'This is our heart!'
'When it sees a pretty lady, it starts racing.'
'There are three, he should dance some more.'
'We launched a peanut butter brand'
- 'made in India, Alpino. - Wow.'
'Paws India is an e-commerce pet product development company.'
'Spandan is a pocket sized ECG device.'
'We're on a global mission. No one should die'
'because of a preventable and undiagnosed heart attack.'
'We're here to raise 1.5 crore'
- That's a bone. - That's a bone.
Where there's a bone, there's a dog.
Call out in your style, Anupam.
Come in, darling!
- Yes.. - There you go!
- I heard you. - Oh..
- I'm scared of dogs. - Oh, wow!
This is going to be fun.
- A Labrador. - Oh..
Hi..
So cute!
Aww..
Go to Peeyush, he's your best friend.
Papa calling you..
Are you a shark?
Are you joining the Sharks today?
- If you don't accept my deal.. - We have a new Shark!
- Oh.. - Nice!
Wow.
Sharks, this is Gabru. Just got him to say
hi to you. Say hi, Gabru!
- Hi, Gabru! - Hi, Gabru! - Hey, Bru..
How are you? - Okay? Have you met everybody?
Now, let's go..
Hi, Sharks. My name is Priyam
and I represent Paws India.
I belong to Bombay.
Having a pet is like having a baby.
A child who never listens to you
and does whatever he wants to do.
So, research says that
every fourth or fifth home could have a pet.
Based on this population and need
we started Paws India.
Paws India is and e-commerce pet product development company
that's focussed on innovation, advanced healthcare
and product development.
We also help flourish other pet start-ups.
Paws India is a company that works for pets
and towards pets.
We look forward to seek an investment of Rs. 50 lakh
on four percent equity of my company, Paws India.
Priyam, first of all, welcome to Shark Tank.
Thank you, sir. - So, how did you start the business
and why? - My co-founder.. Actually
he's unwell. So, he couldn't be here. - Sorry to hear that.
My co-founder is actually my brother.
- I see. - He and I
We've always been crazy animal lovers
since a very young age.
We always wanted a pet but my mom always refused saying
'I already have my hands full with you both.'
'I'm not going to get you a pet.'
We come from a pharmaceutical business background.
- Wow, we have one here. - I have a pharma company.
I'm a big fan, ma'am.
My dad's company is called Pramo Lifescience.
We manufacture and export in the African market.
So, my co-founder was
in the pharmaceutical business for a long time.
Since that's already going well
he switched channels and started this.
I joined and came on board
I used to work at JP Morgan in the finance department
of investment banking. - I see!
And.. - So, you both do this full time, now.
Yes. - How many products do you have one the website?
On the website, we approximately have 250 to 350 products.
Is it a marketplace for pets?
We're not only a marketplace.
We also develop our own products and we have our own brand name.
As soon as we grew, a few smaller companies came on board
and over a period of time, a considerable amount of revenue
started coming from other companies.
- The we realised.. - How much is yours
and how much is from other brands?
- What the total revenue? - 90-10.
90 percent is from our products and 10 percent would be
- other brands. - That's a small margin.
Why waste your time on that?
These are small pet start-ups
who can afford to build their own website
or spend a lot on marketing every years.
It's just about providing customers the variety.
When you came in, there was a product demo going on.
- Is that a unique product? - Yes, sir.
We have exclusive distribution rights for this product
in the Indian market.
This is the world's first smart toy for pets. So, basically
the product that was moving around here
someone was operating it backstage via Bluetooth.
This is for urban pet parents
who don't have enough time to stay with them. - Oh!
Interesting. - They'd normally set the toy
on interactive mode and leave it with their pets.
Of your products which make up 90 percent of your sales..
Yes? - How many are for healthcare
versus number of general products?
Tell us more about the products.
- Can we see the products? - Absolutely..
So, when I say 90 percent sales are from our brand
I could attribute 25 percent to healthcare
because right now, a lot of
our products are in prototype stage.
