This Sunday, October 7th 2018, history was made when a startup Battery Lala raised an investment of PKR 4 Crores in Episode 3 of Pakistan’s premier startup reality show – Idea Croron Ka Season 3.
And this is not it. It was the first time ever that a “female” investor invested in a startup. Shahida Saleem, Founder Impact Network, became the first female investor of the show.
Watch complete pitch:
Battery Lala is an ecommerce platform dealing with batteries of all kinds. Their inventory include UPS batteries, car batteries and solar batteries to name a few. They claim to ensure installation within four hours of order placement. However, at this time Battery Lala is only operational in Islamabad and plans to expand in other areas of Pakistan. They remain undisputed in the market because courier companies do not transport acid based products.
“In the next five years I see Battery Lala as the next Daraz in the niche of batteries” said Qamar, Founder and CEO, Battery Lala as he puts forward his ask of Rs. 100 million (Rs. 10 Crore) against 30 percent equity.
Nabeel A. Qadeer - lead, content producer and host of the show, left the audience with an inspiration to look up to and brought up the four faculties any entrepreneur must have to breakthrough. He exclaimed:
“In my entire experience with entrepreneurs on this show and otherwise, this is one of the best pitches I have witnessed. This is what we call a true entrepreneur. No doubt about that. We have been selling the same thing since many years now in incubators. With all due respect you are an inspiration for a lot of entrepreneurs who are watching you right now. From passion, to the knowledge of the domain, focus and desire to go, Qamar fulfils every criteria of an entrepreneur!”
The investors also endorsed this remark and an instant investment battle between them sparked. Naeem Zamindar, Founder and CEO Zamindar Capital, started the round with asking for 15% equity against 2 crore rupees. This was immediately countered by Shahida Saleem, Lead Impact Network, who demanded third party valuation and offered Rs. 4 Crore investment on the table.
The negotiations led to a total of Rs. 4 crores split between Shahida Saleem and Naeem Zamindar with sweat equity from Badar Khushnood, Co-Founder Bramerz.pk and Fishery.com! This marked the biggest investment ever raised on a TV show in Pakistan.
Idea Croron Ka, Pakistan’s first startup reality show, now in its Season 3, has made huge successes in the a short time span of a year and a half since its inception in January 2017. Not only does it have international organizations as its partners such as Facebook, USAID, Amazon and Turkish Airlines Invest on Board (With this partnership Idea Croron Ka became the first Pakistani show to be aired in any international airlines) but has also premiered internationally in US and Russia.
This is only the third episode of this season and the excitement has just begun!
The episode also featured pitches of two more startups, Desi Mountaineer and Maqami. Watch complete episode here:
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