What Happened to GridMats After Shark Tank India?
What is GridMats?
GridMats are mainly road mats. It’s made with 100% recycled plastic waste. With GridMats, no one has to break the bank. It’s maintenance-free and comes with 25% less cost.
The design of GridMats is inspired by honeycombs. It’s really sustainable to use this product.
Roads can be one of three types. Bitumen, concrete & pavers. Each road comes with its own unique problems. Bitumen roads need to be repaired very frequently. Concrete roads are really expensive. The problem with pavers is, they come with high maintenance.
As GridMats doesn’t use any steel inside, the road cost automatically reduces drastically. Also, the honeycomb design helps in distributing the loads equally.
Normal roads have a thickness of 400 ~ 450 mm. But roads with GridMats have only a thickness of 200 ~ 250 mm.
People can use GridMats and make roads, footpaths & warehouse flooring.
People can rent roads from PotHoleRaja. Suppose someone wants a road for a month. He can have that road for a month and after the usage, he can return the blocks to PotHoleRaja.
Who is the Founder of GridMats?
Saurabh Kumar & Dr. Pratap B are the founders of GridMats. It’s basically the product name. The company name is PotHoleRaja.
They want to make GridMats India’s 1st rental road platform. They want to make GridMats a global brand. They have been in the business for the last 6 years.
Equity split of GridMats
| Dr. Pratap | 52% |
| Sourabh | 10% |
| Dr. Pratap’s wife | 15% |
| Dr. Kalpana | 10% |
| ESOPS | 10% |
| Brigade REAP | 3% |
GridMats Before Shark Tank India?
PotHoleRaja has filled over 35,000 potholes in 30 cities. They have a design & process patent on GridMats.
How much money did they ask for on the pitch?
They came to Shark Tank India seeking ₹5 Crores for 2% equity in their company PotHoleRaja. Which gives the company a valuation of ₹250 Crores.
What are the Annual Sales of GridMats?
| Fiscal Year | Annual Sales |
| 2021 – 2022 | ₹10 Crores |
| 2022 – 2023 | ₹4.5 ~ ₹5 Crores |
| 2023 – 2024 | ₹5 ~ ₹6 Crores Projected |
Which shark gave GridMats an offer?
Aman Gupta was out. He didn’t like the valuation the founders wanted for their company. He thought the valuation was too high according to their yearly sales.
Namita Thapar was out. She couldn’t justify the valuation either. She had no confidence that the company could reach certain sales they were hoping to achieve.
Vineeta Singh was out.
Peyush Bansal was out. He was out because he couldn’t help them grow the business.
Anupam Mittal was out.
What deal did GridMats get in Shark Tank India?
GridMats didn’t get any deal in Shark Tank India.
| Company Name | GridMats |
| Founders | Saurabh Kumar & Dr. Pratap B |
| Asked Amount | ₹5 Crores for 2% |
| Final Deal | No Deal |
| Shark | No Shark |
| Company Net Worth | ₹250 Crores |
| Company Website | www.potholeraja.com |
| Company Status | In Business |
What is the net worth of GridMats?
According to the founders, the net worth of GridMats is ₹250 Crores. Which the sharks didn’t like at all.
Is GridMats still in Business?
Yes, GridMats AKA PotHoleRaja is still in the road-making business.
