- Founders: Pratik Terodkar & Ashish Patil
- Business: Robotics and Automation Solutions
- Ask: ₹50 lakhs for 4% equity
- Valuation: ₹12.5 Cr
- Result: ₹25 lakhs for 25% equity and ₹25 lakhs debt
- Sharks: Peyush Bansal
- Episode: Season 1 Episode 15
Shark Tank India Pitch:
In the fast-evolving landscape of technology and innovation, PNT Robotics emerged as a promising startup dedicated to the development of cutting-edge automation and robotics products. Founded by Pratik Tirodkar and Ashish Patil, two dynamic individuals aged 24, PNT Robotics represents a fusion of instrumentation engineering and artificial intelligence expertise. The co-founders embarked on their entrepreneurial journey with a vision to harness the power of machine learning and AI to revolutionize the robotics industry.
PNT Robotics made a memorable appearance on Season 1, Episode 14 of Shark Tank India, where they pitched their startup to five seasoned investors or ‘sharks’: Anupam Mittal, Namita Thapar, Aman Gupta, Ashneer Grover, and Peyush Bansal. Their pitch was audacious, as they requested Rs 50 lakh in exchange for a modest 4% equity stake in their company, valuing it at a substantial Rs 12.5 crore.
Introducing ADO: The AI Robot
One of the highlights of PNT Robotics’ pitch was the demonstration of their star product, ‘ADO,’ an AI-powered robot with the remarkable ability to detect different languages and recognize individuals who interact with it. ADO boasts a screen attachment, opening up diverse applications in various industries. Hospitals can employ it to assist patients, malls can utilize it for engaging advertisements and increased sales, while airports can rely on it to bridge language barriers efficiently.
Beyond ADO, PNT Robotics unveiled their innovative prototype robots designed for use in hospitals. These robots are capable of delivering medication to patients and performing sanitation processes. Alongside their product offerings, the co-founders disclosed their active involvement in educating young minds about robotics and the intricacies of robot manufacturing. They have been successful in selling both robots and robotic arms.
Shark Tank Negotiations:
The sharks on Shark Tank India were captivated by the uniqueness of PNT Robotics’ offerings and praised the co-founders for their vision, passion, and execution. During the negotiations, they probed the entrepreneurs about their marketing strategy, target audience, product differentiation, and scalability.
Anupam Mittal expressed reservations about their business strategy and chose to step aside from the deal. Namita Thapar, although intrigued, felt that she lacked the necessary experience in the domain and opted out. Aman Gupta showed interest but sought more significant traction. Ashneer Grover, while interested, did not actively participate in the deal-making process.
The co-founders of PNT Robotics engaged in negotiations with Peyush Bansal, who ultimately made an offer of Rs 50 lakh for a 25% equity stake. Interestingly, he proposed providing Rs 25 lakh upfront and the remaining Rs 25 lakh as a loan. While acknowledging the appeal of their product, Bansal felt that the initial valuation was on the higher side. In response, the co-founders counteroffered with Rs 50 lakh for a 20% equity stake, considering the terms of the loan. Ultimately, Peyush Bansal agreed to this counteroffer and closed the deal, marking a significant milestone in PNT Robotics’ journey.
How Is PNT Robotics Doing After Shark Tank?
Following their appearance on Shark Tank India, PNT Robotics has continued to thrive and innovate in the field of automation and artificial intelligence. The startup has achieved notable success, securing funding, expanding its product portfolio, and fostering a strong online presence.PNT Robotics received a significant boost from their appearance on the show, securing an additional investment of Rs 50 lakh for a 20% equity stake from Peyush Bansal, CEO of Lenskart.
Building on the foundation of ADO, PNT Robotics has expanded its product range, catering to various industries. Their innovative robots have found applications in hospitals, malls, airports, and more, showcasing the versatility and adaptability of their solutions.
As of 2023, PNT Robotics boasts a net worth of approximately Rs 1 crore, reflecting their growing impact and financial stability. Co-founders Pratik Tirodkar and Ashish Patil each have a net worth of Rs 75 lakh, underscoring their entrepreneurial success.
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How do you like Ado and what would it be like to interact with it in different places? Please comment below.
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