Geeani Agritech ₹75 Lakhs for 7.5% Equity Win on Shark Tank India

Geeani Agritech

Three points you will get to know in this article:

  • Geeani Agritech makes low-cost e-tractors for small farmers, producing 100/month.
  • Aman, Anupam, Vineeta, Amit, and Namita offered funding in Shark Tank, leading to a three-shark deal.
  • The founders of Geeani Agritech are with teaching backgrounds, Divyaraj an engineer with industry experience.

Shark Tank India Featured Geeani

Geeani

Geeani Agritech, a small tractor company, introduced an innovative compact tractor tailored for small-scale farmers. Established in 2022, the company focuses on crafting affordable electronic tractors suitable for farmers with limited land. The entrepreneurs sought an investment of Rs. 75 lakhs in exchange for 7.5% equity. Their tractor, designed for Indian farmers and intercropping, is only 3 feet long. They have obtained a patent for their drive train technology. Although a pre-revenue company, the founders reported over 500 inquiries.

Click here to visit their official website: Geeani Agritech

The tractor is advertised to be 8 times more efficient than diesel-powered tractors, and they offer a 3-year battery warranty with claims of a 7-8 year battery life. Priced at ₹3.8 lakh, the cost reduces to ₹3 lakh for a 100-unit order. With a current capacity of 100 units per month and a total investment of ₹25 lakh, the company aims to provide cost-efficient solutions to make farming more accessible.

Founder oF Geeani Agritech: Divyarajsinh Bihola

Divyarajsinh Bihola, Prajal Geeta Menon, and Anitha Panikar teamed up to establish Geeani Agritech. Anita and Prajal come from teaching backgrounds. Anita hails from Kerala but is now settled in Ahmedabad due to marriage. Divyaraj, an automobile engineer, boasts two years of industry experience under his belt.

Geeani Shark Tank Negotiations and Funding

During the negotiation, Aman expressed his lack of industry expertise but promised to support the founders when needed. He offered them the requested amount of ₹75 lakh for 7.5% of the company, presenting a tempting deal. Anupam suggested a joint offer with all the sharks pitching in ₹1 crore for a 10% stake in the company. Vineeta and Aman agreed to Anupam’s proposal. In contrast, Amit preferred to invest individually, offering ₹1.5 crore for a 20% share. Namita decided to step out, deeming the business capital-intensive. After a brief pause, the company countered by inviting Amit to join the collective deal at ₹1 crore for 10%. The sharks initially declined, but Amit persisted with the same offer, opting to go solo. Ultimately, the founders opted to partner with the three sharks, sealing the deal with a handshake.

Geeani Agritech After Shark Tank India

Our investigation into the company’s situation has shown that it is unclear whether their deal with the sharks was finalized. From the information available online, it appears that the deal did not go through after the show. Subsequently, Geeani Agritech managed to secure another investment of ₹1 Crore through a platform named Tyke. They excitedly disclosed that it took them just 13 days to meet their target fund of ₹1 Crore. Despite this financial boost, the founders faced challenges in bringing their tractor to the market. As of November 2023, there have been no updates in the past 6 months, implying that the company may have closed down.

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