India boasts of being the largest two-wheeler market in the world.
Recently, it has risen enormously, crossing across various verticals. Due to environmental and economic imperatives, recent upheavals have brought the segment to a fork in the road, and it is unquestionably poised for a total change.
A new beginning is being heralded by developing market and industry trends. This means the beginning of electric two-wheelers.
Electric bikes are becoming equal to their gasoline counterparts in terms of running costs, thanks to lowering battery prices. Efforts to improve charging infrastructure, battery changing, and part localization are also gaining traction.
Due to reduced pricing, lower operating expenses, and lower maintenance, customers have begun to switch in considerable numbers from petrol two-wheelers to electric two-wheelers. Two-wheelers are also better for the environment since it doesn’t run on fuel. When it comes to buying an electric two-wheeler, a large number of buyers consider this sustainability.
A group of young engineering graduates and a few industry professionals started on a mission to learn everything they could about this fast-rising sector.
A smartphone app, an electric kick scooter, and mobility infrastructure (a new concept for the industry) were built and implemented across Ahmedabad and Gandhinagar City after endless office hours and slices of pizza.
In January 2020, the company launched an initial 20 Booz Scooters. Let us find out more about them.
The Founding Story
Booz Scooters was founded by 24-year-old Rutvij Dasadia. He was born into a middle-class household and struggled academically until the 12th grade. However, he always had a keen sense of how things worked, especially cars. He acquired an interest in vehicles at a young age and immersed himself in it to the point that, at the age of ten, he could recognize any car by its taillight.
His love was automotive engineering, and he had always wanted to work on something related to transportation. He studied Automotive Engineering at GTU and graduated with an 8.2 CGPA in 2019.
He has completed a machine learning course at the University of London. He has worked with several motorcycle firms, including Menza Motors Pvt. Ltd., Volvo Cars, and Next Feature Transportation.
Dasadia founded Booze Scooters in Ahmedabad in 2017. The founder himself had a difficult time walking great distances. These distances were too short for a taxi and too lengthy for walking. Bicycles were not an option for him because they were exhausting at times and were frequently not well maintained.
He had to either drive his car or rent one. As a result, it was neither economical nor a pollution-free mode of transportation.
What Makes It Special?
Booz Scooters is an urban mobility startup that offers corporate parks, commercial parks, colleges, hotel and resort chains, residential townships, and tourist and public areas monthly subscription fleets of app-based electric kick scooters with on-site charging/docking infrastructure.
In collaboration with tour operators and hotel partners, it also offers electric bicycle excursions to travelers staying at their destination hotels.
Booz Scooters solve two major problems:
- Using fuelled cars for intra-campus transportation
- The discomfort of walking lengthy distances within a building
The distance between any two access points within a medium/large premises in India is too much to walk and too short to utilize a fuelled car therefore supplying rental electric vehicles solves both concerns at the same time.
Booze is a monthly membership service that includes everything from the charger to the outlet. It also provides ‘Booze Pay-Per-Way Rides’ in Public Places.
The Booz Scooters website has an informative video about how to travel in their scooters. According to the video, you just have to scan a QR code on the scooter through the mobile app.
Then you will be eligible to ride it between all pre-assigned Booz Stops within the premises of the location. Once you reach your destination Booz Stop, select “end ride” on the app, and you’re done!
Growth, Recognition, and Obstacles
Booz Scooters had to suspend its activities during the first wave of COVID-19, which began in March 2020 and ended in November 2020. Despite this having a stifling influence on the company’s development and ambitions, the whole team remained committed to what they had started.
Again, operations were suspended in March 2021 during the second wave of Covid-19. However, this time the business coped better by reflecting on previous issues and executing different business models. The founder asserts that Booz Scooters is returning stronger.
Getting Featured On Shark Tank
Booz Scooters appeared on Shark Tank India’s first season’s first episode. The founder offered 15% of the company for funding of 40 lakhs. Ultimately, sharks Vineeta Singh and Ashneer Grover made a deal with Booz Scooters to invest 40 lakhs for a share of 50%.
Being on Shark Tank was a boon for the company. People got to know more about electric vehicles and their potential, and Booz Scooters impressed the sharks with its unique business model.
Today, Booz Scooters has a net worth of 2.6 crore rupees. We will hopefully see it reach new heights in the future.
Plans For The Future
In the upcoming financial year (2023), Booz Scooters is reorganizing and concentrating the business more on business parks and commercial parks; right now, it is running pilots across multiple locations in Gujarat, with over 10,000 rides so far.
For gated community intra-campus transportation needs, Booz focuses on being India’s greatest urban mobility service provider.
