Dhruv Vidyut’s electric conversion kit can transform an ordinary bicycle into an electric vehicle. It only takes 20 minutes to fit a DVECK in a cycle. You can connect it to your phone using wifi and Bluetooth to provide information, such as location, GPS, and much more.
More About Dhruv Vidyut
The biggest benefit of DVECK is the pedal charging. Its battery gets charged whenever you pedal. Another significant feature is that the kit remains unaffected by water, mud, electricity, dust, and even fire.
The kit is made from aircraft-grade aluminum that protects the rider and cycle from any malfunction. Their motor is 45% more effective than all the motors available in the market.
Gursaurabh holds a degree in literature. However, his expertise is in product development (manufacturing and R&D). He is an expert in mold and die-making from Aluminium. He worked in that field for 16 years.
He started with motorcycles, then trading motorcycles. Then he moved to parts and manufacturing and eventually to die-making. He switched to electrics five years ago.
He invested his savings in DVECK and even sold some of his assets. He also took loans from family and rural banks. Overall, Gursaurabh invested INR 68 lakhs in Dhruv Vidyut.
Currently, the manufacturing cost of Dhruv Vidyut’s base model is INR 9000. He reduced the cost of the DVECK as low as possible. But he is not efficient with the distribution.
Dhruv Vidyut Shark Tank Pitch and Updates
Gursaurabh Singh appeared on Shark Tank India Season 2 Episode 30 and demanded 100 hours from sharks for 0.5% equity.
Gursaurabh’s pitch started well. He demonstrated the DVECK’s safety measures by putting it on fire and then throwing water at it. The kit kept working. However, he kept speaking and wasn’t listening to the sharks at all. It created a tiny situation where Anupam had to ask him to take a break and let sharks ask the question.
Anupam asked him what he thinks is the value of a shark’s 100 hours. Gursaurabh said the product is still in a nascent stage, and it’s hard to put a valuation. Anupam disagreed with him.
Gursaurabh said he wanted to ensure people could travel 10 km by DVECK-enhanced cycle. He wants to increase that range to 50 km so they can easily access schools, hospitals, jobs, etc.
Vineeta liked his initiative but decided to get out of the deal. She felt she couldn’t commit 100 hours. Namita said she could share her networks with Gursaurabh in terms of EV space. She also felt she couldn’t commit 100 hours and was out of the deal.
Anupam asked him why the product wasn’t launched. Gursaurabh said he wanted to ride at least 40,000 km to be sure. By the time he appeared on Shark Tank India, he had only covered 18,000 km. Anupam asked him why he couldn’t finish 40,000 km in 9 months.
Gursaurabh explained that he has to check all the kits that take 3 hours to charge and 2 hours to discharge. Therefore, it was hard to accelerate the process.
Anupam asked him how he would finance operations for March and April. To which Gursaurabh replied it would be great if he could get some money too. Anupam asked him in what time period he expected sharks to provide their 100 hours.
He said the 100 hours can be distributed in one year in a manner of 2 hours a week. He could connect with sharks through emails, calls, etc. He wanted to reach out to them for queries related to D2C and guidance he can trust.
Anupam gave a conditional offer to Gursaurabh. If Dhruv Vidyut can raise INR 1 crore, Anupam will give them his 100 hours for 0.5% equity.
Peyush remarked that Gursaurabh doesn’t understand business, but he does understand manufacturing. He asked if Gursaurabh could move to Gurgaon. One of Peyush’s factories was built in Bhiwadi and had a vacant floor measuring 1,50,000 squarer feet. Gursaurabh replied moving to Gurgaon wouldn’t be an issue.
Peyush added that Gursaurabh could work with top talents in that factory without any rent or charges.
However, once he decided to raise money for Dhruv Vidyut, Aman, and Peyush will be the first investors. Aman added he would provide people to help with financial planning and everything so Gursaurabh could focus on what he wants. He had only one condition Gursaurabh had to listen to them.
Peyush also said he would visit the factory weekly and sit with Gursaurabh for one hour or half an hour so that 100 hours would be covered in 18 months. Aman and Peyush would divide the 100 hours 50-50 between them.
Gursaurabh again came back to Anupam, but Anupam reiterated the monetary issue he had. Peyush and Aman promised to help Gursaurabh with all the business plans and business-related stuff. Gursaurabh committed to Anupam to raise not just 1 but 1.5 crores and demanded all three sharks.
|Company Name||Dhruv Vidyut|
|Business||DVECK (Dhruv Vidyut Electric Conversion Kit)|
|Profitability||Business is not profitable|
|Shark Tank Episode||Season 2 – Episode 30|
|Asked For||100 hours of sharks for 0.5% equity|
|Deal||100 hours of sharks for 0.5% equity|
|Sharks Invested||Anupam Mittal, Peyush Bansal, & Aman Gupta|
Dhruv Vidyut got a deal of 100 hours of sharks for 0.5% equity on Shark Tank India season 2.
Frequently Asked Questions About Dhruv Vidyut
After their appearance on Shark Tank India Season 2, people were trying to find more information about Dhruv Vidyut. Here are some of the frequently asked questions about them.
1. Who Is The Founder of Dhruv Vidyut?
Gursaurabh Singh is the founder of DVECK.
2. Is Dhruv Vidyut profitable?
Dhruv Vidyut is not profitable.
3. Why other Sharks did not invest in Dhruv Vidyut?
Namita and Vineeta felt they could not commit 100 hours to Dhruv Vidyut and that’s why they were out of the deal.
4. What happened to Dhruv Vidyut after Shark Tank?
Dhruv Vidyut got an offer of 100 hours from three sharks at 0.5% equity. Peyush also offered his factory and workforce to Gursaurabh to work and prepare the product for distribution. Aman also promised to help with business and financial plans.
Anupam agreed to offer guidance. We will update you about Dhruv Vidyut as soon as we get more information from them.