Autonomous Cars
Hydrogen Powered
Season 3 Episode 9
| Brand | AI Cars |
| Company Name | AI Cars |
| Founders | Harshal Mahadev Nakshane |
| Original Ask | 2 crores for 4% equity at the valuation of Rs. 50 crores |
| Deal | No Deal |
About the Product
AI Cars has successfully developed and unveiled its prototype model over the past 18 months, showcasing a cutting-edge fusion of Hydrogen cell and state-of-the-art AI-based technology. This innovative vehicle boasts an impressive range of approximately 1000 kilometres on a single charge, setting a new standard in long-distance travel.
What sets AI Cars apart is its remarkable refuelling efficiency, requiring only 4-5 minutes to replenish the Hydrogen cell, making it exceptionally convenient for users on the go. The incorporation of autonomous driving further enhances the driving experience, thanks to a proprietary algorithm specifically tailored for Indian roads, ensuring optimal performance and safety.
In line with its commitment to environmental sustainability, AI Cars employs an alternating fuel approach, contributing to a greener future. The utilization of a robust hydrogen fuel battery backup system adds to the vehicle’s reliability, ensuring consistent and efficient power delivery.
Founders & their story
- Harshal Mahadev Nakshane
AI Cars, India’s pioneering hydrogen-based vehicle manufacturing startup, stands out in the realm of sustainable transportation. Founded by an innovator from Yavatmal, Maharashtra, the company embarked on its journey in 2015, commencing with dedicated research in the garage behind the founder’s residence. Within a swift 18-month development period, AI Cars has emerged as a trailblazer, addressing critical challenges associated with traditional electric vehicles (EVs). While EVs have gained traction, their battery production generates around 9 metric tons of CO2, and the need for battery replacement after 3-4 lakh kms poses economic and environmental concerns.
In contrast, AI Cars harnesses the power of hydrogen fuel cells, a game-changer in sustainable mobility. Boasting a remarkable 3-4 minute refuelling time, the AI Cars offer an impressive range of 1000km+, surpassing the typical 300-500 km range of electric vehicles. Moreover, the hydrogen fuel cell in AI Cars eliminates the need for replacement even after covering 15 lakhs+ kilometres, addressing a significant pain point in EVs. The startup’s foray into autonomous driving further underscores its commitment to cutting-edge technology. A specially designed AI algorithm navigates Indian roads with finesse, having covered 300 km autonomously. This achievement leverages 3D cameras and ultrasonic sensors, ensuring a reliable and efficient autonomous driving experience.
Additionally, AI Cars provides a swift refuelling solution, with hydrogen fuelling stations offering a remarkably quick 1-2 hours charging time at DC super stations. This stands in contrast to the 5-7 hours required for home charging networks for traditional EVs. In summary, AI Cars not only represents a technological leap with its hydrogen-based approach but also addresses practical concerns such as refuelling time, range, and autonomous driving adaptability, positioning itself as a key player in India’s sustainable and intelligent transportation future.
About the company
AiCars stands as India’s pioneering hydrogen-based Artificial Intelligence vehicle manufacturing company, driven by a mission to craft the most compelling vehicles of the 21st century. The founder, Harshal Nakshane, introduced the meticulously designed prototype to the Sharks. Nakshane, with a bachelor’s degree in mechanical engineering from Nagpur University and a master’s degree in computer-Aided Design & Manufacture from the Symbiosis Institute of Technology, spearheads AiCars in its quest to introduce hydrogen-fuelled vehicles equipped with automatic driver mode specifically tailored for Indian roads.
Nakshane’s journey reflects a fusion of engineering expertise and computational prowess. Despite the promising prototype presented, AiCars found themselves in the early stages, facing the technological prowess of established players like Tesla and Google, who were significantly ahead in the technological landscape. The competitive environment showcased the challenges and opportunities as AiCars strives to carve its niche in the dynamic and evolving automotive industry.
Revenue
The prototype showcased by AI Cars represents the inaugural step, funded with an initial investment of 60 lakhs. These resources are earmarked for the development of a production-ready vehicle and the initiation of the homologation process.
Founders’ Ask
2 crores for 4% equity at the valuation of Rs. 50 crores.
No Deal
Reasons for no deal
Anupam: AI Cars faces formidable competition in the global market, grappling with the challenges of keeping pace with cutting-edge technology, navigating complex assembly line processes, and establishing a distinctive brand in a fiercely competitive landscape.
Aman: The founder has the option to contribute their expertise by joining a company as a professional, leveraging their wealth of knowledge and experience to benefit the organization.
Vineeta: The prospect of AI Cars introducing autonomous vehicles may seem ambitious for India. It might be prudent to initially concentrate efforts on the development and promotion of fuel-based cars before delving into the realm of autonomous vehicles.
Namita: The major players in the industry have already established a considerable lead, making it challenging for AI Cars to catch up.
Deepinder: A delicate balance exists between ego and rationality. While he possesses knowledge, there is a possibility that he may not be fully attuned to the practical realities of the market.