How is Dharaksha Ecosolutions Doing After Shark Tank?

Founder/Owner: Anand Bodh & Arpit Dhupar
Business: Bio-Tech
Ask: ₹1,250 for 1% Equity
Valuation/ Networth: ₹1.25 Lakhs
Funding: ₹1,250 for 1% Equity
Sharks: Vineeta Singh, Aman Gupta, Anupam Mittal, Ritesh Agarwal & Peyush Bansal
Episode: Season 3 Episode 39

Dharaksha Ecosolutions Shark Tank India Pitch:

Dharaksha Ecosolutions is an R&D-driven biotech company that focuses on creating alternative sustainable materials. They appeared on Episode 39 of Shark Tank India Season 3. The founders shared that their products are direct alternatives to thermocol, which is a petroleum-driven product and takes 2000 years to degrade. The founders’ vision is to create a sustainable future with clean air and clean water. They sought an investment of ₹1,250 for 1% of the company, valuing the business at ₹1.25 lakhs. They added that they would also need 100 hours from a shark to help grow this business.

Dharaksha Ecosolutions’s Financials during Shark Tank India:

Dharaksha Ecosolutions shared that while their alternative product is currently 2-3X more expensive than thermocol, with automation, they would be able to bring the pricing down to a competitive level. They also added that their products can reduce the box size by 15-20%. Moreover, Their current capacity is 20,000 units, which would bring in projected revenue of ₹5 lakhs. They have pending orders of ₹5-10 lakhs.

Dharaksha Ecosolutions raised their first funding round in January 2022. They raised a total of ₹4 Crores at a ₹22 Crore valuation. Currently, founders are raising a second funding round, which they are hoping to close at ₹100 Crores valuation. Founders are also taking a debt of ₹2 Crores for machine automation. Additionally, They still have a runway of 6-8 Months.

Dharaksha Ecosolutions burns ₹12-14 Lakhs per month just on salaries. At the time of their pitch, They had 40 people in their team. Their current total burn is ₹15 Lakhs per month after all expenses. They do, however, have a Letter of Intent from companies worth around ₹2 Crores. They are hoping to bring the cost at the same level as Thermocol in the next 3-4 years with margins of 30-40% on EBITDA level.

Dharaksha Ecosolutions came to the tank for support with 3 things from the sharks. First was the Market access and networking, Secondly, They wanted help with Technology and Automation and lastly, they wanted to create a proper Moat strategy with the help of Sharks.

Dharaksha Ecosolutions Shark Tank India Negotiations & Funding:

Anupam proposed that all Sharks come together in this deal to offer a dream deal of exactly what the founders asked for but with conditions. First condition was that the claims of LOI and debt need to be verified and secondly, Sharks will get a 20% discount on the valuation of the next investment round. The founders accepted that without any hesitation.

Who is the founder of Dharaksha Ecosolutions?

Anand Bodh & Arpit Dhupar founded Dharaksha Ecosolutions. Arpit graduated in Mechanical engineering in 2014 and He went to IIT Delhi for masters. They have known each other for 12 years.