Biography of Dawood Ahmed: Founder and CEO of Elixes Bikes- Entrepreneur
Dawood Ahmed’s Vision for Elixes Bikes
Dawood Ahmed, the founder and CEO of Elixes Bikes, appeared
on Shark Tank Pakistan alongside Abdul Wahab, the COO of the company. Together,
they pitched their innovative electric motorcycle startup, requesting PKR 20
million for a 15% equity stake. The two founders explained their individual
roles and contributions, with Dawood holding 70% of the company’s shares and
Abdul Wahab owning 30%.
The Birth of an Idea
Dawood shared how the concept of Elixes Bikes originated
during his university years when he converted his regular bicycle into an
electric bike to save money. This small experiment eventually grew into a
business idea. Abdul Wahab, who brought 35 years of family expertise in
motorcycle parts and extensive experience in energy ventures and fundraising,
joined forces with Dawood to transform the idea into reality.
Addressing Challenges in the EV Market
The duo highlighted the common pain points in Pakistan's
electric vehicle (EV) market, including limited range, slow charging times, low
speeds, and insufficient load capacities. Through rigorous research and
development, Elixes Bikes set out to solve these problems with their flagship
electric motorcycle, designed to cater to the needs of local consumers.
Impressive Features of the Flagship Model
The founders presented the key features of their electric
bike, which include a 200 km range on a single charge, a charging time of just
four hours, a top speed of 80 km/h, and the ability to carry up to 250 kg.
These specifications were carefully developed to address market gaps and meet
the expectations of consumers.
Biography of Dawood Ahmed: Founder and CEO of Elixes Bikes- Entrepreneur/ age/net worth/startup/shark tank pakistan/electric bike/Elixes Bikes story
Real-World Testing and Validation
Elixes Bikes has already tested their prototypes with
ride-hailing companies like Yango and BikeWay, gathering crucial feedback and
securing Letters of Intent (LOIs). These collaborations validated their concept
and demonstrated the potential of their product in practical use cases.
Plans for Expansion
The funding sought by Elixes Bikes was intended to establish
a local assembly plant, which would enable them to manufacture bikes
domestically and reduce production costs. This step was deemed crucial for
scaling the business and making their product more accessible to consumers.
Early Achievements
The entrepreneurs shared their accomplishments, including
raising PKR 4 million in equity-free grants from organizations such as IPP USA
and Youth for Climate Change. These achievements showcased their ability to
secure external support and their commitment to sustainability.
Concerns About Pricing
Despite the innovative features of Elixes Bikes, the sharks
raised concerns about the pricing of the product, which stands at PKR 3 lakhs.
For middle and lower-income families, the primary target audience, this price
was considered steep even with installment options.
Competition in the EV Market
The sharks also pointed out the growing competition in
Pakistan’s EV market, with established players like Jolta and EzBikes having
significant funding. They expressed doubts about whether Elixes Bikes could
compete effectively without a more substantial investment.
Feedback from the Sharks
While the sharks appreciated the passion and innovative
thinking behind Elixes Bikes, they decided not to invest. They encouraged the
founders to explore alternative strategies, such as retrofitting existing
motorcycles with electric kits or introducing swappable battery systems to
lower costs.
Moving Forward Without a Deal
Although Dawood and Abdul Wahab left Shark Tank without
securing a deal, they gained valuable insights to refine their business model.
Their journey highlighted the challenges of competing in a growing market and
the importance of aligning pricing, funding, and scalability to ensure success.
The founders remain determined to advance their vision of revolutionizing
Pakistan’s EV sector.
Timeline for Elixes Bikes
University Years (Dawood Ahmed) - Dawood creates the first
electric bike prototype.
Partnership Formation - Dawood and Abdul Wahab join forces,
leveraging Wahab's 35 years of family expertise.
Prototype Development - Designs flagship model with a 200 km
range, 4-hour charging time, and 80 km/h speed.
Testing Phase - Tests prototypes with Yango and BikeWay;
secures LOIs from ride-hailing companies.
Early 2024 - Secures PKR 4 million in equity-free grants
from IPP USA and Youth for Climate Change.
Shark Tank Appearance (2024) - Pitches for PKR 20 million
for 15% equity; leaves without a deal.
Post-Pitch (2024) - Incorporates shark feedback to refine
the business model and explore cost-efficient solutions.
