What Happened to Mahantam After Shark Tank India?
Tea is a very popular drink all over the world. India is no different. If you go to any corner of any road, you’ll find at least one tea stall. And people are vibing in that tea stall.
Managing a tea stall is tough, on top of that keeping all the cups clean is super tough. Typically there are only a limited cups in each stall. So, one has to wash these cups over and over again in order to serve the customers.
What is Mahantam?
To solve this washing problem, Mahantam was born. It offers a glass cleaning machine. It’s small and compact and it can wash 12 ~ 15 glasses together in 30 seconds. It has a 12-voltage battery.
The target market of Mahantam
- Tea stall owners who have a shop
- Tea stall owners who want to save some time
- Tea stall owners who want to maintain hygiene
- Tea stall owners who want to show off a bit
Who is the Founder of Mahantam?
Dhaval Prakashbhai Nai & Jayesh Prakashbhai Nai are the founders of Mahantam. They are brothers.
How much money did they ask for Mahantam?
They came to Shark Tank India seeking ₹30 Lakhs for 10% of the company. Which gives the company a valuation of ₹3 Crores.
With the shark money, they want to sell 50 machines in 1 year. With the money they want to register their company, buy some basic tools & do some R&D.
How much money did they raise for Mahantam?
Mahantam previously got a grant from Dream Deal. It’s an initiative by Anupam Mittal, where it offers grants to small startup founders without taking any equity.
Jayesh wanted to do business for a long time, at the same time Dhaval was making teacup washing machines on the side. They both got together and started Mahantam.
Mahantam Before Shark Tank India?
But the starting of Mahantam wasn’t easy. Dhaval used to drink tea beside his college. He found out the cups were washed in an unhygienic way. He wanted to do something about this problem.
He learned some basic design skills from YouTube. Later he worked in a workshop and used to build machines in his own free time. After making many failed attempts, he made a working prototype. The final machine was successfully cleaning the teacups.
He made a video showcasing the machine and put it on YouTube. The video got many views and he got his 1st order. He sold his 1st machine without taking any money because it was his very 1st order.
Dhaval went to multiple colleges and talked with higher authorities. He collected ₹1 Lakh and made 5 machines. He sold 3 of them with the help of his brother.
To run the machine, one needs to use 38 Liter of water. With 1 container of water, the machine can wash 250 glasses.
Price of Mahantam
The making price of the machine is ₹28,000. The selling price of the machine is ₹19,000. The margin is 32%.
Which shark gave Mahantam an offer?
| Offer 1 |
| Namita Thapar, Vineeta Singh, Anupam Mittal, Aman Gupta & Peyush Bansal – ₹30 Lakhs for 20% |
All the sharks were interested in the business. They offered ₹30 Lakhs for 20%. Which gives the company a valuation of ₹1.5 Crores.
| Company Name | Mahantam |
| Founder | Dhaval Prakashbhai Nai & Jayesh Prakashbhai Nai |
| Asked Amount | ₹30 Lakhs for 10% |
| Final Deal | ₹30 Lakhs for 20% |
| Sharks | Namita Thapar, Vineeta Singh, Anupam Mittal, Aman Gupta & Peyush Bansal |
| Company Net Worth | ₹1.5 Crores |
| Company Website | mahantam.co.in |
| Company Status | In Business |
What deal did Mahantam get in Shark Tank India?
The brothers took the offer. It was an all-shark deal. Which happens very often in Shark Tank India.
