By Rahul Kelaskar, 2020-08-10 17:50:10
With the exponential increase in the potential market of electric vehicles we bring you the story of Zeuva Automotive. A booming startup incubated with SP-TBI looking forward to making a major transition in the automobile industry in the country and playing their role to enhance the society.
With scope to expand to great levels Nishant Ranjan, the founder answered a few questions and let us know the beginnings and the nitty-gritties of this idea for which the sky's the limit.
When quizzed on how the idea of Zeuva Automotive was conceived, the founder of this expanding start up said ''The idea was to build electric motorcycles for delivery related to new age delivery businesses including eCommerce, Logistics, etc. We realized that there was substantial challenge in building a lithium ion battery pack for an electric vehicle, and pivoted our business to building that.''
With the essential mission of solving challenges in the adoption of this still foreign technology, Zeuva Automotive aims to regularise the use of electric vehicles in the country. The company’s current pivotal focus is to solve problems like cell degradation, range issues, and optimal charging and keep overcoming obstacles in the adoption of this technology.
Every start up has the ambition of impacting the society in a positive manner. So when asked about it, Mr. Ranjan replies, "Air pollution is a huge challenge today in India. Indian metros are probably the most polluted across the world. Adoption of electric vehicles will substantially change this aspect. By providing the possibility of harnessing solar power through renewable routes, electric vehicles allow us to become more energy independent. Also, Automotive sector is the second largest organised sector in India after IT and provides the most employment. By making this transition to happen, we would be offering more opportunities back home".
"Currently we have about 10 full time, part time founders, employees consultants.", he says, adding as to how the business had just raised capital and only started deploying the same, clearly indicating that the company is still pretty much in it's development stage barrelling towards their aims.
Every startup needs encouragement from an external source both morally and financially. Here SP-TBI played a crucial role in helping Zeuva automotive grow wings to their ambition.
When asked about how SP-TBI helped them overcome their difficulties the founder gratefully responded, "Apart from the office space, team building opportunities and the very important ‘first cheques’, the company found a couple of critical pillars in SP-TBI. Finding one of our senior management people after joining SP-TBI was really substantial. We were also able to raise some funding through SP-TBI's NIDHI SSS funding which is extremely critical for growth of a business."
When questioned further on their experience with SP-TBI so far, he gives an honest assessment by saying, "Overall a great experience, however, we would like to have more interns in our business with SP-TBI’s affiliation."
Talking about how entrepreneurship has always been his life’s calling, Nishant enlightens us as to how he deals with the pressure and finds things like reading, exercising, talking to family and friends the best way to let up the steam.
“In terms of impact, automotive technology doesn't come from India. We want to build technology here in India. If that technology can be sold to other countries then this will be substantial change. Also, in terms of financials, we would like to see 100x growth between where we are right now.”, says Nishant when asked about the future he wants for his startup.
With an objective of successfully conquering the fighting phase within 5 years down the line, the founder aims to enter a blooming growth phase not just for the business but even on a personal level. To create a global print with clients across the globe, the company aspires to have raised a substantial amount of funds and have their product at a very mature stage with a sizable team and a great revenue in line.
“We would be at a point of inflexion where we would be going for the real BIG time and NOT playing a small game.”, states Mr. Rajan with conviction.
Lastly when inquired about his views as an entrepreneur in lockdown and his advice to his peer group during these tough times, Nishant solemnly says, “If you have a business in which delivery is possible online, for e.g. education, financial services, many tech products then you should start doing now. If you have logistics business, move to more essential items and sustain / grow. If you are stuck, and can't move much then do pending internal projects. Also, entrepreneurs can work on their health. They can spend time with family and friends and rejuvenate themselves for the tough path ahead.”