- is a self play dog toy. - This one?
is from the accessories, the tech toys
and the edible items we have.
The food items for dogs that we have. - Okay..
What was your revenue last month?
Rs. 20 lakh. - Was that sales or net revenue?
Sales. - What was your net revenue?
Something to the tune of Rs. 16.5 to 16.75. - Okay..
You've asked for a very high valuation, Rs. 12.5 crore.
That's one month's revenue.
So far we've touched 1.2 crore.
Over the last one year also, we made Rs. 1.2 crore.
This year's target is Rs. 3 crore.
- Priyam. - Yes, ma'am? - In India, who is..
Who do you consider as your competitor?
- Against whom.. - Heads Up for Tails.
Okay. - Look, every business has a rule.
80 percent of the business comes from 20 percent of the products.
Right. - Which are those products?
Can you show us? Tell us more.
Sir, this bone that you see here
there are a total of eight SKUs in this brand
for which we have exclusive distribution rights.
But that's not yours. - This is second highest in revenue.
The product that you have with you
- is a self play dog toy. - This one?
One of a kind, first in India and world. Yes, that's right.
So, that's our highest selling product.
I'd like to understand this a bit more.
- Can you give a demo? - Yes, definitely.
This is a motor operated ball
which is fitted with motion sensors.
It makes a barking sound.
This ball goes inside the cover.
When the dog plays with it, bites it
and throws it, the motion sensor is activated.
This is basically India's first self-play toy
that's designed and made in India.
- Yes! - This moves. - Do cats play with it too?
It'll scare the cats.
Cats mostly react to it
- by going into attack mode. - Yes.. - Yes.
I've seen that.
Very good. Very interesting toy.
- So, Priyam. - Yes, ma'am. - I've made my decision.
Because I don't have pets and I don't have
much knowhow about this industry
it doesn't excite me that much.
- So, I'm out. - I understand.
I was actually looking forward to working with you
also because we're looking forward to
- entering the pharma space. - But your range of products
is not pure play healthcare.
- We are getting into OTC also. - Okay.
So Priyam, I'd like to tell you..
I was about to
offer Rs. 50 lakh for 10 percent
but since you mentioned pharma
that, in my opinion, is going to be a major distraction.
I had thought
you're building a B to C brand for dogs.
- Definitely. - For online shopping.
We have both B to B as well as B to C models.
We don't want multiple models.
In a small company worth Rs. 2 crores
having multiple models is pointless.
You can't build any business.
If retailers and distributors come to us on their own..
People will ask you for all sorts of things.
If I say I need a pen, manufacture it for me.
Will you start manufacturing pens?
You're competing with Heads Up for Tails.
What you claim to be your strength..
You're doing so many things.
I think it is your weakness.
Because Heads Up for Tails is dedicated
to selling a fun brand to the owners
of cats and dogs.
And you're selling 50 or 60 products. You sell
to vets, you're doing pharma..
So, I mean.. I-I'm sorry.
I want to back out.
In my opinion, wherever you can make a unique product..
Like you mentioned a few products
which a high in demand.
You should focus on those products.
The exclusivity is good but you can focus on that later on.
Your goal should be to try
to manufacture this exclusive product affordably
in India. - Sir, we're trying very hard to
make any kind of motor based product in India but..
- Manufacturing.. - You have the resources.
That's the.. - Sir.. - Success comes from the tough decisions.
- Peeyush, what's your decision? - I'm out.
But Anupam and Ghazal are still there.
My problem is that I am already
invested in a similar brand.
Oh! - It could give rise to conflict of interest.
- I understand. - So..
- Because of that, I'm out. - No problem.
Everyone is out.
Yes, sir. Sadly. - So, talk to me now. - Sure. - Okay?
- Absolutely. - Your brother
the main founder.. He's been doing this since before.
What's his educational background?
He has a B.Com degree
and after that he's been working in the pharmaceutical industry
for about five years now.
