- Founders: Pranjhal Sinha, Akshetha Maithri Ashok & Vikram Kumar
- Business: Online Dispute Resolution
- Ask: ₹1 Crore for 1% Equity
- Valuation/ Networth: ₹100 Crores
- Funding: ₹1 Crore for 1.5% Equity
- Sharks: Namita Thapar, Ritesh Agarwal & Aman Gupta
- Episode: Season 3 Episode 37
Sama Shark Tank India Pitch:
Sama is an online dispute resolution platform which appeared on Shark Tank India Season 3 Episode 37. The founder shared that they facilitate all the legal resolution of these disputes legally. they use ODR processes like online mediation & online arbitration. The founders sought an investment of ₹1 Crore for 1% of their company valuing the business at ₹100 Crores.
Sama’s Legal community has over 3,000 Arbitrators & Mediators and they have resolved over 35 Lakh cases so far. They take an average of 3 months to solve a legal dispute. Sama was started in 2015 at IIM Calcutta. They won an E-ADR challenge organized by ICICI Bank & Agami in 2019 and received a contract from ICICI Bank to be their ODR partner.
Sama’s founders shared that they have a process established for bringing in new mediator like firstly they need to clear their ODI training provided by Sama. Secondly, They would also need to do an interview with a psychologist after which they get another 3 months of coaching before working in a field with clients.
The company added that their biggest use cases are in Loan Disputes, Insurance Disputes and E-commerce Disputes. Also, their unique selling proposition is that they do ODI with a human touch. The company claims to have around 40% market share in the ODI market in India.
Sama’s Revenue & Financials during Shark Tank India:
As for revenue model, Sama charges prices according to the loan amount. Anything under ₹1 Lakh they charge ₹1,000, 1-2Lakhs they charge ₹1,500, ₹3-4 Lakhs they charge ₹2,000 and anything above ₹20 Lakhs they charge ₹4,000.
In FY23-24, Sama is projecting a revenue of ₹12 Crores as they have made ₹6.4 Crores by November 2023. They are also projecting a net profit of around 25%. They did a funding round in 2022 where they raised ₹50 Lakhs for 1% valuing the business at ₹50 Crores.
Sama Shark Tank India Negotiations & Funding:
Namita and Aman gives the first offer of ₹50 lakhs for 1% and ₹50 Lakhs debt at 10% interest for 3 years. Amit offered ₹1 Crore for 2% of the company. Ritesh joined Namita and Aman’s deal and Anupam decided to join Amits offer at the same valuation. The founders were hesitant to take debt so Aman changed their offer to ₹1 Crore for 2% as well. The company asked if they cloud close at ₹1 Crore for 1.5% which Ritesh, Namita & Aman agreed and they shook hands on ₹66.6 Crore valuation.
Who are the founders of Sama?
Pranjhal Sinha, Akshetha Maithri Ashok & Vikram Kumar founded Sama.
How is Sama doing after Shark Tank India?
Our research in the Sama revealed that their Shark Tank India deal was finalized and closed after their pitch was shot. As of May 2024, The company is still in business and thriving, their website suggests that they have resolved over 34 lakh disputes so far with an average resolution time of 45 days. The total value of these disputes was close to ₹80 Crores. You can check out their website for more information and click the button below to review other Shark Tank Products.
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Here are other companies from Season 3 Episode 37: