Balance Bikes, E-clinics, And Best Out of Flowers!
1 year ago Rituka MTipayi, DigiQure, and Nirmalaya pitch their innovations and offer to the sharks from balancing bikes, and telemedicine, to making the best out of flowers.
Tipayi’s sustainable balance bikes!
Children in their primal years develop skills and characteristics that build their character. Various experiences lead to building this, and cycling remains a child’s first brush with independence. However, parents worry about their safety and choose balancing wheels to protect their kids. To eliminate balancing wheels, instill a sense of confidence and independence in kids and parents alike, and develop the balancing skills of the kid, Prem Kale developed Tipayi. Bringing a wooden balance bike without pedals or brakes, Tipayi’s cycle is a sustainable & premium wood cycle. Additionally, it is all-weather resistant. Primarily targeting children between the age of 1-5 years, Tipayi is made in India. With a granted design patent, they have lifetime sales of 700 bikes sold across India and the US. They have 26.5L in sales year to date, and the products are affordable at Rs. 5000.
Asking the tank for an investment of 50L for 10% equity @ a 5cr valuation, Tipayi receives an offer from Peyush & Aman. The Sharks offer a deal of 5L for 10% equity @ a 50L valuation & 45L debt at 12% interest. The founder counters with a higher valuation and no debt deal, but the Sharks did not budge. Lastly, as Tipayi did not aim to take on any debt, they did not take the deal.
DigiQure lands an offer to make a difference
Finding good and reliable medical facilities in rural areas is difficult. Due to a lack of proper healthcare facilities, a lot of people succumb to preventable diseases. Bringing a revolution to the healthcare industry, Akanksh Tandon & Soumen Banerjee came up with DigiQure e-clinic which is based on telemedicine. Apart from digital counseling, they also provide lab tests, Digi prescriptions, and a subscription card known as a sakshyam card. This card costs 1rs per day and they have 1800 subscriptions. DigiQure has a presence in MP with 7 e-clinics, 2 mobile clinics, 50+ doctors, and 4000+ successful checkups. DigiQure has a noble vision to reach 100cr people living in rural India to prevent any kind of preventable diseases. Additionally, they aim to expand across India and bring healthcare to all rural areas. Over the period of Jan-sept 22, they have sales of 12.2L.
Seeking an investment of 40L for 4% equity @ a 10cr valuation, DigiQure receives multiple offers based on the condition that the IT company and DigiQure merge as one entity. Sharks Namita, Peyush, and Anupam offer deals to the founders. Countering Namita’s original offer which is 40L for 20% equity @ a 2 crore valuation, DigiQure pitches an ask of 40L for 10% equity @ a 4 crore valuation. Shark Namita seals the deal and aims to build a thorough network for the company.
Nirmalaya’s offer to make the best out of waste
On a regular basis, temples create an excessive amount of recyclable waste which doesn’t get utilized. One of the major contributors to this is flowers. Usually, these flowers are discarded in lakes for them to disintegrate. Moreover, the pesticides and other products used to preserve flowers damage the lakes and rivers. Over 28L tonne of flowers goes to waste. To eliminate this and recycle the flowers, Nirmalaya was started by Rajeev, Bharat, and Surbhi Bansal. Bringing organic products made from recycled flowers, Nirmalaya has a range of incense sticks, dhoop, cones, havan cups, essential oils, and attars. Their products are CSIR certified. Nirmalaya collects flowers from over 300 temples and recycles them to make these products. Aiming to become India’s largest organic fragrance company, they have sales of 3 crore year to date with a projection of 8crores in this FY22-23.
Having raised Rs. 6.5 cr on July 22 @ a 28cr post-money valuation from Artha Ventures, Shiprocket, and others, Nirmalaya seeks an investment of 60L for 1.4% equity @ a 40cr valuation. The Sharks love the idea, however, they did not give any offers to the founders.
