- 'Are you ready? - I was born ready.'
- 'Whoa! - Ah!'
'It takes just 20 minutes to fit this onto a normal cycle'
'and upgrade it into an electric cycle.'
'The food product that is the most adulterated'
'is spices.'
'And to change the landscape of this industry, we present Zoff.'
'What made you take the plunge into a cluttered market?'
'The market is huge.'
'You are sitting in Pune and seeing the same three brands.'
[Sharks laugh]
'You seem to know a lot about spices.'
'I can tell you the name of all the spices in the market.'
'Name four, ma'am.'
[Sharks laugh]
'We've only seen problems since childhood.'
'But instead of ignoring those problems,'
'we would work on finding a solution to them.'
[machine whirs]
'We built a tea and glass washing machine.'
'It can wash 15 glasses together in just 30 seconds.'
'Your story will inspire children from villages'
'to innovate and make a successful business.'
'We bring to you Daryaganj from Delhi.'
'Kundan Lal Jaggi,'
'the man who invented butter chicken and dal makhani,'
- 'was my grandfather. - Whoa!'
- 'I ate at your restaurant frequently. - That's good to know.'
'I thought I'd write to you saying I want to be an investor.'
- 'Oh my God! - That's amazing.'
'Our ask is Rs. 90 lakhs for 0.5%.'
'That's an extremely high valuation.'
- 'Our last month's online sales were Rs. 4.5 crores. - Online.'
[gasps]
'Okay. 'I'll make you an offer.'
'I'll make you an offer. No conditions.'
'I'll make you an offer.'
'You need to make a decision.'
'They will, Aman. Don't get impatient.'
'You didn't let me speak. You spoke all this while.'
'You don't understand businesses. What can I do?'
'You look extremely confused. So, my offer stands revoked.'
'I'm out.'
[theme music playing]
[theme music continues]
[theme music fading]
Sharks, Indians prefer everything spicy.
Whether it be Bollywood movies or the neighbourhood aunty's gossip.
We want everything to be spicy!
If we love spices so much,
why do we still use the same old spice brands?
Speaking of brands, there are only a handful.
They look the same.
There has been no innovation for the last 50 years.
They were sold loose earlier and now, they are packaged.
Sharks, do you know?
The spice market is worth Rs. 80,000 crores.
So, the food product that is the most adulterated
is spices.
You will be shocked to know
that bricks, chemicals,
chaff and even cow dung are mixed with spices.
What!
This is a research report by Zee News.
You can look it up.
Ew!
And to change the landscape of this industry, we present Zoff.
[euphoric music playing]
Sharks, I am Akash Kumar Agrawal.
We are the founders of Zoff.
Zoff is one of the best spice brands in Central India
with cool grinding technology.
It comes in unique zip lock packaging
made in proper lab facilities.
The quality is properly maintained.
To increase brand value,
Shilpa Shetty has been our brand ambassador since day one
so we can gain people's trust.
- Wow! - Nice.
Zoff's journey began in 2018.
the top five spice players in India
and the number one online spice player.
Sharks, we invite you to invest in our vision.
We demand
- Oh... - Fantastic.
Did you have hair like that two years ago?
I have seen old pictures of you.
- You have! - I envy your life.
- [Sharks laugh] - Oh! Your wife... What did you say?
I said life.
Did you hear wife?
[Sharks laugh]
Say that you had said both!
No, you must envy my wife because she's married to me.
- Oh my God! - True, yes.
Akash and Ashish, welcome to Shark Tank.
Thank you, ma'am.
Tell me about Raipur.
- I've never been there in my life. - Raipur is basically a steel hub.
Huge steel plants are located there.
We come from there too.
Our background is that of steel too, but when we started this business,
people said we were doing something different altogether.
- We should be doing steel. - Lovely.
Tell me something.
I do a lot of cooking especially when I go to the US.
- I have a favourite spice brand for different cuisines. - Okay.
What made you take the plunge into a cluttered market?
The market is huge.
You are sitting in Pune and seeing the same three brands.
[Sharks laugh]
Those in Tamil Nadu only know of Aachi.
Those in Chhattisgarh only know of MDH.
[laughs]
You seem to know a lot about spices.
