Medulance and Cakelicious Secure Deals, Toyshine’s Valuation Shocks the Sharks, and Bowled.io Needs More Work!
Medulance Bags a 3-Shark Deal for 2% Equity
Medulance, founded by Ravjot and Prana in 2017, is revolutionizing emergency services in India by offering ambulance services that average a 20-minute response time. With three subscription services—Medu ERS, MeduClinic, and MeduAlert—they have saved over 8 lakh lives and attended to over 2 lakh COVID-19 patients. Medulance is currently bootstrapped, with ₹24 crore in sales in FY21-22 and a projected ₹40 crore for the current fiscal year. Seeking ₹2 crore for 1% equity at a ₹200 crore valuation, they ultimately secured a deal with Sharks Aman, Namita, and Peyush for ₹2 crore in exchange for 2% equity at a ₹100 crore valuation.
Toyshine Seeks ₹1.25 Crore for 0.5% Equity
Rohit Khanna, the founder of Toyshine, turned his family business into an online e-commerce platform in 2018, specializing in toys for preschoolers and toddlers. With over 2000 varieties of toys, 85% of which are made in India, Toyshine generated ₹45 crore in sales in FY21-22, with a 15% profit margin. Rohit sought ₹1.25 crore for 0.5% equity at a ₹250 crore valuation but left the tank without securing a deal.
Cakelicious Seals a Deal with Shark Amit
Home bakers turned entrepreneurs, Duriya and Fatema Barodawala, launched Cakelicious in 2020, offering innovative cake tubs in 30 flavors. With 2 cloud kitchens, 1 retail store, and over 2 lakh customers served, Cakelicious generated ₹3 lakh in sales last month. Seeking ₹25 lakh for 5% equity at a ₹5 crore valuation, they secured a deal with Shark Amit for ₹25 lakh in exchange for 20% equity.
Bowled.io: A Sports Gaming Platform Needs Refinement
Bowled.io, founded by Rahul and Akshay, is a sports-based social gaming platform that has hosted over 3 lakh games in just three weeks. The platform features three key components: Arena, Live Cricket Lounge, and Marketplace, where users can buy or sell digital assets (NFTs). Despite raising ₹1.2 crore in lifetime sales and previously securing an angel round worth ₹2.5 crore, the founders sought ₹80 lakh for 1% equity at an ₹80 crore valuation. However, the Sharks felt the platform needed further development, and Bowled.io left without a deal.