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Uber in Talks to Acquire EV Ride-Hailing Startup BluSmart

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Uber in Talks to Acquire EV Ride-Hailing Startup BluSmart

Uber Technologies is reportedly in early discussions to acquire BluSmart Mobility, a Gurugram-based electric vehicle (EV) ride-hailing startup. The potential deal comes as BluSmart’s parent company, Gensol Engineering, faces financial challenges and explores exiting the capital-intensive EV business.

BluSmart’s Unique Model

Founded in 2019, BluSmart operates an all-electric fleet of over 5,000 vehicles across cities like Delhi-NCR, Mumbai, and Bengaluru. Unlike competitors such as Uber and Ola, BluSmart directly owns its fleet and manages its charging infrastructure. While this model promotes sustainability and premium services, it has led to high operational costs.

Strategic Fit for Uber

Acquiring BluSmart could help Uber expand its EV footprint in India, complementing its “Uber Green” initiative and plans to deploy 25,000 Tata EVs. BluSmart’s fleet and charging network would provide a strategic edge as Uber competes with rivals like Ola and Rapido in the growing EV market.

Financial Pressures on BluSmart

Despite raising over $109 million in funding, BluSmart has struggled with profitability due to high capital expenditures and delays in government EV subsidies. Gensol Engineering’s liquidity issues have further fueled speculation about a potential sale.

Denial of Acquisition Talks

BluSmart has denied any ongoing discussions with Uber, calling such reports speculative. However, industry experts believe the acquisition could reshape India’s EV ride-hailing sector if finalized.

Conclusion

While no deal has been confirmed, Uber’s interest in BluSmart underscores the growing competition in India’s EV mobility space. If successful, this acquisition could strengthen Uber’s sustainability goals while addressing BluSmart’s financial challenges.

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4 Comments

4 Comments

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Kingdom of Innovation: Saudi Arabia Tops Global Startup Growth Rankings for 2025

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StartupStories

Saudi Arabia has been named the fastest-growing startup ecosystem in the world in the 2025 StartupBlink Global Startup Ecosystem Index, with a growth rate exceeding 200%—the only country in the global top 100 to achieve this milestone. This surge has earned the Kingdom the “Country of the Year” title, highlighting its transformation into a global innovation leader.

The report ranks 110 countries and 1,400 cities, with three Saudi cities—led by Riyadh—making the global top 1,000. Riyadh entered the world’s top 100 startup cities, posting a 134% growth rate, and solidifying its role as a regional tech hub.

Saudi Arabia now leads globally in HealthTech, nanotechnology, and transport tech, and ranks among the top in sectors like fintech, e-commerce, logistics, and gaming. The Kingdom’s rapid progress is fueled by Vision 2030, robust government support, and record venture capital investment, making it the most funded VC market in MENA.

Startups such as Tabby, Tamara, and Jahez exemplify this momentum, as Saudi Arabia emerges as a top destination for innovation and entrepreneurship.

 

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SC Grants Relief to Paytm’s First Games, Stays Massive GST Notice

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The Supreme Court of India has granted interim relief to Paytm’s gaming arm, First Games, by staying proceedings on a ₹5,712 crore GST notice issued by the Directorate General of GST Intelligence (DGGI). The notice, sent in April 2025, demanded GST for the period January 2018 to March 2023, based on the department’s view that 28% GST should be levied on the total entry amount, rather than the 18% GST currently paid on platform fees.

First Games challenged the notice in the Supreme Court, which on May 23, 2025, ordered a stay on all further proceedings until a final decision is reached. The dispute is part of a broader industry-wide debate over the correct GST treatment for real money gaming platforms, with similar cases pending before the court. Following the stay, Paytm shares rose nearly 2% in early trading, reflecting investor optimism.

The Supreme Court’s order provides temporary relief to First Games and signals ongoing judicial scrutiny of GST demands across India’s online gaming sector.

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Ex-100X.VC Partners Launch 247VC, Announce INR 250 Crore Fund for Seed-Stage Startups

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Former 100X.VC partners Yagnesh Sanghrajka and Shashank Randev have launched a new venture capital firm, 247VC, unveiling a maiden fund with a target corpus of INR 250 crore (about $30 million). The SEBI-registered Category II AIF includes a base of INR 200 crore and a INR 50 crore greenshoe option, and is focused on backing 30 seed-stage startups across India over the next three years.

 

247VC will target high-potential founders in sectors like deeptech, enterprise tech, consumption, and Industry 5.0, with initial cheque sizes ranging from INR 3 crore to INR 4 crore and follow-on capital for top-performing companies. The fund has attracted prominent early backers, including Sachin Tagra (JSW Ventures), Vivek Mathur (ex-Elevation Capital), and Shailendra Majmundar (Johns Hopkins University).

Sanghrajka and Randev, who together have invested in over 200 startups previously, aim to support ambitious founders building for scale and innovation, especially in emerging and underexplored markets. The launch comes as seed-stage investing gains momentum in India, with average cheque sizes rising despite a cautious funding environment.

 

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