Dandera Technologies Private Limited

Kshitij Bajaj (Founder & CEO) is the engineering and product architecture lead. One is in business for all his life, the other has 16+ years of experience in automotive technology and electrical engineering. Kshitij's decade and a half in the Indian automotive industry gave him the technical depth to design a vehicle not by converting an existing three-wheeler to electric power — the approach most competitors took — but by engineering the OTUA as a ground-up EV from the chassis up. Kanav Manchanda (Co-founder & COO) manages operations, partnerships, and commercial development. His hospitality and family business background contributes commercial and relationship management skills that complement Kshitij's engineering expertise.

OTUA is India's first ground-up designed electric cargo three-wheeler — a 100% Made-in-India electric commercial vehicle with an industry-leading 165 km range (upgradable to 300+ km), 900 kg payload capacity (double the market standard), proprietary DanTECH lithium-ion battery technology designed for Indian climatic conditions, anti-tilt safety technology, driver ergonomics designed to reduce fatigue and accidents, and modular body configurations for logistics, passenger transport, or food truck use — targeted at India's ₹5 billion growing last-mile delivery and logistics market.

Amount Asked: ₹1 crore Equity Offered: 1% Implied Pre-Money Valuation: ₹100 crore

Dandera Technologies' pitch was the third of Episode 18 — arriving with a physical prototype of the OTUA, the only automotive product brought to the Shark Tank India studio in Season 1. The vehicle's presence in the studio — the largest physical product ever wheeled into the Tank — was itself a statement: this was not a deck, a demo video, or a product sample. This was the machine. Peyush asks where the name comes from. Yes, the idea was the same — Auto spelt backwards is Otua. The founders gave background: one is in business for all his life, the other has 16+ years experience in automotive technology and electrical engineering. The pitch made the India-specific design case clearly: existing electric three-wheelers in India were retrofits — taking auto designs built for petrol engines and adapting them to electric power. The 165 km range and 1-ton (900 kg) payload capacity — both industry-leading at pitch time — were the technical proof points.

Namita Thapar was the most sceptical about competitive dynamics. Namita Thapar disagreed with their answer as she is from Pune and Bajaj Autos is also from Pune. Anupam Mittal exited citing the complex equity structure. Due to multiple shareholders, he is out. Aman Gupta exited citing foundational business weakness. He said that EV is a good addition to the industry. Peyush Bansal exited but with respect for the technology and team. Ashneer Grover was the sole Shark to remain and make an offer — driven by his conviction in the EV market opportunity even at the prototype stage.

The negotiation was Season 1's most structurally complex — involving equity valuation, debt structuring, interest rates, and Ashneer's demand for the removal of the Xponents external stakeholder. Ashneer offered ₹1 crore in exchange for 5% equity and within three months he would give them ₹30 crores if Dandera Technologies removes the Xponents. However, Dandera Technologies countered the offer and asked for some debt. Thus, Ashneer closed the deal at ₹1 lakh as funding for 1% equity and ₹99 lakhs as debt at 12% interest rate for 5 years.

The final deal structure is one of Season 1's most unusual: the equity investment was reduced to a symbolic ₹1 lakh (for 1%), with the substantive ₹99 lakh structured as interest-bearing debt.