- Greetings, Sharks. - Greetings.
I'm Pratibha Kanoi. 68 years founder of Mommy's Kitchen.
My son Vikas and Vishal.
I was born in Burma.
For some years, I studied in Bangkok
where I got exposure in international cuisine.
Since childhood, I liked cooking.
When I got married in 1974
my husband gifted me a big oven
where I used to make large size pizzas.
- My family relished it. - Wow! - They liked it.
They persuaded me to make it into a business.
After 40 years, I got the chance.
During lockdown, I made pizzas for my family.
I made the dough to the 'Paneer', at home.
They praised my culinary skills and got so excited
- that they said.. - Wow, Mom! This is amazing!
My mom's passion came full circle in 2020..
With Mommy's Kitchen!
We serve freshly baked, thin crust
crispy vegetarian pizzas.
The specialty.. It stays crisp even after a couple of hours.
We got such a good response, we continued our work.
From Mumbai to Kolkata and to Bengaluru.
Today, we can proudly say
we've got 6500 joined with us.
I can proudly say that Mr. Amitabh Bachchan
and his family are a part of Mommy's Kitchen. - Wow!
So, Sharks, by giving 3 percent equity against Rs. 90 lakhs
we invite you to join our family.
Ms. Pratibha, we heartily welcome you to Shark Tank.
You don't look 68 years at all.
You're looking fit and so beautiful..
Thank you so much.
Maybe mom is having some
medicines from Ms. Namita Thapar's Emcure Pharmaceuticals.
Possibly. Possibly.
- You're her.. - You'll get offers from her.
You're looking like his elder sister.
I'm allergic to deli. Generally, I can't have pizzas.
And I love pizza.
By making me have a slice of pizza
you made my dream come true.
So nice.. Thank you.
Do you have other foods or just pizzas?
Only once a week.
Every Sunday night, we've pizza party at home. - Nice!
- Let's talk business now. - Sure.
Major pizza company dominates the pizza market.
The consistency across cities and outlets..
From wherever you order their pizzas
we get the same expected taste.
Your vision.. Do you want to go for artisanal pizza
or just like QSR, by opening big outlets
do you want to take it all over India.
We want to open multiple cloud kitchen
and take way joints as a pan India.
- How many outlets do you have? - In Mumbai, Kolkata
and Bengaluru, we've cloud kitchens
which are under our control.
Mom has made it so standardised
all our cooking assistants, they don't have to give inputs.
They work according to what mom says.
If you have our pizzas in any of the three cities
the customers say, it has the same taste.
It has the same taste wherever you eat.
Do you sell it through online food portals?
We take direct orders.
Why not from online delivery portals?
We will do it now.
How did you find your customers?
Finding the first customer is very important.
All my relatives, friends..
- It is word-of-mouth. - We posted on social media.
So, yours is referral marketing.
We haven't yet hired anybody in that field.
So, you opened business in three cities.
How much revenue do you get from all the places?
Combining the three cities, in a span of 18 months
we've done a business of Rs. 1.15 crores.
Are they revenues generated equally?
Rs. 6.5 lakhs is average.
In October, we made Rs. 4.5 lakhs in the three cities.
Bombay 2.50 lakhs, Kolkata 2.25 and Bengaluru 50,000.
What is your cost in running a cloud kitchen?
All the three cloud kitchens are currently in our house.
Mumbai already has our infrastructure.
We need to get a couple of equipment.
Kolkata has the setup.
My sister has started it in Bengaluru.
We already had a setup. Machines had to be brought.
It's a family business. Families gave the first order.
The family opened the cloud kitchen. - Yes.
You did the right thing. Inform the near and dear ones.
Gradually, open up in the rest of the market.
The negative point is that
you're not aware of the model economics.
One should know the cost of opening it outside.
- Sir, I know it. - Please explain.
Outside, a cloud kitchen will cost me Rs. 10.80 lakhs.
- Including the machines? - Total cloud kitchen.
How will you expand the business?
You couldn't answer about delivery partners.
- They charge 28 percent. - Everybody gives it.
Yes. But they're covering six kms radius.
But we get orders from far off places.
- That is obvious. - We wanted to do it.
The reason being, the orders will become slow.
Maybe you're scared of not fulfilling the orders.
- It is not that.. - I'll tell you my decision.
I think, you've a close-knit family business.
If someone tells me, he's doing cloud kitchen
my first question would be how much sales is online.
