Category: Technology & Electronics
- Sports & Outdoors/ Technology & Electronics Endobot
- Season 2 Products
| Brand | Solinas |
| Company Name | Solinas Integrity Private Limited |
Founders | Bhavesh Narayani, Divanshu Kumar, Moinak Banerjee and Linda Jasline |
| Original Ask | 90 Lakh for 2% equity at valuation of 45 Crores |
| Deal | 90 lakhs for 3% equity at valuation of 30 Crores |
Solinas
Manaual sewer cleaning is not only illegal but highly dangerous because of toxic gases released in the septic tank,despite this due to lack of economical and efficient machinery India is still resorting to manual cleaning of septic tank.
Solinas products –
- HomeSEP Septic tank cleaning robot
It has distinct advantages not only economically but also it can remove hard sludge and the deepest of sludge can be mixed because of their innovative developed foldable and multiple blade system
2) Endobot- Used for sewer and water line inspection
This is a robot which comes for small,mid and large size and in can get inside pipelines from 9-90 cm of both water and sewer and collect data
Founders & their story
Bhavesh Narayani, Divanshu Kumar, Moinak Banerjee and Linda Jasline
Divanshu – Mechanical Engineering from IIT Madras
Bhavesh -Masters from IIT Madras
Moinak- Mechanical Engineering from SRM University, Chennai
Linda- Mechanical Engineering from SRM University, Chennai
They saw the problems and health issues faced by Sanitation workers and wanted to make a difference.
About the company:
Solinas is a water sanitation and asset management company that takes cares of public pipelines, septic tanks.
There robot inspects sewers and pipelines with 10 times more speed and efficiency. Their motto is to solve water and Sanitation problems in in India and make the cities smart. They have filed four design patents of which two are granted.
HomeSEP Septic tank cleaning robot
Endobot: Sewer & Water pipeline inspection robot
Revenue:
Each machine costs 15-25 Lah including accessories.Their sales in FY 21-22 were 1.2 crores and their sales in FY 22-23 was 5 crores Annual run rate.
The Endobot made 2 crores out of the 5 crore while that from HomeSEP made 3 crores. Gross margin =60%.
More about the Company
Founder’s Ask
90 Lakh for 2% equity at valuation of 45 Crores. They had raised 4.2 Cror in seed round for post money valuation of 26 Crores
Offers:
Amit & Namita offered 52 Lakh for 2% Equity and 38 Lak debt at 10% interest for valuation of 26.9 Crores.
Anupam & Peyush’s offer was 90 lakhs for 3.34% equity for 26.9 Crores valuation.
Solinas counteroffer was 66 lakhs for 2% equity & rupees 24 lakhs debt at valuation of 33 Crores
Final Deal
Anupam and Peyush’s revised offer were 90 lakhs for 3% equity at which deal was taken.
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