Episode Transcript
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Announcer (00:00):
The following
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J Bernstein.
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Entrepreneur, founder, authorand financial advisor, Marc
Bernstein helps high-performingbusiness owners turn their
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(00:20):
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Marc Bernstein (00:41):
Good morning
America.
How are you?
This is Marc Bernstein andyou're here on Founders Forum
listening with us, and it is abeautiful, sunny day in
Philadelphia.
We joke about it always beingsunny in Philadelphia and from
previous shows you know that'snot the case.
It's been a lot of cloudy,rainy spring.
But today is gorgeous and Ihave a great guest in the studio
(01:04):
with me today.
We're going to get right intoit.
We have Virind is in the studio.
I'll officially introduce him ina moment, but for our thought
of the day, I just want tomention that you know, this show
to me, is a lot about lifelonglearning.
I've mentioned that indifferent ways.
I for one, you know, I like tosay I'm very immature for my age
(01:27):
, but part of that has to dowith the fact that I don't
really think I know anything.
I'm continuing to learn andalways curious and always in
discovery, and I find that'strue of most of my guests.
I think you almost have to bethat way to a certain extent to
be an entrepreneur.
So today we actually are goingto record a second show today,
which should be you should behearing that soon after you hear
(01:50):
this show with another.
We're talking to two techinnovators today, and both of
them are involved with AI in abig way, and this one in
particular, Virind, is also veryinvolved with robotics and
technology in general.
So I'm titling this littletopic, which I think we'll do
(02:11):
part one and part two.
On the second show, theLearning Advantage how Founders
Stay Ahead of the Curve andVirind, I'd just like to ask you
obviously that's something youhave to do what are your
thoughts on that in terms ofbeing a lifelong learner and
staying ahead of the curve,particularly in the field that
you're in?
Virind Gujral (02:29):
First of all,
thank you very much for having
me here, Marc.
I appreciate it.
It's my pleasure.
Well, learning is very naturalto me.
I'm a Sikh, and Sikh means aperson who likes to learn.
Marc Bernstein (02:46):
Who likes to
Sikh, but I know that's not what
it means.
Virind Gujral (02:50):
I am a Sikh, I
like to learn and I continuously
learn about different,different things.
Marc Bernstein (02:56):
You didn't get
my English pun.
Sikhs to learn, you know, oh,sikhs to learn.
Oh yeah, there you go, anyway.
Oh yeah, thank you, go ahead.
Virind Gujral (03:02):
No problem, there
you go Anyway.
Oh yeah, thank you.
Marc Bernstein (03:03):
Go ahead, no
problem.
Virind Gujral (03:05):
Yes, and so I
have.
I'm a mechanical engineer.
I came from India and alwayswanted to learn and learn about
new things, new technologies,and in that process, I have
learned a lot of new thingsabout life, about people, about
(03:26):
journeys, about challenges, andthose are the things you know if
you've been long enough in thatjourney, you say that, yes, you
should be an entrepreneur now,and that's how I became an
entrepreneur.
Marc Bernstein (03:46):
Well, and when
you hear Varun's background and
all the things that he's done,you'll understand that he's had
to learn in a lot of differentareas, but it sounds like.
So how are you conscious of thefact that you're continually?
What do you do consciously tocontinue learning?
Virind Gujral (03:59):
Well, the thing
is, I think, a lot about future,
what is coming ahead and howthe problems will, what will be
the problems anticipating them,what will be the solutions and
always look at, you know, from abusiness perspective.
I always look at, if there areproblems, what can be the
(04:21):
potential solutions that canbenefit the stakeholders, all
the different stakeholders.
It is not about just one personor one company.
It is how you can benefit and,in return, then create value for
yourself while you are creatingvalue for others.
Marc Bernstein (04:37):
Well, what you
just said is why I was so
excited almost a year ago whenwe first met to have you on the
show.
