Torchit Electronics is a humanitarian venture that uses cutting-edge assistive technology to empower people with visual impairments. The company wants to help people with vision impairments safely and freely navigate their environment by offering them cost-effective and efficient solutions. Saarthi detects obstructions using cutting-edge sensor technology and gives feedback via vibrations.
Their main offering, “Saarthi,” is a reasonably priced and user-friendly mobility tool that helps those with visual impairments recognize hazards within a 10-foot radius. Focused on creating a broader social impact by making assistive devices affordable and accessible to the masses.
Company Name: Torchit Electronics Pvt. Ltd.
Founder:Hunny Bhagchandani
City: Ahmedabad
Product: Products for visually impaired people
Highlights
- The product is priced at ₹1,500 – ₹2,000 making it highly accessible compared to other assistive devices available in the market.
- Torchit has already reached over 12,000 users across India
- Hunny outlined Torchit’s plan to enable millions of people with visual impairments to live autonomous lives. He demonstrated Saarthi’s efficacy while highlighting its price and user-friendliness.
- Namita opted out of the deal, citing that the company needed a different kind of support beyond what she could offer.
- Aman appreciated hunny’s dedication but decided not to invest, as he felt the market was too niche for his portfolio.
- Ashneer opted out, stating that the business required more government or NGO partnerships rather than traditional venture capital support.
- Vineeta suggested focusing on building stronger partnerships with NGOs and government bodies to scale distribution.
- Anupam gave an offer of 50 Lakhs for 2.5% Equity, suggesting the business focus on sustainable revenue models and partnerships but declined by hunny.
- The product has significant potential to improve the lives of visually impaired individuals and promote inclusivity.
- The Sharks felt that the business model relied more on creating social impact than generating substantial profits, which may limit its appeal to traditional investors.
Pitch Details
Ask: ₹75 lakhs for 1% equity.
Deal: No Deal
Conclusion
Torchit Electronics’ flagship product, Saarthi, offered a commendable and inventive way to help the blind and visually challenged. The Sharks commended the product’s social impact and price, but they also pointed out scaling issues and suggested concentrating on partnerships for long-term success. The pitch emphasized the significance of matching business strategies with social impact objectives in niche industries, even though no investment was ultimately made.
Significant findings
- Social Impact
- Scalability Challenges
- Revenue Model and Partnerships
- Affordability and Accessibility
- Market Focus
