Start-ups Ambee and Foodiebaba secures funding worth Rs. 45 lakh from Mohit Goel of Omaxe and Vivek Bhargava of iProspect India respectively on the reality TV show The Vault.
Bangalore-based Ambee, a Unique Gadget to protect air pollution, secured an investment of INR 25 lakh from Mohit Goel, CEO of Omaxe Limited, in exchange of 15% equity. On the other hand, Foodiebaba, a desserts and snacks delivery service from New Delhi, managed to get a sweet deal by securing INR 20 lakh in exchange of 26% equity from Vivek Bhargava, CEO – iProspect India. The third start-up featuring on the show, BookMyChotu, a unique domestic help service, didn’t manage to cinch any offers, but got valuable advice from the investors on the show.
Jatin Goel, Creator, The Vault, said, “Given how The Vault was conceptualised as a unique platform to give aspiring entrepreneurs a chance to gain investments and visibility, we are extremely delighted with the response to the show so far. The fact that several start-ups have already secured investments from some of the leading entrepreneurs in the country is very encouraging and motivates us to aspire for greater heights. We are confident that the interest that the show has generated will play a vital role in nurturing entrepreneurship across the length and breadth of the country.”
By giving budding entrepreneurs a unique opportunity to pitch their business ideas to a panel of investors on television, The Vault has been garnering great praise for its unique approach to boost entrepreneurship in India. Open to emerging start-ups, SMEs, the student community as well as household & rural ventures, the show gives television exposure to innovative business ideas and highlights what goes on behind closed doors during an entrepreneur-investor funding pitch.