Solinas Integrity Shark Tank Pitch:
Solinas Integrity, headquartered in Chennai, is a pioneering startup dedicated to eradicating manual scavenging in India by leveraging robotics within the sanitation industry. They specialize in developing and implementing robotic solutions tailored for various sanitation tasks. Among their standout products are HomoSEP, an innovative septic tank cleaning robot that operates without any manual intervention, and Endobot, a pipeline inspection robot designed for comprehensive analysis.
Their cutting-edge technology also includes iGlobus, an inline inspection robot primarily focused on detecting leaks and pilferage over extended distances. Solinas Integrity’s breakthroughs in the field have garnered significant recognition, including the prestigious Best on Campus award at the ET Startups Awards 2022. They sought an investment of ₹90 Lakh for 2% of the company. Price of the machine is between ₹15-25 Lakh after adding all accessories.
They have raised an investment of ₹4.2 Crores at ₹26 Crore valuation. Their FY21-22 sales were at ₹1.2 Crores and their current year run rate is at ₹5 Crores. ₹3 Crores will come from HomoSEP and the rest from services around Endobot. Their gross margin is at 60%. The founders share that the global market is $6 Billion and India would be around 10% of that.
Solinas Integrity Shark Tank Negotiations & Funding:
Amit loved the cause and liked the entrepreneurs and gave a joint offer with Namita of ₹52 lakh for 2% of the company and the rest as debt at 10% interest. Peyush thinks that this business needs partners and they need to make this more affordable. With that he gives an offer along with Anupam of ₹90 lakh for 3.35% of the company. Aman goes out citing they already have mentors and investors.
The company counter sharks at ₹66 lakh for 2% of the company. Peyush counters at ₹90 Lakh for 3% of the company. Namita and Amit goes out of the negotiations after a shark fight and founders accept Peyush and Anupam’s offer of ₹90 Lakh for 3% of the company.
Who are the founders of Solinas?
Bhavesh Narayani, Divanshi Kumar, Moinak Banerjee & Linda Jasline founded Solinas. They are based in Chennai. They launched in 2020. Divanshi and Bhavesh are IIT Madras graduates. Bhavesh is the product head of the company. Moinak has done engineering from Chennai. Linda has done B-Tech from Chennai.
How is Solinas doing after Shark Tank India?
Our research in the company revealed that their Shark Tank India deal with sharks did not close after the show aired. while the reason for the fallout is unknown. Data suggests that they still closed their funding round in November 2022 where they raised over half a million dollars or over ₹3 Crores.
As of December 2023, The company is still in business and thriving. They have won several awards and recognitions due to their work and are working with local governments and municipalities to make their tech more accessible.
Source: Solinas Integrity LinkedIn
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