Last Updated:
Started in 2021, Cograd rents closed schools and transforms them into state-of-the-art learning centres with equal opportunities for all kids.
Cograd is currently running five schools for students from classes 1 to 8. (Photo Credits: Instagram)
Shark Tank India season 4 is going on in full swing, captivating viewers with the exciting pitches, intense negotiations and high-stakes business deals. In the business reality show, aspiring entrepreneurs from across the country are stepping in, competing to secure investment from the esteemed panel of sharks. The season has kept audiences hooked with groundbreaking ideas and innovative products, and the latest episode was no different. The makers dropped a video showing the creative minds, Himanshu Chaurasia and Saurabh Yadav, introducing their startup, Cograd, to the panel of ‘sharks.’
Explaining their social startup, the IIT and NIT alumni revealed that their startup provides affordable, quality education for students and training for teachers that can transform rural education. For their business, the founders sought an investment of Rs 1 crore in exchange for 2 per cent equity.
Starting in 2021, Cograd rent closed schools and transform them into state-of-the-art learning centres with equal opportunities for all kids. Currently, they are running 5 schools that cater to students from classes 1 to 8. The founders revealed they plan to open 1000 schools and then showed photos of their schools running in the villages to the sharks.
Watching the glimpses, shark Anupam Mittal comments, “Humne picturein kuch zyaada he dekh he maine kuch aur he visual kiya, pedh ke neeche bacche baithe hue hain. Mera khud ka ab school jaane ke mann ho raha hai. (We have seen too many pictures. I have some other visuals in my mind, children are sitting under a tree. I feel like going to school now).”
The entrepreneurs further revealed that the students participate in various competitions and conclaves at prestigious universities in India. Ritesh Agarwal says, “Mere rongte khade hogaye aapki baatein sun kar. (I am getting goosebumps hearing you).”
Elaborating further, the founders said that Cograd hires teachers through the Jawahar Navodaya Vidyalaya (JNV) alumni network. Himanshu and Saurabh shared that 80 per cent of their revenue comes from the non-scalable part of the business, which is skill training and teacher training.
The Shaadi.com founder appreciated their vision but backed out from the deal, saying he doesn’t understand where they are heading. Shark Kunal also backed out as he felt the founders had a lack of focus.
SUGAR Cosmetics founder Vineeta steps in and praises Saurabh and Himanshu’s efforts. She then talked about her father and revealed how education changed things for him. Revealing that her father lost his parents before he was 5 years old, she said, “There’s a village named Barispur, it was the same thing there; he would walk 6 km barefoot to school, and no one taught in the schools. He sat on the tree and studied while farming. He did all that and completed his BSc, MSc, and PhD, and today he is one of the most reputed scientists at AIIMS who created the maximum structures possible in the world for cancer research. He would tell me one thing a lot as a child. Education is one opportunity that can change your life.”
Following this, she offered them a deal of Rs 50 lakhs for 10 per cent equity plus Rs 50 lakhs debt at 10 per cent interest for 3 years for a school business. Ritesh and Namita collaboratively offered Rs 50 lakhs for 5 per cent equity plus Rs 50 lakhs in debt at 9 per cent interest for 3 years. All the sharks had a condition that they must focus on school business.
After a quick chat, the founders gave a counteroffer of Rs 50 lakhs for 2.5 per cent equity and Rs 50 lakhs debt or the same. In the end, the deal was finalised at 50 lakhs for 6 per cent equity, plus 50 lakhs in debt at a 9 per cent interest rate for three years by Ritesh, Vineeta, and Namita.
