Sippline
Initial Ask – Rs. 75 lacs for 15% equity at a valuation of Rs. 5 Cr.
About the Company
The problem of dirty rims of the glass led to the launch of this company, which produces drinking shields. The product is a sterilised reusable portable attachment which avoids contamination of any kind. But, there are certain problems with the product: for example, people are not aware of any such product and marketing became tough because of the inconsistency of the sales person.
Past performance of the Company
The company has till now made sales of 1200 units.
Industry Overview
The industry for such products based on glass used for drinking does not really exist. There is no defensibility here. It is literally like a solution, looking for a problem. There is not a demand for any such product, because people don’t care. Even if someone does, they can use straws.
Offers made, and the one accepted:
No sharks offered a deal.