Tohands Founders Praveen Mishra, Shanmuga, and Satyam won the hearts of people on Shark Tank Season 3 with their impressive pitch and clarity of thought. The company focuses on solving the problems of shopkeepers at a root level by maintaining a ledger of transactions they make daily. Everyone found the idea impressive and liked the founder’s spirit. After the show’s release, everyone is curious to know more about Tohands founder’s journey as they get a great deal with Shark Radhika Gupta and Shark Varun Dua.

Who Are Tohands Founders Praveen, Shanmuga, And Satyam? Tohands Shark Tank Journey, Funding, Revenue, And More:

Tohands Founders are Praveen Mishra, Shanmuga Vidivel S, and Satyam Sahu residing in Bangalore. Co-founder and CEO Praveen belongs to Pratapgarh, Uttar Pradesh. He completed his schooling at New Angels Sr Secondary School in his hometown only. Later, he started studying Bachelor’s in Arts and Economics at Somaiya Vidyavihar University in Mumbai. However, he dropped out after his first year and decided to build something of his own.

Praveen did two small courses. One was from MITx Courses in Logistics and Supply Chain Management. The other was in Marketing and Product from GrowthX. His co-founder Shanmuga completed his engineering from Konga Engineering College in Erode. He belongs to Tamil Nadu and has experience in hardware. While, the third co-founder Satyam belongs to Kanpur, Uttar Pradesh, and completed his engineering from Rajkiya Engineering College, Banda. Among the three of them, Praveen is the youngest one at the age of 22 years. While, his co-founders, Shanmuga is 26 years old and Satyam is 31 years old.

Praveen has 6 years of experience in the field. He worked on ByBuy Seller App where he had 7,000 customers. The app’s philosophy was to help shopkeepers create their shops online and help them sell their products in their cities. While he was onboarding customers through their shops, he met an aunt in Bangalore. She used to write the item amount on a paper calculate it with a calculator, and write again on the paper. Praveen is a believer in teamwork. He handles marketing while his co-founders handle hardware and software. They have their majority of sales online, which their team of 22 people handles altogether.

Tohands Shark Tank Journey: How Tohands Founders Make A Deal In Shark Tank?

Tohands presents their smart calculator business idea on Shark Tank Season 3 and ask for Rs. 55 Lakhs for 1% equity of the company. Praveen and his co-founders noticed the regular problem of all the shopkeepers in recording transactions. As many transactions have gone online. There are still many transactions that are on a borrowing basis. They present a smart calculator Tohands on the show.

The sharks find Praveen’s idea highly impressive and scalable. Shark Varun Dua offers Rs. 30 Lakhs for 1% equity and Rs. 25 Lakhs as debt @12% interest for 2 years at the valuation of Rs. 30 Crores. Shark Radhika also makes the same offer and later joins Varun Dua in his offer. Apart from them, Shark Anupam offers Rs. 55 Lakhs at 1.5% equity for Rs. 36.37 Crores valuation. Shark Varun and Radhika change the offer to Rs. 30 Lakhs for 1% equity and 25 Lakhs debt for 10% interest for 2 years.

The founders asked for debt debt-free offer so they revised the offer to Rs. 60 Lakhs for 2% equity at a Valuation of Rs. 30 Crores. Where Shark Anupam is alone and Shark Radhika and Shark Varun are together in the deal. They counteroffer Rs. 80 lakhs for 2% equity to all three sharks at a valuation of Rs. 40 Crores. Shark Anupam went out of the deal. They accepted the deal from Shark Radhika MD & CEO of Edelweiss Mutual Fund and Shark Varun Dua Founder and CEO of Acko for Rs. 60 Lakhs for 2% equity at Rs. 30 Crores valuation. Overall, Tohands shark tank journey has been good and educating for the viewers.

Tohands Smart Calculator Price:

Tohands Smart Calculator has options to calculate the Sales through the Cash In button and expenses through the Cash-Out button. The data entered in the calculators gets saved to their accounts on the Tohands App automatically. In India today, many shopkeepers don’t have any recording system. Thus, it will help the shopkeepers to save the additional cost of marinating financial records through expensive software. Tohands final product in the market will be version 4. Their website is also going through some speed and loading issues and is not opening at the moment. However, Tohands Smart Calculator price for version 4 will be Rs. 5,000 per piece.

Tohands Funding & Revenue:

Tohands have taken funding before Shark Tank as well. They raised a pre-seed round with T Hub and some other investors for Rs. 55 Lakhs in the previous year. After that, they raised a seed round for Rs. 3 Crore at Rs. 29 Crore Valuation. Tohands starts its sales in January 2023 and has the following revenue:

Jan 2023: Rs. 1.5 Lakhs
July 2023: Rs. 13 Lakhs
November 2023: Rs. 3.5 Lakhs

They had a fall in their sales after they went out of inventory in November 2023. However, they have 5,600 customers on the waiting list on their website which will help them lift sales further. Praveen owns 37% of the company, Satyam has 23%, Shanmuga has 13%, and 8% is ESOP. They have their earning model on a subscription basis where customers can see their last seven days’ transactions free of cost. To look into their monthly transactions, they need to have a Rs. 59 subscription per month, which will be available on version 4. They are available on Instagram as @tohands_. Keep reading with Charcha Times for more information.