- Founder: Kranti Anand & Mohammad Ekbal
- Business: Wall Building
- Ask: ₹50 lakhs for 5% equity
- Valuation/Net worth: ₹10 Crores
- Funding: ₹50 lakhs for 15% equity
- Sharks: Anupam Mittal
- Episode: Season 1 Episode 11
ARRCOAT Surface Texture Shark Tank India Pitch:
ARRCOAT Surface Texture is a company that produces premium decorative surface plasters made from marble powder. The company claims that its products are water-resistant, washable, zero VOC, anti-crack, and have a cooling effect. They are an end-to-end wall solution company that has products for walls from bricking to the finishing point. They sought ₹50 lakh rupees for 5% of their business.
Their very first project was Gauri Khan’s house, who is an interior designer and the wife of Bollywood superstar Shah Rukh Khan. Kranti Anand shared that he is a vendor for Gauri Khan. Ekbal gets 30% of the profits related to products but has no equity in the company. The company made ₹77 lakh in FY20-21 with a net profit of 10%, and the projected sales for FY 21-22 are at ₹1.5 crores with a net profit of 20%.
ARRCOAT Surface Texture Shark Tank India Negotiations:
Ashneer thinks that the company is working in the super-premium market and wouldn’t be able to scale. Aman doesn’t think this business is investable, and he goes out as well. Namita thinks that she cannot help the company in scale; therefore, she goes out as well. Peyush adds that he will be the customer but will not invest in the business at this moment, so he goes out as well.
Anupam was interested in the company but had five conditions with the offer. The first one being that he would verify all the claims, the second that there is no similar product in the market, the third being that they would need to give Mohammad equity. Fourth was that Kranti would manage his other business and let Mohammad run this venture, and lastly, the company would need to bring a co-founder for marketing and distribution. Given these, he offers ₹30 lakh for 10% of the company and the rest as debt. The company takes a moment to think and counters at ₹50 lakh for 10%, which Anupam declines. Anupam counters at ₹50 lakh for 15% of the company, which they all agree on and shake hands.
Who are the Founders of ARRCOAT?
Mohammad Ekbal started ARRCOAT, as it is all manufactured by his experience. He was an applicator in the paint industry who worked in Dubai for 9 years. Kranti and Mohammad connected later after the product was developed to help take it to the next stage of life, which would be sales and distribution. He is the founder of Concept creation, which is a well-established interior contractor.
How is ARRCOAT doing after Shark Tank India?
Our research into the company revealed that their Shark Tank India deal with Anupam Mittal was not finalized after the show. The reasons for this fallout are still unknown. Despite that, the company is still in business as of November 2023. The company also shared on LinkedIn that they have won 8 awards in 2023.
Saransh Anand shared on a podcast, The Startup Trends, that Shark Tank gave worldwide recognition to the brand, and they got distribution requests from across the globe after their episode aired. He added that Shark Tank Funding was very small amount so they are negotiating another deal but he cannot share details about that. While the financials of the company are still unknown, we will update the article once more information comes to light.
You can check Shark Tank Products by clicking the Amazon button below!
Source ARRCOAT Instagram
Here are Updates on other Companies from Season 1 Episode 11.
1 thought on “Is ARRCOAT Surface Textures out of business after Shark Tank India?”