What Happened to Funngro After Shark Tank India?
What is Funngro?
Funngro is a platform that enables teenagers to earn money. The target age group is 14 to 20. They will get different earning opportunities based on their skills.
Real companies will provide the projects to these teenagers. The platform also provides an atm card called Funngro card.
Who is the Founder of Funngro?
Anik Jain and Payal Jain are the founders of Funngro. They are from Mumbai.
Funngro Before Shark Tank India?
They started the company back in 2021. Funngro has 40,000 users on its platform. It has 170+ registered companies. Till now, Funngro has completed 90 projects. The average project value is ₹2000.
| Total Users | 40,000 |
| Total Companies | 170 |
| Total Projects Done | 90 |
How much money did they ask for on the pitch?
They came to Shark Tank India seeking ₹50 Lakhs for 1.25% equity in the company. Which gives the company a valuation of ₹40 Crores.
How much money did they raise for Funngro?
They raised ₹25 Lakhs CCD.
How to use Funngro?
After creating an account, one can select his skills. After that, he can browse all the available projects on the platform. One can select a project and apply.
The company will select the candidate. After getting the project, once the work is completed, the payment will be shown in the wallet.
All the projects are curated before going live on the platform. The model is very similar to UpWork and Freelancer website.
Mainly 3 types of companies are providing projects in Funngro. These are, Digital marketing companies, EdTech & Gaming companies, and B2C companies.
What are the Monthly Sales of Funngro?
Funngro takes 10% of every project. Their monthly expense is ₹2.5 Lakhs and monthly sales are ₹1.5 Lakhs.
Which shark gave Funngro an offer?
Anupam Mittal was out. It’s a pre-revenue company. And for a pre-revenue company, ₹40 Crores valuation is insane according to Anupam Mittal. That’s why he didn’t give any offer.
Peyush Bansal was out. It was not an investable business for him at the moment.
Aman Gupta was out. He didn’t align with the business ethically. That’s why he was out.
Namita Thapar & Amit Jain gave a combined offer. They offered ₹25 Lakhs for 10% & ₹25 Lakhs debt.
They revised the offer to ₹50 Lakhs for 4.16%.
| Offer 1 |
| Namita Thapar & Amit Jain – ₹25 Lakhs for 10% & ₹25 Lakhs debt |
| Revised Offer – ₹50 Lakhs for 4.16% |
What deal did Funngro get in Shark Tank India?
Funngro got a deal from Namita Thapar & Amit Jain. The deal was ₹50 Lakhs for 4.16%.
| Company Name | Funngro |
| Founder | Anik Jain and Payal Jain |
| Asked Amount | ₹50 Lakhs for 1.25% |
| Final Deal | ₹50 Lakhs for 4.16% |
| Sharks | Namita Thapar & Amit Jain |
| Company Net Worth | ₹12 Crores |
| Company Website | www.funngro.com |
| Company Status | In Business |
What is the net worth of Funngro?
After the Shark Tank India deal, the net worth of Funngro is ₹12 Crores.
Is Funngro still in Business?
Yes, Funngro is still in the business.
