Transportation – Scoopearth: Leading platform for startups & business news https://www.scoopearth.com Embrace the World of Start-ups, Technology, Business, Finance and Economy Thu, 23 Jan 2025 13:11:33 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.2 https://www.scoopearth.com/wp-content/uploads/2023/11/cropped-favicon-sc-96x96.png Transportation – Scoopearth: Leading platform for startups & business news https://www.scoopearth.com 32 32 Cyient sells over 1 crore shares of Cyient DLM in Rs 900 crore block deal https://www.scoopearth.com/cyient-sells-over-1-crore-shares-of-cyient-dlm-in-rs-900-crore-block-deal/ Wed, 21 Aug 2024 06:30:59 +0000 https://www.scoopearth.com/?p=344110 In the case of Cyient Limited, Cyient DLM, its subsidiary was traded in a block deal involving 14.5% of its stake flipped. For instance, JPMorgan advised Cyient to consider opportunities for M&A particularly in the automobile industry. The brokerage also retained an ‘overweight’ stance on Cyient with a price estimate of Rs 2,100.

Image Source: economictimes.indiatimes.com  

Cyient’s Core Business

Cyient is an Indian multinational organization that focuses on the global engineering services industry. Cyient is a leading engineering solutions and services provider for industries including aerospace, defense, transportation, telecom, and energy. These include product design, manufacturing engineering, and system integration. Cyient provides geospatial solutions such as Geographic Information Systems or GIS, remote sensing, and spatial data analysis. They help clients in dealing with location-related information for infrastructure development, environmental evaluation, and property management.

Cyient provides network value to telecom, utilities, and other related industries by enhancing network performance, controlling field operations, and adopting digital models. Network engineers specialize in network planning, development, and support. Cyient enters the semiconductors space with design tests and manufacturing verticals.

They also offer services based on the IoT and connected gadgets. More specifically, Cyient uses data analytics to assist clients in different industries with relevant information. It extends from accuracy assurance to predictive supply chain management. Cyient primarily focuses on the sectors of engineering, technology, and data services for domestic and international clients.

Transaction and Net Worth Details

On August 21, 2024, it is estimated that about 1.2 crore shares of Cyient DLM were offered for sale in a block deal. The price at which the transaction occurred was Rs 766 per share and the total worth of the transaction was Rs 883.20 crore. The probable seller in this transaction was Cyient since Cyient DLM was promoted by the company. Cyient DLM generated 17% of Cyient’s total revenue for FY24 at Rs 1,192 crore. The net worth of Cyient DLM as of March 31, 2024 was Rs 909 crore which was considered 20 percent of Cyient’s net worth.

Stake Sale

Cyient said that the stake sale proceeds would be utilized to cater to capital needs, fund the newly launched semiconductor segment, use for organic/inorganic investments, and reduce company liabilities. Following the stake sale, Cyient’s ownership in Cyient DLM will decrease from 66% to 52.16%. The implication of high trade volumes is an indication that the block deal was effected properly.

Perspective of JPMorgan

A brokerage firm JPMorgan also endorsed Cyient on its divestment strategy. They mentioned that the DET business of Cyient involved in the semiconductor vertical has $47 million by the end of June. This liability could be partially retired from the proceeds that would have been generated through the stake sale. 

Conclusion

Cyient’s stake sale in its subsidiary is an ideal model to highlight the company’s growth strategy, debt reduction, and investment strategy in new areas. The stock market participants and industry pundits will follow this move to gauge its implications on Cyient’s prospects. 

]]> E-mobility Startup Kazam Bags $8 Mn In Series A3 Round Led By Vertex Ventures SEA & India https://www.scoopearth.com/e-mobility-startup-kazam-bags-8-mn-in-series-a3-round-led-by-vertex-ventures-sea-india/ Mon, 12 Aug 2024 07:30:55 +0000 https://www.scoopearth.com/?p=343951 Kazam is relatively new to the e-mobility industry and recently closed a Series A3 funding round of $8 million. The investment was spearheaded by Vertex Ventures Southeast Asia and India with the support of Avaana Capital, Alteria Capital, and other investors. 

