Pitch Introduction
Torch-it Shark Tank pitch opened Episode 7 with a bold ₹75 lakh ask for mere 1% equity—an eye-popping ₹75 crore valuation that instantly polarised the Sharks.
Founder Harsh Songra stepped into the tank carrying a white cane and a palm-sized clip, claiming both could replace the traditional white stick for India’s 5 million visually impaired citizens. His seven-minute demo turned the studio into a silent corridor as the Sharks closed their eyes and trusted his device.
Business Overview
Torch-it builds ultra-sonic mobility aids that convert spatial distance into vibrational feedback. The flagship SmartCane clips onto any white cane and buzzes faster as obstacles approach. A pocket-size Echo module works standalone for free-hand navigation. Both recharge in 3 hours and sell at one-third the price of imported competitors.
The start-up solves two pressing gaps: high-cost of global assistive tech and low-awareness among tier-2/3 rehab centers. With patents filed in India & USA, Torch-it targets visually impaired students, working professionals and elderly looking for dignified, independent mobility.
| Company Detail | Data |
|---|---|
| Founded | 2018, Ahmedabad |
| SKUs | 2 (SmartCane & Echo) |
| Patents | 2 filed, 1 granted |
| MRP Range | ₹2,499 – ₹3,999 |
| Revenue FY21 | ₹26 lakh |
| Monthly Sales | ₹1 lakh |
About Founder’s
Harsh Songra, a 27-year-old computer-engineer from Ahmedabad, was diagnosed with Developmental Coordination Disorder at age 11. While interning at Google India in 2017 he met a blind colleague who tripped on an uneven footpath—triggering the idea of affordable haptic feedback. Harsh roped in childhood friend Shreya Javeri (industrial designer) and built the first prototype in college hostel using Arduino and ₹7,000 pocket money.
- Featured on Forbes Asia 30U30 list 2021
- Ashoka Young Changemaker 2019
- Raised ₹23 lakh via Ketto crowdfunding in 2020
- Bootstrapped first 2,000 units selling through rehab centres
Shark’s and Founder’s QnA
Namita Thapar:
Why such a crazy ₹75 crore valuation when your topline is only ₹26 lakh?
I benchmarked global med-tech multiples. Our assistive tech IP is scalable across 192 countries that signed the UNCRPD. One patent licensing deal alone could exceed today’s revenue.
Aman Gupta:
What stops boAt from adding an ultrasonic sensor to earphones and cannibalising you?
Medical-grade ultrasound needs narrow 40 kHz frequency; consumer electronics work at 25 kHz. Our algorithm is trained on 1 lakh+ Indian obstacle profiles—dataset that took 3 years.
Peyush Bansal:
Show me live data—how many units sold last month?
96 SmartCanes and 44 Echo modules, total ₹1.08 lakh revenue. Average selling price ₹2,800; gross margin 52%.
Vineeta Singh:
Your marketing seems NGO-flavoured. How will you reach paying retail users?
We piloted a subscription programme with 23 blind schools—parents pay ₹249/month for 10 months and own the device. Default rate below 3%.
Anupam Mittal:
I’ll give you ₹75 lakh, but 1% is insulting. Take it as 1% royalty until ₹1.5 crore is recouped, then 1% equity. Deal?
That’s creative, but royalty caps upside. Can we do half royalty half equity?
Anupam Mittal:
My offer is non-negotiable; 60 seconds to accept.
I respectfully decline. I need a partner, not a lender.
Key Stats & Financials
Torch-it entered the tank with honest early-stage numbers—no bluff, no debt, but also no explosive scale yet. Below are the exact figures extracted from the pitch conversation.