In the pharmaceutical company..
How big is the business?
Rs. 50-100 crore, sir.
Why did he then think of
The business is completely automated.
I see. - I mean, over there
if the staff keeps working it'll keep going on its own.
You know.. Something new.. He's 27.
I'm 25. - Okay.
So what do we do now?
There's barely two hours of work in a day.
Wow. - Wow, very impressive.
Okay, I'm going to make an offer.
But it is conditional.
First, I want to meet your brother.
Secondly, we need to re-work the strategy here,.
Running after too many things
will not let make you a product or a brand.
We will running around in circles.
So do you listen? Are you flexible?
Certainly, sir. If it..
No one says they are rigid. So give me an example.
I'll just say this one line.
I love you. - Good optimism.
She speaks so well. - I am working in this for a while.
If you say something, I'll consider it, do a research,
And if I find is making sense
- then I will go for it. - So Priyam..
Describe yourself in one line.
I'll need a paragraph.
Fine, as you please.
In couple of adjectives, I am very ambitious.
Very driven, very hardworking.
You will never get a chance to complain.
Define ambition.
I have seen my dad.
He used to show Ms. Namita's picture
- as a role model. - How sweet!
I have known you since a very long time.
Oh really? - So that is ambition for me.
I want to be the biggest pet care company.
That India has. - You come from a wealthy family.
Why won't you invest another twenty million?
Put in your money and expand your company.
Dad says he wants the money that he invests.
An investor who sits next to my cabin.
He knocks every time.
- Asking for his money. - I will do the same.
Sir, you can do so, it is your right if you invest in me.
You can call me and question me anytime for your money.
Is there something I must know? I am trying to investigate
that if you have an opportunity and an ambition
and you are passionate about it
then why do you not invest your own money?
Why do you wish to give away equity at this stage?
Financially, my dad is building a factory
so all his funds go there.
He is a businessman so he wants his money back at once.
Okay, I'll make you an offer.
I'll give you 50 lakhs for 15 percent of the company.
It is non-negotiable as other sharks are out of this.
You are talking like shark.
Yeah!
You may counter.
I have no counter, I understand you value, coming on board.
I just want you to answer this one thing
if we have any POs, will you be able to fund that?
- Eventually? - Depends on the sum.
Sir, for now we will have POs for about three million.
I can do that but I will charge an interest.
- How much? - Standard, 12 percent.
- What do you think? - Let's do it.
- Wow! - Wow! - Superb!
- Thank you so much. - Looking forward, I am excited.
Lovely meeting you.
- Ma'am, I am your fan. - Very fierce woman.
- Very good job. - I loved meeting you.
- I think highly of you. - You were fantastic.
- I've become your fan! - Oh! - I have!
- You did not call your brother? - Ma'am, we had a buffer.
Of the equity and this fits it.
She is the real shark here.
- She had come with a number. - Yes. - A range.
- So excited to work with you. - Looking forward to it.
I am looking forward. You are fantastic. - Thank you!
- Bye! - Bye!
- Good entrepreneur. - Wonderful woman!
- Very fierce. - I loved here.
- Hi Sharks. - Hi Sharks. - Hello. - Hello.
This is our heart.
- Hello, heart! - It dances in joy.
I like it. - It curls up when sad.
It acts out at the sight of ice cream.
And when it sees a woman, it dances.
Three women bring thrice the groove.
And when it sees someone sad, it gets emotional.
- But after all it is a heart. - Heart has no brain.
And hence a small mistake for the heart
can prove fatal for us.
Since what the feart feels it cannot express.
- Smart. - Very cute.
- I am Rajat Jain. - I am Nitin Chandola.
- I am Sourabh Badola. - I am Sabit Rawat.
We have come from Dehradun, Uttarakhand.
We are Sun Fox technologies.
In India two million people die every year due to heart attack.
And one of four deaths is due to heart attacks.
And the main reason being
lack of medical devices present at the right time.