Full-Stack Platform

Kazam has a unique opportunity to address different stakeholders in the e-mobility value chain. Kazam has a user-friendly platform that offers the best OEM and fleet operator solutions. It helps to manage the charging infrastructure for electric vehicles while solving essential tasks in the field. The “charging in a box” solution is imperative for the company and its asset owners. It helps in the development of stable and reliable networks of charging points for EVs thus supporting the use of electric vehicles. 

Remarkable Growth

Kazam has grown so much over the past year that one cannot help but sit up and take notice. The startup has seen its monthly transactions and EV kilometers fueled grow tenfold over the time of the article. Kazam supplies over 15 million EV kilometers monthly through its regional and international clients from the Global South region. 

Localization Strategy of Kazam

The localization plan formulated by Kazam comprises modifications of the business model, marketing, and operations that the company will employ in Southeast Asian countries. Kazam does a detailed study of each country regarding the e-mobility environment. This involves the achievements of consumer insights, regulatory requirements, and emerging rivals. Charging solutions offered by the startup are flexible to ensure they are suitable for the local environment. For instance, it may provide different charging speeds or methods of payment that suit the market conditions.

It is important to engage with local companies, governments, and other industry stakeholders. Such alliances help to enter a new market, meet legal requirements, and expand the network. This is achieved through Kazam’s understanding that their communication, user interface, and customer support should be in local languages. Communication helps people trust what they are being offered and embrace change. It is important to adapt to the local market price structures and the price sensitivity in different economies. Kazam’s localization considers the heterogeneity of the Southeast Asia region and strives to provide an equally comfortable user experience across the countries. 

Recent Partnerships

Kazam’s goal is to achieve a balance between considering profits and being conveniently affordable. The latest collaboration of Kazam with Google Maps boosts EV charging networks in India. Integration with navigation features for the location of EV charge points and information about the chargers themselves enhance the ease of using the products for customers. 

Conclusion

The origins of Kazam go back to the COVID lockdown in 2020, aimed at a lack of charging stations for electric vehicles in India. Since then it has fulfilled its mission to provide fleet operators, logistic companies, e-commerce players, and automobile manufacturers with EV charging solutions. Kazam’s Series A3 funding is further affirmation of its mission to bring innovative electric transport to the market and make transport green and more effective.

]]> Mobility Startup Rapido Turned Unicorn After Raising $120 Million in Its Series E Funding Round from Westbridge Capital https://www.scoopearth.com/mobility-startup-rapido-turned-unicorn-after-raising-120-million-in-its-series-e-funding-round-from-westbridge-capital/ Tue, 30 Jul 2024 07:37:24 +0000 https://www.scoopearth.com/?p=343566 Rapido is a mobility startup that secured$120 million in its series E funding round led by WestBridge Capital. Westbridge is the existing and biggest investor who invested money through three different investment vehicles. The startup joined the unicorn club after this funding round. According to the filings, WestBridge invested through Konark Trust, Setu AIF Trust, and MMPL Trust.


The board has approved a special resolution to allot 95,479 Series E CCPs, 10 equity shares, and 98489 Series E1 compulsory convertible Preferred Shares at an issue price of Rs 52,476 each to raise 120 million USD. According to the company filing, the startup will use these fresh proceeds to scale its operations, meet working capital purposes, and expand the market. The startup offers ride services, including auto-rickshaws and bike taxi rides. The company operates in more than 100 cities across India.

Rapido is an online platform and mobile application that allows users to book rides by providing their details, location, and payment details. The platform uses various technologies to offer its customers a seamless experience and secure transactions. This investment shows WestBridge Capital’s trust in Rapido’s market potential and business model.

