Booz Scooters, an innovative urban mobility startup based in Ahmedabad, India, has been making waves in the electric vehicle industry since its inception in 2017. Founded by Rutvij Dasadia, a young engineering graduate passionate about automotive innovation, Booz has become a significant player in the two-wheeler electric vehicle market. With a recent valuation of 2.6 crore rupees, Booz’s net worth has skyrocketed, showcasing the company’s impressive growth and potential.
Who is the Booz?
Booz Scooters is an urban mobility startup that provides app-based electric kick-scooter subscription services to corporate parks, commercial spaces, colleges, hotels, and residential areas. The company’s mission is to address the challenges of intra-campus transportation and the discomfort of walking long distances within large premises. Booz Scooters aims to revolutionize how people move around in urban and semi-urban environments by offering a convenient, sustainable, cost-effective transportation solution.
Who Is The Founder Of Booz?
24-year-old Rutvij Dasadia, a young engineer with a deep passion for the automotive industry, founded Booz Scooters. Dasadia, who grew up in a middle-class household, struggled academically in his early years but found his true calling in understanding the inner workings of vehicles. After completing his Automotive Engineering degree from GTU with an impressive 8.2 CGPA, Dasadia worked with several motorcycle companies, including Menza Motors Pvt. Ltd., Volvo Cars, and Next Feature Transportation.
During this time, Dasadia recognized the need for a convenient, eco-friendly, cost-effective transportation solution for intra-campus and short-distance commutes. This realization led him to found Booz Scooters in 2017 to provide individuals and organizations with a sustainable and efficient mobility option.
| Founder | Rutvij Dasadia |
|---|---|
| Age at founding | 24 years |
| Educational background | Automotive Engineering, GTU |
| Additional courses | Machine Learning, University of London |
| Work experience | Menza Motors Pvt. Ltd., Volvo Cars, Next Feature Transportation |
| Founding year | 2017 |
| Initial launch | January 2020 |
How Was The Shark Tank Pitch Booz?
Booz Scooters’ appearance on the first season of Shark Tank India was pivotal in the company’s journey. The founder, Rutvij Dasadia, pitched the business to the panel of experienced investors, offering 15% of the company in exchange for 40 lakhs in funding. Impressed by Booz’s unique business model and the founder’s vision, sharks Vineeta Singh and Ashneer Grover decided to make a deal, investing 40 lakhs for a 50% stake in the company.
The Shark Tank appearance was a significant boost for Booz Scooters. It provided the much-needed capital infusion and helped raise awareness about the potential of electric vehicles and the innovative solutions that Booz was offering. The exposure on the popular TV show also helped the company attract more customers and partners, further accelerating its growth.
Booz Shark Tank Update:
Since the successful Shark Tank pitch, Booz Scooters has continued to grow and evolve. The company has managed to navigate the challenges posed by the COVID-19 pandemic, adapting its business model and strategies to emerge stronger. Booz Scooters is now focusing on expanding its presence in business parks, commercial spaces, and gated communities, aiming to become India’s leading urban mobility service provider.
What Happened To Booz After Shark Tank?
After the Shark Tank investment, Booz Scooters has experienced significant growth and development. The company has scaled its operations, expanded its fleet of electric kick scooters, and established partnerships with various corporate campuses, commercial spaces, and residential communities. The Shark Tank investment has also allowed Booz to improve its technology, enhance the user experience, and build a more substantial brand presence.
Booz Net Worth:
According to the latest reports, Booz Scooters’ net worth is a remarkable 2.6 crore rupees. This valuation is a testament to the company’s rapid growth, innovative business model, and Shark Tank pitch success. Vineeta Singh and Ashneer Grover’s investment has fueled Booz’s expansion and helped the company solidify its position in the electric vehicle market.
Booz Growth and Operations:
Booz Scooters has experienced impressive growth since its inception in 2017. The company initially launched its services in Ahmedabad and Gandhinagar, providing a fleet of 20 electric kick scooters. Over the years, Booz has expanded its operations to other cities, forging partnerships with various organizations and establishing a strong presence in business parks, commercial spaces, and residential communities.
The company’s innovative business model, which combines app-based mobility services with on-site charging and docking infrastructure, has been critical to its success. Booz Scooters’ subscription-based service and convenience have resonated strongly with its target customers, driving the company’s growth and helping it stand out in the crowded electric vehicle market.
| Company Name | Booz Scooters |
|---|---|
| Location | Ahmedabad, Gujarat, India |
| Industry | Urban Mobility, Electric Vehicles |
| Offerings | – Monthly subscription fleets of app-based electric kick scooters with on-site charging/docking infrastructure. |
| – Electric bicycle excursions in collaboration with tour operators and hotel partners. | |
| Unique Feature | Provides solutions for intra-campus transportation and walking discomfort within large premises. |
Booz Marketing and Sales:
Booz Scooters has adopted a multi-pronged marketing and sales strategy to promote its services and attract new customers. The company has leveraged digital channels, including its website and social media platforms, to create brand awareness and engage with its target audience. Additionally, Booz has forged strategic partnerships with corporate entities, educational institutions, and residential communities, allowing it to reach a broader customer base and tap into new market segments.
The company’s participation in Shark Tank India has also played a significant role in its marketing efforts, as it has helped to raise the brand’s profile and showcase its innovative solutions to a national audience.
Booz Social Media Presence:
Booz Scooters has a solid social media presence, with active accounts on platforms like Facebook, Instagram, and LinkedIn. The company uses these channels to share service updates, showcase its electric kick scooters, and engage with its customer base. Booz’s social media content highlights its mobility solutions’ convenience, sustainability, and cost-effectiveness and the company’s commitment to innovation and environmental responsibility.
Booz Interesting Facts:
- Booz Scooters was founded by 24-year-old Rutvij Dasadia, who had a keen interest in automotive engineering from a young age.
- The company’s name, “Booz,” is derived from the Hindi word “Bhaag,” meaning “to run” or “to move.”
- Booz Scooters has partnered with various organizations, including corporate parks, commercial spaces, hotels, and residential communities, to provide its app-based electric kick scooter subscription services.
- The company’s electric kick scooters are designed to be user-friendly, with features such as GPS tracking, onboard diagnostics, and app-based unlocking and payment systems.
- Booz Scooters’ success on Shark Tank India has helped to raise awareness about the potential of electric vehicles and the innovative solutions being developed by Indian startups.
What’s Next For Booz
Looking ahead, Booz Scooters has ambitious plans for the future. The company focuses on strengthening its presence in business parks, commercial spaces, and gated communities, aiming to become India’s leading urban mobility service provider. Booz is also planning to expand its fleet of electric kick scooters and explore the integration of advanced technologies, such as autonomous features and battery swapping capabilities, to enhance the user experience and improve the overall efficiency of its operations.
Final Words:
Booz Scooters’ impressive net worth of 2.6 crore rupees is a testament to the company’s ability to innovate, adapt, and capitalize on the growing demand for sustainable transportation solutions. With its unique business model, strong leadership, and commitment to delivering high-quality mobility services, Booz Scooters is well-positioned to continue its growth trajectory and cement its position as a key player in India’s electric vehicle ecosystem.
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