Torch It
Initial Ask – Rs. 75 lacs for 1% equity at a valuation of Rs. 75 Cr.
About the Company
The company has used the SONAR method, through which Ultra Sonic Sound waves are released from the device, and if the Sound Waves hit something in front, the device informs the person using the device of it through vibrations. The SONAR method is actually used by Sharks as well and therefore is 99.7% accurate and helps the visually impaired to feel the things in front of them.
The owner of the company is also working on a technology which is based in glasses. These glasses will record everything in front of them and inform the user of such glasses about the details of whatever it sees. In this way, virtually, the visually impaired can also see the world.
The entire devices are being provided to the people at a very low cost. This makes this company greatly suitable for the Indian Markets.
The company has also developed a network of visually impaired who are the trainers for the product, hence allowing greater communication between the trainer and the trainee. The company has developed a network of 500+ trainers in India.
Industry Overview
The number of Visually Impaired people has risen over the past few years and is estimated to grow further in the coming years. Moreover, the awareness to help the visually impaired has been on the rise.
However, a lot of companies with numerous products have entered this market. In today’s date, 100s of companies have lent out a helping hand to the visually impaired. However, this is all being done in a Social initiative, and therefore the amount of expenditure in this sector is very low.
Past performance of the Company
The company has successfully fulfilled sales for Rs.1.10Cr. in the previous year and over Rs.2.60Cr. in the present year.
It also has a Rs.18Cr. purchase order to its name.
Offers made, and the one accepted:
Anupam offered Rs.25,00,000 for 2.5% of the company and the remaining Rs.50lacs as debt, which was turned down by the owners.