Woloo
Initial Ask – Rs. 50 lacs for 4% equity at a valuation of Rs. 12.5 Cr.
About the Company
The company has an application, which uses an aggregation model, which uses A-Grade restaurants and asseses their washrooms in terms of hygiene and usability. The application helps the users to track such restrooms and also navigates the users to the washrooms as well. Currently the platform has over 1200 certified restaurants on its application.
The platform has a subscription model and uses Shed-Economy, which makes the business scalable and Asset-Light. The platform using its reward systems to lower the maintenance cost of restrooms in the restaurants, and also helps the restaurants to maintain by guiding the same.
The company provides a facility to the restrooms by providing a gadget, which can detect the smell problem. A threshold has been set up, and if the restaurant breaches the threshold, it triggers an alarm, and if this happens thrice in a day, the restaurant is delisted.
Past performance of the Company
The company experienced sales worth Rs. 23 lacs from Aug-Oct 2021, of which October 2021 alone recorded Rs. 9 lacs.
Industry Overview
It is a major problem, especially for women, because their is a lack of clean and hygienic restrooms. The government is taking up initiatives to launch hygienic public restrooms, however, the management of such restrooms is not possible.
The main problem is the foul smell that a restroom emits, and a user does not want to use a smelly toilet.
Google may introduce ratings on toilets by the users, which will crush any other firm which tried to grow in this region.
Offers made, and the one accepted:
Namita offered Rs. 25 lacs for 10% equity and Rs. 25 lacs as debt @12%, which was countered as 35lacs at 6%. No deal was concluded.