Rapido Rider with helmet
Image Source: India Times

The startup claims to have more than 25 million app downloads and provided over 100 million rides. After this round, the existing investor WestBrdge Capital holds the largest stake at 26 percent, followed by Swiggy, who owns a 15 percent stake in the company. Even though Swiggy has the second-largest stake in the firm, it did not invest in this new round as it filed for an IPO with DRHP. Rapido previously secured $180 million in its Series D funding round. During its last funding round, the startup data intelligence platform, kredible, predicted the company’s valuation to be around 850 million USD.

The company has raised around $300 million across multiple funding rounds since its inception. The mobility startup announced its operating revenue increase by 3 times to Rs 443 crore in FY23. However, the losses spiked by 54 % to Rs 675 crore in the same duration. Entrackr reported that the internal documents of Rapido mentioned processing 16.5 lakh rides per day. Earlier this year, Perfios and Krutrim SI designs achieved unicorn status. Rapido raised the funding round at a post-money valuation of 1 billion USD.

Conclusion

Rapido is a ride-hailing service offering mobility startup that turned unicorn. The startup got fresh capital of $120 million from WestBridge Capital in its series E funding round. The company plans to use this amount to scale up its services and general meeting purposes, expand to the global market, and advance its technology. After this round, the existing investor, WestBridge Capital, holds the largest external stake with 26 percent. The company’s board approved the resolution to allot 98489 Series E1 CCPS, 10 equity shares, and 95,479 Series E CCPs at an issue price of Rs 52,476 per share each to raise 120 million USD.

]]> Skoda wants a local partner to tame India’s ’predatory’ car market https://www.scoopearth.com/skoda-wants-a-local-partner-to-tame-indias-predatory-car-market/ Mon, 01 Jul 2024 07:25:43 +0000 https://www.scoopearth.com/?p=342259 Prague: Czech carmaker Skoda Auto is looking to partner an Indian automaker to grow its business in a market that’s brutally price-competitive, and one that it’s been unable to crack in more than two decades of its existence there.

It believes that finding a local partner is a ‘very attractive’ scenario, as it aims to make deeper inroads into the Indian market with the help of a domestic entity that has close linkages in the supplier ecosystem, a rich understanding of local customer preferences and scale that can drive down the European carmaker’s costs in the country’s ‘predatory’ market.

Used-car-space.jpg

The Skoda brand has been present in India for more than 20 years, but it now wants to double down on the world’s third-largest automobile market. Klaus Zellmer, chairman of the board of management of Skoda Auto, said that the company is in talks with multiple potential partners at this point in time, ‘carefully’ seeking out a company in tune with the industry and customer preferences to help Skoda achieve cost-effective manufacturing in the country, so that India can become the ‘second leg’ for the brand, after the European market.

“We very much believe in a scenario that we find a partner in India to be more in tune with the society, with customers, with the industry, with all the prerequisites, in order to be successful. We’re going to be very careful choosing the right one, which has to be complementary. 

We’re in this bringing something to the table. We want our partners to bring something to the table, too. We want this partnership not to be opportunistic – but full of opportunities”, Zellmer said. 

Zellmer said that while India is Skoda’s most important global market after Europe, it is also the most competitive and predatory, with price wars often erupting in highly sought-after segments like compact SUVs.”India is not only the most attractive region for us outside Europe, (but) it is also the most competitive environment that you probably find currently in the automotive market. You have many new competitors, new entrants, new cars. So it really is a predatory environment,” Zellmer said.

Skoda is preparing to launch a sub-4-meter compact SUV with 75% local content—its highest for any product so far. This segment commands 50% of the SUV market’s volumes, and is extremely competitive where models such as Tata Nexon and the Maruti Suzuki Brezza reign supreme. The product will be available for customers at the beginning of next year.

According to Zelmer, the company is also adding more retail touchpoints to attract “as many customers as possible” for the product.”… It’s lessons learnt. Often we build cars according to our own expectations and they tend to be over-engineered. 

