- Founder: Ravi Kumar & Disha Katharani
- Business: Toys
- Ask: ₹1.5 Crores for 0.5% Equity
- Valuation/ Networth: ₹300 Crores
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 4 Episode 7
Imagimake Shark Tank India Pitch:
Imagimake is an Indian startup which appeared on Shark Tank India Season 4. The company makes games, puzzles & DIY kits. The company exports worldwide and they have patented products both in the US and India. The founders sought an investment of ₹1.5 Crores for 0.5% equity in the company valuing the brand at ₹300 Crores.
Imagimake started in 2014 and they now sell over 1 Lakh units per month. They are available through online channels like Amazon and over 4,000 offline stores. Imagimake toys teach a unique combination of History, Geography & Culture. Their patented tool facilitates hands-free and mess-free quilling experience.
The company’s entry-level products start at ₹199 and they go up to ₹2,000. Their best-selling puzzle is their India Map which teaches kids about India’s states and geography. The company have total of 120 SKUs. All their products are designed In-house.
The company have 250 workers in their factory where they manufacture their own products. They also have an operations team of 20 people. 40 people are leading their sales and another 40 employees take care of their finance, marketing and product design.
Imagimake’s financials & Revenue during Shark Tank India:
Founders collectively hold 65% equity in the Imagimake. They also have two investors on their Cap table. Their first fundraiser was in 2021 from Roha Investments. The company raised their last round at ₹105 Crore valuation, and they raised a total of ₹20 Crores. They had ₹8 Crores in the bank at the time of their pitch.
Imagimake makes 35% of its revenue from e-commerce exports. 35% comes from domestic e-commerce,12% comes from quick commerce and 18% from general & modern trade. 90% of export revenue comes from the US market.
The company made a revenue of ₹13 Crores with ₹15 Lakh EBITDA in FY20-21, followed by ₹29 Crores with -₹35 Lakhs EBITDA in FY21-22, and ₹40 Crores with -₹90 Lakhs EBITDA in FY22-23. They closed last year with a revenue of ₹56 Crores with -₹30 Lakhs EBITDA, and the company is projecting to close FY24-25 with a revenue of ₹90 Crores. They have already made ₹42.5 Crores till October 2024 with EBITDA of ₹1.2 Crores. They are projecting EBITDA of ₹2.4 Crores this year.
The company had ₹8 Crore worth of inventory in stock with receivable of ₹5.5 Crores and payable of ₹8 Crores. The company have invested ₹4-4.5 Crores in their factory. The founders added that they would need help with the US market due to challenges like high working capital requirements.
Imagimake Shark Tank India Negotiations & Funding:
Aman went out because he felt like the founders didn’t need him. Kunal went out for to same reasons as Aman. Azhar couldn’t see where he would add value therefore he exited the deal as well. Vineeta shared same view but she still wanted to offer out of respect. She offered ₹50 lakhs exchange for 0.5% equity and rest as debt at 10% interest for 3 years.
Ritesh offered ₹1.5 Crores for 1.2% equity, valuing the company at ₹125 Crores. The founders take a moment to think and come back to decline both offers due to their expectations of valuation. Sharks understood and Imagimake left the tank without a deal.
Who are the founders of Imagimake?
Ravi Kumar & Disha Katharani founded Imagimake. They are husband and wife.
How is Imagimake doing after Shark Tank India?
Our research in the Imagimake revealed that while the company did not get a deal on the shark tank, their appearance on the show had a positive impact on the business. Currently, they are experiencing the Shark Tank Effect and we will update their numbers once they become available. You can check out their products by clicking Amazon button below!
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