You've been a busy guy, butbecause my brand is called
Forward Focus Forums and that'swhat I'm all about too, in my
financial planning business aswell Forward focus helping
entrepreneurs think about theirfutures and what that looks like
(04:58):
, and same for us on our owncompany.
So we're like-minded.
I'm very happy to have you here.
So let me tell you a little bitabout Varin.
His name is Varin Gujra.
He is a mechanical engineerwith an MBA and 17 years of
experience in fuel operationsmanagement for one of the
(05:18):
largest truck leasing companiesI can mention who that is right
Penske and overseeing over abillion-dollar fuel portfolio.
He holds a patent in his nameand has been a featured speaker
at numerous industry conferences.
That's what he gave me, but I'mgoing to tell you a lot more
than I learned about him.
He's over 30 years ofdiversified experience in
(05:39):
automotive, transportation,e-commerce, chemical and steel
industries.
He's a futurist, as he justmentioned.
He's inquisitive and he's ananalytical leader who is
passionate about autonomousvehicles and technology.
I'm one of the first adoptersof Tesla, which isn't popular
with everybody today, but it'sstill a great car, regardless of
what you think of the founder,and so I'm very interested in
(06:03):
autonomous vehicles.
In fact, I've just adoptedagain I turn it on and off, but
full soft driving on the Tesla,which is really good now.
So I know that this is coming,and he's acquired, deployed,
managed state-of-the-arttechnologies, managed products
with substantial improvements tothe bottom line and supported
the advancement of autonomoustrucking with advising and
(06:26):
funding efforts.
So currently he is the CEO andco-founder of EVBots, that is
developing robots, just like itsounds like, to autonomously
charge electric vehicles, amission that combines his
expertise in AI and roboticswith his passion for data and
(06:46):
sustainability.
I'm not an engineer, but allthis stuff gets me very excited,
so I'm very glad to have youhere.
Virind Gujral (06:54):
Thank you, same
here.
Marc Bernstein (06:56):
So let's start
with your story, how you've come
from India and tell us yourhumble beginnings we like to
talk about, and how you came totalk about, and how you came to
America and how you got to whereyou are in terms of starting
this business.
Virind Gujral (07:10):
Sure.
Marc Bernstein (07:10):
Take us right up
to about the break, and then
we'll have lots to talk aboutafter that what?
Virind Gujral (07:16):
in India itself,
while doing engineering, my
father said I was at home forthe largest period of time and I
wanted to leave home andexplore the world.
My father said I was at homefor the largest period of time
and I wanted to leave home andexplore the world.
So my dad said if you want todo something, go to America.
That's the best country in theworld for you.
And I just prepared for it.
I tried different avenues andfinally I got a Rotary
(07:41):
Scholarship to come to theUnited States.
Marc Bernstein (07:44):
Were you the
oldest child in your family.
Virind Gujral (07:46):
Yes, I had a
younger sibling and I had to
stay back.
Actually, I decided to stayback and not come to America
immediately after my engineering, because in India you need to
get your daughters married.
And as the day she got married,I said to my father now I'm
going away and no better placeto go than United States.
Marc Bernstein (08:08):
So he sent you
to America, not your sister, I
imagine.
Virind Gujral (08:12):
She got married
and that's the day I—she remains
in India.
Marc Bernstein (08:16):
Right, she
remains in India.
Virind Gujral (08:17):
And he didn't
send me.
I came to.
Marc Bernstein (08:21):
There you go.
Well, he suggested you go toAmerica.
That's right, and you left thefirst day you could to go to
America, absolutely, and thanksto Rotary International I got a
scholarship, so that eased mypathway to come to University of
Pittsburgh for an MBA.
Right, so tell us about thatyour Pittsburgh, and then your
journey to Philadelphia.
Virind Gujral (08:40):
Ultimately, yeah,
it has been a great journey.
I had a friend in Pittsburgh,because of which I landed there
and was welcomed, but that timewas Iraq, war was going on and I
was wearing a turban and therewas a lot of misconceptions
about Sikhs.