And over-engineering always comes at a price tag and this price tag then, of course, is something that weakens our competitive position. So, we need to learn, we need to be aware of the switch. Where is the engineering ingenuity of a Skoda brand, and how to strike a balance between cost and price. 

We need to be competitive on cost without sacrificing the quality, fit, and finish that European cars are known for. The sub-4 meter car is a good example of this. We’ve been able to significantly reduce costs while maintaining quality. This approach will continue with future models, making them more attractive to the market.”, Zellmer said.

]]> Top 10 Cycle Brands in India 2024 https://www.scoopearth.com/cycle-brands-in-india/ Fri, 27 Oct 2023 13:55:18 +0000 https://www.scoopearth.com/?p=307341 Cycling has become more than just a mode of transport in India—it is now a lifestyle choice for fitness enthusiasts, eco-conscious individuals, and adventure seekers. Bi-cycle has wheels, so the call Bi-Cycle derived from Bi means 2 and cycle means a circle. Bicycling is an effortlessly mastered ability and therefore ridden by all age groups from little kiddos to age-antique adults.

Now a few of the top 10 popular bicycle brands are promoting their pieces globally. Many advanced nations are selling bicycling for commuting to lessen pollutants and protect the environment. 

Below are some of the Top 10 Cycle Brands in India 2024:

Avon

Avon began off as a cycle saddle and brake production business enterprise in 1948. Avon Cycles started manufacturing bicycles in 1951. This business enterprise became an installation through the Pahwa brothers in Punjab.

They consider providing a terrific excellent product at a completely inexpensive price. Avon is the top popular brand of the Indian cycle and emerged as one of the biggest-selling bicycle brands in India, providing more than two hundred exceptional fashions of cycles. 

The maximum goal of this business enterprise became to fabricate affordable bicycles for the common individual of India. Nowadays it’s one of the best bicycle brands in India. It has great types of models. Neowave is one of the great models of Avon.

The alternatives include a suspension frame and an alloy rim that’s double-walled. The V brakes have alloy levers. The saddle has relaxed foam cushioning.

Today, they provide all styles of cycles with a completely contemporary-day and elegant look.

Atlas Bicycles

Atlas bicycles brand was set up in 1950 by Shri Janki Das Kapur to serve the desires of the common man of India. The need for a cost-effective mode of transportation.

Atlas manufactures bicycles for all-age teams. Their bicycles are available in the marketplace in shops throughout India. You’ll be capable of conjointly ordering their bicycles online. The Brand is 2d biggest within side the listing of Top cycle brands in India.

 Atlas encompasses a wide selection of children’s cycle classes. One of their favored bicycles for teens is the Atlas Smash lbs 20T. The Atlas Smash lbc 20T encompasses aback. It conjointly has instructor wheels that make it sincere for the child to discover athletics. This cycle has caliper brakes and it’s a metallic frame.

The cycles by Atlas are long-lasting due to the fact the corporation makes no compromise with the usual of the bicycles that they manufacture. Atlas is continuously looking to innovate the goods with technology, and first-rate standards.

Hero

Hero Cycles is the biggest manufacturer of Bicycles in India, primarily based totally in Ludhiana Punjab.

The enterprise has a production ability of 7. 5 million bicycles consistently per year, an exceedingly incorporated plant in Ludhiana (Punjab) Ghaziabad (UP), and Bihar, and a country-of-the-art manufacturing facility in Sri Lanka as well. 

The hero has several alternative models that are also very talked about. This includes Miss India, Sprint, and Cycle. Hero exports its top-grade bicycles to seventy countries, and this speaks a lot regarding the same old in their bicycles.

Firefox

Firefox entered the Indian marketplace in the year 2005 and has ended up being one of the most in-style brands in India. If you check any listing of the best cycle wholes in Asian countries, you can observe this brand inside the listing.

Firefox Bikes are one of the fast-developing top premium cycling brand in India, received by Hero Cycles, and has a presence in pan-India through outlets. One of the most in-style models of this entire is the Firefox Flip Flop hybrid. It’s high-quality for city conditions. 

