Electric Bicycles Conversion Kit Dhruv Vidyut Captured Investor Attention on Shark Tank India

Dhruv Vidyut is a company dedicated to electrifying bicycles in India. The founder pointed out that 58% of people use bicycles for their daily commutes. Their key innovation is the Dhruv Vidyut Electric Conversion Kit, or DVECK. This kit boasts a range of 40 kilometers and can reach speeds of 25 km/h, accommodating a load of up to 170 kg. Gursaurabh, the founder, aims to make his invention available to every household in India and is looking for an investment of 100 hours in exchange for 0.5% ownership of the company. He mentioned that he shared a video on LinkedIn showcasing the DVECK, which attracted attention from Peyush, Anupam, and Aman, who reached out for assistance, but he wasn’t able to respond to them.

Click here to visit their official website: Dhruv Vidyut

The DVECK can be easily attached to retro bicycles and takes just 20 minutes to install, converting any regular bike into an electric model. It can connect to a smartphone to provide GPS tracking for the bicycle. One of the standout features of the kit is its pedal charging capability, and it has been tested for performance in all weather conditions. The product is crafted from aircraft-grade aluminum. Gursaurabh expressed his need for support from investors to help lower production costs, as he has reached the limits of what he can do alone. Despite considering manufacturing abroad, he has not succeeded in decreasing costs. Additionally, he seeks help with distribution strategies. The base model of the DVECK costs ₹9,000 to produce. He claims that the motor in the DVECK is 45% more efficient than any other motor currently on the market.

So far, Gursaurabh has invested ₹68 lakhs into this project. His goal is to create a positive impact first and focus on profits later; therefore, he has not yet considered selling the motor to other manufacturers.

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Gursaurabh Singh is the founder of Dhruv Vidyut, a company based in Hisar, Haryana. He believes his strong suit lies in the research and development of products. With 16 years of experience in the manufacturing sector, Gursaurabh has a solid background that supports his current ventures.

Two investors, Vineeta and Namita, both decided not to invest in Gursaurabh’s project. Vineeta was the first to leave because she couldn’t commit the time needed (100 hours) for the project. Namita also liked Gursaurabh and thought he was good at marketing, but she too couldn’t commit the time, so she stepped out. However, she offered to help Gursaurabh by connecting him with people in her professional network.

Another investor, Anupam, had doubts about Gursaurabh. He felt that Gursaurabh was not being completely open about the project’s challenges and wasn’t sure how Gursaurabh would manage without immediate funding. Despite his concerns, Anupam agreed to invest as much as Gursaurabh was asking, but he put a condition on it: Gursaurabh needed to raise ₹1 Crore (a significant amount of money) from other sources as well.

Peyush thought that Gursaurabh didn’t fully understand his business, as he only knew about manufacturing. Peyush offered Gursaurabh a place to work in his factory for free, where there are talented people who could help Gursaurabh improve his product. Peyush and another investor named Aman agreed to invest in Gursaurabh’s project when he was ready, but they wanted to ensure he had a chance to develop his business first.

Gursaurabh wanted Anupam to be part of the deal, so he asked Anupam to join Peyush and Aman in investing. They all shook hands and reached an agreement to support Gursaurabh’s venture together.

Our investigation into the company reveals that the deal with the Sharks did not materialize after their appearance on Shark Tank India. However, Gursaurabh has continued to focus on his innovation and began accepting pre-orders via their Instagram page in August 2023. Some users mentioned that the price for the product was set at ₹15,000. As of May 2024, Dhruv Vidyut remains operational. Although the company’s financial details have not been made public yet, we will update this article as soon as we receive more information.