Shark Tank India 3: All Sharks Come Together for Only Rs 1,250 for 1% Equity in a Startup Offering Crop Stubble Solution
Seeking support from the Sharks, Anand and Arpit proposed a deal: Rs 1,250 for one per cent equity in their company, along with an additional 100 hours of the Sharks' expertise to help grow their business.
In a recent episode of Shark Tank India 3, viewers witnessed an inspiring pitch from Dharaksha Ecosolutions, a biotech-driven R&D company dedicated to creating alternative sustainable materials. Co-founded by Anand Bodh and Arpit Dhupar, the company aims to address the pressing environmental issues associated with conventional packaging materials like thermocol.
The Problem with Thermocol:
During their presentation, Arpit highlighted the detrimental environmental impact of thermocol, a petroleum-driven product that takes an alarming 2,000 years to degrade. Anand further emphasized that thermocol poses a more significant problem than plastic, as its recycling rate is less than 2%.
The Vision:
Arpit shared the company's vision of creating a sustainable future where clean air and water are accessible to everyone. He expressed a desire to recreate the clean blue skies commonly seen in Western countries, making them a global standard rather than a privilege.
The Pitch:
Seeking support from the Sharks, Anand and Arpit proposed a deal: Rs 1,250 for one per cent equity in their company, along with an additional 100 hours of the Sharks' expertise to help grow their business.
Unique Selling Propositions:
Dharaksha Ecosolutions showcased their innovative approach to sustainable packaging, which includes using crop stubble infused with their engineered mushroom strain. This process results in a product that not only reduces box size by up to 15-20% but is also hydrophobic, making it ideal for various industries.
Future Plans:
The founders outlined their future plans, which include developing a harder version of their product, matching the price of thermocol packaging within 3-4 years, and expanding into industries such as cosmetics and consumer electronics.
Sharks' Impression:
The Sharks were impressed by the founders' vision and innovation. Ritesh Agarwal praised their intellect, while Vineeta Singh commended their efforts, calling them "awesome." Aman Gupta eagerly supported the deal, expressing his enthusiasm to contribute.
Conditions of the Deal:
Despite their enthusiasm, the Sharks presented two conditions to the founders. Firstly, claims of debt and LOIs (Letters of Intent) must be verified. Secondly, the Sharks negotiated a 20% discount on the valuation of the next investment round.
In the end, it was an all-Sharks deal for Dharaksha Ecosolutions, with each Shark contributing Rs 1,250 for one per cent equity and offering 100 hours of their expertise. This partnership marks a significant step forward in the journey towards revolutionizing sustainable packaging and creating a greener, more environmentally conscious future.
Moving forward, Dharaksha Ecosolutions seeks guidance in areas such as developing a moat strategy, advancing technology and automation, accessing markets, and networking effectively. With the support of the Sharks and their invaluable expertise, the company is poised for remarkable growth and impact in the time of sustainable materials.
