1 00:02:19,960 --> 00:02:20,800 Hi! 2 00:02:20,880 --> 00:02:23,960 Do you want this not to happen with you? 3 00:02:24,160 --> 00:02:26,440 That's why we present to you, 'Thea and Sid'.. 4 00:02:26,560 --> 00:02:28,760 ...a complete proposal solution. 5 00:02:32,240 --> 00:02:35,600 Hi, I am Aditi. I am 36 years old. 6 00:02:35,720 --> 00:02:38,520 And I am the founder and CEO of 'Thea and Sid'. 7 00:02:38,600 --> 00:02:40,960 Hi, I am Ashwini. I am 40 years old. 8 00:02:41,080 --> 00:02:43,960 I am the founder and CFO of 'Thea and Sid'. 9 00:02:45,040 --> 00:02:47,120 When you try to find a ring online 10 00:02:47,200 --> 00:02:51,200 then it's either traditional or it goes out of the budget. 11 00:02:51,400 --> 00:02:53,880 But you will need a ring for proposal. 12 00:02:54,000 --> 00:02:55,640 And that ring should be stylish, modern 13 00:02:55,720 --> 00:02:57,480 and which stays for a lifetime. 14 00:02:57,560 --> 00:02:59,840 Then we got an amazing idea. 15 00:03:00,080 --> 00:03:02,200 We wanted to make a website 16 00:03:02,240 --> 00:03:04,280 from where the young and budding Indian couples 17 00:03:04,360 --> 00:03:06,040 can start their love story. 18 00:03:06,400 --> 00:03:10,880 So, Sharks, if you invest only 80 lakh rupees in our idea 19 00:03:10,920 --> 00:03:13,920 for seven per cent equity 20 00:03:14,080 --> 00:03:18,280 then we can take 'Thea and Sid' to new heights of success. 21 00:03:22,800 --> 00:03:25,960 'Here, we make rings of excellent quality' 22 00:03:26,040 --> 00:03:29,680 'made of 925 sterling silver' and 6A grade cubic zirconia.' 23 00:03:29,840 --> 00:03:31,760 'We will give you ring sizer.' 24 00:03:32,120 --> 00:03:34,320 'You will get after sales service.' 25 00:03:34,600 --> 00:03:37,720 'We'll give you relevant Indian dating and proposal advice.' 26 00:03:37,800 --> 00:03:41,640 'We'll tell you inspirational real life love stories too.' 27 00:03:43,120 --> 00:03:44,360 It's really beautiful. 28 00:03:44,400 --> 00:03:45,480 - Thank you. - Thank you. 29 00:03:45,560 --> 00:03:48,160 Do you belong to a jewelers' family? 30 00:03:48,480 --> 00:03:51,200 We belong to a diamond family. 31 00:03:51,280 --> 00:03:53,440 My father was a diamond manufacturer. 32 00:03:53,520 --> 00:03:56,120 And my husband is a diamond trader. 33 00:03:56,280 --> 00:03:59,760 When did you get the idea to join this business.. 34 00:04:00,080 --> 00:04:03,280 ...and to run this business with a different concept? 35 00:04:03,360 --> 00:04:07,160 When I returned from USA after completing my course 36 00:04:07,240 --> 00:04:09,280 then we were in too much debt. 37 00:04:09,520 --> 00:04:11,120 My house was also mortgaged. 38 00:04:11,200 --> 00:04:14,320 We took out the mortgage for my education loan. 39 00:04:14,760 --> 00:04:18,840 But then the recession and I chose to come back. 40 00:04:18,880 --> 00:04:20,040 What were you studying there? 41 00:04:20,160 --> 00:04:21,240 Screenplay writing. 42 00:04:21,600 --> 00:04:24,320 Now I understand that the dance and that sequence 43 00:04:24,400 --> 00:04:26,320 was written by you. Very good. 44 00:04:26,400 --> 00:04:27,640 - Please continue. - Yes. 45 00:04:28,000 --> 00:04:30,840 Her husband's business was also not running good. 46 00:04:31,000 --> 00:04:34,320 So, the financial condition of our family was really poor. 47 00:04:34,400 --> 00:04:36,840 I told her that in Hollywood 48 00:04:37,120 --> 00:04:39,720 they need large necklaces 49 00:04:39,760 --> 00:04:42,720 which should look royal and made of sterling silver. 50 00:04:42,760 --> 00:04:45,720 So, we should start a manufacturing unit. 51 00:04:45,920 --> 00:04:47,720 And we sell them online. 52 00:04:47,800 --> 00:04:49,840 So, we started a jewelry brand 53 00:04:49,920 --> 00:04:51,160 named 'Adastra Jewelry Pvt. Ltd'. 54 00:04:51,360 --> 00:04:54,800 We manufacture and export heavy necklaces.. 55 00:04:54,800 --> 00:04:56,840 ...large earrings, tiara etc. 56 00:04:57,320 --> 00:05:00,440 And it was running so good over there 57 00:05:00,560 --> 00:05:04,520 that we thought we should give good experience to Indians too. 58 00:05:04,680 --> 00:05:07,440 We did a market testing and checked the results. 59 00:05:07,760 --> 00:05:09,200 then we found out 60 00:05:09,320 --> 00:05:11,560 that in India, only the younger generation 61 00:05:11,680 --> 00:05:14,240 likes the sterling silver and CZ jewelry. 62 00:05:14,320 --> 00:05:16,080 In India, the market of proposal 63 00:05:16,120 --> 00:05:17,880 has recently started to trend. 64 00:05:17,920 --> 00:05:19,440 There is a gap in the market 65 00:05:19,480 --> 00:05:22,080 where you can find proposal rings 66 00:05:22,240 --> 00:05:24,600 but either you will get the flexible ones 67 00:05:24,680 --> 00:05:26,080 which could break 68 00:05:26,120 --> 00:05:27,840 or you will get the ones made of gold and diamond 69 00:05:27,960 --> 00:05:29,440 which are really expensive. 70 00:05:29,560 --> 00:05:32,640 So, we thought that we should start a brand 71 00:05:32,920 --> 00:05:36,040 which will make the jewelry buying experience younger 72 00:05:36,120 --> 00:05:37,920 and more vibrant. 73 00:05:39,520 --> 00:05:42,080 For how long are you running this brand? 74 00:05:42,400 --> 00:05:45,440 It's been five months since we have started this brand. 75 00:05:45,640 --> 00:05:48,080 And we started 'Adastra' five years ago. 76 00:05:49,120 --> 00:05:51,040 I don't like your packaging too much 77 00:05:51,120 --> 00:05:52,760 because the box is very simple. 78 00:05:53,760 --> 00:05:57,240 But the marketing elements and the collaterals 79 00:05:57,320 --> 00:05:58,880 you have put inside are amazing. It's just.. 80 00:05:59,000 --> 00:06:00,760 As if you studied marketing also. 81 00:06:00,800 --> 00:06:02,160 I mean, it feels nice. 82 00:06:02,240 --> 00:06:04,080 The colour combination and the.. - Thank you. 83 00:06:04,160 --> 00:06:06,440 And what you have written.. The quirky things 84 00:06:06,480 --> 00:06:07,960 are also very nice. So.. 85 00:06:08,120 --> 00:06:09,400 So, good job on that. 86 00:06:09,560 --> 00:06:10,800 - Thank you. - I want to understand 87 00:06:10,840 --> 00:06:13,920 more on you. Do you still have the other business 88 00:06:14,000 --> 00:06:15,320 or did you stop it? 89 00:06:15,560 --> 00:06:17,360 No, 'Adastra' is still there. 90 00:06:17,400 --> 00:06:21,400 We used to run it. But we have put it in automated mode 91 00:06:21,480 --> 00:06:23,240 and assigned it to our mother. 92 00:06:23,320 --> 00:06:24,600 So, she is running that business. 93 00:06:24,640 --> 00:06:25,640 - Yes. - Mother.. 94 00:06:25,720 --> 00:06:27,200 - They gave it to their mother. - Yes. 95 00:06:27,720 --> 00:06:29,400 Don't your husbands help you with it? 96 00:06:29,440 --> 00:06:30,760 - My husband.. - I am not married. 97 00:06:30,800 --> 00:06:32,320 Did you not visit 'Shaadi.com'? 98 00:06:34,040 --> 00:06:35,320 I will visit it right after this. 99 00:06:35,400 --> 00:06:37,000 - Right. - That is all there is left now. 100 00:06:38,160 --> 00:06:42,560 So, how much is the 'Adastra' export business worth 101 00:06:42,600 --> 00:06:44,960 and what is the margin today? 102 00:06:45,320 --> 00:06:47,640 So, lifetime sale is 212 crore. 103 00:06:47,720 --> 00:06:49,640 - Tell us about one year. - Just the last year. 104 00:06:49,720 --> 00:06:51,840 During the COVID pandemic, it was two crores. 105 00:06:51,920 --> 00:06:53,480 What about last month? 106 00:06:53,600 --> 00:06:55,680 It was around ten and a half lakh. 107 00:06:55,760 --> 00:06:58,520 What is the average selling price and cost of the ring? 108 00:06:58,600 --> 00:07:00,960 The selling price of 'Thea and Sid' 109 00:07:01,040 --> 00:07:04,840 is somewhere from 1,500 to 6,500 rupees. 110 00:07:05,080 --> 00:07:07,480 And the cost price is 111 00:07:08,040 --> 00:07:11,040 between 350 to 850 rupees. 112 00:07:11,080 --> 00:07:12,560 How much is the gross margin? 113 00:07:12,640 --> 00:07:14,480 Three times to six times. 114 00:07:14,560 --> 00:07:16,360 It's 75 to 80 percent gross margin. 115 00:07:16,400 --> 00:07:18,040 - Eighty five percent. - It's a good gross margin. 116 00:07:18,080 --> 00:07:21,880 - What about the net margin? - It's around 30 percent. 117 00:07:24,400 --> 00:07:26,480 How much revenue do you make per month? 118 00:07:26,760 --> 00:07:29,840 - We make around 1,30,000.. - Your monthly revenue 119 00:07:29,920 --> 00:07:32,120 is 1,30,000 rupees from 'Thea and Sid'. 120 00:07:32,160 --> 00:07:33,080 From 'Thea and Sid'. 121 00:07:33,360 --> 00:07:34,600 Who are the buyers? 122 00:07:34,760 --> 00:07:36,880 Are they ten year olds, twenty, or twenty five.. 123 00:07:36,920 --> 00:07:39,040 - Mostly.. - It's a proposal ring, Peyush. 