But hey, you know, I was.
Marc Bernstein (09:02):
As he still is.
Virind Gujral (09:03):
by the way, if
you're not watching this on
video, yeah, and I was deridedsometimes but I took it in
spirit.
You know people don'tunderstand because I came from
to the US as ambassador ofgoodwill and peace, so I love
people, so I understand, so Iwanted to be part of, to not get
(09:24):
afraid by what they are saying.
I just said that I have toeducate and do that.
Marc Bernstein (09:29):
You almost
embraced it.
Virind Gujral (09:30):
it sounds like
yeah and it has been a fun
journey.
After that I did a couple ofjobs and then came to
Philadelphia so I've been heresince 2002, and I worked in a
great company and acquired greatskill sets for fleets and then
saw some opportunities, andthat's where I am.
Marc Bernstein (09:52):
So tell us about
that.
You were working with truckingfleets.
Then saw some opportunities,and that's where I am, so tell
us about that.
You were working with truckingfleets, right, right, so, and
you foresaw this need.
I know there's an issue ofefficiency in terms of fueling
those vehicles, correct, so talkabout how you kind of
discovered that and startedworking on solutions to that
problem.
Virind Gujral (10:11):
So I was
fortunate working for Penske
Truck Leasing, as you mentioned,and they have 13,000 fleet
customers and 300,000 plusvehicles in their fleet.
So I got a lot of understandingof fleet.
But when the transition ofelectric vehicles was coming, we
all knew that the problem willbe of charging infrastructure.
(10:34):
For fleets and fleets itbecomes very important.
Every cost matters.
So there were two options forthe fleets to adopt electric
vehicles.
Either they send their driversto charging stations and let
them charge for hour and a halfstandard the charging stations
(10:55):
and you can see that when theyare paid $100,000 a year it
becomes very expensive forfleets and then or the other
option was to spend a lot ofcapital expenditure and install
those charging stations on theirsites, and that takes a lot of
the grid may not have thecapacities.
The landlord may say I don'twant you to install this here.
(11:17):
So there were a lot ofchallenges and that's where we
came up with a solution.
Marc Bernstein (11:21):
But by the way,
presumably I mean if you drive
these trucks cross-country theyhave to stop and charge
overnight anyway, or during theday.
Virind Gujral (11:31):
Yeah, absolutely
correct.
So what is happening is we arenot trying to solve the problem
all for everybody.
We are trying to solve theproblem for the fleets, like
delivery vans, and all when theydeliver their products and
short last mile and short rangeand they come back to the base.
So we are talking about settingup our robot and system at
(11:52):
customer site where the vehiclesare parked and all we want is
our robot and our battery systemto have whatever electrical
connection they have that wewill charge, slow charge the
battery and fast charge thevehicle in the night when those
vehicles are not being used.
Marc Bernstein (12:12):
So tell me how
that works.
I'm a truck driver, I'mbringing this truck in, I park
it for the night, and then whathappens?
Virind Gujral (12:20):
Well, the truck
driver comes in parks in the
night.
So there are two options.
He can, through our app, say,hey, charge my electric vehicle
and go home, or we can link upour systems to their dispatch
center, and dispatch center cantell us that this truck is
parked here whenever.
This is the way you charge it.
(12:41):
So the instruction will comeeither from the driver, through
the app, or from the dispatchcenter, and our robot will get
that direction.
It will then pick up a batteryand it knows where to go.
We have back-end systemsthrough which we know that what
(13:02):
is the charge level of thevehicle right now, how much we
have to charge.
We have all that informationand with the AI and our robots,
and with the AI and our robots,we navigate that robot to that
vehicle and then our robot has arobotic arm that it uses to
pick up the charging plug fromthe battery and connect it.
Marc Bernstein (13:27):
And in the night
when nobody's there and then so
it charges the truck, itdoesn't replace the battery
because, you mentioned before,it picks up a battery.
