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Hammer Lifestyle is a smart ed-tech startup founded by Chand Bhatia, Rohit Adanani, and Rohit Singla. The company produces a range of tech products including Bluetooth headsets, smart sockets, wireless chargers, electric toothbrushes, and more. Their products were featured in the first season of Shark Tank India, and their vision is to reach a PAN India audience.
The aim of Hammer Lifestyle, the smart ed-tech startup, is to provide innovative and affordable technology products to customers in India. Their vision is to reach a PAN India audience, which suggests that they aspire to expand their customer base across the country. By offering a range of tech products, such as Bluetooth headsets, smart sockets, wireless chargers, and electric toothbrushes, the company seeks to tap into the growing demand for smart devices in India. The overall aim of Hammer Lifestyle is to become a leading player in the Indian market for tech products, catering to the evolving needs and preferences of customers.
The business model of Hammer Lifestyle is to produce and sell innovative and affordable tech products in India. They have a range of products including Bluetooth headsets, smart sockets, wireless chargers, electric toothbrushes, and smartwatches. The company appears to have a focus on developing products that are easy to use and offer added convenience to their customers. They sell their products online through their website and also through various e-commerce platforms.
Hammer Lifestyle's target market is likely to be tech-savvy individuals in India who are looking for affordable and convenient tech products. They have two variants of smartwatches priced between Rs. 2500 to Rs. 3500, which suggests that they are targeting customers who want to buy affordable yet high-quality smartwatches with calling facilities. Given that the company's vision is to reach a PAN India audience, they are likely targeting a wide range of customers across different age groups and demographics.
Hammer Lifestyle was started in the year 2019 and has served 1.50 lakh customers to date. The valuation of the company is 10 crore. In terms of revenue, the company generated sales of about 2.5 crore in the financial year 2019-20, which increased to 5 crore in the year 2020-21. As of now, in the current financial year, the company has generated a turnover of 6 crore rupees. Additionally, they have projected sales of about 10 crore for the current financial year.
Based on this information, we can see that Hammer Lifestyle has experienced significant growth in revenue since its inception in 2019. The company's revenue has doubled from 2.5 crores in 2019-20 to 5 crores in 2020-21. They are projecting sales of 10 crores in the current financial year, which is a significant increase from the previous year.
Hammer Lifestyle pitched for 30 lakhs for 3% equity in the company. Namita Thapar and Peyush did not show any interest in the pitch, while Aman asked Rohit to sell the company for 1 crore rupees i.e. 100% equity for 1 crore, which was rejected.
Anupam and Ashneer counter offered 1 crore for 25% equity in the company. However, Anupam later backed out due to conflicts in Rohit's mind. Ashneer then offered 1 crore for 25% equity, and Aman countered with 75% equity for 1 crore rupees. Aman revised the deal again for 50% equity for 1 crore rupees, which was then reduced to 40% equity for 1 crore. Ashneer Grover then made a final counter offer for 20% equity for 1 crore rupees.
The final deal was eventually closed by Aman for 40% equity for 1 crore rupees. This means that the valuation of Hammer Lifestyle was approximately 2.5 crore rupees.
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