Magic Lock Shark Tank India Season 1

by IndiaSuccessStories February 22, 2024

written by IndiaSuccessStories February 22, 2024 0 comment

Table of Contents

Magic Lock Shark Tank India Season 1

Pitch no 61 with company details

Magic Lock

Magic Lock commercial LPG safety devices, with their secure locking mechanisms, leak detection systems, automatic shut-off features, adherence to safety regulations, and simplicity of installation and operation, provide a comprehensive solution to the issue of cylinder leakage in commercial settings.

Founder of Magic Lock

Zubin, Tejas Shah Magic Lock was founded by Dhananjay Bhatt and Dhananjay Bhatt. Zubin’s dad is Dhananjay Bhatt.

Magic Lock Funding Round

Company Name	Magic Lock
Shark Tank India Season	1
Episode No	19
Season No	1
Brand	Magic Lock
Idea	LPG Cylinder lock
Original Ask	1.2 crore for 8% Equity
Deal	No Deal
Invested By:	——

At the core of Magic Lock's pitch lay a commitment to enhancing safety and security in households by addressing a common yet often overlooked vulnerability - LPG cylinders. By introducing a specialized lock mechanism designed specifically for LPG cylinders, they aimed to provide an effective deterrent against unauthorized access and potential hazards. Magic Lock's product offered a simple yet innovative solution to a pressing safety concern, catering to the needs of homeowners, landlords, and businesses alike.

The Pitch:

Magic Lock entered the tank with a mission to address a crucial aspect of household safety by introducing an innovative lock mechanism for LPG cylinders. Their product aimed to prevent unauthorized access to gas cylinders, thereby reducing the risk of accidents, tampering, and theft. With a focus on simplicity, durability, and effectiveness, Magic Lock's solution promised to provide peace of mind to households and businesses relying on LPG for cooking and heating purposes.

The Deal:

Despite the potential of their product to address a significant safety concern, Magic Lock left the tank without securing an investment. While the Sharks acknowledged the importance of household safety and the relevance of their product in the market, they ultimately decided not to move forward with a deal. This outcome underscores the challenges and competitive dynamics of the hardware industry, where factors such as product differentiation, market penetration, and scalability influence investor decisions.

Conclusion:

Magic Lock's journey on Shark Tank India Season 1 serves as a reminder of the complexities and opportunities inherent in the pursuit of household safety solutions. While their pitch showcased the potential of their product to enhance security and peace of mind for consumers, securing investment in a competitive market requires more than just a compelling idea. Despite the setback, Magic Lock remains committed to their mission of promoting safety and security in households, continuing to innovate and inspire change in the way we approach home safety.

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Magic Lock Shark Tank India Season 1

Magic Lock

Founder of Magic Lock

Magic Lock Funding Round

The Pitch:

The Deal:

Conclusion:

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