What Happened to PadCare After Shark Tank India?
Woman spend a significant amount of time in their life in period. During that time, each individual consumes more than 7500+ sanitary napkins. Now imagine this number in billions.
It takes 500+ years to dispose of one sanitary napkin. That means, the very first produced sanitary napkin still exists somewhere on earth even today.
That’s a lot of sanitary napkins but there are no specific places to recycle them. We need to recycle them properly. In India, there are 1,200 Crore sanitary napkins used every year.
And you know the worst part of it?
98% of these sanitary napkins go into landfills and water bodies. Which is continuously making the environment around us more polluted.
Who is the Founder of PadCare?
To provide a solution to this problem, PadCare was born. Ajinkya Dhariya is the founder of PadCare. This provides a menstrual hygiene management ecosystem.
How much money did he ask for PadCare?
Ajinkya came to Shark Tank India seeking ₹50 Lakhs for 2% equity in the company. Which gives the company a valuation of ₹25 Crores.
Ajinkya comes from a business background. He previously worked as an R&D Engineer. While he was working on this project, his entire family was very supportive. All the design, R&D & trial of PadCare products are done by Ajinkya and his team. Only the manufacturing is outsourced.
How much money did he raise for PadCare?
To launch PadCare, Ajinkya got support from Tata Trust, Infosys Foundation, and the Indian government. The Indian government gave him ₹2.25 Crores grant.
Later he raised ₹75 Lakhs on ₹8.75 Crores valuation.
PadCare is available in 6 cities. More than 150 organization is using this. More than 100,000 women are getting benefits from PadCare.
PadCare has 3 products.
- PadCare Bin: This recycle bin is a decentralized disposable bin. It can store hazardous waste like sanitary napkins. It can store waste for 30 days. Meaning you can just install the product, and collect the waste material every 30 days. This won’t cause any bad smell. PadCare has an environmental, health, and safety team that collects this waste once every 30 days.
- PadCareX: This is a sanitary napkin recycling & disposal system. It has 5D technology built into it. PadCare has a patent for this product. People can recycle diapers in this also. It won’t burn the waste rather it will use standard temperature and pressure to process the waste. After processing it will create wood pulp and plastic. It can process 300 kg per day which equivalates to 15,000 pads per day.
- PadCare Vend: This is a vending machine for sanitary pads. This can be installed in busy institutes and corporations. Women can easily get their necessary pads from the vending machine.
If I split the sales of the company, PadCare mainly makes money in 2 ways. Their annual burn is ₹5 Lakhs.
- PadCare Bins & PadCareX services
- PadCare Vend & recycled waste sales
What are the Annual Sales of PadCare?
| Fiscal Year | Annual Sales |
| 2021 – 2022 | ₹1.05 Crores |
Unit Economics of PadCare
Pad Collection & Recycling Service
| Revenue | ₹475 |
| Cost | ₹152 |
| Profit | ₹323 |
Which shark gave PadCare an offer?
Peyush Bansal gave the 1st offer. He offered ₹1 Crore for 4%. He gave Ajinkya the exact same valuation he asked for. Not only that he gave him an open offer, which was never offered in the history of Shark Tank India history before. He offered him any amount of money at his desired valuation.
Anupam Mittal gave the 2nd offer. He offered him ₹1 Crore for 4%. The same offer as Peyush.
| Offer 1 | Offer 2 | Offer 3 |
| Peyush Bansal – ₹1 Crore for 4% | Anupam Mittal – ₹1 Crore for 4% | Namita Thapar & Vineeta Singh – ₹25 Lakhs for 1%. & ₹25 Lakhs debt at 0% interest |
Namita Thapar & Vineeta Singh offered them ₹25 Lakhs for 1%. And ₹25 Lakhs debt at 0% interest.
Aman Gupta was out because there were already 3 offers on the table.
| Company Name | PadCare |
| Founder | Ajinkya Dhariya |
| Asked Amount | ₹50 Lakhs for 2% |
| Final Deal | ₹1 Crore for 4% |
| Sharks | Peyush Bansal, Namita Thapar, Vineeta Singh & Anupam Mittal |
| Company Net Worth | ₹25 Crores |
| Company Website | www.padcarelabs.com |
| Company Status | In Business |
What deal did PadCare get in Shark Tank India?
The deal was closed at ₹1 Crore for 4%. Peyush Bansal, Namita Thapar, Vineeta Singh & Anupam Mittal all got 1% individually.