You're a fine one to talk though you sit in Pune!
I can tell you the name of all the spices in the market.
Name four, ma'am.
- Just name four. - Go on!
[Sharks laugh]
Sir, come here! That was amazing!
You exude confidence!
- Name four spice brands. - Go on.
Oh, God!
- Name four spice brands. - Tell us.
Name four spice brands.
- I'm sure you haven't used more. - Yes. Tell us.
Parampara.
- Parampara is Maharashtra-based and caters just to Pune. - Hey!
I use Parampara!
Okay, Parampara.
Kitchen King.
Kitchen King isn't a spice brand, ma'am.
- Hey! - [Sharks laugh]
- Kitchen King is the product. - Not the brand.
- It's not a brand name. - Everest offers Kitchen King range.
- Namita, savage! - Kitchen King is a brand!
- No! - It's the product name.
- We have that too. - There's our Kitchen King.
- Look. - There it is.
[Sharks laugh]
- I'll tell you four names. - Okay.
- Zoff, Zoff, Zoff... - Yes.
- And Zoff! - That's more like it, sir.
- Am I right? - Yes.
This was the best.
You were telling us about your journey.
Coming from a background of steel plants,
why'd you make a foray into the business of spices?
Ma'am, I studied MDH's profit and loss for 2018.
Alright.
Out of a Rs. 900-crore turnover,
they are earning Rs. 400-crores net profit.
The market is big and the gross margin is high.
The players function in the regional markets.
When we started our journey,
our approach from the very first day was
to focus on areas that traditional players neglected.
That's online selling.
Our business boomed.
If I talk about the last three years,
we've seen a growth of 400% online.
- Very good. Solid business. - Amazing.
- Good job, guys.
- Superb. We're speechless. - Thank you, sir.
[music playing]
You mentioned the number of regional players was higher.
Are you pan-India
or even you are concentrated in a few regions?
Ma'am, online players want a prompt supply of goods.
Everest and MDH don't support them.
They make a turnover of Rs. 2200 crores from the distributor network.
Online is secondary to them.
Even though MDH has demand, they're unwilling to expand.
They can go from Rs. 1200 to 1700 crores, but they don't want to.
Tell me something.
Did the entrepreneur of MDH cause you any harm?
[laughs]
- No. - Did he?
It seems to me you've sworn to steal his profits!
Yes, sir! That's the goal.
[Sharks laugh]
Great! He's even admitting to it!
- His gross margin is huge. - Yes.
I want to know what that man is really doing!
[Sharks laugh]
His profit is 50%!
How do I think like him? What do I do to make 50% profit
and get to where he is in 5 to 7 years?
[Sharks laugh]
I'm glad to have met you.
- Yes, sure. - Yes.
[music playing]
Sir, we use cool grinding technology.
This is a lower-end version of a cryogenic machine.
Cryogenic is basically used in pharma.
To make the spice cost-effective, we don't add nitrogen.
We grind the spices at room temperature
which keeps the nutrients intact.
Secondly, we follow a no-dust system and no hand touching.
Once the raw material goes into the plant,
it isn't hand-touched. You get the packaged product.
[music playing]
We follow a seven-stage cleaning system.
It's raw material after all.
Unorganised players blindly buy it and grind it.
But whatever grows out of soil
contains dust particles, stones and even chaff.
They grind everything.
Our roasting is spot on.
You have to roast some spices to generate the aroma.
Like cumin seeds have to be roasted.
We have in-house cold storage
where all the raw material is stored.
The plant is impressive.
What's its size?
Sir, the plant is 40,000 square-foot spread across 3 acres of land.
- How many people work there? - Around 200.
What's the cost of the plant?
Around Rs. 20 crores.
- Rs. 20 crores! - Yes.
- Could you show us your product samples? - Yes.
We launched this during covid.
Alright. What is this?
- Pure spice, sir. - Which one?
- Oh, turmeric. Show me the others. - Turmeric.
You can open it and take a whiff.
[music playing]
See this one.
What's your price like?
Our prices are at par with competitors.
You compare with the market.
Yes, he's the leader. So, our price is in the same range.
Okay. How much of your money did you invest in the business?
We've invested Rs. 30 crores.
We have a term loan of around Rs. 20 crores.