ECG is the basic test for heart.
Invented about a century ago.
And it is still far from the reach of a common man.
Due to lack of ECG at critical times we suffer deaths of many.
So what if we can get this available at times of need?
And with ease, we can save many lives.
And our device Spandan does the same.
A very compact device.
A pocket sized ECG device, can be used by anyone, anywhere.
Without any need of doctor, by using a smartphone.
This small looking device has an accuracy of 99.7 percent.
And it can be used at home with great ease
like measuring blood pressure and sugar.
Sharks, we have helped many
by Spandan in pandemic
but it is very special for me as I helped my dad
by an early diagnosis for heart abnormality.
Wow! - Sharks, we are on a global mission.
that in coming times
no one should die of preventable undiagnosed heart attack.
Sharks, we seek ten million for two percent of our company.
We want you to be with us on this noble cause. Because..
- Our heart is carefree. - Our heart is carefree.
- It does as it pleases! - It does as it pleases!
- Amazing! - Nice!
Team Sun Fox.
An amazing presentation. Thank you. Show us the demo.
Now we connect the device to our smartphone.
It will ask for permissions and you must allow.
And now the device is connected as shown in green.
These are the tests.
This is for arrythmia. Specifically.
Seven lead is for chest lead.
And 12 lead is for diagnosis purpose
as when you need to share the report to doctor
then it is a proper 12 lead ECG.
This is a position for lead 2 ECG.
As the colour coding you put it on the chest.
- Only three are needed. - Fine, that is easy. - Yes.
- Red to the right. Green on left. - Yes.
Yellow goes below.
After that you click start test. It records in ten seconds.
So this is how ECG is recorded.
This is the graph.
- Your heart rate is fantastic. - Fantastic.
- So green is safe. - Yellow is borderline.
Red is abnormal.
Red marks some abnormality.
Then you go to doctor or do further tests.
So your heart rate is 108. Are you nervous?
- I am a bit excited about this. - Excited.
I want to know a bit about you.
What did you do before? When did you start it?
India has more than 6,00,000 villages.
And more than 87 percent of villages
have internet penetration.
And yet health services are yet to reach them all.
I was raised in a village.
I saw people die due to lack of health services.
As it is very late by the time they reach a facility.
And even doctors cannot help them in that case.
And hence we thought of starting something
where we can make medical devices
making it affordable so people can get it in time.
And hence we began in 2016.
When we started the company
then it was rare for start-ups.
And we lacked resources.
We worked in deep technology and we had no resources.
So we had to get resources and make a product.
But as we began growing
from day one till the day Prime minister appreciated us.
Then my father said he'll sell the house if I need money
but do what you want to.
Our vision for the country
and around the world
no death should occur due to lack of medical equipment.
First of all, I find this too good to be true.
Because researches are being conducted since years on this.
- Yes. That's true. - World's top AI scientists
top medical field business people
are trying to invent something on that.
What did you invent
that no one else has been able to do it?
It's not that no one has attempted this before.
If you consider ECG machines
you can get around 20 portable machines.
We haven't added anything here that makes it complicated.
We have a simple formula
if it's not needed, remove it.
It won't cost you, it won't increase the complexity
and won't create any unwanted problem.
If I talk about the device
there is no battery, there's no radiation
there's no noise
there are no buttons either.
The idea was to create something
like using a thermometer at home though you might feel dizzy
and feel like you might have a fever. What do you do first?
You pick up a thermometer and check your temperature.
Since you have the accessibility. - Wow!
Tell me something. The 99.7 percent accuracy claim
is there any other device that achieves this accuracy?
Mostly no.
Consider 12 lead ECG, I'll tell you how we define accuracy.
The gold standard machines
the most trusted machines
which we treat as the gold standard
we compared 10,000 patients
with that machine and our machine at the same time
for the same test.
And then based on that we compared the digital data
and calculated how close our device's data
is to that machine.
