Shark Tank Metro Ride
In this episode of Shark Tank India Metro Ride, an AI-based EV vehicle booking platform presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till end.
|Company name||Metro Ride|
|Founders||Kaaman Agarwal and Girish Nagpal|
|Ask||₹75 lakhs for 1% equity|
Metro Ride Founder
Kaaman Agarwal and Girish Nagpal are from Delhi.
Kamal has a tech background. He worked in Oracle for 6 years and went to the US. He has worked there for 12 years.
Girish has worked for 15 years in the corporate world.
About the company Metro Ride
People get up in the morning and get dressed for the office or to start a new day. But when they step out they face a common problem of rejection like auto-walls refuse to go, app based taxis get cancelled etc. In order to solve this problem Metro Ride was found. Metro Ride is an AI-based 100% electric-based platform that connects daily commuters to public transport. Through this app one can book 2-wheelers and 3-wheeler electric vehicles which can drop you to the nearest metro or rail station. They have women drivers in their fleet. Their services are available in Delhi, Bangalore and Hyderabad. They have served 6 lakhs customers and their app is available on Android and iOS. The average waiting time is 2 minutes and for the maximum application, it is 12-15 minutes. They are not competing with public transport. They are serving to publish transport as they have collaborated with Hyderabad metro services so that one can book metro ticket from the Metro Ride app. They have several OEMs who serve vehicles through their application. In order to cope up with the non-pick time they have a B2B model where the sales is 35% from that. They have boarded 150 vehicles and have a total of 3000 to 3250 rides per day. The booking is 92% from share and 8% is private.
Ask by the Owner of Metro Ride
Owners asked for 75 lakhs rupees for 1% equity.
Metro Ride Sales And Revenue
In FY 21-22 the sales were 54 lakhs rupees and last month the sales were 25 lakhs rupees. They work on a minimum guarantee model.
Offers and counter offers
No offers and counter offers were there as no sharks were interested in the deal.
Metro Ride Final deal
No deal was finalized with any sharks.