India, Oct. 16 -- The BluSmart fiasco in 2025 opened up a gap in the Indian ride-hailing market. The startup had about 8,000 electric cars in its fleet but crashed and shut down in early 2025 as multiple corporate governance issues cropped up.

In the months since then, other EV-only ride-hailing companies have stepped in to fill the gap. Evera Cabs raised $4 Mn from Mufin Green Finance and following this, Kolkata-based Snap-E Cabs raised $2.5 Mn (around INR 22 Cr) in a bridge round.

Both companies are gunning to add to their EV fleet with this capital infusion, but BluSmart's collapse was Evera's gain in many ways.

The startup acquired 220 electric taxis previously operated by BluSmart in May this year. Later, it proposed a lease arran...