The startup Ariro has raised INR 50 lakhs for 10 percent equity by sharks Mr Aman Gupta, co-founder and CMO of boAt and Mr Peyush Bansal, founder and CEO of lenskart combinedly.
Did you know a baby whose age is less than 24 months eats a credit card-sized plastic from plastic toys in a year? So to avoid this problem, Ariro is producing wooden toys, especially Neem wood toys, which are medicinal.The use of single-use plastics is increasing day by day, and it’s a huge environmental concern.
The startup owners primarily asked for INR 50 lakhs for 2.5 percent equity to the judges. At first, Mr Ashneer Grover offered INR 50 lakhs for 15% equity, but Mr Aman Gupta and Mr Peyush Bansal countered and offered INR 50 lakhs for 10% equity. After long bargaining, finally, the entrepreneurs agreed with a deal of INR 50 lakhs for 10 percent equity by Mr Aman and Mr Peyush jointly. The Shark Tank India is providing the stage to many Indian entrepreneurs.
This Chennai based startup was founded by a couple named Mr Vasanth and Mrs Nisha. The idea of startup had come with the birth of their child, as all of you know children try to eat everything that comes into their hand which is very unhealthy. So the couple decided to produce Neem wood toys in 2016. The startup manufactures products like farm animals, Montessori wardrobes, pickler triangle, jungle gym, learning tower, balancing board, mobiles, teethers, push-pull toys, sliders puzzle, stacking, baby floor gym, rattles and balancing beam etc. These all mentioned products are only for 0 to 2 years of children. The company has a revenue of INR 5 crores.
Problem Solved By Ariro
Using wooden toys and avoiding plastic toys will solve the environmental problem, as plastic is non-biodegradable and pollutes the soil and water. Neem wood toys are safe if a child tries to eat them; Neem has excellent antifungal and antibacterial properties. This type of startup in Shark Tank India requires more.