Home, Garden & Tools
Tractors
Season 2 Products
| Brand | Geeani |
| Company name | Geeani Agritech Private Limited |
| Founders | Divyarajsingh Bihola, Prajal Geeta Menon, Anitha Panikar |
Original ask | Rs. 75 lakhs against 7.5% equity at valuation of 10 crores |
| Deal | Rs. 1 crore against 10% equity at valuation of 10 crores |
About the product
Farmers of India hire tractors at very high prices for farming & 60% of their earnings are spent on tractor hiring costs. So, designed for Indian farmers with small farms, ‘GEEANI’ makes the smallest & economical tractor in the nation.
Geeani has been specially designed for Indian farmers having small farms. With a compact and lightweight tractor weighing only 550 kg, the crops won’t be damaged due to its use & it can easily be used for intercropping.
The tractor’s width is only 3 feet, battery life is 7 – 8 years with 3 years of battery warranty. It is a low maintenance product with extended life.
Founders & their story
- Divyarajsingh Bihola, an Automobile Engineer
- Prajal Geeta Menon
- Anitha Panikar, a teacher
Anitha is a mother figure to Prajal and they both are into teaching while Divyaraj is a childhood friend of Prajal. Prajal dropped out of Engineering college & he made wheelless generator & scooter out of his passion.
Anitha’s family supported him for his innovations such as Geeani which is for the benefits of small-scale farmers.
About the company
The company is yet to launch commercially but they have patented drivetrain technology. They have already received many inquiries about the tractor & people are offering advance to buy Geeani.
Founder claims that a diesel tractor consumes fuel worth Rs. 150 to 200 in an hour whereas Geeani would run for 6 to 8 hours in Rs. 100 which is almost 6-8 times more efficient than the traditional tractor. Beta testing for the Geeani has already been done.
Revenue/Investment:
No revenue generated till date as it is yet to be launched. However, the making cost of Geeani is Rs. 3.8 lakhs & founders have invested Rs. 25 lakhs till date.
Founder’s Ask
Rs. 75 lakhs against 7.5% equity at valuation of 10 crores.
Offers
- Aman offered the same as the ask which is Rs. 75 lakhs against 7.5% equity at valuation of 10 crores.
- Anupam’s offer was Rs. 1 crore against 10% equity at valuation of 10 crores. He offered this on behalf of Aman, Vineeta & himself.
- Amit’s solo offer was Rs. 1.5 crore against 20% equity at valuation of 7.5 crores which he later revised to Rs. 1 crore against 10% equity at valuation of 10 crores.
Final Deal
Founder accepted Aman, Vineeta & Anupam’s offer i.e., Rs. 1 crore against 10% equity at valuation of 10 crores
