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Primebook Reveals Educational Laptop After Raising Funds On Shark Tank

Primebook will utilise the raised funds to strengthen the brand's tech infrastructure and marketing mechanism to reach its audience

Primebook Reveals Educational Laptop After Raising Funds On Shark Tank
Primebook founders and team members pitching to the investors on Shark Tank Season 2
POSTED ON January 17, 2023 1:22 PM

Primebook, a made-in-India Android laptop brand, revealed their new laptop for students, Primebook 4G, on Shark Tank Season 2. 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. 

The brand accepted and secured Rs 75 lakh investment from Peyush Bansal and Aman Gupta for 3 per cent equity.

Shark Tank is a reality show featuring entrepreneurs pitching business presentations on their start-ups to a panel of investors also called Sharks, who decides whether to invest in the company.

With a current valuation of Rs 25 crore, Primebook aims to utilise the raised funds to strengthen the brand's tech infrastructure and marketing mechanism to reach its audience.

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 1 out of 10 children in India have access to the laptops. 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 in quality and offers the best price-to-performance ratios.

"As a team, we have put our heart and soul into developing Primebook. 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,” said Chitranshu Mahant, co-founder and chief executive officer (CEO), Primebook.

“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," added Aman Verma, co-founder and chief operating officer (COO), Primebook.

While handing over the check at the reality show, investor aka shark Peyush Bansal said that Aman Gupta can help the team improve their hardware while he can aid in the upgradation of the software.

Primebook 4G will be integrated with a 4G wireless sim connectivity and the brand's proprietary Android 11-based operating system- PrimeOS, which is being tested for compatibility with over two lakh android apps that can aid learning. 

Over the last four years, Primebook has witnessed growth in the business-to-business (B2B) category and is now on the pathway to further expanding its operations in the business-to-consumer (B2C) segment.

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