Startup Story: BuyMyEV

 

My name is Vivek Sharanappa and I'm the Co-founder & CEO of BUYMYEV TECHNOLOGY PVT LTD and I'm going to talk briefly about my startup/entrepreneur journey in a short write up.

Each instance I devoted to waiting for the car to arrive from the metro station meant forfeiting valuable evening playtime with my daughter, an eagerly anticipated moment. Alternatively, it led to unpleasant discussions about the excess fares that needed to be paid. Despite my attempt at cycling to work, as I am an enthusiastic cyclist, the endeavor proved ineffective due to the polluted commute. Having been raised in Bangalore, a hub for innovation, and working as a technology professional for renowned global brands such as Novell and Hewlett Packard, it was disheartening to find no resolution to this issue. The onset of COVID-19 made shared mobility appear more perilous. This marked the commencement of my pursuit of a short-distance commute solution that is both eco-friendly and technologically advanced.

We were the pioneering entity that introduced foldable electric kick scooters; however, we expeditiously discerned that the existing infrastructure did not adequately support this mobility solution. Consequently, we promptly elevated our efforts to develop an electric two-wheeler. Serving as the Minimum Viable Product (MVP) of our solution, we meticulously assembled fifty vehicles, with all components sourced and manufactured in India. These electric two-wheelers were disseminated through subscription, facilitated by word of mouth. Although we initially received positive responses, the advent of the COVID -19 pandemic posed significant challenges. Utilizing this period of adversity, we engaged in a comprehensive review of customer feedback. By this juncture, we had garnered confidence in our capacity to provide an economically viable solution through the creation of an entirely new electric two-wheeler, meticulously designed to address all known pain points articulated by our customers.

Financial constraints were prevalent due to the capital-intensive nature of this sector, and we operated on a bootstrap model until a certain point. Subsequently, we successfully concluded our seed funding round, securing 1.5 million USD from two High Net Worth Individuals (HNIs) who not only endorsed our vision but also brought substantial value to the company. Our initial team of three individuals has since expanded to include various pertinent departments, resulting in a current headcount of approximately 30 professionals. Throughout the rigorous development of INDIBIKE and INDIBIKE+, the team has dedicated substantial efforts over an exhaustive period of approximately 18 months to transform our conceptualization into a tangible reality.

The INDIBIKE boasts a maximum speed of 65 KMPH and an impressive range of 130 km range, facilitated by its 3kWh dual swappable batteries. The distinctive F.A.T tires have been specifically engineered to navigate challenging road conditions without compromising the overall user experience. Additionally, we offer the INDIBIKE+ variant, which comes equipped with enhanced features such as RFID keys. Our experience with the INDIBIKE thus far has been remarkably seamless and unparalleled.

As an entrepreneur, the necessity of perseverance is undeniable. Simultaneously, as our product undergoes the scrutiny of roadworthiness, we are actively forging strategic alliances with prominent entities in the automotive industry. The anticipation of witnessing our bikes resolve practical challenges for customers is an excitement we eagerly look forward to.

If you are a entrepreneur or want to hear more about my story(firefighting) get connected
with me?


To know more about INDIBIKE

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