Business Remedies | Rajshree Upadhyaya | July 03,2025 |A desire to innovate steered Nikhil Gunda towards entrepreneurship and ultimately led to the launch of Gear Head Motors-a company that has earned national recognition for creating affordable electric mobility solutions. Nikhil’s entrepreneurial journey began as an engineering student in Hyderabad, where he opened a small coffee shop on campus. When long queues and limited space became challenges, he turned to technology. He developed Amigo, a QR-based app that allowed students to pre-order coffee. Although campus authorities eventually shut down the café, Nikhil was determined not to leave empty-handed. He sold the café for Rs. 75,000 and quickly launched his next venture.
Leveraging Amigo, he expanded to over 300 restaurants in the city, streamlining their ordering systems. The app’s rapid success attracted a local POS company, which acquired the venture for Rs. 2 crore. This gave Nikhil the capital to pursue his next bold idea-Gear Head Motors, founded in 2018 in partnership with his college senior, Meher Sai Krishna. Together, they envisioned making electric mobility accessible to everyday Indians. At the time, premium-brand electric scooters cost over Rs. 1 lakh, leaving middle- and lower-income consumers excluded. Recognizing this gap, Nikhil and Meher targeted the sub-Rs. 50,000 segment. Initially, they focused on retrofitting conventional vehicles, experimenting with electric conversions of Omni vans and Nano cars. However, the high costs made this model unsustainable for their mass-market goals.
Gear Head Motors Operates Through Two Entities
The breakthrough came with electric bicycles and tricycles. Their first product line-the Life Series-introduced four e-bike models priced between Rs. 24,000 and Rs. 38,000, offering a practical range of 60 km per charge. The bikes featured detachable lithium-ion batteries housed in aluminum shells for efficient cooling, and notably, over 80% of their components were manufactured in India. At a time when most EV startups relied heavily on Chinese imports, Gear Head Motors proudly embraced the “Make in India” approach, gaining significant advantages in cost and supply chain control.
Their product innovation extended beyond bicycles. Inspired by a request from a differently-abled customer, they designed tricycles for the disabled, broadening their impact. By 2021, Gear Head Motors had delivered over 8,000 tricycles and 5,000 e-bikes across India. Their efforts also earned them a Rs. 20 crore government contract for specially-abled tricycles, further cementing their reputation in the sector.
The startup gained national attention when Nikhil and Meher appeared on Shark Tank India Season 2, seeking Rs. 75 lakh for 2% equity at a Rs. 37.5 crore valuation. While the sharks were impressed by their affordable pricing and strong in-house manufacturing, the pitch revealed structural complexities. Gear Head Motors operated through two entities-Gear Head Motors Pvt. Ltd., the for-profit arm, and GHM Labs, the fundraising vehicle. This setup raised concerns among the sharks about financial transparency and clarity.
A Mission to Make Sustainable Mobility Accessible
Namita Thapar and Vineeta Singh opted out, citing trust and risk concerns. Anupam Mittal flagged inconsistencies in market size data and communication gaps, leading him to withdraw. However, Aman Gupta and Peyush Bansal saw potential and offered Rs. 1 crore for 7.5% equity, conditional on merging the two entities. The deal was finalized at Rs. 1 crore for 6.67% equity, valuing the company at Rs. 15 crore. Despite the handshake, the deal never materialized-though public reasons were not disclosed.
This setback didn’t deter their momentum. Post Shark Tank, Gear Head Motors continued expanding. They introduced advanced upgrades, launched the Dash app for fitness and ride analytics, and extended distribution through Amazon, Flipkart, BigBasket, and Reliance Fresh. Their upcoming A-Series e-bike-billed as India’s most affordable bike-stands as a testament to their ongoing mission of making sustainable mobility accessible to all.
Financially, their revenue grew from Rs. 4 crore in FY 2021-22 to a projected Rs. 20 crore in the current fiscal year, supported by over 200 distribution points across cities of all sizes. With a strong focus on local manufacturing and affordable pricing, Nikhil and Meher are steadily transforming Gear Head Motors into a symbol of India’s green mobility future-proving that strategic patience and purpose-driven innovation can drive real, scalable change.
Written & Edited By:
Rajshree Upadhyaya