You said, you don't sell it through them.
I don't understand your logic of not having delivery partners.
I'm out as I don't find it investable.
You said, Rs. 1.15 crores is your annual sales. - Right.
But you said, in October it was Rs. 4.50 lakhs. - Right.
It doesn't match the annual sales.
I said about October. Our sales
- aren't fixed and fluctuate. - But explain this.
Sales should increase as the taste is good.
During the lockdown
that time, our sales was around Rs. 9 lakhs.
People were ordering more then.
Indian mentality is like, for example
we take Rs. 700 as delivery charges for Cuffe Parade.
- Rs. 700 delivery charges! - Yes.
So, what Ashneer said, is true.
Why charge so much when they take only 28 percent..
For 6 kms radius only. I could've solved my problem..
- Keep your kitchen there also. - That's what we want to do.
But the problem is, you don't want to step out of your house.
The entrepreneurs, they obtain things.
In that
they make food, they deliver it also..
They even do business with online delivery people.
Ms. Pratibha is doing the chunk of your job.
She's looking after the product.
Both brothers should've done delivery and expansion.
Both of you had to focus on those factors only.
You two had nothing else to focus on.
Let me explain something.
Cloud kitchen infrastructure is taking over the country.
You don't have to invest Rs. 10 lakhs.
With Rs. 2 lakhs
take other's infrastructure of cloud kitchen.
Online delivery partners will give you business.
You can partner with restaurants.
I've made my decision.
I think, your product is best in the market.
The main problem is
you're not listed from where people buy.
You should expand and then, raise investment. So, I'm out.
Consider me out
because you have a lot of work to do.
Then, the investments can be done. But at this point
you need to focus on the basics and then, we'll meet.
Thank you.
I feel, your product is very good.
You can make a channel to expand your business.
Once you're effectively doing business
with your confidence and armed with business expertise
then, you may consider to take funds or not.
At this stage, you're still a novice. So, I'm out.
But best of luck.. And wish you the best.
We four sharks are out.
Seeing him, I remember my mom.
She used to thrash me if I didn't do my work properly.
Her thrashing made me a successful man.
Maybe your mom didn't thrash you.
Honestly..
- Ms. Pratibha is very sweet. - Absolutely.
The problem I see is that
as a mom, you should rectify his mistake..
Had you executed the basics well, sir..
Then, we would've been very excited to chip in.
Cloud kitchen is the future of India.
You can do the cloud kitchen.
Then, you can always visit Shark Tank.
Mr. Pratibha, I expect you to scold your kids.
As of now, we sharks are out. Thank you so much. All the best.
- All the best. - Thank you and best wishes.
- Dude, this is too good! - The product is fantastic.
- I agree that it is so crisp.. - Let's gorge into it!
Hello, Sharks! I'm Kanav Manchanda! - I'm Kshitij Bajaj.
And we are 'Dandera Technologies Private Limited'.
A technology backed auto-manufacturing company.
But our actual business is to enrich people's lives.
We're starting our journey in Lastman Logistics
with a new product..
'Otua'.
It's our first prototype three wheeler
made especially for Electric Drive Train
and with our Anti-Tilt Technology
this will forever change the three wheeler industry.
We've paid special attention to ergonomics in this vehicle.
Even its road visibility in all four directions is best.
It's range of 165 km
and 1 ton carrying capacity is double the market standards.
We're proud to say that with this vehicle
we've solved many problems of vehicles from this segment
and since the very first day drivers can earn
70 per cent more with this vehicle.
And due to our battery based on Dantech
this vehicle can deliver uniform performance
on every road condition all over the nation.
Its biggest specialty is we can make modular settings
and use it at different places.
So it can be used for logistics, passengers and food truck.
It will change with your growing business
and will always support you.
We are demanding Rs. 1 Crore for 1 per cent equity.
- Whoa! - Whoa! - Whoa!
I need to breathe.
Kshitij and Kanav, welcome to Shark Tank.
- Thank you. - Is this name inspired by
how they pronounce 'Auto' as 'Atua' in Bhojpuri?
Yes, that and some wordplay.
We thought this name was easy to remember.
- Market connection becomes easy. - 'Auto' spelt backwards. - Yes.
- Good name. - Thank you.
I was always into automotive.
I would pull things apart and put them back together.
After 12th grade I enrolled for an auto designing course.
