Image Credits: Shark Tank India
Last updated on 27 February 2023. Find everything about GrowiT India’s pitch on Shark Tank India, its founders, and the latest updates about the company!
GrowiT on Shark Tank India
Two 3rd generations wanted to help the farmers with their family business, that’s the story of GrowiT.
Here are the key details about their pitch on Shark Tank:
| Name | GROWiT India |
| Founder | Saurabh Aggarwal, Akshay Aggarwal |
| Episode | Season 02 Episode 40 |
| Ask | ₹1 Crore for 1% Equity |
| Deal | ₹50 Lakhs for 1% Equity + Debt |
| Sharks | Namita Thapar, Peyush Bansal |
| Status | In-business |
GrowiT offers protective farming products such as plastic mulch film, shade nets, crop/fruit covers, sticky traps, lay flat tubes, hole punching machines, and agri-wires for Indian farmers.
They showed a case study with Mulching film and how it helps prevents soil moisture and the growth of weeds. Here is this Mulching Film to get from Amazon (*Affiliate Link):
Or buy it by clicking here: https://amzn.to/3ZthB5L
*Affiliate Link means that we get a certain percentage from the sale when you purchase through our link.
India is an agriculture-dominant society but our yield is still lower than first-world countries. The entrepreneurs want to change that. But they need ₹1 crore for just 1% part of their company.
Till the pitch, they have serviced more than 15,000 farmers in 4 states. The FY2021-22 sales were ₹20 crores but still not profitable.
Namita was the first shark to get enthusiastic about these products because it ultimately in better farming and more profits for our food givers. She was also the first to invest, valuing it at ₹50 crores, like their last round.
Peyush saw an issue with the plastic ban but the pitchers explained that they also do buybacks to recycle it. Still, the future was not quick since the profit margin is very very low, and no secret technology that saves them. So, Aman, Amit and Anupam went out.
Only Peyush saw the opportunity and he wanted to set a big vision. So, he joined hands with Namita.
Watch a small teaser of the pitch here:
GrowiT India closed the deal on Shark Tank with Namita Thapar and Peyush Bansal for ₹50 lakhs for 1% equity and the rest half in debt.
About The Founders
Saurabh Aggarwal and Akshay Aggarwal are the co-founders of GrowiT India. The startup is part of Alpha Plastomers Private Limited and is located in Surat, Gujarat.
Saurabh is the CEO, who worked with his grandfather’s Alpha Plastomers for about 14 years before starting GrowiT. He studied BBA from Cardiff University & MBA from SPJIMR. He is also a seed investor in Navitas Alpha Renewables.
His brother Akshay is a Master in Plastic Engineering from the University of Massachusetts at Lowell. After working in the US for 1 year, he moved back to his family business. Currently, he is the Technical Director at GrowiT.
After Shark Tank Updates
Saurabh was happy with this deal and thanked all his friends on Linkedin.
In February 2023, GrowiT partnered with Jai Kisan neo bank to empower farmers financially. This tie-up can help farmers to get the products easily with instant loans.
By the way, other businesses featured in this episode were the HOOD and Twisting Scoops.
At last, check their official company product pitch: “At GROWiT our promise is to inspire more resilient communities by connecting the larger agriculture ecosystem, optimizing the agriculture value chain, and making it more robust. We manufacture advanced and innovative products that ensure optimum quality and yield for the Indian Agricultural & Farming Industry while lowering its carbon footprint. With GROWiT as your end-to-end solution provider, we will ensure that you have maximum productivity, the highest quality, and minimum wastage.”
Takeaways
So now you know about GrowiT’s full pitch on the show and how the journey is going on for them.
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also a fan of Shark Tank India.