How is Dhruv Vidyut doing after Shark Tank India?

Founder: Gursaurabh Singh
Business: Electric Conversion Kit
Ask: 100 Hours for 0.5% Equity
Valuation/ Networth: X Crore
Funding: 100 Hours for 0.5% Equity (Condition – 1. Dhruv Vidyut has to raise ₹ 1 Crore. 2. Aman & Peyush will be the first investors of Dhruv Vidyut)
Sharks: Anupam Mittal, Aman Gupta & Peyush Bansal
Episode: Season 2 Episode 30

Dhruv Vidyut/DVECK Shark Tank Pitch:

Dhruv Vidyut is a company focusing on electrifying the Bicycles of India. The founder shared that 58% of people use the cycle for their daily commute. The company’s invention is called Dhruv Vidyut Electric Conversion Kit or DVECK. DVECK claims to have a 40 Kms of range with 25kph speed. it is also able to take the payload of 170 KG. Gursaurabh wants to take his invention to every household in India for which he sought an investment of 100 hours for 0.5% of the company.

Gursaurabh shared that he posted a video on likedin with his invention where Peyush, Anupam and Aman even tried reaching out to him for help but he couldn’t respond to that. DVECK can be bolted on to reto bycycles and takes 20 Mins to fit and convert any cycle to an electric one. It can also be connected to the mobile phone and can provide GPS coordinates of a bicycle. The breakthrough is pedal Charging capabilities. It is also tested for all weather conditions. The product is made from Aircraft grade Alminium.

Gursaurabh shared that he needs sharks support to bring down the cost as he thinks that this is all he could do on his own and he wasn’t able to bring it down even after considering manufacturing this abroad. secondly, He also needs help with distribution. DVECK’s base model costs 9000 INR to Manufacture. Founder claims that the DVECK’s motar is 45% more efficient than any other available motar on the market.

Gursaurabh has spent ₹68 lakhs so far on this project. His vision is to first make an impact and then make profits therefore, He added that as of time on the pitch, he has not thought about selling just the motor to the other manufacturers.

Dhruv Vidyut/DVECK Shark Tank Negotiations & Funding:

Vineeta was the first shark to go out because she couldn’t commit 100 hours to this project. Namita likes the Gursaurabh and she thought he was a marketing guru but she also couldn’t commit 100 hours therefore she also steps out of the Negotiations. She did however offer access to her network to Gursaurabh.

Anupam had a feeling that the founder was hiding something and things were not adding up. He also added that he wasn’t convinced on how Gursaurbh will survive without money as he did not ask for investment in the tank and he was running out of resources from outside as well. Despite that, Anupam offered exactly what company asked for but with a condition that Gursaurbh will need to raise ₹1 Crore in this company.

Peyush stated that Gursaurabh didn’t understand the business but only knew about manufacturing. Peyush offered a space to the founder to work in his factory where he had top talent from all over India working as well which could help the founder with his innovation. He said he would give Saurabh time to work on the innovation rent free but once he is ready to take this further, Peyush and Aman would be the first financial investor in this venture. Therefore they offered the founder exactly what they asked for. Gursaurabh wanted to take Anupam in this deal as well therefore he wanted him to Join with Peyush and Aman. With that, they all shake hands on this investment.

Who is the Founder of Dhruv Vidyut?

Gursaurabh Singh founded Dhruv Vidyut. He is from Hisar, Haryana. He considers his expertise to be research and development of Products. Gursaurabh worked in manufacturing in the past where he spent 16 years.