Booz Scooters
Initial Ask – Rs.40acs for 15% equity at a valuation of Rs.2.67Cr.
About the Company
Provides scooters(manufactured by third party), in confined spaces, and provide maintainence services. The scooters are parked at a station, and can be accessed by paying through Mobile Application, Man-Stations and also access through RFID Cards for offices. These will help in travelling within a huge confined premises.
They also tend to introduce this as pay-per-use at tourist spots.
Currently, the company is in talks with The Lalit in Goa and also The Fun group in Goa.
Past performance of the Company
The company has generated revenue of Rs.4lakhs in the past 10 months. Involved in an exclusive agreement for supply of bikes to the company.
Industry Overview
Conveyance in office spaces is a very competitive space. Multiple big time companies are presenting services of EV vehicles for transport in confined spaces.
Tourism will be resurgent after Covid especially in South Asia. But SInce retail nahi hai, they’ll have to trust already big tourist agencies in India. Also, most of the North Indian tourist space is hiking, where these scooters might not actually work. They are literally forced to work in plain areas, in UP, Bihar, Delhi- doesnt attract that many tourists. Dicey, even though moving away from tourism might work. Maybe service outside India?
Offers made, and the one accepted:
Only One Deal offered, Ashneer and Vineet Offered Rs.40lakhs for 50% of the company. It was countered for 33.33%, which was turned down.
Final deal made at 50% for Rs.40lakhs.