This story focuses on Dandera Technology, Shark Tank India, Otua Electric Bikes, Otua Electric, dandera electric, dandera technologies Pvt ltd, otua shark tank, and Dandera Technologies PVT ltd in shark tank India.
Introduction to the Pitch | Shark Tank India
Kanav Manchanda and Kshitij Bajaj are the founders of the startup “Dandera Technologies Private Limite”. Their startup is a technology-backed auto-manufacturing company. Their actual business is to improve the normal lives of people and they are starting their journey in Lastman Logistics with a new product.
Read This-Ethik | How Vegan Fashion Startup failed to raise funds from Sharks | Shark Tank India | Under20s
What is Otua? | Shark Tank India
This is their first prototype three-wheeler made especially for drive trains with their anti-tilt technology this will be going to change the three-wheeler industry forever. The team has paid special attention to the ergonomics of this vehicle. Even its road visibility in road direction is best. It is powered with a range of 165Kms and 1-ton carrying capacity which is double the market standards.
Dandera Technologies have solved many problems of vehicles from this segment only and from the very first day drivers can earn 70% more than the market prices. The battery is based on Dantech due to which this vehicle can deliver uniform performance on every road condition across the Indian Roads. The biggest USP of this vehicle is that we can make modular changes and use it in various places.
This means that this single vehicle can be used for logistics, passengers, and food trucks. It will be changing with your growing business and will always support you in your business growth.
What is their ask for funding from Sharks?
They are demanding Rs 1 Crore in exchange for 1% Equity. Their company’s valuation is 100 Crores.
Founders have had the automobiles hobby since childhood they used to pull things apart from their toys and then put them back together. These are signs of becoming Rancho from 3 Idiots. This is just a joke but founders have done a great job in identifying the problem and making a solution to that.
QnA | Sharks ask Dandera Technologies | Shark Tank India
How did you both meet each other?
They know each other for 25 Years as they are friends from school,
What is their own investment in the company?
They have invested 70 Lakhs so far in their company and 10 days before coming in shark tank where they have split 49% with another company present in Gurgaon and They are owning 49% of their own company. The rest 2% is with the incubator who helped them to merge.
The new company has to make an infusion of Rs 30 Crores and their initial logistics investment for the first 100 Units will be from those 30 crores.
What is unique in your auto?
Everything present in the market can be copied. Their philosophy is that if you want to stay ahead in the market there’s only one way. Continuous innovation, Keep moving ahead.
Namita Thapar disagreed with their answer as she is from Pune and Baja Autos is also from Pune. The founder himself has worked in Bajaj autos and he described the legacy issues and time they require to turn profits as they have infused a lot of money in their company. The decisions which Dandera technology can take in 2 months they need 8 months for that.
Sharks investing in Dandera Technologies | Shark Tank India
Namita Thapar
There is a very big truffle going in between these legacy companies and startups. Legacy companies will be able to make a pivot and can take the win this race. I’ve bet on them so for that reason I am out.
Peyush Bansal
He is quite sure that new-age companies will surpass the legacy companies because it’s a rule of the world that when new players enter the fray and dominate. He has made his decision as the branding is very impressive and the company has good products. Due to multiple shareholders, he is out.
Aman Gupta
He thinks that they have nothing in their hands even if Aman makes a deal so he doesn’t see any future. This is the reason he is out.
Now Dandera Technologies is left with only two sharks.
Anupam Mittal
He said that EV is a good addition to the industry. He is pleased to see the innovations happening in India but he does not think that he will agree with their valuation. The base of Dandera technologies is very weak so for this reason, he is out.
Ashneer Grover
He made an offer of Rs 1 Crore in exchange for 5% Equity and within three months he will get them Rs 30 Crores. Dandera Technologies will have to remove the exponents.
Where did the deal get closed?
Dandera Technologies were countering the offer and asked them for Debt.
Ashneer offered them 1 Lakhs as Funding for 1 % equity and 99 Lakhs as Debt at a 12% interest rate for 5 years.
Ashneer Closed the deal at his own offer.
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