Peeschute
Initial Ask – Rs.75lakhs for 4% equity at a valuation of Rs.18.75Cr.
About the Company
The company has created a patented formula, which is put in unisex funneled bag, in which a person can pee and the liquid which goes in, will solidify immediately. This will avoid any bad odour and also avoid spillage or any dirt being spread due to this while travelling.
This bag can be used by travellers for any unprecendented requirements.
The company is also planning to set up isolation cubicles at various places like Bus Stops, Railway Stations at costs as low as Rs.2,500/- which is very affordable and might be supported by the government. The only problem with this is the spillage of urine in the isolation cabin, and its regular cleaning.
However, the sharks believe that the company might play on their patented formula to solidify the urine put inside the bag.
Past performance of the Company
The company has generate revenue worth Rs.42lakhs till date, out of which in year 1, Rs.14lakhs were generated.
The company aims to complete this year at Rs.1Cr.
Industry Overview
With the Swacch Bharat Abhiyan, the concept of public restrooms took the flight. The government has spent lacs of crores on constructing public toilets and a solution like this is very unique, there is no competition in this arena which gives an edge to this company.
There are a few competitors which are looking into similar problems like Peesafe. However, this might not directly impact the company with regards to the unique proposition of solidification of urine.
An Innovative Idea and solves a very widespread and common problem. The product has high chances of being promoted by the government as the govt is already running campaigns to install washrooms and this product will definitely help it a lot. The fact that it is easily disposable is a huge benefit for them.
Previous Equity Split
Fund were earlier raised at a valuation of Rs. 7.5Cr.
Offers made, and the one accepted:
1. Ashneer Offered Rs.75lakhs for 7% equity
2. Vineeta and Anupam Offered the same for 10% equity
3. Aman matched Vineeta and Anupam’s offer. This is countered for Rs.75lakhs in exchange of 6% equity. Aman accepted the counter offer.