WithOut secures Rs 75 lakh investment deal from Shark Ronnie Screvwala and Peyush Bansal

In a recent episode of Shark Tank India Season 3, WithOut, an innovative startup founded by Anish Malpani, took centre stage with its solution to the pressing plastic waste crisis.

Malpani introduced his company's unique method of converting multi-layer plastic (MLP) waste into high-quality, durable, and recyclable sunglasses, drawing keen interest from the show's investors.

Anish Malpani's path to founding WithOut in December 2019 is marked by a significant personal and professional transformation. Moving from a successful career in New York to grappling with depression, Malpani's journey was fueled by a search for purpose that ultimately led him to champion environmental sustainability and social impact.

WithOut was conceived with the dual aim of improving the lives of waste pickers and tackling the recycling challenges posed by MLP waste, which is difficult to process due to its composite materials.

The startup's focus on sunglasses as its first product was a strategic choice, influenced by market demand, profitability, and the team's enthusiasm. WithOut's transition from concept to market-ready product was propelled by rigorous research and development efforts, including contributions from a PhD in electrochemistry.

WithOut's vision extends beyond producing eco-friendly eyewear. The company aims to recycle 20,000 tons of plastic waste daily by 2030, underscoring its commitment to environmental preservation and the economic empowerment of waste pickers. This ambition was spotlighted during WithOut's pitch on Shark Tank India, where it sought to secure funding to scale its operations.

Initially, WithOut sought an investment of Rs 75 lakhs in exchange for a 1% equity stake, valuing the company at Rs 75 crore. The pitch culminated in a successful investment deal, with Sharks Ronnie Screwvala and Peyush Bansal offering Rs 75 lakhs for 3% equity, valuing the company at Rs 25 crore. 

However, the final agreement involved a combination of equity and debt.

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