124 00:07:39,120 --> 00:07:41,640 - Why would ten year olds buy it? - Everything is fast nowadays. 125 00:07:42,960 --> 00:07:46,400 Who among you have used a ring to propose? 126 00:07:46,440 --> 00:07:48,400 - I have done it. - Yes, I have done it. 127 00:07:48,440 --> 00:07:50,280 - Have you? - Yes. - I had to do it too. 128 00:07:50,320 --> 00:07:51,200 On bended knee? 129 00:07:51,240 --> 00:07:53,480 - Yes, on bended knee. - Even kids do it. - Peyush.. 130 00:07:53,480 --> 00:07:54,600 - Yes, they do. - Even ten year olds. 131 00:07:54,640 --> 00:07:58,000 - All four of them have done it. - I had to kneel down. 132 00:07:58,120 --> 00:08:00,440 But if I had given her a ring like this 133 00:08:00,480 --> 00:08:02,160 - she would have refused. - Oh! 134 00:08:02,840 --> 00:08:04,040 - Why? - Why? 135 00:08:04,120 --> 00:08:06,680 - Well.. - You are right. 136 00:08:06,720 --> 00:08:08,080 I am a little confused about it. 137 00:08:08,120 --> 00:08:10,640 I am a little interested about jewellery. 138 00:08:10,680 --> 00:08:12,840 - I have worked for a jeweller. - Okay. 139 00:08:13,280 --> 00:08:17,440 When someone receives a proposal or when they are getting engaged 140 00:08:18,080 --> 00:08:22,720 they expect an expensive ring at least at that moment. 141 00:08:24,800 --> 00:08:27,200 You are bringing a product to match that expectation. 142 00:08:27,520 --> 00:08:29,920 But it's price is between 6,000 to 10,000 rupees. 143 00:08:30,760 --> 00:08:33,720 So, the market's expectation 144 00:08:33,800 --> 00:08:36,720 and your product do not match. 145 00:08:38,960 --> 00:08:42,280 I think that we should know who your target consumers are. 146 00:08:42,320 --> 00:08:45,240 Who is buying it from you? Because, you are making sales. 147 00:08:45,640 --> 00:08:48,120 Men who are aged between 18 to 24 years 148 00:08:48,200 --> 00:08:49,640 who are still unemployed 149 00:08:49,680 --> 00:08:52,240 - and wants to propose.. - Do they propose at that age? 150 00:08:52,320 --> 00:08:55,440 Proposal and engagement are two different occasions. 151 00:08:55,600 --> 00:08:57,120 During engagement 152 00:08:57,200 --> 00:09:00,680 - they expect an expensive ring.. - Right. - Gold or diamond. 153 00:09:00,760 --> 00:09:02,080 This is for girlfriend. 154 00:09:02,120 --> 00:09:04,440 The proposal is made at a destination 155 00:09:04,560 --> 00:09:08,080 - suitable for photography. - Is 80 percent of your sales 156 00:09:08,120 --> 00:09:09,320 on the Valentine's day? 157 00:09:09,720 --> 00:09:10,800 Yes, obviously. 158 00:09:10,960 --> 00:09:12,640 Basically, what you are doing is that 159 00:09:12,880 --> 00:09:16,000 if someone has to give rings to ten different girls 160 00:09:16,440 --> 00:09:18,880 they can buy ten rings worth ten thousand rupees each. 161 00:09:19,160 --> 00:09:20,400 And they can propose to ten people. 162 00:09:20,440 --> 00:09:22,720 Whoever accepts will get a proper ring. 163 00:09:22,800 --> 00:09:24,480 Yes, that's perfect. 164 00:09:24,560 --> 00:09:27,440 The target market becomes ten times bigger. 165 00:09:28,800 --> 00:09:31,440 I completely agree with one thing. 166 00:09:31,520 --> 00:09:34,320 The millennials, those from the new generation 167 00:09:34,480 --> 00:09:36,480 are looking for everyday jewellery. 168 00:09:36,560 --> 00:09:40,760 It's silver. And your product has a great finish. - Yes. 169 00:09:40,800 --> 00:09:43,080 Why don't you start a jewellery brand? 170 00:09:44,520 --> 00:09:47,000 If you make it a jewellery brand 171 00:09:47,040 --> 00:09:48,800 you can sell the engagement rings as well. 172 00:09:48,880 --> 00:09:51,480 - Okay. - And your brand will grow too. 173 00:09:51,480 --> 00:09:53,480 So, I don't think you are ready yet. 174 00:09:53,640 --> 00:09:56,080 Therefore, I am out. 175 00:09:57,400 --> 00:10:00,200 You said, there are no other products. 176 00:10:00,240 --> 00:10:01,640 We have everything. 177 00:10:01,680 --> 00:10:03,000 We have chain necklaces. 178 00:10:03,080 --> 00:10:05,360 - We have earrings.. - Wow! - But you didn't tell us. 179 00:10:05,400 --> 00:10:07,360 We have an entire range of jewellery. 180 00:10:07,440 --> 00:10:09,520 - You were selling yourself short. - Okay. 181 00:10:10,240 --> 00:10:13,120 Where are the products? Can we see them? 182 00:10:13,200 --> 00:10:14,120 Sure. 183 00:10:16,320 --> 00:10:18,240 Anupam, you are not investing. 184 00:10:18,280 --> 00:10:21,000 - Then why are you interested? - They changed the pitch. 185 00:10:21,120 --> 00:10:22,440 They changed the story. 186 00:10:26,840 --> 00:10:28,680 Let's make it a little structured. - Okay. 187 00:10:28,720 --> 00:10:31,160 - Let's talk about business. - Okay. - Sure. 188 00:10:31,240 --> 00:10:33,240 Indians are really excited about jewellery. 189 00:10:33,320 --> 00:10:34,720 - Yes. - You showed them 190 00:10:34,720 --> 00:10:37,400 too many products. Now they are engrossed. - Okay. 191 00:10:37,800 --> 00:10:40,280 Peyush, are you in or out? 192 00:10:41,120 --> 00:10:42,080 I am still thinking. 193 00:10:42,120 --> 00:10:43,160 I am waiting to hear your decision. - Right now 194 00:10:43,200 --> 00:10:44,320 he is focusing on the designs. 195 00:10:44,360 --> 00:10:46,080 I am trying to understand the business. 196 00:10:46,440 --> 00:10:48,560 What is their dream? What will they become after ten years? 197 00:10:48,640 --> 00:10:50,160 Let's make it simple for Peyush. 198 00:10:50,360 --> 00:10:54,280 The category of jewellery is a high value category. - Yes. 199 00:10:54,320 --> 00:10:58,720 Your new concept is a half baked attempt. - Okay. 200 00:10:59,720 --> 00:11:02,200 You are making a trial If you make some money 201 00:11:02,240 --> 00:11:04,240 in the new business, you will invest less time 202 00:11:04,280 --> 00:11:05,400 in the previous business. 203 00:11:05,400 --> 00:11:07,400 But you won't be able to leave the old business. 204 00:11:07,600 --> 00:11:08,720 That is my guess. 205 00:11:08,920 --> 00:11:12,080 - Yes. - Therefore, I am out. 206 00:11:12,880 --> 00:11:14,320 - No problem. - But.. 207 00:11:14,480 --> 00:11:18,600 You should focus on your old business. 208 00:11:18,720 --> 00:11:21,320 - Okay. - It will give you good returns. 209 00:11:21,360 --> 00:11:22,760 - Okay. - Thank you. - In fact.. 210 00:11:22,840 --> 00:11:26,680 Your pitch started with lifetime proposal. 211 00:11:27,040 --> 00:11:29,400 Then it became changing of girlfriends 212 00:11:29,440 --> 00:11:31,040 to Valentine proposal. 213 00:11:31,120 --> 00:11:32,840 Then you said that it's not just rings 214 00:11:32,880 --> 00:11:34,200 you have other jewellery as well. 215 00:11:34,440 --> 00:11:36,800 So, I cannot understand the value proposition. 216 00:11:36,960 --> 00:11:39,720 Because of this confusion, I am out. 217 00:11:41,040 --> 00:11:44,080 Well, it is difficult 218 00:11:44,080 --> 00:11:46,120 to understand the target audience of age range 18 to 24. 219 00:11:46,120 --> 00:11:47,280 Do you have an offer? 220 00:11:47,320 --> 00:11:49,160 I left. 221 00:11:49,280 --> 00:11:50,760 Then the entire story changed. 222 00:11:50,880 --> 00:11:52,240 Now, are you in or out? 223 00:11:52,280 --> 00:11:53,880 See, it is a life event 224 00:11:54,240 --> 00:11:55,800 where we use 225 00:11:55,800 --> 00:11:57,720 - expensive jewellery. - Yes. 226 00:11:58,200 --> 00:11:59,920 And the other category is every day jewellery. 227 00:12:00,440 --> 00:12:02,360 This is somewhere in between. 228 00:12:04,360 --> 00:12:06,840 So, they are not prepared yet. 229 00:12:08,000 --> 00:12:09,960 Right now I'm also out. 230 00:12:12,880 --> 00:12:15,480 Well, I don't find this category exciting. 231 00:12:15,560 --> 00:12:16,440 - Jewellery. - Yes. 232 00:12:16,520 --> 00:12:19,200 So, I won't be able to add much value to this 233 00:12:19,240 --> 00:12:20,520 with passion. 234 00:12:20,640 --> 00:12:22,040 That's why I'm out. 235 00:12:23,960 --> 00:12:26,360 I think your business model is solid. 236 00:12:28,400 --> 00:12:31,360 The target audience buys it for different reasons. 237 00:12:31,760 --> 00:12:33,920 They will buy it regardless of whether the proposal gets 238 00:12:33,920 --> 00:12:34,960 rejected or accepted. 239 00:12:35,240 --> 00:12:36,640 You'll get sales for sure. 240 00:12:36,840 --> 00:12:40,160 I want to join you but I'm doubtful. 241 00:12:41,680 --> 00:12:42,800 Convince me. 242 00:12:42,920 --> 00:12:47,480 Why should I invest in this business? 243 00:12:47,760 --> 00:12:50,560 I promise that we will put all possible efforts into this. 244 00:12:50,600 --> 00:12:54,200 We will not let you down for sure. 245 00:12:54,320 --> 00:12:56,160 As you see we are doing this business 246 00:12:56,160 --> 00:12:59,160 without even having an investor. 