Kashmir-based e-commerce startup raises Rs 90 lakh in reality show competition

Kashmir-based e-commerce startup raises Rs 90 lakh in reality show competition

Co-founder Samiullah: I by no means thought we’d current our enterprise concept to sharks

Fastbeetle, a Kashmir-based startup, raised Rs 90 lakh in a actuality present competitors, elevating hopes that the three-year-old firm will develop its operations to different elements of the nation.
First, Lenskart CEO Peyush Bansal and Boat CEO invested Rs 90 lakh for 12cr 7.5% fairness in Srinagar-based logistics startup @fastbeetle_ Congratulations @_iamsamiullah and @_abidrashid. A really proud second for J&Ok’s startup ecosystem,” Bishmah Malik, a journalist, tweeted.
‘FastBeetle’ is the primary e-commerce enterprise from J&Ok, featured in Season 2 of a number one enterprise actuality TV collection “Shark Tank India”, the franchise of the well-known American present Shark Tank.
The startup, which began its actions in Kashmir in 2019, emerged as a giant firm that may change its destiny within the coming days after the brand new curiosity proven by ‘Sharks’.
Launched within the again streets of Srinagar’s previous metropolis in October 2019, “FastBeetle” is run by two pals Sheikh Samiullah and Abid Rashid. to well-known sharks,” Samiullah tweeted.
“I wished to take a second to specific my deepest gratitude in your arduous work and dedication. Collectively, we’ve reached an vital milestone and this might not have been achieved with out every of you. I look ahead to reaching even better issues sooner or later.”
Shark Tank India is a well-liked actuality TV present that provides enterprise homeowners the chance to current their entrepreneurial idea and probably receive financing from a gaggle of financiers generally known as “sharks”.
Based mostly on the American model of Shark Tank, the present has change into more and more well-liked with audiences in India and throughout the planet.
“Fastbeetle” is among the 198 Startups that made it to the finals. Out of eight lac entrepreneurs who utilized for season 2, solely 198 made it to the finals.

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