- Can we see the devices, please? - Yes, please
I want to tell you something.
My father was infected with Covid-19.
It was serious.
We had to check his ECG regularly
and I had to go out too.
I searched on the internet a lot for a portable ECG at any cost.
I didn't find any ad on the internet.
I only found a start-up in the US working on it
through subscription model.
I wrote to their founders on LinkedIn
so they said they're not selling this device in India now.
I didn't see Spandan anywhere on the internet
or I would've bought this device.
Spandan is available on Amazon
it is available on 1mg.
It's available on our website too.
Most of our sales are through our website.
I just remembered a very personal episode
and it's difficult for me to speak at this point of time
because it's very emotional.
Few years ago.. Sorry.
Few years ago, I lost one my uncles
because of this reason.
His heart rate was high
it wasn't normal
and he was taken to the hospital in 15 minutes
but the doctors said the exact line
that if you had come a little sooner
then maybe we could've saved him.
I mean, it's just very close.
When someone close to you
or a family member goes through this..
Thank you for sharing that, Ghazal.
I'm sure it wasn't easy for you
and that shows
that this is a big problem in our country.
So I think, firstly, we should all congratulate them.
- Yes. - Yes.
What are you sales?
We introduced this in January just before Covid's first wave.
And after operating for 13 months
we clocked a revenue of 1.2 crore.
Our online sales
generates five lakhs fixed revenue.
What's the cost of one device?
What does it cost to GP?
We have a one time charge of Rs. 8,000
there nothing recurring for GP after that.
We have two other models.
Those are for integration
where we setup the device and charge per use.
How much do you charge for pay per use?
- Pay per use depends on volume. - Okay.
It can be as low as Rs. 2 per ECG
or as high as Rs. 20 per ECG.
As far as I understand this business
or how the medical business runs.
Doctors recommend ECG.
How much does ECG cost at hospitals?
- Average Rs. 300. - Per test.
If you remove this commission structure
then are taking away the incentive for doctors
to work with this device.
Today hospitals and doctors make money
by doing more and more tests.
If you give them a device which doesn't make that money
how will you change that incentive and behaviour?
Sir, in this case
we are increasing the foothold for doctors.
- Exactly. - You can take blood glucose
for benchmarking.
All the diabetic patients who are getting diagnosed today
it is less before compare to now.
Due to blood glucose test everyone can check it
and then after that, they won't take medication
ultimately they'll go to the doctors.
If the patient has accessibility.. - Good point.
They'll go to the doctor for a prescription.
Understood..
Did anyone invest or give you a grant?
Yes. - What is it?
We got a grand from DST for Covid innovation.
- Who? - DST.
Department of Science and Technology
- by Government of India. - Yes.
- We got support from 'Byreck'. - 'Byreck'. Correct.
- How much did you get from both? - Nearly 50 lakhs.
Did they take equity or just a pure grant.
It's a pure grant.
We raised private investment too
- nearly 3.5 crores. - On what valuation?
Our valuation post money was 18.5 crores.
What is your shareholding and who is the CEO?
I'm the founder and CEO. We have two promoters.
My other promoter isn't here.
So currently, I hold 36 percent
the other promoter holds 34 percent.
- What is his role? - He's CFO.
My tech and business team have a 10 percent pool.
And rest of the company goes to the investors.
You've invented something that will change the world
so in the past two years when you found the solution..
Your solution is equal to the existing solution.
Why haven't people jumped on this?
India has never had so much liquidity.
In the past two years we have to do the regulatory
we had to design for manufacturing
make a manufacturable design ready.
Making technology is one step
after that making it a product to be sold
and building our capabilities to make them
we have to work on that.
We are in a place like Dehradun
where we build our ecosystem too
and build this too.
After that, we show the world this is what we have built
and after doing that
we got an angel investor this year
the round I spoke about was done in this year
and we want to get a Shark in this year too.
Now all five of us are going to give you an offer together
but before that..
- Anupam, are you in? - Yes.