This version includes a metallic body and alloy rims. The alloy brake levers and rim brakes are connected. This bicycle is long-lasting and conjointly encompasses a pleasant look. However, you may purchase Firefox cycles on their personal website.

Hercules

Hercules’s variety of bicycles is one of the flagship cycle brands of the Murugappa Group, owned by the Murugappa family, and additionally has a presence in numerous segments.

Hercules is thought to manufacture long-lasting and safe bicycles. They have a good range of excellent top cycles.

 If you desire a bicycle for ordinary use then you could note a few specialized models in Hercules cycles. If you’re attempting to find sports activities and overall performance bicycles then Hercules is one name which you without a doubt have to reflect on consideration. 

They have some of the best sports activities bicycles. One of the most in-style models is the Ryder Contour twenty-one-speed bicycle.

If you desire the best excellent strong bicycle that could final for a long time and might guide you in strong terrains you then definitely want to think about Hercules Whole which has some of the best overall performance bicycles.

  • Company website: https://bsahercules.com/wp-signup.php?new=www.hercules.in
  • Address: TI Cycles of India. Post Bag No. 5, Ambattur, Chennai-600 053 
  • Toll-free no: 1800 102 2324
    Email Id:     customercare@bsahercules.com

Montra Cycles

Montra may be termed as a top Indian bicycle brand this is taking up a number of the International brands in phrases of great and pricing. They may be labeled as a mid-phase brand.

The quality of their bicycles is much higher in comparison to the entry-stage bikes. Montra was the primary whole in India that had carbon body bikes. 

They have models that have straight handlebars and upright seating positions. One UN organization that loves mountain bicycles and dreams of buying one ought to take into the idea of the Montra complete.

This whole is obtainable in numerous shops throughout the country and you’ll be capable of conjointly ordering those bikes online.

Trek Cycles

Trek is a globally identified bike and best bicycle brand that started out the operation in 1976.

The company’s product delivery consists of high-tech bicycles, mountain bikes, device bicycles, and mass extras. It became primarily based in the year 1976 and targeted in Waterloo inside the USA. 

 Trek cycles are economically priced and are created from steel. Few of the maximum bought Trek cycle classes are Mountain bikes and move country. There are fifty-seven cycle fashions to be had from Trek in India.

The most highly-priced Trek version is Trek Fuel EX nine. 9 XO1 that’s priced at Rs. 5. 58 Lakh. On the decrease end, Trek Jasmine LX MTB 26T IBC is the least highly-priced version a good way to price you Rs. 5.20 K.

Bsa Ladybird

The BSA ladybird beetle is a part of the BSA store. The bicycles of this entire are tailor-made for ladies in India.

They are fashionable and stylish and are designed particularly for women to get complete consolation while using the bicycle. The trendy BSA ladybird beetle bicycles conjointly facilitate the lady’s production of a style statement. 

They have numerous elegant fashions. However one of the most in-style models of this entire is BSA ladybird beetle Breeze which is regularly for ladies in the human beings of 8 to 11 years. This version features a lightweight metal body that the younger ladies are aware is easy to address those cycles.

 The saddle is hugely padded and consequently, the cycle has caliper brakes. There’s a basket in the front and consequently, the rim and consequently, the chain cover are also adorned nicely.

La Sovereign

LA Sovereign is an undertaking among a company based totally in Thailand associated with an Indian corporation. The Indian counterpart is a Sovereign enterprise and it’s based totally in Ludhiana.

This corporation has been generating advertising and marketing bicycles for the beyond 4 decades. This complete has numerous bicycle models for little children and consequently the younger generation. 

Their child’s bicycles, MTB bicycles, and BMX bicycles are very talked about. Their favored version is the La Sovereign metropolis Bicycle. This single-velocity bicycle version is first-rate for people who want to move a bicycle inside the city. 

