Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Milagrow Launches India’s First AI-Powered Self-Emptying Robotic Vacuum Cleaner

    August 21, 2025

    WhatsApp to Introduce Voicemail-Like Feature for Missed Calls: How It Works

    August 21, 2025

    iOS 18.6.2 Update: Apple Fixes Major Security Flaw

    August 21, 2025
    Facebook X (Twitter) Instagram YouTube
    • Subscribe to the Magazine
    • Join our Newsletter
    • Influencer News
    Friday, August 22
    Facebook X (Twitter) Instagram Pinterest YouTube Tumblr LinkedIn
    Exhibit TechExhibit Tech
    • Home
    • Tech & AI
      • Tech News
      • Tech Launches
      • Tech Features
      • Gaming
      • AI & Robotics
      • Social Media
      • Cybersecurity
      • FinTech
      • Crypto
      • Space
      • Software & Apps
    • Reviews
      • Smartphone Reviews
      • Smartwatch Reviews
      • Headphone Reviews
      • Laptop Reviews
      • Tablet Reviews
      • Earbud Reviews
      • Camera
      • Speakers
      • PC components
      • Accessories
      • Best TV Reviews in India – Find Your Next Screen with Exhibit.tech
      • Compare the Best Gadgets in India – Smartphones, Laptops, Wearables & More
      • Best Gadget to use
    • Auto
      • Auto News
      • Auto Reviews
      • Auto Tech
      • Vehicles
        • Cars
        • Bikes
    • Deals and Offer
    • Lifestyle
      • Travel
      • Entertainment
        • Fashion
        • Sports
        • OTT
        • Music
        • Movies
      • Watches
      • Health
      • Sneakerhead
      • Lifestyle Features
    • Guides
      • Explained
      • How To’s
      • How Big Is
      • Tips and Tricks
      • Screw Ups
    • Interviews
      • Creators
      • Tech Talks
      • Celebrities
      • Top 100 Leaders
        • Tech & Auto 2025
      • Founder’s club
      • Petrol Head
      • Marketing Minds
      • Editor’s note
    • Events
      • Influencex Awards
        • InfluencEX Winner 2024
        • InfluencEX Winner 2023
      • Exhibit Tech Awards
        • Tech Awards Winners 2024
        • Jury 2024
        • Tech Awards Winners 2023
      • Tech Fashion Tour
      • TopGear India Awards
    Exhibit TechExhibit Tech
    Home >> Tech News >> India’s Uber Rival BluSmart Suspends Operations After Co-Founder Questioned
    Tech News

    India’s Uber Rival BluSmart Suspends Operations After Co-Founder Questioned

    By Aadithya HarishApril 19, 20253 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Blusmart users stranded as EV cab service shuts down
    Blusmart users stranded as EV cab service shuts down
    Share
    Facebook Twitter LinkedIn Pinterest Email

    BluSmart, once hailed as a futuristic, electric alternative to conventional cab services like Ola and Uber in India, is now grappling with a severe financial crisis. If you’ve been following tech news or the finance section on social media, chances are you’ve come across updates about BluSmart’s uncertain future.

    Blusmart with cars

    From High-Tech Cab Service to Uncertain Future

    Originally positioned as a clean-energy ride-hailing solution in metro cities like Bengaluru and Delhi, BluSmart now finds itself unable to fulfill its core service offerings. Although the BluSmart app is still available for download, users report being unable to book rides, access wallet funds, or reach customer support—clear signs of a systemic breakdown.

    Is BluSmart Officially Shutting Down?

    As of now, BluSmart has not released an official statement confirming a shutdown. However, media reports suggest that the company is moving away from the ride-hailing business model and instead transitioning toward a fleet partnership model, potentially involving Uber. Around 700 to 800 electric vehicles from BluSmart’s fleet are expected to be integrated into Uber’s platform. While no fixed timeline has been disclosed, this move indicates a strategic pivot.

    This development comes in the wake of several high-level resignations: BluSmart CEO Anirudh Arun, Chief Business Officer Tushar Garg, and Chief Technology Officer Rishabh Sood all exited the company recently, pointing to internal turmoil and financial distress.

    Why Has BluSmart Suspended Services?

    The suspension of services is closely linked to an ongoing SEBI investigation into Gensol Engineering, the financial and EV leasing partner of BluSmart. Founded by Anmol and Puneet Jaggi, who also co-founded BluSmart, Gensol is under scrutiny for allegedly misusing over ₹200 crore in government-sanctioned electric vehicle loans.

