Sid07 Designs
Initial Ask – Rs. 47 lacs for 10% equity at a valuation of Rs. 4.7 Cr.
About the Company
Trying to make people’s lives easier by innovative inventions, this company has yet launched 11 products, out of which 3 are patented and 2 are pending for patents. Out of these 11 inventions, some of the products are drill duster, ToGo – flat folding silicon based collapsable cup, desk clip, etc.
Being in a proof of concept phase, the company has not made much sales yet. However, for the desk clip and many other products that were presented, the sharks were of the opinion that the products are copied and a tinkering business. The founder wants to make a business out of his inventions, where in he can license them.
Past performance of the Company
Being in the proof of concept phase, the company recorded a sales of Rs. 14 lacs in the year 2020. In the month of October, 2021, they made a sales of Rs. 1 lac.
Industry Overview
This company represents a community which comes forward for making lives easier with their foray of knowledge, put into various new inventions. The community is so big that according to the United Nations’ World Intellectual Property Organisation (WIPO), 3.3 million patents were granted in 2019 for such things. AI, ML, IoT are the major aspects of most of the inventions today.
Thus, if a product is truly problem solving, it does not take much time to hit the market. However, there are two aspects to it, invention as well as business. For this reason, the task becomes too hefty.
Offers made, and the one accepted:
Relating to the founder on a personal level, Peyush Bansal was the only one to make an offer where he was ready to invest Rs. 25 lacs for 75% equity of the company along with a debt of Rs. 22 lacs. The deal was closed at this bulky offer.