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Carragreen is the 6th Startup of Shark Tank India going to be featured on Under20s. This startup aims at environment cleaning and they are providing a substitute to plastic boxes which arrive with our food through Zomato and Swiggy.
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Introduction to the pitch | Shark Tank India
Carragreen in SHark Tank India
This pitch is presented to sharks by Chetna Shah of 55 Years and Surbhi shah. They belong to the cleanest city of India Indore. Whenever we order food online and we receive it in plastic boxes. The major point in this is we are not only intaking plastics but microplastics too. By consuming Micro Plastic we are inviting diseases like cancer. Every year, we are depositing 200 million tonnes of plastic spoons, plates, and containers. But we have a solution to this problem- Carrabox.
What is Carrabox by | Carragreen?
Carrabox- IN Carragreen three mantras reuse, reduce and recycle are applied then the team found a solution in the box. The team has given a demo of a magical box to sharks in which that disposable box turns to the plate and then gives you all the required utensils to enjoy your meal. It’s their dream that Carrabox is used for every food delivery.
What is their ask from Sharks?
To fulfill the dream Carragreen is asking Rs 50 Lakhs for 10 % equity.
Aman Gupta ( Co-Founder of Boat) “You know what i am looking interesting is that till now, we have seen mothers-in-law are fighting with their daughters. Today after seeing you I am feeling very happy and You are going to inspire India.
QnA | Sharks asks Founders | Shark Tank India
How did Carragreen Start?
Every one of you reading this article might remember your childhood train journeys. Our mothers used to pack food for the journey. If she forgot to pack spoons then we used to fold a cardboard piece to use as a spoon. This is the basic concept from where this startup has got its idea.
What are positions of responsibility in Carragreen?
Surbhi is an engineer by profession and she worked in her family business as an intern for 2 years. There she helped to set a printing unit where she observed that a lot of cardboard is wasted and sent for recycling. Chetna belongs to a bakery background so she knew how attractive boxes should be.
Who is the CEO of Carragreen?
Surbhi started this business two years ago. She got selected in IIM Bangalore as one of the top hundred women entrepreneurs. There she submitted ten ideas and this one got finalized.
How did Carragreen get initial funding?
They have received a grant of Rs 8 Lakh from IIM Bangalore. She invested whole that money in a startup.
What are the cost price and selling prices of Boxes?
Cost price is 11.5Rs and the selling price is 15Rs.
How many clients do Carragreen have and how much they have sold?
They have 5 big customers of which Haldirams is one of their biggest customers. Bhel and soanpapdi of Haldiram contain spoons of Carragreen. Now moving towards the next big client in Balaji Snacks. So overall they sell 4 to 5 lakh spoons monthly. Through this, they clock Rs 80,000 to Rs 90,000.
How do you land Haldiram as a Client?
It was not easy to land haldiram as their client. They went to their restaurants first. They tried their food with their own spoons and then they mailed haldiram. Luckily plastic got banned the same year. Haldiram loved the idea.
Will Carragreen tie-up with Zomato and Swiggy?
They are in try to do that as the process is going. They have mailed them and suggested they include the feature of doing send with carobox.
Funding Session | Sharks vs Carragreen | Shark Tank India
Ashneer Grover exited himself because he is not able to see the scalability in this business.
Namita Thapar cannot relate to this product much so she is out for this reason.
Aman Gupta liked their concept very much and said that If you get the patent then you may go globally too, There is nothing in which he can add value to this so he is out
Where does the deal gets finalized?
Anupam and Peyush together made them an offer of Rs 50 lakhs for equity of 25% In Counteroffer, Carragreen offered them a stake of 12% at the same stake.
Anupam reduced to 20% stake and here the deal gets finalized.
You can visit the official handle of the carragreen at here.
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