    These funds were intended for the procurement of 6,400 EVs, but only 4,704 were reportedly delivered. The rest of the money was allegedly diverted for personal and luxury expenditures. Shockingly, around ₹25.76 crore was allegedly redirected by Anmol Singh Jaggi to personal accounts and affiliated entities. One notable transaction involved a payment to Third Unicorn, a startup by Ashneer Grover.

    As a result, SEBI has barred Gensol and related individuals from participating in the securities market and disqualified the Jaggi brothers from holding executive roles in listed companies. This regulatory crackdown has severely impacted BluSmart’s leadership and operational continuity.

    Also Read: EV Charging Startup IPEC Secures $3 Million Funding from Nikhil Kamath’s Gruhas

    Impact on BluSmart Users

    For regular users in cities like Delhi and Bengaluru, the most immediate concern is the Blu Wallet. Unlike competitors Ola and Uber, BluSmart operated on a prepaid wallet system, where users loaded funds in advance before booking rides. With services now halted without notice, users find themselves unable to withdraw or utilize their wallet balances.

    The app’s Help section is currently the only available option for users seeking refunds. To initiate the process:

    • Navigate to the Blu Wallet section in the app.
    • Respond “No” to the FAQ question, “Does this resolve your issue?”
    • This will open a support window where you can request a refund.

    Unfortunately, user feedback has been largely negative, with complaints about delays, lack of communication, and an unfriendly refund process.

    Conclusion

    BluSmart’s fall from grace is a cautionary tale of how internal financial mismanagement and regulatory probes can derail even the most promising startups. For now, users are left with limited options and unanswered questions. Whether the partnership with Uber materializes or not, BluSmart’s brand reputation may take a long time to recover if it ever does.

    Check out the Latest Tech News

    EV
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    WhatsApp to Introduce Voicemail-Like Feature for Missed Calls: How It Works

    August 21, 2025

    iOS 18.6.2 Update: Apple Fixes Major Security Flaw

    August 21, 2025

    Google Pixel 10 Series Gets Updated Gboard With AI Writing Tools and Voice Commands

    August 21, 2025

    Comments are closed.

    Top Posts

    WhatsApp to Introduce Voicemail-Like Feature for Missed Calls: How It Works
    August 21, 2025
    iOS 18.6.2 Update: Apple Fixes Major Security Flaw
    August 21, 2025
    Google Pixel 10 Series Gets Updated Gboard With AI Writing Tools and Voice Commands
    August 21, 2025
    Apple to Ship All iPhone 17 Models from India for the First Time
    August 20, 2025
    Elista Opens New Manufacturing Facility in Kadapa, Andhra Pradesh
    August 20, 2025
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • Twitter
    • Instagram
    • Pinterest
    • LinkedIn
    • Reddit

    Subscribe to Updates

    Latest Posts
    Tech Launches

    Milagrow Launches India’s First AI-Powered Self-Emptying Robotic Vacuum Cleaner

    By Shintu DhangAugust 21, 2025
    Tech News

    WhatsApp to Introduce Voicemail-Like Feature for Missed Calls: How It Works

    By Aadithya HarishAugust 21, 2025
    Tech News

    iOS 18.6.2 Update: Apple Fixes Major Security Flaw

    By Aadithya HarishAugust 21, 2025

    Exhibit.Tech, we’re your one-stop destination for everything tech! Whether it’s breaking news about the latest launches from giants like Sony, Vivo, Apple, Huawei, OnePlus, Sennheiser, Poco, and more, or in-depth reviews of mobiles, smartwatches, headphones, TVs, and earbuds – we’ve got you covered.

    Our reviews go beyond the surface, highlighting the pros and cons to help you make informed buying decisions. We’re here to simplify your tech journey with practical tips, tricks, and comprehensive “how-to” guides across a wide range of topics.

    Think of us as your friendly tech companion, helping you stay updated and make sense of the ever-evolving tech world with clarity and ease. At Exhibit.Tech, we make tech work for you!

    Most Popular

    World’s First Pregnancy Robot: China Developing Humanoid with Artificial Womb

    August 18, 2025

    How Motion Enhances Smart Home UX

    August 13, 2025

    What Fits My Pocket – Budget ₹35,000

    August 11, 2025
    Our Pick

    Turn Your MacBook into a Digital Weighing Scale with TrackWeight

    July 28, 2025

    Exclusive Chat with Mohal Lalbhai – Founder and CEO of Matter

    July 26, 2025

    Marketing Minds – Vishesh Magoo, Assistant Director (Head of Camera Business Unit), Canon India

    July 8, 2025
    Facebook X (Twitter) Instagram Pinterest YouTube
    • About Us
    • Careers
    • Contact Us
    © 2025 Exhibit Technologies | All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.

    Subscribe to our Newsletter

    Get the most exciting tech news, trends, and breakthroughs delivered straight to your inbox.