- Founder: Ranjeet Deshmukh
- Business: Software Company
- Ask: ₹80 lakhs for 10% equity
- Valuation/Net worth: ₹8 Crores
- Funding: ₹80 lakhs for 20% equity
- Sharks: Peyush Bansal
- Episode: Season 1 Episode 17
Roadbounce Shark Tank India Pitch:
Roadbounce is an innovative road safety device that utilizes sensors and artificial intelligence to detect road hazards such as potholes and obstacles, providing proactive warnings to drivers and riders. Additionally, it gathers and evaluates data on road conditions, creating a road quality map. The startup pitched its concept on Shark Tank India, where Founder Ranjeet Deshmukh sought 80 lakhs rupees for a 10% equity stake in the company. At the time of the pitch, they had amassed data covering approximately 50,000 kilometers.
Operating on a service-based model, Roadbounce generates revenue from either road contractors or the government. Despite facing a revenue dip to 30 lakhs in FY 20-21, attributed to the COVID-19 pandemic, the company had previously achieved ₹1.5 Crore in revenue in FY19-20. Year-to-date in FY21-22, Roadbounce secured contracts worth ₹2.5 Crores, with plans to fulfill them by year-end.
Roadbounce Shark Tank India Negotiations:
During the Shark Tank India episode, Anupam expressed concerns about OLA collecting similar data and sharing it with the government for free, leading him to exit the deal. Aman saw no issue and chose to exit as well, while Ashneer and Namita both opted out due to different reasons. Peyush, intrigued by the business, offered ₹80 Lakhs for a 20% stake, a deal promptly accepted by Ranjeet.
Who is the founder of Roadbounce?
Ranjeet Deshmukh founded Roadbounce in 2016. He is an IIM Ahmedabad graduate and has worked several senior-level roles before starting this venture. He is also the Founder and CTO of another startup called Definitics Software Solutions & Services.
How is Roadbounce doing after Shark Tank India?
Our research in the company revealed that the deal with Peyush Bansal was not Finalized after the show. Despite this setback, Roadbounce remains operational as of November 2023. Ranjeet disclosed in the summer of 2023 that RoadBounce had been selected as one of the winners of the MAIL innovation program by Maruti Suzuki. As Roadbounce operates as a business-to-business (B2B) model, specific details on its consumer base and other areas remain undisclosed. We will provide updates as more information becomes available.
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Source: Roadbounce Instagram
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