Altor raised INR 50 lakhs for 7% equity by sharks Mrs Namita Thapar, executive director of Emcure Pharmaceuticals, and Mr Aman Gupta, co-founder and CMO of boAt.
Altor is a Kolkata based startup that manufactures smart helmets to reduce the chance of death. There are about twenty-five crores bike riders in India, and every day an average of six bike riders die due to road accidents because of the poor quality of the helmet.
Altor initially asked INR 50 lakhs for 5% equity then judge Mr Ashneer Grover, Mr Peyush Bansal and Mr Anupam Mittal, combinedly gave an offer of 50 lakhs for 10 percent equity. Then Mr Aman Gupta and Mrs Namita Thapar countered this offer and granted the same request. Altor thought about the offer and asked for 50 lakhs for 7 percent equity to Mrs Namita Thapar and Mr Aman Gupta, and they both agreed. Finally, after a long argument and negotiations, Altor got a deal of INR 50 lakhs for 7 percent equity.
About Altor
This is a Kolkata based startup and the entrepreneurs Mr Shamik Guha, Sayan Tapadar, Aninda Ghosh, Md. Billal Shakil and Anirban Dasgupta had founded this in 2018. The company manufactures smart helmets for bikes, having followed these features.
The first feature is that the helmet has an impact sensor; whenever a rider faces an accident, the impact will be on the helmet; the SOS system detects the impact and sends information to family members and the nearest ambulance service and hospital.
The second feature is the Bluetooth microphone and speaker. The rider can easily talk on the phone during riding without holding the phone. It also has a touch-swipe sensor.
Problem Solved By Altor
The company Altor has solved the central problem of an accident. The riders often die due to the lack of treatment on time, but the Altor helmet resolves that problem. The riders don’t have to wear other Bluetooth devices because a built-in microphone and speaker are in the helmet.
