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Mahantam has raised INR 30 lakh from shark tank season 2. All five sharks, Piyush, Veenita, Anupam, Namita and Aman, invested in this startup.
The Pitcher asked for ₹30 lakhs for 10% equity of the company at the valuation of ₹3 crores. Anupam offered ₹30 lakhs for 20% equity in the company, but later all the sharks joined the deal to support the owners of Mahantam. All five sharks gave a final offer of ₹30 lakhs for 20% equity. The pitcher accepted the deal, and the deal was finalized with all five sharks, Piyush, Veenita, Anupam, Namita and Aman, for ₹30 lacs at 20% equity.
Also Read Cloudworx has raised INR 40 lakhs from shark tank season 2. The owner asked for 40 lakhs rupees for 2% equity in the company. Namita and Anupam invested in this startup.
About Mahantam
The founders of Mahantam are Dhaval Prakashbhai Bai and Jayesh Prakashbhai Nai. They are from Gujarat. Dreamdeal has given them a grant, an initiative by Anupam and his team where they give grants to small startups in return for no equity.
In Indian tea stalls, tea is generally offered in paper or glass cups. These paper cups are not good for our health and for the environment. And another option we have is glass cups. But they are not washed properly and not even used in hygienic ways in those tea stalls. In order to solve this problem, they have made a tea glass washing machine called Mahantam. It can wash 12-15 glasses together in 30 seconds. Its compact size and simple design are the USPs of this product.
The washing industry can develop many such products by using this design. They have the vision to set up these machines in every tea stall in India so that everyone can get hygienic tea. This machine took 6 months for Dhaval to create a design. He made the machine during the lockdown. Then a friend of Dhawal recorded a video of this machine and uploaded that on YouTube. In Surat Chai, By Engineers watched the video and contacted Dhaval to get this machine but to present his machines, he went to different colleges and raised ₹1 lakh. With that money, Dhaval made five machines. Three of them are sold in Karnataka, Tamil Nadu, and Maharashtra.
Mahantam Business Statistics:
The manufacturing cost of this machine is ₹19000. The gross margin is 32%, and the price of each machine is ₹28000. They have the target to sell 50 machines in the current year. In this machine 38-litre water container can wash up to 250 glasses.
What Problem Do They Solve?
The company brought a cutting-edge, effective semi-automatic machine called the Tea Glass Washing Machine for tea cafes and coffee shops. With this machine, one can maintain good hygiene while saving time and work, and because of its small size, it also fits on small floors. It comes with innovative features and a distinctive design. Purchasing this equipment can enhance your tea shop’s overall productivity. This product gives a distinctive image in the eyes of clients. So, everybody can enjoy their tea without a second thought about hygiene.
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