Tohands secures Rs 60 lakh investment from Shark Radhika Gupta, Varun Dua

Bengaluru-based Tohands has developed the world's first smart calculator designed to help shopkeepers effortlessly record sales and expenses by integrating two new buttons, Cash In and Cash Out, directly into the device.

This smart calculator syncs data with the Tohands app, enabling shopkeepers to manage inventory and transactions without the need for costly billing machines or the hassle of using mobile phones for transaction recording. The team aims to revolutionize the way small retailers track their finances, making it more accessible and efficient.

The startup, which aims to install its smart calculators in shops worldwide, is addressing a real pain point for millions of shopkeepers by offering an economical and simple solution to manage their sales, expenses, and inventory.

Who are the founders?

The founders of Tohands, Praveen Mishra, Shanmugam Vadivel S, and Satyam Sahu, come from diverse backgrounds, bringing a unique set of skills and experiences to their startup. 

Praveen hails from a district in Uttar Pradesh (UP), where he completed his schooling before moving to Mumbai for college. However, he dropped out of college to pursue his entrepreneurial journey. His first project was "Bye Bye Seller," a platform aimed at helping shopkeepers create an online presence for their stores.

The idea for the smart calculator emerged while working on this project, as he observed the challenges shopkeepers faced in recording transactions. Shanmugam is from Tamil Nadu and completed his education at Kongu Engineering College, located in Erode.

Sham brings a strong hardware and engineering background to the team, which is crucial for the development of the smart calculator's physical components and functionality. 

Satyam comes from Kanpur and completed his engineering from a state engineering college in Banda. His technical expertise and understanding of engineering principles contribute significantly to the product development and innovation at Two Hands. 

Together, the trio's complementary skills in entrepreneurship, hardware engineering, and software development have enabled them to create a product that addresses a significant gap in the market for small and medium-sized retailers. 

What's the product?

Tohandss founders claim to have developed the world's first smart calculator designed specifically for shopkeepers to streamline their sales and expense recording processes.

This device integrates two new buttons, Cash In and Cash Out, allowing for easy transaction recording directly on the calculator. It's synced with the Tohands app, enabling detailed inventory management and transaction tracking without the need for expensive billing machines or the inconvenience of using smartphones.

The startup has created a smart calculator designed to make financial management easier for small retailers. This affordable and simple device solves a common problem by using something every shop already has: a calculator. It helps store owners easily keep track of their money, sales, and inventory without any hassle.

The latest version, the Tohands smart calculator version 4, offers new features to help shopkeepers. It has a colour LCD screen for easier use, internet connection and app syncing through a GPRS module, a faster microprocessor, the ability to create dynamic QR codes for simple payments, various options for connecting devices like Type C and Bluetooth for printing receipts, and an audio confirmation to check transactions.

The founders believe that these improvements make it easier for shopkeepers to manage transactions, keep an eye on inventory, and handle payments, making the calculator a more useful tool for their business.

How does it work?

The Tohands smart calculator works by adding two innovative buttons, Cash In and Cash Out, to a traditional calculator design. When a shopkeeper makes a sale, they press the Cash In button to record the transaction. For expenses, they use the Cash Out button. This data is then automatically synced with the Tohands app, allowing shopkeepers to easily manage their sales, expenses, and inventory from their smartphones. This simple yet effective system eliminates the need for manual record-keeping or expensive billing equipment, making it a user-friendly solution for small retailers.

Tohands' smart calculator has evolved through versions, culminating in Version 4, which is set to retail at Rs 5,000. Additionally, they offer a subscription model for detailed transaction history, priced starting at Rs 59, catering to users requiring long-term data access.

Shark Tank India pitch 

In a recent Shark Tank India Season 3 pitch, the founders showcased their product and sought Rs 55 lakh for 1% equity, valuing the company at Rs 55 crore. The pitch culminated in a fierce battle of offers, with Anupam Mittal stepping forward with a lucrative proposal of Rs 55 lakh for 1.5% equity, thereby valuing the company at Rs 36.67 crore.

Yet, it was the compelling offer from Radhika and Varun that ultimately won the day - Rs 60 lakh for 2% equity, valuing Tohands at Rs 30 crore. 

Aman said, "Yaar tu solid vanda hai".

With the infusion of a Rs 60 lakh investment, Tohands aims to enhance product development, particularly focusing on the launch of Version 4 of their smart calculator, which promises even more features tailored for shopkeepers.

The startup also aims to expand its market reach, targeting not just tier-one cities but also penetrating deeper into tier-two and tier-three markets, thereby democratizing access to advanced transactional technology for shopkeepers across India.