The startup Pawsindia has raised INR 50 lakhs for the equity of 15% at the valuation of 3.33 crore rupees from Shark Tank India. Shark Anupam Mittal invested in this Mumbai based e-commerce startup for pets.
The initial ask by the pitchers was INR 50 lakhs for the equity of 4%. Namita Thapar withdrew from the agreement, and Vineeta Singh suggested specialising in a specific product field and walked away. Peyush has also backed out of the deal. Ghazal said that she had already invested in such a company. Anupam counter is offering 50 lakhs rupees in exchange for 15% of the company’s stock. And the deal was finalised at INR 50 lakhs for the equity of 15% at the valuation of 3.33 crore rupees.
Priyam Singh and her brother are the founders of this e-commerce marketplace startup
. Pawsindia is a pet e-commerce marketplace and a product development firm specialising in innovation, advanced healthcare, and product development. Their e-commerce website contains between 250 and 300 different pet goods. They specialise in the production and expansion of pet items. The business has released the first intelligent pet toy that a remote can control. Healthcare accounts for about 25% of total sales, while food and toys account for 65%.
The startup is worth 12.5 crores of rupees. When the company entered the market, because of their unique offering, several small businesses came forward to help PawsIndia raise funding. They produce 90% of their revenue from their initiative, with the remaining 10% coming from outside investors. The last month’s sales were 20 lakhs rupees, with a net profit of roughly 15-16%. They made a revenue of 1.20 crore rupees in FY21-22, while roughly 1.20 crore rupees in FY20-21. In FY 21-22, the company expects to make Rs 3 crore in sales. Hemp oil is the most popular of their SKUs, and smart bone is particularly popular among city inhabitants.
Problem Solved By Pawsindia
This company assists other startups in their development. pawsIndia
specialises in the production and development of pet objects. The business has released the first intelligent pet toy, that a remote can control PawsIndia; it is devoted to the welfare of animals and is continuously looking forward to their advancement. The
biggest problem they are solving is the handling of pets through e-commerce.