Our working capital is Rs. 8 crores.
So, your equity is Rs. 60 crores.
Rs. 12.50 crores is equity
and Rs. 17.5 crores is an unsecured loan.
- Our dad invested all the money. - Yes.
- So, your total employed capital is Rs. 60 crores. - Yes.
What departments do the two of you handle?
Sir, I handle online sales and finance.
He handles the offline sales
and the operations, and logistics of our plant.
Marketing is handled by both of us together.
We are planning to appoint a CEO but we don't have one presently.
[tense music]
When an investor decides to invest in a company,
there must be a point of contact
who can answer all their questions.
Why doesn't your company have a CEO?
Please answer this.
Ma'am, we didn't think about appointing a CEO yet.
Why didn't you? If an investor comes, who will he talk to?
[suspenseful music]
Despite that, we have made our business a success.
We did our best and grew our business to a respectable level.
I think you are talking utter rubbish.
Let's come to the point.
You came here for marketing. You don't have any other motive.
- No, sir! - I'll tell you the reason.
Let me clarify my point. Okay?
You have a loan of Rs. 50 crores.
It isn't Rs. 50 crores but Rs. 27 crores.
The bank gave you Rs. 27 crores and Rs. 30 crores is your personal loan.
So it adds up to Rs. 50 crores, right?
- Your dad invested his money, right? - Yes.
Your profit per year is Rs. 5 crores.
You are asking for Rs. 200 crores.
Even if I agree to give you Rs. 50 crores,
when would my equity be free?
It'd be free ten years later after you pay off your loan.
- Last! - My turn will be the last. After you pay off the loan.
My friend, how will I get my money?
You didn't come here for investment. You just came here to do marketing.
[adventurous music]
I came here to get the expertise.
If I wanted to do marketing, I could have got money from the VC or bank.
Boss, you don't understand that your debt-to-equity ratio isn't right
Until you pay off your debt,
my equity won't be valued. Right now your equity is at stake.
Debt-to-equity ratio.
Debt means the loan taken by the company.
Equity refers to the money invested by the founders.
The ratio between the two is called a debt-to-equity ratio.
All the banks sanction a loan only after checking this ratio.
Sir, you are worried about Rs. 60 crores now.
- Two years later our business would be worth Rs. 200 crores. - How?
You grew your business from Rs. 100 crores to Rs. 1,000 crores.
You, Aman and all the other Sharks know
that reaching Rs. 100 crores mark is tough.
After that, with the help of the right guidelines and marketing
it's easy to reach Rs. 500 crore mark
and then one can easily reach Rs. 900 crore mark.
You are running the business so you should tell us the strategy.
We can't grow your business.
Sir, our simple strategy is to ride the giants.
Flipkart did the biggest listing in 2020.
The journey that started with Rs. 5 lakhs has reached Rs. 2 crores.
They gave me a projection of 5 crores in the next three years.
- One year ago... - Reaching Rs. 5 cores in 3 years is no big deal.
Sir, I'm talking about the monthly turnover in five years.
I'll withdraw my money. So that's my offer.
I have two questions.
If there's a difference of opinion between you two,
whose decision is the final one?
In the current scenario, we two are running the company
so we need to figure out everything but when an investor comes...
No. You are giving a lengthy answer to a simple question.
[sweeping music]
Please answer! You may take any name. How does it matter?
- Who is the elder one? - It's me.
My decision would be final.
Alright. Your decision would be final.
But he doesn't agree.
My second question is, are you trying to raise funds in the market?
- What will be the size of the round you want to raise? - Good question.
We'll do it after reaching Rs. 100 crores.
How much money do you have in the bank?
We have Rs. 1 crore in the bank.
Just Rs. 1 crore?
How much money is invested as working capital?
If we add up everything, it's around Rs. 12 crores.
- Around Rs. 11 crores to 12... - Including stock, FG and debt.
[tense music]
I'll give you an offer.
Rs. 50 lakhs for 0.75% equity which gives you a better valuation.
And Rs. 50 lakhs debt.
You look confused so my offer is gone.
I'm out.
As it is, his offer was a useless one. Please ignore it.
His offer was of no use.
Yes! We knew that you would have rejected his offer.
