How the Jaggi brothers misled investors and lenders while being cleantech poster boys

April 19, 2025

, By The Economic Times

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When BluSmart first hit the roads in June 2019, it made quite a statement. Positioned as India’s first all-electric ride-hailing service, it arrived with the promise of transforming urban mobility. For consumers tired of the incumbent app-based duopoly’s practice of exorbitant surge pricing, messy cars, and those frustrating “driver cancelled” notifications, BluSmart brought a breath of fresh (and emission-free) air.

The clean fleet of company-operated electric cars with salaried drivers (as opposed to driver-partners with varying degrees of…

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How the Jaggi brothers misled investors and lenders while being cleantech poster boys

April 19, 2025

, By The Economic Times

When BluSmart first hit the roads in June 2019, it made quite a statement. Positioned as India’s first all-electric ride-hailing service, it arrived with the promise of transforming urban mobility. For consumers tired of the incumbent app-based duopoly’s practice of exorbitant surge pricing, messy cars, and those frustrating “driver cancelled” notifications, BluSmart brought a breath of fresh (and emission-free) air.

The clean fleet of company-operated electric cars with salaried drivers (as opposed to driver-partners with varying degrees of…

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News

Play to Xcode lets you turn mockups into real apps

Next News

Chip giant TSMC sees net profit rise 60.3% in March quarter

The Economic Times

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