247 00:12:59,320 --> 00:13:02,200 Also, we paid the mortgage amount and saved our house. 248 00:13:02,280 --> 00:13:05,040 We have no loan liability on us. 249 00:13:05,400 --> 00:13:08,400 We have already built a successful business. 250 00:13:08,720 --> 00:13:11,200 So, we can definitely do it. 251 00:13:11,320 --> 00:13:16,120 And we have a full fledged jewellery manufacturing unit 252 00:13:16,160 --> 00:13:18,480 which we can utilize fully. 253 00:13:25,760 --> 00:13:27,800 Aditya, Ashwini, everything that you have is amazing. 254 00:13:27,840 --> 00:13:29,040 There is no doubt in that. 255 00:13:29,160 --> 00:13:31,040 You guys are fantastic. 256 00:13:31,520 --> 00:13:33,560 But I'm not getting that kick so for that reason 257 00:13:33,720 --> 00:13:35,760 I'm also out. 258 00:13:36,120 --> 00:13:37,400 Thank you. 259 00:13:38,200 --> 00:13:39,920 Thank you so much for all your time. - Thank you. 260 00:13:40,080 --> 00:13:42,360 I hope you all will consider us some day. 261 00:13:42,440 --> 00:13:44,280 - We will. - Thank you. 262 00:13:44,640 --> 00:13:47,560 - Thank you. All the best. - Take care. - Thank you. 263 00:13:54,080 --> 00:13:56,600 People look for expensive jewellery for proposing. 264 00:13:57,240 --> 00:14:00,720 I feel that these girls will make money. 265 00:14:00,720 --> 00:14:01,600 They won't lose money. 266 00:14:01,680 --> 00:14:03,760 But Aman, I think you can't get over the fact 267 00:14:03,880 --> 00:14:04,800 that you did not invest. 268 00:14:04,800 --> 00:14:06,400 But your gut instinct didn't let you. 269 00:14:06,520 --> 00:14:07,560 That's because I felt that 270 00:14:07,600 --> 00:14:09,640 the amount they asked was a little high. 271 00:14:09,640 --> 00:14:11,560 There I got confused a little. 272 00:14:12,040 --> 00:14:14,160 Otherwise it is an investable business. 273 00:14:14,280 --> 00:14:15,960 But they learnt a lot. 274 00:14:16,120 --> 00:14:17,720 Don't feel so bad. 275 00:14:17,800 --> 00:14:18,960 Give me your money. 276 00:14:36,200 --> 00:14:37,120 Hi, Sharks. 277 00:14:37,320 --> 00:14:38,480 My name is Karan. 278 00:14:38,560 --> 00:14:39,560 Karan Bharadwaj. 279 00:14:39,720 --> 00:14:42,480 And I'm the CEO at Experiential Etc. 280 00:14:42,800 --> 00:14:44,040 And I'm Prashant Pandey. 281 00:14:44,160 --> 00:14:46,000 COO of Experiential Etc. 282 00:14:46,040 --> 00:14:47,760 Sharks, 20 years of friendship. 283 00:14:48,320 --> 00:14:49,320 Hardwork. 284 00:14:49,480 --> 00:14:50,600 Undying passion. 285 00:14:50,760 --> 00:14:51,880 And one strong ambition. 286 00:14:51,960 --> 00:14:53,400 With all that we launched Crip Media 287 00:14:53,560 --> 00:14:55,440 in 2017. 288 00:14:55,640 --> 00:14:58,440 Which is now known as Experiential Etc. 289 00:14:59,480 --> 00:15:02,360 It's a such a technology led advertising agency 290 00:15:02,480 --> 00:15:05,800 which in four years worked with more than 291 00:15:05,960 --> 00:15:09,160 150 brands 292 00:15:13,880 --> 00:15:16,600 From beautiful innovative displays like Liveglasses 293 00:15:17,480 --> 00:15:18,920 to crazy technlogies like Holobikes. 294 00:15:19,080 --> 00:15:20,280 Only we have all this. 295 00:15:20,360 --> 00:15:21,720 We have really come a long way. 296 00:15:22,040 --> 00:15:23,280 Creating augmented reality experiences in the Indian market 297 00:15:25,960 --> 00:15:27,480 conducting events and exhibitions 298 00:15:27,600 --> 00:15:29,840 and creating engaging games 299 00:15:30,000 --> 00:15:31,440 has been a very exciting experience. 300 00:15:31,560 --> 00:15:34,600 So our ask is Rs. 2 Crores 301 00:15:35,000 --> 00:15:36,520 for an equity dilution of 302 00:15:36,640 --> 00:15:38,360 4 percent in Experiential Etc. 303 00:15:40,400 --> 00:15:41,880 Welcome to Shark Tank. 304 00:15:41,960 --> 00:15:42,880 Thank you, Anupam. 305 00:15:43,000 --> 00:15:45,000 How you got this idea? 306 00:15:45,680 --> 00:15:48,560 We belong to a normal middle class family. 307 00:15:48,720 --> 00:15:50,440 We failed many times but we never gave up. 308 00:15:50,560 --> 00:15:52,120 Our families has been very supportive. 309 00:15:52,120 --> 00:15:53,440 2017 is the time when we wanted to do something 310 00:15:53,520 --> 00:15:56,560 with technology. 311 00:15:56,760 --> 00:15:59,240 We wanted to do a business 312 00:15:59,240 --> 00:16:00,320 which is disruptive. 313 00:16:00,720 --> 00:16:02,440 Our first product was holovision. 314 00:16:02,480 --> 00:16:04,840 We already have done 70 to 80 campaigns using them. 315 00:16:08,160 --> 00:16:10,800 - Wow, the tyre is moving. - Yes. 316 00:16:10,920 --> 00:16:12,600 Just now I noticed. Very good. 317 00:16:13,320 --> 00:16:15,480 Our basic intention was to create 318 00:16:15,600 --> 00:16:18,040 good content for the clients 319 00:16:18,160 --> 00:16:20,120 so that we are considered as a creative agency 320 00:16:20,160 --> 00:16:21,640 and an advertisement technology agency 321 00:16:21,720 --> 00:16:23,720 not just a vendor or a supplier. 322 00:16:23,800 --> 00:16:26,200 My domain has been finance and sales. 323 00:16:26,320 --> 00:16:28,000 That's why I'm the face and the salesman of this company. 324 00:16:28,080 --> 00:16:31,280 I'm the one who takes the strategic decisions. 325 00:16:31,400 --> 00:16:33,480 And Prashant is from a real estate background. 326 00:16:33,640 --> 00:16:35,360 And he is an execution specialist. 327 00:16:35,440 --> 00:16:37,240 That's why he is the backbone of the company. 328 00:16:37,280 --> 00:16:39,480 - I've seen this in PVR. - Okay. 329 00:16:39,720 --> 00:16:41,680 So, are you the ones who introduced this in India? 330 00:16:41,720 --> 00:16:43,120 Yes. 331 00:16:43,200 --> 00:16:44,840 Who is number one in India? 332 00:16:45,040 --> 00:16:48,000 We, as we have a lot of content and we have 333 00:16:48,080 --> 00:16:49,040 worked with a lot of brands. 334 00:16:49,040 --> 00:16:51,200 - This is definitely amazing. - Yes. 335 00:16:51,320 --> 00:16:52,320 In the hologram it's you, right? 336 00:16:52,400 --> 00:16:53,360 Yes. - And 337 00:16:53,480 --> 00:16:54,640 are those spectacles our model or someone else's? 338 00:16:54,760 --> 00:16:57,280 - Yes. Your models. - Thank you. 339 00:16:57,760 --> 00:16:59,320 Good, I'm impressed with that. 340 00:16:59,360 --> 00:17:01,920 But I never used your service. 341 00:17:02,080 --> 00:17:04,360 My marketing team is familiar with the market. 342 00:17:04,720 --> 00:17:06,200 Why didn't you make a pitch to us? 343 00:17:06,720 --> 00:17:09,400 The reason being, when we started advertising 344 00:17:09,560 --> 00:17:11,480 the first thing we thought was, find someone with a big budget. 345 00:17:11,520 --> 00:17:13,800 We approached HUL, ITC and Britannia. 346 00:17:13,920 --> 00:17:15,720 - You don't have money. - I see.. 347 00:17:15,880 --> 00:17:18,840 When we got rejected, agencies started approaching us. 348 00:17:19,000 --> 00:17:21,160 We got empanelled in Group M and Dentsu Web Chutney. 349 00:17:21,440 --> 00:17:23,480 Later when we worked for the previous ones 350 00:17:23,640 --> 00:17:26,280 we got empanelled with Tata Motors 351 00:17:26,440 --> 00:17:30,280 Xiaomi and Mondelez.. Our empanelment increased. 352 00:17:30,560 --> 00:17:32,600 We did this all through 2019-2020. 353 00:17:32,840 --> 00:17:35,280 My wife is an avid fan of Lenskart and has been 354 00:17:35,400 --> 00:17:36,880 using your products for long now. 355 00:17:37,160 --> 00:17:40,640 But before we could pitch, you had integrated AR. 356 00:17:41,040 --> 00:17:42,520 What is your revenue? 357 00:17:42,680 --> 00:17:44,200 What is the profitability of this business? 358 00:17:44,280 --> 00:17:46,440 We have been profitable from the very first month of business. 359 00:17:46,600 --> 00:17:48,440 We had a revenue of 18 lakh rupees 360 00:17:48,600 --> 00:17:52,160 and in the very first year, we hit an EBITDA of 9.5 per cent. 361 00:17:52,720 --> 00:17:54,920 In the second year, we did 86 lakh rupees 362 00:17:54,960 --> 00:17:57,200 and our EBITDA was around 8.5 per cent. 363 00:17:58,560 --> 00:18:00,560 In the third year, we did 90 lakh rupees 364 00:18:00,640 --> 00:18:02,600 and our EBITDA was 7.5 per cent. 365 00:18:04,000 --> 00:18:07,520 EBITDA is the net income of a business 366 00:18:07,920 --> 00:18:10,240 after deducting all expenses like marketing 367 00:18:10,760 --> 00:18:12,640 and other expenses.. So the net income 368 00:18:12,840 --> 00:18:15,320 minus four key components that are interest 369 00:18:15,720 --> 00:18:18,160 tax, depreciation and amortisation. 370 00:18:18,440 --> 00:18:20,880 Without taking these into account, your net income is 371 00:18:21,160 --> 00:18:22,280 the EBITDA. 