Ridev secures INR 1 Cr deal on Shark Tank India Season 5

With a deal that combined loan and equity to support its next stage of expansion, electric mobility startup Ridev emerged victorious from Shark Tank India.
Ridev, which was founded by Manish Kumar Jain and Siddharth Jain, is creating an ecosystem for two-wheeler EV leasing with an emphasis on India’s quickly expanding gig economy. The founders believe the scooters should be made in such a way that the one using can take their families too comfortably. It should not be made only for delivery purpose

Ridev’s pitch focused on a straightforward but urgent issue: gig workers frequently had to deal with expensive upfront car fees, inadequate paperwork, and maintenance delays. In order to address this, the firm offers branded electric scooters for leasing, backed by an expanding fast-charging network.

By October 2025, Ridev had grown from just 10 vehicles in July 2024 to over 1,400 scooters, with a 60% renewal rate and monthly revenue of over ₹9,900 per vehicle.

Related: Experiential Travel Startup Capture A Trip Shines on Shark Tank India Season 5 Episode 2

RIDEV is a brand owned and operated by ANV Web Ventures Private Limited, driving sustainable innovation in quick commerce logistics.
In just 6 months, they have secured over 4,000 electric two-wheelers, with each vehicle generating a steady monthly revenue, thanks to our competitive leasing solutions. With operations already thriving in Hyderabad, Mumbai, Chennai, Delhi, Pune and Bangalore, their goal is to expand further, taking advantage of the growing demand for green logistics.
As businesses shift towards carbon-neutral operations, they stand as a pioneer, offering high-quality electric vehicles on a lease basis, filling a critical gap in the market. At ANV Web Ventures, they believe that the future of quick commerce is green, and they are here to make that transition as seamless as possible.
They are actively seeking lending partners and investors to join them on this journey.

In order to lessen people’s reliance on gasoline and diesel and to improve the environment, this brand especially creates electric vehicles for daily commuting and business use. Ridev’s primary goal is to offer economical, intelligent, and sustainable electric mobility solutions.

Products from Ridev Green Electric Vehicles have a contemporary style, robust construction, and useful features. Their electric cars are still more durable and perform better because they were designed with Indian road conditions in mind.
These vehicles also show to be very cost-effective over time because of their cheap operating costs and simple maintenance. Ridev is also very interested in innovation and technology. The company is always enhancing its smart charging options, effective motors, and battery technology. The Ridev Green Electric Vehicle stands apart from other EV manufacturers because to features like quick charging, increased range, and a comfortable driving experience.

Checkout the company website here: Ridev

Ridev’s vision is to promote clean transportation in India and create a sustainable future for people through innovative and affordable electric mobility solutions.

• RIDEV Business Ask: ₹6 crore for 3% equity,
• RIDEV Business Valuation: ₹200 Crore

• Personal Investment – Rs 40 lakhs
• Funds raised – Rs 3 Crores
• Founders debt – Rs 2.5 Crores
• Vehicle Financing – Rs 5 Crores
• Monthly Revenue per vehicle- Rs 9900
• Monthly Yield on vehicle cost – 7-8%

• Operating expenses – Rs 32 Lakhs
• Interest + others – Rs 20 Lakhs
• Profit before tax – Rs 30 Lakhs

The company currently operates 80 fast-charging stations, with each setup costing around ₹70,000, helping reduce downtime for riders.

Following talks on the Tank, Kunal Bahl joined the company with ₹5 crore in debt at 14.5% interest and ₹1 crore for 3% equity, valuing it at ₹33.33 crore.

As it develops a full-stack electric mobility platform for the gig economy, the new funding will support the startup’s fleet expansion, operational strengthening, and infrastructure expansion.

One promising EV business assisting India’s green mobility revolution is Ridev Green Electric Vehicle. This brand offers consumers dependable and reasonably priced electric vehicle options in addition to promoting environmentally friendly mobility. Ridev would concentrate on hastening the adoption of EVs in India in the near future.