- He's in. - Okay.
Tell me something. What are you here for?
- Apart from money. - Apart from money..
You got 3 crores. What more can you do with 1 crore?
We have all the big names here for D2C.
For pharmaceuticals, we have the queen of pharmaceuticals.
- Pharma. - Pharma.
- It's a fact. - Queen of pharmaceuticals
- call her Pharma. - Sorry for that.
We have queen of Pharma.
And access, the people we want to sell to
you have access to them.
All of us together will make you an offer
and it happens rarely in Shark Tank. - Correct.
And we don't want to take too much equity
because you've raised a round already.
You asked for 1 crore for two percent.
You've raised a capital round too.
If we calculate as per that
and include the time of all the Sharks
then it comes to six percent.
So our offer is 1 crore for six percent.
- All five Sharks. - All five Sharks included.
According to me it is a good offer.
20 lakhs from each Shark.
And we'll divide six percent too at 1.2 percent each.
You can discuss with each other if you want to.
- You can call your partner too. - Our offer is non-negotiable.
There's nothing to discuss to be honest.
- We want to discuss. - Yes, please.
- Please go ahead. - Thank you.
We can't dishonour the previous investors.
If this passes technology due diligence
do you realise the number of devices we can sell
just through MPO. It'll be massive.
Welcome back. So much silence.
- Are you happy or sad? - There's sadness.
We are happy.
Thank you so much for the offer.
But we have one small concern.
We'd be dishonouring the valuation
of the investors of the previous round
if we do go with this offer.
We'll handle them. Forget about them.
Would you reject us just for Rs. 1 or 2 Crores?
What are you thinking over? It's a fabulous deal!
When we asked for 10 per cent
Anupam was mad at us when you stepped out.
He was against offering six!
Tell us then.
Let's agree on the deal.
Right..
- Good choice.. - Let's make the cheque..
My cheque is ready.
That's great!
Let me tell you guys something.
I'd have given them Rs. 1 Crore
for 5 per cent of equity or below.
Hello, Sharks..
My name is Chetan.
- I'm Mahatva. - I'm Priyank.
And I'm Umesh.
We're all co-founders of Alpino Health Foods
from Surat, Gujarat.
Alpino is known for bringing healthy food products
to the people.
So much so that in the past three years
we've generated more than Rs. 35 Crores of revenue.
It's all because of him.
Me? No.
It's because of this peanut.
Yes. - There are peanuts beside you.
Everyone knows peanut
cheap and ever reliable.
Everyone, rich and poor, have had peanut.
It's the favourite healthy snacks of India.
We get healthy protein and healthy fats from this.
Sharks, studying together at college
we used to have peanuts during the lectures.
That's when we got the idea for peanut butter.
- And it.. - Changed our lives..
We also found out that
95 per cent of peanut butter
was being imported into India.
We saw an opportunity
and launched India's very own peanut butter brand
Alpino..
We've launched other healthy products
Like muesli, apple cider vinegar
green tea and India's first peanut butter powder.
Yes, Sharks. Currently, we're present
in more than 15 online platforms in India and have
availability in more than 3,000 offline retail stores.
Our intent behind starting Alpino, the synonym
of health and taste, was to revolutionise
the health food segment of India.
Sharks, back in 2016, we started with six people.
Now, we have a team of more than 60 professionals.
Sharks, we've come to raise Rs. 1.5 Crores
against 2 per cent of equity in our company.
Are you going
to join us and make India
better with better health and taste..
Thank you.
- Shall we taste first? - Of course. - Yes.
- The peanuts are sweet. - Fresh. - Right!
Crispy! - The raw peanuts are farm-fresh.
- From where? - Junagarh, Gujarat!
We've four flavours. Chocolate, natural, classic and coconut.
Very tasty!
- Thanks. - Thank you so much.
This natural peanut butter
is something I have
- regularly for breakfast. - Okay.
I found it a little less sweeter.
Are you consumes unsweetened?
