Technology
Taxi Booking
Season 3 Episode 3
| Brand | RodBez |
| Company Name | Difelly Mobility India Pvt. Ltd |
| Founders | Dilkhush Kumar, Siddharth Shankar Jha |
| Original Ask | 50 lakhs for 5% equity at the valuation of Rs. 10 crores |
| Deal | 20 lakhs for 4% equity at the valuation of Rs. 4 crores and 30 lakhs debt at an interest rate of 12% for 2 years |
About the Product
For one-way journeys in Bihar, passengers can now book a RodBez One Way Taxi and enjoy savings of up to 40%. The unorganized taxi services often lead to drivers struggling to find return passengers, forcing passengers to pay for round trips even for one-way travel. RodBez addresses this issue by connecting two passengers traveling from opposite directions into a single taxi, significantly reducing travel costs.
With RodBez TaxiPool, travelers can book taxis that are already headed in their direction without passengers. This innovative service saves up to 60% compared to market prices, optimizing fuel usage and eliminating the need for ride-sharing. In TaxiPool, passengers have the entire cab for themselves, allowing for a private and convenient journey with family. RodBez’s One Way Taxi and TaxiPool services revolutionize travel in Bihar by offering cost-effective solutions for passengers while ensuring a comfortable and efficient ride.
Founders & their story
- Dilkhush Kumar
- Siddharth Shankar Jha
The unorganized taxi services in Bihar create a challenge where returning rides often lack passengers. RodBez, founded by Dilkhush and Sidhharth from Saharsa and Bijar, addresses this issue with a mobile app. The app allows drivers to input their route while passengers specify their destination, ensuring two-way fares.
Dilkhush, who learned driving from his father, initially worked as a driver earning 3500 a month. However, this income wasn’t sufficient. Shifting to Patna, he continued driving while also acquiring skills in electricity, fire, and construction. In 2016, he founded a company to solve a similar problem at the regional level, and by 2020, the monthly revenue reached 80 lakhs.
RodBez, launched in July 2022, raised 46 lakhs in November 2022 at a 4 crores valuation. Dilkhush holds 80%, Sidhharth 5%, and mentors and investors collectively own 15%. Connecting Patna to every city in Bihar, RodBez involves around 20 taxi drivers. Dilkhush, who designed the app’s UI through YouTube learning, offers one-way taxi options with rates 40% cheaper than the market.
For time-sensitive travelers, RodBez provides a one-way cab option, and for those seeking savings, a taxi pool offers 60% reduced fares. Although the commitment is significant, effective marketing has led to 10k completed rides with only one flight having to be booked due to a missed taxi.
To enhance passenger experience, a captain is assigned for every ride, ensuring timely boarding and maintaining communication through WhatsApp. With a team of 19, RodBez is making strides in transforming taxi services in Bihar.
About the company:
RodBez stands as Bihar’s premier mobility platform, specializing in One Way Taxi and TaxiPool services. This innovative platform connects customers with taxi drivers, creating a community where budget-conscious travelers can benefit, and drivers can earn substantial income.
Addressing the challenge of unorganized taxi services in Bihar, RodBez focuses on the common issue of drivers struggling to find return passengers. This often results in passengers paying for a round trip even when traveling only one way. RodBez introduces a solution through its One Way Taxi service, connecting every village and city in Bihar to the capital, Patna. The TaxiPool service efficiently pairs two passengers traveling from opposite directions, reducing travel costs by up to 40-60%.
The inception of RodBez was inspired by the escalating fuel prices, with a vision to optimize travel efficiency. Their algorithm identifies vacant cabs traveling between locations, seamlessly connecting taxi drivers with customers. Launched on June 10, 2022, by Mr. Dilkhush Kumar, a seasoned entrepreneur with years of experience in Bihar’s transportation sector, RodBez is transforming the mobility landscape by offering cost-effective and efficient travel solutions for the people of Bihar.
Revenue:
Taxi drivers using RodBez are earning a consistent monthly income of 45k, reflecting the platform’s commitment to their well-being. With an average commission of 20k per taxi and a commission rate of 20%, the platform received 6 lakhs in commissions in August 2023.
Looking ahead, RodBez sets an ambitious target of covering 2k rides daily within the next five years. This growth trajectory is projected to result in a substantial business turnover of 400 crores, generating an estimated commission of around 80 crores. Despite the promising outlook, the financial snapshot reveals a current bank balance of 4 lakh with a monthly burn of 1.5 lakh. This indicates a prudent financial management approach as the company navigates its expansion plans.
RodBez continues to prove its commitment to both drivers and passengers, ensuring a sustainable business model while aiming for significant growth in the coming years.
Founders’ Ask
50 lakhs for 5% equity at the valuation of Rs. 10 crores.
Offers:
Vineeta and Ritesh: 20 lakhs for 4% equity at the valuation of Rs. 4 crores and 30 lakhs debt at an interest rate of 12% for 2 years.
Final Deal
Vineeta and Ritesh: 20 lakhs for 4% equity at the valuation of Rs. 4 crores and 30 lakhs debt at an interest rate of 12% for 2 years.