Bansal invested Rs 10 lakh against one per cent of iMumz’s equity
The chief executive officer (CEO) of Lenskart, Peyush Bansal invested in Bengaluru-based start-up iMumz in the second season of the entrepreneurship-based reality show Shark Tank.
iMumz, which claims to help pregnant women to deliver babies through a proper lifestyle, pitched for Rs 70 lakh in exchange for one per cent of its equity. It aimed for a valuation of Rs 70 crore.
However, Bansal invested Rs 10 lakh against one per cent of iMumz’s equity and announced to provide Rs 60 lakh as loans. His decision brought the company’s valuation to Rs 10 crore.
Addressing the development on LinkedIn, Ravi Teza Akondi, the chief executive officer (CEO) of iMumz, wrote, “Deal pakki hai (The deal is done). Happy to get one of the most visionary founders Peyush Bansal on our side to take iMumz to greater heights.”
Elaborating on iMumz, Akondi said, “We help pregnant women follow a good lifestyle. Which is super important for her and her baby's health.” Adding further, he said that the company takes the help of yoga, nutrition and ‘garbhasanskar’ coaches to provide a better lifestyle to pregnant women.
According to a report by Business Today, Bansal has invested Rs 9.45 crore in the second edition of Shark Tank India. Last season, the entrepreneur invested Rs 8.7 crore across 27 deals.
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