Technology & Electronics
Automated hygiene management system
Season 2 Products
| Brand | PadCare |
| Company name | PadCare Labs Private limited |
| Founders | Ajinkya Dhariya |
| Original ask | 50 lakhs for 2% equity at valuation of 25 crores. |
| Deal | 1 crore at 4% equity at valuation of 25 crores. |
About the product
In India, around 1200 crores sanitary napkins are generated every year, out of which 98% go into landfills & water bodies. In absence of dignified way to dispose sanitary napkins, Padcare was born.
PadCare is an automated hygiene management system that converts soiled sanitary napkins into harmless, recyclable waste. It provides women a means to dispose waste in a dignified manner while also preventing the ragpickers from hazardous material.
They have three products available;
- A decentralised Padcare Bin – It can store hazardous waste for 30 days & can store up to 75 pads. It works on vapor phase technology that ensures safe storage of pads inside female washrooms.
- PadCareX – India’s first 5D technology based patented sanitary napkin disposal & recycling system which helps them claim high quality of wood pulp & plastic which is then recycled.
- PadCare Vend – A decentralised emergency sanitary napkin vending machine which has already been placed in many places around the cities.
Founders & their story
Ajinkya Dhariya, CEO & Founder
Ajinkya is from social & business background. During his visit to inspect a landfill in 2018, he witnessed that ragpickers are segregating diapers & sanitary napkins waste using their bare hands and that’s when he decided to do something for the environment, the ragpickers & women to maintain their hygiene, health & privacy.
About the company
PadCare is a prominent fem-tech platform that assists organisations in achieving sustainable development goals while preserving the health of female personnel. With their innovative menstrual hygiene services, they recycle 1 million sanitary napkins and reduce greenhouse gas emissions by >150 metric tonnes.
PadCare serves over 150 companies in India, including significant clients such as Capegemni, Meta, P&G, Mahindra Group, JSW, State bank of India, IIM Nagindra, Taj, and ICICI Lamboard
It is transforming the hygiene sector with 25 innovators. At present, across 6 cities in India, more than 150 organizations and 1 lakh women are using these products & services. They have installed 4000 PadCare machines till now.
Amount Raised:
- The company was supported by Government grants like TATA trust, Infosys Foundation & has received almost 2.25 crores.
- 75 lakhs in December 2020 at post-money valuation of Rs. 8.75 crores.
Revenue:
80% of the sales are from PadCare Bins & PadcareX & 20% are from PadCare Vend & Recycled Waste sales.
In Pad collection & Recycling services, they generate Gross profit of 68%.
The sales in FY 21-22 were Rs. 1.05 crores and Annual burn is Rs. 5 lakhs. The last month revenue was 14 lakhs.
Founder’s Ask
50 lakhs for 2% equity at valuation of 25 crores.
Offers
- Peyush offered Rs. 1 crore for 4% equity at valuation of 25 crores.
- Anupam offered the same as Peyush
- Namita & Vineeta offered Rs. 25 lakhs at 1% equity (each 0.5%) and 25 lakh debt (Interest Free)
- Anupam then offered the same as the Founder’s ask
- Anupam, Namita, Vineeta jointly offered 75 lakhs for 3% equity (1% each) & they also welcomed Peyush to join
Counter Offer by Founder
1 crore from four sharks (Peyush, Namita, Vineeta, Anupam) at 4% equity (1% for each)
Final Deal
Deal was finalised at 1 crore at 4% equity at valuation of 25 crores.
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