The shark tank India startup RoadBounce has raised INR 80 lakhs for the equity of 20% from Shark Tank India. Shark Peyush Bansal invested in this road bumper and pothole detection startup.
The original ask by the pitcher was 80 lakhs rupees for the equity of 20%. Aman Gupta, Namita, Ashneer, and Anupam, the sharks, took a step back. Peyush counters with an offer of Rs. 80 lakhs in exchange for 20% equity in the company. And finally, the pitcher agreed with 80 lakhs rupees or the equity of 20%.
About RoadBounce Shark tank show India
Ranjeet Deshmukh is the founder of RoadBounce Indian Shark tank. Ranjeet has worked as a Chief Technical Officer and Technical Architect for various startups and large organisations in India and the United States. Before RoadBounce, he started two other businesses. The first was purchased by the leading shipping software vendor in the United States. The second was a collaboration with the United States Veterans Administration facility in San Diego.
RoadBounce is a technological business that assesses the metre of terrible roads with potholes, bumpers, and cracks. The startup has an app that collects data from customers when they use it while travelling and uses that data to generate real-time information for them. Assume that live broadcasts can aid an ambulance in an emergency. The business concept is built on a service provider, and Ranjeet has applied for a patent in this field, which he believes he will obtain in the near future. The company is valued at eight crore rupees. The revenue earned in the previous fiscal year 2020-21 is estimated to be around 30 lakhs rupees. In the financial year 2019-20, revenue was Rs.1.50 crore rupees. This year’s revenue forecast is Rs. 2.50 crore.
Problem solved by Roadbounce.
The main problem solved by the RoadBounce is it can be installed under any vehicle to detect the potholes, bumpers and cracks on the road; it will help the authorities to detect those potholes and repair the road on time. This will help in public welfare.