The shark tank India startup ARR coat has raised INR 30 lakhs for 10% equity and 20 lakhs as debt from Shark Tank India. The only shark, Anupam Mittal, founder and CEO of shaadi.com people’s group, invested in this startup.
The original ask was INR 30 lakhs for 5% of the equity. Even though the product is excellent, Ashneer Grover believes it is a super-premium product with a niche appeal. As a result, he would remain outside. Namita also stated that she does not know the area and will refrain from participating. Aman, too, decided that the business wasn’t worth investing in and left. Peyush explained that there are two businesses: one that deals with interior design (Concept creation) and paints (ARR Coat). Something about this doesn’t feel right. He’d be a consumer, not an investment, so he walked away. Anupam became intrigued by the product and proposed a deal of INR 30 lakhs for 10% equity and 20 lakhs as debt with some restrictions.
Offer 1: Anupam Mittal agreed to make ARR Coat an offer subject to several restrictions.
- All claims (environmentally friendly, calm, and practical) would have to be tested and proven.
- There should be no identical products on the market, and Ekbal should own a third of the company.
- Kranti should concentrate on the interior business (Concept Kreation) and leave the ARR Coat business to Ekbal and his son (Saransh). They could hire a new co-founder to handle the marketing part of the company.
About ARR Coat
The founder began talking about Ekbal (who is in the tank too). He is the product’s original inventor and oversees its production. He started his journey as a factory assistant, where he learned painting. He relocated to Dubai in 2004 to work as a paint applicator to retain texture and wall painting.
His passion for the startup led him to conduct extensive research to find an environmentally acceptable paint solution. He stated that he spent nine years looking for a chemical-free alternative because the dangerous compounds in paints cause rashes and skin problems. When he couldn’t find a solution, he moved to India in 2016 to manufacture his chemical-free product. His total sales in 2020 were INR 77 lakhs, and his sales projection for next year is INR 1.5 crore.
Problem Solved By ARR coat
But finally, he was able to create the ideal product: an environmentally safe and hazard-free coating solution.