On the Tank
Bilal Shakil, Sayan Tapadar, Shamik Guha, and Anirban Gupta founded Altor in September 2018.
Why started Altor?
India has more than 25 crore bikers. Every hour, bike accidents claim the lives of six people.
3 years ago, one day while it was 7 in the morning, I received a call from my friend’s mother saying, “Your friend died in a road accident.” Later, we learned that the body remained there for an hour after the accident. The sooner locals spotted him and brought him to the hospital, the sooner the doctors responded, stating they could have saved him if they had intervened a few minutes earlier.
Still, there is no solution on the market that detects the accidents and informs their family members. We are now proud to introduce “Altor” to you all.
About the Helmet
For this, Altor the first range of smart headgear in India, aims to prevent and detect accidents.
If a rider faces an accident while wearing our helmet, then our accident detection technology immediately detects it and sends its last known location to all the “Emergency Contacts.”
Additional features
- Pick and cut the calls.
- Google assistant
- SOS alert
Shark Tank Recap
- Altor is the first range of smart headgear in India and aims to prevent and detect accidents. Including features like google assistant and Accept/Reject a call.
- Ask: ₹50 lakhs in exchange for 5% equity making the valuation stand at ₹10 crores.
- Feedback: Bring the cost of manufacturing down, which is ₹4,000 as of now.
- At last, Together, Aman and Namita would come for ₹50 lakhs for 7% equity (valuation:₹7.14 crores)
Shark Tank Live
Ask
₹50 lakhs in exchange for 5% equity making the valuation stand at ₹10 crores.
Demo Review
Bilal, by wearing the helmet, gave the sharks a demo of how the message would display if any accident happened.
Business Model of Altor
As of now, we are selling helmets, but in the future, we would like to enter the licensing arrangement business.
Also, working on a subscription model in which customers have to pay a nominal charge of ₹99 for six months (after using it for one year).
Unit Economics
Selling it at a price of ₹5000, out of which ₹4000 is our making cost (high due to pandemic and global supply chain disruption). But it aims to set the making cost at ₹3,000.
Sales and Revenue
Recently, they initiated sales and successfully fulfilled 100 orders. Also, they have 500+ paid pre-orders.
Offers for Altor
- Namita and Aman: Together, invest ₹50 lakhs for 10% equity (valuation:₹5 crores).
- Ashneer, Anupam, and Peyush: Together investing ₹50 lakhs for 10% equity (valuation:₹5 crores)
Counter offer
Aman and Namita Together to come for ₹50 lakhs for 7% equity (valuation:₹7.14 crores)
Deal
Together, Aman and Namita would come for ₹50 lakhs for 7% equity (valuation:₹7.14 crores).
Altor Beyond Tank tank updates
Beyond Tank constantly provide updates and follow-ups about the entrepreneurs from the day they appeared on Shark Tank India.