Srinagar: Lenskart CEO Peyush Bansal and Boat CEO Aman Gupta will invest Rs 90 lakh for 7.5% equity in Srinagar based logistics startup FastBeetle at a Rs. 12 cr valuation.
‘FastBeetle’ clinched the deal after pitching their business idea on the popular television show Shark Tank.Â
“Our pitch clearly states that we need to create a startup ecosystem in the #JammuAndKashmir. We had gone @sharktankindia not to represent
@fastbeetle_ but to represent the aspiration of the 1.5 crore population of #JK.Thank you @peyushbansal & @amangupta0303 for believing in us,” FastBeetle co-owner Sheikh Samiullah said in a Tweet.Â
In 2021, FastBeetle owned by Samiullah and Abid Rashid had become the first Kashmiri startup to raise $100,000 in a pre-Series A funding round led by a clutch of angel investors including Sandeep Patel from Nepra, entrepreneurship evangelist Saurabh Mittal, Vikram Sanghvi, Rohit Qamra, and a few non-resident Kashmiris.