372 00:18:22,760 --> 00:18:25,880 During the initial 6 months of 2021-2022 373 00:18:25,920 --> 00:18:28,600 we have done business close to a crore. 374 00:18:28,960 --> 00:18:31,720 You said Xiaomi is your retailer client. - Yes. 375 00:18:32,080 --> 00:18:34,640 Suppose, in future, if I approach Xiaomi 376 00:18:35,200 --> 00:18:37,440 and offer the same service at a cheaper price 377 00:18:37,800 --> 00:18:40,040 I will get the deal. You will lose the contract. 378 00:18:40,200 --> 00:18:43,600 You may quote a lower price but cannot bring in creativity. 379 00:18:43,680 --> 00:18:45,960 How much percentage of your revenue comes from Xiaomi? 380 00:18:46,040 --> 00:18:48,280 - Around 50 lakh rupees.. - Per month? 381 00:18:48,600 --> 00:18:49,920 No.. In the past six months. 382 00:18:51,680 --> 00:18:54,880 So this year, 50 per cent of your revenue from Xiaomi. 383 00:18:55,040 --> 00:18:57,480 - Single client dependency. - Yes. 384 00:18:57,920 --> 00:18:59,760 Xiaomi goes and the revenue is gone. 385 00:18:59,840 --> 00:19:01,120 Another question on that. 386 00:19:01,160 --> 00:19:04,920 You said you made 150 brands in 4 years. - Yes. 387 00:19:05,400 --> 00:19:08,600 Now you say you are getting 50 per cent from Xiaomi. 388 00:19:08,880 --> 00:19:11,360 If you had built 150 brands 389 00:19:11,520 --> 00:19:13,760 you would not have depended on one customer. Right? 390 00:19:13,840 --> 00:19:16,800 Absolutely. - That means customers are not coming back. 391 00:19:17,000 --> 00:19:19,200 No.. - Is that what it means? - Not at all. 392 00:19:19,400 --> 00:19:20,960 In this year, we have made 50 lakh rupees but 393 00:19:21,040 --> 00:19:23,640 then there are important campaigns we did with HP 394 00:19:23,720 --> 00:19:26,240 Amazon Prime and Sun Edison. 395 00:19:26,520 --> 00:19:28,720 Apart from Xiaomi, we have worked with around 15 brands 396 00:19:28,840 --> 00:19:30,000 this year. 397 00:19:30,560 --> 00:19:32,880 - Do you have any other demo.. - Yes.. 398 00:19:32,920 --> 00:19:35,520 Demo of the product. We still don't get it. 399 00:19:35,680 --> 00:19:38,040 Sure. I can also show visuals of our digital services. 400 00:19:38,200 --> 00:19:40,800 This is the AR filter we made for boAT 401 00:19:40,880 --> 00:19:42,680 for noise cancellation. 402 00:19:43,680 --> 00:19:44,680 If you.. 403 00:19:45,560 --> 00:19:47,400 When you put the headphones on 404 00:19:47,520 --> 00:19:49,760 you cannot hear outside noise. Just open your mouth. 405 00:19:52,160 --> 00:19:53,560 Fantastic product. 406 00:19:53,880 --> 00:19:55,080 - Great.. - Anupam 407 00:19:55,160 --> 00:19:57,520 we have made a Shaadi.com filter for you. 408 00:19:57,680 --> 00:19:59,720 You can do all this on Snapchat. 409 00:19:59,760 --> 00:20:02,120 You cannot do customised branding on Snapchat until 410 00:20:02,280 --> 00:20:04,680 you.. - You can.. You can make your own filter. 411 00:20:05,440 --> 00:20:08,240 - What's this? You made me an owl. - What's on his head? 412 00:20:08,520 --> 00:20:09,840 If you can't find your match there 413 00:20:09,960 --> 00:20:12,680 - Shaadi.com is the perfect place. - Oh.. Okay. 414 00:20:13,840 --> 00:20:15,960 The service you showed Aman.. 415 00:20:16,360 --> 00:20:18,120 For how much will you sell it to Aman 416 00:20:18,200 --> 00:20:19,960 and what will your costing be for it? 417 00:20:20,040 --> 00:20:21,240 Even I want to know that. 418 00:20:21,400 --> 00:20:25,000 My costing would be around.. It will be fixed.. 419 00:20:25,440 --> 00:20:28,960 Rs. 1500 and I will sell it for around 7 lakh rupees. 420 00:20:29,320 --> 00:20:31,440 - What's the people cost? - Yes. It is Rs. 1500 421 00:20:31,480 --> 00:20:32,640 because it will take around 3 days. 422 00:20:32,720 --> 00:20:34,080 Who works for Rs. 1500.. 423 00:20:34,160 --> 00:20:37,720 Rs. 40,000 is the average salary of a.. - I'd like to say 424 00:20:37,800 --> 00:20:39,960 your ideas are phenomenal. 425 00:20:40,720 --> 00:20:43,240 You may not find a deal 426 00:20:43,400 --> 00:20:45,240 - but you will get many orders. - Right. 427 00:20:45,400 --> 00:20:48,200 In my analysis, there is practice 428 00:20:49,000 --> 00:20:51,400 - and business. - A doctor practices. 429 00:20:51,520 --> 00:20:54,480 He will perform surgeries and work in the OPD. 430 00:20:54,640 --> 00:20:56,840 He earns from that. A Chartered Accountant.. 431 00:20:57,120 --> 00:21:01,400 Lawyer.. Your idea of business is what I call practice. 432 00:21:03,320 --> 00:21:05,600 There is no reason for investing in practice 433 00:21:05,680 --> 00:21:08,960 because it is, by definition, profitable. 434 00:21:09,280 --> 00:21:11,840 The more effort and time you put in 435 00:21:11,920 --> 00:21:13,480 the more you will earn. 436 00:21:13,800 --> 00:21:15,440 But this is not business. 437 00:21:17,720 --> 00:21:21,160 So for that reason, I am out of this. 438 00:21:23,640 --> 00:21:25,840 What Mr. Ashneer said is right. 439 00:21:25,920 --> 00:21:27,800 You must run it like a business. 440 00:21:28,000 --> 00:21:30,000 It is running good and making profits 441 00:21:30,240 --> 00:21:31,960 but it is not an investible business 442 00:21:32,040 --> 00:21:33,560 for us to enter it. 443 00:21:33,840 --> 00:21:36,000 All the best. I am out for now. 444 00:21:37,320 --> 00:21:39,520 Karan and Prashant, your confidence 445 00:21:39,720 --> 00:21:41,000 your presentation 446 00:21:41,440 --> 00:21:43,200 have impressed me but 447 00:21:43,400 --> 00:21:47,160 scalability.. That means keeping the cost same 448 00:21:47,520 --> 00:21:49,400 - while increasing the sales.. - I'll answer that. 449 00:21:49,520 --> 00:21:51,840 That is not present in this business as of now. 450 00:21:53,320 --> 00:21:56,680 And that is why investing in this, especially 451 00:21:56,960 --> 00:21:58,440 at a valuation of Rs. 50 crore.. 452 00:21:58,800 --> 00:22:00,880 I don't see that return, so I am out. 453 00:22:03,040 --> 00:22:04,040 Even I am out. 454 00:22:05,320 --> 00:22:09,280 I still can't digest that your 150 brands 455 00:22:09,680 --> 00:22:12,480 are in the market but 50 per cent of your revenue 456 00:22:12,880 --> 00:22:14,480 comes only from one company. 457 00:22:14,560 --> 00:22:16,680 Customers coming back 458 00:22:16,960 --> 00:22:20,040 is a very important aspect of a service business. 459 00:22:20,280 --> 00:22:23,320 I don't see that here. So I am out. 460 00:22:25,360 --> 00:22:28,840 You are doing everything and this business has no USP. 461 00:22:30,400 --> 00:22:32,640 - There is no margin. - We have big margins. 462 00:22:32,760 --> 00:22:35,080 If the EBITDA is of 8 to 9 per cent 463 00:22:35,160 --> 00:22:37,240 then.. - That's for physical. It is greater for digital. 464 00:22:37,280 --> 00:22:39,680 - Without any funds, we are.. - Listen to the offer. 465 00:22:39,720 --> 00:22:41,360 - Why do you.. - I can make an offer 466 00:22:41,560 --> 00:22:43,480 because there is a lot of risk in it.. 467 00:22:43,560 --> 00:22:45,200 And I don't know what the future holds. 468 00:22:46,280 --> 00:22:49,560 I think making it scalable would add value to it. 469 00:22:49,720 --> 00:22:51,040 We can hire best engineers 470 00:22:51,320 --> 00:22:52,760 - to make it real business. - Yes.. 471 00:22:52,840 --> 00:22:55,000 Somewhere or the other 472 00:22:55,160 --> 00:22:57,560 we need a technology based intervention to make sales. 473 00:22:57,640 --> 00:23:00,440 People should go online and buy this service. 474 00:23:00,600 --> 00:23:04,320 If Karan goes to sell it, it cannot be scalable. 475 00:23:04,800 --> 00:23:06,560 I can give you two crores. 476 00:23:06,720 --> 00:23:09,600 but I will take at least one third share. 477 00:23:12,680 --> 00:23:15,400 You can counter offer if you like. 478 00:23:15,680 --> 00:23:17,520 I am definitely willing to negotiate 479 00:23:17,560 --> 00:23:20,160 because you and Anupam are the two sharks I was eyeing for. 480 00:23:20,440 --> 00:23:22,600 Very badly so I will make a counter to you. 481 00:23:22,720 --> 00:23:24,400 My counter offer to you 482 00:23:24,560 --> 00:23:28,320 - will be if I can have you both.. - I am already out. 483 00:23:29,840 --> 00:23:31,480 I am willing to offer eight percent. 484 00:23:31,640 --> 00:23:36,440 I will be your customer but not your investor today. 485 00:23:37,760 --> 00:23:40,480 My last offer Peyush, ten percent of equity 486 00:23:40,680 --> 00:23:42,080 and two percent of advisory shares. 487 00:23:42,360 --> 00:23:44,600 I understand and I appreciate. 488 00:23:44,760 --> 00:23:47,080 That was a good pitch with great energy. - Thanks. 