Hornback e-bicycle has revolutionised the manner bicycles are imagined by introducing full-sized diamond frame folding bicycles that can be folded to half its size in seconds.
Although bicycles have been a common form of transportation for generations, they have advanced significantly since their early days. To meet the demands and tastes of riders, modern bicycles are available in a range of styles, designs, and materials.
The development of folding bicycles is one of the most recent advances in the cycling sector, and Hornback e-bicycle from hornback.bike are at the fore of this trend.
The diamond frame makes it a very portable and practical choice for folks who wish to carry their bikes with them when they vacation or commute.
The bikes Hornback uses are quite portable, which is one of their key benefits. Those who live in urban areas or who have little storage space will benefit greatly from being able to fold the bike in half and bring it with them wherever they go. Also, it makes it simpler to move the bike in a car or on a bus or train, which can be difficult with conventional bicycles.
In this post, we’ll examine the pitch that Hornback e-bicycle made in Shark Tank India Season 2.
About the Brand
Horn Back Business Vision is to transform the car into a new design with innovation in order to offer solutions for the usefulness of the client.
Home Automation System (Patent), an award-winning IIT Bombay alumni by Nishith Parikh and Rajkumar Kewat, Baja Racing Vehicles for Baja Racing, Kamikaze Drone for DRDO. In addition to this, he has created solar lamps and many other things.
Hornback e-bicycle Company is a manufacturer of consumer goods that specialises in folding mechanism solutions. By comprehending consumer demands and innovating to offer better solutions, they aim to add value. They run a company out of Hyderabad.
The first Diamond Frame Folding Electric Bicycle in the world was created and released by Horn Back. One of the few businesses in India with entirely internal design, R&D, fabrication, and paint processes, they have four patents.
One such motor vehicle manufacturing company is Hornback E-Mobility, which produces a range of electric bicycles, folding bicycles, folding bicycles, adaptive commuting bicycles, ecologically friendly bicycles, bicycles, and diamond frames.
Right now Horn Back Products has two main products for sale on their website;
- Hornback X1
- Hornback M1
Sales and Valuation
In 2022 the birth of Horback E-bicycle took place. The cost of a cycle is ₹ 44,999.
The premium bike market size in India shows the sales count of 60 thousand bikes per month. Which means 7 lakh bikes are sold every year. This is a market of ₹ 140 crores in the whole year.
Horn Back E-bicylcles has raised an amount at ₹3.33 Cr @ ₹15.33 Cr.
Deal or no-deal?
Shark Amit’s Offer: ₹30 Lakh for 2% Equity & ₹20 Lakh Debt @12% Interest, Valuation ₹15 Crore
Hornback e-bicycle Pitcher’s Counter Offer: ₹50 lakh for 1.5% equity, valuation – ₹33.33 crore
Shark Amit’s Revised Offer: ₹50 lakh for 3% equity, valuation – ₹16.67 crore
Shark Amit’s Revised Offer: ₹50 lakh for 2.5% equity, valuation – ₹20 crore
Business pitcher Sharks finalizes a deal with Amit for ₹50 lakh for 2.5% equity.
In order to make their products more practical, Hornback E-bicycle Company has provided their goods at an inexpensive price with customer-savvy technology and design. Please share your ideas for how to advance our company by consumer popularity and shark remarks among the various automotive enterprises.
Where to Find
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