Vecros founders pitched on Shark Tank India for the ask of ₹1 core investment in return for a 2.5% stake in the company. Vecros manufactures AI-powered drones, and the founders demonstrated one of their advanced drones on the show.
Anupam Mittal flew their most advanced drone, Athera, but that crashed on the Shark Tank set. Will Vecros get any offers from the shark after their most advanced product failed on the show? Find out in this episode recap.
About Vecros Robotics
Established in 2021 by experienced individuals Besta Prem Sai and Rajeshree Deotalu, VECROS has introduced India’s pioneering Spatial AI technology tailored specifically for drones.
The main product of the company, called ‘Athera,’ is an independent drone powered by its advanced ‘JetpixTM’ operating system. The unique technology allows the AI to understand space and structure, which helps ensure safe navigation.
VECROS has introduced groundbreaking drone technology. It offers a complete hardware and operating system solution, boasting an impressive 70% cost reduction and a 60% decrease in flight time per task.
Currently, it leads the drone market with level 4 autonomy and is progressing towards achieving level 5 autonomy. This capability enables a drone to take off, survey an area, and provide insights autonomously without requiring any human intervention.
Some notable features include automatic mission scheduling and advanced video management capabilities.
The drone inspection and monitoring market is anticipated to reach $30 billion by 2026. meanwhile, the commercial security sector presents a significant opportunity of US$1 billion annually over the next decade.
VECROS has applied for more than 10 patents and is currently conducting trials with the Indian army, as well as security and logistics firms.
The company’s selection for the Indian Army’s IDEX program shows its dedication to developing autonomous mapping and solutions.
|Besta Prem Sai and Rajeshree Deotalu
|Spatial AI Drones
|₹1 crore for 2.5%
|₹20 lakh for 1% equity + ₹80 lakh debt @10% for 3 yrs
Vecros Shark Tank India Episode Recap
The founders began their pitch by showcasing their self-flying drone, ATHERA. They also discussed its numerous applications and how it can assist in automatically gathering data across various industries.
And, then they went on to request INR 1 crore for a 2.5% equity stake. They placed the of the Company at INR 40 crores.
The discussions began when Namita Thapar wanted to know about their career backgrounds and how they got the idea for their business. Meanwhile, Aman Gupta inquired about their competitors and what sets them apart from other drone companies.
Anupam Mittal also asked about their technology and innovation. He was curious about their market size and business processes.
Deepinder Goyal inquired about their previous investments. He asked the founders to provide insights into their past funding rounds.
Finally, they secured a deal with Aman, acquiring Rs 20 lakh for a one percent equity stake, along with Rs 80 lakh in debt repayable over three years at a 10 percent interest rate.
Who founded Vecros Drone Company
Besta Prem Sai and Rajeshree Rajesh Deotalu serve as the co-founders of Vecros.
How much is the Valuation of Vecros?
Vecros successfully secured an investment from Shark Tank India, valuing the company at INR 20 crores.
Did Vecros get a Deal on Shark Tank India?
Yes, Vecros managed to secure a deal on Shark Tank India with Aman Gupta.
Vecros’s recent appearance on Shark Tank India Season 3 highlighted their innovative and exciting drone technology. And, now, after this deal from Shark Tank India, Vecros has become a mainstream brand with a lot of eyeballs noticing them.