BOOZ: get high with an electric scooter!

Booz: The number one urban mobility electric scooter was designed by Ruthvij Dasadia from Ahmedabad. Ruthvij was an Automotive engineer who graduated in 2019. However, he started Booz in the year 2017 that provides temporary and basic operational services to travel nearby places. The main vision of Booz is to eliminate fuel vehicles usage and make the surroundings pollution-free. They even want to make the free time of their riders more enjoyable with Booz. Adding to this, Ruthvij states that Booz is one and only South Asia’s first app-based electric scooter that can be used in business parks, residential areas, public spots, tourist spots, hotels, and clubs, respectively.

The Charging stations, installations, and plug-in, plug-out points necessary for electric scooters come under the monthly subscription offers.

The boy collected all his energy in pitching this environmentally friendly idea for a 40 lakhs investment and offered 15 % equity in his company. The Sharks were not impressed with the idea as the Ahmedabad boy showed revenue of 4 lakhs for 40 lakhs investment in the last ten months in which they provided promotional rides from Dec 2019 till Jan 2020.

Thus, Anupam and Namita Thapar have immediately backed off as they feel it doesn’t come under their field of interest. Aman was also uninterested in making a deal in Booz Scooters as its revenue generation is very low compared to its investment. Vineetha and Ashneer have come forward together to encourage the founder of Booz but made an absolute aggressive offer of ₹40L for a 50% Equity. After many counters offer between him and Sharks, Rutvij agreed to give Sharks 50% of his stake at an investment of Rs. 40 Lakhs!

The story of this Ahmedabad boy is indeed inspirational, and we wish him the best of luck with his energy-conserving Booz.

Also, read more articles about Shark Tank India

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