Made-in-India android laptop brand Primebook has secured Rs 75 lakh investment from ‘sharks’ Peyush Bansal and Aman Gupta in the second season of the popular business reality show Shark Tank India. The company accepted the combined offer of Lenskart’s Peyush Bansal and boAt’s Aman Gupta for 3 per cent equity.
With a current valuation of Rs 25 crore, Primebook will utilise the raised funds to further strengthen the brand’s tech infrastructure and marketing mechanism to reach its precise audience, the company said in a statement.
“We at Primebook truly believe that geniuses can be built in every home. We want to ensure that access to tech does not become a roadblock for eager learners; rather, it becomes a conduit for their success. The investment from Shark Tank will allow us to hire the right team to help grow our vision and fortify our infrastructure so that we can reach learners across the country,” Aman Verma, co-founder and COO, Primebook, said.
In their pitch to the judges, Primebook’s founders and the team highlighted that even though students can reduce spending on education by 85 per cent if they use a computer; only one out of 10 children in India get to use one. Therefore, the brand was built with a vision to empower 23 crore children in India by giving them access to a laptop that is high quality and offers the best price to performance ratios.
Chitranshu Mahant, co-founder and CEO, Primebook, said, “Our vision is clear, we want every student in India to have access to a high-quality laptop for learning at a price point similar to that of a smartphone or tablet.”
The company revealed its new Primebook 4G laptop for students on Shark Tank Season 2. As per the company, Primebook 4G will be integrated with a 4G wireless sim connectivity and the brand’s proprietary Android 11-based operating system- PrimeOS, which is extensively tested for compatibility with over two lakh android apps that can aid learning.
Having piqued the interest of four out of the five sharks, the brand received individual offers from Vineeta Singh, Aman Gupta, Peyush Bansal and Anupam Mittal, along with a combined offer from all five sharks.
Delhi-based start-up Primebook was founded by IIT Delhi alumni and co-founders Aman Verma and Chitranshu Mahant in 2018. The brand claims to have worked with NGOs, schools and edtech companies across geographies to enable a smooth transition to hybrid and e-learning.
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