How is VECROS doing after Shark Tank India?

Founders: Besta Prem Sai & Rajeshree Rajesh Deotalu
Business: Drones
Ask: ₹1 Crore for 2.5% equity
Valuation/ Networth: ₹40 Crores
Funding: ₹20 Lakhs for 1% and ₹80 Lakh debt @10% interest on a 3-year term.
Sharks: Aman Gupta
Episode: Season 3 Episode 10

VECROS Shark Tank India Pitch:

VECROS is an Indian startup that appeared on Shark Tank India Season 3 Episode 10. They sought an investment of ₹1 Crore for 2.5% of the company, valuing their business at ₹40 Crores. Their flagship hero product is Athera, which is India’s first self-flying spatial artificial intelligent drone. Further, Athera can be used for construction, railways, inspection monitoring, and timely data collection for disaster relief. The founders added that Athera provides accurate data in a timely manner and removes any possibility of physical danger.

Athera is equipped with 8 cameras and an operations computer with the power of 21 trillion operations per second. In addition to that, it also includes 360 cameras and is capable of dodging obstacles. They also have another product in the pipeline for confined spaces called Jasper. Interestingly, VECROS founders shared that their drones are not GPS-based but work on computer vision-based technology.

VECROS has already raised ₹1.3 Crores from angel investors. They have two revenue models. The first one being the enterprise model where drones can be purchased directly from VECROS. Secondly, they also supply drones on a monthly subscription for any purposes. They closed September 2023 at ₹9 Lakhs in revenue. The founders added that NOKIA is their biggest client. The founders added that they are still a pre-revenue company. Further, The price for Athera without payload is ₹15 Lakhs, and the company makes a gross profit of ₹9 lakhs per unit.

VECROS founders also had an acquisition offer where they would give away 70% of the company for ₹15 Crores, which entrepreneurs refused. They are also raising a bigger fund round along with this pitch where they would raise ₹2 Crores at ₹22 Crore valuation.

VECROS Shark Tank India Negotiations & Funding:

Vineeta was the first Shark to go out due to not having an understanding of the targeted market for this product. Namita goes out due to the competitive nature of the market and lack of defensibility of this product. Anupam goes out due to his opinion that the founders should focus on working with a commercial tech company. Deepinder goes out due to a lack of clarity on founders’ behalf whether they were a services company or hardware company.

Aman Gupta gives the first and only offer to the VECROS of ₹10 Lakhs for 1% of the company and the rest as debt at 10% interest with a 3-year term. The founders countered that with ₹20 Crore valuation as they are currently raising the bigger round at the same valuation. Aman accepted that counter, and they shake hands on that deal.

Who are the founders of VECROS?

Besta Prem Sai & Rajeshree Rajesh Deotalu founded VECROS. Besta is from Andhra Pradesh; he is an IIT Delhi graduate from the engineering & physics background. Rajeshree is from Maharashtra; she graduated in engineering from NIT Nagpur.