The shark tank India startup Thinkerbell’s Annie has raised INR 1.05 crores for 3% equity from Shark Tank India. Lenskart founder Peyush Bansal, Emcure executive director Namita Thapar, and Shaadi.com & People Group founder Anupam Mittal invested in it.
As previously said, India has around 20 lakh visually challenged children with a low literacy rate. Even in affluent countries, the reading rate for visually challenged children is only about 10%. According to the WHO, one out of every 1000 visually impaired children requires a device like Annie. This product is a game-changer.
The startup has a market capitalization of Rs 60 crores. Annie requires strategic investors to get to the next stage, and they have given a 0.5 percent stake for Rs 30 lakhs. Peyush Bansal countered with a Rs 1 crore offer with 5% equity and the promise of making it available in all Lenskart outlets. Namita proposed Rs 30 lakhs for a 0.75% stake, claiming that she could bring it to many countries. Anupam Mittal made an offer of Rs 30 lakhs at 1% interest. Team Annie offered a counter of 1 crore for 2.5% ownership. Anupam, Namita, and Peyush, three sharks, came together to finalize the purchase for Rs 1.05 crores for 3% equity.
About Think Bell Labs
The startup was formed by the students of BITS Pilani – Sanskriti Dawle, Aman Srivastava, Saif Shaikh and Dilip Ramesh. The low literacy rate of visually challenged children is a global problem, and Thinker Bell Labs has developed Annie, an outstanding solution to address it. As we’ve previously stated, Annie is the world’s first self-learning, remote-enabled Braille literacy technology. It aids children in learning braille by allowing them to talk in their native tongue. It’s coupled with their Helios product, which will enable you to track your child’s progress and download the additional learning content. This also makes it possible for the youngsters to attend school. Annie is suitable for children aged 4 to 15. Each device costs around $1000, or roughly Rs 70,000, with a profit margin of nearly 50%. Their sales forecast for FY 2021-22 is five crores, with a target of more than 20 crores for the following year.
Problem Solved By Think Bell Labs
When it comes to the co-founders’ ambition, they want to take Annie global and create a revolution in education for special needs children. Because education is suitable for every child, this product revolutionizes visually challenged children.