- Sales FY 2020-21: ₹26 lakh
- Margins: 52% gross on hardware, 70% on accessories
- Valuation Asked: ₹75 crore (1% for ₹75 lakh)
- Investment Request: ₹75 lakh for 1% equity
- Break-even: Month 28 at current run-rate
| Metric | Amount |
|---|---|
| Monthly Burn | ₹90,000 |
| Cash-in-bank | ₹4 lakh |
| Inventory (units) | 1,100 |
| Patent filing cost | ₹18 lakh to date |
| Customer acquisition cost | ₹240 via NGOs |
Business Potential and TAM
India has 4.95 million blind & 22 million visually impaired individuals—yet only 300k white canes sold annually. Government’s ADIP scheme reimburses ₹5,000 per assistive device, creating a ₹150 crore funnel that Torch-it can tap. Globally the assistive tech market will hit $31 bn by 2027; even 0.1% share equals $31 m opportunity.
- Govt tenders mandate 3% public procurement from disabled-owned firms—qualification edge.
- UNCRPD pushes member states to subsidise mobility aids—regulatory tailwind.
- Corporate CSR spends $2.5 bn yearly in India; disability inclusion is new KPI.
- Export potential to Africa & SEA where white-cane penetration below 10%.
Torch-it Ideal Target Audience & Demographics
| Demographic | Details |
|---|---|
| Age | 8-60 years (school & working age) |
| Geography | Urban & tier-2 towns with rehab centres |
| Economic profile | Family income ₹3-10 lakh, reliant on subsidies |
| Buyer persona | Parents of blind kids, CSR heads, NGOs |
| Total addressable users | 5 million in India, 285 million worldwide |
Marketing and Distribution Strategy
Torch-it runs a hybrid B2G-B2C model. Domestically it piggybacks on National Blindness Control Programme’s district camps; state governments invite bids for 500-2,000 units every quarter. For retail pull, founder Harsh hosts Torch Walks—blindfold city walks where influencers experience the device; videos clock 1.2 m views on Instagram Reels, converting at 4.3% with coupon code SHARKWALK.
- Instagram micro-influencers → demo reels → Amazon & website checkout.
- Partnership with 147 blind schools for in-curriculum training & parent financing.
- CSR consortium with L&T, Infosys and Tata Trusts for bulk procurement.
- International roadmap: UAE distributor signed MOQ 5,000 units; FDA 510(k) filing 2025.
Torch-it Deal Outcome
Despite Anupam Mittal’s dramatic conditional offer, no equity deal materialised on air. Founder stuck to principle—no royalty structure that caps upside—walking away without dilution but with national visibility that spiked web traffic 18×.
| Deal Metric | Outcome |
|---|---|
| Offer received | ₹75 lakh @ 1% royalty until ₹1.5 cr recouped + 1% equity thereafter |
| Counter proposal | ₹75 lakh @ 0.5% royalty + 0.5% equity |
| Final status | No handshake, founder declined |
| Air-date stock-out | 1,100 units sold in 72 hrs |
Torch-it Post-Show Update
Within four months of the episode, Torch-it closed a pre-Series A of ₹4.2 crore led by Venture Catalysts at a ₹32 crore valuation—57% below the original ask but 4× revenue run-rate multiple. Funds earmarked for ISO 13485 facility, capacity scaling to 10,000 units/month and US FDA registration by 2026. New product Torch-eye—a wearable chest strap—previewed at CES 2023 and bagged the Accessibility Innovation Award.
Business Analysis & Lessons
Torch-it epitomises impact-first entrepreneurship—patentable tech solving a deep social need with measurable outcomes (reduced collision incidents by 84% in user trials). Yet the pitch exposed classic early-stage pitfalls: an aspirational valuation without commensurate revenue, and thin go-to-market moat beyond patents.
Key takeaway—when valuation psychology meets venture reality, creative structures (royalty-then-equity) can bridge the gap, but founders must weigh cost of capital versus control. Torch-it’s refusal preserved cap-table but delayed cash infusion; fortunately, post-show buzz attracted alternate investors at friendlier terms.
- Validate pricing power before peging 250× revenue multiple.
- Offer conditional instruments (royalty/SAFE) to de-risk Sharks.
- Leverage national TV reach to accelerate crowdfunding & B2G pipelines.
- File global patents early; emerging markets respect IP during tenders.