P-TAL, short for Punjab Thathera Art Legacy, a startup specializing in brass, copper, and bronze utensils, has landed a significant deal with Shark Tank India. Although initially, some sharks deemed the startup's products as luxurious, they all eventually invested in it.
After intense negotiations, the founders secured a 1 crore investment in exchange for 3.2% equity, valuing the company at INR 31.25 crore. P-TAL was founded by Aditya Agarwal, Kirti Goyal, and Gaurav Garg in 2019 during their studies at Shri Ram College of Commerce, Delhi.
During the program, the founders shed light on the meaning of 'Thathera'. Thathera refers to a community skilled in crafting utensils by hand. They highlighted the importance of cooking in brass, eating in bronze, and drinking water from copper vessels, as these utensils retain 93% of the nutrients compared to just 13% in ordinary ones.
P-TAL has significantly contributed to the earnings of around 55 Thathera families. Initially earning only 2-3 thousand rupees per month, these families now make a minimum of 25 thousand rupees to 1 lakh rupees per month. These families reside in Jandiala, a small town near Amritsar.
Despite its humble beginnings, P-TAL has seen remarkable growth. From INR 21 lakhs in sales in 2019-20, the company's revenue soared to INR 85 lakhs in 2020-21 and further to INR 2.76 crores in 2021-22. In 2022-23, the company achieved sales worth INR 3.98 crores and anticipates reaching 9 crores in 2023-24. With a retail outlet in Delhi and a thriving online presence, the market for such products in India is estimated at 30-35 billion rupees. Currently, the company is profitable.
Last year, P-TAL successfully completed its seed funding round, raising INR 4.33 crores. The round was led by Titan Capital and saw participation from various investors, including Anicut Capital, Gajal Alagh of Mamaearth, Sandeep Aggarwal of Droom and ShopClues, among others.