Innovative Transportation Solutions: Metro Ride

Metro Ride is a startup founded by Kaaman Agarwal and Girish Nagpal in Delhi. Kaaman has a tech background, having worked at Oracle for six years before moving to the US where he spent another 12 years in the tech industry. Girish, on the other hand, has worked in the corporate world for 15 years.

With a unique and innovative solution to the daily commuter problem, Metro Ride has the potential to disrupt the transportation industry in India. With a growing user base and strategic partnerships, the company may continue to expand its services and revolutionize the way people commute in urban areas.

Vision of the startup

The aim of the startup Metro Ride is to solve the daily commute problem faced by people in major Indian cities like Delhi, Bangalore, and Hyderabad. The founders, Kaaman Agarwal and Girish Nagpal, identified the issue that commuters often face with auto-wallahs refusing to go and app-based taxis getting cancelled, leaving them stranded. To address this problem, they developed an AI-based 100% electric-based platform that connects daily commuters to public transport.

Through the Metro Ride app, commuters can book 2-wheelers and 3-wheelers electric vehicles that can drop them to the nearest metro or rail station. The app has women drivers in their fleet, and they have served 6 lakh customers so far. They are not competing with public transport but collaborating with them, as they have partnered with Hyderabad metro services to allow customers to book metro tickets from the Metro Ride app.

The startup has several OEMs who provide vehicles through their application. To cope with the non-peak time, they have a B2B model that accounts for 35% of their sales. Metro Ride has boarded 150 vehicles and provides a total of 3000 to 3250 rides per day. The booking is 92% from share and 8% is private.

Business Model

Metro Ride is an AI-based 100% electric-based platform that aims to solve the daily commute problems faced by many people in cities like Delhi, Bangalore and Hyderabad. The platform connects daily commuters to public transport, allowing them to book 2-wheelers and 3-wheeler electric vehicles which can drop them to the nearest metro or rail station. They have women drivers in their fleet to ensure safety and inclusivity.

The company's services are not in competition with public transport, but instead, they serve to complement it. They have collaborated with Hyderabad metro services, allowing customers to book metro tickets from the Metro Ride app. They have also partnered with several OEMs who serve vehicles through their application.

Metro Ride's B2B model is used to cope up with non-peak times, generating 35% of their sales. The company has boarded 150 vehicles and offers a total of 3000 to 3250 rides per day. The booking ratio is 92% for shared rides and 8% for private rides. Their app is available on both Android and iOS platforms, with an average waiting time of 2 minutes and a maximum waiting time of 12-15 minutes.

The founders, Kaaman Agarwal and Girish Nagpal, bring complementary skill sets to the table, with Agarwal having a tech background and Nagpal having worked in the corporate world for 15 years. The company's use of AI and electric vehicles sets them apart in the competitive transportation industry, and their collaboration with public transport services makes them a promising and sustainable solution for daily commuters.

Sales and revenue

The startup has seen steady sales growth in recent years. In the financial year 21-22, the company generated 54 lakhs rupees in sales, and last month alone the sales were 25 lakhs rupees. This growth is indicative of the company's popularity and successful business model.

Metro Ride operates on a minimum guarantee model, which ensures that both riders and drivers are able to benefit from the service. This model has helped the company to establish itself as a reliable and customer-friendly ride-sharing provider.

With its impressive sales figures and successful business model, Metro Ride is well-positioned to continue its growth trajectory and establish itself as a major player in the ride-sharing industry. As the company expands its reach and improves its services, it may be able to capture an even larger market share and generate even greater revenue in the years to come.

Journey in Shark Tanks India

Metro Ride, a startup that offers innovative transportation solutions, recently sought funding from potential investors. The owners asked for 75 lakhs rupees in exchange for 1% equity in the company. Despite the owners' efforts, there were no offers or counter offers from interested investors.

Unfortunately, no deal was finalized with any investors, as no sharks were interested in the opportunity. While this may be a setback for Metro Ride, it is important to remember that fundraising is often a challenging and unpredictable process. The owners may need to explore alternative sources of funding or pivot their business strategy in order to achieve success.

Without additional capital, it may be more difficult for Metro Ride to expand their operations and generate revenue. However, with a strong vision and a commitment to innovation, the company may be able to find new avenues for growth and achieve their goals in the transportation industry.