• Founder: Mukul Chhabra
• Business: Scrap Recycling
• Ask: ₹60 Lakhs for 3% Equity
• Valuation/ Networth: ₹20 Crore
• Funding: ₹60 Lakhs for 5% Equity
• Sharks: Amit Jain
• Episode: Season 2 Episode 25

ScrapUncle Shark Tank India Pitch:

ScrapUncle, a Delhi-based startup founded by Mukul Chhabra, has transformed scrap recycling through its website and app. The Company aims to revolutionize India’s recyclable waste management by deploying trained agents to collect scrap from homes and offices, offering accurate weighing and fair value for the materials. Their commitment to “responsible recycling” underscores their dedication to ethical waste management. ScrapUncle sought investment of ₹60 lakh for 3% of the company.

Their sevices are available through their website and app. All their agents are trained and verified and pick up the scrap with 100% accuracy and gives you the best value. Their process automates the recycling and scrap can be collected from various locations. ScrapUncle has done over 22,000 pickups in last two years which collectively comes to over 14 lakh Kilograms of scrap which has been recycled from just Delhi NCR area. Their gross margin from customer to Recycler is at 45%. Mukul shared that the monthly earnings of Scrap Dealer were around ₹35 thousand which has jumped to ₹70 thousand. They had grand of ₹23 lakh from Columbia University with no equity exchange.

Their montly sales are at ₹27.5 Lakh and they did ₹35 Lakh in revenue in their first year which was FY20-21 followed by ₹1.48 Crores in FY21-22. They are hoping to close this year at ₹6 Crores. 90% of their sales comes from B2C and rest comes from businesses. Their CAC is at ₹110 and they have 50% retention rate in 4-month cycle. Out of ₹27.5 Lakh the company is breaking even.

ScrapUncle Shark Tank Negotiations and Funding:

Aman was the first shark to go out citing he is not interested in this buisness and company needs lots of work and their will be too many operational challenges. Namita loved the entreprenuer and his clarity but she didn’t see how she can add value in the business therefore she goes out of the deal as well.

Vineeta gives the first offer ₹30 Lakh for 5% of the business and she would do rest of the amount as debt@12%. Amit gives the second offer of ₹60 Lakh for 10% of the company. Anupam also jumps in for sale amount for 8% of the company. Amit revises his offer after Anupam offer to and went down to 7%. Anupam goes to 6% after hearing that from Amit. Amit gives one last offer of ₹60 Lakh for 5% of the company which Mukul Accepts without any hesitation.

Who is founder of ScrapUncle?

ScrapUncle, a Delhi-based startup founded by Mukul Chhabra, has transformed scrap recycling through its website and app. Launched in 2019 by Chhabra, an Indraprastha Institute of Information Technology graduate, the venture stemmed from his prior experience co-founding DroneMed, an unmanned aerial vehicles startup. While DroneMed garnered accolades and grants, it eventually closed its operations.

How is ScrapUncle doing after Shark Tank India?

Our reserch in the company reveled that ScrapUncle’s Shark Tank India deal with Amit did indeed close after the show aired and company is thriving. After few months of shooting the pitch, Mukul shared on the Podcast in Feburary 2023 they now they process 150-200 Ton worth of waste per month with total monthly amount reaching and they are doing around ₹35 lakh of revenue per month which would be a month before their episode Aired.

As of November 2023, the company is still in business and thriving. Their website suggests that they have onboarded lots of big corporations in India including likes of Godrej and TATA. While their numbers are not publicly available yet, we will update this article as soon as more information comes to light.

Source: ScrapUncle Instagram

Here are other companies from Season 2 Episode 25.