Entrepreneur Name – Kalpit Patel
About the Entrepreneur – PMV’s founder is Kalpit Patel, who is known to those around him as a person capable of bringing about a revolution. Kalpit is an engineer by training and has pursued an MBA in addition to working in the banking sector. His curious nature has been a source of inspiration for his friends, who have always believed that he is capable of achieving great things.
LinkedIn Profile – https://www.linkedin.com/in/kalpit-patel-pmv-electric/
| Brand Name | PMV Electric |
| Brand Website | https://pmvelectric.com/ |
| Business Category | 2 Seater Electric Car |
Innovation – Yes, The 2 Seater Personal Mobility Vehicle (PMV®️) is the next generation of driving and a promising alternative to fully utilize today’s economic potential. This mobility vehicle is designed to provide the most efficient urban commute, making it an ideal option for those seeking mobility solutions.
The idea behind the PMV was simple, fueled by curiosity, and supported by months of research and learning. The resulting product offers practical solutions for the future of personal mobility in urban areas.
| Company Valuation | ₹100 Crores |
| Equity Asked | ₹1 cr for 1% Equity |
| Deal Closed | No |
| Final Shark Tank Deal | ₹1 cr for 6.67% Equity |
| Target City/Country | Worldwide |
| Total Addressable Market | USD 1.45 billion |
| Product | 2 seater Electric Car |
About the Product – PMV is a unique personal mobility vehicle that addresses several issues related to everyday car usage. To tackle these problems, the company has introduced Eas-E: Your Everyday Car, India’s first two-seater, fully electric, and smart microcar.
The founder envisions PMV as a distinct category in the market, similar to other established brands. In the beginning, the founder recognized the significant issue of air pollution and produced several car prototypes.
The company was founded in November 2018 and has developed a total of six prototypes. The car can be conveniently controlled through a dedicated app on your mobile device.
Conclusion –
Kalpit Patel asked ₹1 cr for 1% Equity. Shark Anupam offered ₹1 cr for 6.67% Equity. The owner was not convinced. It concluded in a No Deal.
