Julaa Automation
Initial Ask – Rs. 50 lacs for 10% equity at a valuation of Rs. 5 Cr.
About the Company
Currently in their prototyping stage, this company has tried to solve several problems that parents are likely to face with their toddlers. They have launched a swing for toddlers, which is connected to bluetooth and can literally be operated with the help of mobile phone. Having automatic swing control, fan and light too in the automatic fashion, they have tried to curb down the burden of young parents. Not only this, they have an inbuild weighing scale in the product itself, they have automated lullabies if the child needs one, they have a wet detector system in place and they even have tyres attached to it, for its easy movement.
However, the founders spent Rs. 25 lacs for the prototype that created. Already patented, their products has all its features in modular format. They can reduce the cost of the product as they go on increasing the production, still being too highly priced. To this, sharks suggested them to license it to some company and making money out of it.
Past performance of the Company
It has no past performance. Their plans ae to sell a swing at a price of Rs. 80,000-1 lac, which is way too costly for a regular Indian customer.
Industry Overview
In order to reduce the burden of modern parents, ‘smart’ use of technology in things like baby swing can become too disruptive. But, the major issue in this sector can be its pricing and affordability. Scalability is difficult to achieve, whereas cost cannot be reduced until economies of scale come into effect.
However, big players like that of FirstCry have the ability to do so. Thus, growth in the smart swing sector has a long way to go.
Offers made, and the one accepted:
No sharks offered a deal.