Primebook's Educational Laptop, Primebook4G, Secures INR 75 Lakh Funding on Shark Tank Season 2 With a current valuation of INR 25 crore, Primebook will utilize the raised funds to further strengthen the brand's tech infrastructure and marketing mechanism to reach its precise audience
By Teena Jose •
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Fostering a new realm in the learning ecosystem Primebook, a revolutionary made-in-India Android laptop brand, has revealed their first-of-its-kind laptop for students – Primebook 4G on Shark Tank Season 2. Having piqued the interest of four out of the five sharks, the brand received individual offers from Vineeta Singh, Aman Gupta, Peyush Bansal and Anupam Mittal, along with a combined offer from all five sharks. Given its interesting value proposition, the brand accepted and secured INR 75-lakh investment from Peeyush Bansal and Aman Gupta for 3% equity. With a current valuation of INR 25 crore, Primebook will utilize the raised funds to further strengthen the brand's tech infrastructure and marketing mechanism to reach its precise audience.
"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, 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 / tablet," said Chitranshu Mahant, co-founder and CEO, Primebook.
The episode featured an interesting banter between the sharks and the team where a series of questions about the laptop, scalability of the brand, choice of operating system, quality of hardware and price points were discussed. Primebook's founders and the team highlighted that even though students can reduce spending on education by 85% if they use a computer; only 1 out of 10 children in India get to use one. Therefore, the brand was built with a vision to empower 23 crore children in India by giving them access to a laptop that is high quality and offers the best price to performance ratios, claimed by the company in a statement.
Primebook 4G will be integrated with a 4G wireless sim connectivity and the brand's proprietary Android 11-based operating system- PrimeOS, which is extensively tested for compatibility with over two lakh android apps that can aid learning. Over the last four years, Primebook has witnessed tremendous success in the B2B category and is now on the pathway to further expanding its operations in the B2C segment, the statement added.
"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 so that we can reach learners across the country," said Aman Verma, co-founder and COO, Primebook.
