“Revolutionize the way the world travels”: That’s what has been the vision of sRide’s founding team and today we are proud to be featured on @YoungTurks (CNBC TV18) as India’s go-to mobility solution for ridesharing.
CNBC’s Young Turks is a show that showcases success of startups that are truly making a difference to end consumers’ needs on daily basis. This particular series on mobility covered the story of our self-funded startup sRide, and how we have successfully revolutionized the world of commute. Young Turks is a 17 year pioneer show showcasing top startups making a difference everyday and we are honored to be featured for solving India’s commute problem. It is a proud feeling to share the platform with India’s top journalist Shereen and Syna from CNBC.
A little history: sRide is a Pune based startup and we launched our carpool app in 2015 when there was no way to organize carpool for daily commuters. We are present in 10 cities with our app usage having grown 10x in the last year.
sRide carpool app matches riders to car owners based on their location and time preferences. Users post their rides on the mobile app to get multiple options to ride with.
Founded by Lakshna Jha, Nitin Chadha & Amit Agrawal in 2015, sRide today has 10 lakh+ users across 9 cities. We prioritise on safety & verification; the review and rating process of sRide is a two way run that creates a strong feedback system for both rider as well as car owners.
As quoted by our CEO, Lakshna Jha, “From a price point perspective, sRide is much better than Ola & Uber; sRide is 40–50% lesser in price and our social aspects are what make us stand out. In Ola & Uber, people do not talk to each other at all but in sRide you can make friends easily as users are from either the same or similar companies.”
We connect riders and vehicle owners going in the same direction around the same time. Riders share the commute cost with car owners and are charged at a fixed cost per km basis. sRide charges a service fee per transaction on the platform. With sRide, car owners can easily save Rs.4000-5000 which is equivalent to 50% of a standard car loan EMI. Riders can save up to 50% of commute costs and travel in comfort.
Interestingly, 60% of users on the platform are woman, a reflection of its safety & credibility. According to our CTO, Amit Agrawal, “Trust is important. To ensure this, we have created a couple of features like phone number verification, work email verification, mandatory review system which is mandatory, SOS etc.”
With operations in Pune, Mumbai, Hyderabad, Delhi, Kolkata, Chennai, Bengaluru, Coimbatore and Bhubaneshwar, sRide is primarily focused on corporate employee. We’ve already onboarded users from 400+ leading companies like Cagemini, Cognizant, WIpro, Infosys, TCS, Tech Mahindra, Virtusa, Novartis, L&T, HCL, IBM, Cyient, HSBC, Hitachi, Persistent, Qualcomm.
Nitin Chadha, sRide COO, says “These partnerships are not for financial terms – this is all for the sustainability and green initiatives. For many corporates, this helps to reduce employee transportation costs, parking issues and increase employee satisfaction. Out of 7 cities in which we are operational, we are profitable at unit economics in most of the cities and are growing at a very fast pace month on month.”
Uptil now, sRide has covered 150 Million+ KMs, helping reduce 30,000 TONS of CO2. This is equivalent to planting 14.2 lakh trees. Fact: 7850 Acre of Forest land would have been required to grow 14.2 lakh trees.
We are very proud of the sRide team – most of whom have been with us since day one. Every day most people ask what our country is doing for them but we at sRide always ask ourselves what we can do for our country. We believe that the consistent use of the sRide platform will make it possible to de-congest our roads, reduce fossil-fuel consumption and allow us to breathe cleaner air. We believe these goals are worth fighting for, don’t you?
Watch the full episode at https://www.youtube.com/watch?v=ZMb79KctorY