When Modi Jii said “AtmaNirbhar Bharat”, all the youths started to put their blood and sweat into molding India into the world’s biggest tech country. Following that, a Young Entrepreneur, Harshal Mahadev Nakshane, who hails from Yavatmal in Maharashtra, revealed that the AI vehicle was constructed in his home's tiny backyard garage in just eighteen months.
What is this ‘AI car?’
The Shark Tank India judges were shown an AI vehicle. With its cutting-edge AI system, the car was able to operate on its own. The business owner clarified that the vehicle's eco-friendly design would aid in lowering carbon emissions. He highlighted the car's safety features and mentioned lane departure warning and automated emergency braking.
What was his ask?
Harshal Mahadev Nakshane stated that he and his team built the car in 18 months in a small backyard garage of his house, and he asked for Rs 2 crore for 4% equity. The prototype model, which required five minutes to refuel and has a range of over 1,000 km, is powered by a hydrogen fuel cell and was built for an estimated Rs 60 lakhs.
What happened next?
After analyzing the pitch with interest, the judges decided to test-drive the vehicle. The car's cutting-edge technology and comfortable ride impressed them. They were somewhat concerned about the car's usability, though.
Sharks were impressed by the ride, but none of them were willing to invest because they thought that he was sincere but overly ambitious, especially since he was combining AI with hydrogen in a nation with little infrastructure, little market, and few refueling stations.
Instead, the sharks advised Harshal to get a job at an automobile company and use his skills there to push for new and improved technology, rather than wasting his time building something on his own, which would have required "billions of dollars" rather than the Rs 2 cr that he was asking for.
Deepinder Goyal of Zomato stated that he needs to recognize the practical and realistic obstacles he faces and not allow his "ego" to get in the way.” It's a good thing that people in rural small towns have such broad perspectives. If you see someone is not on the correct path, you feel both proud and a little sad. As he appears to be a bright guy, we have tried," Anupam Mittal concluded.
Though it was an intriguing pitch on the first AI car built in India on Shark Tank. The judges ultimately made the decision not to invest, despite being impressed by the technology. In the AI space, where the market is still developing and there is a great deal of uncertainty, this emphasizes the difficulties faced by entrepreneurs. It also highlights the necessity of ongoing research and development as well as the room for innovation in this area.
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