Startup Bamboo India has raised INR 50 lakhs for the equity of 3.5% and debt of INR 30 lakhs from Shark Tank India. Sharks Ashneer Grover and Anupam Mittal combinedly invested in this startup.
The original ask by the pitchers was INR 80 lakhs for the equity of 4%. In exchange for 4% equity in the company, Aman’s counter was for 20 lakhs and 60 lakhs in debt. Peyush counters for 80 lakhs in exchange for a 20% stock stake. For an 8% stake in the company, Anupam and Ashneer counter for 40 lakhs in cash and 40 lakhs in debt. Peyush and Aman have teamed up to make a counteroffer of 80 lakhs for 20% equity. Pitchers counter for 50 lakhs in cash and 30 lakhs in debt for 3% equity. For 6% equity, Anupam and Ashneer counter for 50 lakhs rupees and 30 lakhs in debt. For 5% ownership, Peysuh and Aman counter for 50 lakhs and 30 lakhs in debt. Finally, the deal was sealed by Anupam and Ashneer at INR 50 lakhs for the equity of 3.5% and debt of INR 30 lakhs.
About Bamboo India
Ashwini Shinde and Yogesh Shinde are the founders of the startup. They are from Pune. Bamboo India is a company that specialises in producing toothbrushes made entirely of bamboo. To date, they have produced over 40 lakh bamboo toothbrushes. Because used plastic toothbrushes did not mix up soil and polluted the environment, bamboo India was established. Their items are supplied to over 2050 pin codes in India and 18 countries worldwide. Bambooindia.com is their website. The products of Bamboo India are available on Amazon and Flipkart. Their products are sold at about 300 retail outlets across India. They have hired a manufacturing operation in Pune, which produces 50,000 brushes every day. They rebrand the products and sell them.
The company is valued at 20 crores. When they first released their first line of products in 2015, each brush cost 180 rupees and was handcrafted. They have optimised the value to an MRP of Rs. 45, with a making cost of Rs. 15 and a gross margin of Rs. 30. The sales for the previous fiscal year, 2020-21, were Rs. 2.8 crore. Sales for the current fiscal year 2021-22 have hit 2.2 crores as of mid-October. In 2021-22, sales were expected to be around four crore rupees.
Problem Solved By Bamboo India
We all use plastics, toothbrush, and other plastics products, which is very harmful to the environment. Bamboo India products are made of bamboo wood which is bio decomposable. By using these products, we can contribute to a better environment. And by using these India made products, the country’s economy will grow more.