Puneet Singh Jaggi (BluSmart)

Overview

Puneet Singh Jaggi is a prominent Indian entrepreneur best known as the co-founder of BluSmart, an electric ride-hailing service, and Gensol Engineering, a company focused on renewable energy solutions. His work with Gensol introduced innovative clean energy projects and contributed significantly to the growth of the solar energy sector in India. Alongside his brother Anmol Singh Jaggi, Puneet has been instrumental in integrating sustainability with technology, shaping the future of transportation and renewable energy in the country.

Recent Developments

April 2025: The Securities and Exchange Board of India (SEBI) implemented a ban preventing Puneet Singh Jaggi and his brother Anmol from holding any directorial roles in their companies due to allegations of financial mismanagement and fund diversion at Gensol Engineering.
- SEBI's investigation revealed that company funds intended for electric vehicle procurement were used for personal expenses, such as luxury real estate purchases.
- The Jaggi brothers were found to have diverted approximately Rs 262 crore, leading to stringent market restrictions imposed by SEBI.
2024: BluSmart, co-founded by Puneet and Anmol, raised considerable funding but struggled with operational challenges, leading to a strategic reevaluation of its business model.
- The company faced difficulties maintaining its asset-heavy model due to escalating costs and reduced availability of fresh funds.
- Despite this, BluSmart maintained its operational base in major Indian cities with an emphasis on sustainability.
2023: Prescinto, another initiative by Puneet, partnered with international firms to enhance global reach for clean energy technologies, focusing particularly on AI integration in energy efficiency.

Personal Information

Attribute	Information
Full Name	Puneet Singh Jaggi
Born	Panchkula, Haryana, India
Nationality	Indian
Occupation	Entrepreneur
Known For	Co-founder of BluSmart and Gensol Engineering
Net Worth	Not publicly disclosed
Education	Chemical Engineering, IIT Roorkee

Early Life and Education

Puneet Singh Jaggi was raised in Panchkula, Haryana, where he developed an interest in technology and the environment from an early age. His passion for sustainable development led him to pursue a degree in Chemical Engineering at IIT Roorkee, where he graduated with honors. During his time at IIT, he participated in several projects focusing on renewable energy, which laid the groundwork for his future entrepreneurial ventures.

Career and Notable Achievements

Throughout his career, Puneet Singh Jaggi has achieved significant milestones:

Gensol Engineering: Co-founded with his brother in 2007, Gensol emerged as a leading EPC company in the renewable energy sector, advising and executing solar projects across India and globally.
BluSmart: Launched in 2019, it became India’s first all-electric ride-hailing service, aligning with government initiatives for sustainable urban transport.
Prescinto Technologies: Founded in 2016, it focuses on AI-based solutions to optimize the performance of solar, wind, and energy storage projects worldwide.

Current Work and Impact

Though currently facing regulatory challenges, Puneet Singh Jaggi's work continues to influence India's clean energy and sustainable transport movements. Gensol and BluSmart were pivotal in integrating tech-driven solutions and innovating new business models for the betterment of urban infrastructure and environmental health.

Punit K Goyal

Puneet Singh Jaggi has been associated with Punit K Goyal, another entrepreneur focused on electric mobility. Their joint ventures have paved the way for advancements in environmentally friendly transport systems in India.

Anmol Singh Jaggi

Anmol, Puneet's brother, has been a co-partner in their entrepreneurial endeavors, sharing similar visions for clean energy and innovative environmental solutions. They have collectively expanded their influence through various successful projects and initiatives.

Gensol Engineering

Gensol Engineering, a brainchild of Puneet and Anmol, represents a substantial part of their professional success. The company is known for its extensive work in solar power project management and has consistently been at the forefront of India’s renewable energy landscape.

Conclusion

Puneet Singh Jaggi has played a critical role in the development of sustainable energy and electric mobility solutions in India. Despite facing recent challenges, his contributions towards cleaner and more efficient energy use have positioned him as a notable figure in the renewable energy sector. As regulatory issues are addressed, his ventures could potentially continue to lead and transform the environmental technology landscape in India, emphasizing sustainability and innovation.