Entrepreneur Name – Sheikh Samiullah and Abid Rashid
About the Entrepreneur – FastBeetle was founded in 2019 by Sheikh Samiullah and Abid Rashid, both hailing from Srinagar. Abid Rashid, who holds a B.Tech degree in engineering and completed his studies in Delhi, has been living in Dubai for several years.
Meanwhile, Sheikh Samiullah, who serves as the CEO of FastBeetle, earned a BBA from Haryana Kurukshetra University and gained inspiration to start his own company after working for a logistics startup.
LinkedIn Profile –
| Sheikh Samiullah | https://www.linkedin.com/in/sheikh-samiullah/ |
| Abid Rashid | https://www.linkedin.com/in/abidrashidlone/ |
| Brand Name | FastBeetle |
| Brand Website | https://www.fastbeetle.com/ |
| Business Category | Logistics |
Innovation – Yes, Despite the era of speedy commerce, the availability of delivery services in Jammu and Kashmir has remained a distant dream. FastBeetle is dedicated to addressing this issue and finding a solution.
| Company Valuation | ₹12 Crores |
| Equity Asked | ₹90 Lakhs for 3% Equity |
| Deal Closed | Yes |
| Final Shark Tank Deal | ₹90 Lakhs for 7.5% Equity |
| Target City/Country | In More Than 55 Countries |
| Total Addressable Market | $410.75 Billion |
| Product | Logistics Services |
About the Product – FastBettle is a logistics service provider that tackles the challenges of delivery in Kashmir. They operate through two applications, each with a different interface. The FastBettle app consists of a customer-based interface and a business-based interface, catering to the needs of businesses and individuals.
The customer-based interface is a hyperlocal app that assists in the transportation of goods from one location to another. The delivery app is another feature that facilitates deliveries. FastBettle has empowered over 1200 businesses and successfully fulfilled 12 lakh orders across 55 countries. Their vision is to extend their services to every corner of the world where delivery facilities are not yet available.
The business comprises three categories: First Mile Delivery, Mid Mile Delivery, and Last Mile Delivery, and FastBettle is involved in all three processes.
Conclusion –
Sheikh Samiullah and Abid Rashid asked ₹90 Lakhs for 3% Equity. Sharks, Aman, and Peyush offered ₹90 Lakhs for 7.5% Equity. It concluded in a successful deal.