Maybe. - It depends on the quality of peanuts.
It should only taste of raw peanuts. Maybe it has salt.
- I can taste peanut chunks. - That's a crunchy flavour.
- Crunchy... - No, chunky.
- Chunky, yes. - We have two variants.
Crunchy and smooth in all flavours. - Okay.
Tell me about your background four musketeers.
We are a team of 6 co-founders.
Two of them are still at office.
We did college together.
We were on the look-out for business right after college.
That's when we thought of peanut butter.
Our target consumers are gym goers
who consume peanut butter to stay fit.
General households had very little idea about peanut butter.
Then we decided to sell raw peanuts without additives.
We got the manufacturer to get us natural peanut butter.
Once we got into the market everybody started talking about
that our peanut butter is natural and has no additives.
- You said 35 crores in 3 years. - Yes.
- What about last year? - 15 crores.
- What about this year? - We are at 13 now.
- An exit of 20? - 22.
GC and net profit?
Gross margin is 38 percent
and no net profit as of now.
Break-even or a loss?
Marginal losses.
We are reinvesting the gross-profit for marketing.
How much do you sell the 1 kilo pack for
- and the cost of it? - One kilo
is between 449 to 500.
Manufacturing cost?
30 percent of MRP is COGAP.
- Why such low gross margin? - Good question.
On our net revenue
the gross margin is 38 percent.
- You must be providing discounts. - Yes, our network of dealers
Our super stockists and distributors...
What's the online revenue?
- 38 percent. - You manage finances? - Yes.
- Who is the CEO? - Equal partnership.
- We handle things together. - Not one CEO, right?
No.
When you have to take a call on a sum of 2 lakhs
how do you decide on it?
- A mutual decision everytime. - Never
- do I think... - Of course.
Six intelligent people can never agree upon a thing.
How will a company run without a CEO?
May I tell you why you don't fight?
Because you aren't making money.
The day you record a profit of 100 crores
no company can work without a CEO.
What will you fight about when you have no profits?
In case you need a CEO who would that be?
Maybe Chetan or me or one or two people...
You nominated yourself.
- A mutual decision. - Let's do this.
Everybody who wants Chetan as CEO put your hands up.
Done.
- You are CEO now Chetan. - Yeah!
- Me too. - What is your name?
Umesh... - Anyone who thinks Umesh should be the CEO
put your hands up.
- Him too. - Chetan is the CEO.
Is Amazon your primary platform for online sale?
Amazon and Flipkart. - How many reviews do you have on Amazon?
- More than 15,000.. - For one product.
Single product.. This is the highest.
Natural.. - Which is your bestselling product?
- Natural one. - Unsweetened? - Right.
- What's the rating on Amazon? - 4.3 to 4.5.
Is there no one else who sells peanut butter in India?
- Of course we have competition. - Who is number 1?
Pintola and MyFitness.
One minute. We have an offer for you.
Okay.. - Two sharks will be coming together in it.
- Okay.. - Vinita and I.
We make on offer of Rs. 1.5 crore
for 10 per cent.
You need to decide quickly because we won't wait for long.
I don't know if they have understood your business
but we need to understand more.
- Even I wish to understand.. - If you want to go..
We.. - We are sure. - We are not out of the game as yet.
Your unsweetened peanut butter needs sugar.
People who are not letting other sharks speak
they won't let you work.
We are real sharks.
I want to say something.
You said MyFitness is your competition.
I have already invested in it.
Yes.. - So only for that reason, I am out.
Yes. - She is out. Decide before we change our mind.
Let me tell you something..
Anupam and I are still in the game but we have some questions.
Yes, sir.. - We won't invest unless you answer those.
I agree.
What's your goal for the next 5 years?
We will achieve Rs. 500 crore. Definitely.
Our future perspective is D2C because
by spending Rs. 1 lakh, we sold stuff
worth Rs. 12 lakh in a day.
