What Happened to Geeani After Shark Tank India?

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What is Geeani?

In India, there are more than 10 Crore farmers who work in a smaller area of land. Often times they don’t have enough capital to buy a brand-new tractor. That’s why they take tractors on lease and give away 60 ~ 70% of their income to the tractor owners.

To solve this problem, Geeani was formed. It’s a small electric tractor primarily designed for farmers who have small farms.

Who is the Founder of Geeani?

Prajal Geeta Menon, Divyarajsinh Bihola & Anitha Panikar are the founders of Geeani. They are from Ahmedabad.

How much money did they ask for Geeani?

They came to Shark Tank India seeking ₹75 Lakhs for 7.5% equity in the company. Which gives the company a valuation of ₹10 Crores.

Divyarajsinh Bihola is an automobile engineer and Prajal Geeta Menon & Anitha Panikar are teachers.

How much money did they invest in Geeani?

To launch the product initially, they’ve invested ₹25 Lakhs of their own money to do R&D.

It’s a pre-revenue company, but they have 500+ active queries from different farmers across the country. They got a video going viral, and those queries came from that video.

This tractor is quite small in size. The width of the Geeani tractor is only 3 ft. It’s also very light compared to other tractors available in the market. It weighs only 550 kg.

With the Geenie tractor, one will get 3 3-year of battery warranty. Each batter’s life will be around 7 ~ 8 years.

It has drivetrain technology. Which gives the driver a more soothing experience. With less battery power it will give you more mileage. It will be 8 times more efficient than the traditional diesel tractors out there.

As the tractor is small in size, one can do intercropping pretty easily.

The price of this tractor is ₹4.8 Lakhs. The making cost is ₹3.8 Lakhs. But if they can produce this on a mass scale, then the making cost will come down to ₹3 Lakhs.

Equity structure of the company

Anithas Sons40%

Which shark gave Geeani an offer?

Aman Gupta gave the 1st offer. He offered ₹75 Lakhs for 7.5% of the company. Just like they asked.

Anupam Mittal gave an all-shark offer. He offered ₹1 Crore for 10% and all the sharks could join. Vineeta Singh joined in that deal.

Offer 1Offer 2
Amit Jain – ₹1 Crore for 10%Aman Gupta, Anupam Mittal & Vineeta Singh – ₹1 Crore for 10%

But Amit Jain liked the product so much that he gave an individual offer. He offered ₹1.5 Crore for 20% equity in the company.

Namita Thapar was out because she thought this business would require too much capital. She couldn’t help that much to grow the company.

Company NameGeeani
FoundersPrajal Geeta Menon, Divyarajsinh Bihola & Anitha Panikar
Asked Amount₹75 Lakhs for 7.5%
Final Deal₹1 Crore for 10%
SharksAman Gupta, Anupam Mittal & Vineeta Singh
Company Net Worth₹10 Crores
Company Websitewww.instagram.com/geeani_official
Company StatusIn Business

What deal did Geeani get in Shark Tank India?

They took Aman Gupta, Anupam Mittal & Vineeta Singh’s offer.

But Amit Jain was sad. He really wanted to get this deal.

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