Last updated on 26 January 2024.
Find out everything about Rodbez’s pitch on Shark Tank India, founder Dilkhush Kumar, and the latest updates about the company!
Rodbez on Shark Tank India
This was the first deal done by OYO founder Ritesh Agarwal the Shark.
Here are the key details about their pitch on Shark Tank:
| Name | Rodbez |
| Founders | Dilkhush Kumar, Siddharth Shankar Jha |
| Episode | Season 3 Episode 3 |
| Ask | ₹50 Lakhs for 5% Equity |
| Deal | ₹20 Lakhs for 5% Equity (+ Debt) |
| Sharks | Vineeta Singh, Ritesh Agarwal |
| Status | In-business |
Rodbez connects taxi drivers on their one-way return route with the passengers. This way, the passengers will only have to pay the fare one-way and the driver will earn extra money. The idea is to organize the taxi market in Bihar and other rural areas.
Rodbez is not just an aggregate of taxi drivers. They are different from Ola & Uber because they connect the city to other towns/villages and not just inter-city.
They promise fixed income to the driver and refund the passenger in case their flight is missed. All of these are at affordable prices.
The founders wanted ₹50 lakhs for 5% equity. The goal is to reach 2,000 rides per day in the next few years. With the investment, they will get new drivers in their service.
Ritesh Agarwal was present in the shark’s panel this time. Pitcher mentioned that he got the idea of assigning Captain to their customers from OYO, just like how OYO does it.
The way they designed the mobile application, operated the business, and handled their service is truly remarkable. Sharks were interested in it, but this sector is still very difficult to invest in. The startup is still burning money and only a little runway is left.
That’s why Anupam, Peyush, and Aman went out. Vineeta and Ritesh still offered to be part of it.
Watch a small promo of the pitch here:
Vineeta Singh and Ritesh Agarwal invested in Rodbez on Shark Tank India. They poured in ₹20 lakhs for 5% equity, with the rest as a loan for 2 years.
About Founder Dilkhush Kumar
Dilkhush Kumar is the Founder and CEO of Rodbez. He started it with his co-founder Siddharth Shankar Jha, who acts as the CFO of the business.
Dilkhush was rejected from a job because he didn’t recognize the iPhone logo in his interview. He decided to do his work by learning to drive from his father, who was a bus driver. He pulled rickshaws, sold vegetables, and worked as an electricity or a driver.
He did many things before starting Rodbez. The name is how people pronounce ‘Roadways’ buses.
Before Rodbez, he started a similar business with the name AryaGo Transpotech. He achieved ₹80 lakh profit in that but he had to dilute a lot in the initial days. So, the only option was to do things on his own.
Rodbez was started in July 2022 with an investment by Mithila Angel Network for ₹4 crore valuation. He designed the App and hired engineers to make it.
After Shark Tank Updates
Founder Dilkhush was very happy with the deal. He said that he wanted the expertise of sharks more than money.
By the way, other businesses featured in this episode were Blix Toys and Homversity.
Finally, here is the official company product pitch: “Rodbez is Bihar’s largest mobility platform, providing the One-Way Taxi, Taxipool & Carpool service. The Rodbez offers mobility solutions by connecting customers to Taxi Driver. We are building a community where people can travel on a budget and the person who will drive will get a good amount.”
Takeaways
So now you know about Rodbez’s pitch on Shark Tank India and its founders. This pitch will inspire many young minds from Bihar.
And if you don’t know who I am? I am Ranish Chauhan a.k.a. Fulmino Fan, a Fan of the Shark Tank show.