- Founder: Arth Chowdhary, Oshi Kumari & Deyvant Bhardwaj
- Business: FPV Drones
- Ask: ₹ 75 Lakhs for 4% Equity
- Net-Worth/Valuation: ₹18.75 Crore
- Result: ₹75 lakhs for 15% Equity
- Sharks: Namita Thapar Amit Jain, Peyush Bansal and Aman Gupta
- Episode: Season 2 Episode 13
Inside FPV Shark Tank India Pitch:
Inside FPV, a drone manufacturing company founded by three college students, achieved a significant milestone with their appearance on Shark Tank India Season 2. Their journey on the show was not just about securing funding but also about the valuable insights and partnerships they gained. Since then, the company has continued to grow and expand, entering new markets and receiving accolades for their innovation.
The company specializes in creating plug-and-fly drones suitable for a wide range of applications, including aerial photography, surveillance, and search and rescue missions. Their drones come at competitive price points, ranging from ₹2,800 to ₹25,000. They also offer a one-drone crash guarantee and free consultation.
What makes Inside FPV stand out is that they are India’s first consumer-focused drone company. While their drone parts are sourced from international markets, including Taiwan, Hong Kong, and China, they are assembled in India. Their revenue reflects their rapid growth, with ₹13 lakh in the last month and a closing figure of ₹85 lakh for FY21-22. FY22-23 has been exceptionally promising, with ₹44 lakh earned so far, and they project to close the year at ₹4 crores, thanks to orders from various institutions. Notably, 40% of their revenue comes from drone sales, while the remainder comes from spare parts. All their sales are made directly to consumers.
Inside FPV’s Shark Tank India Negotiations:
Inside FPV’s journey on Shark Tank India involved some intriguing negotiations with the sharks. Anupam expressed concerns about the future competitiveness and potential commoditization of the business and chose to exit. Peyush, on the other hand, made a joint offer with Aman for ₹50 lakh with half as interest-free debt and a 20% equity stake.
Amit and Namita presented their offer of ₹75 lakh for a 15% equity share. The company countered with a proposal of ₹75 lakh for a 5% stake, suggesting that all sharks come together. Peyush matched Namita and Amit’s offer, and Namita later revised her offer to 12% for ₹75 lakh. The company accepted this at 12% for all interested sharks. Aman, in turn, revised his offer to 15% for all sharks coming together, which the company ultimately accepted, concluding the negotiations successfully.
How is Inside FPV doing after Shark Tank India?
Research into the company reveals that their Shark Tank India Deal with Sharks closed and they are thriving after the show. Founder Arth has shared insights into the company’s progress through a podcast named Banter with Cheytan. They revealed the exciting news that they collaborated with a Dutch company, Drone Bird, to create a defense drone for the Bollywood movie “URI,” marking a significant achievement in the defense sector.
The response after their Shark Tank India appearance was overwhelming. Inside FPV received around 200 calls the day after the show aired and continues to receive 30-40 calls daily. Their inventory quickly ran out, reflecting the surging demand. The sharks played a pivotal role in helping the company develop a new website and provided assistance in various areas of the business.
In the summer of 2023, Inside FPV made a significant announcement on their LinkedIn page:
“Exciting news! We’re thrilled to announce that Inside FPV has officially entered the defense industry. Our drones have been procured by the Indian Army, and we couldn’t be prouder to take this step forward.”
InsideFPV instagram
While the financial details of this new development are not yet available to the public, the company’s journey post-Shark Tank India demonstrates their remarkable growth and potential. They have leveraged the opportunities that came with their appearance on the show and continue to make waves in the drone industry.
Source: Inside FPV Instagram
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