More About Eco Biotraps
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Founders of Eco Biotraps
Nitin Uttam Khope, Binal Maulik Shah, and Prasad Harish Phadke are the co-founders of Eco Biotraps.
Eco Biotraps Shark Tank Pitch and Updates
Nitin, Binal, and Prasad Harish Phadke appeared on Shark Tank India season 3 and shared details about their unique business Eco Biotraps.
Harish Phadke started the pitch by sharing the fact that mosquitos are one the deadliest things in the entire universe. Every year, lots of people die because of diseases caused by mosquitos.
In the market, there are various products available to fight mosquitos but all of them only repel mosquitos but do not prevent them from breeding. To fight with mosquitos, we need to prevent their breeding process so that they cannot reproduce and spread.
As per the founders, to solve the above problems, they built Eco Biotraps, a sustainable way to prevent mosquito breeding. The customers just need to add some water in the pot-like box and keep it on the balcony, office space, or outside the house. Their product is science-based and is approved by various scientists.
The team also tested their product in the slum area of Dharavi and got positive outcomes from the same.
After that initial pitch, the founder demanded INR 50 Lakhs for 2% equity at a valuation of INR 25 crores.
After that, the Sharks started asking various questions about their business:
- Amit Jain asked the founders about their process and how their product works.
- Anupam Mittal also asked how their product is different than other products in the market and what core technology makes them unique.
- Namita Thapar checked the price and asked the founders why people would use their product instead of a bucket with similar solutions as they are using.
- Aman Gupta asked the founders why their product is not viral yet and why nobody is talking about the product with such good capabilities.
- Vineeta Singh asked them about their pricing, B2C model, and how much area it will cover for individual customers.
After all the discussion, the founders only received one offer from Vineeta Singh. In the end, they were not able to close the deal as their expectations for the valuation were high.
| Company Name | Eco Biotraps |
| Founders | Nitin Uttam Khope, Binal Maulik Shah, and Prasad Harish Phadke |
| Headquarters | Gujarat |
| Founded Year | 2019 |
| Business | Preventing Mosquito Breeding |
| Profitability | Yes |
| Shark Tank Episode | Season 3 – Episode 18 |
| Asked For | INR 50 Lakhs for 2% equity |
| Deal | No Deal |
| Sharks Invested | No Deal |
| Valuation Given | No Deal |
| Website | Click Here |
Eco Biotraps was not able to secure a deal on Shark Tank India because they were asking higher valuation as compared to what Shark Vineeta Singh offered them.
Frequently Asked Questions About Eco Biotraps
After their appearance on Shark Tank India Season 3, people tried to find more information about Eco Biotraps. So here are some of the frequently asked questions about them.
1. Who Is The Founder of Eco Biotraps?
Nitin Uttam Khope, Binal Maulik Shah, and Prasad Harish Phadke are the co-founders of Eco Biotraps.
2. Is Eco Biotraps From Shark Tank India profitable?
Yes, Eco Bio Traps is a profitable company and had a net profit margin of 4% on revenue of around 86 lakhs.
3. What happened to Eco Biotraps after the Shark Tank?
Eco Biotraps was not able to secure funding from Shark Tank India season 3. However, they are working on scaling their business in both B2C and B2B segments.
4. What Is The Valuation of Eco Biotraps?
Eco Biotraps came for an invest in Shark Tank India season 3 at a valuation of INR 25 crores.
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