Lead Story

Outlook Start-Up Outperformers 2023: CleanTech Top 3

The top three growth-stage start-ups in the cleantech sector

01 BluSmart

Charging Electric Mobility Ambitions

BluSmart, a cleantech company founded in 2019, has positioned itself as a significant player in India’s electric vehicle (EV) ride-hailing and charging infrastructure segments.

“BluSmart is a solution to several urban mobility challenges, such as ride cancellations, inconsistent fares and unclean vehicles,” says Anirudh Arun, co-founder and COO. The company claims to have completed 8.8 million electric vehicle trips, covering 300 million clean kilometres with its fleet of 5,000 EVs. Its business encompasses EV ride-hailing, an expansive EV charging superhub infrastructure, a proprietary tech stack and a platform for driver-partners. It operates 30 strategically situated EV charging hubs in Delhi NCR and Bangalore, covering an area of more than one million square feet. These hubs can simultaneously charge up to 300 EVs in their facilities.

The company aims to enhance its EV fleet to 9,000 by FY24.

02 Hero Electric

Adding Momentum to Green Mobility

Hero Electric is a leading player in the country’s electric two-wheeler industry, offering a diverse selection of electric scooters for individuals and industries.

Through a strategic partnership with the Mahindra Group, the company has a manufacturing unit in Ludhiana, Punjab, and a shared facility in Pitampura, Madhya Pradesh. According to its MD Naveen Munjal, the company aims to revolutionise mobility with sustainable solutions. “Our USP is innovation, sustainability and customer-centric solutions. We fuse tech and mobility for eco-friendly products that enhance user experience. We stand out for our commitment to environmental sustainability and affordable solutions,” he adds.

The company has more than 850 sales and service outlets in India, a vast charging network and a substantial trained roadside EV mechanics community. It has many industry firsts to its credit, including the development and launch of the first lithium-ion electric scooters in India and the promotion of unique charging stations for on-the-go charging. It has over six lakh electric two-wheelers on Indian roads.

03 Log9 Materials

Going Green with Deeptech

Log9 Materials, a deeptech battery technology company, was founded in 2015. The start-up, according to co-founder Pankaj Sharma, is a material science-based tech company crafting solutions with expertise in designing air filters, oil filters, ultra-capacitors and cells. According to Sharma, Log9’s in-house development ensures full control over quality and performance. The company claims that its batteries are fast-charging and long-lasting. The company has also rolled out a series of electric vehicle batteries that get charged quickly. Log9 engineers provide nationwide support.

Running a deeptech company in India, says Sharma, comes with its challenges, like securing adequate capital and creating new product categories. “Aligning growth with government policies and building a skilled talent pool are ongoing challenges. Talent acquisition, development and growth are a top priority for Log9,” he adds.