Startups in Pakistan face lots of challenges before they become successful and apart from the conception of a remarkable idea – the foremost prerequisite for any startup, the investment is another primary element that plays a role in its success.
Idea Croron Ka is the platform that takes care of the investment part and currently its Season 3 making waves. First time in its history, the platform has been able to gather PKR 40 million investment for a local startup that goes by the name BatteryLala.
And this is not it. It was the first time that a “female” investor, Shahida Saleem (Lead, Impact Network) was featured on the show and invested in a startup.
What is BatteryLala?
Battery Lala is an e-commerce platform dealing with batteries of all kinds. Their inventory includes UPS batteries, car batteries, and solar batteries to name a few. They claim to ensure installation within four hours of order placement. However, at this time BatteryLala is only operational in Islamabad and plans to expand in other areas of Pakistan. They remain undisputed in the market because courier companies do not transport acid based products.
“In the next five years I see BatteryLala as the next Daraz in the niche of batteries,” said Qamar, Founder and CEO of BatteryLala as he put forward his ask of Rs. 100 million (Rs. 10 Crore) against 30 percent equity in a recent episode of Idea Croron Ka.
Nabeel A. Qadeer – lead, content producer and host of the show, left the audience with an inspiration to look up to and brought up the four faculties any entrepreneur must have to breakthrough. He exclaimed:
“In my entire experience with entrepreneurs on this show and otherwise, this is one of the best pitches I have witnessed. This is what we call a true entrepreneur.”
Addressing Qamar, the founder of BatteryLala and the investors he continued: “You are an inspiration for a lot of entrepreneurs who are watching you right now. From passion to the knowledge of the domain, focus and desire to go big, Qamar fulfills every criterion of an entrepreneur!”
The investors also endorsed this remark and an instant investment battle between them sparked. Naeem Zamindar, Founder and CEO Zamindar Capital, started the round with asking for 15% equity against 2 crore rupees. Shahida Saleem immediately countered this, demanded third-party valuation and offered Rs. 4 Crore investment.
The negotiations led to a total of Rs. 4 crores (subject to due diligence) split between Shahida Saleem and Naeem Zamindar with sweat equity from Badar Khushnood, VP P@sha, Co-Founder Bramerz.pk, and Fishry.com! This marked the most prominent investment ever raised on a TV show in Pakistan.
Idea Croron Ka, Pakistan’s first startup reality show supported by CMACED and Superior Group, now in its Season 3, has made considerable successes in a short time span of a year and a half since its inception in January 2017. Not only does it have international organizations as its partners such as Facebook, USAID, Amazon and Turkish Airlines but has also premiered internationally in US and Russia.
This is only the third episode of this season, and the excitement has just begun!
The episode also featured pitch of one more startup, Maqami.com, and a superhero Saad Mohamed, our very own desi mountaineer. Watch the complete episode here: