Shark Tank India Episode: Revamp Moto bring EV Utility Bike Mitra and RM25 and Grabbed a Brilliant Deal and Lot of Debate amongst Sharks

A new way to look at the 2 wheelers which comes with more than 10 attachments. The 3 co-founders, Jayesh Tope, Pushkaraj Salunke and Pritesh Mahajan bring the First modular utility platform which is Ravamp Moto Mitra.  The concept of bringing the EV vehicle with utility attachments is one of the first in India and it comes with following features,

• 140 KM in 1 charge
• Top Speed: 65 KM/hr
• Able to carry up to 200 KG Weight
• Comes with 2 Battery Packs
• Along with connected through your mobile phone

Trending now: Shark Tank India Judges Net Worth

Ravamp Moto Mitra Attachments Examples

• Folding Table for Fruits and Vegetable Sellers
• Delivery Basket for Ecom Players
• Small Mobile Fridge (Kool Keep) for Carrying Vaccines, Milk etc – The Kool Keep when used for 5 hours brings down the range from 140 KM to 70 KM.

Price for Revamp Moto Mitra and RM25

• RM25: Rs. 55,000
• Mitra Selling Price: Rs. 1.06L

Note: The above price is as per shown in the Shark Tank India Episode 5, Season 1.

What do the Trio Co-Founders Expected from Sharks ?

Building a brand is what the trio expected from Sharks. Aman Gupta, started with 1 Cr offer at 3% Equity. The pitchers counter offered Aman Gupta for Rs. 1 Cr at 2% Equity. Post Aman’s offer, Ashneer offered Rs. 1.2 Cr at 2.5% Equity. Vineeta and Namita Thapar backed out. Aman and Anupam went back and discussed and came back into a partnership at Rs. 1 Cr at 2% Equity.

The co-founders came into the show with a huge order already in their pocket which was for 50,000 units at an order value of Rs. 250 Crore.

 Coming back, It was a tough fight between the Sharks. Ashneer for getting the deal counter offered with Rs. 1 Cr at 1.75 % Equity.  There were strong arguments between Ashneer, Aman and Anupam Mittal. But after a discussion outside between the co-founders, they decided to go with Aman and Anupam.

What a DEAL, Congratulations Guys!