Virind Gujral (13:33):
Yeah, yeah,
that's right.
You're absolutely correct.
We are not swapping anybatteries.
We are connecting the batteryto the electric vehicle, so it's
battery to battery, chargingand just like and it is no
different than so.
Marc Bernstein (13:46):
It's not a
plug-in charger, it's a battery
that recharges the vehicle,correct.
Virind Gujral (13:51):
And it is the
same system, like a human being
connecting the charging port.
Marc Bernstein (13:55):
Right that piece
of it, except that it's also
bringing the battery over.
Right right, right.
Interesting Now is thisoperating today?
Virind Gujral (14:02):
Yes, I would say
we have demos lined up, we are
finally testing it and it isready to be deployed.
We have a lot of next monthonwards.
We will be deploying it asdemos first and then paid pilots
in Q4.
Marc Bernstein (14:19):
Once that's
operating I'd love to come see
that.
Are you doing that locally inthe Philadelphia area?
Virind Gujral (14:24):
Yes, and not the
demo part.
For the testing part we aredoing locally, we have rented an
electric vehicle on which wewill demonstrate it, and then we
have customers in Pennsylvaniaat their factory.
We will be demonstrating attheir site and then later on we
(14:44):
have multiple other customers inChattanooga who would like us
to demonstrate their product.
Marc Bernstein (14:51):
So you have
customers pretty much lined up
ready to go.
Virind Gujral (14:54):
Yes, that is true
, the reason being the charging
infrastructure is lacking andthe grants that were there, they
are disappearing.
So our solution is charging asa service solution.
So the capex is not there forthe businesses.
They don't have to invest a lotof money in there.
It is per vehicle charging.
(15:15):
So what happens is when thathappens, they get efficiency and
as well as they get the benefitof not spending capital expense
, and that is very attractive tothem and we are getting a lot
of inquiries because of that.
Marc Bernstein (15:32):
I got a lot more
questions, but first we're
going to take a quick break andwe'll be right back.
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Marc Bernstein (16:37):
We are back on
Founders Forum.
I'm Marc Bernstein and we'rewith our guest, Virind Gujral
and Virind this is very excitingto me what you're presenting,
so it sounds like.
So when do you feel like you'llbe fully operational, where
you'll have customers that havethis in place?
Is this six months from now?
Is it a year from now?
Virind Gujral (16:58):
Q4 is our target,
where we will be starting to
deploy our product and ourobjective is we want to crawl,
walk and then run.
Makes sense.
Objective is we want to crawl,walk and then run.
Makes sense.
We have.
You know, there are so manycompanies Amazon, fedex, ups,
(17:19):
usps they are all having someelectric vehicles, delivery vans
.
That is our sweet spot.
But if you go to them right now, if they say I want 100 of
these, I cannot.
So we are planning already aheadof it, but we are first
deploying it to show and proveour concept that it works.
Marc Bernstein (17:41):
And you have a
patent connected to this, I
assume.
Virind Gujral (17:44):
In fact funny
that you said that Our patent
was published just now, on May29th.
But one thing I forgot to tellthat we are targeting the fleets
and we are not just talkingabout charging the vehicles, but
we are also looking forward todoing the tire pressure
(18:07):
management or maintenance.
Marc Bernstein (18:09):
So what we will
do is, you had mentioned that to
me before.
Virind Gujral (18:12):
Yeah, we will
have.
Our robot will remove the cap.
One tool will remove the cap,the other tool will put the tire
pressure in, and then we willbe adding a third tool to
measure the tread depth.
That way we know that the tireis how.
Marc Bernstein (18:29):
These are three
robots to do this.
Virind Gujral (18:31):
No one robot with
three tools.
Marc Bernstein (18:33):
Three tools got
it and to add to it.
Virind Gujral (18:37):
There will be one
more feature we will be
providing, because our robot hascameras.
We will take multiple picturesof that vehicle before it goes
out of the customer's facilityand that will be kind of a
pre-external inspection.
