Neon Attack, a startup hailing from Hyderabad, stole the spotlight on a recent episode of Shark Tank India. Founded by siblings Kartik Kedia and Hardik Kedia, the company specializes in crafting premium LED neon signs that cater to homes, offices, and events. Their pitch left the investors intrigued, and here’s why.
Kartik and Hardik Kedia’s journey started much like many others – seeking a sign from above. However, they realized that recognizing these signs was the true challenge. This realization birthed an innovative idea – why not harness these signs to create something extraordinary?
Tapping into a Lucrative Market
The Indian market for neon signs boasts a staggering value of over 8000 crores. Neon Attack smartly targets specific niches within the home décor, business, and event planning sectors. Their keen eye for personalized and attention-grabbing signage solutions aligns perfectly with the market’s growing demand.
Unmatched Customization
At Neon Attack, customization knows no bounds. Their website, attack.com, serves as a playground for creativity, allowing customers to effortlessly personalize their signs. From choosing fonts, sizes, to colors, the possibilities are endless. With a strong emphasis on quality, each product comes with a two-year warranty, enlightening over 12,000 customer lives to date.
Innovation Sets Them Apart
Neon Attack stands out from the competition with its unwavering commitment to quality and innovation. Their LED neon signs outshine traditional gas-based neon signs by lasting three times longer and consuming 80% less power. Moreover, their ‘floro’ technology enables seamless color-changing capabilities, adding an extra layer of allure.
Catering to Diverse Customer Segments
The company has identified three primary customer segments:
- Home Décor: Families looking to spruce up their living spaces with neon signs for kids’ rooms, gaming areas, and home theaters.
- Businesses: Cafes, restaurants, offices, and startups seeking bespoke neon signs to elevate their brands and create a unique ambiance.
- Event Planners: Individuals and companies organizing events requiring eye-catching neon signage for weddings, launches, and corporate functions.
Impressive Financial Performance
Neon Attack has showcased significant growth in recent years. With a sales split of 70% from their website and 30% from home décor outlets, they’ve established a robust revenue stream. Their average order value stands at 9,500, reflecting a profitable venture poised for exponential growth.
In their last fiscal year, Neon Attack raked in 4.75 crores in revenue with a healthy profit margin of 15%. The momentum continues, with the company recording gross sales of 63 lakhs in the last month alone, resulting in a net profit of 7.5 lakhs. They’re on track to close the current year with a whopping 10 Crores in revenue.
Sealing the Deal
Neon Attack sought a 75 lakhs investment for 3% equity at a valuation of ₹25 Crores. After a competitive negotiation, they struck a deal with Namita Thapar and Aman Gupta, securing 50 lakhs for 2% equity and an additional 25 lakhs in royalty at 2% until 50 Lakhs (2x) is recouped.
The transition from traditional neon gas signs to customizable LED displays heralds a new era in visual communication. With Neon Attack leading the charge, the future of signage looks promising, offering boundless avenues for creativity and personal expression. As businesses and individuals strive to stand out, customized signage emerges as a potent tool for innovation and branding.
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