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Gear Head Motors Shark Tank India Review:- With Gear Head Motors, you can experience the thrill of electric bicycles and tricycles that are designed to enhance your daily commute and leisurely rides. Our state-of-the-art electric bikes are powered by a high-performance motor, which offers a smooth and effortless riding experience.
EV Bikes Business In India(Case Studio)
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Entrepreneur Name – Meher Sai & Nikhil Gunda
About the Entrepreneur – The company was founded by Sai Meher Krishna and Gunda Nikhil, both are from Hyderabad.
Nikhil, aged 24, had prior experience running a coffee shop and had also started another venture called Amigo when he was just 19 years old. He later sold the business for a sum of ₹2 crores.
LinkedIn Profiles –
| Meher Sai | https://www.linkedin.com/in/meher-sai-93603391/ |
| Nikhil Gunda | https://www.linkedin.com/in/gunda-akhil-7a9375142/ |
| Brand Name– | Gear Head Motors |
| Brand Website- | https://www.ghmev.com/ |
| Business Category– | Electric Bicycles & Tricycles |
| Company Valuation– | ₹15 Crores |
| Equity Asked– | ₹75 Lakhs for 2% Equity |
| Deal Closed– | Yes |
| Final Shark Tank Deal– | ₹1 Crore for 6.67 % Equity |
| Target City/Country- | India |
| Product/Services– | Electric Bicycles & Tricycles |
About the Product – The bicycles offered by the company, including Model L, Model I, Model F, and Model E, are best suited for shorter distances with a range of up to 60 km per charge.
Although the specifications of these models vary, their performance is consistent.
All models feature a detachable battery with an aluminum casing that aids in keeping it cool. The battery can be charged in as little as 2 hours for the smaller option, and 3 hours for the larger battery. The company also offers customized battery boxes.
Conclusion –
Meher Sai and Nikhil Gunda asked 75 lakhs for a 2% equity stake in their company, but Shark Veenita, Namita, and Anupam withdrew from the deal.
Peyush and Aman made an offer of ₹1 crore in exchange for a 7.5% equity stake in the company, valuing it at ₹13.33 crore, subject to two conditions – the same valuation as the previous investor and a merger between the two companies.
The final deal was ultimately closed with Aman and Peyush offering ₹1 crore in exchange for a 6.67% equity stake in the company, valued at ₹15 crores.
