Altor “The smart Helmet”.

Altor, the smart helmet startup was established by Bilal Shakil, Sayan, Shamik Guha, and Anirban Gupta from The Institute of Engineering and Management, Kolkata. In 2019, Altor came into existence. Altor is India’s first range of smart headgears that help in the detection of accidents and immediate prevention. They started it as one of the best friends of the founders expired unfortunately in a bike accident due to no and late solution in the market at that point of time and thus, the team Altor have come up with this brilliant idea.

Altor is a special and smart device that connects to the mobile and any accidents can be detected within a fraction of a second. The inbuild accident detection technology immediately transfers a message to the rider’s emergency contact along with their last known location!

The main and important features of Altor include:

1. Swipe to receive/ disconnect: This is a feature in which the rider can receive or cut the calls easily with a single swipe either up and down respectively
2.Inbuilt navigation: This feature helps us to locate the rider and provide the last known location information if he meets with any trouble or accidents.
3. SOS alert: An alert message will go to the user’s emergency contact automatically when an accident takes place.
4. Reward for safe driving: this is a unique feature where the rider will know his pros and cons of driving and will get reward points for the same which encourages him to ride well.
5. Flagship feature detection.

A Deal With The Sharks

They have pitched their idea in Shark Tank India for an investment of 50 lakhs for 5 percent equity. The sales have started on 15th November 2021 and they have actively sold 100 products along with accepting 500 prepaid orders. The Selling price of a single helmet is 5k while the landed cost comes to 4k with a very low-profit margin.

Even though not yet profitable, the Sharks resonated with the cause and actively came forward with various offers with two amazing deals which are 1) Ashneer, Anupam, and Piyush Bhansal together for INR 50 lakhs for 10 % whereas, 2) Namita and Aman also for 50 lakhs at 10 percent equity. After a lot of discussions among the team Altor, they have bagged a deal of 50 lakhs for 7 percent by Namita and Aman respectively.