GrowiT grabs the attention of farmers and agricultural enthusiasts alike with its innovative range of Protective Farming Products. From advanced pest control solutions to state-of-the-art weather protection systems, GrowiT provides a comprehensive arsenal of tools to shield crops from potential harm.
Farmers can trust GrowiT to effectively safeguard their harvests and ensure optimal productivity.
Agriculture Business in India(Case Study)
As farmers delve deeper into the world of GrowiT, they discover a treasure trove of cutting-edge technologies designed to address the unique challenges faced in the agricultural landscape.
GrowiT’s Protective Farming Products are engineered with precision and backed by extensive research, empowering farmers to enhance their crop quality, minimize losses, and boost overall efficiency. With GrowiT, farmers can cultivate with confidence, knowing their investments are protected.
GrowiT ignites a desire within farmers to incorporate its Protective Farming Products into their agricultural practices. By leveraging GrowiT’s solutions, farmers gain access to reliable and effective means of safeguarding their crops against pests, diseases, adverse weather conditions, and other potential threats.
With GrowiT by their side, farmers can aspire to achieve greater yields, increased profitability, and sustainable farming practices.
The time has come for farmers to take action and experience the transformative power of GrowiT’s Protective Farming Products.
By choosing GrowiT, they embark on a journey of innovation and resilience, securing a brighter and more prosperous future for their agricultural endeavors.
Embrace GrowiT today and join the ranks of farmers who have unlocked the true potential of their crops through advanced protection and unparalleled expertise.
Remember, when it comes to protective farming solutions, GrowiT stands tall as the ultimate partner for farmers who prioritize crop security and success.
Entrepreneur Name- Saurabh Agarwal and Akshay Agarwal
About the Entrepreneur- GROWiT was founded by Saurabh Agarwal and Akshay Agarwal, who originate from Surat. Saurabh obtained his undergraduate degree from Cardiff University in the UK and subsequently pursued an MBA at SP Jain College in Mumbai.
LinkedIn Profiles-
| Saurabh Agarwal | https://www.linkedin.com/in/saurabhagarwal-growit/ |
| Akshay Agarwal | https://www.linkedin.com/in/agarwalakshay/ |
| Brand Name– | GrowiT |
| Brand Website- | https://thegrowit.com/ |
| Business Category– | Agriculture and Farming. |
Innovation;- Yes, The objective of Grow It Business is to offer innovative tools and solutions through sustainable, efficient, and cost-effective farming practices, focusing on improving food quality, promoting climate-smart agriculture, empowering farmers, and increasing productivity among them.
| Company Valuation– | ₹50 Crores. |
| Equity Asked– | ₹1 cr for 1% Equity |
| Deal Closed– | Yes. |
| Final Shark Tank Deal– | ₹50 Lakhs for 1% Equity & ₹50 Lakhs Debt |
| Target City/Country- | India. |
| Total Addressable Market- | 18.91 Billion USD by 2022. |
| Product/Services– | Protective Farming Products |
About the Product- India, being an agricultural country, possesses a substantial production capacity that allows it to export agricultural products.
For instance, India and China have an annual cotton production of 60 lakh tons. However, India requires 1.25 crore hectares of land for this purpose, whereas China only requires one-fourth of the same.
This can be attributed to China’s advanced technology in comparison to India’s outdated methods.
To address this issue, GROWiT provides protective farming advice and other solutions to enhance crop yield. While 70% to 80% of farmers in other countries utilize this technique, only 2% of farmers in India have adopted it.
This technique offers several benefits, such as reducing water, fertilizer, and pesticide consumption by 50%, preventing sunburn and weed growth, and enhancing the quality and quantity of farming products, resulting in better returns for farmers.
GROWiT has assisted over 15,000 farmers across four states and demonstrated how mulching can double the profits of farms.
Mulching is a plastic structure that retains soil moisture while preventing weed growth, pests, and insects.
The market size for mulching is between 400 crore rupees and 500 crore rupees. GROWiT has established 70 demo farms to showcase the benefits of this structure and has developed a product that can last for one harvest season.
The company has also launched a buyback scheme where farmers can sell the used product back to the company. GROWiT currently offers 18 products to aid in crop production.
Conclusion–
Saurabh Agarwal and Akshay Agarwal sought funding of ₹1 crore for a 1% equity stake in their business. Sharks, Namita and Peyush, the investors, offered a lower amount of 50 lakhs for the same equity stake, along with an additional 50 lakhs as debt at 10% interest.
The Pitchers requested a higher business valuation of 75 crore rupees, but Namita and Peyush disagreed and suggested a valuation of 50 crore rupees instead.
Finally, the deal was settled with Namita and Peyush investing 50 lakhs in return for 1% equity and 50 lakhs in debt at a 10% interest rate.
It’s important to note that without further information about the business and its financials, the deal’s fairness cannot be determined.
