Geeani's Affordable e-Tractor Revolutionizing Agriculture in India

Geeani is a startup company founded by Divyarajsinh Bihola, Prajal Geeta Menon, and Anitha Panikar, who are all teachers from Ahmedabad, India. They specialize in teaching students from class 5 to 12, diploma engineering students, and JEE NEET aspirants. Prajal, one of the founders, had suffered from depression after losing his mother at the age of 18, but Anitha had supported and helped him through his difficult times. Divyarajsinh is an automobile engineer who brings his technical expertise to the company.

The company's main product is the Geranium, India's first smallest and cheapest e-tractor. The product is designed to cater to the needs of small-scale farmers in India who have less than 5 acres of land. These farmers cannot afford to buy tractors and rely on renting them, which consumes 60% of their income. Geranium is a compact e-tractor that reduces the crop size and increases the yield for small-scale farmers. It is designed to be used for intercropping, which is an agricultural practice where two or more crops are grown together on the same plot of land.

AIM OF THE STARTUP

The aim of the startup Geeani is to provide a solution to small-scale farmers in India who cannot afford to buy tractors and instead rely on renting them, which consumes a significant portion of their income. The founders of Geeani have developed Geranium, India's first smallest and cheapest e-tractor, which is specifically designed for farmers with small lands. The Geranium e-tractor is lightweight, compact, and 8 times more efficient than diesel tractors. It can be used for intercropping and is designed to reduce crop size while increasing yield.

The founders of Geeani aim to improve the lives of small-scale farmers in India by providing them with an affordable and efficient alternative to renting tractors. By reducing the cost of farming, they hope to increase the income of these farmers and improve their quality of life. Their product has already gained significant attention and interest from farmers, as evidenced by the viral video and hundreds of enquiries received by the company. The founders are also teachers, which shows their commitment to education and empowering others to improve their lives.

FEATURES OF GERANIUM (COMPANY’S MAIN PRODUCT)

Geranium is an innovative product of the startup Geeani, designed specifically for small-scale farmers in India. The following are some of the features of this e-tractor:

• Smallest and cheapest e-tractor: Geranium is the first e-tractor in India designed for farmers with small lands. It is affordable for farmers who cannot buy tractors and have to spend a significant portion of their income on tractor rentals.

• Compact design: Geranium has a compact design and is only 3 feet wide, making it easy to maneuver and operate in small fields. Its compact design makes it suitable for intercropping, which can increase crop yields.

• Patented drivetrain technology: Geranium has a patented drivetrain technology that makes it more efficient than diesel tractors. This technology ensures that the tractor consumes less energy and is more sustainable for the environment.

• Lightweight: Geranium weighs only 550 kg, making it easy to transport and handle. This feature is particularly useful for small-scale farmers who may not have access to heavy machinery.

• 8X more efficient than diesel tractors: Geranium is eight times more efficient than diesel tractors, which can result in significant cost savings for farmers. This increased efficiency can also lead to higher crop yields, making it a win-win for farmers.

• Battery warranty and life: Geranium has a battery warranty of 3 years, which gives farmers peace of mind knowing that their investment is protected. Additionally, the battery life is 7 to 8 years, making it a long-term and sustainable investment for farmers.

Geranium is an innovative and affordable product designed for small-scale farmers in India. Its compact design, patented drivetrain technology, and lightweight make it easy to operate and transport, while its efficiency and long battery life provide cost savings and increased crop yields for farmers.

SALES

Geeani, a startup in the agriculture sector, is currently a pre-revenue company. However, the company gained significant traction after one of their videos went viral, leading to over 500 enquiries and over 1 lakh farmers watching the video. This indicates a strong interest and potential demand for Geeani's product.

The cost of Geeani's tractor is ?4.8 lakhs, which is lower than the cost of traditional tractors that typically cost ?5 to ?5.5 lakhs. The cost breakdown reveals that the making cost of one tractor is ?3.8 lakhs, while the battery cost is ?1.6 lakhs. This information suggests that Geeani's cost structure is competitive, which can be an advantage in attracting customers.

In terms of ownership, Prajal has a 20% equity share in the company, while Anitha has 40% equity. Anitha's two sons also have a 40% equity share. The total investment made in Geeani is ?25 lakhs.

FUNDING IN SHARK TANKS INDIA

Geeani asked for ?75 lakhs in exchange for 7.5% equity in their company, valuing it at ?10 crores. Aman initially offered the full amount in exchange for the same equity, but later joined Anupam and Vineeta in a counteroffer of ?1 crore for 10% equity.

Another shark, Amit, offered ?1.5 crore for 20% equity at a valuation of ?7.5 crores. However, Amit later revised his offer to ?1 crore for 10% equity, which was the same as the counteroffer made by Aman, Anupam, and Vineeta.

Ultimately, Geeani closed a deal with Aman, Anupam, and Vineeta for ?1 crore in exchange for 10% equity. This was a successful fundraising effort for the company, as they were able to secure the amount of funding they sought while also bringing on strategic partners who can help them grow and scale their business.