- Founders: Kowshik Devarajan
- Business: Smart Locks
- Ask: ₹75 Lakhs for 3% Equity
- Valuation/ Networth: ₹25 Crores
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 1 Episode 31
Astrix Shark Tank India Pitch:
Astrix is an Indian Startup which appeared on Shark Tank India Season 1 Episode 31. The company claimed to make India’s smartest door and cupboard locks. Their locks are smartphone-compatible and can be opened with fingerprint, RFID, Number pad & OTP. The founders sought an investment of ₹75 Lakhs for 3% equity in their company valuing the business at ₹25 Crores.
Astrix makes all their products in India and all their products are also made from steel. The founders claimed that they were the only manufacturer of smart locks in the country. Astrix charges the distributors ₹13,500 per piece. The product retails for ₹21,000 to ₹35,000.
Astrix made a revenue of ₹25 Lakhs in the last 4 months. The company is mainly selling through dealers and distributors. They added that only a very small portion of their total revenue came from D2C as their strategy is to predominantly be a B2B business. They made revenue of ₹18 Lakhs in just last month and the founders are expecting to make ₹50 Lakhs in next month.
Astrix Shark Tank India Negotiations & Funding:
Anupam was the first shark to go out due to not having an understanding of B2B space. Aman felt like he couldn’t add value therefore he went out as well. Ashneer felt like established brands would dominate this market therefore he went out of the deal as well. Namita felt like she couldn’t add value therefore she went out as well. Vineeta just wasn’t excited about the category therefore she went out as well.
Who is the founder of Astrix?
Kowshik Devarajan founded Astrix. He has a background in real estate.
How is Astrix doing after Shark Tank India?
Our research in the Astrix revealed that while the company did not get a deal on Shark Tank India, Their appearance on the show had a positive impact on the business. As the company is mainly operating in the B2B space, there just isn’t enough information available on them to give more updates. The last they posted was in 2023 when they shared that they won a VISHWAKARMA AWARD.
As of July 2024, We were unable to find any signs of the company’s operations therefore we are concluding that they are out of business. While their products are not available, you can check out other Shark Tank India products by clicking the Amazon link below!
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Here are other companies from Season 1 Episode 31.