Shh!
My decision is that I'm out.
Let me tell you the primary reason.
For me, the position of CEO is of utmost importance.
I have been watching that you two overlap each other in discussions.
There's too much confusion.
For this reason, I'm out.
What does your dad do? How big is his business?
It's an integrated steel plant. I mean it has a power plant,
sponge iron and a furnace.
How much profit does he make?
Sir, it was Rs. 30 crores last year.
A profit of Rs. 30 crores. So you belong to a well-to-do family.
There's a partnership. There are two partners in that business.
Why didn't your dad ask you to join his business?
Or how did you refuse his offer?
Dad noticed right at the start that steel doesn't give us a kick.
Steel is limited to regional businesses.
It depends on government policies. And they affect the decisions.
Please make a decision.
Aman, they will. Please don't be hasty.
You didn't allow me to talk as you kept talking to him.
You don't understand businesses. I can't help it.
And you give wrong valuations all the time.
Let me come to the point. I like the chemistry between you two.
You appear passionate too.
It's critical to have a CEO for decision-making.
You needn't.
I have a better offer than Aman and the others.
I'll give you Rs. 1 crore for 1.5% equity.
- You copy my offer daily. - I didn't offer a debt like you.
- We want to talk in private. - Sure!
- Rs. 1 crore for 1%. - No.
We won't let them do that.
[suspenseful music]
Rs. 1 crore for 1% equity instead of 1.5%.
Please tell us your decision.
Let's tweak the offer a little. [laughing]
Alright.
Sir, please make it Rs. 1 crore for 0.75% equity.
Maybe because he is an attention grabber.
Rs. 1 crore for 0.75% equity is less for me.
- The valuation will... - Maybe there's some chance.
Maybe the three of us can do it together
but I think giving Rs. 1 crore for less than 1% equity isn't possible.
The three of us can't make an offer. It's no use getting 0.25% equity.
I'll give you the last offer.
You may refuse if you don't like it
or else, I'll refuse.
Rs. 1 crore for 1.25% equity.
- It seems so. - It's apparent.
- Come on, say it! - Sir, we came here to get Aman on board.
Actually, we came here to get Anupam on board.
- Then I'm leaving. - No!
You are already here. Please don't do that.
- They are trying to catch him. - All the best!
Good job! Well done!
- Good luck! - Good luck!
'In Shark Tank season 1, Ranodeep Saha and Vijaya Kumar'
'presented their handicraft brand Rare Planet.'
'Shark Namita was impressed with their vision.'
'I want to make an offer to you.'
- '- Woo-hoo! - Wow!'
- '- Congratulations! - Congratulations!'
[thrilling music]
We are at Pune airport today.
It's Mother Namita's city
[vocalising]
There you are.
They used to paint earthenwares and opened stalls in schools.
Now they have 32 stalls.
Shark Tank helped us
soar. [vocalising]
Earlier, we wanted to introduce ourselves to the airport authorities
'It has taught the common man'
and common woman of India to dream big.'
Have big dreams!
[sweeping music]
Since we connected to the artisans,
we keep them engaged for 12 months a year.
[dramatic music]
The 15,000 artisans
whose lives are transformed by us
are successful today.
[triumphant music]
We don't want to stop here.
We want to increase the number to 1.5 lakhs from 15,000
and transform the lives of 1.5 lakh artisans.
Ranodeep has all the qualities
of a founder.
Within six to seven months,
he showed a massive change
in sales, stores and the number of artisans impacted.
I feel very proud.
[inspirational music]
[ethereal music]
- Hello, Sharks! - Hello!
Our childhood was joyous.
We played several games
- and we had a treasure trove of toys. - Wow!
They taught us a lot.
For example, the toy boat that sailed like a ship
- taught us the principles of Science. - That's right.
Classic games like Pachisi, Chauka Bara and Navakankari
taught us skills like logic building,
strategy development and social skills.
On the other hand, kids nowadays
entertain themselves
with electronic gadgets most of the time.
Their natural skills are being adversely affected.
To develop their skills
and revive the classic toys, we launched Desi Toys.
[inspirational music]
Desi Toys is an Indian toy brand
that has brought the timeless collection back
and has given it an Indian touch.
