The recent Shark Tank India episode was focused on environmental sustainability. Amongst the other pitches, one stood out the most. Prachi Shevgaonkar, with her passion project, Cool The Globe, took the stage to share her journey and Mission behind her app.
Cool The Globe: Journey and Mission
Prachi started her pitch by sharing her childhood incident. She was asked to write a letter about what she wanted to become in 10 years to her old self. 10 years later when she found that letter, which expressed her desire to make a difference in the world. Inspired by this, at the age of 18, she took a drop year, traveled, volunteered, and talked to various people.
At the end of her journey, she realized that climate control, one of the major concerns of the world, is impacting people in everyday life. To contribute to the cause and make a difference in the world, she founded her app ‘Cool The Globe’.
What is ‘Cool The Globe’?
Prachi mentioned that it is a carbon handprint app. Which means that it helps people in reducing their carbon emissions. The app is available on both the Play Store and App Store and offers more than 100 practical ways for individuals to reduce their carbon footprint in their daily lives and the app also keeps track of your carbon footprint. Every time someone uses one of these eco-friendly tips, the app keeps track of how much carbon emission is prevented.
The app already has customers from over 110 countries. Also, it has prevented a staggering quantity of 34 lakh kg of carbon emissions till now. Parchi’s ask was 25 lakhs for 5% equity.
Shark’s Reaction
Although the Sharks were impressed with the idea and motive. Some doubts were to be answered. Inshorts CEO Azhar Iqubal had concerns regarding the potential data manipulation on this, Prachi assured the sharks that stringent safeguards are in place to maintain the integrity of the app’s data. Her unwavering confidence in Cool The Globe’s transparency and reliability won over the judges’ trust, reaffirming her commitment to empowering users to make a tangible difference in the fight against climate change.
As the discussion went on, Prachi shared not only her successes but also the challenges she faced. Her journey as an entrepreneur was driven by a deep-seated passion for environmental conservation and her authenticity resonated with the Sharks, earning their respect and admiration.
Prachi Shevgaonkar gets investment on Shark Tank India
The initial ask was 25 lakhs for 5 % valuing the app at Rs 5 crore. After negotiations, Aman and Radhika offered Rs 25 lakh for 8% equity, valuing Cool The Globe at Rs 3.13 crore.
While handing over the cheque, Aman commented that his wife would be really happy as she is also someone who devotes her time and efforts to the betterment of the environment.
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