One of the most vital alternatives to the Los Angeles Sovereign Metropolis Bicycle is the long-lasting metal body of the bicycle.

They want numerous models, especially for youngsters. Therefore, if you want to choose a bicycle for your youngster then you definitely want to take into the idea this completely.

Mach City

Mach City’s entire of bicycles was introduced in the Indian markets in 2015.

The goal marketplace of this brand is the entire city crowd. Mach City has cycled for driving on city roads and they actually have hybrid models. One of their desired models is the bike, W Single Speed. 

It has a companion indirect crossbar. Therefore girls will take a seat down at the cycle with ease. Mach City has with fulfillment created it to the top cycle brands in India despite the fact that it’s relatively new.

It’s turned out to be highly regarded in the Indian markets due to its advanced fine cycles.

Top Bicycle Brands Along With Their Website:

S.NO. COMPANY NAMEWEBSITE
1.AVONhttps://avoncycles.com/
2.ATLAS BICYCLEShttps://www.atlasbicycles.com/
3.HEROhttps://www.herocycles.com/
4.FIREFOXhttps://www.firefoxbikes.com/
5.HERCULEShttps://bsahercules.com/wp-signup.php?new=www.hercules.in
6.MONTRA CYCLEShttps://www.trackandtrail.in/cycles/montra
7.TREK CYCLEShttps://www.trekbikes.com/in/en_IN/
8.BSA LADYBIRDhttps://www.trackandtrail.in/cycles/bsa-ladybird
9.LA SOVEREIGNhttps://la-sovereign.com/
10.MACH CITYhttps://www.trackandtrail.in/cycles/mach-city

Conclusion

As for the final say, these are some of the popular bicycle brands in India. These brands produce bicycles that are quite stylish, affordable, and comfortable. They have bicycles for every occasion and these brands keep launching bicycles with new designs and innovations.

]]> “The SMART Taxi” – Enriching the way people travel in a cab https://www.scoopearth.com/the-smart-taxi-enriching-the-way-people-travel-in-a-cab/ Wed, 07 Mar 2018 08:22:35 +0000 https://www.scoopearth.com/?p=7668 When and how did you start?

” The idea about this venture first came in 2012 during an air travel, however, it took 4 years for me to put this on the ground , due to the lacuna in guts as I was salaried. Finally, I resign from the job and started this venture on Sep 16 ” Says The Founder Dhruvam Thaker. 

The concept of The SMART Taxi is all about customer satisfaction, delivering highest Qualitative and unique cab riding experience. In a nut a shell, it’s a cab service offering the hospitality of Airways and Features like a well stared hotel.

During my corporate tenure, there were lots of business road trips and personal. The cab was the highest used medium for such journeys. I was noticing that despite paying a healthy amount of businesses, cab operators were not delivering the services as per the standards, issues like not fulfilling their commitment, time punctuality, bad behavior, rash driving, car hygiene etc. , were so common and observed quite frequently. During the same time, I was also doing few journeys through Flight and was staying in well-stared hotels. The level of hospitality was completely different.

During a flight journey in 2012, when cabin crew was a briefing about safety instruction, I got the first glance of an idea about The SMART Taxi, which was, “ What if I merge cab services with the hospitality of Airways and Features like a well-stared hotel “?

Post resigning from Job, I have started conducting a market survey by walking on the street and asking an individual to rate the concept based on 13 questions, on a scale of 1 to 5. I have collected almost 163 Surveys, covering individual from different professions, gender and age group. While analyzing the result, it was clear that customers were in a need for such services even in 2016, which is quality centric, professional and value for money.

5th Sep 2016, I have started this concept by purchasing a new cab, by investing all the left out savings, PF, and recurring deposits. My Wife and my family were not happy with this decision, but they still helped me financially in buying a cab and we started. Social media was the best option for us as it was available at lesser cost and visibility was also quite good. Our prices were slightly higher compared to app-based cab aggregator, which we found as a challenge to grab customers initially, but we stick to our strategy of “Targeting Classes rather than masses” and finally orders started flowing in.

