Sat, Dec 10, 2016 | updated 08:29 AM IST

Medmonk and Boxershots secure funding in the first episode of The Vault

Updated: Oct 12, 2016 17:52 IST

New Delhi[ India], Oct. 12(ANI) : The first episode of The Vault, a one-of-its-kind reality show in India, has been launched on TV amidst massive fanfare.

The inaugural episode saw four start-ups - Authenticook, Medmonk, Boxershorts and Fishappy make their pitches to the investors on The Vault in a bid to secure funding.

Two of the start-ups featuring in the first episode, Medmonk and Boxershorts, managed to secure investments owing to their enterprising pitches and innovative business models.

Medmonk secured a total investment of INR 1 crore from Mohit Goel, CEO, Omaxe Limited, and Sudip Bandopadhyay, Chairman, Inditrade Capital. Mohit, along with Rahul Singh, Founder & CEO - The Beer Cafe, also featured as an investor in Boxershorts, which secured a funding of INR 25 lakh.

Authenticook, a food tech start-up from Mumbai, was unable to attract any investment, but was offered incubation at TLABS to further refine its business model. Fishappy was eliminated right after their elevator pitch.

"With the Indian entrepreneurial community buzzing with excitement about The Vault, we are very proud to have got the ball rolling with our inaugural episode. High on emotion, drama, and passion, it was everything that was promised. The fact that two of the four pitches made on the episode managed to cumulatively raise more than INR 1 crore on the spot, underlines the kind of difference The Vault can make to the business dreams of our country's emerging entrepreneurs. We are confident that, as the season progresses, we will be able to completely demystify the investment process and make entrepreneurship a household concept across India," said Creator, The Vault, Jatin Goel.

A one-of- its-kind platform in India, The Vault gives aspiring entrepreneurs from around the country a unique opportunity to pitch their business ideas to a panel of investors on television and persuade them to invest money in their ventures.

The objective of the show is to give television exposure to innovative business ideas and provide them once in a lifetime opportunity. The Vault is open to emerging start-ups, SMEs, the student community as well as household & rural ventures.

The Vault gives aspiring entrepreneurs from around the country a unique opportunity to pitch their business ideas to a panel of investors on television and persuade them to invest money in their ventures.

Open to emerging start-ups, SMEs, the student community as well as household & rural ventures, The Vault will showcase some of the most innovative, creative and ambitious ideas from across the nation.

The investors will then select the best business ideas and products that India has to offer to put their hard-earned money in, while all the emotions and the drama get captured on camera.