Metro Ride Shark Tank India Pitch:
Metro Ride is an Indian startup which appeared on Shark Tank India Season 2. It is an AI-based 100% Electric Vehicle platform which connects daily commuters to public transport. Customers can book two or three-wheeler electric vehicles through their app. The founders sought an investment of ₹75 Lakhs in exchange for 1% equity in the company valuing the brand at ₹75 Crores.
Metro Ride has women drivers in its fleet. At the time of their pitch, the company was servicing three cities, Hyderabad, Banglore & Delhi. They have been operational for over 1.5 years and have served over 6 Lakh users. Their app was available on IOS and Google play store.
Metro Ride had an average wait time of just 2 minutes, which is way better than the industry average of 12 minutes. Customers have options to choose either shared rides or private rides. The founders added that their pricing is also highly competitive with local autowalas.
Metro Ride’s unique selling proposition is that they are not competing with public transport like other ride-share companies but are rather trying to collaborate and integrate alongside the current system. They have signed a contract with Hyderabad Metro and they are using that tie-up as their Go-To-Market strategy. They would also sell metro tickets through their app as well.
The company is integrating the already-used vehicles in the cities based on availability. They currently have OEMs and ecosystem partners which help run the business. The brand has also done B2B tie-ups to help generate business for its partners in non-peak times.
Metro Ride’s Financials during Shark Tank India:
35% of Metro Ride’s revenue comes from B2B tie-ups. They had 150 vehicles on their platform which does around 3,000 rides per day. 92% of the rides are shared. They closed last year with ₹54 Lakhs in sales. They made revenue of ₹25 lakhs last month. The Company is operating on a Minimum Guarantee model. Their vehicles are on rent.
Metro Ride Shark Tank India Negotiations & Funding:
Namita was the first shark to go out due to its high valuation. Anupam went out due to market competition. He added that at scale, shared rides would not work, and there is no business here. Aman went out for the same reasons as other sharks.
Amit went out because he felt like it would need a different approach for execution than what the founders were focusing on. he went out but he asked the founders to see him after the show. Peyush went out due to the high valuation of the company, he added that he may regret not investing later.
Who are the founders of Metro Ride?
Kaaman Agarwal & Girish Nagpal founded Metro Ride. They are from Banglore. Both the founders have a lot of experience in business background. Girish has been working in the USA and still living there.
How is Metro Ride doing after Shark Tank India?
Our research in the Metro Ride revealed that while the company did not get a deal on Shark Tank India, Their appearance on the show had a positive impact on the business, it gave them a much-needed push and nationwide exposure which helped with growth.
Turns out, The company did not succeed in their initial mission as they were planning. As of January 2025, while Meto Ride is still in business, however, they have shifted their model to now only giving rides to Kids for safety reasons. you can learn more about them by checking their website and click on Aamzon button bellow to check out other Shark Tank India Companies!
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Here are other companies from Season 2 Episode 42.