- Founder/Owner: Siripurapu Monish Kumar
- Business: Cooling System
- Ask: ₹90 Lakhs for 1% Equity
- Valuation/ Networth: ₹90 Crores
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 3 Episode 44
CoolAnt Shark Tank India Pitch:
CoolAnt is a natural and biomimetic cooling solution which can be installed on facades of buildings and serves as a natural cooling system. The pitch started with the founder sharing that Air Conditioners and refrigerators account for 16% of greenhouse emissions globally. CoolAnt can reduce the air conditioning load on a building by 30-70%. It can also be installed in houses, schools, and other institutions. They have installed it in 30 buildings so far. The founder sought an investment of ₹90 Lakhs for 1% of the company, valuing the business at ₹90 Crores.
The founder started CoolAnt in 2015 and shared that the product also functions as a shading device from the sun, with its spacing adjustable according to the orientation and angle of the sun. Additionally, it also provides ventilation. They also add water to include evaporative cooling. Moreover, They are currently undergoing lab testing to validate their results. The founder also added that they have products which are open source but they also have products which are developed with Computational Fluid Dynamics (CFD) and Aerodynamics.
CoolAnt’s Revenue & Financials during Shark Tank India:
CoolAnt operates on contract manufacturing. They have made a Gross revenue of ₹1.1 Crores for FY23-24 till November 2023. Their net revenue was at ₹84 lakhs. The company is projecting to close the year at ₹2 Crores with a projected burn of about ₹20 lakhs. They have an order book of ₹2.8 Crores.
Vineeta was the first shark to go out of CoolAnt’s negotiations due to the business not being investable for her at this stage. Namita goes out citing the valuation is unreasonable considering the revenue. Anupam goes out citing the unpredictable future revenue streams. Aman goes out citing he is just not excited about this category. Ritesh goes out citing he is not yet convinced if this would be successful commercially.
Who is the founder of CoolAnt?
Siripurapu Monish Kumar founded CoolAnt. He is an architect and installation artist. He graduated from the School of Planning and Architecture, New Delhi. Monish has his architecture firm which operates as a different entity.
How is CoolAnt doing after Shark Tank India?
Our research into CoolAnt revealed that while they did not get a deal on Shark Tank India, their appearance on the show had a positive impact on their business. Also, this has given them validation and exposure all over India which would, in turn, translate into sales. We will update this article with sales numbers once they come to light but in the meantime, you can check out Shark Tank India products by clicking the Amazon button below!
Thank you for supporting the blog as we make small commissions on purchases done through the above link.
Source: Instagram @coolant.co
Here are other companies from Season 3 Episode 44.
1 thought on “How is CoolAnt Doing After Shark Tank India?”