Revamp Moto Pvt. Ltd

Jayesh Tope (Managing Director) holds a Bachelor of Engineering degree from K.K. Wagh Education Society's College of Engineering. He completed internships at Hindustan Aeronautics Limited and Zenith Education, and served as a graduate trainee at Mahindra Group for one year. Shark Tank Talks The founders had worked separately on EV projects in their college days, with a shared dream of entrepreneurship. Jayesh joined Mahindra Group as a Project Engineer after college, then ventured into building an agritech supply chain company during the pandemic. Pritesh Mahajan (CEO) is an alumnus of IIM Sambalpur and has experience as a project manager at State Bank of India. Revamp Moto Wiki He also worked at the State Bank of India for three years and served as the Chief Marketing Executive of Narmada Udyog in 2020 before joining revamp moto. Pushkaraj Salunke (Co-founder & hardware lead) is an engineering graduate from Maharashtra who gained experience at multinational companies including Team.

Revamp Moto builds India's first modular utility electric two-wheeler platform — electric scooters whose core chassis can be transformed into 10+ different configurations through swappable attachments that lock and unlock in 30 seconds, without tools. Their two-wheeler, the Revamp Mitra, is a versatile vehicle designed for more than 10 different purposes, with a particular focus on delivery and assisting street vendors. It can cover a distance of up to 140 kilometres on a single charge, reaching a top speed of 65 kmph, and is capable of carrying a hefty 200 kg load. Sharktankindiaclub The swappable attachment ecosystem — the true innovation — includes: Delivery basket for e-commerce last-mile logistics Food cart for mobile street vendors Folding table for displaying farm produce or consumables Kool Keep mobile fridge for vaccines, milk, and temperature-sensitive goods Garbage hauler for municipal waste collection Passenger seat for personal transport

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

People use two-wheelers basically for travelling, but the founders had a vision that they should be used as small trucks by small retailers. There was no two-wheeler which could perform all the work — and that's how Revamp Moto was born. The founders walked the Sharks through the modular attachment system live — demonstrating how the folding food table locked into the base in seconds, how the delivery basket converted the vehicle from personal to cargo mode, and how the Kool Keep fridge could be swapped in for vaccine or milk delivery. The demonstration was technically sophisticated and commercially grounded — showing not just how the product worked, but exactly who would use it and for what. On the Made in India credentials: Pritesh is the backbone of the technical area. They are following the 90 to 95% Made in India scheme an important point in a Shark Tank season airing during a period of strong government emphasis on Atmanirbhar Bharat (self-reliant India).

Aman Gupta was the first and most enthusiastic offer-maker. His logic was straightforward: he understood the target demographic (urban working India, 18–35), he appreciated the brand-building opportunity in the EV space Anupam Mittal was interested from early in the pitch. Anupam is also an investor in bike taxi service company Rapido ,giving him relevant context in the mobility and micro-entrepreneurship space. Ashneer Grover made a solo competing offer — higher in rupee terms but demanding less equity. Ashneer Grover offered ₹1.2 crore for a 1.25% equity stake Start Up Article — a slightly better valuation implied by the higher amount for marginally lower equity. Vineeta Singh and Namita Thapar expressed admiration for the product and the founders' engineering rigour but stepped back, citing the sector being outside their areas of expertise and value-add potential.

Aman Gupta offered ₹1 crore at 3% equity. The founders countered with ₹1 crore at 2% equity. Post Aman's offer, Ashneer offered ₹1.2 crore at 2.5% equity. BizzBucket Aman and Anupam then matched the offer at ₹1 crore for 1.5% equity. Ashneer countered with a solo offer of ₹1.25% equity. The Revamp Moto founders took a moment and accepted the deal with Aman and Anupam. The founders' choice of Aman and Anupam over Ashneer's marginally better financial terms mirrored the strategic investor selection logic seen with Peeschute's Siddhant.

Deal Status:- Confirmed & Formally Closed Investment Amount:- ₹1 crore Equity Given1.5%