Kyari Innovations signs deal worth Rs 51 Lakh for 6% equipment with Anupam Mittal and Peyush Bansal
- ByStartupStory | January 21, 2023
The Ghaziabad-based startup, Kyari Innovations, founded in 2017 by siblings Smratika and Abhay Sharma, manufactures and sells Guardian, which the founders claim is the world’s first smart walking stick. Guardian is a tech-enabled walking stick with LED lights, a panic alarm, a power bank for portable charging, and an electrical probe (taser) with 10,000 volts of charge – enough to temporarily immobilise an attacker without causing serious injuries. It has a 720-hour battery life.
The smart walking stick is available in three models, with prices ranging from $10,000 to $17,500. Along with the smart stick, Kyari offers accessories such as a stand that can be transformed into an axe or shovel, as well as a wall mount and moto mount for mounting the device.
According to the founders, around 2,000 forest guards are already using the smart walking stick. Kyari also manufactures ANIDERS (Animal Intrusion Detection and Repellent System), a device that aids in crop raid prevention and wildlife protection. According to the company, ANIDERS has been installed in forest departments in over 20 Indian states. A basic model of ANIDERS costs $233 (approximately $18,900). Kyari is also recognised by NRDC (National Research Development Corporation) and accredited by ICAR, the Government of India, according to the founders on LinkedIn.
“Like you sharks are sitting so close, I encountered a tiger at a similar distance and I was on foot. I was alone, and suddenly a tiger came from behind a boulder. I just froze. The tiger saw me and left but I remained frozen on the spot. That’s why I know, when you face a wild animal, you freeze – you can’t even scream,” shared Abhay on the show.
Namita Thapar and Amit Jain made a joint offer of Rs.51 lakh for a 10% stake, valuing the company at Rs.5.1 crore. Simultaneously, Mittal, along Peyush Bansal, Aman Gupta, made a joint offer of Rs.51 lakh for a 12% equity stake, valuing the company at Rs.4.25 crore.
After an intense negotiation round Bansal and Mittal locked the deal of Rs 51 Lakh for 6% equity.
Follow Startup Story
Related Posts
