- Founders/Owners: Aman Rai, Rohit Patel and Anurag Dani
- Business: Smart Home Gym
- Ask: ₹1 Crores for 2.5% Equity
- Valuation/ Networth: ₹40 Crores
- Funding: ₹1 Crores for 5% Equity
- Sharks: Amit Jain, Azhar Iqbal, Anupam Mittal and Peyush Bansal
- Episode: Season 3 Episode 26
Aroleap Shark Tank India Pitch:
Aroleap is an all-in-one wall-mounted home gym solution designed to maximize space efficiency. Its slim build ensures it occupies minimal space, making it suitable for any home environment. The patented digital weight technology allows users to lift a maximum of 75kg, starting from as low as 2 kg with 0.5kg increments.
The machine offers three modes. The first mode is the Eccentric mode, which dynamically increases the weight in real-time to ensure maximum rep efficiency. The second mode is the Spotter mode, where users can customize the weight set to reduce the risk of injury under heavy loads. Lastly, the DIY mode allows users to define their workout routines directly on the machine. Additionally, Aroleap helps users track their progress.
Aroleap Revenue & Financials during Shark Tank India:
The machine cost is ₹1.6 lakhs plus GST, targeting primarily homeowners, hotel gyms, and physiotherapy clinics. In FY22-23, they achieved sales of ₹1 crore. For FY23-24, they are projecting sales of ₹3-₹3.5 crores with an anticipated profit of ₹30 lakhs. In FY20-21, they conducted a seed round, raising ₹5 crores at a post-money valuation of ₹25 crores. Currently, they have ₹20 lakhs in the bank and ₹30 lakhs in inventory.
Who are founders of Aroleap?
Aroleap was founded by Aman Rai, Rohit Patel, and Anurag Dani. They completed their schooling and attended IIT Delhi together. Aman serves as the COO, Rohit as the CEO, and Anurag as the CTO. Each of them holds a 21.5% Equity stake in the company.
Aroleap Shark Tank India Negotiations & Funding:
Namita believes the device price is too high, making it challenging to sell both in India and offshore markets, especially since offshore planning is still in the initial stages and lacks a concrete plan. Consequently, she sidelines from the negotiations. Azhar and Amit jointly offer ₹50 lakhs for 2% Equity along with ₹50 lakhs in debt at 12% interest for 3 years. Impressed by the device, Anupam offers ₹1 crore for 4% Equity, with a condition to focus on the domestic physiotherapy market. Peyush expresses interest in joining Anupam and proposes a combined offer of ₹1 crore for 4% equity.
In response, Amit and Azhar revise their offer to match Anupam and Peyush’s proposal, eliminating the debt aspect due to the founder’s lack of interest, but without any specific conditions. The founders counter with a proposal of 1 crore for 3% Equity. Anupam removes the condition from his offer while maintaining the valuation. Peyush then presents a counteroffer on behalf of Azhar, Anupam, and Amit, offering 1 crore for 5% Equity. Ultimately, the deal is finalized.
How is Aroleap doing After Shark Tank India?
Our research on Aroleap revealed that although they secured a deal on Shark Tank India with Anupam Mittal, Amit Jain, Peyush Bansal and Azhar Iqubal. it remains uncertain whether their deal with the Shark concluded after the show. Early Signs, however, suggest that there is a strong possibility they may have secured the funding.
While their financial figures are not yet public, we will update this article with more information as soon as it becomes available. In the meantime, you can explore their products by clicking the Amazon button below!
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Source: Instagram @aroleap
Here are other companies from Season 3 Episode 26.