Shark Tank India Season 2 Swytchd Business is explained in the founder promo video, telling that it is an All Inclusive Electric Vehicle Ka Subscription Business.
He has presented a unique concept of switching the Second vehicle switch from one vehicle for everyone with the help of the Subscription model.
Founders of SWYTCHD
Sameer Arif is the founder of Swytchd. The company provides electric Two-wheelers and four-wheelers on a monthly subscription to customers in Bengaluru.
Swytchd India Business Vision is a huge cost, by providing relief compared to the current EMI model, and adding vehicle ownership to the customers, and adding new changes to electric vehicles to join with more utility with the help of their economic installments.
|Ask||₹ 50 lahks for 3% equity|
Swytchd Bangalore is a business located which presents e-vehicles in India by subscription model, which includes Top Electric Cars in India.
All the benefits of ownership are included in the commitment of one month, as all the benefits of insurance, servicing, breakdown, and free public network, all one month. No deposit is required!
SWYTCHD is an Electric Vehicle Subscription Platform that offers its customers free public charging, servicing, and maintenance at all places, servicing and maintenance, breakdown cover, fully comprehensive insurance, and more.
According to the company, the vehicle is provided with a capacity of charge (free) at home or public place.
At the end of the rental period, SWYTCHD returns the charging amount to customers. SWYTCHD also allows customers to receive different vehicles every month.
Features of SWYTCHD
- 1-month commitment
- Free Charging
- 1500 KM / PM
- Our Vehicle Your Rules
- All taxes included
|Industries||Retail Motor Vehicles|
|Value of Company||₹ 16.67Crore|
|Company Size||2-10 employees|
|Company Headquarters||Bengaluru North, Karnataka|
Sales Revenue of SWYTCHD
- Membership for two-wheelers starts at ₹ 4,000 and is up to ₹ 6,000 per month.
- The monthly membership of four-wheelers starts at ₹ 30,000 and is up to ₹ 60,000 per month.
- Monthly subscription 10 cities -Ahmedabad, Pune, Bengaluru, Delhi, Chennai, Mumbai, Surat, Kolkata, and Hyderabad provide SWYTCHD India in Hyderabad.
- Their 127 subscribers live every month.
- In July 2022, he had revenue of ₹ 3.7 lahks, and earlier in June 2022.
- SWYTCHD Monthly Recurring Sales are ₹ 5.6 lakhs.
- This year they want to add 1000 vehicles by the end of 2023.
- According to the calculation for 2022, a boost of Electric 2-WHEELERS 535K sales has been projected in India.
- SWYTCHD Monthly Runrate – ₹ 13 lakhs.
SWYTCHD in Shark Tank India
According to sharks, the subscription model is not correct for the Indian public. Now the electric vehicle category will be consolidated and their business will start to decrease immediately.
This long time will not be able to become a business of time. If they have put the risk of the asset on the investor, they will hesitate to deal with them again.
All business is being transformed by the exchange of money and the EV variant of the market.
When the industry will complete this in this case, no one would want to take such business service. So no sharks offer them a business deal.