Scrapshala is a startup that makes art products out of waste got featured in Shark Tank India. This article aims at scrapshala, scrapshala Varanasi, Flipkart scrapshala, shark tank India, scrapshala shark tank, and shark tank india scrapshala
Introduction to the Pitch | Scrapshala
|Founders||Madhu Shah and Sakshi Shah|
|Net Worth||Rs27 lakhs|
|Business Category||Best out of waste and Reusing products|
|Funding Asked||Rs50 Lakhs for 10% Equity|
|TV Show||Shark Tank India – Episode 31|
They started their pitch by comparing a normal citizen with an aware citizen. When festivals are near like Diwali at that time people start cleaning their houses in which they throw a lot of unused items in their home. Shikha and Madhu show how a beautiful pen stand can be made from waste newspaper, key holders can be made from broken chains, and beautiful paintings on the base of scrap audio cassettes.
What is Scrapshala? | Shark Tank India
Shikha Shah and Madhu shah are the founders of Scrapshala. They belong to Banaras.
As per data of CPCB (Central Pollution Control Board) in Mumbai every day 7 Lakh KG biodegradable waste is generated and 90% of this same goes to garbage. Scrapshala is a beautiful initiative to reduce this garbage. Their products and services are used for Home decor, Lifestyle, and Gifting.
All products of Scrapshala are made by artists who are residing near Banaras. From Home’s Balcony to a big office 1 Artisan to 15 Artisans and 500+ Product designs 5000+ customers. They have started in 2016 and organized upcycling.
Eco Brick Table and Stool is made from 15KG Single-use plastic. They aim at increasing women’s empowerment by providing them work and promoting the art.
What is their ask for funding from Sharks? | Shark Tank India
Their ask is Rs50 Lakhs for 10% Equity and their company is valued at Rs5 Crores.
QnA | Sharks asking Scrapshala | Shark Tank India
How do they start together?
Madhu’s mother has given her teaching of making beautiful things from old pieces. When she makes something from waste she feels that she has revived the waste material.
She used to share the images of products made by her with Shikha when she was in IIT.
Shikha– She went to the Incubator Cell RTBI of IIT where she was executing one of her ideas. When she came back to her home and then appointed an artist in her balcony. They gave bottles to local restaurants made by them which gave them an initial boost.
What are the sales?
Last year they have clocked sales of Rs27 Lakhs
How do they bring traffic?
At present they have opened an upcycled retail store in Lucknow and the whole of their store is recycled. They have started their e-commerce last year and before that, they were serving on Flipkart.
Even in covid, they were surviving easily without suffering from losses.
Why their name is Scrapshala?
They have kept their name in 2016 and Anupam Mittal pointed this as weakness whereas Namita Thapar said that its a matter of pride.
1:1 | Sharks investing in Scrapshala | Shark Tank India
When you will scale then people will expect good-looking products at a good price and when we recycle a product then cost increases as it takes effort to recycle a product. She does not see this as a scalable business and for this reason, Vineeta is not investing in this.
This is a very good business and tough also. He is feeling bad to say no as He cannot be a part of their journey but wished them all the best for their future.
It seems that this is an artisanal product or boutique product. This can work in exhibitions and it’s not sure that listing these products online will bring sales. This is not an investable business as bringing sales after investing money will be difficult so he is out.
She is observing the products from very time but is not able to attract them. This is why she is out from Busines.
They are not at a stage of getting investment therefore he is out. Anupam wished them all the best for their future.
This was the story of Scrapshala how they pitched in Shark Tank India but were unable to get the investment. You can check out our other writing by visiting here.
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