Chinmay Bidkar
17 October 2016, India :
Two Indian startups secure investments worth almost Rs. 2 crore in less than 30 minutes. Sounds unbelievable, doesn’t it? Astonishing as it might appear, this is exactly what is happening at The Vault, a one-of-its-kind Indian reality show which is providing a unique platform to aspiring entrepreneurs from across the country to fuel their dreams.
Indore-based Chattar Patar managed to raise funds worth Rs. 1 crore from Ameera Shah, Managing Director & CEO – Metropolis Healthcare Limited, Rahul Singh, Founder & CEO, The Beer Cafe, and Devansh Jain, Director – Inox Wind, in return of 26% of its equity.
Graviky, a Bangalore-based start-up, on the other hand, secured Rs. 80 lakh in investments from Mohit Goel, CEO – Omaxe Limited, in return of 1% equity and 7% India-exclusive commission, at an impressive valuation of Rs. 80 crore. Revol Wallet, the third start-up featuring in the episode, rejected the investment offer.
Jatin Goel, Creator, The Vault, said, “India, as a nation, is full of individuals with bright business ideas which can have a great impact on the society and economy as a whole. The Vault was established as a platform to give these would-be entrepreneurs from across the country a chance to give their business dreams a big boost by securing investment and garnering visibility. It is extremely heartening to see start-ups from cities like Indore participating in the show and winning investor confidence. We look forward to work towards our vision of taking entrepreneurship beyond big cities and making it a household concept across the country.”
The latest episode of the show saw two out of three start-ups appearing in it secure funds worth of Rs. 1.8 crore, underlining the difference that The Vault is making to the entrepreneurial landscape in the country. Image-SkillOutlook.com