Achiever's Success Story
Understanding the need of sustainable environment
One needs to pursue one’s dreams to make it a success, as it is passion coupled with hard work, consistent efforts, and good partnerships that bring in desired results. That is the story of Cab-E, a venture conceptualized in May 2019 and started in December 2019 – by three like-minded friends Kuldip Ghosh (ICFAI & IBS Alumnus), Indraneel Chakravarty (BU & Symbiosis Alumnus), and Nitin Sharma (IIT Delhi & JBIMS Alumnus) who, have excelled in their respective fields in different Corporates and each come with 22+ years of experience. They have been united by a common vision, to be India’s most respectable Urban Mobility Company, which transforms and enhances value for the Country, the Society, the Commuters, and all associated Partners.
Before Cab-E hit the streets, the co-founders set out to understand the nuances present in the current ride-sharing ecosystem. They realised that the current business models, not only contribute to the environmental degradation, but also failed to provide for both – the customers as well as for the Drivers, with an appropriate amount of value. Cab-E was established with a clear goal, to transform the commuting space which included a four-pronged approach of Sustainable Energy Services, Social Upliftment, Industry-first Consumer Benefits and Wealth Creation for all Stakeholders.
A dream that was building up has now started to take form. Despite having launched in the midst of the COVID Pandemic, Cab-E has now attained ‘market relevance’ and after a very successful PoC, is standing on its feet, ready to start spreading joy. Today after 18+ months of active operations, Brand Cab-E has managed to acquire a huge 100K+ customer base in Mumbai (and Pune), complete 28K+ trips, serve 6L+ kms. of smiles with an average rating of 4.96 and has already saved 180+ tonnes of carbon dioxide for the city of Mumbai. All this with a very small fleet of EVs.
The main value propositions of Cab-E include – to promote “CLEAN ENERGY” through 100% Electric Urban Mobility to save Mother Earth, change the lifestyle of the Cab Drivers in India – both from a financial as well as from a psychological standpoint – through their unique DCO model, enhance the Customers’ end-user Experience through transparency in pricing, Zero cancellations, Zero Surge, Zero Technology Usage, Cancellation, and Waiting Charges and finally, to create the largest private Charging Infra Structure Set Up in the EV space.
In their journey so far, CAB-E has employed over 100+ unemployed drivers, assisted with vaccination efforts for the elderly or senior citizens, facilitated employee mobility for an IT major, launched an inexpensive ambulance service – all of which also contributed to conservation.
They have also created a large charging infrastructure for themselves with 12 fast chargers and 30 slow chargers across their 6 HUBS in and around Mumbai, partnering with 3 Private Charging giants, for the exclusive use of their EV charging at their various Hubs. Going ahead, Cab-E plans to increase their Hubs to 100+ in the current financial year.
Adding a feather, Cab-E has now tied up with the Govt. of Maharashtra for generating Self Employment for a given community in the state. Under this agreement, they have started deploying, the planned 20,000+ EVs, which is more of a Community Service Program to uplift the particular section of the community. In addition, they are also establishing a comprehensive network of EV charging infrastructure to help support these EVs.
After laying the groundwork for Brand Cab-E in Mumbai, the team intends to build on its success. For the time being, the team will focus on developing and growing Mumbai, with plans to have a substantial market presence in Pune, Bangalore, and Hyderabad within the next 2 to 3 quarters. This will assist in passing the conservation baton to the next level, before they embark on Pan-India activities and later foray into the global markets.