RodBez Shark Tank India Season 3

What Happened to RodBez After Shark Tank India?

RodBez is a taxi booking platform focused on addressing the challenges that people face due to unorganized taxi services. The company has worked on many issues faced by people and found various solutions so that they have hassle-free journeys at a budget price.

More About RodBez

RodBez provides various services through its platform and mobile applications. These services include one-way taxi, taxi pool, and carpool services. Usually, people have to pay money for a two-way trip as it is hard for taxi drivers to find a return passenger.

To help with the issue and allow people to save up to 40% in commute charges, RodBez connects two people commuting in the opposite direction.

Founders of RodBez

Dilkhush Kumar and Siddharth Shankar Jha are the co-founders of RodBez, a Bihar-based taxi booking platform.

RodBez Shark Tank Pitch and Updates

Both the co-founders Dilkhush Kumar and Siddharth Shankar Jha, appeared on Shark Tank India season 3 and shared details about their platform. They also shared about their journey of building the complete business model by learning through YouTube videos.

After the initial pitch, RodBez’s founders demanded INR 50 lakhs for 5% equity at a valuation of INR 10 crores.

In their Shark Tank Pitch, they also shared more details about RodBez’s business model and how they are competing with big brands like Ola and Uber.

Here are three main services that they shared:

  • One-way taxi service – 40% lower rates than other competitors
  • Taxi Pool – 60% savings for travellers
  • Taxi Share – this also gives savings for the customers

Apart from that, the founders also shared their career journey and how they started the company. Earlier, they were working on a similar idea but with a different brand name.

Because of some reasons, they had to start a new brand RodBez, and at present, they are making around 20,000 Rupees per month commission.

Below are some major interactions that they had with the Sharks:

  • Peyush Bansal was so impressed by their RodBez’s Shark Tank Pitch that he said ‘You both are genius’.
  • Vineeta Singh wanted to know their approach to scaling the business at a later stage.
  • Anupam Mittal was impressed by them but he was not sure how they would be able to scale this business profitably.
  • Ritesh Agarwal was also happy with their investment pitch and learned a lot from their local yet smart approach.

After all the discussion the founders got only one deal from Vineeta Singh and Ritesh Agarwal together and they accepted the deal.

Company Name RodBez
Founders Dilkhush Kumar and Siddharth Shankar Jha
Headquarters Patna, Bihar
Founded Year 2022
Business Taxi Booking
Profitability No
Shark Tank Episode Season 3 – Episode 3
Asked For INR 50 lakhs for 5% equity
Deal INR 20 lakhs for 5% equity and INR 30 lakhs debt for 2 years
Sharks Invested Vineeta Singh and Ritesh Agarwal
Valuation Given INR 4 Crores
Website Click Here

Rodbez got a deal ofΒ INR 20 lakhs for 5% equity and INR 30 lakhs debt for 2 years from Vineeta Singh and Ritesh Agarwal.

Frequently Asked Questions About RodBez

After their appearance on Shark Tank India Season 3, people tried to find more information about RodBez. So here are some of the frequently asked questions about them.

1. Who Is The Founder of RodBez?

Dilkhush Kumar and Siddharth Shankar Jha are the co-founders of RodBez, a Bihar-based taxi booking platform.

2. Is RodBez From Shark Tank India profitable?

No, unfortunately, RodBez is not yet a profitable company and has a monthly burn of around 1.5 lakhs.

3. Why Other Sharks Did Not Invest in RodBez?

There were various reasons for other Sharks did not invest in RodBez. Here are a few of them:

  • Anupam Mittal is already an investor in various mobility startups and thus he knows how hard it is to scale such a business.
  • Peyush Bansal suggested they raise investment from their old investors themselves for a better deal.
  • Aman Gupta left the deal because Vineeta and Ritesh had already given a better offer for them.

4. What happened to RodBez after the Shark Tank?

RodBez was able to secure investment in Shark Tank India and the funds gave them enough runway to make better decisions to scale their business.

4. What Is The Valuation of RodBez?

RodBez received funding from Vineeta Singh and Ritesh Agarwal at a valuation of 4 Crores.