How is TOHANDS Doing After Shark Tank India?

Founder/Owner: Satyam Sahu, Praveen Mishra & Shanmugam Vadivel S
Business: Smart Calculator
Ask: ₹55 lakhs for 1% Equity
Valuation/ Networth: ₹55 Crores
Funding: ₹60 lakhs for 2% Equity
Sharks: Varun Dua & Radhika Gupta
Episode: Season 3 Episode 25

TOHANDS Shark Tank India Pitch:

TOHANDS is an Indian startup which appeared on Shark Tank India season 3 Episode 25. The founders sought an investment of ₹55 Lakhs for 2% of the company valuing the business at ₹55 Crores. TOHANDS created the world’s first smart calculator which comes with Cash In and Cash Out buttons that can record transactions for businesses. Also, The company shared that they are already working on their next version, which would help record item-wise inventory as well. All transaction data is recorded, saved, and synced with their TOHANDS APP. Moreover, The founders shared that 80% of shopkeepers do not have billing machines, and their calculator supplies shopkeepers with an affordable and simple solution as an alternative.

TOHANDS records 80,000 transactions per month from about 1000 shopkeepers. The founders added that the majority of them are in Tier 1 cities in Maharashtra. Also, Their lifetime revenue is at ₹29 Lakhs, and they started selling their product in January 2023. The calculator retails for ₹3000 and costs about ₹2,200 to manufacture. They also charge a subscription fee on their app software. They currently have a waiting list of 5,600 customers as they ran out of their inventory in November 2023.

TOHANDS Financials & Revenue during Shark Tank India:

TOHANDS raised their first investment round in 2022 where they raised ₹55 lakhs. They have also just closed another round where they raised ₹3 Crores at ₹29 Crores valuation. Praveen has 37% of the company at the time of their pitch, notably he is also the CEO of TOHANDS. Satyam owns 23%, and Shanmugam has another 13% equity. Also, They have an ESOP pool of 8% equity, and 19% is with investors.

TOHANDS founders shared that their product has gone viral multiple times. The first time it happened due to India Times article, which also brought in tons of sales. Following this, a YouTuber also featured their product in his video, which also brought some business. Further, The company wants to deploy over a million units of their products in the market in the next 2-3 years.

TOHANDS Shark Tank India Negotiations & Funding:

Varun Dua was the first shark to make an offer. He offered ₹30 Lakhs of equity for 1% of the business and ₹25 lakhs debt at 12% on a 2-year term valuing the company at ₹30 Crores. Radhika also made the same offer as Varun, but Varun suggested that they should split it so she joined his deal.

Vineeta asked founders if they need support on partnership side or the Branding to which they responded that partnerships would be more useful. Therefore, She goes out after hearing that as the company had an offer from the sharks which could support them better in what they were looking for. Aman also went out because he felt like the company already had a good offer on the table.

Anupam also comes in with an offer of ₹55 lakhs for 1.5% of the company valuing the business at ₹36.67 Crores. The founders responded to Radhika & Varun that they would not take debt at this stage. Anupam revised his offer to ₹60 lakhs for 2%. Radhika & Varun matched that offer. The company countered that with ₹80 Lakhs for 2% to all interested sharks. Anupam goes out, citing that that is not a fair valuation to ask at this stage. The founders accepted Radhika and Varun’s offer after some suggestions from the sharks. The final offer they accepted was ₹60 Lakhs for 2% of the company valuing the business at ₹30 Crores.

Who are the founders of TOHANDS?

Satyam Sahu, Praveen Mishra & Shanmugam Vadivel S founded TOHANDS. They are all based in Bangalore. Praveen has done schooling from Partapgarh in Uttar Pradesh, and he dropped out of college to work on another startup before this venture. Shanmuga went to Kongu Engineering college in Erode. Satyam has done engineering from RajKiya engineering college.