- Founder: Mayur Kakasahib Chandgude, Mayur Prithviraj Rajput, Sachin Vasant Kadam, and Akshay Pradip Langore
- Business: Paints
- Ask: ₹3 Crores for 5% Equity
- Valuation/ Networth: ₹60 Crores
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 4 Episode 18
Midas Paints Shark Tank India Pitch:
Midas Paint is an Indian startup which appeared on Shark Tank India Season 4. The brand makes eco-friendly paints from Cow’s Dung. they have over 15,000 colour options. The founders sought an investment of ₹3 Crores in exchange for 5% equity in the company valuing the business at ₹60 Crores.
Midas Paint is 20% more affordable than other paints in the market. The company have sold over 3 lakh kilo paints in 3 years. The company have been in business since 2021. The founders shared that using cow dung as wall coating makes the place anti-fungal & anti-bacterial. It also reflects radiation. All their paints are water-based. They have also applied for patent for this product.
Midas Paint’s Financials & Revenue Shark Tank India:
Midas Paint generates its sales leads through social media marketing. The company made a revenue of ₹15 lakhs in FY21-22, followed by ₹45 Lakhs in 22-23, and they made ₹75 lakhs in their last full financial year. Midas paint has made ₹60 Lakhs of revenue till October 2024 for FY24-25 and they are projecting to close the year with revenue of ₹5 Crores as they already had purchase orders for ₹2 Crores.
Midas Paint sells for ₹225 per litre, and for unit economics, ₹112.5 goes to distribution margin, ₹38 is COGS, Overheads are at around ₹9.4, ₹23 goes to packaging, leaving them with an EBITDA of ₹41 which is about 18%. Their net profits come to ₹25-30. The company is projecting an EBITDA of ₹1 Crore for FY24-25.
Midas Paints Shark Tank India Negotiations & Funding:
Anupam could not understand the valuation therefore, he went out of the deal. Namita had issues with scaling and due to this, she went out as well. Kunal didn’t see a big difference against the competition therefore he went out as well. Ritesh went out due to not having clarity in the numbers.
Aman suggested the founders to bring in another person who understands business but as for investment, he decided not to invest. Midas Paints walked out of tank without a deal.
Who are the founders of Midas Paint?
Mayur Kakasahib Chandgude, Mayur Prithviraj Rajput, Sachin Vasant Kadam, and Akshay Pradip Langore founded Midas Paint. All the founders have side businesses as well. Mayur Rajput has 55% equity in the company and rest of the co-founders has 15% each.
How is Midas Paint doing after Shark Tank India?
Our research in the Midas Paint revealed that while they did not get a deal on Shark Tank India, their appearance on the show had a positive impact on the business. You can check out their products by clicking the Amazon button below!
Thank you for supporting the blog, as we make small commissions on purchases through the above link.
Do you know, which Shark Tank India companies are already out of business after their appearance on the Show? click the button below to find out!