Last updated on 17 February 2024.
Find everything about AI Cars’ pitch on Shark Tank India, founder Harshal Mahadev Nakshane, and the latest updates about the company.!
AI Cars on Shark Tank India
This Indian Startup thinks it has a better solution than the Electric Vehicles.
Here are the key details about their pitch on Shark Tank:
| Name | AI Cars India |
| Founder | Harshal Mahadev Nakshane |
| Episode | Season 3 Episode 9 |
| Ask | ₹2 Crore for 4% Equity |
| Deal | No Deal |
| Sharks | In-business |
| Status | In-business |
AI Cars claims to be the first India’s First hydrogen-based AI-powered vehicle manufacturing startup. The team had made their first car in just 18 months at their garage.
Hydrogen cars are expected to be more sustainable and practical compared to Electric vehicles. They are made with less polluting process and the charging time is also very less.
While EVs are growing everywhere, the biggest concern for buyers is Range Anxiety, where they don’t know how much the car will run and whether it will stop in the middle of nowhere. That’s where Hydrogen cars may help.
But the unique feature of AI Cars is of course the AI. They have made the algorithms to drive cars on Indian roads autonomously.
The founder asked for ₹2 crores in return for 4 equity, valuing it right at ₹50 crores. The aim is to continue the progress and develop the technology further.
The pitch started with sharks Anupam, Namita, and Vineeta going on a test drive on their drive. Still, Anupam thought the prototype was in a very early stage. The startup is trying to solve a lot of problems at the same time.
Pitcher had big ambitions but sharks thought that they were too good to be true. Aman advised him to join another company and share his expertise there.
Namita supported the dreams, but Anupam completely disagreed with her, he said that there was no way it would succeed. Deepinder expressed the same views
Watch the full pitch here:
AI Cars left Shark Tank India with no deal from any investors.
About The Founder
Harshal Mahadev Nakshane is the founder and CEO of AI Cars Private Limited.
He had a dream of making an India Sports Car, but one not running on fossil fuels. He followed up on this in 2015 with 60 lakhs in funding from family and friends and made a car with basic tools.
Harshal studied BE in Mechanical Engineering from Nagpur University and Masters Degree from Symbiosis Institute of Technology. His company was initially called Designs Limited and then BHM Services, before rebranding it to AI Cars in 2022.
After Shark Tank Updates
A lot of people online have shown support to AI Cars’ plans but some people were also hesitant. This is the same argument that Shark Deepinder Goyal put during the pitch. Now, it’s up to the founder to decide which route to go.
By the way, other businesses featured in this episode were Pizza Galleria and Rooftop Art.
Here is the official vision of the company: “We want to offer practical solutions for the sustainable development of humanity and with these breakthroughs, we aim to help foster a worldwide Hydrogen Society by 2030. Now, the AiCars is backing hydrogen to play a significant role in building a sustainable future and reducing society’s dependence on fossil fuels.”
Takeaways
So now you know about AI Cars’ pitch on Shark Tank India and its founder Harshal. We wish him good luck!
And if you don’t know who I am? I am Ranish Chauhan a.k.a. Fulmino Fan, a Fan of the Shark Tank show.