Gear Head Motors Rides the Deal Tide With the Sharks!2 weeks ago Rituka M
With electronic vehicles in a boom right now, it becomes essential to have an affordable electric bicycle and tricycle brand. The brainchild of V Sai Meher Krishna & Gunda Nikhil, Gear Head Motors is a Hyderabad-based startup. Selling at a price range starting from Rs. 24,000 up to Rs. 38000, the e-bikes run 50km per charge. They have the vision to make gearhead bikes a household name. With total revenue of Rs. 4 crores and a projection of Rs 20 crores, currently, there are 4 models available.
Gear Head Motors has already signed a 20 crore government order for tricycles. However, the order will not be fulfilled this year. The 4 models that are available are L,I,F,E which have a detachable battery. For the smaller bikes, the battery charge lasts for 2 hours, and for the bigger bikes, it lasts for 3 hours. The battery is lithium-ion, and the battery box can be customized.
With the equity split of 60-40 between the founders, Gear Head Motors seeks an investment of 75L for 2% equity @ a 37.5 cr valuation. Upon discussions with the Sharks, it was revealed that there is a parent company called GHM labs where the designs and technology are developed. The founders countered with a new offer for the merged entity of GHM labs and Gear Head Motors’ at 1 crore for 3% equity @ a 33.33cr valuation. They got an offer from Sharks Aman and Peyush for 1 crore for 7.5% equity @ a 13.33cr valuation. The founders chose this offer and are on a ride to bring e-bikes to every home in India.
Patil Kaki seals the deal!
In this fast-paced world where we live away from home, home-style snacks can definitely cure our homesickness. To bring us a home away from home, Vinit Govinda Patil, Geeta Govinda Patil, and Darshil Anil Savla turned their small business of snacks with 5000 into a thriving company called Patil Kaki. Starting in 2020, Patil Kaki sells home-style and hygienic snacks to users from their website. Being a primarily women-run business, the products are hand-made and semi-automated. They offer a range of snacks, modaks, and Puran polis, among others. currently, the shelf life of these products is 25-30 days, but the founders plan to expand the products to increase the shelf life through nitrogen flushing. For lower shelf-life products like modaks and puran polis, they plan to dive down the cloud-kitchen route.
With a dream to reach every house in India, they have currently made 1.02cr to date this year and have a gross margin of 25%. They seek an investment of 40 lakhs for 2.5% equity. They received multiple offers from Sharks Anupam, Vineeta, Aman & Peyush. Sharks Anupam and Peyush offered them 40 lakhs for 4% equity @ a 10cr valuation. Patil Kaki decided to team up with Anupam & Peyush.
Brandsdaddy AFE sign a deal to put out fires safely with Sharks!
Dealing with fire incidents in the nick of the moment can seem quite a stressful thing. Most times, there is a lack of information about how to use the extinguisher or fire equipment. There is a 66% shortage of fire stations, 78% of equipment, and over 90% of people are unaware of how to use the extinguisher. Moreover, there is a massive shortage of firefighters. To solve this problem, Roshaan & Annkita Mishra began Brandsdaddy AFE (Auto Fire Extinguisher). Their product is an Auto Fire Extinguishing Ball that can instantly extinguish the fire to assist in evacuating. The ball has a shelf life of 5 years, is portable, and is made in India.
Brandsdaddy primarily sells its product currently to companies, the government, insurance agencies, etc. The product costs Rs. 5000 direct to the consumer and from a B2B aspect, the price is Rs. 1000-1500. In FY21-22, the company had sales of 1.44 crores with a growth rate of 184.3% since inception. With 12-12.5L monthly sales, their gross margin is 60% with a net of 10%.
Seeking an investment of 70L for 5% equity @ a 14cr valuation, they received an offer from Shark Namita for 35L for 5% equity and 35L in debt @12% interest @ a 7cr valuation. The founders chose this offer. With their tagline ‘Phattega bomb, bhujegi aag’, they aim to equip people with the ability to put out fires.