this expansion has been confirmed with plans for a formal introduction of the service in early June.
The journey to the Middle Eastern city began in early 2023, even though conflicting statements were made by company executives regarding the plans for Dubai. Eventually, it was revealed that the service would indeed start, aligning with past commentary that mentioned a potential launch in Abu Dhabi and Dubai towards the end of the year. A subsequent launch in Abu Dhabi is anticipated to occur later this year.
BluSmart, which has been operational since 2019, entered the market with an all-electric vehicle (EV) fleet, challenging the dominance of giants like Uber and Ola. The company’s early expansion saw its services offered in Gurugram, Delhi and a subsequent extension to Bengaluru in 2022. The startup has gained significant traction thanks to funding from notable investors like BP Ventures, Mayfield India Fund, and Green Frontier Capital.
With a $25 million investment garnered in January from an impact fund based in Switzerland, BluSmart aims to enhance its charging infrastructure, an essential component for the sustainability of its EV fleet. Reporting a compound annual growth rate of 300% in the last three years, BluSmart has shown impressive growth, reaching an annual run rate of $60 million. Furthermore, the company’s ambitious plans include expanding its fleet of over 7,300 EVs, aiming to achieve a milestone of 10,000 EVs by the end of 2024.
This foray into Dubai represents BluSmart’s commitment to providing environmentally friendly transportation solutions on an international scale, potentially influencing the adoption of EVs in the ride-hailing sector across the region.
