The shark tank India startup KG Agrotech has raised INR 30 lakhs from Shark Tank India. Out of that 30 lakhs, peyush invested INR 10 lakhs for the equity of 40% and 20 lakhs as debt with no interest. This is an Agricultural innovation startup.
The pitcher originally asked for INR 30 lakhs for the equity of 10%. Anupam is uninterested in agriculture, so he took a step back. Vineeta advised that he put his proposal and films on a website where he might obtain orders and raise funding. She took a step back as well. Ghazal was out of the agreement because she was concerned about the business’s scalability. Namita Thapar had decided to leave the company since she was uninterested in it. Peyush counters with a 10 lakh rupee offer for 40% equity in the company and a 20 lakh rupee debt at 0% interest. And the pitcher accepted Peyush’s offer.
About KG Agrotech Shark Tank India
Kamlesh Nanasaheb Ghumre is the founder of the startup. While spraying medicine on farming grounds, a farmer carries a pesticide machine on his back, which is quite heavy. The waist area hurts a lot after carrying it all day. In addition, dangerous drugs enter their bodies through their noses, unprotected skins, and eyes. His father suffers from the same issue. He invented a system that allows the tank to be kept on a three-wheeled constructed cart and insecticides to be sprayed by pressing a handle attached to the cart.
He began working on this product invention in 2014, and it took him seven years to complete. It is a product that can be used for a variety of purposes. The machine is small and light. He intends to connect batteries to the machine and is already working on seed dropping. His video became viral using this type of merchandise, gathering over 65 million views on YouTube.
The company is worth 3 crore rupees. The company has yet to begin operations. The product’s manufacturing cost is Rs. 8000, and the selling price will be Rs. 12000.
Problem solved by KG Agrotech Indian Shark Tank
KG Agrotech solved the central problem of reducing the weight of the fertiliser tank. Farmers now don’t have to carry the tank on their backs to work more efficiently. And their skin also is protected as this three-wheeler cart does not allow exposure directly to a chemical fertilizer tank. The cost problem is also solved as available at a low price. Every farmer can afford the product.
[…] KG Agrotech, an agricultural innovation startup, has raised INR 30 lakhs from Shark Tank India […]