PadCare Labs Raised $1.43M, Got $130K On Shark Tank India Now Has 61 Employees

PadCareLabs is a company that offers solutions for recycling and properly disposing of used sanitary pads and other menstrual hygiene products. They have developed a product called the PadCare Bin, which is an automated system designed to handle the disposal of these items. PadCareLabs operates in the B2B and social impact sectors, specializing in environmental technology solutions and services. It is focused on using technology to create positive change and address environmental concerns. PadCare Labs has created a “menstrual hygiene management” system that focuses on recycling used sanitary napkins. They handle the entire process, from collecting the used pads to processing them. The company’s goal is to eliminate the use of plastic in sanitary pads, as these pads can take 600-800 years to decompose. PadCare Labs transforms the plastic in the pads into small pellets, called granules, and then reuses them to make their own collection bins.

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Ajinkya Dhariya is the Founder and CEO of PadCare Labs, a company he started in 2018. He is a Mechanical Engineer and a Sanitation Entrepreneur. 1 After graduating in 2017, he started PadCare Labs with the goal of creating a more sustainable society by improving hygiene standards. Ajinkya is a product strategist who enjoys solving consumer-focused problems using a design thinking approach. He is described as both curious and courageous. His curiosity drives him to explore new paths and develop innovative solutions, like those for the disposal and recycling of sanitary napkins. Ajinkya’s efforts have been recognized by various organizations, such as WIPO, TBC, WSSCC, Unltd India, Dassault, the UK Royal Engineering Academy, and the Government of India. 1 He is also acting as a young ambassador to inspire social actions for a healthier community.

• Padcare Labs has received several awards and recognition, including the FICCI-ISC Award 2020, Forbes 30 under 30, and the Toilet Board Coalition 2019.
• The company has also been acknowledged by the Government of India, World Intellectual Property Organisation, Dassault, UnLTD India, and WSSCC.

On the TV show Shark Tank India, PadCare Labs secured a deal where they received INR 1 Crore (equivalent to approximately $130,000 USD) in exchange for 4% of the company’s equity. The investors who provided this funding were Namita Thapar, Peyush Bansal, Vineeta Singh, and Anupam Mittal. After appearing on the TV show, PadCare Labs reported sales of INR 1.05 Crores (approximately $135,000 USD) in the fiscal year 2022. This indicates that the company has experienced significant growth and success since securing the investment deal.

Padcare Labs  is a company that has raised a total of $1.43 million in funding over 5 rounds so far. The company’s first funding round was on July 24, 2018. Its latest funding round was a Seed round on February 9, 2023, where it raised $605,000. This latest Seed round was led by the investor group Social Alpha, and also included Lavni Ventures and 3 other investors. Prior to this latest round, Padcare Labs  had also raised $122,000 in an Angel round on February 3, 2023, with investors like Peyush Bansal, Anupam Mittal, and 2 others.

Padcare Labs  has 14 institutional investors, which are larger organizations that invest in companies. The largest of these institutional investors is a company called Social Alpha. In addition to the 14 institutional investors, Padcare Labs  also has 6 individual angel investors, including a person named Peyush Bansal. So in summary, Padcare Labs  has a mix of institutional investors as well as individual angel investors who have provided funding to support the company’s operations and growth.

According to the latest information, Padcare Labs  has grown significantly in the past year. As of March 2024, the company has 61 employees, which is a 577.8% increase from March 2023. This means the company has more than quadrupled its workforce in the past year, indicating rapid growth and expansion.

• Padcare Labs , recently raised funding from Social Alpha, Lavni Ventures, 3i Partners, and others.
• Padcare Labs raised funding from Venture Center in December 2020, supporting startups.

The founders of Padcare Labs  hold the majority of the company’s shares, accounting for 62.03% of the total ownership. This means the founders own the largest portion of the company. In addition to the founders, there are several other types of shareholders:

• Funds hold 25.47% of the shares
• Enterprises hold 2.43% of the shares
• Other individuals (not founders) hold 0.63% of the shares
• Angels (early-stage investors) hold 0.36% of the shares