I did it for four years and been in this industry for 16 years.
- And your background? - Mine is a business background.
You look like a true businessman.
Family background is business. Father's been into it.
My father was into PU foam manufacturing. I began there.
Did that for 2 to 3 years. Then I got into hospitality.
Then I got into Dandera and here for 3.5 years.
How did you two meet?
We know each other since 25 years.
- We're friends since school days. - What's the equity structure?
- What's your investment? - We've invested 70 lakhs so far
and 10 days before coming here we signed another deal
where we have a 49 per cent share
and 49 per cent is with another company from Gurgaon.
And 2 per cent is with Incubator who helped us merge.
The new company has to make an infusion of Rs. 30 Crores and
our initial logistics investment for first 100 units will be
- from those Rs. 30 Crores. - You gave away 49 per cent!
We gave it to Exponents.
We know that to set up an OEM which is a big industry
one need helping hands.
One cannot handle such a vast empire all alone.
Tell us about the background of Exponents.
Because they have high stakes.
The vision of Exponents is
to unite resources of family farm businesses
and the need of start-ups for those connects and resources
- and provide a link to them. - Tell me something.
- Do you have two equal shares? - Yes. - Yes.
So the 49 per cent share holder has a bigger stake. - Yes.
Then why didn't you bring him?
- He'd come 10 days ago. - So what?
There are flights every day.
- But he won't be alone. - What's stopping him?
Exactly! Their group has around 5 to 6 members.
There must be someone.
Yes, there is. We didn't bring him.
Had it been a big fund manager
and you needed a huge amount
taking Rs. 30 Crores is fine because they'll fund more.
But this is some middleman. When you needs funds next
he will get 10 more people.
That's really a suicidal move.
Why are you here then?
To get into India's passenger segment.
Because the contact base and expertise needed for it
to expand quickly you would be more helpful.
What's so unique about your auto
that some big player cannot provide or copy?
What is it? - Everything in the market can be copied.
Our philosophy is
to stay ahead of the market there's only one way.
Continuous innovation. Keep moving forward.
Let others catch up rather than you do it.
I disagree with you on this because I'm from Pune.
And most big auto-players, especially Bajaj, are from Pune
and their R and D team is so strong
and they make such great innovations and new models.
Definitely.. - And they export 60 per cent business globally.
No one would by a non-innovative product.
There's a difference between entrepreneurs and R and D team.
Definitely their R and D is huge and I've worked for them, too.
They have issues.. Legacy issues.
They've already invested so much in one thing
that it takes them a lot of time to turn profits. - Yes..
The decisions we make in two months
they take eight months to a year. - A very good answer.
That gives us an edge to pull ahead of them.
Only time will tell
if they're able to pivot
or not. - Hope makes the world go round.
Tell us about your business. We're interested.
Is this an electric vehicle?
Yes. - There are many electric auto rickshaws in the market.
A lot. I want to build on that point.
The companies that have launched electric vehicles..
Even with their R and D departments
their vehicles have been the same
for the past 70 years, even the electric ones.
The problem them is that
most of them are retrofitted vehicles.
They have not made special designs for EVs.
The issues they've been having all this time
are being carried forward.
The major consumers, like Flipkart and Amazon
have turned them away because of those issues.
Their vehicles run only for 80 to 100 kilometres.
These inefficiencies
are being carried forward because of legacies.
To break that chain, we made this vehicle from the scratch.
- Can we check your vehicle out? - Please do..
I want to see it too.
Like this..
This is a prototype, so it'll be.. - Keys..
Tell us what's different in this vehicle.
Is it on? - The major difference you will see is more space.
- Prototype? - Yes..
It's hand built.
The volume is 20 per cent more
from anything else in the market.
The visibility is better than other auto rickshaws
even after closing the door.
- Why would a user buy this? - Let's ask sitting there.
I'll tell you.
- I'll say my decision. - Okay.
This is an interesting space in EV.
A huge tussle is going on in it
between legacy companies
and start-ups.
The legacy companies
will be able to pivot quite well
and take the win in this race.
I've betted on them.
For that reason, I'm out.
- But I wish you the very best. - Thank you so much..
I'm quite sure that
that start-ups will win and not
the legacy companies.
- Because.. - I agree 100 per cent..
- It's a rule of the world.. - Yes..
As technology changes
new players enter the fray and dominate.
We're quite confident about that.
Time will tell!
I've made my decision.
