A Srinagar based logistics cum messenger startup FastBeetle became the first ever Kashmiri startup to appear in Shark Tank India. It pitched its business before the sharks and succeeded in getting investment from two of them. Shark Tank is an Indian reality show, where companies pitch before a panel of investors to get an investment against some equity.
FastBeetle diluted 7.5% of their equity against an investment of 90 lakh rupees, and got Peyush Bansal and Aman Gupta on board.
FastBeetle is a startup launched by two Kashmiri boys, Sheikh Samiullah and Abid Rashid in October 2019. It boasts of being the largest hyper-local delivery company in Kashmir. It delivers groceries, food items, gifts, medicines and other goods to the nook and corner of Jammu Kashmir.
While talking to the sharks, the founders said that they are currently dealing in international shipments too, and want to extend their business to North East India now.
When asked about the future of the startup, the founders said that they want to turn it into a 200 crore company in few years.
“Our pitch clearly states that we need to create a startup ecosystem in Jammu Kashmir. We had gone to Shark Tank, not to represent FastBeetle, but to represent the aspirations of the 1.5 crore population of JK,” Sheikh Samiullah said in a Tweet.
Founders Of Fast Beetle
Fast Beetle has been founded by two young lads of Kashmir. Their names are Sheikh Samiullah and Abid Rashid. More information about them is given below;
1. Sheikh Samiullah
Born and brought up in Srinagar, Sheikh Samiullah has pursued his BBA from Kurukshetra University. Prior to this, he has worked in one of the e-commerce businesses of Kashmir.
2. Abid Rashid
Before co-founding Fast Beetle, Abid Rashid worked in Dubai as CTO in a multi national company. He is an engineer by profession having pursued his B.Tech from Delhi. He is the CTO of Fast Beetle.
It is indeed a watershed moment in Kashmir, as it will encourage the local youth to see beyond the government jobs. Watching local boys of Kashmir presenting their business idea successfully on national TV is indeed going to inspire the new generation in the state.
Currently, there are hardly a few people in Kashmir, who have taken to entrepreneurship and most of the people are still looking at the government jobs as the ultimate end. The youth of Kashmir should find an igniter in FastBeetle, and switch to business and generate employment for themselves as well as the others.
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Fast Beetle is a delivery company based in Srinagar. It boasts of being the largest delivery company in J&K, and also of having delivered Kashmiri goods to more than 50 countries. It was founded by Sheikh Samiullah and Abid Rashid in 2019.
The founders of Fast Beetle delivery startup are Sheikh Samiullah and Abid Rashid. Abid Rashid is an engineering graduate and Samiullah is a business graduate.
FAst Beetle appeared in season 2 of Shark Tank India, and it was able to get an investment of 90 lakh rupees against an equity dilution of 7.5%. It got its investment from Aman Gupta, the co founder of Boat and Peyush Bansal, the founder of Lenskart.