Entrepreneur Name;- Mukul Chabra
About the Entrepreneur;- The founder of the company, Mukul Chabra, is originally from Delhi and has a degree in b.tech from IIIT. Prior to this venture, he had a startup focused on drones.
As a child, he had a keen interest in robotics and enjoyed exploring electronic components in his uncle’s junkyard, who was a scrap dealer. Upon moving to Delhi, he observed the absence of an organized sector for scrap and conducted research before starting this business.
LinkedIn Profile – https://www.linkedin.com/in/mukul-chhabra-430a18124/
| Brand Name | Scrap Uncle |
| Brand Website | https://scrapuncle.com/home |
| Business Category | Online Scrap selling App |
Innovation;- Yes, Scrap Uncle – Modern Tech Kabadiwala is a business that operates through the Scrap Uncle App, allowing customers to sell scrap online.
Unlike traditional kabadiwalas who shout to announce their presence, this service is responsible and sends the junk directly for recycling. The business has released a promotional video that has been running for several days.
| Company Valuation | ₹6 Crores |
| Equity Asked | ₹60 Lakhs for 3% Equity |
| Deal Closed | Yes |
| Final Shark Tank Deal | ₹60 Lakhs for 5% Equity |
| Target City/Country | New Delhi, India |
| Total Addressable Market | USD 11 billion |
| Product | Scrap Selling App |
About the Product – ScrapUncle is a startup that aims to address India’s issue of recyclable waste management with a more organized approach.
Their digital recycling platform, available through their app and website, offers a convenient and incentivized way for users such as households and businesses to dispose of their recyclables, including paper, plastics, metals, and e-waste, through scheduled doorstep pickups. In doing so, they hope to create a positive impact and promote responsible and rewarding recycling practices.
Conclusion –
Mukul Chabra asked ₹60 Lakhs for 3% Equity. Shark Amit offered ₹60 Lakhs for 5% Equity, It concluded in a successful deal.
Revolutionizing Recycling with Scrap Uncle
- Entrepreneur Profile: Mukul Chabra
- Mukul Chabra, a Delhi native with a B.Tech degree from IIIT.
- Previous startup experience in drone technology.
- Childhood interest in robotics and exploration of electronic components.
- Brand Details
- Brand Name: Scrap Uncle
- Business Category: Online Scrap Selling App
- Innovation in Recycling
- Innovation: Scrap Uncle – Modern Tech Kabadiwala operates through an app for online scrap selling.
- A responsible approach, eliminating the need for traditional loud announcements by kabadiwalas.
- Promotional video highlighting the modern and eco-friendly service.
- Equity and Valuation
- Company Valuation: ₹6 Crores
- Equity Asked: ₹60 Lakhs for 3% Equity
- Deal Closed: Yes
- Final Deal: ₹60 Lakhs for 5% Equity
- Target Market
- Target City/Country: New Delhi, India
- Total Addressable Market: USD 11 billion
- Product Focus: Scrap Selling App
- Product: Scrap Uncle – Digital recycling platform accessible via app and website.
- Facilitates convenient and incentivized recycling for households and businesses.
- Accepts recyclables like paper, plastics, metals, and e-waste with scheduled doorstep pickups.
- Conclusion: A Successful Deal
- Mukul Chabra’s pitch aimed at addressing India’s recyclable waste management.
- Asked for ₹60 Lakhs for 3% Equity; Amit closed the deal at ₹60 Lakhs for 5% Equity.
- Scrap Uncle focuses on promoting responsible and rewarding recycling practices.
Note: This summary encapsulates Mukul Chabra’s pitch for Scrap Uncle, emphasizing the innovative approach, deal details, and the impact on recyclable waste management.
ScrapUncle: Revolutionizing Recyclable Waste Management
Business Plan:
- Introduction:
- ScrapUncle is a pioneering startup addressing India’s recyclable waste management challenges with an organized approach.
- Business Potential in India:
- The increasing awareness of environmental sustainability aligns with a growing market for responsible waste management solutions.
- Total Addressable Market (TAM):
- With a vast population and rising environmental concerns, the TAM for organized recyclable waste management is substantial.
- Ideal Target Audience:
- Households, businesses, and individuals aiming for eco-friendly practices.
- Marketing Strategy:
- Digital campaigns emphasizing the environmental impact of recycling.
- Collaborations with local environmental organizations for community outreach.
- Content and Digital Marketing Strategy:
- Engaging content highlighting the ease and benefits of using ScrapUncle’s digital platform.
- Educational content on the importance of recycling and its positive outcomes.
- Distribution Strategy:
- Offer the ScrapUncle platform through a user-friendly app and website.
- Establish partnerships with local waste collection agencies for efficient pickups.
- Advantages:
- Convenient and scheduled doorstep pickups.
- Incentivized approach with rewards for users fostering regular recycling.
- Challenges:
- Building awareness and changing attitudes towards recycling practices.
- Logistic challenges in coordinating doorstep pickups efficiently.
- Reasons for Success:
- Offering a user-friendly and incentivized recycling platform.
- Aligning with the increasing environmental consciousness in society.
- Mitigation Strategies:
- Extensive awareness campaigns through digital and local channels.
- Implementing an efficient logistics system for timely pickups.
- Future Business:
- Expand service offerings to include more types of recyclables.
- Collaborate with municipalities and local governments for broader coverage.
- Roadmap to Increase Valuation:
- Scale operations to cover multiple cities.
- Integrate technological advancements for more efficient waste tracking and recycling.
In conclusion, ScrapUncle’s digital recycling platform presents a comprehensive and sustainable solution to India’s recyclable waste management challenges, contributing to a greener and cleaner future.
