P-TAL: Startup founders secured a multi-crore investment by reminding "Thathera" and achieving a shark deal
P-TAL: P-TAL has helped about 55 such Thathera families, who earlier used to earn Rs 2-3 thousand every month, but today the income of these families ranges from a minimum of Rs 25 thousand per month to Rs 1 lakh. This startup has received investment from all the sharks in Shark Tank India.
P-TAL, a startup that manufactures and sells brass, copper and bronze utensils, has got a big deal in Shark Tank India. Although during the program many sharks kept calling the products of this startup a luxury, ultimately everyone invested in it. After a lot of negotiations, the startup's founders secured an investment of Rs 1 crore in exchange for 3.2 per cent equity at a valuation of Rs 31.25 crore. The full name of P-TAL is 'Punjab Thathera Art Legacy'. P-TAL startup was started in 2019 by Aditya Agarwal, Kirti Goyal and Gaurav Garg. It was started as a project while studying at Shri Ram College of Commerce, Delhi.
The Thathera word's meaning was also clarified by the startup's founders during the programme. Utensils are handmade in the community of Thathera. What to eat is the only topic of conversation these days, according to the startup's founders; what to cook it in is not. Grandmothers used to say, "Cook in brass, eat in bronze, and drink water in copper vessels." When food is prepared with these, 93% of its nutrients are retained, compared to only 13% when it is prepared with regular dinnerware.
About fifty-five of these Thathera families, who formerly made between Rs. 2,000 and Rs. 3,000 per month, have benefited from P-TAL's assistance. These families now make between Rs. 25,000 and Rs. 1 lakh per month on average. The family resides in Jandiala Gurudwara, a tiny village situated between 30 and 35 kilometres away from Amritsar.
Just Rs 21 lakh was the startup's yearly sales in 2019–20, following its establishment in 2019. Sales for the company reached Rs 85 lakh in 2020–21. Sales for the company were Rs 2.76 crore in 2021–2022. On the other hand, the company sold goods for Rs 3.98 crore in 2022–2023. Sales of Rs 9 crore are expected for the startup in 2023–2024. This startup also has a retail outlet in Delhi, the rest of the business is online. The market for such products in India is worth Rs 30-35 thousand crores. At present this company is in profit.
Recently P-TAL had completed its seed funding round. The startup had raised Rs 4.33 crore in its seed funding round. The company's seed funding round was led by Titan Capital. Apart from this, participants in this funding are Anikat Capital, Mamaarth's Ghazal Alagh, Sandeep Aggarwal of Droom and Shop Clues, Vishesh Khurana of Ship Rocket, Ashutosh Valani and Priyanka Shah of Weirddo and Reeni Cosmetics, Bala Sarada of VAHDM India, Deep and Mohit Bajaj of Sirona. , Ashish Tulsyan from Posist, Dr Vaidya Arjun Vaidya from V3 Ventures and others.
