- Founder/Owner: Siddharth Madhav & Ha Tade
- Business: Smart Fue Cap
- Ask: ₹50 Lakhs for 5% Equity
- Valuation/ Networth: ₹10 Crores
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 3 Episode 46
FuelV Shark Tank India pitch:
FuelV is India’s first smart fuel cap which can be replaced with regular caps in less then 20 seconds, and comes with fuel meters to ensure users are getting correct amount of fuel as displayed on the meter. Moreover, The product is at final stage of prototyping and ready to go to market. The founders sought an investment of ₹50 Lakhs for 5% asking for a ₹10 Crore valuation.
FuelV has a S variant which can be connected directly with the mobile phones. The founders added that the App for this functionality is currently in development. Also, the device has a battery life of 12 days. Additionally, FuelV comes with 4 magnetic axis, which helps with precise readings. Furthermore, They are planning to price the device at ₹3,000.
FuelV Shark Tank India Negotiations & Funding:
Aman goes out because he could not understand the founder and didn’t like how Ha Tade was not speaking with their parents. Vineeta felt like the co-founder relationship would fall eventually and there is a trust deficit. Due to this, she goes out. Peyush goes out because of too much going on in their personal life. Ritesh goes out due to same reason. Anupam goes out due to business not being defensable thus not sustainable as a business. FuelV leaves the tank without a deal.
Who are the founders of FuelV?
Siddharth Madhav & Ha Tade founded FuelV. They are from Itanagar, Arunachal Pradesh. Siddharth is enrolled in a college in Australia while working at the company and Ha Tade is working full time on this project.
How is FuelV doing after Shark Tank India?
Our research in the FuelV revealed that while they did not get a deal. the show overall had given them a nationwide exposure and Validation. As of April 2024, The company has started to take pre-orders for their products through their website alienversions.com. While their financials are not yet public, we will update this article when more information comes to light. In the meantime, you can check out other shark tank India products by clicking the Amazon button below!
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Here are other companies from Season 3 Episode 46.