Entrepreneur Name – Manik Sehgal
About the Entrepreneur – Manik Sehgal, a native of Delhi, completed his MBA from Delhi Time School of Marketing before spending 15 years as a strategic planner in a marketing firm. Vikas Sharma, the co-founder of the company, worked as a KPO. The two founders each hold a 45% equity stake in the company, while the remaining 10% equity is held by street vendors.
| Brand Name | Raasa |
| Brand Website | https://raasakarts.com/ |
| Business Category | Foodcarts |
Innovation – Yes, Raasa Food Karts Business is focused on providing street vendors with high-quality and functional food carts, enabling them to create a distinctive brand and image while increasing their efficiency and organization. Their aim is to help vendors offer safe and hygienic food options to their customers.
| Company Valuation | ₹2 Crores |
| Equity Asked | ₹50 Lakhs for 5% Equity |
| Deal Closed | Yes |
| Final Shark Tank Deal | ₹50 Lakhs for 25% Equity |
| Target City/Country | India |
| Total Addressable Market | 650 million dollars |
| Product | Hygenic & Safe Food Carts |
About the Product – Raasa Food Karts Business has expanded its services to enhance its brand identity in the food cart industry by introducing thoughtfully prepared food with hygienic and safe food presentation. They have also provided a platform for small vendors to connect with a larger market by categorizing them and giving them some responsibilities. In addition, they offer grocery delivery services. The company recognizes that giving vendors time to grow their business is beneficial for all parties involved.
Conclusion –
Manik Sehgal asked ₹50 Lakhs for 5% Equity. Shark Anupam Mittal offered ₹50 Lakhs for 25% Equity. It concluded in successful deal.
