Primebook Laptop Secures INR 75 Lakh Funding On Shark Tank

By India Today Tech: Shark Tank India Season 2 is streaming on the SonyLiv streaming platform. In the latest episode of Shark Tank India, a Delhi-based startup founded by IITians got offers from all Sharks. However, the firm decided to take up a Rs. 75 lakh investment from Peeyush Bansal and Aman Gupta for 3% equity. The startup Primebook received individual offers from Vineeta Singh, Aman Gupta, Peyush Bansal, and Anupam Mittal, along with a combined offer from all five sharks.

 

As the name suggests, Primebook is a made-in-India Android laptop brand that during the Shark Tank India episode, revealed their first-of-its-kind laptop for students called Primebook 4G. Commenting on getting an offer, Primebook's Co-Founders, Chitranshu Mahant and Aman Verma said, "We couldn’t have asked for a better combo of sharks. We feel fortunate to get a chance to work with both." While handing over the cheque, Bansal said that Gupta can help the team improve their hardware while he can aid in the software upgrade.

 

Primebook 4G is integrated with a 4G SIM connectivity and runs on the brand’s Android 11-based operating system, PrimeOS. The company claims that it has extensively tested PrimeOS for compatibility with over 200,000 Android apps. As far as the specifications are concerned, the Primebook 4G comes with a MediaTek MT8788 processor, an 11.6-inch HD IPS display, a 64GB storage (expandable up to 200GB), a 2MP camera, and more. The company claims that the laptop offers 8 hours of battery life.

 

In their pitch to the Sharks, Primebook's founders highlighted that even though students can reduce spending on education by 85 percent if they use a computer; only 1 out of 10 children in India get to use one. "The brand was built with a vision to empower 23 crore children in India by giving them access to a high-quality laptop that offers the best price-to-performance ratios," the company said.

Primebook further reveals that "with a current valuation of Rs. 25 crore, Primebook will utilize the raised funds to further strengthen the brand's tech infrastructure and marketing mechanism to reach its precise audience."

 

Talking about Shark Tank, Chitranshu Mahant, Co-Founder & CEO, of Primebook, said, "We are ecstatic about receiving this funding from Shark Tank. As a team, we have put our heart and soul into developing Primebook. Our vision is clear, and we want every student in India to have access to a high-quality laptop for learning at a price point similar to that of a smartphone or tablet."

 

Additionally, Aman Verma, Co-Founder & COO, of Primebook said, "We at Primebook truly believe that geniuses can be built in every home. We want to ensure that access to tech does not become a roadblock for eager learners. Rather, it becomes a conduit for their success. The investment from Shark Tank will allow us to hire the right team to help grow our vision and fortify our infrastructure to reach learners across the country."