WEB DESK: In the latest episode of Shark Tank Pakistan, Motto Vest, Pakistan’s first biker safety airbag vest, made waves by securing an investment of Rs30 million for 40 per cent equity.
Motto Vest clinced deal
Founder Zeeshan Shahid and Chief Technology Officer (CTO) Ahsan Tariq presented their innovative product, which inflates instantly during accidents to shield vital organs and reduce injuries.
Originally, the entrepreneurs sought Rs30 million for 15 per cent equity, valuing the company at Rs200 million. The panelists — Rabeel Warraich, Aleena Nadeem, Faisal Aftab, Junaid Iqbal– hailed the pitchers but backed out owing to the concerns regarding company’s revenue. Some even suggested that the business model needed further development.
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However, Romanna Dada seemed to be interested in the pitch and offered Rs30 million with 40 per cent equity.
After negotiations, they accepted Romanna Dada’s offer. The startup, generating revenue for the past three months, sells its airbag vests at Rs12,000 per unit with a 70 per cent gross margin.
Motto Vest pitch overview on Shar Tank
- Pitchers: Zeeshan and Ahsan.
- Ask: Rs30 million for 15 per cent equity.
- Business: Biker safety airbag vest.
- Result: Secured Rs30 million for 40 per cent equity.
The airbag vest addresses a major safety gap for bikers in Pakistan, but as per Sharks, high pricing could hinder adoption in a market where many riders avoid even basic gear like helmets.
Zeeshan and Ahsan are relying on their investor’s guidance to navigate these challenges, aiming to make biking safer across the country and provide essential protection for riders.
Shark Tank social media reaction on Motto Vest deal
The episode met with mixed reactions with some users hailing Romana for the deal.
