Home, Garden & Tools
Geeani
SEASON 2 : EPISODE 24
BRAND
Geeani
COMPANY NAME
GeeaniAgritech Private Limited
FOUNDERS
Divyarajsingh Bihola, Prajal Geeta Menon, Anitha Panikar
ORIGNAL ASK
Rs. 75 lakhs against 7.5% equity at valuation of 10 crores
DEAL
Rs. 1 crore against 10% equity at valuation of 10 crores
Farmers of India hire tractors at very high prices for farming & 60% of their earnings are spent on tractor hiring costs. So, designed for Indian farmers with small farms, ‘GEEANI’ makes the smallest & economical tractor in the nation.
Geeani has been specially designed for Indian farmers having small farms. With a compact and lightweight tractor weighing only 550 kg, the crops won’t be damaged due to its use & it can easily be used for intercropping.
The tractor’s width is only 3 feet, battery life is 7 – 8 years with 3 years of battery warranty. It is a low maintenance product with extended life.
Founders & Their Story
- DivyarajsinghBihola, an Automobile Engineer
- Prajal Geeta Menon
- AnithaPanikar, a teacher
Anitha is a mother figure to Prajal and they both are into teaching while Divyaraj is a childhood friend of Prajal. Prajal dropped out of Engineering college & he made wheelless generator & scooter out of his passion.
Anitha’s family supported him for his innovations such asGeeani which is for the benefits of small-scale farmers.
About The Company
The company is yet to launch commercially but they have patented drivetrain technology. They have already received many inquiries about the tractor & people are offering advance to buy Geeani.
Founder claims that a diesel tractor consumes fuel worth Rs. 150 to 200 in an hour whereas Geeani would run for 6 to 8 hours in Rs. 100 which is almost 6-8 times more efficient than the traditional tractor. Beta testing for the Geeani has already been done.
Revenues
No revenue generated till date as it is yet to be launched. However, the making cost of Geeani is Rs. 3.8 lakhs&founders have invested Rs. 25 lakhs till date.
Founder’s Ask
Rs. 75 lakhs against 7.5% equity at valuation of 10 crores.
Offers
- Aman offered the same as the ask which is Rs. 75 lakhs against 7.5% equity at valuation of 10 crores.
- Anupam’s offer was Rs. 1 crore against 10% equity at valuation of 10 crores. He offered this on behalf of Aman, Vineeta& himself
- Amit’s solo offer was Rs. 1.5 crore against 20% equity at valuation of 7.5 crores which he later revised to Rs. 1 crore against 10% equity at valuation of 10 crores
Final Deal
Founder accepted Aman, Vineeta& Anupam’s offer i.e., Rs. 1 crore against 10% equity at valuation of 10 crores.
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