The shark tank India startup SID07 has raised INR 25 lakhs for the equity of 75% and 22 lakhs as debt from Shark Tank India. This startup produces innovative products which used in day to day life. Shark peyush Bansal invested in this startup.
The original ask by the pitcher was 47 lakhs rupees for the equity of 10%. All of the sharks except Peyush walked away from the deal. Peyush Bansal, a shark, offered 25 lakhs for 75% ownership and 22 lakhs for a loan. Then Aman offered 25 lakhs in exchange for 65% equity and 22 lakhs in debt. Peyush agreed to a contract for 25 lakhs for 75 % equity and 22 lakhs in debt. And finally, the Pitcher agreed to peyush’s offer.
About SID 07 design shark tank India startup
Siddarth, 28 years old, is a young man from Jammu and the startup’s founder. Since he was a child, he has always wanted to make something or solve a problem. He was rejected from his dream college, IIT when he was 17. The firm creates novel, previously unseen products that are used daily. He has so far made 11 inventions, three of which have been given patents, two of which are pending, and six of which will be filled later. These inventions are all very distinct, but they all serve the same objective of making daily living easier. A drill duster is a tool that is used to clean drill bits. One of his products is a dust-free drilling system. It’s patented; Other products include a flat-folding, silicon-based foldable cup that’s easy to transport. His goal is to create things that are accessible to everyone. The corporation is worth 4.7 crores rupees. They made 14 lakhs in sales last year. He made 1 lakh in sales last month.
Problem solved by SID 07 Designs
SID07 designs solved the basic daily life problems such as the dustless drilling machine will help the user to use smoothly and protects user’s eye from the dust. The other product is a collapsible cup it can be taken to anywhere easily and the products are cost-effective. Due to cost-effectiveness, everyone could buy the products from SID 07 Designs