Shark Tank India: This startup gets blank cheque offer as revenue soars 10 times in 15 months, resulted in clash between judges

In an episode of Shark Tank India, judges found themselves in a bidding war over Padcare, a startup revolutionising sanitary pad disposal. Piyush Bansal's unprecedented blank cheque offer stunned viewers as revenue surged tenfold within just 15 months.

Namita Thapar, an enthusiastic supporter of Padcare, shared the remarkable progress on her Instagram account. The startup's founder, Ajinkya Dhariya, garnered significant attention from the moment he entered the Shark Tank. Judges were eager to invest, leading to a heated exchange among them. Bansal's offer of a blank cheque for Padcare's visionary approach left the panel awestruck.

Record revenue growth

Thapar revealed on Instagram that Padcare's annual revenue soared from Rs 1 crore to an astounding Rs 10 crore within 15 months, marking a remarkable growth trajectory. Even more impressively, the company secured orders worth Rs 22 crore for the upcoming fiscal year, showcasing its robust market demand and profitability.

Judges' acclaim and unprecedented offers

Judges unanimously praised Dhariya's entrepreneurial spirit, with Aman Gupta likening him to the "Padman of 2022." Vinita applauded his disruptive impact, remarking on his ability to captivate investors despite his youth.

During negotiations, Dhariya initially sought Rs 50 lakh for a 2% equity stake at a Rs 25 crore valuation. Bansal, however, surpassed expectations by offering up to Rs 1 crore for a 4% equity share, extending a blank cheque as a testament to his confidence in Padcare's potential.

4 Shark deal secured

After intense deliberations, Dhariya clinched a landmark deal with four sharks. Anupam Mittal offered Rs 1 crore for a 4% stake, supplemented by an additional Rs 50 lakh for 2% equity. Vinita and Namita collaborated, offering Rs 25 lakh for a 1% stake and extending a Rs 25 lakh interest-free loan. Gupta, while impressed, opted out of the investment opportunity.

Pad disposal solution

Padcare offers a unique service for sanitary pad disposal, installing specialised bins in corporate restrooms for direct collection. The startup employs advanced technology to process used pads, separating pulp and plastic for industrial reuse. The judges commended Padcare's innovative approach and its potential for widespread impact.

Forbes recognition

Dhariya's groundbreaking work earned him a coveted spot on Forbes India's 30 Under 30 list in the Clean Energy & Climate Change category. His invention of the world's first sanitary pad recycling technology solidified Padcare's position as an industry trailblazer.

Padcare's remarkable journey on Shark Tank India highlights the transformative potential of innovative startups and the invaluable role of visionary entrepreneurs in driving positive change.