What Happened to Geeani After Shark Tank India?
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
| Prajal | 20% |
| Anitha | 40% |
| Anithas Sons | 40% |
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 1 | Offer 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 Name | Geeani |
| Founders | Prajal Geeta Menon, Divyarajsinh Bihola & Anitha Panikar |
| Asked Amount | ₹75 Lakhs for 7.5% |
| Final Deal | ₹1 Crore for 10% |
| Sharks | Aman Gupta, Anupam Mittal & Vineeta Singh |
| Company Net Worth | ₹10 Crores |
| Company Website | www.instagram.com/geeani_official |
| Company Status | In 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.
