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Solinas is an end-to-end sanitation asset management company that is dedicated to checking and cleaning critical public assets like pipelines, manholes, and septic tanks. The founders of Solinas hail from different parts of India, and they have come together to solve one of India's most significant problems - manual cleaning of septic tanks, which can lead to the death of people due to poisonous gas produced from the waste in the septic tank.
The aim of Solinas is to provide a safe and efficient solution for cleaning septic tanks, and they have introduced the brand Solinas to address this problem. Their first product, HomoSEP, is a septic tank cleaning robot that is used to clean the tank without manually going into the tank. Their second product, Endobot, is a sewer and water pipeline inspection robot that makes the process of inspection easy and simple. They launched their products in the year 2020.
Solinas has two unique selling points. The first is the HomoSEP, which is a modern and efficient way of cleaning septic tanks without the need for manual intervention. This product has the potential to save many lives and is a huge breakthrough in the sanitation industry.
The second USP is Endobot, which is a pipeline inspection robot that can detect leakage and blockage inside the pipeline. This product is an efficient way of inspecting pipelines, and it eliminates the need for manual intervention, making it a safer and more cost-effective solution.
Solinas is an end-to-end sanitation asset management company that checks and cleans critical public assets like pipelines, manholes, etc. The company has a range of three products, two hardware and one software. Their first product is HomoSEP, a septic tank cleaning robot that cleans the tank without the need for manual labor. The second product is Endobot, a sewer and water pipeline inspection robot that makes the process of inspection easy and simple. The business model for HomoSEP is a product-based model, with the cost of the machine ranging from 15 to 25 lakhs rupees with all its accessories. The business model for Endobot is a service-based model, with the company offering inspection and cleaning services for sewer and water pipelines.
Solinas' target market includes public and private organizations that own and manage critical sanitation assets, such as government agencies, municipalities, property management companies, and industrial facilities. These organizations face several challenges, including the need to comply with regulations related to the maintenance and cleaning of their sanitation assets, as well as the health and safety risks associated with manual cleaning.
By offering a range of sanitation asset management solutions, Solinas aims to address these challenges and provide a safer and more efficient way to manage sanitation assets. The company's products and services are designed to help these organizations save time and money while ensuring compliance with regulations and minimizing the risk of accidents and injuries.
Solinas' target market is particularly relevant in India, where manual cleaning of septic tanks and pipelines is a significant problem, and many organizations struggle to comply with regulations related to sanitation asset management. The company's products and services offer a much-needed solution to these challenges, and as such, Solinas has the potential to make a significant impact on public health and safety while also generating revenue for the company.
Solinas had a total sales revenue of 1.2 crore rupees in FY 2021-22, with a projected annual recurring revenue (ARR) of 5 crore rupees in FY 2022-23. The sales are split into 3 crore rupees from HomoSEP product sales and 2 crore rupees from Endobot robot services.
Solinas' gross margin for product sales is around 60%, while the gross margin for services is between 55-60%. These numbers reflect Solinas' ability to generate revenue while maintaining healthy profit margins, which is critical for any startup's growth and long-term success.
The company's projected ARR for the upcoming year suggests a significant increase in sales revenue, which is a positive sign for Solinas. It indicates that the market for sanitation asset management solutions is growing and that the company's products and services are in demand.
Solinas founders Divanshu Kumar, Bhavesh, Moinak Banerjee, and Linda Jasline, presented their startup on Shark Tanks India in hopes of securing funding to further grow their business. They asked for an investment of ?90 lakhs in exchange for a 2% equity stake, valuing their company at ?45 crores.
During the pitch, the founders explained the problem of manual cleaning of septic tanks, which is a hazardous and often deadly job. They introduced their company Solinas, which offers an end-to-end sanitation asset management solution to help mitigate this issue. Their first product, HomoSEP, is a septic tank cleaning robot that cleans the tank without requiring manual entry. Their second product, Endobot, is a sewer and water pipeline inspection robot that simplifies the inspection process.
The founders showcased their products, highlighting their unique features and benefits, and provided details on their business model and revenue projections. They received offers from multiple Sharks, including Amit and Namita, who offered 52 lakhs for 2% equity and 38 lakhs at 10% interest, and Peyush and Anupam, who offered 90 lakhs for 3.35% equity.
After considering multiple offers and counter-offers, Solinas finalized a deal with Peyush and Anupam for 90 lakhs in exchange for a 3% equity stake. The founders expressed their gratitude for the opportunity and the valuable feedback they received from the Sharks.
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