Shark Tank Solinas
| Company name | Solinas |
| Founders | Bhavesh Narayani, Divanshu Kumar, Moinak Banerjee, Linda Jasline |
| Ask | ₹90 lakhs for 2% equity |
Solinas Founders
The founders hail from Chennai.
Divanshu Kumar is from Gaya, Bihar. He is graduated in Chemical engineering from IIT Bombay.
Bhavesh lives in Gwalior. He was thrown out from school at a young age. He got into IIT Bombay. There he met with Divanshu. He is the co-founder.
Moinak Banerjee lives in Durgapur, West Bengal. He did his B.Tech degree in mechanical engineering from SRM university, Chennai.
Linda Jasline lives in Chennai, Tamil Nadu. She also did her B.Tech in mechanical engineering from SRM University, Chennai. She is in R&D department and general management of the company.
About the company Solinas
Manual cleaning of septic tanks is a very risky job as it can lead to the death of people. In 4 years in India, around 330 people die due to the poisonous gas produced from the waste in the septic tank. Though the Indian government has issued a law of the manual cleaning of septic tanks, manual cleaning has been fully illegal in some places to date. In order to solve this problem they have introduced the brand Solinas. Solinas integrity is an end-to-end sanitation asset management company that checks and cleans critical public assets like pipelines, manholes, etc. Their first product is HomoSEP; a septic tank cleaning robot that is used to clean the tank without manually going into the tank. Their second product is Endobot; a sewer and water pipeline inspection robot that makes the process of inspection easy and simple. They launched their products in the year 2020. They have a range of three products: two hardware and one software. HomoSEP is such a machine that cleans the septic tank with its modern features. Endobot helps in examining the inside of 9cm to 90 cm pipelines. It collects all the necessary details inside the pipelines. It can detect leakage, and blockage inside the pipeline. They have two granted patents for HomoSEP and two are yet to be granted.
Ask by the Owners Solinas
The pitchers asked for ₹90 lakhs in exchange for 2% equity at the valuation of 45 crores.
Solinas Sales And Revenue
Divanshu holds 32% of the equity. Bhavesh holds 8.5%, Moinak holds 5.5%, and Linda holds 2.5% of the equity. Nonexecutives hold 20% and Investors hold 31.5% of the total equity. They have raised 4.2 cr. rupees with a post-money valuation of 26 crores rupees. The cost of HomoSEP is around 15 lakhs – 25 lakhs rupees with all its accessories. The business model of EndoBot is service based. In FY21-22 the sales was 1.2 cr. rupees. This FY22-23 the ARR is around 5 cr. rupees. Sales split will be like; Rs.3 cr. from HomoSEP product sales and 2 cr. will be from Endobot robot service. Their gross margin for product sales is around 60%. The gross margin for service will be 55-60%.
Offers and counter offers
Amit and Namita together offer 52 lakhs for 2% equity & 38 lakhs at 10% interest.
Peyush and Anupam together offers 90 lakhs for 3.35% equity.
Solina’s counter offer 66 lakhs for 2% equity and 24 lakhs debt.
Peyush and Anupam counter offer 90 lakhs for 3% equity.
Solinas Final deal
The deal is finalized with Anupam and Peyush for 90 lakh rupees in exchange of 3% equity.