Modular electric two-wheelers with detachable accessories like food warmers, storage boxes, and trolleys are Revamp Moto’s specialty. The team showcased a strong technical background and a passion for creating solutions tailored to India’s evolving EV market. Ideal for delivery personnel, farmers, and small businesses. Promoting green energy solutions to reduce carbon emissions. Offering affordable and adaptable EVs for specific customer needs. Their flagship model, RM Mitra, was highlighted as a groundbreaking vehicle in this segment.

Company Name: Revamp Moto

Founder: Jayesh Tope, Pushkaraj Gokhale, and Pritesh Mahajan

City: Nashik

Product: E-Bike

Highlights

• The founders discussed their early-stage development and ambitious plans to capture the growing EV market, particularly in the utility-focused two-wheeler segment.
• The sharks questioned the steep valuation for a company in the pre-revenue stage, highlighting the risks involved in EV manufacturing.
• Entering the EV space requires substantial capital and R&D to compete with established players.
• Manufacturing and distribution in the EV sector are capital-intensive, with challenges in scaling production efficiently.
• Educating and acquiring customers in a niche segment like utility-focused EVs could take significant time and resources.
• The revised valuation took into consideration the risks involved while reflecting the sharks’ faith in the team and product. The investment gave Revamp Moto the money and strategic direction they needed to grow more quickly.

Pitch Details

Ask: ₹1 crore for 1% equity

Deal: After negotiations, Jayesh, Pushkaraj and Pritesh secured a deal for ₹ 1 crore for 1.5% equity.

Investors: The investment came from Anupam Mittal and Aman Gupta.

Conclusion

With its creative approach to electric mobility and emphasis on workable solutions for delivery professionals and small businesses, Revamp Moto’s pitch stood out. The sharks were won over by the startup’s passion, market knowledge, and unique concept, despite obstacles like high value and scalability. In addition to confirming their concept, the funding gave them the strategic guidance they needed to successfully negotiate India’s cutthroat EV market.

The modular concept provided a clear competitive advantage in addressing specific user needs. With India’s push towards sustainable mobility, Revamp Moto’s timing aligned well with industry trends. The initial ask of ₹1 crore for 1% equity reflected an ambitious valuation, which the sharks found unrealistic given the pre-revenue stage. In addition to financial resources, the investors provided priceless guidance on branding, market penetration, and production scaling. The marketing know-how of Aman Gupta and the strategy-focused approach of Anupam Mittal.

Significant findings

• Innovation Is Key
• Flexibility in Valuation
• Scalability Challenges in EVs
• Importance of Strategic Investors