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The Fall of Blue Smart Cabs

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Created November 20, 2025

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0:00

Are you unable to book a Blue Smart cab anymore? The company that once promised to

0:05

transform India's roads has suddenly vanished. So what went wrong with one of the

0:09

India's most hyped startups? Blue Smart founded in 2019 by Anmol Jaggi and

0:14

Puneet Goyal, partnered with GENSOL Engineering to lease electric vehicles. In 2024

0:19

SEBI discovered that GENSOL had taken a loan of 978 crore to buy 6,400 electric vehicles.

0:27

Yet only 4,700 were actually purchased. The remaining 262 crore was diverted towards luxury apartment,

0:34

family transfers, and other expensive goods. Once this came into light

0:39

the operation collapsed, sending shockwaves throughout the startup ecosystem and raising serious questions

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