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Startup Hammer Lifestyle has raised INR 1 crore for the equity of 40% by shark Aman Gupta CEO and founder of boAt. The startup manufactures electronic and lifestyle-related products.
The startup initially asked for INR 30 lakhs for 3% of the equity. Namita Thapar seemed uninterested and took a step back. Piyush also took a step back. Aman requested that Rohit sell his company for one crore rupees or 100% stock for one crore rupees. Anupam and Ashneer counter offer for one crore in exchange for 25% of the company’s stock. Due to Rohit’s internal difficulties, Anupam had to withdraw. Asher is offering one crore in exchange for a quarter of the company’s shares. For one crore rupees, Aman counters for 75% equity. The pitcher asked if Aman could renegotiate the agreement, and Aman countered a new offer of 50% stock for one crore rupees. For one crore, Aman decreased the shareholding to 40% once more. Asher Grover countered with a one crore rupee offer for 20% equity. But finally, Aman Gupta stole the deal for INR 1 crore for the equity of 40%.
About Hammer Lifestyle
Hammer Lifestyle, a competent Ed-Tech firm that makes Bluetooth headphones, smart plugs, wireless chargers, electric toothbrushes, and other products, was featured on Shark Tank India’s inaugural season. The goal is to reach every corner of India. There are 14 stock-keeping units on the premises. Hammer Bass, wristwatch, and wireless charger are the top three. They have two watch models that range in price from Rs.2500 to Rs.3500. The smartwatch includes calling capabilities, something the Boat lifestyle lacks. Since its launch in 2019, the startup has served over 1.50 lakh consumers. The corporation is valued at 10 crores. Sales in the 2019-20 financial year are estimated to be about 2.5 crores; in 2020-21, they are estimated to be around five crores, and this year they have created a turnover of 6 crore rupees to date, with expected sales of about ten crores for this financial year only.
Problem Solved By Hammer Lifestyle
Hammer lifestyle offers quality and long-lasting products at a low price so that everyone can buy them from poor to rich. The company also provides customized products that fulfil the customers’ needs and make them happy.
