Shark Tank Padcare
In this episode of Shark Tank India Padcare, a sanitary napkin disposal system presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till the end.
|Ask||₹50 lakhs for 2% equity|
Ajinkya Dhariya is the founder and CEO of the company. He hails from Pune. He is 26 years old. He previously worked as an engineer.
About the company Padcare
A woman may use more than 7500 sanitary pads in her lifetime. The world is developing but still, basic problems such as sanitary pads disposal remain unsolved. Ragpickers pick this waste with their hands and this waste is either burnt out of shame or dig in the soil. In India 1200 sanitary napkins are generated every year. Out of this 98% goes to water bodies and landfills. A single sanitary napkin takes 500 to 800 years to dispose of. Padcare is the solution to all these big problems. Pedicure provides a menstrual hygiene management ecosystem to allow women to dispose of sanitary napkins in a dignified way and prevent ragpickers from this hazard.
The PadCare ecosystem has three components.
First is the decentralized PadCare bin. This resolves a woman’s privacy, health and hygiene and provides them at the source disposal facility. And this hazardous waste can be stored in this bin for 30 days.
The second component is PadCare X. This is India’s first 5D technology patent sanitary napkin disposal and recycling system. From this very high-quality wood pulp and plastic is written and this wood pulp is sold in the market to paper industries. Plastic can be converted into granules and bins are made out of it. This is 8 feet long and weighs 1 tonne. About 15k pads can be processed per day.
Padcare vend is a decentralized sanitary napkin vending machine. And women can take out pads from it.
This ecosystem is set up in cities, corporates, airports, big institutions and can be used in housing societies. They are available across 6 cities in India, in 150 organizations, 1 lakh women are using this, and 15 metric ton can emission is saved. Initially he installed 4000 units without any failure.
Ask by the Owners of Padcare
The owner made an ask of ₹50 lakhs for 2% equity at the valuation of ₹25 crores.
Padcare Sales And Revenue
He was supported by government grants, TATA Trust, and the Infosys foundation. He recommended a ₹2.25 crores grant from the government for this project. In December 2020 he raised ₹75 lakhs at a post-money valuation ₹8.75 crores. About 80% sales come from PadCare bin and Padcare X services and 20% of sales come from PadCare vend, recycled waste sales. Pad collection and recycling price is ₹475 and cost is ₹152 and gross profit is ₹323. The sales in FY 21 to 22 is ₹1.05 crores. Annual burn is 5 lakhs. Last month’s sales were ₹14 lacs.
Offers and counter offers
Peyush gave an offer of ₹1 crore for 4% equity of the company.
Anupam also gave the same offer.
Vineeta and Namita give an offer of ₹25 lakhs for 1% equity and ₹25 lakhs debt at no interest.
Anupam revised his offer for ₹50 lakhs for 2% equity.
Anupam, Vineeta and Namita offered ₹75 lakhs for 3% equity.
Padcare Final deal
The final deal was closed with Peyush, Veenita, Anupam, and Namita for ₹1 crore for 4% equity of the company at the valuation of ₹25 crore.