Gear Head Motors

Nikhil has an engineering background. During his engineering days, he started a coffee shop. He then sold the coffee shop for ₹75,000 to the college. He also created an app called Amigo a QR scanner to take pre-orders. Within 6 months, they were covering more than 300 restaurants. Later, they sold Amigo to a local POS company for ₹2 crore. Nikhil was 24 years old and Meher was 26 years old at the time of the pitch. Nikhil started his first business when he was in college — he owned a coffee shop.

Gear Head Motors is a brand that makes electric tricycles and bicycles from ₹24,000. In one single charge, the bike runs up to 60 km. Hence, if you wish to travel short distances, Gear Head Motors is the number 1 choice.Gear Head Motors manufactures affordable electric bicycles (LIFE range: L, I, F, E models) and electric tricycles for the specifically-abled, cargo transport, and passenger transport designed for India's 400 million short-distance daily commuters who travel less than 30 km per day and cannot afford ₹1–1.5 lakh electric scooters but need a motorised alternative to conventional bicycles. At ₹24,000 (the L model), the Gear Head e-cycle costs less than a premium conventional bicycle from Hero or Trek, while eliminating the physical effort of pedalling entirely.

Amount Asked: ₹75 lakhs Equity Offered: 2% Implied Pre-Money Valuation: ₹37.5 crore

Everyone on the set laughed because the founders gave a funny and interesting oration. Nikhil and Meher opened Season 2 Episode 4 with a song-and-dance performance that immediately made them the most entertainingly unconventional pitch openers of the season. The musical entry using the Shark Tank stage as a performance venue before a single business word was spoken communicated Nikhil's explosive personality and the brand's aspirational "make every home have an e-cycle like every home has a smartphone" vision. Peyush asks "What is your age? How did you start this business?" The founders explained their coffee shop and Amigo app journey before Gear Head Motors.

Vineeta Singh was the first to exit, citing confusion and investment risk. Vineeta was the first to say no to Gear Head Motor's offer because she believed it was a confusing and risky proportion. Anupam Mittal exited on founder credibility grounds the most commercially damaging exit reason. Anupam also dropped the deal for two issues. Namita Thapar exited on trust deficit grounds consistent with Anupam's concerns. Namita was out because of the trust deficit. Peyush Bansal was the most enthusiastic remaining Shark. Peyush says he likes 10x ideas and he feels that this is a 10x idea. Aman Gupta joined Peyush, drawn to the product's democratic EV positioning bringing boAt's "affordable premium for everyone" philosophy to the EV category.

Peyush and Aman offered ₹1 crore for 7.5% equity at ₹13.33 crore valuation, on condition that both entities merge and previous investors receive the same valuation. Nikhil countered at ₹1 crore for 6.67% equity at ₹15 crore valuation. The founders changed their offer to ₹1 crore for 3% equity with both companies merged, which the Sharks declined. The final deal was ₹1 crore for 6.67% equity at ₹15 crore valuation from Peyush and Aman.

Nikhil Gunda and Meher Sai accepted Peyush Bansal and Aman Gupta's joint offer of ₹1 crore for 6.67% equity — valuing the merged Gear Head Motors entity at ₹15 crore subject to the mandatory merger of Gear Head Motors and GHM Labs into a single entity and the condition that previous investors would be brought to the same valuation. Despite the on-air agreement, the deal did not formally close post-show the specific reasons were not publicly disclosed.