Srinagar (Jammu and Kashmir): In a major achievement for Kashmiri entrepreneurs, Srinagar-based logistic courier company 'FastBeetle' has become the first company from Jammu and Kashmir to feature in Shark Tank India, a major business reality TV series. Shark Tank India is a franchise of the famous American show Shark Tank.
Speaking on the development, one of the co-founders of the company Sheikh Samiullah, told ETV Bharat on the phone that they received a positive response from all the Sharks (judges) on the panel during their pitch in the program.
"FastBeeltle will be featured on the show this week. Due to the confidentiality agreement, I can’t disclose the deal until the episode is aired on television. But with Almighty's grace, we have done good,” Samiullah said.
Also read: FastBeetle becomes first Kashmiri startup to raise 10 lakh dollars investment
While explaining the process of the show, he said that they had to go through three rounds of auditions before reaching the final round and pitching an investment proposal to the panel. According to the program format, the entrepreneurs have to fill out the form mentioning their business. Once the form is received, the selected entrepreneurs then have to be on a video call with a Shark team to explain their pitch.
After clearing the second round, the entrepreneurs are called to the studio in Mumbai, where they meet with the Shark team off-camera. “All the Sharks were impressed with our work and growth, and gave encouragement too,” Samiullah said adding "We are working with all the big brands in India with a turnover touching Rs 3 crore annually. "
" The company is affiliated with major brands like Flipkart, Jio Mart, and Snapdeal. We deliver around 2000 to 3000 products per day. We also deliver products internationally as well," he added.
Pertinently, FastBeetle, an e-commerce company in Kashmir, is run by two childhood friends and was started in October 2019 from the alleys of Srinagar’s old city area or Shehr e Khass. Pertinently, in December 2021, FastBeetle became the first Kashmiri startup to raise $100,000.
