Revamp Moto’s Electric Scooters Revolutionize Commuting On Shark Tank India

Revamp Moto at Shark Tank India

Three points you will get to know in this article:

  • Revamp Moto creates electric two-wheelers for commuting with accessories, financing and B2B.
  • Sunfox secured ₹1 crore investment from Shark Tank India, boosting Spandan’s revenue by 40x.
  • Revamp Moto serves customers in various tech sectors for both B2C and B2B markets.

Shark Tank India Featured Revamp Moto

Revamp Moto is a company that develops and produces electric two-wheeled vehicles, such as scooters. These electric scooters are designed for daily commuting, as well as for patrol or security purposes. Currently, Revamp Moto has two different models of electric scooters available for purchase or use. Driven by a shared vision of “Empowering the Society by Providing Sustainable and Adaptive Solutions” and a mission to “Impact 1 Million lives by 2028”, the company offers a range of products and services, including electric vehicles with attachments and accessories, micro-financing options, a B2B network connecting platform, and mentorship and assistance for aspiring micro-entrepreneurs.

Founders Of Revamp Moto

Pritesh Mahajan (The Enabler) : An IIM Sambalpur alumnus with experience as a Project Manager at SBI. The visionary who leads Revamp Moto with an unwavering commitment to providing sustainable and adaptive solutions. His strategic acumen and entrepreneurial spirit have been instrumental in shaping the company’s trajectory and brand image in the EV industry.

Jayesh Tope (The Hustler): A Mechanical Engineering graduate who has worked on the Mahindra Thar project. He steers Revamp Moto’s financial and human capital management endeavors with a focus on work culture and growth. His deep understanding of business processes and market dynamics has been crucial in ensuring the company’s financial stability and expansion.

Pushkaraj Salunke (The Hacker): A seasoned professional in robotics and IoT, known for creating his own Humanoid. He oversees the technological and operational aspects of Revamp Moto. His technical prowess and resolute focus on innovative breakthroughs have been the driving forces behind the company’s groundbreaking solutions and offerings.

Secure A Significant Investment on Shark Tank India

Revamp Moto pitched their electric scooters on a popular business reality show shark tank india, seeking an investment of INR 1 crore (approximately $125,000 USD) in exchange for a 1% equity stake in the company. Two of the show’s investors, Anupam Mittal and Aman Gupta, decided to invest the full INR 1 crore, but in return, they asked for a slightly larger equity stake of 1.5%. Another investor, Ashneer Grover, offered INR 1.2 crores (approximately $150,000 USD) for a 1.25% equity stake, but Revamp Moto refused to accept this offer. After successfully securing the investment from Anupam Mittal and Aman Gupta, Revamp Moto launched its RM Buddie 25 electric scooter and has continued to grow and thrive as a company.

Sectors And Market Segments Revamp Moto Operate In

Revamp Moto operates in both the business-to-consumer and business-to-business markets, and it is involved in several different technology-related sectors, including energy, automotive, transportation and logistics, and environmental technologies. The company serves customers in these various market segments.

Funding Revamp Moto Raised Till Date

Revamp Moto has raised a total of $1.82 million in funding over two rounds. The first funding round for Revamp Moto was on January 5, 2022, where they raised $1.15 million in a seed round. This seed round involved 20 investors, including Aman Gupta and Anupam Mittal. The latest funding round for Revamp Moto was a $673,000 seed round on May 7, 2023. This round involved 3 investors: Z Nation Lab, BizdateUp, and 1 more investor. The post-money valuation of Revamp Moto after the latest funding round was $3,787,742, and the revenue multiple was 5,086,370.

Investors in Revamp Moto

Revamp Moto has 14 institutional investors, which are companies or organizations that invest in other businesses. The specific institutional investors mentioned are LetsVenture, CapFort Ventures, and Z Nation Lab. The largest institutional investor in Revamp Moto is a venture capital firm called Veda VC. In addition to the institutional investors, Revamp Moto also has 12 angel investors. Angel investors are typically wealthy individuals who provide financial backing to entrepreneurs and new businesses. One of the named angel investors is Anupam Mittal.

Competitors of Revamp Moto

Revamp Moto has a total of 297 competitors, and it ranks 20th among them. Out of the 297 competitors, 37 of them are funded, which means they have received investment or financial backing from investors. Additionally, 3 of the competitors have already exited, which likely means they have been acquired or gone public. Revamp Moto and its 297 competitors have raised over $3.22 billion in funding across 140 funding rounds, involving 967 investors. Within the entire competition set, there is 1 private unicorn company (a privately-held startup valued at over $1 billion), 1 public company, and 2 acquired companies.

Aspiring entrepreneurs from across India come to Shark Tank India to present their innovative ideas and business models, hoping to secure the investment needed to take their startups to the next level.

Manvendra Hada

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