489 00:23:47,600 --> 00:23:50,960 The problem is the stage at which your business is at. 490 00:23:51,320 --> 00:23:54,560 - Can you give me your best offer? - Are you open to negotiation? 491 00:23:54,840 --> 00:23:58,200 - No, I am not. - Let us wrap up. - Thank you. 492 00:23:58,320 --> 00:24:01,120 Maybe you can come back next time. - I will. 493 00:24:01,240 --> 00:24:04,160 - I will I promise you. - Thanks, we wish you the best. 494 00:24:04,280 --> 00:24:05,960 - Thank you. - All the best. 495 00:24:26,720 --> 00:24:27,680 What is it? 496 00:24:33,080 --> 00:24:37,160 Harshit, let's go for a run. You are always on laptop. 497 00:24:37,440 --> 00:24:40,280 I am watching a show. I am not coming. 498 00:24:40,560 --> 00:24:42,080 Leave it be! 499 00:24:47,280 --> 00:24:50,320 Harshit, look what I found. 500 00:24:50,640 --> 00:24:52,240 Shaker? Where did you get that? 501 00:24:52,520 --> 00:24:55,080 I got if from an app by running 30 minutes daily. 502 00:24:55,240 --> 00:24:57,920 I need it. So come with me for a run. 503 00:24:58,040 --> 00:24:59,120 Let us go for it. 504 00:25:00,480 --> 00:25:01,320 Let's go. 505 00:25:05,840 --> 00:25:09,600 Hi, Sharks. I am Sanmati. 506 00:25:09,720 --> 00:25:12,720 - I am Harshit. - He is my nephew. - He is my uncle. 507 00:25:15,360 --> 00:25:19,040 So sharks, as you saw, it is common human behavior. 508 00:25:19,200 --> 00:25:21,760 No one works without any motivation. 509 00:25:22,640 --> 00:25:25,720 So we have brought Growfitter rewards app. 510 00:25:26,000 --> 00:25:30,320 An app that looks after health and wealth. 511 00:25:30,480 --> 00:25:33,880 And you get a lot of rewards thus motivating you 512 00:25:34,040 --> 00:25:36,760 and also gives us a health insurance plan. 513 00:25:38,480 --> 00:25:41,360 And for Rs. 240 a month you get 514 00:25:41,520 --> 00:25:44,480 a health insurance cover of Rs. 5,00,000. 515 00:25:44,600 --> 00:25:47,120 And for that what we ask? 516 00:25:47,280 --> 00:25:49,560 Only 30 minutes of physical activity 517 00:25:49,680 --> 00:25:54,000 on our app, like walking, running and cycling. 518 00:25:54,280 --> 00:25:56,400 You can also take our health quiz. 519 00:25:58,080 --> 00:26:02,360 We have more than 3,50,000 downloads. 520 00:26:02,520 --> 00:26:05,440 We grow every month by 20 percent. 521 00:26:05,600 --> 00:26:09,280 And we have 15,000 paid subscribers. 522 00:26:10,200 --> 00:26:12,280 And if we speak of a market opportunity 523 00:26:12,720 --> 00:26:15,240 then we see a market of 3,00,000 Crores. 524 00:26:16,280 --> 00:26:19,600 And our target market is 75 Crore Indians 525 00:26:19,880 --> 00:26:21,520 in the age group of 18-60. 526 00:26:22,880 --> 00:26:27,120 So we are here to raise five million 527 00:26:27,400 --> 00:26:30,840 for one percent equity of our company. 528 00:26:34,000 --> 00:26:36,640 But sharks, that is not all. 529 00:26:36,760 --> 00:26:39,000 We will play a small health quiz. 530 00:26:40,400 --> 00:26:44,960 And the one who wins gets the premium prize 531 00:26:45,120 --> 00:26:46,680 our Growfitter mountain bike. 532 00:26:49,760 --> 00:26:52,360 - So sharks, are you ready? - Yes. 533 00:26:53,920 --> 00:26:55,160 So let us begin. 534 00:26:55,760 --> 00:26:59,040 Here is the first question on screen. 535 00:26:59,360 --> 00:27:01,320 What food does not have Vitamin D? 536 00:27:03,240 --> 00:27:07,200 Your options. Mushroom, tofu, caviar and Kale. 537 00:27:07,520 --> 00:27:08,640 - Anupam. - Anupam. 538 00:27:08,760 --> 00:27:11,760 I think it is Tofu. 539 00:27:13,000 --> 00:27:17,400 - The fourth Kale. - Kale! - Aman! 540 00:27:19,920 --> 00:27:21,320 Disqualified. Disqualified. 541 00:27:21,640 --> 00:27:23,360 - Caviar. - Caviar. 542 00:27:23,800 --> 00:27:26,000 Kale is the right answer! Aman! 543 00:27:26,160 --> 00:27:28,000 He is disqualified. He did not say it right. 544 00:27:28,200 --> 00:27:30,880 - I could not read it. - Aman gets point. 545 00:27:33,240 --> 00:27:37,680 Which of this is calcium rich? Broccoli, carrot, onion, tomato? 546 00:27:38,360 --> 00:27:40,960 - Aman was first. - Carrot. 547 00:27:41,080 --> 00:27:41,960 Broccoli. 548 00:27:42,120 --> 00:27:45,400 Ashneer, you are right. You get a point. 549 00:27:47,560 --> 00:27:49,760 Which of these is a compound exercise? Aman! 550 00:27:50,040 --> 00:27:53,040 Squat, biceps curl, leg extensions, calf raise. 551 00:27:53,600 --> 00:27:56,000 - Squats! Squats! - Squats! Squats! 552 00:27:56,040 --> 00:27:57,920 Anupam was the first to answer. 553 00:28:02,920 --> 00:28:05,240 - Pulses are good source of? - B! - Protein! 554 00:28:05,400 --> 00:28:09,600 Proteins! - Anupam is right here! 555 00:28:13,520 --> 00:28:15,520 Now we declare the winner. 556 00:28:19,080 --> 00:28:21,720 Anupam is the winner! Come on, Anupam! 557 00:28:22,880 --> 00:28:24,440 Anupam, please. Please. 558 00:28:28,240 --> 00:28:30,240 And this is our prize. 559 00:28:30,360 --> 00:28:33,760 Anupam, you win this bike. 560 00:28:33,920 --> 00:28:35,520 For the first time someone gave us a cheque. 561 00:28:37,960 --> 00:28:39,520 This is all for participation. 562 00:28:48,360 --> 00:28:50,920 Sanmati, Harshit. Welcome to Shark Tank. 563 00:28:51,040 --> 00:28:53,000 Thank you. - Before we go to product 564 00:28:53,000 --> 00:28:54,520 and discuss your business model 565 00:28:54,760 --> 00:28:57,040 we want to know why you started it. 566 00:28:57,240 --> 00:28:58,800 I'd like to share my story here. 567 00:28:59,040 --> 00:29:00,440 I was very skinny back in school. 568 00:29:00,520 --> 00:29:02,120 And I was bullied a lot. 569 00:29:02,160 --> 00:29:04,720 You remind me of those fitness commercials. 570 00:29:05,200 --> 00:29:06,760 Being bullied a lot. 571 00:29:07,960 --> 00:29:12,760 But I was motivated to transform myself and get fit. 572 00:29:13,040 --> 00:29:14,560 I am a chartered Accountant. 573 00:29:14,840 --> 00:29:18,080 I did a full time MBA from Narsi Monji in finance. 574 00:29:18,200 --> 00:29:20,120 I have done Masters in AI. 575 00:29:20,280 --> 00:29:22,080 And I have published three research papers. 576 00:29:22,400 --> 00:29:23,640 For re-inforced learning. 577 00:29:25,800 --> 00:29:28,280 Aman, we started this program at fitness centers 578 00:29:28,320 --> 00:29:30,320 as reward and cashback. 579 00:29:30,480 --> 00:29:32,960 And then we saw the pain point was the same there. 580 00:29:33,120 --> 00:29:34,920 People do pay but are not coming regularly. 581 00:29:35,080 --> 00:29:39,880 And with our program their attendance doubled. 582 00:29:40,200 --> 00:29:44,960 But in March 2020 pandemic the centers were closed 583 00:29:45,120 --> 00:29:48,080 and our business model was shut. 584 00:29:49,160 --> 00:29:51,680 So we wanted to reward people 585 00:29:51,720 --> 00:29:55,440 for basic activities rather thank fitness centers. 586 00:29:55,720 --> 00:30:00,080 So I studied motion sensing and made a prototype 587 00:30:00,120 --> 00:30:03,640 that tracks, walking, running and cycling to reward users. 588 00:30:03,960 --> 00:30:07,320 And when we presented this to Korean Government 589 00:30:07,640 --> 00:30:09,800 they invited us to Korea 590 00:30:09,840 --> 00:30:12,480 and we developed he app there in four months. 591 00:30:13,760 --> 00:30:16,480 And in India, we launched in mid-January 2021. 592 00:30:16,600 --> 00:30:17,600 Wow! 593 00:30:19,920 --> 00:30:23,640 And this can be tracked on every smartwatch. 594 00:30:23,680 --> 00:30:24,720 What is proprietary in this? 595 00:30:24,760 --> 00:30:27,960 We did using a smartphone. 596 00:30:28,000 --> 00:30:30,680 We wanted to capture larger audience. 597 00:30:30,840 --> 00:30:33,840 As you see not everyone has a health band. 598 00:30:34,920 --> 00:30:39,680 If I put the phone on my dog and make him run everyday 599 00:30:40,600 --> 00:30:42,760 then I will get all rewards. 600 00:30:44,440 --> 00:30:45,840 You will not. - Why? 601 00:30:45,880 --> 00:30:49,480 There is another layer to validate 602 00:30:49,560 --> 00:30:51,720 if you truly are walking or running or not. 603 00:30:52,840 --> 00:30:56,480 Tell me something. Do you charge anything upfront? 604 00:30:56,800 --> 00:30:59,200 Sir, we have a hole and hook strategy. 605 00:30:59,240 --> 00:31:00,960 First user gets short term rewards for free 606 00:31:01,240 --> 00:31:05,120 and then we promote a premium subscription 607 00:31:05,160 --> 00:31:07,520 of Rs. 99 per month 608 00:31:07,720 --> 00:31:10,920 and we already have 15,000 paid subscribers. 609 00:31:10,960 --> 00:31:14,000 So you earn 15,00,000 a month. - Yes. 610 00:31:14,040 --> 00:31:15,440 We had a revenue of Rs. 17,00,000. 611 00:31:15,480 --> 00:31:18,920 But our greater vision is to sell insurance. 