Circato Secures INR 90 Lakhs Deal on Shark Tank India

Circato, a sustainable construction startup specializing in modular building panels, featured on Shark Tank India, where founders Praveen Crasta, T Paul Koshy, and Sushma Joseph pitched their innovative solution for disaster-resilient and eco-friendly housing.

During the pitch, the founders showcased their “hero product” Octagonal homes, constructed using specialized 8×4 ft modular panels. These panels are engineered using a unique sandwich design with a honeycomb-inspired I-beam core made from shredded MLP (Multi-Layer Plastic) waste. The final product features a cement exterior surface, steel roof supports, and a plastic wall core, making the panels lightweight yet robust with superior thermal insulation and shock absorption.

Entering the Tank, the founders initially sought ₹90 lakhs for 3% equity, valuing the company at ₹30 crores.

The brand, whose name is a portmanteau of “Circa + Tomorrow,” aims to revolutionize the construction industry. While their panels are currently 30% more expensive than traditional construction, they offer significant advantages, including being fire, water, and fungus resistant with high screw-holding capacity. The startup is already making a global impact with an ongoing project in Jamaica and a completed public library in Karnataka.

Prior to Shark Tank India, Cincato was primarily funded by a ₹3 crore personal investment from Praveen’s family business, which has roots in paper honeycomb packaging. While the business is currently in the pre-revenue stage, it has recorded lifetime sales of ₹55 lakhs and recently secured a pilot order for 10 houses. The current equity split sits at 73% for Praveen, 10% for T Paul, 7% for Sushma, and 10% for CM Envirosystems.

After a deep dive into their manufacturing process and the potential of their upcoming external building facades which are priced competitively at ₹650/sq ft compared to ₹1200–1500/sq ft for glass facades—Anupam Mittal closed the deal. He invested ₹90 lakhs for 10% equity, valuing Circato at ₹9 crores.