Shark Tank India 4: Namita got furious ‘This is exploitation’, Anupam said- ‘I will not take free equity’
Shark Tank India 4: A startup has come to Shark Tank India which will surprise you,Which has given a different decorative touch to the decorative lamps, the name of this decorative lamp startup is Rosha. It was started in 2019 by Delhi-based Kanwardeep Singh, Gaurav Tikiya and Shivam Diwan with great understanding.
Startup Business of Rosha
A startup has come to Shark Tank India which will surprise you,Which has given a different decorative touch to the decorative lamps, the name of this decorative lamp startup is Rosha. It was started in 2019 by Delhi-based Kanwardeep Singh, Gaurav Tikiya and Shivam Diwan with great understanding. This startup claims to have made India’s first portable rechargeable lamp.
According to the startup founders, after charging this lamp for 3-4 hours, it can be used for about 8-10 hours, Till now he has made more than 100 designs, now he has started making solar lamps also ,Till now this lamp has reached more than 5000 restaurants and museums as well as more than 15000 homes.
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Started business with childhood friends and made them co-founders
The three co-founders have known each other since the age of 5. All of them have been friends since school days. After completing their education, all of them got involved in their family businesses, but always wanted to do something of their own. Meanwhile, one day, when the three talked to the manager of a restaurant in Delhi, some surprising things came to light. The manager told them that candles worth about 30-40 thousand rupees are spent every month. There is also a problem in handling them and the smoke coming out of them is also harmful.
Turnover Of Rosha – Shark Tank India 4
When the company started its business in 2019, it saw much more profit than expected, earning around Rs 60 lakh in the first year. The next year, the revenue increased to Rs 1.80 crore, which remained the same the year after that. In 2022-23, the company’s revenue increased to Rs 3 crore and in 2023-24 it increased to Rs 8 crore. This year, the company has made sales of around Rs 5 crore in the first half and it is expected that by the end of the year the revenue will reach Rs 16 crore.
When the founders asked for funding of Rs 60 lakh?
When it was the turn of the founders, they asked for funding of Rs 60 lakh in exchange for 1 percent equity in their company. Namita and Piyush were out of this deal. Ritesh-Anupam together paid Rs 60 lakh and asked for 3 percent equity and also asked for 1.5 percent royalty until 1.5 times the investment is recovered. Aman Gupta paid Rs 60 lakh and asked for 2 percent equity and also asked for 1 percent royalty until 1.5 times the investment is recovered.
In the midst of this series, Ritesh-Anupam-Aman together demanded 10 percent equity and 2 percent royalty by paying 60 lakh rupees, till their money is recovered 1.5 times. Namita expressed her displeasure at this despite being out and said- this is exploitation yaar… this is wrong… how can you give a valuation of 6 crores in a sale of 16 crores? Piyush said that you do not even want to do the deal.
Anupam said- ‘I will not take free equity’
Finally, when the founders gave a counter offer saying that this is for everyone and Aman can come alone. On hearing this, Anupam said- ‘You people have disrespected me, I am out, now even if you give me equity for free, I don’t want it.’ Finally, Aman-Ritesh gave Rs 60 lakh funding in exchange for 4% equity and also took 1.5% royalty, until 1.5 times the money is recovered. In this way, the founders finalized the deal.
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