We sell Dashavatar Snakes and Ladders,
Mahabharat Pachisi,
Ramayan Chauka Bara and other such games.
We are generating employment for Indian artisans.
All our products are 100% made in India
You may buy our products on our website,
My ask is Rs. 50 lakhs for 3% equity.
I played with all these toys in my childhood. All of them.
Did you play with the kitchen set too?
I had seven cousin-sisters
as we lived in a joint family and we played together.
Nice!
- Swapna, welcome to Shark Tank season 2. - Thank you!
Please brief us about your history. Where did you study?
I pursued MBA with marketing as my specialisation from Mumbai.
- Also, I did retail specialisation from IIM Calcutta. - Okay.
When you decided to start this venture,
how did you figure this out?
I researched a lot
and I found out that artisans are available.
They weren't aware of making quality products
because Indians have scant regard for quality.
We made sure
that we won't compromise with quality come what may
and made all the toys in India.
Wonderful.
Can we see some samples?
Yes, of course. Sure!
Namita, do you want to play with Putt Putt Nav?
- Can you please call it a boat for my promotion? - Oh, yes!
I'll play with a spinning top.
I used to be crazy about spinning tops.
You may play with it.
- What is it? Is it a skipping rope? - Cup & Ball game.
- Oh! - What is it?
- It's Gilli Danda. - Gilli Danda! Wow!
- Is it made of plastic? - No plastic is used.
Aman, let's play with the boat. Come on!
[funky music]
I'm your partner in playing with the boat today.
[laughing]
- We'll fill the pipe with water. - Alright.
[joyful music]
I'm almost there.
Hey!
[laughing]
Epic reaction!
Swapna, we acted like kids during Skippi's pitch
and it's the second time we are acting like kids.
Both of them have a nostalgic feel.
Yay, baby!
Not bad, bro! Not bad!
[screaming] [laughing]
I'm pleased to see your toys.
I feel so nice. I feel nostalgic.
I want to play these games with the kids.
- Will you catch the ball? - Alright.
[joyful music]
- Are you ready? - Aim it towards me. Come on!
Come on, hit it!
[laughing]
One last try.
Hey! Close!
It's moving!
These are beautiful. Who designed them?
Our team designed it.
- Your team did it. They are appealing. - Yes, sir.
Swapna, please brief us about your sales.
We started this private limited company in June 2017.
Give us a breakup.
Our 80% sales comes from B2B business.
our gross margin is 65% to 70%.
What was last month's profit?
Rs. 3.6 lakhs.
Don't you think Rs. 500 is steep for this?
[tense music playing]
We manage to sell it at that price.
Look, everything will sell. It'll sell even for Rs. 1000.
But how many people will buy it is what she means.
Our range starts from Rs. 199
and goes up to Rs. 3999.
Mr. Jain played with these toys during his childhood.
But children these days, including his, don't play with them.
[intense music playing]
But making these toys is a bit expensive.
The number of those manufacturing them in large amounts
also reduced.
In fact, a lot of them shut down.
When children do not know about these games
or find them anywhere, they obviously won't play them.
But, Swapna, is your competition cheaper plastic?
Maybe Chinese toys or is your competition gadgets,
phones and television?
Gadgets too.
Parents are realising this.
They know that physical play is very important
for growth and development.
But you do get Montessori toys.
We invested in a toy company last season by the name Ariro Toys.
They're doing well.
Plus there is Lego, magnetised... There are options for kids.
The market expands the moment you look beyond desi toys.
Your passion is clearly visible.
I'm just trying to understand what the issue is in scaling.
The issue, I believe, is visibility.
Coming to offline stores, let's take Hamleys for instance.
We started with just 15 stores earlier.
Then it went up to 40 stores.
Their response is good.
So, they now stock us in 80 to 85 stores.
What worries me is
that even though you're in 85 stores,
your sales are comparatively low.
We are growing by almost 100%, sir.
But on a small base.
I feel this is a highly cluttered market
with too many players.
Scaling it will have loads of challenges.
For that reason, I am out.
- But I wish you the best. - Thanks.
The toys you sell
are solely on the point of nostalgia.
Anyone can copy it
and sell it for cheap once the demand is established.
