Raasa Shark Tank Pitch:
Raasa, a startup dedicated to reshaping India’s street food landscape, addresses the unregulated street food vendor scenario by introducing a transformative model. Their innovation targets the largely untapped street food market in India, seeking to revolutionize an industry that has remained unchanged for decades. The startup’s groundbreaking concept aims to revolutionize food delivery by ensuring cleanliness and safety standards in the street food sector, potentially altering the industry landscape.
Raasa solves five major problems for street vendors. Firstly, They give them a branding and unique ID numbers. Secondly, They help with procuring FSSAI Licence. Thirdly, They onboard the vendors on Zomato & Swiggy. In addition to that they also provide them groceries at reasonable prices and give them Training. They have 20 Kart partners and made ₹40,000 in revenue in August 2022.
Raasa Shark Tank Negotiations & Funding:
Namita goes out given that its too early for her. Peyush also goes out for same reasons. Aman follows other sharks and goes out of the negotiations as well. Amit had concerns about how they would deal with regulations.
Anupam Mittal, said that this fits his T-Model of investment. which was Total addressable market, Timing, Tax & Regulations, Take rate and Traction. He adds that this company checks some of those T’s but he was impressed with the vision. He puts a condition that Manik would need to bring a Tech Co-founder who would get the equal amount of equity. With that, He offers ₹50 lakh for 25% of the company and added that this would be a non-negotiable offer. Manik takes a moment to think and comes back to accept that deal.
Who is the founder of Raasa?
Manik Sehgal Founded Raasa. He is born and bought up in Delhi. He has done MBA and has spent 15 years in advertisement. Manik also has a co-founder, Vikash Sharma who is running Knowledge Process Outsourcing. Each of them have equal equity split.
How is Raasa doing after Shark Tank India?
Our research in the company revealed that their Shark Tank India deal with Anupam Mittal did indeed close after the show aired. Manik Sehgal shared on a Podcast Adorn Talks that, Anytime Anupam Mittal does a deal, He always writes something on the back of the cheque. He added that his cheque had a comment “Lets Make an Impact” on it. He added that after the show aired, He got countless calls from all kinds of people. There were people who wanted to invest with him, People who wanted to help him out and People who wanted to understand his idea in detail.
Source: Manik Sehgal LinkedIn
Here are other companies from Season 2 Episode 18.
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