Astrix Engineering Shark Tank Deal Update: Coimbatore Based Startup Fails to Get a Deal!

Shark Tank India begins yet another week with a new range of exciting, aspirant startup founders from different parts of India. The Sharks for this week’s episodes in Shark Tank India will be Peyush Bansal (Lenskart), Namita (Emcure Pharma), Ghazal Alagh (MamaEarth), Vineeta Singh (Sugar Cosmetics) and Anupam (Shaadi.com).

Astrix Engineering is founded by a vibrant couple from Tamil Nadu and her mother who are on a mission to makes locks ‘smart’ across India. Astrix Engineering aims to bring smart locks with good customer support to the Indian market.

Shark Tank India Episode 31 Companies List

• AyuRythm
• Astrix Engineering
• Saptkrishi
• Scrap Shala

What Happened to Astrix Engineering in Shark Tank India?

• Astrix Engineering is founded by enterprising entrepreneurs, Sreepriya and Kowshik  who entered the Shark Tank with a mission to provide smart locks and lockers.
• Astrix Engineering came into the Shark Tank India platform asking for INR 75 Lakhs for 3% equity in their exciting smart locks based company, ‘Astrix Engineering’.
• Astrix Engineering contains an array of smart locks under the AX100 product line. The revenue of Astrix Engineering was about INR 18 lakhs in the last month with a project revenue of INR 50 Lakhs in the upcoming month.
• Astrix Engineering manufactures in India. However, the Sharks did not get a lot of traction towards the intention of making it in India.
• The issue with competition and pricing with the current business model turned off the interest from majority of the Sharks. Also, Astrix Engineering has a very minimal footprint in the online sales market.
• Hence, Astrix Engineering did not a deal from the sharks in Shark Tank India.

Astrix Engineering Shark Tank India Deal or No Deal?