Mumbai, Jan 25 (IANS) The new episode of ‘Shark Tank India’ season three saw an innovative pitch by Bihar’s ‘RodBez’, a platform offering one-way taxi, taxipool, and carpool services The founders have sealed a deal of Rs 20 lakh for five per cent equity.
In the dynamic realm of Shark Tank India where groundbreaking ideas take center stage, ‘RodBez’ co-founded by Dilkhush Kumar and Siddharth Shankar Jha, hailing from Bihar, emerged as a trailblazer in the transportation sector.
Going beyond the conventional pitches of past seasons, ‘RodBez’ introduced a paradigm shift with its innovative platform, revolutionising the way people travel through one-way taxi, taxipool, and carpool services.
A noteworthy moment unfolded as Ritesh Agarwal, Founder and CEO of OYO Rooms and the newest addition to the shark lineup, found himself captivated by the disruptive potential of RodBez.
Ritesh said: “I am happy that you have brought small problems of India to this platform.”
The company which was launched in July 2022, aims to address the challenges posed by unorganised taxi services in the state, setting the stage for a transformative commuting experience with their business ‘RodBez’.
The ‘RodBez’ founders, who had an ask of Rs 50 lakh for five per cent equity, said: “We are connecting Patna with all the cities.”
Dilkhush shared his inspiring story of overcoming job rejections to drive a positive change in Bihar.
Vineeta Singh, CEO and co-founder of Sugar Cosmetics, and Ritesh offered them 20 lakh for 5 per cent equity, and 30 lakhs debt at 12 per cent interest for two years.
Aman Gupta, co-founder and CMO, BOAT opts out of the pitch, saying: “your runway is less, it can go in risky territory.”
The ‘RodBez’ founders then said to Vineeta and Ritesh: “We welcome you. I have to make my business very big. ‘Deal pakki’.”
Ritesh concluded saying: “I have learned from you that– what all can be learned from YouTube. Keep motivating the youth of Bihar.”
Talking about their experience on ‘Shark Tank India 3′, Dilkhush said: “Shark Tank India 3 played a pivotal role in refining and reshaping our goal and brand,’RodBez’, with a focus on supporting Bihar’s development into a modern metropolis with an effective transportation network. The sharks’ insightful advice not only inspired us but also charted a clear vision for our business journey.”
“Our excitement knows no bounds, and we extend heartfelt gratitude to the ‘Shark Tank India’ team for this invaluable opportunity, propelling our entrepreneurial endeavors forward. Special thanks to Vineeta Singh and Ritesh Agarwal for their investment in our company,” he added.
The core mission of the business is to enhance the commuting experience for countless passengers in Bihar by offering a cost-effective solution that reduces expenses by up to 40 per cent and eliminates the need for both-side fares.
‘Shark Tank India 3’ streams on Sony LIV.