Shark Tank Geeani
In this episode of Shark Tank India Geeani, India’s first smallest and cheapest e-tractor presents the pitch. Will the founders get a deal from the sharks? To know about the deal read till end.
|Founders||Divyarajsinh Bihola, Prajal Geeta Menon and Anitha Panikar.|
|Ask||₹75 lakhs for 7.5% equity|
Divyarajsinh Bihola, Prajal Geeta Menon and Anitha Panikar. They are from Ahmedabad. They are teachers and teach students from class 5 to 12, diploma engineering students and teach JEE NEET aspirants. Prajal lost his mother at the age of 18. He was suffering from depression, but Anitha looked after him. Divyarajsinh is an automobile engineer.
About the Company Geeani
There are more than 10k farmers in India who have less than 5 acres of land to survive. Due to low income these farmers cannot buy tractors, but they bring tractors on rent which consumes 60% of their income. In agriculture, many innovations are occurring but only for large scale farmers. Geranium is India’s first smallest and cheapest e-tractor. This is specially designed for farmers with small lands. This reduces the crop size and increases yield. Geranium can be used for intercropping. Although they are a pre-revenue company, more than 500 enquiries came to them after one video got viral. More than 1 lakh farmers watched the video. Battery warranty is 3 years. Battery life is 7 to 8 years.
- Width is 3 feet
- Patented drivetrain technology
- Compact design
- Lightweight – weighs only 550 kg
- 8X more efficient than diesel tractors.
Ask by the Owners Geeani
Pitchers asked ₹75 lakhs for 7.5% equity in the company at the valuation of ₹10 crores.
Geeani Sales And Revenue
Traditional tractors cost ₹5 to ₹5.5 lakhs, but is Geeani cost ₹4.8 lakhs. For one tractor, making cost is ₹3.8 lakhs, battery cost is ₹1.6 lakhs. Prajal has 20% equity share, Anitha has 40% equity, Anitha’s two sons have 40% equity. Total investment is ₹25 lakhs.
Offers and Counter Offers
Aman gave an offer of ₹75 lakhs for 7.5% equity.
Aman revised his offer and joined Anupam and Vineeta for ₹1 crore at 10% equity.
Amit offered ₹1.5 Cr for 20% equity at 7.5 crores valuation.
Amit revised his offer for ₹1 crore at 10% equity.
Geeani Final deal
Final deal was closed with Aman, Anupam and Vineeta for ₹1 crore at 10% equity.