Electrical Vehicles Company Investment Opportunity in Karnataka, India

- There have been some notable achievements during the last month. Points to note are:

I) The company had the highest number of monthly trips: 5,932 trips.

Ii) Monthly revenue has been the highest and almost twice as much as our previous month's revenue: ₹47 lakh.

Iii} The company has doubled the number of users, they now have 3, 000+ customers.

Iv) Company is about to sign two B2B contracts which would generate revenue worth ₹35 Lakh per month for 50+ vehicle services.

V) Company will be adding 160 vehicles this month, 100 vehicles for B2C, and 60 for B2B by end of this month.

Vi) Company will be starting operations in Mysore and inter-city like Mysore to Bangalore trips this month through B2C based mobile app.

- Aggregator of EV taxi service.

- The application has 11,000+ downloads.

- App is present on both iOS and Android.

- There are 2,000 registered customers and 1,200 regular customers.

- There has been a constant increase in trips and revenue since July last year (post-second lockdown).

- 20% of the drivers are women.

- The company saves 1 kg of Co2 with every trip that its customers take.

- Will soon start 24x7 operations and full-time operations at the airport.

- They plan to reach 750 cars with CCD (Compulsory Convertible Debenture) investment this year.

- Yamaha Motors has committed INR 2.5 crore worth of vehicles immediately and about INR 100 crores of vehicles in the near term.

- The company has planned expansion in Mysore, Hyderabad, Pune, and Mumbai this year.

- The company that owns the app has two shareholders and recently raised INR 1 crore.

- The company was recently backed up Yamaha Motors, which is the reason for high growth rate of the business.

Company is a B2C taxi aggregator service and has a mobile app-based all electric-vehicle services.

Physical assets include hardware, and office supplies. The electric vehicles are leased and not owned by the business.

Intangible assets include software, and mobile application source code.

The company is headquartered in Bengaluru, Karnataka.