Biography of Vidhey Addepally: Founder and CEO of SEPAL -Entrepreneur
Biography of Vidhey Addepally:
Vidhey Addepally, an IIT-Bombay graduate, co-founded SEPAL
with a vision to enhance the motorcycle riding experience in India. India is a
nation where two-wheelers are a crucial part of daily transportation, but they
often leave riders vulnerable to the elements. The idea behind SEPAL was to
address this problem by offering protection from the sun, rain, dust, and cold
weather. This vision soon turned into a reality with a product that promised to
offer riders the same comforts as those in cars, including safety, comfort, and
convenience.
The Concept of SEPAL
SEPAL is a unique innovation—a collapsible roof that can be
easily attached to any motorcycle. Designed by a group of IIT engineers, the
product offers complete protection to riders, shielding them from harsh weather
conditions. Moreover, SEPAL integrates modern electronics and IoT features,
such as mobile app connectivity, navigation, music, and call alerts,
transforming an ordinary bike into a smart one. The simplicity of installation
and on-demand functionality made SEPAL a revolutionary accessory in the
motorcycle market.
The Journey Begins at IIT Bombay
Vidhey Addepally's journey toward founding SEPAL started
with his education at IIT Bombay, where he pursued a BTech in Civil Engineering
from 2012 to 2017. During his time at IIT, Vidhey was involved in several
activities, including being the competition manager for AAKAAR, the annual
civil engineering department festival. His exposure to problem-solving and
innovative thinking during this period laid the foundation for his
entrepreneurial aspirations.
Research and Development at SEPAL
After graduation, Vidhey, along with his co-founder Kashyap
Addepally, focused on the research and development (R&D) of SEPAL. The duo
spent years perfecting the concept, testing the product, and refining its
features. The device was designed not only to protect riders from various
weather conditions but also to provide a smart and connected experience,
something previously unavailable in motorcycles.
Exploring Global Opportunities
The SEPAL product quickly gained traction, and within
months, it was used in over 25 states across India. The founders were not only
focused on the Indian market but also explored opportunities in other parts of
the world. SEPAL became a global product, gaining recognition for its
innovative design and functionality, which set it apart from anything else in
the market.
Biography of Vidhey Addepally: Founder and CEO of SEPAL -Entrepreneur/age/net worth/investor/SEPAL story/shark tank/Vidhey Addepally/SEPAL
From Research Fellowships to Real-World Impact
Before founding SEPAL, Vidhey had undertaken various
research roles. As a research assistant at IIT Bombay, he worked on evaluating
building structures under seismic conditions. He also completed a research
fellowship at McMaster University in Canada, where he contributed to improving
the performance of reinforced concrete structures. These experiences deepened
his understanding of engineering principles and helped him apply them
effectively in SEPAL’s design.
The Big Break with Shark Tank India
In September 2022, SEPAL appeared on the Indian reality TV
show Shark Tank India, where they pitched their innovative product to a panel
of investors. The entrepreneurs sought ₹50 lakh for 1% equity in their company,
but the deal negotiations turned out differently. While several sharks were
skeptical about the pricing and the product’s potential, Peyush Bansal, an
investor, offered ₹50 lakh for 2% equity. Despite concerns, the founders agreed
to the offer, sealing the deal with Peyush.
The Negotiation Challenges
The negotiation process was challenging for the SEPAL
founders. While investors like Amit, Namita, and Anupam had reservations about
the product's style and pricing, Peyush Bansal believed that the company was
too early in its development but still worthy of investment. Despite initial
negotiations and discussions, Peyush stood firm on his offer of ₹50 lakh for a
2% stake, which the founders ultimately accepted.
Post-Shark Tank Growth
After their appearance on Shark Tank India, SEPAL continued
to grow and refine its product. They followed through on their commitment to
make the product more affordable and accessible by reducing its price. This
strategic decision played a crucial role in boosting sales and attracting more
customers. SEPAL sold over 1,000 units in just a few months, with a significant
portion of those sales coming from the months after their TV appearance.
The Sales Surge and Market Response
SEPAL's sales figures surged after their appearance on Shark
Tank. In the three months leading up to their pitch, the company reported
monthly sales of ₹10 lakh, ₹12 lakh, and ₹13 lakh. The product's affordability
and unique features contributed to this sales growth. SEPAL’s gross margin
stood at an impressive 37%, with net margins of around 17%. This financial
success demonstrated the strong market response to their innovation.
Facing Criticism and Pushing Forward
Despite the success, SEPAL faced criticism from some
investors and industry experts, who questioned the product’s style and the
possibility of imitation by competitors. Nevertheless, Vidhey and Kashyap
remained confident in their vision. They focused on building their brand,
improving the product, and expanding their customer base. Their commitment to
the product and its potential helped them push through the doubts and continue
moving forward.
A Smart Product with IoT Features
One of SEPAL's key differentiators is its IoT capabilities.
The product does not just protect riders from the weather but also offers
advanced features like navigation, call alerts, and music integration through a
mobile app. This combination of protection and smart functionality set SEPAL
apart from other motorcycle accessories on the market and provided added value
to users.
The Road Ahead: IoT Integration
The founders of SEPAL have always had a long-term vision for
the company. They aim to transition into a full-fledged IoT platform in the
coming years. They believe that IoT technology will soon become a standard in
the automotive and accessory markets, and SEPAL intends to be at the forefront
of this revolution. This forward-thinking approach has the potential to expand
their market reach and diversify their offerings.
Conclusion: Innovation at Its Best
In conclusion, SEPAL stands as a prime example of how
innovation, engineering, and a passion for problem-solving can lead to
revolutionary products. Vidhey and Kashyap’s journey from IIT Bombay to Shark
Tank India and beyond showcases the power of creative thinking and
entrepreneurial spirit. SEPAL has already made a significant impact on the
motorcycle accessory market, and with its plans for IoT integration, the future
looks bright for this innovative venture.
A timeline for Vidhey Addepally’s journey with SEPAL:
2012-2017: Vidhey completes BTech in Civil Engineering at
IIT Bombay.
Post-2017: Vidhey and Kashyap start researching and
developing SEPAL.
2021: SEPAL product gains traction and is used across 25
states in India.
2022: SEPAL appears on Shark Tank India, securing ₹50 lakh
investment for 2% equity.
2022 (Post-Shark Tank): SEPAL refines product, reducing
prices and boosts sales significantly.
2022 (3 Months After Shark Tank): Monthly sales surge to
₹10-13 lakh, with 1,000+ units sold.
2022-2023: SEPAL continues expanding, focusing on IoT
integration and smart features.
2024: SEPAL aims to transition into a full-fledged IoT
platform, expanding market reach.