612 00:31:19,200 --> 00:31:21,360 This is our customer acquisition tool. 613 00:31:21,520 --> 00:31:24,720 So what is your monthly margin in 17,00,000? 614 00:31:25,040 --> 00:31:28,160 Sir, I use 6,00,000 for rewards. 615 00:31:28,440 --> 00:31:32,120 And the 11,00,000 is my net revenue. 616 00:31:32,280 --> 00:31:34,080 What are the other expenses besides that? 617 00:31:34,120 --> 00:31:36,040 Employee cost and marketing. 618 00:31:36,080 --> 00:31:40,080 We have got influencers and micro influencers 619 00:31:40,280 --> 00:31:43,640 as our partners along with OTT platforms. 620 00:31:43,680 --> 00:31:46,880 - Promoting and spending. - How much is it, monthly? 621 00:31:47,040 --> 00:31:50,720 - Our net burn is 15,00,000. - Net burn is 15,00,000! 622 00:31:52,040 --> 00:31:54,760 Tell us of your funding history. 623 00:31:54,800 --> 00:31:56,440 How much equity you have left? 624 00:31:57,080 --> 00:32:01,880 We have 65 percent and the rest is with investors. 625 00:32:02,200 --> 00:32:04,920 We raised three crores two months ago 626 00:32:04,960 --> 00:32:05,880 at valuation of 30 crores. 627 00:32:06,040 --> 00:32:09,000 And today you are here for a valuation of 50 Crores. 628 00:32:10,360 --> 00:32:13,880 Why are you here? Be honest. 629 00:32:17,000 --> 00:32:18,120 Sir, we are here for funding. 630 00:32:18,560 --> 00:32:23,280 To have a shark like you on our CAP table. 631 00:32:23,480 --> 00:32:27,360 You know it's Shark tank and yet you offer one percent. 632 00:32:27,400 --> 00:32:29,680 - We can discuss. - Not worth our time. 633 00:32:32,280 --> 00:32:35,040 And that is the reason I am out. I wish you the best. 634 00:32:36,600 --> 00:32:38,160 Sanmati and Harshit. 635 00:32:38,440 --> 00:32:42,040 At this valuation, burning Rs 15,00,000 a month? 636 00:32:42,200 --> 00:32:43,800 I am not comfortable. 637 00:32:44,320 --> 00:32:48,520 My investment is for more cash flow. I am out. 638 00:32:50,440 --> 00:32:53,800 I feel that I have seen the models. 639 00:32:53,840 --> 00:32:56,200 The problem is X. Solution is Y. 640 00:32:56,360 --> 00:32:57,800 Revenue model is Z. 641 00:32:59,360 --> 00:33:01,640 So you have a triangular model 642 00:33:01,960 --> 00:33:05,480 making nothing from solution. 643 00:33:06,000 --> 00:33:07,760 You are giving money. 644 00:33:08,200 --> 00:33:11,360 You will earn money by third party model 645 00:33:11,400 --> 00:33:14,680 by tying up with insurance companies and try to get 646 00:33:15,160 --> 00:33:18,000 the recover for the rewards. 647 00:33:18,040 --> 00:33:22,800 Because the free stuff cannot go for lifelong. 648 00:33:23,240 --> 00:33:24,600 So I am out. 649 00:33:26,520 --> 00:33:28,360 Let me tell you what you are doing. 650 00:33:29,000 --> 00:33:30,920 Way better than we could. 651 00:33:31,080 --> 00:33:35,080 He does have a simpler way. Beware. 652 00:33:35,240 --> 00:33:37,560 There are very few people to run with a phone in pocket. 653 00:33:37,680 --> 00:33:41,480 Very few health fanatics like Peyush and Vineeta. 654 00:33:41,560 --> 00:33:43,400 We want to sit and eat desserts. 655 00:33:43,520 --> 00:33:47,040 - Speak for yourself. - You can eat butter chicken. 656 00:33:47,120 --> 00:33:51,040 - Walking is universal. - Look at the market. 657 00:33:51,480 --> 00:33:53,800 And it is all fine. 658 00:33:53,840 --> 00:33:55,320 But you drive a behavioral change. 659 00:33:56,080 --> 00:33:59,640 At the end, what are you selling? Insurance. 660 00:33:59,800 --> 00:34:00,920 And no one wants that. 661 00:34:03,080 --> 00:34:07,720 We often have that a friend of our mom selling it 662 00:34:07,840 --> 00:34:11,640 - and we end up buying it. - It even happens today. 663 00:34:12,080 --> 00:34:14,920 So you are trying to build up loyalty 664 00:34:15,200 --> 00:34:17,560 that makes earning very difficult. 665 00:34:17,920 --> 00:34:19,200 Since I will have to work hard. 666 00:34:19,800 --> 00:34:21,920 And what do I get? An insurance! 667 00:34:22,960 --> 00:34:26,760 I am not excited and yet I have to work hard. 668 00:34:27,240 --> 00:34:29,000 So I am out of it. 669 00:34:30,840 --> 00:34:32,120 You know how you can make a business out of it? 670 00:34:32,360 --> 00:34:34,000 Someone gives you Rs. 100. 671 00:34:34,160 --> 00:34:35,600 He can drop off the next month. 672 00:34:35,920 --> 00:34:38,040 Go and give it to Zomato and Swiggy. 673 00:34:38,600 --> 00:34:41,720 Saying that people are not going to run. 674 00:34:41,840 --> 00:34:44,080 You can sell them stuff. 675 00:34:44,400 --> 00:34:47,480 There it can work but not for insurance. 676 00:34:49,240 --> 00:34:50,720 And that's the reason I am out. 677 00:34:51,760 --> 00:34:53,320 So four sharks are out. 678 00:34:53,560 --> 00:34:55,640 I think you have immense energy. 679 00:34:55,920 --> 00:34:57,080 - That's a good thing. - Yes. 680 00:34:57,160 --> 00:34:59,560 But your business model is little.. 681 00:34:59,720 --> 00:35:01,000 I mean, it's like confused sperm. 682 00:35:01,120 --> 00:35:02,120 It's confused. 683 00:35:02,560 --> 00:35:03,480 Confused sperm. 684 00:35:04,440 --> 00:35:05,400 This term is used in 'Vicky Donor', right? 685 00:35:07,080 --> 00:35:08,520 You lost me at insurance. 686 00:35:10,120 --> 00:35:13,280 We want to change user's health habit. 687 00:35:13,640 --> 00:35:17,640 We have seen. If you give them small rewards. 688 00:35:17,800 --> 00:35:20,960 They roam with the shaker saying they have got it. 689 00:35:21,080 --> 00:35:22,320 They say they have got this watch. 690 00:35:22,640 --> 00:35:23,680 They display their gifts. 691 00:35:23,920 --> 00:35:25,800 Every user is taking premium subscription. 692 00:35:25,880 --> 00:35:27,080 And the best part is.. 693 00:35:27,280 --> 00:35:29,360 The user pays throughout the year. 694 00:35:29,640 --> 00:35:32,240 Because if he doesn't pay after 3 months 695 00:35:32,400 --> 00:35:34,400 his long term awards get expired. 696 00:35:34,720 --> 00:35:36,880 It's a hook and hold strategy. 697 00:35:37,280 --> 00:35:38,400 Everything is true. 698 00:35:38,480 --> 00:35:41,520 Why have you put health insurance in this? 699 00:35:43,240 --> 00:35:45,840 If there is no insurance at the end 700 00:35:46,560 --> 00:35:48,360 this business model is flawed. Right or wrong? 701 00:35:48,520 --> 00:35:51,800 No, as you can see, we have 15,000 premium users. 702 00:35:51,880 --> 00:35:54,160 There is 8 per cent convergence of active monthly users. 703 00:35:54,400 --> 00:35:55,480 We will focus on that. 704 00:35:55,800 --> 00:36:00,280 And you can also see which user likes which reward. 705 00:36:00,360 --> 00:36:02,720 Food, fashion, beauty, electronics.. 706 00:36:02,880 --> 00:36:05,040 We have a huge market in electronics, Anupam. 707 00:36:05,560 --> 00:36:07,000 - We have every brand. - What did you call me? 708 00:36:07,920 --> 00:36:08,840 Aman. Sorry. 709 00:36:09,040 --> 00:36:10,720 No, the name is confusing. It's okay. 710 00:36:12,120 --> 00:36:13,480 I am giving you a conditional offer. 711 00:36:14,720 --> 00:36:19,200 Our R and D team will validate the technology. 712 00:36:20,200 --> 00:36:23,160 And the users.. As you are claiming 713 00:36:23,600 --> 00:36:25,120 about the attention ratio. 714 00:36:25,440 --> 00:36:28,640 They will deep dive and investigate. 715 00:36:28,960 --> 00:36:29,840 Perfect. 716 00:36:30,000 --> 00:36:30,960 Give the offer. 717 00:36:32,080 --> 00:36:33,320 Rs. 50 lakh for 2 per cent. 718 00:36:35,920 --> 00:36:36,800 What do you say? 719 00:36:40,160 --> 00:36:41,400 It's okay if Aman is joining us. 720 00:36:41,600 --> 00:36:44,440 - Aman, it's a deal! - All right! 721 00:36:45,880 --> 00:36:47,240 All right, pal.. Great stuff! 722 00:36:47,720 --> 00:36:48,560 Thank you. 723 00:36:50,760 --> 00:36:53,160 We were trying to make a partnership with 'Boat'. 724 00:36:53,960 --> 00:36:55,640 Perhaps 'Shark Tank' was the platform. - You have 725 00:36:55,680 --> 00:36:58,040 crossed the river. You have found the boat. 726 00:36:58,960 --> 00:37:00,480 No, Aman's story is very similar. 727 00:37:00,600 --> 00:37:02,560 I have done CA and MBA. 728 00:37:02,640 --> 00:37:03,800 I used to follow him. 729 00:37:04,440 --> 00:37:05,320 Guys from IIT and IIM have done enough. 730 00:37:05,400 --> 00:37:06,920 It will be CAs' turn now. 731 00:37:09,120 --> 00:37:10,840 - Good job, guys! - Thank you, Aman. - Thank you. 732 00:37:10,920 --> 00:37:12,800 - India will become healthy now. - Bye. 733 00:37:17,120 --> 00:37:18,240 We have done it. 734 00:37:18,480 --> 00:37:19,360 Show the cheque. 735 00:37:58,920 --> 00:38:00,840 Greetings. My name is Yash. 736 00:38:01,240 --> 00:38:03,040 Greetings. My name is Alisha. 