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Scrapshala

Initial Ask – Rs. 50 lacs for 10% equity at a valuation of Rs. 5 Cr.

About the Company

Recycling and reusing every waste material possible into products for home decor, lifestyle and gifting, this company has till date launched around 500+ products, with a consumer base of 5000+ customers. All their products are upcycled from wastes and are handmade, which takes double efforts and thus high prices. They have their business in the ecommerce platform, which they want to expand to the retail stores as well, because they want the customers to have a visual experience of their products.

Past performance of the Company

They recorded a sales figure of Rs. 27 lacs in the financial year of 2020-21.

Industry Overview

In Mumbai alone, 7 lac kgs of non-biodegradable waste is generated everyday, 90% of which goes into dustbins. Upcycling, thus, has become very important now-a-days. There has been a high month-on-month growth in the consumers of this sector, as their awareness has increased towards upcycling. They have become more conscious about their lifestyle and the environment, therefore experiencing a shift in the consumer trends. 
However, there are a few major challenges in this area: a design once sold, can’t be replicated. While awareness and education becomes important to be able to sell upcycled goods without worrying about pricing, retail business in this area is difficult. Competition with non-upcycled brands is also another challenge and the cluttered market just adds on to the difficulty. 

Offers made, and the one accepted:

No sharks offered a deal.

No Deal