Technology & Electronics
Tea Glass washing Machine
Season 2 Products
| Brand | Mahantam Tea Glass Washing Machine |
| Company Name | Mahantam |
| Founders | Dhaval Prakashbhai Nai, Jayesh Prakashbhai Nai |
| Original Ask | Rs. 30 lakhs for 10% equity at the valuation of Rs. 3 crores |
| Deal | Rs. 30 lakhs for 20% equity at the valuation of Rs. 1.5 crores |
About the Product
The Mahantam Tea Glass Washing Machine is an automatic glass washer that cleans glasses more thoroughly and hygienically than hand washing. It has just been launched and is priced at around INR 28,500.
The machine can wash 15 tea glasses in just 30 seconds using high-pressure water. It has a capacity of 38 litres of water – which can help wash 250 glasses. This makes it a cost-effective choice for organisations seeking to boost their cleaning efficiency.
The product’s USP is compact size with simple design.
Founders & their story
Dhaval Prakashbhai Nai
Jayesh Prakashbhai Nai
Jayesh always wanted to start his business and on the other hand, while obtaining his education, Dhaval had the notion to design a machine to wash roadside tea shop glasses.
During to the Covid lockout, he learned machine design theory on YouTube in six months and started working in a hardware shop. There he made 4 machines but all of which failed. His lecturer gave him 10,000 to create the machine again.
After his friend posted a YouTube video of the machine, he received queries and gave away the first unit. Dhaval submitted his prototype to other academics to raise 1 lakh for product development. That’s how he started & made three sales.
About the company:
Mahantam is an early-stage company with an innovative solution for the hospitality industry that offers numerous benefits over manual washing. Its ability to provide a thorough and hygienic cleaning process, reduce cleaning time and resources, and enhance safety make it an ideal choice for businesses looking to improve their cleaning efficiency and provide their customers with clean and hygienic glassware.
The founders claim that the size of the machine can also be adjusted to account for smaller tea stalls or compact areas and they have already received many inquiries from various vendors. The company’s target market is vendors who already have a setup to heat tea, provision for lighting a bulb.
Revenue:
They have sold three machines till now in Karnataka, Tamil Nādu, & Maharashtra.
First machine they sold in Rs. 20,000 had only internal washing and other two sold at Rs. 28,000 has internal & external washing both.
The making cost of machine is Rs. 19,000 so the margin is 32%. They are projecting to sell at least 50 machines this year.
Founder’s Ask
Rs. 30 lakhs for 10% equity at the valuation of Rs. 3 crores.
Offers:
Anupam offered Rs. 30 lakhs for 20% equity at the valuation of Rs. 1.5 crores.
All five sharks (Aman, Anupam, Peyush, Namita & Vineeta) jointly offered Rs. 30 lakhs for 20% equity at the valuation of Rs. 1.5 crores.
Final Deal
Rs. 30 lakhs for 20% equity at the valuation of Rs. 1.5 crores.