BluSmart Is Not Coming Back: Domain Up for Sale Marks the Final Chapter?

The writing seems to be on the wall for BluSmart. Unlike Paytm, which continues to battle its way through regulatory scrutiny, or BYJU’S, which despite massive debt and management crises is still attempting a revival, BluSmart appears to have reached the end of the road.

The clearest signal? Its official website domain “blu-smart.com” is now up for sale. Once a gateway to India’s first all-electric ride-hailing platform, the website today redirects visitors to a parked page inviting offers for acquisition. Isn't it a symbolic but telling marker of BluSmart’s collapse?

BluSmart Insolvency: A Fall Too Hard to Recover

Every startup stumbles. Paytm saw its market cap eroded post-IPO but is still restructuring, and BYJU’S has been through layoffs, funding crunches, and debt defaults yet continues to negotiate with lenders for survival. BluSmart, however, shows no signs of fighting back.

The troubles began when SEBI, in April, accused BluSmart’s cofounders — brothers Anmol Singh Jaggi and Puneet Singh Jaggi — of misutilising company funds in a “fraudulent manner.” The order not only barred them from leadership positions but also shattered investor trust.

By mid-year, BluSmart suspended cab bookings, leaving its much-hyped EV-only fleet grounded. Its app first became non-functional and eventually stopped working altogether. In August, insolvency proceedings were admitted against the company, with nearly 200 claims worth INR 500 Cr piling up from lenders, agencies, and even employees.

No Lifeline in Sight

Unlike Paytm and BYJU’S, both of which still have loyal customer bases and active apps to fall back on, BluSmart today has little left. Its service has been discontinued, its top leadership has quit, its fleet supplier Gensol is under its own financial distress, and now even its online identity — the domain name — is up for grabs.

Investors including bp Ventures and responsAbility had been exploring a $30 Mn revival plan earlier this year, but the silence since then speaks volumes. With regulatory probes still ongoing, and the Jaggi brothers facing continued scrutiny, no investor seems willing to touch BluSmart’s brand anymore.

A Symbol of Startup Fragility

The domain sale is not just a technicality — it’s a symbol. Startups, especially in India’s high-growth sectors, often rebound from crises. Paytm is reworking its financial model, BYJU’S is attempting debt restructuring, and many others have bounced back after near-collapse.

But BluSmart’s case seems different. When the very digital doorway to the company is auctioned off, the question isn’t whether it can rise again — but whether it ever will.

And for BluSmart, the answer appears final: the ride is over.