The second part is the market is small,
which we have already established.
For those reasons, I am out.
But three Sharks are remaining. Hopefully, you'll get a deal.
Swapna, the skill that is required
to take this to the next level and to create awareness
is not your core strength, in my view.
Your core strength is making good products and retail.
So, it can't scale without this.
It'll make about Rs. 5 to 10 crores at the most.
So, I am out for now. Best of luck.
Look, you did remind us of our childhood days.
It was fun to play with these toys.
But I feel
that growth will become tough in this market beyond a point.
So, I am out too.
I'm aware that distribution is your strength.
Making it available in Hamleys across
is impossible for a new brand.
I have realised that you're a good founder.
You're persistent with a fighting spirit.
I'll make you an offer.
- But not for this business. - Oh!
This business will be on the side. It can't scale in my view.
You should be open to making
similar products with other brands
which will expand the horizon. I believe you have it in you.
I'm betting on you and not this business.
[intense music playing]
You asked for Rs. 50 lakhs.
I'll offer you Rs. 30 lakhs debt and Rs. 20 lakhs equity.
[intense music playing]
And I want 20% equity.
[intense music playing]
I bring in complementary skills.
I can expand your vision and help with strategising.
Digital distribution for my own growth.
This is amazing. I didn't think you'd get an offer.
Think about it and give us an answer quickly.
Um, sir, I want to ask you another thing.
The business you're talking about...
Let me clarify that. Not a business of cars.
- He's talking about toys. - I am talking about toys
where you can use your skills.
Desi Toys is not doing well as a business.
We'll have to enter a new category...
- Start Funky Toys... - This is small-scale.
- Monopoly... - No, not Funky Toys.
It'll be called ToyDekho.
[intense music playing]
You can choose the name. I won't force you.
[intense music playing]
Why are you listening to them? They are out.
I'm here, talk to me.
It's our duty.
- What duty after being out? - Yes.
Oh my God!
Be careful with the equity.
[chuckles]
I am only...
Sir, I find the valuation very low honestly.
[intense music playing]
We will hit Rs. 2.5 crores this year.
Can we do Rs. 20 lakhs for 5% equity?
Really huge. I can't. I'd have agreed otherwise.
[intense music playing]
- It's huge. - Sir, at this point,
I don't think I'll be able to take this offer.
[intense music playing]
- Swapna, you stood for what you believed in. - Well done.
- Good decision. - All the best. I love the confidence you have.
- You stood by the valuation you wanted. - Yes.
I'm very happy about the confidence you've built.
I wish you all the best.
[intense music playing]
Nowadays, everyone talks about the future.
NFT, virtual reality and metaverse.
What is metaverse?
Metaverse is a new concept
in which real-world and real-time scenarios
are converted into 3D to give an immersive experience.
[upbeat music]
Metaverse helps you organise games, concerts, events,
weddings, meetings
and your business too.
[upbeat music]
I can also give my pitch using metaverse.
It'll help you take appropriate action
on the available data from anywhere in the world.
[upbeat music]
For example, Namita, you are managing 14 factories.
You must be monitoring innumerable graphs,
charts and dashboards.
And you depend on other people to take action on that data.
Sometimes you have to be present there physically.
All types of businesses face this problem.
For example, Namita,
your 3D app of enterprise metaverse
could appear like this.
In addition to your company's 3D model,
you may build a brand experience metaverse for your consumers too.
For example, Aman, you may make
a boAt store and a boAt museum for the consumers of boAt.
And it could look like this.
[thrilling music]
- Nice! - Your consumers may explore your products in 3D
and buy them right away.
The Finnish government, Spanish government
and big European and Indian clients
use our product to create their metaverse.
[upbeat music]
People treat 3D development
and metaverse development as alien concepts.
Our vision is to make it simple and accessible.
Our ask is Rs. 40 lakhs for 2% equity.
- Greetings! - Greetings!
Welcome to Shark Tank!
Yuvraj, you gave an impressive pitch.
Namita is surely attracted towards technology.
How did you start this business? Please share your journey with us.
I completed my studies at Punjab Engineering College, Chandigarh.
- PEC University of technology. - It's a good college.
I graduated in 2011 in the IT stream.
