- Entrepreneurs: Rebekah Sood and Ariella Blank
- Business: Products for visually impaired people
- Ask: ₹75 lakhs for 1% equity
- Valuation: ₹75 Crore
- Result: No Deal
- Sharks: No Deal
- Episode: Season 1 Episode 7
Torch it Shark Tank India Pitch
In the realm of innovative startups, one pitch on Shark Tank India managed to leave a lasting impression that transcended the television screen. Torchit, a remarkable startup, took center stage with a product designed to make a profound impact on the lives of visually impaired individuals.
Torchit, founded by Hunny Bhagchandani, an engineer and social entrepreneur, introduced a device that serves as a guiding light for the visually impaired. The device assists individuals in navigating their surroundings, helping them avoid obstacles and ensuring safer mobility.
Hunny Bhagchandani’s motivation for creating Torchit was driven by the desire to address the daily challenges faced by visually impaired individuals. His innovative solution, presented on Shark Tank India Season 1 Episode 7, aimed to make a substantial difference in their lives.
During his compelling pitch to the panel of investors, or ‘sharks,’ including Anupam Mittal, Namita Thapar, Aman Gupta, Ashneer Grover, and Peyush Bansal, Bhagchandani requested Rs 75 lakh for just a 1% equity stake in his company, valuing Torchit at an impressive Rs 75 crore.
To demonstrate the effectiveness of his device, Hunny Bhagchandani voluntarily blindfolded himself and confidently navigated the stage, showcasing the unique and patented nature of Torchit. His product has also garnered recognition through multiple awards.
Torchit Shark Tank Negotiations:
Despite the intrigue generated by Torchit’s groundbreaking product, the sharks had their reservations during the negotiations. Questions surrounding valuation, scalability, product differentiation, and market size arose as the investors assessed the potential of the startup.
Peyush Bansal made an offer that appeared enticing. He proposed Rs 50 lakh for a 2.5% equity stake in Torchit, along with an additional Rs 25 lakh as a loan with a 0% interest rate. Bansal acknowledged the worthiness of the product but expressed concerns about the initial valuation, which he considered high.
However, Hunny Bhagchandani, steadfast in his belief in Torchit’s potential and valuation, decided to decline Peyush Bansal’s offer. The entrepreneur walked away from the negotiation table without a deal, determined to forge Torchit’s path independently.
How Is Torchit Doing After Shark Tank?
So, what has transpired in the world of Torchit since that fateful appearance on Shark Tank India?
Remarkably, Torchit secured funding from an angel investor who recognized the incredible potential of the startup. This substantial investment of Rs 75 lakh provided the necessary resources to fuel its growth and make a more significant impact on the lives of visually impaired individuals.
Torchit’s commitment to its mission has led to partnerships with several non-governmental organizations (NGOs) and government agencies. These collaborations have facilitated the distribution of Torchit devices to those in need, amplifying the startup’s social impact. Moreover, Torchit’s dedication and innovative approach have earned it recognition and awards from various national and international platforms, further solidifying its position as a force for good in the world of accessibility and technology.
You can check Torchit Products by clicking the Amazon button below!
Image source: Torchit Instagram
Here are other companies from Shark Tank Season 1 Episode 7.
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