And when it comes back it willtake the pictures and then it
(19:01):
will tell to our customers inthe form of reports that what
has been damaged, what is there,what should be fixed.
Those are additional featuresapart from what we are doing,
and it will be with one robotand the services will depend.
So it's doing diagnostics aswell, it is, I would say,
(19:22):
diagnostics.
We leave it to the vehicleitself.
They are good at doing it.
We are providing theinformation for them to do
better diagnostics Interesting.
Marc Bernstein (19:33):
So this goes way
beyond doing delivery van
fleets at some point.
Virind Gujral (19:38):
Yes, yes, we are.
The reason we are starting withdelivery vans is their
batteries are smaller 100 watts,and then that is one, so that
we don't have to and they'reshorter range.
Shorter ranges and so we don'thave to tow a very big battery.
But as technology batterytechnology improves, we will go
(20:00):
for bigger batteries and takecare of bigger, larger vehicles
or vehicles with largerbatteries.
Marc Bernstein (20:09):
I mean, I'm
thinking you know Amazon, with
all the what are those vanscalled?
The name of the size vans?
Virind Gujral (20:17):
Rivian and oh.
Class A tractors you're talkingabout.
Marc Bernstein (20:23):
No, the size van
that they are the tall, thin
ones which probably requirebigger batteries, but basically
they're driving from thedistribution center to
deliveries all around town.
Yeah, and I would think thatwould be another great use for
them.
Virind Gujral (20:36):
That is perfect
target market for us, Right?
But we are not going there tocrawl, walk and run, Of course
of course, of course, of course.
Marc Bernstein (20:44):
Well, remember
Amazon itself.
They used to sell books, youknow?
That's all they did.
So you, so everybody startssomewhere, so pretty interesting
.
So what's your?
Well, I'll ask you this anyway.
We always ask about your futurevision.
You've chosen your three-yearvision, so tell me your vision
for the company and if there'sanything you want to talk about
(21:05):
personally that you see foryourself in the next three years
, what does that look like thatyou see for yourself in the next
three years?
Virind Gujral (21:12):
what does that
look like?
See, for next three years, Iwould like a proven concept so
that I can create I is a wrongword.
We, as a company, can createvalue to our customers by giving
them a technology that makestheir operations efficient and
(21:35):
less expensive.
That is one we would like to doa proven technology for them.
Secondly, we would like to havea solid basis where all the
other stakeholders our investors, our associates they are
(21:56):
comfortable with and believe inthis concept and are committed
to its growth for next 10 yearsor more.
So I want to have, in nextthree years, a proper base so
that everybody gets benefited,and one of the things that's
most important is it makes moresense to us because it will
(22:19):
increase the adoption ofelectric vehicles and that is
important for climate change.
So I think we are aligned inthe right way for the right
cause and we want to just proveourselves.
That gives us a base to getstarted on.
Marc Bernstein (22:39):
I mean, you're
doing great business, but you're
also doing great for the world,I believe as an early adapter
myself.
How about capitalization of thecompany?
Have you not fully self-funded?
I take it.
Virind Gujral (22:54):
Yeah, no, we have
raised some funds through angel
rounds and then we are inprocess of raising.
We have raised 50% of the moneythat we wanted to raise and
then we are getting more angelsinvested, interested in
investing.
I'm taking it a little bit slowon that because you've got to
(23:18):
give a lot of equity ahead oftime.
Once our demos and pilots aresuccessful and we have paid
pilots in Q4, we will be goingfor a very big round and VCs are
already interested in us.
I'm part of an acceleratorprogram called the CoLab, the
(23:39):
company lab in Chattanooga, andthey only select five countries
all over the world and we areone of the fortunate companies,
so they have invested in us.
They are in Tennessee, which isthe logistics hub of Tennessee,
of our country.
Our customers will be thereintroducing to customers,
(24:02):
introducing to funding.
