Upgrade Your Bicycle to Electric with Dhruv Vidyut's DVECK

Dhruv Vidyut is a startup founded by Gursaurabh Singh, who is from Haryana and has a background in manufacturing industries. His expertise lies in dye and mold making, and he has been working in the aluminum sheet-making industry for 16 years. Despite not having a specific technical degree, he has a strong interest in the motor industry and has worked hard to create an electrical invention that converts normal bicycles into automatic bicycles.

The invention, called DVECK (Dhruv Vidyut Electric Conversion Kit), is easy to handle and can be fitted onto any retro bicycle in just 20 minutes using bolt features. The device is Wifi enabled, allowing users to keep track of their location, speed, and distance. Its unique selling point is that it can be charged with pedalling. Just 20 minutes of pedaling can charge up to 50%. The machine is dust proof, fireproof, and waterproof, made from aircraft-grade aluminum metal so that if anything happens inside the kit, it will not harm the rider in any way.

AIM OF THE STARTUP

The aim of Dhruv Vidyut is to revolutionize the use of bicycles by making them more efficient and user-friendly. The company's founder, Gursaurabh Singh, noticed that while bicycles have been used for centuries, they have not evolved with technology. To address this, he invented DVECK, which converts traditional bicycles into automatic ones in just 20 minutes.

The DVECK kit offers several unique features that set it apart from other motors in the market. It is Wifi-enabled and can be charged with pedaling, making it a sustainable and cost-effective option for users. Additionally, it is dustproof, fireproof, and waterproof, ensuring rider safety.

By offering an innovative product that enhances the performance and convenience of bicycles, Dhruv Vidyut aims to attract a wide range of customers, including those who may have been hesitant to use traditional bicycles due to their limitations. The company's focus on sustainability and affordability aligns with the growing demand for eco-friendly and cost-effective modes of transportation. Overall, Dhruv Vidyut's aim is to promote the use of bicycles and provide a better cycling experience for all.

USP OF THE STARTUP

The unique selling proposition (USP) of Dhruv Vidyut is the DVECK (Dhruv Vidyut Electric Conversion Kit), which can convert traditional bicycles into automatic bicycles in just 20 minutes. This conversion kit offers several features that set it apart from other motors available in the market.

Firstly, the DVECK is Wifi-enabled, allowing users to keep track of their location, speed, and distance. This feature enhances the user experience, making it easier for riders to monitor their performance and plan their routes.

Secondly, the DVECK can be charged with pedaling, which is a sustainable and cost-effective option for users. Just 20 minutes of pedaling can charge up to 50% of the battery, reducing the need for frequent charging and extending the battery life.

Thirdly, the DVECK is made from aircraft-grade aluminum metal, making it dust proof, fireproof, and waterproof. This ensures the safety of riders in case of any mishaps or accidents.

Lastly, the DVECK is 45% more efficient than any other motors in the market, offering a superior performance that enhances the riding experience. The top speed is 25 km/hr, and it has a range of 40 km for a full charge.

TARGET MARKET

Dhruv Vidyut's target market is individuals who are looking for an innovative and convenient way to enhance their cycling experience. The DVECK (Dhruv Vidyut Electric Conversion Kit) is designed to convert traditional bicycles into automatic ones, making it an ideal product for people who already own a retro bicycle and want to upgrade it to a more efficient and user-friendly model.

The product is also targeted towards individuals who are environmentally conscious and looking for sustainable modes of transportation. The DVECK's ability to be charged with pedaling and its overall sustainability aligns with the growing demand for eco-friendly transportation options.

The product's price point is also targeted towards the middle-class market, with the manufacturing cost of the kit being 9000 rupees. This makes it an affordable option for individuals who may have been hesitant to purchase an electric bicycle due to the high cost of these types of vehicles.

In addition to individual consumers, Dhruv Vidyut's target market could also include businesses that offer bicycle rentals or delivery services, such as food delivery companies or courier services. By upgrading their existing bicycles with the DVECK, these businesses could offer a more efficient and sustainable mode of transportation for their services.

POTENTIAL OF THE PRODUCT

The startup Dhruv Vidyut is still in the prototype stage and is planning to launch its product, DVECK, in April. There is no current sales of the startup.

However, based on the product features and the potential benefits it offers, there could be a significant demand for DVECK in the market. The fact that it can be easily fitted onto any retro bicycle and can be charged with pedaling could attract a large customer base who may be interested in converting their old bicycles into electric ones.

Moreover, the USP of the product, i.e., being 45% more efficient than any other motors in the market, could also give it a competitive advantage and help drive sales. The product's ability to track location, speed, distance, etc., through wifi connectivity could further enhance its appeal among consumers who are looking for a smart and efficient mode of transportation

JOURNEY ON SHARK TANKS

Dhruv Vidyut, a startup from Shark Tank India, secured funding from Aman, Peyush, and Anupam in exchange for 0.5% equity in the company and 100 hours of their time. However, the funding came with certain conditions.

Anupam initially offered 100 hours of his time in exchange for 0.5% equity with a condition that Dhruv Electric would raise 1 crore rupees. Peyush made a different offer, providing a 1.5 lakhs square feet area in his Bewari factory where Dhruv electric would work with several teams. After 1 or 1.5 years, when the product would be ready for launching in the market, Peyush along with Aman would be the first investors in the company.

Finally, Aman, Peyush, and Anupam agreed to fund Dhruv Vidyut with the following conditions: Dhruv Electric would raise 1 crore rupees and work with several teams in the Lenskart Bewari factory. After 1 or 1.5 years, when the product was ready for launching in the market, Peyush along with Aman would be the first investors in the company. In exchange for this funding, they received 0.5% equity in Dhruv Vidyut and committed 100 hours of their time.

This funding deal provided Dhruv Vidyut with the necessary capital and resources to continue developing their product and launch it successfully in the market. The support from experienced investors like Aman, Peyush, and Anupam could also be beneficial for the startup's growth in the long run.