737 00:38:03,240 --> 00:38:05,400 And this is our start-up, C3 Med-Tech. 738 00:38:07,600 --> 00:38:09,040 Sharks, we are lucky 739 00:38:09,080 --> 00:38:11,520 that we can see this beautiful world. 740 00:38:12,080 --> 00:38:14,920 But there are blind and visually impaired people 741 00:38:15,040 --> 00:38:16,560 who can't experience this. 742 00:38:16,840 --> 00:38:18,360 But there are 80 per cent among them 743 00:38:18,480 --> 00:38:19,760 whose vision can be protected 744 00:38:20,080 --> 00:38:22,560 if they get their eyes examined on time. 745 00:38:22,920 --> 00:38:24,360 In hospitals, there are equipment 746 00:38:24,480 --> 00:38:26,840 named slit lamp and fundus camera 747 00:38:26,920 --> 00:38:28,200 which are used for eye check-up. 748 00:38:28,520 --> 00:38:33,040 These devices are large, heavy and expensive. 749 00:38:33,200 --> 00:38:36,120 To use these, you need eye-doctors 750 00:38:36,200 --> 00:38:40,160 or experienced technicians or optometrists. 751 00:38:40,560 --> 00:38:42,160 And you can't take any image or video 752 00:38:42,480 --> 00:38:45,400 in their basic version. 753 00:38:46,400 --> 00:38:47,880 Because of these features 754 00:38:48,040 --> 00:38:50,240 for telemedicine purpose 755 00:38:50,560 --> 00:38:52,360 home screening and in eye camps 756 00:38:52,920 --> 00:38:57,240 it's difficult to use these devices. - Correct. 757 00:38:57,480 --> 00:39:00,280 Considering all this 758 00:39:00,760 --> 00:39:02,440 C3 Med - Tech has developed 759 00:39:02,880 --> 00:39:05,640 smart phone based, portable and affordable 760 00:39:06,280 --> 00:39:08,520 ophthalmic devices. 761 00:39:08,720 --> 00:39:11,600 We have two devices. One is C3 vision. 762 00:39:13,200 --> 00:39:14,960 The other one is C3 fundus cam. 763 00:39:16,640 --> 00:39:19,400 The best part is, you can use any smart phone 764 00:39:19,480 --> 00:39:20,600 android or ios. 765 00:39:21,760 --> 00:39:24,440 As you can see, these are portable 766 00:39:24,520 --> 00:39:25,360 and light in weight. 767 00:39:25,440 --> 00:39:26,680 You can see the bags too. 768 00:39:26,800 --> 00:39:30,240 You can take anywhere and do eye screening. - Yes. 769 00:39:30,560 --> 00:39:34,120 - If anyone wants come.. - I want to come. - For demo. 770 00:39:34,600 --> 00:39:36,440 There are many start-ups in this phase. 771 00:39:37,160 --> 00:39:39,200 - And.. - Please, sir. - No one gives solution. 772 00:39:41,080 --> 00:39:42,680 - You have made in India? - Yes. 773 00:39:47,560 --> 00:39:50,480 This portion of yours.. You need to touch here. 774 00:39:51,200 --> 00:39:52,240 Slightly upward. 775 00:39:57,160 --> 00:39:58,920 This is not fundus. This is C3 vision.- No. 776 00:39:59,000 --> 00:40:00,160 - This is vision. - I see. 777 00:40:00,320 --> 00:40:03,880 Basically, if you show this image to the doctor 778 00:40:04,320 --> 00:40:09,080 he can diagnose the basic eye problems. 779 00:40:10,880 --> 00:40:13,400 Because of the smartphone.. If you go to any rural 780 00:40:13,480 --> 00:40:14,840 and remote area 781 00:40:15,360 --> 00:40:17,840 the technician available there 782 00:40:18,280 --> 00:40:21,280 can share the image with the doctor. 783 00:40:21,600 --> 00:40:24,800 As you have seen, it's a user-friendly device. 784 00:40:25,320 --> 00:40:30,080 High education level is not required. 785 00:40:30,160 --> 00:40:33,480 The one who can use smartphone can use this device. 786 00:40:33,560 --> 00:40:35,920 - And fundus? - Yes, this our fundus device. 787 00:40:36,080 --> 00:40:39,160 Fundus is mydriatic. It needs to be dilated. 788 00:40:39,240 --> 00:40:41,080 It can't be done without dilation. - Yes. 789 00:40:44,120 --> 00:40:46,200 We want to supply it to the ophthalmic 790 00:40:46,400 --> 00:40:49,600 and medical fraternity. 791 00:40:49,800 --> 00:40:54,120 So that everyone has an access to the basic eye check-up. 792 00:40:54,360 --> 00:40:57,400 So that we can enter rural and remote areas too. 793 00:40:57,600 --> 00:41:00,480 We are looking for 35 lakhs 794 00:41:00,680 --> 00:41:03,320 for a 6 percent equity. 795 00:41:05,640 --> 00:41:08,280 Yash and Alisha, welcome to Shark Tank. - Thank you. 796 00:41:08,480 --> 00:41:11,320 Are you scientists or innovators? 797 00:41:11,520 --> 00:41:14,240 What got you thinking about this. 798 00:41:14,440 --> 00:41:16,880 I have done my Master's in Engineering. 799 00:41:17,080 --> 00:41:18,600 - In mechanical Engineering. - Where did you do it from? 800 00:41:18,840 --> 00:41:21,320 - University of Michigan. - Okay. 801 00:41:21,720 --> 00:41:25,000 I did my thesis in Telemedicine. 802 00:41:25,240 --> 00:41:26,600 - Okay. - I learnt it there. 803 00:41:26,800 --> 00:41:29,920 How to design hardware 804 00:41:30,120 --> 00:41:31,760 for low resource areas. 805 00:41:31,960 --> 00:41:36,320 I have built it on the concept of less is more. 806 00:41:37,840 --> 00:41:42,120 Why work on it. No start-up in the world has succeeded in it. 807 00:41:42,480 --> 00:41:45,840 Why work on it? - To create a difference in the society. 808 00:41:46,000 --> 00:41:47,520 - To build something like this. - Why? 809 00:41:48,720 --> 00:41:53,000 - Any past experience? - None but 810 00:41:53,400 --> 00:41:56,280 to be honest this is all I know. 811 00:41:57,840 --> 00:41:59,960 Because that's what I studied. 812 00:42:00,160 --> 00:42:01,440 - Okay. - Very good answer. 813 00:42:03,640 --> 00:42:06,360 How did you two meet? - We are husband and wife. - Okay. 814 00:42:06,560 --> 00:42:10,160 I am a BBA and an MBA in Marketing. 815 00:42:10,360 --> 00:42:13,720 - I handle company's marketing. - Where did you do it? 816 00:42:13,920 --> 00:42:16,720 From Ahmedabad. - You both are from Ahmedabad. - Yes. - Yes. 817 00:42:17,240 --> 00:42:19,440 What as per you us the use case for it? 818 00:42:19,640 --> 00:42:22,840 Is it to find which glasses you will have to wear? 819 00:42:23,000 --> 00:42:27,320 - Or surgery... - No... - Or something else? 820 00:42:27,800 --> 00:42:29,720 Using the image you get here, the doctor can detect 821 00:42:29,920 --> 00:42:34,160 - Cataract, Diabetic retinopathy. - Okay. 822 00:42:34,360 --> 00:42:37,760 Glaucoma. And majority eye-diseases 823 00:42:37,960 --> 00:42:39,800 that causes blindness. 824 00:42:40,000 --> 00:42:41,880 We have made it for them. 825 00:42:42,080 --> 00:42:44,640 The big professional equipment... - Yes. 826 00:42:44,840 --> 00:42:48,000 Whatever that captures as an image needed for diagnosis.. 827 00:42:48,240 --> 00:42:50,640 - Is it captured in this? - No. 828 00:42:50,840 --> 00:42:53,680 Let me show you a comparative image. 829 00:42:54,600 --> 00:42:56,840 Left has the image by our machine. 830 00:42:58,200 --> 00:43:01,960 The one you see on the right is very high end and expensive 831 00:43:02,160 --> 00:43:04,480 machine's image. 832 00:43:05,120 --> 00:43:06,120 How expensive? 833 00:43:06,320 --> 00:43:09,680 - About 4 to 5 lakhs. - Slit lamp? 834 00:43:10,720 --> 00:43:13,880 - It's only worth Rs. 85, 000. - With the imaging system. 835 00:43:14,760 --> 00:43:17,600 - How much is yours? - Rs. 25, 000 836 00:43:17,800 --> 00:43:20,040 You're selling it for 26, 000. 837 00:43:20,240 --> 00:43:21,480 How can you call it cheap? 838 00:43:23,840 --> 00:43:28,200 This is an introductory price. Once we reach the scale 839 00:43:28,400 --> 00:43:31,280 - We'll work on the pricing. - What is your cost now? 840 00:43:31,480 --> 00:43:35,840 In small quantity, I get it for 15,500 with packaging. 841 00:43:36,280 --> 00:43:38,160 You need to reduce it to 50 percent. - Yeah! 842 00:43:39,200 --> 00:43:41,920 The problem in India is pretty huge. 843 00:43:42,120 --> 00:43:44,840 We are talking about 600 million people 844 00:43:45,040 --> 00:43:47,200 with eye-problems. It's not a small number. 845 00:43:48,680 --> 00:43:52,920 You are selling it at 26, 000. When an Ola driver buys a car 846 00:43:53,280 --> 00:43:55,680 the bank finances it. 847 00:43:55,880 --> 00:44:00,160 With equipment no one can finance it. No end value. 848 00:44:00,360 --> 00:44:04,560 What business will it generate? You can't sell glasses. - No. 849 00:44:04,760 --> 00:44:07,880 As per the new health allied rules 850 00:44:08,080 --> 00:44:11,640 where only an ophthalmologist can use it. 851 00:44:11,840 --> 00:44:14,400 Optometrists can't do it. Even when 852 00:44:14,600 --> 00:44:16,320 - it does not involve dexterity. - No. 853 00:44:16,520 --> 00:44:17,600 Have you thought about it? 854 00:44:20,080 --> 00:44:23,600 We got feed back from tier 2 and tier 3 cities 855 00:44:23,800 --> 00:44:27,120 they will bring us 65 percent sales. 856 00:44:27,320 --> 00:44:30,040 - Right. - Because a small town's doctor 857 00:44:30,480 --> 00:44:34,240 will find it less expensive in digitising his practice. 