What is Swytchd?
Swytchd is a subscription business for all-inclusive electric vehicles. When you subscribe to a vehicle you’ll get insurance, servicing, breakdown support & free charging. That’s why it’s called an all-inclusive subscription model.
You can subscribe to a monthly plan. Then after the end of the month, you can switch to a different vehicle. That’s how the name Swytchd came.
Who is the Founder of Swytchd?
Sameer Arif is the founder of Swytchd. He’s from Bangalore. He was 29 years old when he was pitching this idea in Shark Tank India.
He previously lived in the UK and worked in multiple car companies.
Swytchd Before Shark Tank India?
Sameer started the company back in December 2021. The target audience for Swytchd is 25 to 40-year-olds who don’t want to buy a vehicle but rather want to experience driving.
Currently, Swytchd has 127 vehicles. Their monthly subscriber is 127.
How much money did he ask for on the pitch?
He came to Shark Tank India seeking ₹50 Lakhs for 3% equity in the company. Which gives the company a valuation of ₹16.67 Crores.
How to get Swytchd?
You can take a vehicle subscription from the Swytchd website.
Subscription Price in Swytchd
|Ather 450x Gen 2
|Tata Nexon EV
What are the Annual Sales of Swytchd?
Which shark gave Swytchd an offer?
Aman Gupta was out. He didn’t think the business model would work.
Namita Thapar was out. She didn’t think the business would sustain in the long run.
Peyush Bansal was out.
Anupam Mittal was out. He thought in the long run, the margins would reduce and the business wouldn’t sustain.
Amit Jain was interested in the business but the founder couldn’t convince him enough. That’s why he was out also.
What deal did Swytchd get in Shark Tank India?
Unfortunately, Swytchd didn’t get any deal in Shark Tank India.
|₹50 Lakhs for 3%
|Company Net Worth
What is the net worth of Swytchd?
Currently, the net worth of Swytchd is ₹16.67 Crores.
Is Swytchd still in Business?
Yes, Swytchd is still in the electric vehicle subscription business.