(Shark Tank Season 1 Episode – Peeschute)
As much embarrassing it sounds but we all have been in situation when we needed to pee but there was no clean washroom or even a washroom and situation gets worse for us female but than came a kind soul who invented Peeschute , which’s a unisex disposable paper urine bag that solidifies pee into gel without any smell or leakage. Let’s know bit more about company:
Company Details:
Peeschute was established in 2018 as a need of the hour solution to many personal and travel urination problems.
As of 2023, the company has received patent right and are dedicated to bring a revolution in the sanitation sector globally and create employment amongst women and men in the ratio of 60:40 respectively.
“While I always found it difficult to urinate during my travels, I never thought of finding a solution to the problem until I participated in this workshop,” says Siddhant.
When started, Siddhant tested different materials that can store liquid including empty water bottles, paper bags, balloons. Eventually he arrived at environment-friendly and portable urine bag that is shaped like an envelope that can fit into your pocket and can be easily sealed after use and disposed.
Then he applied to Nidhi Prayas, a government scheme specifically meant for student entrepreneurs who have product development plans in the interest of the nation through which he recieved an initial funding of Rs 10 lakh to develop the product prototype in 2017.
Peeschute additionally also aims at remodeling public washrooms through Peeschute Privacy Chamber which are like make shift chambers, that would cost only (INR2500/-) making it lesser than tradional washrooms (was not displayed on show due to patent pending) because of flexible setup.
The company has already collaborated with government under Niti Aayog intiatives and also ran successful paid pilot projects in foreign countries including UK, America, Canada.
Company Valuation: 18.75 crores
Sales:
1st year sales: 14 lakh
2nd year sales: 23 lakhs
Offers:
Siddhant asked:75 lakh for 4%equity
Ashneer’s offer : 75 lakh for 7%equity
Anupam and Vineeeta’s offer : 75 lakh for 10%equity
Aman’s offer : 75 lakh for 10%equity
Since Siddhanth wanted Aman to be onboard for his marketing advice he presented a counter offer to Aman : 75 lakh for 6%equity , making it final deal.