SEPAL Shark Tank Pitch:
SEPAL, a startup, has introduced the SEPAL in Shark Tank, a groundbreaking canopy designed to shield motorcycle riders from all weather conditions, including sun, rain, wind blasts, and extreme temperatures. Constructed using durable fibre-reinforced plastic capable of withstanding speeds up to 120KmpH, this innovation offers comprehensive protection for riders. They claim to be the first of a kind in the world. SEPAL is used in 25 States in India and have been shipped across the world as well.
SEPAL also converts bike to smart bike which allows users to control the phone screen with buttons. It supports Navigation, Phone calls etc. SEPAL is easy to install for any individual. The Company Priced SEPAL at ₹10,000 but founders add that its possible to sell this at ₹5000 with bigger production numbers. Their Lifetime sales are at 1000 units in the 7 months since their inception. They sold 160 units last month. As the pitch was shot in September 2022, Their last three months numbers were at ₹10 lakh, ₹12 lakh and ₹13 lakh for months on June, July and August respectively. Their Gross margin is at 37% and they are expecting net of 17%.
SEPAL has a design patient granted to them. Founders shared that they have also raised a prior investment of ₹2.2 Crores at $3 million valuation which comes to around ₹22.5 Crores. This was done in the year 2022 as well. The company’s vision is to move towards IOT platform in few years because they realized this tech will be commoditized.
SEPAL Shark Tank Negotiations & Funding:
Amit went out of the deal because he thought the pricing of the device was too high for the masses in India. Namita goes out of the negotiations as well citing her pricing concerns as well. Anupam says he doesn’t understand which problem are they solving therefore he steps out of the negotiations as well. Aman didn’t like the style factor and had concerns about how it could be copied for much lesser price.
Peyush thinks that the business is way too early and he loves the entrepreneurs. He offers ₹50 Lakh for 2% of the company. The founders try to counter but Peyush refuses to negotiate. Sharks made some comments on how Peyush was making a bad investment. SEPAL accepted Peyush’s offer and they shook hands on ₹50 lakh for 2% equity.
Who are the founders of SEPAL?
Kashyap Addepally & Vidhey Addepally Founded SEPAL. Vidhey is a civil engineering graduate from IIT Bombay. He thought of this venture after getting into Stanford, he decided not to go to Stanford and pursue this Business. Kashyap is a design student and studied in the United Kingdom.
How is SEPAL doing after Shark Tank India?
Our research in the company revealed that their Shark Tank India deal with Peyush closed after the show. SEPAL continued with their plans to move forward with their plans to go or IoT module which can be purchased through their website. we also noticed that they were also able to reduce the pricing of their hero product to ₹6,899 which was one of the main reasons why some of the sharks did not give the investment.
As of December 2023, SEPAL is still in business and thriving.
Source: @sepalmoto Instagram
Here are other companies from Season 2 Episode 16.
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