I think you've got an exciting company.
Your branding is good
and you have good experience.
However, I believe that your equity structure
has problems
There are multiple shareholders
which makes for many influences and decision makers.
That's an issue.
If a strategic investor had 49 per cent of shares
I'd have had no problem with that.
For this reason, I'm out.
My issue is the same.
After giving away 49 per cent of shares
I think you have nothing in your hands.
Even if I make a deal
I don't see any future in this.
Two sharks are left.
Well, the EV is a good addition to the industry.. - Yes.
I'm very pleased to see the inventions
happening in the house.
I don't think I'll agree with your valuation.
And also, what are you looking to do here?
To do something big.
When constructing a huge structure
what do you think is needed?
- Base. - A very strong foundation.
I think your foundation is weak.
I'm out because of how you've structured your business.
But I wish you the best.
Thank you so much..
Do you have your exponents?
We don't have a term sheet but have a MOU signed.
- MOU signed? - Yes.
I'll make an offer, then.
Rs. 1 Crore for five per cent equity.
Within three months, I'll get you Rs. 30 Crores.
Okay?
Remove the exponents.
Then the Rs. 30 Crores you say you'll get us..
Then we'll need your help with operations.
Operations.. Tell me something.
What investors does anything other than put words on a paper?
Investors don't do that.
Do you think an investor will find you a long
arrange assembly and source
tyres and lights.
All they do is swear at you at board meetings.
You have a MOU signed.
You've got a prototype.
Why are you trying to mess up?
And this is what I personally feel.
When you have Rs. 30 Crores in front of you... - Yes..
No one can refuse that.
And this is your first investment. - Yes.
If you get Rs. 30 Crores
you'll be ready to do it.
I think that swayed you
and you made a hasty decision.
If you're ready to get out of that
I'm ready to support you.
You say that, then give us the Rs. 1 Crores in line of credit
and take one per cent of equity.
For line of credit of Rs. 1 Crore.
In return, you can get five to six per cent of interest..
- Just six per cent.. - Well, sir..
I'll give you equity of one per cent..
I never bother with my cheque book for that little.
I pay 12 per cent, what are you saying?
Sir, you'll get 1 per cent of equity, though.
- I'll give you Rs. 1 Crore. - Okay.
Rs. 1 Lakh for equity and Rs. 99 Lakhs for debt. - Okay..
You won't have to give back Rs. 1 Lakh. - Okay..
For Rs. 99 Lakhs of debt
you'll pay me 12 per cent of interest.
You need to pay it back to me over a period of five years.
One per cent of equity for Rs. 1 Lakh..
Yes..
It's a good offer.
Can we take a couple of minutes. - Of course.
Thank you.
- 'Hello'. - Sir. - 'Yes.'
We have go an offer from Ashneer. - 'Okay.'
They are sharing the equity for free.
They gave 49 percent over there.
And just gave them one percent of equity on account of debt.
You can have it too if you want.
If you tell them that you are in
you can have some too.
It's free. You can have one percent.
There is no value for the equity.
I am investing one crore and getting twelve percent.
- Why are you ruining it? - Not at all. - No..
- We won't interfere. - I won't interfere.
- But to clarify it.. - It's you who interfere.
We don't do it.
Yes.
- It's a deal, sir. - All right!
- Good one. - Very good.
Good coordination.
- Congratulations. - Thank you so much.
This prototype is ours now, isn't it?
You can keep it.
- We will make more. - All right.
- Thanks for coming. - Thank you. - All the best.
- Thank you so much. - Very good.
- Greetings, Sharks. - Greetings.
I am Shruti Reddy. Thirty six years.
Since the past six years
I have been running 'Anthyesti Funeral Services'.
'Anthyesti' means last rites in Sanskrit.
'Anthyesti Funeral Services' is a one stop solution
for all post death related rites
like freezer box, hearse vans
in which the body is carried to the cremation ground
the materials, funeral pundits
and 'Asthi Visarjan Pitru Karyas.'
We provide everything related to funeral services.
In the last six years we have helped with over 5,000 funerals.
Right now, we are present in 25 cities
and across seven different countries.
In the next five years, we want to make 'Anthyesti'
a household name.
For that, Sharks, I am asking 50 lakhs
for 2.5 percent stake in my company. - Oh.
Just as brand Xerox is synonyms with photocopying
I wish that death, salvation
and freedom should be synonyms with Anthyesti.
