CoolAnt Startup Ideas

CoolAnt seeks to take a comprehensive approach to the need for thermal comfort. If it can integrate the most recent developments in material science and technology with their conventional systems, the possibilities are enormous.their procedures are meticulously and deliberately planned to minimize environmental effects throughout and after the product's life cycle, as well as during manufacture. They aim to supply the world with CoolAnt, a simple solution built by the earth that is both effective and elegant, similar to how ants work with the soil to construct beautiful ant mounds that are sophisticated and climate-sensitive. Future generations will find that solutions like personal cooling and building envelope cooling are revolutionary. They pitched their business model in the 44th episode of Shark Tank India Season 3.

Company Details of CoolAnt Handicraft Startup Ideas

CoolAnt has the Company named ANT STUDIO PRIVATE LIMITED with a COMPANY incorporation date of 29 April 2021. This Company is registered in Delhi, India, with an authorized capital of ₹15 Lakhs and a paid-up capital of ₹1.03 Lakhs. Through collaborations, Coolant is a social enterprise that focuses on reducing global warming and energy consumption to a great extent.

Ownership of CoolAnt Handicraft Startup ideas

COOLANT was co-founded by Monish Kumar Siripurapu and Vijaylakshmi Siripurapu. He completed his study of architecture at the School of Planning and Architecture, New Delhi. He developed this project back in 2015. The owner also owns an architecture practice which is running separately.

The business model of CoolAnt Handicraft Startup ideas

The major business that the company generates is through their foil building envelopes which are sold to mainly builders by modularizing according to the sun direction, ventilation, and needs of customers, which can be installed in building facades.

Products and Services of CoolAnt Handicraft Startup

COOLANT specializes in handcrafted products including pots which are open-sourced to be used by anyone and to provide ease of accessibility to themselves also along with the modularized foil building envelopes which are developed using Computational Fluid Dynamics (CFD) and Aerodynamics having water holding capsules, both used for providing cooling in the buildings. A piece of detailed information about their services can be found at: Detailed information about their services can be found at: https://www.coolant.com/.

Business valuation of CoolAnt Handicraft Startup ideas

CoolAnt presented their pitch in Shark Tank India seeking an investment of ₹90 Lakhs for the Equity of 1% at a business valuation of ₹90 Cr.

• Aman: Aman as a consumer was ready to join hands with CoolAnt in Boat as he liked the concept of reduced energy consumption through this, but as an investor, he didn’t get excited through this category and will not be able to contribute towards the growth of the business. He also agreed with Namita’s point of overvaluation of the business. Hence, he didn’t invest.
• Namita: She developed a sense of trust deficit with the founder because of his illogical approach to valuating their company concerning sales. She also was against the concept of open-sourcing specifications. Hence, she didn’t invest.
• Ritesh: He believed that the payback value of using this product was very large for him as a consumer. He stated that commercially it is not profitable to join hands with this business model both as a consumer and as an investor. Hence, he didn’t invest.
• Vineeta: Vineeta liked the pitch by appreciating the founder’s approach of indulging the company’s USP through statistics, along with his idea of open-sourcing the company’s unproductive part. However, she didn’t find the business model investable because of the target audience of the business in the long term which she didn’t want to connect with.
• Anupam:Anupam believed that the future revenue streams of the business are very unpredictable which makes it difficult to underwrite it in any possible way. Hence, he didn’t invest.

As no sharks were convinced to collaborate with the business, the founders were able to make no deal.

Analysis of Shark Decisions of CoolAnt Handicraft Startup Ideas

The Sharks' decisions reflect several key considerations for CoolAnt:

• Valuation Concerns: Namita brought up a concern over the high valuation of the business in such an early-stage
• Growth Opportunity:Anupam pointed out the situation of scalability and growth opportunity which was not visible seeing the current circumstances of the business model and founder’s approach towards decision making.

Some key strengths and weaknesses of CoolAnt Handicraft startup ideas:

Strengths:

• Open Sourcing Unproductive Specification: Vineeta pointed out the benefits of open-sourcing which will help them to generate more business in the future.
• Sustainable Entrepreneurship: Their business model is generating profits by helping nature in two ways in the form of energy saving with a reduction in global warming.
• Reviving India’s Ancient Practice:The Technology and methods that are used in the products of this business are driven by core ancient Indian practices of cooling naturally.

Weaknesses:

• Unreasonable Valuation: Namita brought out the problem of extremely high valuation concerning their sales and future order receipts onboard.
• Lack of Standardizing: All the scaling of the business model is based on standardization and quality checks which gets compromised when the base products of the business get outsourced.
• Lack of Growth Perspectives: The business model on which the founders are operating is not scalable in the future which makes its revenue very uncertain impacting its potential to address growth opportunities.
• No Qualifiable Certification: Currently, a business has no quality certification that can prove the statements of the founder whether the product is effective to a particular scale or not.

Future of CoolAnt Handicraft Startup Ideas

The future of COOLANT rests on the founders if they are willing to merge CoolAnt and the architecture practice to establish a unique identity and try to raise capital after achieving acceptable sales which will be considerable for any investor to look forward to doing business with them and also rethinking about the measures to get quality standards and making them believable.

Conclusion

Following a pitch, COOLANT, was able to attract the interest of Sharks into the business, but throughout the pitch, after pointing out the key highlights of the business model, Sharks were concerned about the valuation of the business and its growth trajectory and hence, founders were not able to crack any deal.

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