Mumbai, Feb 3 (IANS): The Delhi-based robotics company, 'Vecros' has sealed a deal of Rs 20 lakhs with Aman Gupta, co-founder and CMO, BOAT, in the new episode of the entrepreneurial reality show 'Shark Tank India' season three.
'Vecros' has developed a technologically advanced solution to capturing complex data in industries like construction, oil and gas, and utilities, which traditionally required human operators to venture into dirty, dangerous, and hazardous areas.
The cost in terms of money, time, and lives prompted the development of Athera, India’s first autonomous spatial AI drone designed to construct 2D-3D maps in challenging conditions. Now, with a vision to transform the world through innovative, efficient, and safe autonomous flight technology, Besta Prem Sai (CEO) and Rajeshree Deotalu (CTO) pitched their cutting-edge innovation on the business reality show seeking Rs one crore for a 2.5 per cent equity stake in their startup.
They bagged a deal with Aman for Rs 20 lakh for one per cent equity, plus Rs 80 lakh debt for three years at 10 per cent interest rate (repayment can start after a year).
Talking about his experience on 'Shark Tank India', Besta said: "Appearing on Shark Tank with our brand Vecros was a whirlwind, a roller coaster of emotions and opportunities. Coming from a small town, representing Vecros on a big stage like Shark Tank is like a dream come true. It helped me refine my pitch and build my storytelling ability within me."
"It has also helped me personally to face challenges in such high-stakes environments. I am well-prepared for such challenges next time. The experience underscored the importance of composure in high-stakes situations, molding me into a resilient and articulate entrepreneur," added Besta.
What began as a small student group working on drones from IIT Delhi, Vecros is now India’s only company with an autonomous spatial AI drone. Their groundbreaking drone, Athera, is equipped with eight cameras, which enables it to dodge obstacles autonomously with advanced features like GPS-denied navigation and 360-degree obstacle avoidance using computer vision.
'Shark Tank India 3' airs on Sony LIV.