Gear Head Motors Hyderabad Base is a Startup that sells low-cost electric bicycles and tricycles. Nikhil Gunda and Meher Sai established this electric bicycle firm in 2018. This firm offers to sell electric bicycles at a low cost.
Hero Electronic Bicycle Lectro C3(26) Knight Black costs $26,000, but Gear Head Motors model L bicycle costs $24749 and has more range, speed, and charge time.
This firm offers a bicycle with higher capacity at a lesser price than other electronic bicycles on the Indian market.
Nikhil built a coffee Pre-order app while studying at Anurag University to alleviate a major problem for students and coffee shops. Nikhil and Arya Revanth founded the DigiDine Coffee company in April 2016
So, because Nikhil was interested in electric cars, he founded Gear Head Motors with his college senior, Meher Sai. Initially, this business sold 100 units of electric bicycles, generating an expected income of 70 lakhs. They have around 200 distribution centers all over India.
The founder went on Shark Tank India season 2 episode 4 and requested the sharks for 75 lakhs for 2% stock at a valuation of 37.5 crores. According to the firm, it can supply an inexpensive bicycle for everyone.
What Exactly Are Gear Head Motors?
Gear Head Motors is a low-cost electric bicycle startup, and this bicycle has many features while being considerably less expensive than other manufacturers.
In collaboration with the Cycle Manufacturers business of Ludhiana, the business debuted its first e-bike (ABLE 350) in 2020. It had supplied over 1000 Able 350s in collaboration with the Telangana government.
The firm is currently ready to market four bicycles: MFE MODEL -L, MFE MODEL -I, MFE MODEL -F, and MFE MODEL -E. It will cost 24,749, 28,799, 35,999, and 40,499 dollars.
The bikes all have LED displays, and the business has released the Dash App for the EV community.
|Company Name||GHM WORKS PVT LTD|
|Founder||Nikhil Gunda and Meher Sai|
|Business||Affordable Electric Bicycles and Tricycles|
|Asked For||₹75 Lakhs for 2% equity|
|Final Deal||₹1 Crore for 6.67% equity|
|Shark||Aman Gupta and Peyush Bansal|
|Episode (Shark Tank India)||S2 E4|
|Air Date||Jan 5, 2023|
|Business Status||In Business|
|Headquarters||Hyderabad, Telangana, India|
|Lifetime Worth (Sales)||₹60 Crores *estimated|
|Go To Amazon||Buy Now|
|Watch On||Amazon Prime|
What is the net worth of Gear Head Motors?
Gear Head Motors are currently estimated to be worth 15 crores. This firm will require a significant amount of cash in the near future in order to expand in the Indian and global markets. Both co-founders are working hard to expand their company.
The global market for e-bikes is expected to be approximately $50 billion. The actual size of this business in India has yet to be established. This industry’s market size in India is predicted to be $2 million.
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