About the Company
Booz Scooters was founded in 2023 with a vision to revolutionize urban mobility through sustainable and affordable electric scooter solutions. Headquartered in Bengaluru, India, the company is expanding its presence across multiple cities, providing an eco-friendly alternative to traditional two-wheeler transportation. Booz Scooters offers a smart rental and subscription-based model to cater to daily commuters, students, and working professionals.
Business Model
Booz Scooters operates through the following key business segments:
a) Scooter Rental Services
- Description: Provides electric scooters for short-term and long-term rentals.
- Key Clients and Markets: Targets urban commuters, students, and tourists.
b) Technology Solutions
- Description: Offers app-based tracking, digital payments, and AI-driven route optimization.
- Competitive Advantage: Enhances customer experience with real-time tracking and smart docking stations.
c) Revenue Streams Booz Scooters generates revenue through:
- Ride-Based Rentals: Customers pay per ride based on duration and distance.
- Subscription Plans: Monthly or annual plans for frequent users.
- Corporate Partnerships: Providing fleets to businesses for employee mobility.
- Advertising & Branding: Revenue from brand collaborations and in-app advertisements.
What Problem is the Startup Addressing?
Booz Scooters aims to address the challenges of urban congestion, pollution, and expensive transportation costs by offering an efficient, sustainable, and cost-effective micro-mobility solution. The key problems include:
- Traffic Congestion: Providing an easy alternative for short-distance travel to reduce reliance on cars and public transport.
- High Transportation Costs: Affordable pricing models compared to fuel-based vehicles.
- Carbon Emissions: Promoting clean and green electric mobility solutions.
- Limited Parking Spaces: Deploying smart docking stations for organized scooter parking.
By addressing these challenges, Booz Scooters is creating a sustainable urban mobility ecosystem.
Key Financial Numbers
- Revenue (Latest): ₹2.8 crore ($340K) as of March 31, 2024.
- Profitability: -$400K (as of March 31, 2024)
- Growth Rate: 60% YoY increase in user base.
- Funding: Raised $750K from angel investors and mobility-focused funds.
- Market Valuation: $18M as of September 2024.
About the Founders
- Arjun Verma – Co-Founder & CEO
- Education: B.Tech in Mechanical Engineering from IIT Bombay.
- Professional Background: Expertise in electric vehicle technology and urban transportation planning.
- Role in Company: Leads company vision, strategy, and business expansion.
- Rohan Mehta – Co-Founder & COO
- Education & Background: MBA in Operations from IIM Bangalore.
- Contributions: Oversees supply chain, partnerships, and operational efficiencies.
