Two Indian startups, Graviky and Chatar Patar, have secured investments worth almost Rs. 2 crore. The investment was secured through The Vault, a one-of-its-kind Indian reality show which is aims to provide a platform to aspiring entrepreneurs to fuel their dreams.
The first episode of the Shark Tank-esque reality TV show saw two out of three startups participating in it secure funds worth Rs. 1.8 crore. While Graviky and Chatar Patar accepted the investment offers, Revol Wallet, the third start-up featuring in the episode, rejected the offer.
Indore-based Chatar Patar managed to raise funds worth Rs. 1 crore from Ameera Shah, Managing Director & CEO of Metropolis Healthcare Limited; Rahul Singh, Founder & CEO of Beer Cafe; and Devansh Jain, Director of Inox Wind, in return of 26% of its equity.
On the other hand, Graviky, a Bangalore-based start-up, secured Rs. 80 lakh in investments from Mohit Goel, CEO of Omaxe Limited, in return of 1% equity and 7% India-exclusive commission, at an impressive valuation of Rs. 80 crore.
Commenting on the successful completion of its first episode, Jatin Goel, creator of The Vault, said,
India, as a nation, is full of individuals with bright business ideas which can have a great impact on the society and economy as a whole. The Vault was established as a platform to give these would-be entrepreneurs from across the country a chance to give their business dreams a big boost by securing investment and garnering visibility.
It is extremely heartening to see start-ups from cities like Indore participating in the show and winning investor confidence. We look forward to work towards our vision of taking entrepreneurship beyond big cities and making it a household concept across the country.
Chatar Patar is a company started by two ex-Infosys employees – Aarti Sirsat and Prashant Kulkarni. The team believes in standardization, customization and consistency of the concept, system and taste. They are aiming to make the street food universal with it’s authentic taste and uniqueness.
Graviky Labs, which was incorporated this year, hopes to reinterpret environmental conservation by fusing science and arts. The company has started a pilot project in collaboration with Tiger beer in Hong Kong. It saw seven Hong Kong-based artists covering the walls of the city with Air-Ink.
The startup is currently offering three products – Kaalink, Air Ink and Jackboy. Kaalink is a unit that traps pollutants exiting a car’s exhaust pipe which is them re-purposed and made into ink. Air Ink, is an ink made out of air pollution, whereas Jackboy is a platform to connect multiple sensors to your smart phone in a seamless and wireless manner.