My first corporate stint at Google was through Google Summer of Code.
My next corporate stint was at Cisco.
I worked at Cisco for 1.5 years.
As you said, I have 14 factories.
- Yes! - And they are situated in different places.
It could be in the US, Jammu in India and other such places.
Exactly!
Please brief me as a laywoman
on how I will benefit exactly.
Sure. Let me give you a visual example of a factory.
First, we convert the entire factory into a 3D model.
The data of all the buildings, different devices and elements
can be viewed in a 3D heat map.
The heat map fetches all the data
and shows you in a single view what's happening in the factory.
[intense music playing]
For example, in this look,
you see that the bottom side of the building is consuming
more energy than the top
because we have mapped energy and CO2.
You can also look inside the building.
You can enter the building
to see which two machines are consuming that energy.
So, let's say you decided that these two robotic arms
need to be switched off.
You can select it from here and power them off.
And the robotic arm you select and power off
will physically power down too.
This decision-making process,
of what's going on in your factory,
getting insight and taking action,
was done in five minutes.
One is energy mapping.
- Yes. - What else?
In this case, you can also simulate the presence of people.
For instance, which machines are more in use and in which areas.
That's a presence heat map.
In the end, it's just about adding a sensor to this 3D model.
If we find the relevant sensor
by which we can fetch the information and display it here,
we can do the mapping of that 3D model in this environment also.
- This is basically a software. - Hmm.
So, if I want to use your software,
- then I will have to invest in the hardware too. - Yes.
For me, what will be my total cost
- against the value that I get? - Yes.
If we're talking about 100 machines,
let's say,
you get attrition sensors for up to ¤10 to 20.
Depending on your factory size and endpoints,
[tense music playing]
I call it Enterprise Metaverse.
Have you done anything else on it later on too?
You can explore all the products in your shop.
You can see them here and select any product.
And you can visualise it even further.
You can look at it in greater detail up close.
When you click on buy, it will redirect you to the boAt store.
[intense music playing]
Then you can buy anything from the website that you wish.
This looks like a virtual store.
You have presented a virtual store as a metaverse.
Not virtual, it's a 3D store.
- It's a 3D store. - All e-commerce stores are virtual.
- Correct. - This is just 3-dimensional.
The thing is, the software with which
the applications are made is the product.
The output is not the product.
[gripping music playing]
The no-code framework we've built
that provides you with 3D capabilities is our USP, right?
What is no-code?
No-code is you don't need to write a code
or even have knowledge of it.
Just as you drag and drop within a PowerPoint presentation,
similarly, you can make the entire application using drag and drop.
So, let me show you the crux in action.
These applications you just saw are running on a web browser.
You don't need a dedicated .exe
or to download a dedicated Android or iOS app.
- Very good. - So, as long as
an employee of your factory scans even the QR code,
he'll be able to access and view the entire 3D model on his phone.
in this order to achieve the product.
- The first layer is the hardware layer. - Okay.
We have involved protocols on the hardware layer.
MQTT, HTTP, XML and even CoAP for that matter,
which you can just plug and play
and the IoT sensors will work at the first go.
Alright.
Start by explaining what your questions mean.
- We're sitting quietly. - Sorry.
We don't understand the question, let alone the answer!
[comical music playing]
Let me say this in simplified terms.
- You get data from what exists for the standard format. - Yes.
- You have a standard protocol in place to consume data. - Exactly.
- On the basis of that, you feed the data into the database. - Yes.
Now, you can show going forward.
- That's all you've done. - Yes.
- There's no innovation as such. - It's layer one.
- Any IoT dashboard company does it. - Correct.
- Exactly. Any company would do this. - Exactly.
- Next. - The second step is
what we are doing in terms of 3D with this network and data.
In this layer, 3D and your IoT data..
We call it ETL, extract, transform, and load.
- I know ETL. - Okay.
The ETL pipeline is given to you in a no-code manner.
These are standard protocols.
I don't see any innovation here.
- This is a ready, open-source platform. - Yes.
Sir, we have added innovations in the WebGL layer.
WebGL is only lighter images.
- You're going in too deep. - It's needed because
I will invest only if I see innovation in the platform.
If there's no intellectual property, then I won't.
Whatever he said so far is readily available.
