Javeria Shakeel, the COO and co-founder of Enent, who appeared in Shark Tank Pakistan secured Rs20 million in funding for 25 per cent equity and 30 per cent royalty after she initially pitched for Rs20 million for 10 per cent equity.
Usman from the shark’s panel was amazed by the business model and offered his numbers, which was negotiated to the final deal.
Enent pitch
Co-founder of Enent, a clean-tech electronics Startup that designs innovative products to reduce energy waste, initially explained the company’s products and major clients of the firm so far.
The company’s COO explained the working of their main product, Intellica 3 phase Automatic Load Balancer. She said that the selling price of the product varies with the size of the locality. The maximum price they are offering is Rs0.45 lacs, while the production cost is Rs0.28 lacs.
Javeria Shakeel said “We are initially targeting Business 2 Business (B2B) like housing societies and residential compounds of industries, but, we will later launch Business-to-consumer (B2C).
Earlier, one of the sharks, Rabeel, offered Rs20 million for 30 per cent equity and 10 per cent royalty on a conditional basis including the contract with Shell, and the patron must be registered with the trademark.
Usman offered Rs20 million for 25 per cent equity and 30 per cent royalty from the company’s net profit.
Javeria gave the counter offer of Rs20 million for 25 per cent equity and 10 per cent royalty.
For the entrepreneur’s demand, all sharks except Usman rescued themselves from investing in the business and extended best wishes for the company’s future endeavors.
Following the competitive negotiations, both sides agreed on Rs20 million for 25 per cent equity and 30 per cent royalty.
Pitch overview
- Pitcher: Javeria Shakeel
- Ask:Rs20 million for 10 per cent equity
- Business: Enent
- Result: Both sides agreed on Rs20 million for 25 per cent equity and 30 per cent royalty