If I search on Amazon
for peanut butter, will I get options from competitors?
Alpino is among the top 3 in Amazon.
And also in Flipkart.
- Are you making an offer or not? - I will make a better offer.
Oh.. Wow..
The deal is getting interesting.
The USP of your peanut butter is that it is all natural..
Healthy.. I think this product
is not so healthy and is in a competitive space.
You say it is healthy but I see a lot of sugar in the contents.
So why are you doing all this?
Why don't you become a specialty butters company?
I disagree with Anupam.
I, as an investor
will not make you a butter company.
Your strength is wellness and you need to get a range in it.
Right.. - So, like Anupam is saying
we won't change your business vision or passion.
My expectation will be that it becomes big.
- Big.. - Right..
If you want to do that, I am with you. I can do it.
We have a chance.
Where did you buy the glasses from? - Lenskart.
Oh..
You'll get a big offer now.
His brother has four franchises of Lenskart.
Piyush, he has impressed you.
- Make an offer now. - Piyush, want to do it alone
- or with me? - I am okay with both.
- The percentage.. - It is your right..
Anupam and I are ready for 9 per cent.
Vinita and I.. They are asking for 9 per cent..
We ask 8.5.
Let me make it clear because you need to be in this business.
- Right. - My expertise
is about large business..
When I started this business
people said it will go up to Rs. 40 crore.
This year our revenue will be Rs. 24 crore.
Right. - Okay? This is not for a year or two..
I'll be with you for 10 years. Come what may.
The money I want to invest.. Along with Anupam..
We are quite aligned. We'll invest in the core of it.
On the basis of the strengths you seek
you must decide and you can discuss it amongst yourselves.
Think about it. Her mother is from Bhavnagar.
- And my parents are Gujaratis. - Our biggest
and bestselling store is in Surat.
Our product is from Gujarat.
Mr. Piyush and Mr. Anupam, can you come down to 2.5?
Did you make the counter offer only to them because
ours is.. - If you don't want it, shall we back off?
No, Namita..
- Please discuss.. - Give us one minute.. - Sure..
Thank you.
How about all four going in for 2 per cent each? - Let's do it.
Just 2 per cent? - 6 is already done, 4 will be ours.
I think it is a good deal.
Let us confuse you furthermore.
From 6.. Let's make a cricket team..
Four of us will come in and take 8 per cent.
Please decide. This is the final offer.
You are getting four sharks.
Each of us gets 2 per cent otherwise it won't be fun.
We won't put in efforts if we don't have a substantial stake.
Actually, we'll give 3 per cent stake against Rs. 1.5 crore.
I said we can't go below 8.
Can we take time? - It is an important decision. Please.
Non-negotiable. Don't come back with 3.5 per cent.
- Non-negotiable. - I'll see you out personally..
- Valuations are.. - Here..
It's 8 per cent..
- What do you think? Will they? - I doubt. - They will..
Will they?
So for Rs. 1.5 crore, accordingly..
We can take all four sharks and can dilute only 5 per cent.
Not more than that.
Sharks, I think this is the best because
we need your expertise but
regarding the product category, there is so much scope as very
few people know it.
We have already set up a vast distribution network.
You will need three things if you want to make it big.
- Money. - Yes.
But anyone can bring in more money. - Correct.
Along with that, you need strategy. - Right.
Thirdly, you need efforts, connections and network.
We can bring the second and third factors.
And we will make connections to ensure fund raising.
If you refuse us only for a 2-3 per cent
I think you'll be making a very wrong decision.
Let me keep it simple.
If your competitor raises Rs. 50 crore in future
and we help you raise around Rs. 300 crore..
Right.. - The 2-3 per cent will be your banker commission.
- Absolutely.. - You need to..
You need to spend on quality if you want to build
- the best business. - Generosity..
Thank you so much but we cannot accept the offer.
- Okay, never mind.. - All the best..
Thank you so much. Really appreciate..
- Well done.. - Thank you..
Thank you..