- Founders: Shikha Shah & Madhu Shah
- Business: Recycled Decor
- Ask: ₹50 Lakhs for 10% Equity
- Valuation/ Networth: ₹15 Crores
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 1 Episode 31
Scrapshala Shark Tank India Pitch:
Scrapshala is an Indian Startup which appeared on Shark Tank India Season 1 Finale. They recycle the materials in creative form to make home decor out of them. Not only that, Their products can also be used as gifts & lifestyle. All their products are handmade. The founders sought an investment of ₹50 Lakhs for 10% of the total company valuing the business at ₹5 Crores.
Scrapshala has 15 artisans and over 500 product designs in its inventory. So far, they have sold to more than 5,000 customers across India. The company was started in 2016. The founders also added that all their products are also hand painted.
Scrapshala has made a revenue of ₹27 lakhs in the past year. They also opened their first store in Banaras last year which is all made from recycled materials. The founders added that they just started their website last year as well and before that, they used to sell only through online marketplaces.
Scrapshala Negotiations & Funding:
Vineeta went out because she felt like it was not scalable. Aman went out for to same reason as well. Ashneer felt like it was more or so a boutique but not an investable business therefore he went out as well. Namita couldn’t find a difference in the product therefore she went out as well. Anupam felt like this was not investable therefore he went out as well.
Who are the founders of Scrapshala?
Shikha Shah & Madhu Shah founded Scrapshala. They are from Banaras. Shikha has graduated from IIT Chennai.
How is Scrapshala doing after Shark Tank India?
Our research in the Scrapshala revealed that while they did not get a deal, Their appearance on the show had a positive impact on the business. As of July 2024, The company is still in business and thriving. You can check out their products by clicking the Amazon button below!
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Here are other companies from Season 1 Episode 31.