Thank you, Sharks.
- Shurti, welcome to Shark Tank. - Thank you, ma'am.
I don't understand the revenue model.
Right now we're working purely on aggregation model.
Okay. - So you don't provide your own services.
You simply aggregate from other people.
Yes, sir. We began by providing our own services in Kolkata
but I've seen that
if you want to scale it then aggregation model is better.
When I started six years ago
then there were only 5-6 providers
today after two Covid-19 waves
there are nearly 35 providers in this space.
- 35 means, 35 competitors. - Yes.
Ms. Shurti, when you started
why did you think these services
or funeral services are important and you should do it?
I've seen that when you lose someone
it's important that you grieve
but there is no proper agent in this service
so the family has to do everything.
I've also seen that
out of 1.2 billion people and nine percent is the death rate
and if I only consider urban deaths
that's only 25 percent
then our market is coming close to one billion dollar.
Shruti, what is your revenue?
Our last year revenue was 1.16 crore.
- Okay. - Wow!
Before that when we started
it was about 12 lakhs, then went to 22.5 lakhs
and then it went to 55 lakhs, 65 and then to 1.16 crore.
And this year?
For FY 2022 we'll be having a revenue of about two crores.
I would like to share here on that Tank
that our margins are 50 percent in this.
Out of two crores, your margin is one crore this year.
- Yes. - And net profit?
About six percent.
Where does the rest go?
It is mostly in salaries and marketing..
That'll go to customer accusation. - Yes.
The problem with this business is
you provided service to someone but you can't tell them
tell us if someone else dies. You can't ask them to refer.
Refer us next time. Or leave us a review.
That can't happen.
Sir, I'll tell you something here.
One thing that my start-up and Mr. Anupam's start-up shares
that we have zero lifetime customers.
But he has referral.
If two people got married through shaddi.com
both of them will tell others.
In your business no one will say anything.
Our traffic is 70 percent organic.
We get a lot of traffic through referral too.
When we give service to someone people do talk about it.
Okay. I'll ask you another question.
Yes. - Is there really such a big problem?
Generally, while immediate family is sad
they're not in a situation to do anything.
But there are friends and cousins
who take up this task.
I don't think anyone is wandering what to do.
Maybe it's a problem with NRIs.
All the nuclear families in the future
for example
a lot of people in Bangalore are in nuclear families.
But people come for someone's death.
This logistics is automatically taken care of.
It means that the industry is fragmented natured.
It is very difficult to consolidate this.
I think he's trying to say that.
You can make this a niche business for NRIs.
You can earn a lot of profit there too.
But form an investor's perspective it seems difficult.
Shruti, I've made my decision.
You seems like one of the strongest
entrepreneurs in Shark Tank.
Okay. You know everything about the market size
and make a business of two crores
with one crore gross margin is not easy.
- Thank you. - You must scale it.
You must make your margins better.
If it reaches 70 percent
then you'll get 25 percent net profit instead of six.
I don't think this is an investable business now.
So I'm out.
Shruti, my view is similar too. I'm out too.
If I can give you suggestion
then I'll say, have a simple name
so to tell others.. When I leave here today
I might forget it.
- Great point. - Good point. Very good point.
If you name is something easy
like someone named a company makhan.com.
- You know what I mean? - I opened it. - Yes.
If you name it like that, it'll be better for you.
I believe that
you're solving a problem which is not a problem.
And I also think, you're so smart
that you should apply yourself in an area
where no one is solving a problem.
You can surely make a business here
but you make a great impact in this world
you have that capability.
I won't be able to invent.
Good luck for your future.
Okay, sir. Thank you.
Shruti, it's an area where I'm not very comfortable..
- Yes, ma'am. - It's a little..
It feels like negative energy.
For that reason, personal reason, I'm out.
I don't feel so uneasy with death.
My view is that it's a matter of fact.
But I'm aggressive about business.
I'll tell you to increase time, increase revenue.
But it's like hoping for bad things to happen in some sense.
I mean, I don't want to make money on someone's death.
Your dressing is nice. It's a gothic look.
It feels like the devil is here to ask.
But you're very smart.
Solve the unsolved.
Right? Don't try to solve the last rite.
It's over. The person is dead.
Okay. Alright, sir.
- Okay. All the best, Shruti. - Okay, thanks a lot.
- Thank you. - Thanks for coming to the show.