ReFit Global Shark Tank India Season 3: Nowadays, people are more aware of environmental issues and thus are introducing sustainable solutions in every possible field. E-waste contributes a large part to pollution on the planet and to solve this problem, ReFit Global has come up with the idea to refurbish electronic gadgets so the e-waste can be eliminated or reduced by acquiring sustainability. To learn more about ReFit Global Shark Tank India Season 3, stay tuned with us till the end.
ReFit Global Shark Tank India Season 3
ReFit Global is a recycler of electronic gadgets, especially smartphones. They recycle and refurbish old smartphones that are now reusable and low in price. The founders of ReFit Global presented their business model and products to the Sharks and they were all very impressed with the founders and their vision toward sustainability.
ReFit Global has the aim to transform e-waste into second-hand and affordable treasure and they are achieving it through using the technology for a sustainable future. Established in 2017, ReFit Global has a presence in over 70+ cities in India with a total of 50,000+ outlets. They have crafted a 47-Checkpoint Refit App for pre-owned phones.
Founders of ReFit Global
Saket Saurav and Avneet Singh are the founders of ReFit Global established in 2017. They have also appeared on Shark Tank India Season 3 to promote their brand aiming for a sustainable future and diluting some equity in exchange for some funding.
Saket Saurav completed his schooling at D.A.V. Public School and then enrolled at the Bharatiya Vidhyapeeth University, Pune to pursue his Bachelor of Arts in Law in 2006 which he completed in 2009. He also earned a Master of Business Administration degree in Marketing from the International School of Business & Media in 2011.
He has worked at several companies before starting his entrepreneurial journey including LG Electronics, ISB&M, and ShopClues. Currently, he is the co-founder and Chief Executive Officer of ReFit Global.
Avneet Singh holds a Bachelor of Pharmacy Degree from St. Lawrence Pharmacy College. He also did a Master of Business Administration in Marketing at the Institute of Management, Nirma University.
He has also worked at several reputed companies before co-founding ReFit Global including ARBRO Pharmaceutical, Biocon, Parle Agro, Videocon Consumer Durables, Sansui & Kelvinator, LG Electronics, and ShopClues. Currently, he is the co-founder and Chief Operating Officer of ReFit Global.
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ReFit Global Shark Tank Business Deal
ReFit Global on Shark Tank India Season 3 episode streamed on 20 February 2024. The founders of ReFit Global presented their business and products to the Sharks and asked for Rs 2 Crore in exchange for 0.5% equity.
Anupam Mittal and Amit Jain gave them an offer which was Rs 2 Crore for 1% equity along with Rs 100 royalty on each unit sold until 4 Crore is recouped. Vineeta also gave them an offer which was Rs 2 Crore for 0.5% equity along with 1.5% royalty until 4 Crore is recouped.
The founders were not ready to take a royalty deal so there was a lot of discussion and finally the deal was locked for Rs 2 Crore with Vineeta Singh, Anupam Mittal, and Amit Jain along with 1% royalty until 3 Crore is recouped.
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Final Words
In this write-up, I have shared all the crucial details about ReFit Global Shark Tank India Season 3 including the business vision and founders. The founders of ReFit Global have founded this business with a noble cause. E-waste is really a vast problem that needs to be solved and this is what they are doing by refurbishing the pre-owned smartphones and transforming them into affordable treasures.
Hope this ReFit Global Shark Tank business deal was learnable for you and the content I have shared was also useful for you. To get instant updates about Shark Tank India Season 3, stay connected with us. Thanks for reading.
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FAQs
Who is the founder of ReFit Global?
Saket Saurav and Avneet Singh are the founders of ReFit Global, an electronic waste refurbishing company established in 2017.
