Nithin Kamath, the founder and CEO of on-line broking platform Zerodha, lately backed Zerodor, a waterless urinal which featured in an episode of Shark Tank India season 3.
In a publish on X (previously Twitter), Kamath backed the pitch made by firm founder Uttam Banerjee. He mentioned that they’ve been utilizing Zerodor for the lads’s urinals at their places of work for round 6 months.
“We’ve been utilizing Zerodor for the lads’s urinals at our places of work for the final six months or so. Our water payments are down 50% — we didn’t anticipate it to be this a lot,” Kamath mentioned.
Kamath additional talked about that his firm Rainmatter is supporting the enterprise. “We favored the product as a result of they’re doing no matter is critical to protect water, which has grow to be supercritical. We’re supporting them by Rainmatter.”
As per the weblog publish shared by Kamath on Z, Zerodor is utilized by greater than 700 organisations together with Indian Railways, authorities establishments, some massive meals and beverage chains, buying malls, theatres, protection institutions, automotive industries, and personal firms.
Based by Sachin Joshi and Uttam Banerjee, Zerodor featured on Shark Tank India’s season 3. As per their pitch on the present, the product is a chunk of retrofit tools that may be deployed in any commercially obtainable urinal.
The pitch additionally comprised a specifically designed urinal for ladies. The founders mentioned that they attempt to present CPR to the sanitation system, i.e., Preserve, Shield, and Restore with their merchandise and options.
In line with Kumar, the product was born after his marriage. He hailed from a small village in Jharkhand the place there was no washroom, which additionally turned a motive for his spouse to not go to his place.
The founders sought an funding of ₹1 crore in 3 per cent stake of their firm. Zerodor didn’t get any deal on the present for the reason that ‘sharks’ discovered a number of issues within the product.
Edelweiss Mutual Fund MD and CEO Radhika Gupta was not happy with the sluggish fee of revenue progress whereas Vineeta Singh questioned them on taking ₹2 crore from an investor and never having the ability to yield returns in 7 years.
Lenskart’s Peyush Bansal gave them a proposal however on one situation that Zerodor will focus just one waterless urinal and rent an individual to leads gross sales. The founders refused to take this supply, leading to a no deal.