Sama
Introduction
The pitch began with a captivating Bollywood dialogue underscoring the pervasive issue of delayed justice in India, illustrating the immense backlog of cases and the shortage of judges. The entrepreneurs, Pranjhal Sinha, Vikram Kumar, and Akshetha Maithri Ashok, introduced their venture, Sama, as an Online Dispute Resolution (ODR) platform designed to resolve disputes completely online, leveraging legal processes like mediation and arbitration.
Business Proposal
Sama aims to bridge the gap in India's judicial system by providing a platform for out-of-court settlements, specifically targeting the backlog of cases and the inefficiency plaguing the justice delivery system. Utilizing technology, Sama offers online mediation and arbitration services that vow to solve cases within three months, as opposed to the years it traditionally takes in court.
Marketing and Business Strategy
Sama's approach to gaining traction included a unique campaign titled "Resolve, but with love," alongside grassroots efforts like pamphlet distribution and engaging with the public through performances and singing. Their service, broadly appealing to both businesses and individual consumers, focuses on contractual clauses that propose Sama as the primary resolution service for disputes, engaging with entities like banks to embed their solution into the conflict resolution process inherently.
Investment Request
The team requested an investment of INR 1 crore for a 1% equity stake in the company, highlighting a valuation of INR 100 crores.
Outcome
The sharks showed keen interest, yet the outcome evolved into a negotiation over equity and investment amount. Finally, the entrepreneurs received an offer from three sharks, committing to the sought investment amount in exchange for an equity stake that was negotiated down from the original ask.
Key Takeaways
The key takeaways include the innovative approach to solving a traditional problem through technology, the clear social impact by providing a faster resolution to legal disputes, and the scalability of the model across various sectors that require dispute resolution.
Conclusion
Sama represents a transformative approach to legal disputes, embracing technology to offer rapid, cost-effective, and amicable resolutions. The engagement from the Shark Tank India investors underscores the potential for such innovative solutions to make significant social impacts, beyond their immediate market success.
| Key | Details |
|---|---|
| Valuation | INR 66.67 (after deal) crores |
| Turn Over | INR 6.4 crores till Nov 2023 (FY 23-24), with a target of reaching INR 12 crores |
| Profits | Aiming for a net profit margin of 20-25% |
| Number of Sales/Customers | Handled disputes through 3,000+ mediators/arbitrators, resolving 35 lakh (~3.5 million) cases |
| Target Sector | Legal, Mediation, Arbitration |
| Original Ask | INR 1 crore for 1% equity |
| Deal | INR 1 crore for 1.5% equity |
| Deal By | Namita Thapar, Aman Gupta, Ritesh Agarwal |