858 00:44:34,440 --> 00:44:37,920 The imaging equipment costs too high. 859 00:44:38,120 --> 00:44:41,080 He can uplift his practice in 34, 000 860 00:44:41,280 --> 00:44:44,480 in a way. 861 00:44:44,680 --> 00:44:49,000 They are educating a patient showing a photo. 862 00:44:49,200 --> 00:44:53,480 To convert and convince them for a treatment. 863 00:44:53,680 --> 00:44:57,120 Centre for site picked us this January. 864 00:44:57,320 --> 00:44:59,800 They bought five devices at one go. 865 00:45:00,000 --> 00:45:03,800 They are starting this for eye-cams and tele medicines. 866 00:45:05,240 --> 00:45:07,840 You're doing good work. There's need for it. 867 00:45:08,040 --> 00:45:11,240 I have very little understanding in this area. 868 00:45:11,800 --> 00:45:13,920 We have two experts here, in health care 869 00:45:13,960 --> 00:45:15,320 and in vision. 870 00:45:15,600 --> 00:45:17,480 I don't think there's anyone better than them. 871 00:45:17,560 --> 00:45:19,000 I'm out for this reason. 872 00:45:19,000 --> 00:45:20,080 I wish you the best. 873 00:45:22,000 --> 00:45:24,280 Peyush\, I want to ask you 874 00:45:24,280 --> 00:45:27,240 why so many start-ups fail 875 00:45:28,000 --> 00:45:28,840 in this area. 876 00:45:29,080 --> 00:45:31,360 The foremost problem is vision correction. 877 00:45:31,600 --> 00:45:33,280 They haven't solved it yet. 878 00:45:33,280 --> 00:45:34,400 Here, they'll take a picture 879 00:45:34,440 --> 00:45:36,240 - which someone will analyse. - Correct. 880 00:45:36,600 --> 00:45:39,120 software with AI have been created 881 00:45:39,440 --> 00:45:41,560 that can do pattern recognition 882 00:45:41,600 --> 00:45:45,480 and tell the likelihood of diabetic retinopathy. 883 00:45:45,480 --> 00:45:47,520 Correct.. - Or of Glaucoma or cataract.. 884 00:45:47,720 --> 00:45:50,040 However, this is yet to be perfected. 885 00:45:51,720 --> 00:45:53,920 When investors invest in such companies 886 00:45:53,960 --> 00:45:55,800 they think that.. 887 00:45:55,800 --> 00:45:58,360 Like now, they've sold 500 or so devices 888 00:45:59,000 --> 00:46:00,600 and go into sales. 889 00:46:00,840 --> 00:46:03,800 They start putting more money into sales than they 890 00:46:03,800 --> 00:46:05,280 can for research and development. 891 00:46:05,760 --> 00:46:08,600 This is a very profitable business for 892 00:46:08,840 --> 00:46:10,720 an ophthalmologist.. 893 00:46:10,760 --> 00:46:12,680 - Is this the issue globally too? - Yes, it is.. 894 00:46:12,720 --> 00:46:13,520 They all want to sell devices.. 895 00:46:13,560 --> 00:46:14,480 They all get into sales 896 00:46:14,520 --> 00:46:16,440 expecting success but hitting saturation point. 897 00:46:17,480 --> 00:46:19,560 I understand your business. 898 00:46:20,280 --> 00:46:21,760 Then invest some money into it. 899 00:46:22,920 --> 00:46:24,320 Yash and Alisha 900 00:46:24,360 --> 00:46:26,840 I don't think Rs. 35 Lakhs will do anything. 901 00:46:28,240 --> 00:46:31,480 There's a need for high public-private partnership 902 00:46:31,800 --> 00:46:34,000 and massive funding 903 00:46:34,240 --> 00:46:37,120 to solve this problem at a deeper level. 904 00:46:37,440 --> 00:46:38,880 For that reason, I'm out. 905 00:46:40,720 --> 00:46:42,120 Since she's unable to invest in this 906 00:46:42,160 --> 00:46:45,520 I obviously won't be able to bring proper value to this. 907 00:46:45,800 --> 00:46:47,920 For that reason, I'm also out. 908 00:46:49,560 --> 00:46:51,800 I'll tell you my decision. I'm also out of this. 909 00:46:53,840 --> 00:46:56,960 Because I don't understand this field enough. 910 00:46:57,000 --> 00:46:57,880 Thank you. 911 00:46:58,640 --> 00:47:00,360 What are your sales figures so far? 912 00:47:00,720 --> 00:47:01,840 Of Rs. 22 Lakhs. 913 00:47:01,840 --> 00:47:04,800 Will you be okay with it if I say that you shouldn't sell it? 914 00:47:06,040 --> 00:47:07,400 Sir, we can balance out.. 915 00:47:08,640 --> 00:47:10,680 Let me tell you, I wouldn't be interested in you 916 00:47:10,680 --> 00:47:12,600 selling this device at the moment. - Okay. 917 00:47:12,920 --> 00:47:14,720 We could target one problem 918 00:47:14,720 --> 00:47:17,280 cataract, for an instance. It's a huge issue in India. 919 00:47:17,440 --> 00:47:19,000 Or fundus photography.. 920 00:47:19,080 --> 00:47:21,760 Diabetic retinopathy is a big problem in India. 921 00:47:21,880 --> 00:47:22,840 That problem, for an instance. 922 00:47:22,960 --> 00:47:26,000 Make the best device in the world for that problem.. 923 00:47:26,200 --> 00:47:27,680 As well as the cheapest.. 924 00:47:27,720 --> 00:47:30,320 Rs. 26,000 can't be called cheap in India. 925 00:47:30,440 --> 00:47:32,160 It's cheaper than that. 926 00:47:32,200 --> 00:47:35,200 If that could be your interest, I could invest money. 927 00:47:37,440 --> 00:47:40,080 I'll make the offer, then.. What's your ask? 928 00:47:40,080 --> 00:47:41,240 Rs. 35 Lakhs.. 929 00:47:41,280 --> 00:47:44,080 Rs. 35 Lakhs for one-third of the equity. 930 00:47:47,080 --> 00:47:49,400 More money would have to be invested too.. 931 00:47:52,760 --> 00:47:54,960 - Can we take.. - Discuss with each other. 932 00:47:59,120 --> 00:48:02,760 Peyush\, if no one globally has solved this problem 933 00:48:03,000 --> 00:48:04,840 why are you confident that they'll.. 934 00:48:04,840 --> 00:48:07,160 - I'm confident of myself. - He'll work in one direction 935 00:48:07,200 --> 00:48:08,880 - on one problem.. - I'm confident that 936 00:48:08,920 --> 00:48:11,480 if I make them focus on one problem 937 00:48:11,520 --> 00:48:13,280 rather than selling this box.. 938 00:48:13,600 --> 00:48:14,600 I don't get something. 939 00:48:14,640 --> 00:48:16,760 He can't get anyone to do this for Rs. 35 Lakhs. 940 00:48:16,960 --> 00:48:18,040 That's not my field! 941 00:48:18,080 --> 00:48:19,520 I sell these glasses. 942 00:48:19,600 --> 00:48:20,880 This is a problem of different magnitude. - Right. 943 00:48:20,880 --> 00:48:22,200 This isn't my field of work. 944 00:48:22,440 --> 00:48:23,840 How are you confident, then? 945 00:48:23,880 --> 00:48:25,160 Peyush\, if no one globally has solved this problem 946 00:48:25,160 --> 00:48:26,720 They're in the field of vision problems. 947 00:48:26,760 --> 00:48:28,280 My business isn't 948 00:48:28,280 --> 00:48:29,760 for this problem. 949 00:48:37,640 --> 00:48:41,520 Can you agree for around 15 or 20 per cent of equity? 950 00:48:43,320 --> 00:48:44,400 No. 951 00:48:46,320 --> 00:48:48,240 Let me tell you, there's a lot of work to do here. 952 00:48:50,000 --> 00:48:52,000 I don't see a revenue stream right now. 953 00:48:53,000 --> 00:48:56,040 I obviously won't be able to bring proper value to this. 954 00:48:56,400 --> 00:48:57,960 I want to help with that. 955 00:48:58,240 --> 00:49:01,040 I can help you with customer trials and focusing. 956 00:49:01,200 --> 00:49:04,000 I know all start-ups and entrepreneur in the world. 957 00:49:04,360 --> 00:49:06,240 I've got all their devices in my office 958 00:49:06,240 --> 00:49:07,440 all of which I've tested. 959 00:49:07,480 --> 00:49:11,560 I've got optometrist, who can test these devices.. 960 00:49:11,960 --> 00:49:13,800 They'll give you feedback and provide data. 961 00:49:13,800 --> 00:49:15,840 To build a layer of AI on top of this, in the future 962 00:49:15,840 --> 00:49:17,040 you'll need a lot of data. 963 00:49:17,320 --> 00:49:19,080 So there's a lot of what can be done in this direction. 964 00:49:19,280 --> 00:49:21,560 So your ask of equity is not negotiable? 965 00:49:23,320 --> 00:49:24,680 What have you decided? 966 00:49:28,320 --> 00:49:29,760 Thank you for your help but.. 967 00:49:31,480 --> 00:49:33,080 I'll decline the offer. 968 00:49:34,600 --> 00:49:35,480 Okay. 969 00:49:36,000 --> 00:49:39,520 - Well, you've been brave.. - It's great.. 970 00:49:39,560 --> 00:49:42,200 You've got courage, which is very important. 971 00:49:42,240 --> 00:49:44,800 Well, you guys can reach an agreement outside too. 972 00:49:44,840 --> 00:49:45,640 Good luck. 973 00:49:45,680 --> 00:49:47,200 - All the best.. - Thank you.. 974 00:49:47,240 --> 00:49:48,240 Keep up the good work. 975 00:49:48,520 --> 00:49:49,560 - Thank you. - Bye. 976 00:50:10,320 --> 00:50:12,440 Our vision, as a company, is a bit different. 977 00:50:12,600 --> 00:50:14,280 - It didn't align with theirs.. - Right.. 978 00:50:14,320 --> 00:50:16,040 For that reason.. 979 00:50:16,240 --> 00:50:20,520 And Peyush asked for 33 per cent of equity.. 980 00:50:21,040 --> 00:50:22,920 That was a lot for us.. 981 00:50:22,920 --> 00:50:24,400 For that reason, we didn't take his offer.