Originating from Saharsa, Bihar, the RodBez pitch in Shark Tank India Season 3 was marked by a unique blend of innovation and social impact. The startup, through its mobile application, aimed to redefine the mobility landscape by leveraging empty return trips, thus offering a dual benefit: cost-efficiency for passengers and increased revenue for drivers.
The founders, Dilkhush Kumar and Siddharth Jha, presented their vision with compelling enthusiasm, underlining not only the economic advantages but also the environmental benefits of their model. Their proposition, rooted in practicality and sustainability, sought to address the inefficiencies in the traditional taxi system, showcasing a forward-thinking approach to everyday transportation challenges.
About RodBez
| Startup / Company Name | RodBez |
| Industry | Mobility/Transportation |
| Founder | Dilkhush Kumar and Siddharth Jha |
| Product / Service | Mobile Application |
| Started in | 2022 |
| Revenue | 80 lakhs (Expected) 2023-24 |
About The Pitcher
| Number of Presenters | Two presenter |
| Name of Presenters | Dilkhush Kumar (Founder) and Siddharth Jha (Co-founder) |
| Pitchers City | Saharsa |
| Pitchers State | Bihar |
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RodBez Pitch Details
| Shark Tank Episode | Episode 2 |
| Original Ask Amount | ₹50 Lakh. |
| Original Ask Equity | 5% |
| Original Valuation | ₹ 10 crores |
| Offer Received | ₹20 Lakh for 5% equity was made, with the remaining ₹30 Lakh as debt at 12% interest.(Ritesh and Vineeta) |
| Final Deal Amount | 20 lakhs + 30lakhs Debt at 12% interest for 2 years |
| Total Deal Equity | 5% Equity |
| Sharks in Deal | Ritesh and Vineeta |
Solutions Offered
The business offers a solution to optimize taxi services by connecting drivers and passengers through a mobile app. This approach aims to utilize empty return trips, making rides more economical for passengers and increasing earnings for drivers.
- Optimized Ridesharing: The app facilitates the connection between drivers and passengers, focusing on utilizing empty return trips to ensure no ride is wasted, leading to more efficient use of resources.
- Cost Savings for Passengers: By matching passengers with drivers already planning a return trip, the service reduces the cost of travel for passengers, making it a more affordable option compared to traditional taxi services.
- Increased Earnings for Drivers: Drivers benefit from additional fares on what would otherwise be non-revenue generating return trips, thus maximizing their earning potential.
- Environmental Benefits: The reduction in empty return trips contributes to lower carbon emissions, aligning with broader environmental sustainability goals by reducing the ecological footprint of taxi services.
- User-Friendly Interface: The app is designed to be intuitive and user-friendly, ensuring that both drivers and passengers can easily navigate and use the service effectively.
- Safety and Reliability: The platform incorporates safety features and reliability checks to ensure a secure and dependable service for its users.
- Community Building: By bringing drivers and passengers together in a shared economy model, the service fosters a sense of community and mutual benefit among its users.
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Lesser Known Facts About RodBez
- Founders’ Background: Dilkhush Kumar and Siddharth Jha, with a vision to revolutionize the taxi industry through technology.
- Company Mission: Roadbez aims to optimize taxi services by utilizing empty return trips, offering economical travel options and higher earnings for drivers.
- Innovative Approach: The company leverages a mobile app to connect drivers with passengers, focusing on sustainability and efficiency.
- Shark Tank Appearance: Roadbez was presented in Shark Tank India Season 3, highlighting its unique solution to transportation challenges.
- Original Ask: The founders sought an investment, details of which encapsulate their valuation and equity proposition.
- Engagement with Sharks: The pitch sparked interest, leading to negotiations that reflect the potential and value seen by the investors.
- Outcome: The final deal terms, including investment and equity, showcased the faith in Roadbez’s business model and future growth.
- Impact: Roadbez’s model aims for a significant environmental and economic impact by reducing unnecessary travel and optimizing existing routes.
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