Roadbounce
Initial Ask – Rs.80 lacs for 10% equity at a valuation of Rs.8 Cr.
About the Company
Aiming to solve the problem of proper road condition monitoring, this company has come forward with a tech based application. This application measures the car vibration and use these to generate precise clinical quality data for the roads travelled. Surveyed around 40,000 kms of road till now, this company provides their services to make travellers aware of the bad road condition.
This company has been taking business from Government and road contractors till now. Also designed a small device for Singapore Government which uses the same tech used in a car, to assess the road quality. With their patent in process, they expect to eliminate competitors in this field further. However, some sharks don’t see the purpose targeted a major problem, thus making the business unviable.
Past performance of the Company
The company earned a fancy amount of 1.5 Cr. in the year 2019-20, followed by a revenue of Rs. 30 lacs in the year 2020-21. This year, they have already done business worth Rs. 2.5 Cr.
Industry Overview
India has the 2nd largest road network in the whole world. If we view this sector from the Government rates point of view, then also it makes around 100-200 crores annual business. This is solely due to the fact that road condition monitoring is a must in order to enhance the road infrastructure of an economy, especially for a developing economy like India.
However, road condition monitoring can be easily achieved by the big names, like Google. Infact, Ola already does this and submits the data to the Government free of cost. These conditions are making
Offers made, and the one accepted:
For the love of technology, Peyush Bansal offered an amount of Rs. 80 lacs for an equity of 20%. Well-suited offer from both sides, they closed the deal at this itself.