Fri, Dec 9, 2016 | updated 03:06 PM IST

Ambee, Foodiebaba secure investments by Mohit Goel of Omaxe; Vivek Bhargava of iProspect

Updated: Oct 25, 2016 18:55 IST
New Delhi [India], Oct 25 (ANI): With more than Rs. three crore already invested into promising ventures in just two episodes, the funding windfall on The Vault, a one-of-its-kind reality show in India, shows no signs of abating.

The latest episode of the show, aired on television recently, saw the entrepreneurial dreams of two start-ups - Ambee and Foodiebaba who have fulfilled with a cumulative investment of Rs. 45 lakh by investors on the show.

Bangalore-based Ambee, a Unique Gadget to protect air pollution, secured an investment of Rs. 25 lakh from Mohit Goel, CEO - Omaxe Limited, in exchange of 15 percent equity.

On the other hand, Foodiebaba a desserts and snacks delivery service from New Delhi, managed to get a sweet deal by securing Rs. 20 lakh in exchange of 26 percent equity from Vivek Bhargava, CEO - iProspect India.

The third start-up featuring on the show, BookMyChotu, a unique domestic help service, didn't manage to cinch any offers, but got valuable advice from the investors on the show.

"Given how The Vault was conceptualized as a unique platform to give aspiring entrepreneurs a chance to gain investments and visibility, we are extremely delighted with the response to the show so far. We are confident that the interest that the show has generated will play a vital role in nurturing entrepreneurship across the length and breadth of the country," said Creator The Vault, Jatin Goel.

By giving budding entrepreneurs a unique opportunity to pitch their business ideas to a panel of investors on television, The Vault has been garnering great praise for its unique approach to boost entrepreneurship in India.

Open to emerging start-ups, SMEs, the student community as well as household and rural ventures, the show gives television exposure to innovative business ideas and highlights what goes on behind closed doors during an entrepreneur-investor funding pitch. (ANI)