It was tough to manage the entire stuff single-handed, but the inner force and passion behind setting up this venture were giving me the energy to do everything together. Almost all the orders, I have executed by myself at least for 3-4 months and then started approaching other cab partners for joining the team.

How did you come up with the idea? Your inspiration moment

During a flight journey in 2012, when cabin crew was the briefing about safety instruction, I got the first glance of the idea about The SMART Taxi, which was, “ What if I merge a cab services with the hospitality of Airways and Features like a well-stared hotel “?

Brief about the organization and founding members

We are a proprietorship firm and bootstrapped to date. Founded in Sep 2016 , We at ” The SMART Taxi”, Ahmadabad based Cab aggregation company, with a vision to become India’s No.1 Cab company in customer satisfaction by 2025 , we always work towards creating a unique cab riding experience for our clients and society, which helps them in making their business / personal travel, a memorable experience, at an optimized cost!

We achieve this by offering well-maintained cabs which are equipped with state of the art travel-friendly features, driven by well trained and extremely courteous professionals, which actually differentiate us in the industry and makes us as the most professional, reliable, safe and a class apart brand!

We offer cabs for Monthly Fix Cabs, On Call cabs for outstation, City roaming, Airport and Railway Station Transfers. Service portfolio varies from city to city based on the market need. Currently, we are present in 4 Cities including Ahmedabad, Vadodara, Rajkot, and Jaipur, with 32+ highly maintained cabs driven by well trained and courteous professionals, offering amazing cab experience. All our cabs are following a standard procedure in a sequential manner during the entire ride, starting from opening the door for customers till dropping them.Features like  “Wi-Fi” , amazon kindle, magazine, water bottle, meditation music during a ride, offering dry snacks etc., payment acceptance in any mode and printed invoice (Soft copy), add more in making the experience richer.

Our company policy is customer friendly, as we do not charge even a single penny from a customer if their experience was unpleasing during a ride.

80% of our revenue comes from corporate accounts (B2B) and balance from individual customers. In Span of 1.5 Year we have grown continually in almost every parameter of business like orders, customer acquisitions, expansions, repeat bookings, corporate accounts, referral ration etc. 2 out of every 3 rides we execute as repeat bookings. 3 out of every 4 customer ride with us as Referral.

The detailed journey, like what all you want to share with readers.

“Believing in you till the last breath of your life and keep running to fulfill your passion”. This statement looks a perfect fit when I recall the initial days before starting this venture. Being a mechanical engineer with a silver medal, definitely, no parents or wife wants his child or husband to resign from his well-paid job, start a cab company and driving a cab as a driver.

” Being a shy by nature, I was always an obedient child for my parents and followed almost all instructions what they have given me. But this decision was the First, which I was not ready to listen to anyone, despite every one tried convincing me. There was an inner voice which was driving me, to make the vision true and same is even until today ” Says the Founder Dhruvam

The biggest challenge was about coming out from a job seeker mentality and starting something on your own, which took almost 4 years but finally a day has come, where I felt to resign from the job and starting a new venture.

I started conducting a survey by taking a survey questionnaire and walking on the road, asking an individual to rate for the concept from a scale of 1 to 5, to understand success ratio of concept in the market.

From my left out savings, RD, PF and with help from family members I have purchased a cab and started driving as a driver. Initial two months were very tough, as there were no orders at all. But then things started taking off.

I have also approached Banks, individual investors for loan and funds, however, no help was found at that time. At the time I got frustrated, but I was sure that whatever may be the case or scenario, I have to move on.

We have placed our prices marginally higher than other app-based services, due to service quality, which was a challenge initial days to make customers convinced, that why and for what they are paying extra? However, We were confident in our services and focused on our targeted segments. Being a service, we wanted our customers to book a ride, seat inside the cab and have a feeling.To do so, we started offering the first ride with discounted rates. It paid off! We started getting referrals and repeat orders, despite higher pricing.

