- Founder: Ravi Kaushik
- Business: Air Purifiers
- Ask: ₹60 lakhs in exchange for 1% equity
- Valuation/ Networth: ₹60 Crores
- Funding: ₹1 Crore for 3.7% Equity
- Sharks: Aman Gupta & Vineeta Singh
- Episode: Season 4 Episode 4
Airth Shark Tank India Pitch:
The founders started their pitch by sharing that most Air conditioners just recirculate the air from outside thus recirculating the pollution as well. To solve this issue they started Airth. Airth is an Indian startup which is scheduled to appear on Shark Tank India Season 4. They claim to be the world’s first AC Air purifier. The founders sought an investment of ₹60 lakhs in exchange for 1% equity in the company valuing the business at ₹60 Crores.
The filter sits on top of the Air Conditioner and does not require any electricity. It protects consumers from PM2.5, PM 10 and invisible germs. Airth prevents inhalation of 30 grams of dust per year into Lungs each year. It also helps reduce AC maintenance costs. The product is priced competitively at ₹3,000 and it transforms an ordinary AC to a powerful Air Purifier.
Airth has gotten their technology tested form IIT Kanpur and IIT Delhi as well and they are creating this new category. They have installed their product in over 25,000 homes so far. They also have products in the pipeline for Car AC and Air Conditioning buildings as well. The company have filed a patient for technology which can destroy microorganisms.
Airth’s Financials & Revenue during Shark Tank India:
Their device is Modular and remains equally functional in Summar and Winter respectively by removing and adding an attachment. The company was started in 2020 and Abhimanyu joined full time in late 2021. Ravi has 64% equity in the company and Abhimanyu has 2%, 17% is with the investors, the director has 3%, 7%. is with ESOP, 4% is with IIT Kanpur, 1% is with Kanwal Enterprise & remaining is with mentors.
The company have raised a total capital of ₹3.3 Crores so far. The founders shared that their unique proposition is that they protect from both air pollution and disease transmission. Notably, The coating was developed in collaboration with professors at IISc Bengaluru but has been licensed exclusively to Airth for 15 years.
The filter is priced at ₹2,200 for the summer version and ₹ 3,200 for the winter version. The filters would need a replacement after 8-12 months but there is no ongoing maintenance required. They sell through their website and Amazon. Amazon contributes to 70-80% of the total revenue.
Last year was their first financial year where they made a revenue of ₹2.1 Crores. For FY24-25, Airth has already made a revenue of ₹2.2 Crores by October 2024. They closed last month at ₹44 Lakhs. They are projecting to close this year at ₹6-7 Crores. In FY23-24, The company burned a total of ₹43 lakhs. This year they are mostly breaking even this year. They are projected to make profits this financial year.
For an item which sells for ₹2,200. it comes to ₹1,864 after paying GST, COGS is at 33% leaving them with a gross margin of 67%. Their platform fees are around 14%, Logistics 5% and Customer Acquisition Cost is at 16%. The fixed costs are at around 20% leaving them with with an EBITDA of 11%.
Airth Shark Tank India Negotiations & Funding:
Vineeta was the first one to give an offer of ₹60 Lakhs for 2%. Anupam offered ₹1 Crore for 5% because he wanted to be invested in the company. Varun couldn’t get a conviction on who would scale the business side therefore he went out.
Peyush liked the purpose but he went out due to issues with the capital table. Aman offered ₹1 Crore for 5% as well. The founders counter the sharks with ₹96 Lakhs for 3% equity in the company valuing the business at ₹32 Crores. Aman and Vineeta join hands and ask for 4% for ₹96 lakhs. Anupam revised his offer to ₹2 Crores for 10%. Aman changed their offer to 3.7%. which after much thought, The founders accepted and they shook hands on ₹27.3 Crore valuation.
Who is the founder of Airth?
Airth was founded in 2020 by Ravi Kaushik. Ravi has a Bachelor of Technology from the National Institute of Technology in Kurukshetra, Haryana. He also graduated from IIT Bombay with a Masters Degree.
What is Airth’s Mission?
The company’s mission is to transform hundreds of lives every day by changing the way people breathe. They believe that clean air is everyone’s right, and they are on a mission to create healthy homes and businesses by protecting you and your loved ones from the dangers of air pollution and disease transmission with their technology and innovation developed at IIT Kanpur, IIT Bombay and IISc Bangalore.
What Technology do they use for Air Purification?
The company is using what they call Airth Coating which is basically a germ-destroying air filter which can deactivate germs using ingredients like polyphenols and polycationic polymers commonly found in green tea. These ‘green’ ingredients rupture the microbes through site-specific binding.
Not only that, their filters are also equipped with cutting-edge HEPA technology designed to deactivate viruses and bacteria effectively. Beyond microbial deactivation, they excel in filtering out fine particulate matter, significantly improving indoor air quality. Certified for their superior performance, these air filters provide consumers with the assurance of a healthier and safer living environment.
How is Airth doing After Shark Tank India?
Our research in the company revealed that while they did get a deal on Shark Tank India, Whether that deal closed after the show is still not clear. The early signs suggest that the deal has collapsed but we will update this article once more clarity comes to light.
The company has been featured on many news channels and popular media due to their innovative products. You can check those products out by clicking the Amazon button below!
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