Jan 11, 2022

Shark Tank India: Panipat-based tech start-up gets Rs 1 crore investment - here's what they do

On Shark Tank India, a two-year-old start-up from Panipat received a whopping Rs 1 crore as investment from the founder of BoAt, Aman Gupta. Here's all you need to know about them.

Shark Tank India, an Indian adaption of the globally renowned business reality show of the same name, has been receiving a positive response from the audience. The revolutionary show not only fulfils the dreams of budding entrepreneurs in India but also inspires the youth to work on their dream businesses. Shark Tank India, which highlights 'Badalte Bharat Ki Nayi Soch', has seen several entrepreneurs win golden opportunities. From the first episode's Momo Mami to the latest Bamboo India, many innovative businesses have received great deals on the show. But recently, a Panipat-based tech start-up stole the show.

The start-up named Hammer got a whopping investment of Rs 1 crore from the founder of BoAt, Shark Aman Gupta. Wondering what motivated Shark Aman to invest in the brand? Here's all you need to know...

Founded by Rohit Nandwani, Hammer makes high-quality audio gadgets, fitness bands and electric toothbrushes. The two-year-old start-up is listed on Flipkart and has served over 1.5 lakh customers since 2019. They sell these wearables accessories and audio gadgets at a smart price, which makes them an affordable brand.

Initially, Aman had offered to buy the whole company and left everyone stunned, including Sharks Peeyush Bansal, Namita Thapar, Ashneer Grover and Anupam Mittal. Later, they closed the deal at 40% equity for Rs 1 crore.

Talking about his experience on Shark Tank India, the founder of Hammer said, “Digitization has created a huge opportunity across the world especially when it comes to wireless and wearable tech market; and we wanted to tap into this enormous opportunity as there is a huge scope in it. We started in 2019 as a brand that made audio devices like earphones, headphones, home audio devices and then we streamlined into other options as well like smart watches and phones. Our specialty is that we are a completely made-in-India brand with our manufacturing unit set up here offering viable products for the consumers."

"E-commerce platforms like Flipkart, a thriving homegrown marketplace, gives access to businesses like ours to reach out millions of potential customers across India at a ‘click’. I would personally like to thank Shark Tank India and Sony Entertainment Television for believing in our dream and giving us such an innovative investor like Aman Gupta, who himself is a stalwart when it comes to tech entrepreneurship in India. With him on board, we are sure to achieve global success all the while reaching new heights of success in India," he added.

Source:- https://www.zoomtventertainment.com/telly-talk/shark-tank-india-panipat-based-tech-start-up-gets-rs-1-crore-investment-heres-what-they-do-article-88832201