Funngro Shark Tank India Season 2
Funngro
An app called Funngro Business links intelligent youth with intelligent businesses through skill-based learning opportunities. The platform was developed with teens in mind, specifically those between the ages of 14 and 20, to provide them practical experience working with businesses.
Founder of Funngro
Vea Jain, Anik, and Payal Jain are the company’s founders.
Funngro Funding Round
Company Name | Funngro |
Shark Tank India Season | 2 |
Episode No | 43 |
Season No | 2 |
Brand | Funngro |
Idea | A platform that helps teenagers earn |
Original Ask | 50 Lakhs for 1.25% Equity |
Deal | 50 Lakhs for 4.16% Equity |
Invested By: | Namita Thapar and Amit Jain |
Funngro recognized the challenges teenagers face in finding suitable employment due to their age, lack of experience, and limited availability. To address this, they developed a digital platform that connected teenagers with businesses seeking short-term, task-based assistance. Through Funngro, teenagers could browse job listings, apply for tasks, and earn money by completing various assignments, such as data entry, social media management, graphic design, and more. By leveraging technology and gamification, Funngro aimed to make the job search process engaging, intuitive, and rewarding for young users.
The Pitch:
Funngro entered the Shark Tank with a unique proposition: a platform designed to empower teenagers by providing them with opportunities to earn money while learning valuable skills. Their platform aimed to bridge the gap between teenagers seeking employment and businesses looking for affordable, flexible labor. With an initial investment of 50 Lakhs, Funngro offered a 1.25% equity stake in their company.
The Deal:
Impressed by Funngro's innovative approach to youth employment, Namita Thapar and Amit Jain saw the potential for significant impact and offered 50 Lakhs for a 4.16% equity stake in the company. Funngro accepted the deal, recognizing the value of having experienced investors onboard to support their growth and expansion plans.
Investors Behind Funngro
Namita Thapar and Amit Jain: With the investment secured from Namita Thapar and Amit Jain, Funngro could accelerate the development of their platform, enhance user experience, and scale their operations nationwide. They planned to invest in marketing campaigns to attract both teenagers and businesses to their platform, establish partnerships with schools and youth organizations, and implement robust safety measures to ensure a secure and positive experience for all users.
Conclusion:
Funngro's success on Shark Tank India highlights the importance of addressing the unique needs and aspirations of teenagers in today's gig economy. By providing them with opportunities to earn money, gain work experience, and develop essential skills, Funngro is empowering the next generation of workers and fostering economic inclusivity. With the support of Namita Thapar and Amit Jain, Funngro is poised to become a leading platform for teen employment, driving positive social change and creating opportunities for youth across the country.