In parallel, I started approaching other cab partners, to join and ride with us. Our transparency in payment and terms helped us in gaining qualitative partners who can deliver services as per our set standards.

We started approaching corporate companies, to fulfill their cab needs and the response was overwhelming. Our company policy, business-friendly payment policy, assured quality, continual innovation in services and corporate referral programs helped us becoming on board with many of the multinationals and well known corporate companies.

After completing one year, we started expanding our services into other cities of Gujarat like Vadodara and Rajkot and now We are covering one of the City of Rajasthan (Jaipur) Also.  Till Dec 2020, we have the plan to expand the services, in all metros and tier 1 cities.

Challenges and Opportunities/ Marketing Strategies

Rather than targeting to a mass segment which was targeted by well-known app based international and national players, from day one, It was clear that “The SMART Taxi” will offer services for an individual or business, for whom service quality matters the most. It is often observed that such individuals are more brands centric and are loyal customers.

We have started publishing contents on social Media and walk-in to corporates for orders. A qualitative Service delivered in a standardized sequence, ride by ride, in every ride, 24X7, which helped us in gaining the confidence of our customers. Through word of mouth, we started getting enquiries and orders.

While Selecting Cab partners, we select only sedan and MUV cabs. We don’t want our partners to deliver the services just like a driver coz It is often noticed that such feeling ended in unpleasing experience for the customers.

As a reason, we work with a limited number of partners, but with those who can add value to the organization. All our process of cab on-boarding designed to match the above-said goals. We start from collecting photographs of the car and verifying documents, then we conducted a telephonic interview with a driver to understand his knowledge about driving and customer behavior. Next comes training. We train all our partners through a video tutorial on delivering the service in a standardized manner in every ride. We educate them about things which need to be taken care while driving, assisting customers, car hygiene, economical driving etc. our training module also educates our partners on extra care one need to take while riding with senior citizens, physically challenged and pregnant lady.

To win the confidence, we ensure that we pay to our partners on time, electronically, which we are succeeded till date.

 Future plans and funding

With a vision to become “India’s No 1 Cab company in Customer Satisfaction, by 2025”, we have all our benchmarks set. It includes growth from every aspect of a business, by keeping customer satisfaction as a center. We have strong and steady scale-up plans covering metros and tier 1 cities by 2020. We have continual running innovations in our service and feature offerings, running timely, to offer something new to our customers, time to time.

About Funding, we had approached to few angel investors and VCs for the funding in the past, but yet to get succeeded. We will keep on trying.

A quote from the founder on the journey, or dealing with the challenge, or any inspiring moment

” No dream is too big if you have a right passion to achieve it,” Says Dhruvam

EXCLUSIVE: Founder’s advice to budding entrepreneurs

“Believing in you“ – is matter the most in a startup. I would also like to share a quote which is very famous in Gujarati; we have a quote that “During starting, we have to give 1000 days’ dedicatedly to business. After 1000 days business will give back to you”, Says the Founder  Dhruvam Thaker.

Loss or profit, business or no business, don’t lose focus from your purpose for which you have started this venture. Keep trying

Provide some statistics like revenues or clients acquisition

– We are available in 4 Cities Currently.
– Holding 11 Corporate accounts.
– We have more than 32 cabs on board.
– 2 out of every 3 rides we execute is repeated booking.
– 3 out of every 4 customers ride with us by hearing word of mouth.
– We have completed more than 550 rides in the span of 1.5 years, with average billing value as Rs 2800 INR per ride.

"The SMART Taxi" – Enriching the way people travel in a cab

Your website / apps / and contact details

We are a call based service where an individual can call on our 24X7 booking helpline number and placed bookings.

Website:- www.thesmarttaxi.in

Booking Helpline:- 823-888-333-5

Email:- info@thesmarttaxi.in

]]>