New DelhiUPDATED: Jan 17, 2023 18:29 IST
By India Today Tech: Shark Tank India Season 2 is streaming on SonyLiv streaming platform. In the latest episode of Shark Tank India a Delhi-based startup founded by IITians got offers from all Sharks but the firm decided to take up Rs 75 lakh investment from Peeyush Bansal and Aman Gupta for 3 per cent equity. The startup Primebook received individual offers from Vineeta Singh, Aman Gupta, Peyush Bansal and Anupam Mittal, along with a combined offer from all five sharks.
As the name suggests, Primebook is a made-in-India Android laptop brand that during the Shark Tank India episode revealed their first-of-its-kind laptop for students called Primebook 4G. Commenting on getting an offer, Primebook Co-Founders, Chitranshu Mahant and Aman Verma said, “we couldn’t have asked for a better combo of sharks. We feel extremely lucky to get a chance to work with both.” Bansal while handing over the check said that Gupta can help the team improve their hardware while he can aid in upgrading the software.
Primebook 4G is integrated with a 4G wireless SIM connectivity and runs on the brand’s Android 11-based operating system, PrimeOS. The company claims that it has extensively tested PrimeOS for compatibility with over two lakh Android apps. As far as the specifications are concerned, the Primebook 4G comes with MTK8788, an 11.6-inch HD screen, 4GB LP DDR3 + 64GB eMMC (expandable upto 200GB), 2-megapixel camera, and more. The company claims that the laptop offers 12 hours of battery life.
In their pitch to the Sharks, Primebook’s founders highlighted that even though students can reduce spending on education by 85 per cent if they use a computer; only 1 out of 10 children in India get to use one. “The brand was built with a vision to empower 23 crore children in India by giving them access to a laptop that is high quality and offers the best price to performance ratios,” the company said. Primebook further reveals that “with a current valuation of Rs 25 crore, Primebook will utilize the raised funds to further strengthen the brand’s tech infrastructure and marketing mechanism to reach its precise audience.”
Talking about Shark Tank, Chitranshu Mahant, Co-Founder & CEO, Primebook, said, “we are ecstatic about receiving this funding from Shark Tank. As a team, we have put our heart and soul into developing Primebook. Our vision is clear, we want every student in India to have access to a high-quality laptop for learning at a price point similar to that of a smartphone / tablet.”
Additionally, Aman Verma, Co-Founder & COO, Primebook said, “we at Primebook truly believe that geniuses can be built in every home. We want to ensure that access to tech does not become a roadblock for eager learners; rather, it becomes a conduit for their success. The investment from Shark Tank will allow us to hire the right team to help grow our vision and fortify our infrastructure so that we can reach learners across the country.”
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