You’re out on the road, and you need to pee. There’s no visible bathroom on the road. Has this ever happened to you? What can you do in a situation like this?
If you’re a guy, you will probably take out a bottle and try to target the small entrance. And chances are it won’t work. Also, the bad odor of the pee won’t go away.
Peeschute is a pocket-sized unisex disposal urine bag. Both genders can use it with ease. You can carry this in your pocket easily. Siddhant Tawarawala has sold more than 200k peeschute bags. These 200k bags were sold in the USA, UK, and Canada. They are now collaborating with the government to implement this on a mass scale.
Siddhant came to Shark Tank India seeking ₹75 Lakhs in exchange for 4% equity in his company. Which gives the company a valuation of ₹18.75 Crores. Siddhant wanted the consumer-facing guidance expertise from a shark. He didn’t just come for the money, he came for the shark’s expertise.
This bag is made of paper. Once you open the unisex funnel, you can pee inside that. The liquid will instantly turn into solid material. Peeschute has a patented composition that makes this solidification happen. It will also give you a refreshing odor.
Peeschute bag comes in 2 formats.
- Peeschute Medi – ₹33
- Peeschute Travel – ₹10
Siddhant wants to install privacy cubicle chambers in areas that have heavy traffic. Like different metros, stations, airports, etc. Each privacy cubicle chamber will cost ₹2500. This chamber can be easily folded & installed. The chambers will be managed by distributors. And the distributors will be the people living around that particular area.
Siddhant wants to scale this with the help of both government and private sector.
Siddhant already took an investment at ₹7.5 Crores pre-money valuation.
|1st Year||₹14 Lakhs|
|2nd Year||₹23 Lakhs|
|3rd Year (Projection)||₹1 Crore|
Ashneer Grover was impressed with the product and the entrepreneur. He gave the 1st offer. The offer was ₹75 Lakhs for 7% of the company.
Namita Thapar was out because she thought the operation cost of the privacy chamber would be too much.
Aman Gupta gave the 2nd offer of ₹75 Lakhs for 10% of the company.
Vineeta Singh & Anupam Mittal gave the 3rd offer of ₹75 Lakhs for 10% of the company.
|Offer 1||Offer 2||Offer 3|
|Ashneer Grover – ₹75 Lakhs for 7%||Aman Gupta – ₹75 Lakhs for 10%||Vineeta Singh & Anupam Mittal – ₹75 Lakhs for 10%|
So, Siddhant now had three offers on the table. Ashneer was giving him the highest valuation. Siddhant gave a counteroffer of ₹75 Lakhs for 6% of the company, but this was only to Aman. Aman agreed. Ashneer was sad. Aman basically snatched the deal from Ashneer.
|Asked Amount||₹75 Lakhs for 4%|
|Final Deal||₹75 Lakhs for 6%|
|Current Net Worth||₹12.5 Crores|
|Company Status||In Business|