- Founder/Owner: Trivikram Kumar Dogga
- Business: Robotics
- Ask: ₹72 lakhs for 4% Equity
- Valuation/ Networth: ₹18 Crores
- Funding: ₹72 lakhs for 4% Equity
- Sharks: Namita Thapar & Ritesh Agarwal
- Episode: Season 3 Episode 44
XMACHINES Shark Tank India Pitch:
XMACHINES is a robotics and AI company which appeared on Shark Tank India Season 3, Episode 44. Their aim is to work with Indian Agriculture to follow sustainable practices with the help of robotics. Their Hero product is XMACHINES X100 robot, which is a multipurpose agricultural robot capable of various tasks. It functions like a micro tractor with interchangeable attachments and can be utilized for operations ranging from seeding to harvesting. The founder sought an investment of ₹72 lakhs for 4% of the company, valuing the venture at ₹18 Crores.
XMACHINES started their research and development in 2017. The founder shared that their unique selling proposition is their product’s compact size. X100 is about 42 cm wide and weighs about ₹82 Kgs. It also comes in three sizes: small, mid, and large, depending on the needs of a farmer. The founder shared that X100 is also capable of weed identification and targeted herbicide spray.
XMACHINES’s Revenue & Financials during Shark Tank India:
XMACHINES is working on both sales and rental models but they are yet to enter the market and are still a pre-revenue company. Also, They are currently assembling the products in-house. Furthermore, X100 starts from ₹1.96 lakhs and goes up to ₹4.5 Lakhs. Their average selling price is ₹3.35 lakhs. Also, The founder shared that they are targeting the base price to come close to ₹90,000 at scale. He added that they would be able to achieve that once they get to production of ₹5,000 units per year.
XMACHINES has already raised a funding round in October 2023 where they raised ₹3 Crores at a valuation of ₹18 Crores. There was also an investment raised for incubation funds where they raised about ₹95 Lakhs for around 10% of the company. Further, The company is projecting to reach revenue of ₹300 Crores in the next 5 years. They already have orders for around 20 units.
XMACHINES Shark Tank India Negotiations & Funding:
Anupam was the first shark to go out, citing that he doesn’t see how this business would succeed and compete with what is currently in the market. Aman also goes out citing it’s too early for an investment. Vineeta goes out citing that it was too early for the investment.
Ritesh and Namita come together to give an offer to XMACHINES of exactly what they asked for, which was ₹72 Lakhs for 4% of the company, valuing the business at ₹18 Crores. The founder accepted that offer without any hesitation.
Who is the founder of XMACHINES?
Trivikram Kumar Dogga founded XMACHINES. He is from Hyderabad where he completed his high school and then went to Hong Kong to do engineering.
How is XMACHINES Doing after Shark Tank India?
Our research on XMACHINES revealed that while they did get the deal on Shark Tank India, whether that deal was finalized and closed is still not clear. Early signs, however, suggest that the deal has not gone through, but this could very well be because they are still in the due diligence phase. We will update this article with their revenue and final verdict once more information comes to light. In the meantime, you can check out season 1 companies and Shark Tank India products by clicking the Amazon Button below!
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Source: Instagram @xmachines.ai
Here are other companies from Season 3 Episode 44: