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Shark Tank India became a fabulous show on the Sony Channel. Then the show made India rethink the startup culture. Even there is no doubt that Shark Tank India instigate Startup Boom.
What is Shark Tank India? It is an Indian show Where startups pitch their ideas, then the Judges might invest in the startups with the exchange of shares.
Anupam Mittal, Vineeta Singh, Namita Thapar, Ashneer Grover, Ghazal Alagh, Peyush Bansal, and Aman Gupta are the Shark Tank Judges.
In the Shark Tank India show, many early-stage startups pitch their idea to seek investment. If their business model is satisfied, then shark Tank Judges will invest in the business. Otherwise, they will voluntarily move out of the investment.
In one of the Shark Tank India episodes, Revamp startup came to raise 1% of the share for 1 crore. Shark Tank India judges were eager to invest in the business.
So, let us know about the Revamp startup initially and then know how Shark Tank judges made the investment.
Revamp Startup at Shark Tank
Shark Tank India got huge popularity for its marvelous contribution to the raise of the spirit startup ecosystem. Even Revamp Startup also came to seek investment.
This startup is an e-vehicles manufacturing company but in a unique way. Now there is the race of EVs in India. Now many countries are aiming to be carbon-free.
Here, Revamp manufacturing vehicle in the space of modular utility platform. Revamp presently showcases the 2 models of Evs in the Shark Tank India show
- MITRA
- RM25
MITRA the first variant of Revamp startup provides unique features. The EV vehicle can be customized as per the requirement. Now, there is an eCommerce competition is going on. On the other side, the logistics side also fueling up to deliver the product at the earliest.
So, the MITRA Revamp EV vehicle can be used by delivery boys. Because the vehicle has a big space at the back where delivery boys can easily keep the bags. Even the vehicle has multipurpose features
- The vehicle can easily help roadside merchants. Because the vehicle can easily convert into the shop.
- Even cool refrigerants can carry to deliver medicines, vaccines, and other sensitive materials.
Therefore, MITRA is useful for many purposes. If we talk about the Revamp MIRA EV details
- Range up to 140KM
- Max speed 65Km/hr
- Have the capacity to hold commodities over 200kg
- Even it has two battery pack systems. So, batteries can be interchanged.
- The MITRA price ranges over 1 lakh. If the government subsidies are provided then costs come down up to 55K.
The other Revamp Startup EV model is RM25. This is a dashing EV vehicle and has stylish look.
RM25 features
- 140KM range
- 65Km/hr Max speed
- Price ranges from 55,000
Revamp founders
Jayesh Tope, Pritesh Mahajan, PushKaraj Salunke are the founders of Revamp startup. These founders are passionate entrepreneurs because they made a lot of hard work, building out this amazing product.
Jayesh Tope had are immense knowledge of startup culture. Even he had founded two startups priority. Other Revamp founder, PushKaraj left the Government Job at SBI serving as Assitant Vice president. So, his passion for startup made him take the decision.
Pritesh Mahajan has great knowledge of tech and IoT specialists. Revamp motors are based out of Nasik and started in 2022. All the three founders worked day-night to build the prototype within 45 days. Then they got orders of over 10,000 units worth 250 crores.
Even the startup has manufacturing units in the north, east, and south. The company source the components from Germany, Tivan, and China as well. So, they are ensuring not to have any shortages result of any crisis( Chip shortage)
Also Read: Jugaadu Kamlesh got lenskart investment
Revamp Shark Tank India Judges
Now, shark tank judges were eager to make an investment in the Revamp motors company. Initially, Vineeta Singh did not make an investment due to the huge capital business.
Then Namita Thapar also came out of the investment to a lack of interest and expertise in the respective field.
Now, Anupam Mittal, Aman Gupta, and Ashneer Grover were ready to make an investment. Then there was a battle for the investment.
Initially, Bharatpe founder Ashneer Grover gave the offer for 1.2cr for 2.5% of the company. Then Aman and Anupam gave a joint offer for 1 Crore for 2% of the company.
No one wants to miss the opportunity to invest in Revamp Startup. Simultaneously, there was a lot of argument between Anupam Mittal ( Shaadi.com founder), Aman Gupta ( Boat founder and Ashneer Grover.
Ashneer Grover claims that he has the largest Kiran stores connection and Bank facilities for loans. The other two investors are known for building brands over the years.
Finally, Ashneer came down to offer 1.25% of 1 Crore and others came to 1.5% for 1 Crore. Now, it’s the call for the Revamp founders Jayesh, Pritesh, and Pushkaraj.
At last, Revamp startup went towards Anupam Mittal and Aman Gupta’s offer. The founders were in need of branding and for the connection with the startups. So, they chose the latter.
Normally in Shark Tank India, startup hardly tires to impress the judges. Then one or two judges make an investment with minor changes in the deal.
But Revamp had a contradiction where judges are literally have heated arguments to make an investment. There was a fierce argument going on among Anupam Mittal, Aman Gupta, and Ashneer Grover.