Marc Bernstein (24:03):
So we are
excited about it, and hence
that's why you're ready to goand chat Nuga live at some point
.
Virind Gujral (24:09):
Yes, we are Very
interesting.
Marc Bernstein (24:10):
So that's
exciting.
So you don't have.
You don't sound reallyconcerned about getting funding,
like many of our guests are.
It sounds like that's prettynot a done deal, but you have to
prove it.
But it sounds like you know whoto go to and how that's going
to happen.
Virind Gujral (24:29):
And there are
things in the pipeline right, so
there are state fundings comingand we are talking to them.
So until the time it's not done, it's not done.
Marc Bernstein (24:37):
Right, right,
but it will be there.
I imagine the state ofTennessee invests heavily in
that sort of thing.
Yes, they are looking at usbecause we are setting up.
Virind Gujral (24:48):
we are planning
to set up an assembly operations
there, so that will give greatjobs and bring in technical.
We are moving our threetechnical engineers from here to
Chattanooga.
Marc Bernstein (25:02):
I haven't asked
you much about personally at all
.
We haven't talked, so I'm justgoing to are you married?
Do you have children?
Do you have a family?
Virind Gujral (25:09):
I have a
beautiful and wonderful one, and
only one wife.
Marc Bernstein (25:13):
Yeah.
Virind Gujral (25:14):
Married for last
32 years 32 years Wow.
And very happy to be it.
She's my friend, my partner.
Oh, you're lucky.
And then I have.
Marc Bernstein (25:25):
I have one of
those too.
I do that's good.
Virind Gujral (25:30):
Hopefully one and
only one.
Almost 36 years yeah, I do too.
That's good.
Hopefully one and only one.
Marc Bernstein (25:32):
Almost 36 years.
Yeah, I do too.
Virind Gujral (25:36):
And then we have
a wonderful 22-year-old son 23
now, I'm sorry studying computerengineering and helping me in
this project, and the funny partis I started this idea based on
his creation.
His idea, really, what happenedwas he was doing VEX robotics
(25:59):
in high school and because I wasdoing diesel and fuel, I told
him one day dude, why don't youmake me a robot that'll pull
gasoline in my car, lexus andguess what?
He made a robot.
And then, to this day, that isthe best thing that happens to
us.
Marc Bernstein (26:19):
So you've given
equity in the company, I assume.
Virind Gujral (26:22):
Haven't given him
, but he has invested.
Marc Bernstein (26:25):
Let's put it
this way, I'm getting in trouble
here, but very good.
So we only have about twominutes left, but that's a
perfect opportunity to ask you aquestion, and if we have time,
I'll ask you another one.
But tell me about your legacy,being that you have a
22-year-old son.
Sounds like he could beinterested in your company at
some point, if that's somethingyou would desire.
(26:46):
What does that look like?
Maybe your succession plan andor your legacy?
Virind Gujral (26:54):
As far as legacy
is concerned, I believe in
trying to work with people andtrying to get the best out of
them and reward them accordingly.
So it's about son is he has tofind his own path, his own
passion, his own things.
And if he's interested, is hehas to find his own path, his
own passion, his own things.
And if he's interested, he hasto prove and show the passion
(27:16):
and do like everybody else who'saround us.
Because if you're notpassionate about something, Did
he study robotics in college?
Yeah, he is a computer engineerand becoming a computer engineer
.
Yes, he will be, I'll leave itto him.
But most importantly, fromlegacy and succession
perspective, I have great teammembers and I like to build it
(27:37):
from within and especially I ama long-term player.
Whosoever works with me fromall kinds of partnerships and
everything I work with, and theassociates who are with me now,
who have put in their sweat andthing without you know getting
much, that's what I want.
Marc Bernstein (27:57):
Well, you can,
as you can hear from the music.
That's all we have time forVrind Gujral.
It was a pleasure to have youhere, really a fun interview,
and thanks for all of you forlistening, and we'll see you
next week on Founders Forum.
Thank you.
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