Image Credits: Shark Tank India
Last updated on 12 January 2022. Find out everything about Booz Scooters’ pitch on Shark Tank India, founder Rutvij Dasadia and the latest updates about his company!
Booz Scooters on Shark Tank India
The startup was founded in 2017. It was part of episode 01 of Shark Tank’s Indian version.
Here are the key details about their pitch on Shark Tank India:
| Business Name | Booz Scooters |
| Founder | Rutvij Dasadia |
| Episode no. | Season 01 Episode 01 |
| Ask | ₹40 Lakhs for 15% equity |
| Accepted Offer | ₹40 Lakhs for 50% equity |
| Shark | Vineeta Singh and Ashneer Grover |
| Current Status | In-business |
Booz Scooters sets up an electric scooters ecosystem to make travel inside indoor properties easier. They install all the infrastructure needed, manage Charging stations and also provide a Mobile application for customers.
It can be used by commercial parks, corporate offices, tourist spots, hotels, resorts and educational campuses. This makes intra-travel in such spaces easier.
What makes them different is that they do not manufacture or sell scooters, they just provide this service and manage the operations.
They got their first project in late 2019 and had a revenue of around ₹4 lakhs before the show.
The entrepreneur asked for ₹40 lakhs in return for 15% of his business. He wanted to expand to more premises in Goa with this funding.
Namita, Anupam and Aman were out very early because they were not attracted to the business model.
However, Vineeta was very interested but she wanted to partner with Ashneer because he had more knowledge in this space. Both offered the money for half of the pie.
The pitcher seemed a bit stressed after this aggressive offer, but he didn’t want to exit empty-handed. He consulted with his father before accepting the deal.
In the end, sharks Vineeta Singh and Ashneer Grover closed the deal for 50% stakes by giving him ₹40 lakhs.
About Rutvij Dasadia
Rutvij Dasadia is the founder of Booz scooters. He did his graduation in Automotive engineering from Gujarat Technological University (GTU). He and his father had put around ₹9 lakhs into this startup.
His consistent reply of “Haa” on the show, made him popular among fans.
The business is headquartered in Ahmedabad, Gujarat and legally branded under ‘HelloSkate Mobility LLP’.
He got his project from Sabarmati Riverfront Park in December 2019, which is one of the first electric scooter systems approved by a government civic body (Ahmedabad Municipal Corporation) in South Asia.
One more important thing about this business is that the startup is supported by Gujarat University Startup & Entrepreneurship Council (GUSEC).
After Shark Tank Updates
Ashneer and Vineeta are the best sharks they can get on the show. They are more drawn toward the entrepreneur’s vision and commitment than the business itself. This will help him switch the model if he wants in future.
Also, giving 50% is a big decision for any founder but getting good partners is better than retaining equity. One of the best quotes from Mark Cuban of Shark Tank USA was “60% of a watermelon is better than 100% of a grape”, which fits perfectly here.
Even Rutvij is very happy with his decision of giving 50% of his company.
He said on this deal after the show that “Many asked me why did you give away half of the company to two sharks and I conveyed that it’s not about giving away the half but the company is now full by having 2 super sharks Ashneer and Vineeta onboard and with their experience and connects, Booz will definitely be India’s best urban mobility experience company and the recovery from the pandemic will be even faster” (via GUSEC).
By the way, other businesses pitched in the episode were Bluepine Foods and Heart up my sleeves.
Let’s now look at the official company pitch to summarize it: “Booz becomes the first Civic Body approved operator in South Asia to deploy such electric kick scooters for city public spots.”
Takeaways
So now you know about the pitch of Booz Scooters on Shark Tank India’s first episode and its founder Rutvij Dasadia. Wishing them success!
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also an Indian fan of Shark Tank.