INR 50 lakhs were raised for SoulUp by Shark Tank 2.0

SoulUp

Three points you will get to know in this article:

  • SoulUp: Emotional support platform for facing challenges.
  • Punita Mittal and Mahak Maheshwari from Bangalore with mental health and diverse backgrounds.
  • Namita invested ₹50 lakhs for 5% of SoulUp, valuing the startup at ₹10 crore after negotiations in Shark Tank.

Shark Tank India Featured SoulUp

SoulUp

SoulUp is a platform dedicated to improving emotional well-being by providing connections and support through peer conversations and support groups. The platform offers the opportunity to engage in meaningful interactions with peers who have firsthand experience dealing with similar life challenges. SoulUp emphasizes the importance of learning from others’ journeys and fostering a supportive environment for individuals facing various emotional struggles. Through 1-on-1 peer conversations and support groups led by experts, SoulUp aims to provide a confidential and safe space for individuals seeking assistance and guidance. The platform’s approach is centered around connecting individuals with others who have overcome similar challenges, promoting shared learning and support.

Click here to visite official website: SoulUp

Punita Mittal and Mahak Maheshwari : Founder Of SoulUp

Punita Mittal and Mahak Maheshwari are both from Bangalore. Punita has worked in mental health for ten years. She used to be the Head of Research and AI at a company called Healthify for 4.5 years. She studied at a famous college called Delhi IIT.

Mahak is also smart – he went to IIT in Bombay. He has experience working in different places like a consulting company, a snacks brand, and a company that helps women with mental health.

SoulUp Statistics

They have two ways of making money:

  • For a one-on-one chat, it costs 99 rupees.
  • For a group chat session, they spend 500 rupees on each user.

When someone uses their services, the broker gets 50% of the money. The company started in 2022 and you can only access their services through their website, which has 9 main categories to choose from. They support 21 different languages. So far, they have had 700 sessions with people. If you want to join a 45-minute video chat, it costs 99 rupees. Around 200 people have signed up with them to use their services.

In What ways do SoulUp Solve Problems?

Soul Up Business has come up with a new way to help solve the problems that are coming up in our lives nowadays. Many online platforms are being created where people can connect, but the key to success is having a positive environment and process. SoulUp is an online tool designed to create a big global network. It helps users find others who are going through similar experiences and connect with them for conversations either one-on-one or in groups. It’s like a virtual community where people can support each other.

Shark Tank India Pitches and Deals of SoulUp

Initially, Namita invested in SoulUp by giving them ₹50 lakhs in exchange for 5% of the company. Then the founders of SoulUp asked for ₹50 lakhs in exchange for 3% of the company. Anupam and Vineeta and Namita offered the same amount of money, but they wanted a bigger share in the company – 20%. However, Namita later changed her offer to give ₹25 lakhs for 10% of the company and also loaned ₹25 lakhs to the startup. Aman and Amit then offered ₹50 lakhs for 15% of the company, valuing SoulUp at ₹3.33 crore. But Namita and Anupam and Vineeta revised their offers too. Finally, the business pitchers, including Namita, settled on a deal where Namita gave ₹50 lakhs for 5% of the company, valuing the startup at ₹10 crore. This deal was finalized between SoulUp and Namita.

Shark Tank India showcases a dynamic platform where aspiring business owners pitch their concepts to influential investors, hoping to gain the support and resources needed to scale their enterprises.

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