New Delhi [India]: Two Indian start-ups — Graviky and Chattar Patar have secured investments worth almost Rs.2 crore in less than 30 minutes.
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, has helped Indore-based Chattar Patar raise funds worth Rs.1 crore from Ameera Shah, Managing Director and CEO – Metropolis Healthcare Limited, Rahul Singh, Founder and CEO, The Beer Cafe, and Devansh Jain, Director – Inox Wind, in return for 26 percent of its equity.
Graviky, a Bangalore-based start-up, on the other hand, has secured Rs.80 lakh in investments from Mohit Goel, CEO – Omaxe Limited, in return for one percent equity and seven percent 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 Vault gives aspiring entrepreneurs from around the country a unique opportunity to pitch their business ideas to a panel of investors on television and persuade them to invest money in their ventures.
The objective of the show is to give television exposure to innovative business ideas, highlighting what goes on behind closed doors during an entrepreneur-investor funding pitch.
Open to emerging start-ups, SMEs, the student community as well as household and rural ventures, The Vault has already facilitated investments worth more than Rs.3 crore for ventures participating in the show in just two episodes. (ANI)