Based in Chennai, Solinas Integrity is a trailblazing firm using robotics in the sanitation sector to completely eliminate hand-picked scavenging in India Their areas of expertise are creating and using robotic solutions catered for different sanitation chores. Among their best inventions are Endobot, a pipeline inspection robot meant for thorough analysis, and HomoSEP, a creative septic tank cleaning robot running without any operator interaction.
Among their innovative technologies is iGlobus, an inline inspection robot designed mostly for leak and pilferage detection over long distances. The innovative ideas of Solinas Integrity in the sector have received much appreciation, including the esteemed Best on Campus award at the ET Startups Awards 2022. For two percent of the business, they demanded an investment of ₹90 lakhs. After including all accessories, the machine costs between ₹15 and 25 lakh Lakh.
Their investment at ₹26 Crore valuation comes out to be ₹4.2 Crores. Their current year run rate is ₹5 Crores whereas their FY21–22 revenues were at ₹1.2 Crores. HomoSEP will provide ₹3 crores; the remainder will come from services around Endobot. Their gross margin runs at sixty percent. According to the inventors, India would be about 10% of the $6 billion worldwide market.
Company Name: Solinas
Founder: Bhavesh Narayani, Divanshu Kumar, Moinak Banerjee & Linda Jasline
Product: Water Sanitation Asset Management
Highlights
1. HomoSEP is a robotic approach for cleaning septic tanks, therefore removing manual scavenging.
2. An endobot is a robot designed for obstruction and damage inspection of pipelines and sewer lines.
3. Social Impact: seeks worker safety and aims to eradicate hand scavenging.
4. Technological Innovation: Accurate and quick sanitation chores made possible by artificial intelligence and automation
5. Target municipal companies and government agencies for extensive acceptance in the market.
Pitch Details
Ask: ₹90 lakhs for 2% equity, valuing the company at ₹45 crores.
Deal: After negotiation Anupam Mittal and Peyush Bansal finished the deal at ₹90 Lakhs for 3% Equity.
Investors: The investment came from Anupam Mittal and Peyush Bansal.
Conclusion
Solinas surprised the Sharks with its creative robotics-based ideas meant to address important Indian sanitation problems, especially manual scavenging. With a safe, automated substitute for cleaning septic tanks and pipeline inspection, the firm presented great potential for social impact. Emphasising sustainability and artificial intelligence-driven technologies, Solinas offered a scalable waste management system that tackles efficiency and safety simultaneously. With an investment of ₹90 lakhs for 3% equity from Anupam Mittal and Peyush Bansal, the pitch concluded underlining the commercial possibilities and social worth of the product.
Key Takeaways from the Episode
1. Transparency and Vision: Clearly state your brand and product line to grab investor interest.
2. Know Your Investors: Look for a better fit by researching those who fit your company model.
3. Professional Negotiations: Keep your professionalism to help to produce favourable results from conversations.
4. Use technology—AI among other things—to scale and enhance your product lines.
5. Leverage market trends to find and satisfy growing customer tastes including those related to health-conscious choices.
6. Differentiated and creative products help you stand out.