You don't see any innovation so far then.
I couldn't find it.
Are you trying to show off?
- Why would I show off? - Because...
I am aware of the terms he mentioned.
- I'm not asking him questions. - No, we know them too.
But let him explain technically and conceptually.
- Hmm. - What line went in what code
- is a long conversation. - I'm not asking that.
- Am I asking that? - Conceptually.
Am I asking that?
[intense music playing]
May I ask you a few questions?
- Non-technical. - Yes.
- A lot of people had ventured into this industry. - Hmm.
Why do you consider your platform superior?
- Ultimately what will happen is... - Hmm.
How many platforms exist in gaming globally?
- Two or three, right? - Hmm.
Ultimately, I believe,
that if you look at this industry in terms of platforms,
then globally, there will be two or three companies.
- You will need Google and Facebook to run it. - Yes.
- All the global tech giants. - Yes.
What are you doing,
be it in your approach or your technology,
that'll help you establish a global-scale tech platform?
- You rightly mentioned the competitors. - Yes.
They are Microsoft and NVIDIA...
- Right. - Who will most likely lead this race and emerge winners.
My approach right now is to first understand
what it is in their solution they are unable to address.
If you look at all the Fortune 500 companies,
they will go to Microsoft and NVIDIA
when it comes to metaverse and enterprise network.
But the remaining SMEs,
who make ¤10 million to 100 million annually,
are unable to afford Microsoft and NVIDIA's solutions.
I'm not targeting these Fortune 500 players,
but the SMEs.
- Even MSMEs can afford you! - Exactly, right?
- That's huge in India. - All these people...
There's a hype surrounding 3D.
You ask anyone if they want 3D, the reply is, "Obviously. Why not?"
If you say you can provide it
at one-hundredth the cost of Microsoft and NVIDIA,
that person will go crazy.
will go up to 1 million to 2 million dollars for any factory.
Let's talk about car dealerships which are his forte.
When we see a car on the internet,
- we can't feel it or touch it. - Exactly!
Right? All the car dealers don't want
- to create a digital 3D twin of their company. - That's right.
- Yes! - But still, many people are doing it.
I don't understand how you will compete with them.
I want to simplify this product to the extent
that a no-code framework works like a PowerPoint presentation tool.
- Alright. - And that is what my road map is.
Please share your sales figures with us.
Since our launch in January 2021,
So for the past three months, our revenue is around 25%.
Why aren't you making sales?
We are definitely selling.
A sale of Rs. 1.5 crores in one and a half year
is not impressive sales, right?
I do understand that.
As during the first year, we only focused on the Indian market.
I realised that it was a mistake
because if we had focused our energies on foreign countries,
we would have easily targeted European clients.
What is your sales cycle?
My sales cycle is broken down into six steps which can take
- up to two months. - How much time does your sales cycle require?
because I used all the money to build up my team.
And that is the reason I'm trying to raise funds now.
So you didn't raise funds until now.
Ma'am, I raised a seed round in May 2020.
How much was it? And who funded you?
It was Rs. 71 lakhs
As far as I understand,
you need two things to succeed, I guess.
One is the international B2B market
because MSMEs won't pay so much money in India.
- They try to get a license somehow. - Yes.
But internationally, people pay money.
Secondly,
staying abreast with technology updates constantly.
I think I won't be able to help you in both of these fields.
For that reason, I'm out.
- Best of luck! - Thank you!
I liked you and the fact that you are young.
You even filed a patent at such a young age.
I'm a technology-oriented person but we were tight on time.
I didn't understand your innovation.
[adventurous music]
Secondly, I don't understand
if you are providing software or you're giving a licensed service.
It's not something that can be easily downloaded.
- I want to be out for today. - Sure!
I want to give you some feedback.
If you have knowledge of metaverse currently,
please train a group of people
in consumer metaverse too.
There are huge opportunities in that field.
[suspenseful music]
Please don't forget about the consumer metaverse.
I'm out for now.
Anupam and I would like to give you an offer.
Hmm!
Ooh!
But...
There are two conditions.
Number one,
I have a strong technology team with 60 people.
- They will do proper due diligence. - Alright!
My second condition
is that we will also evaluate the use case.
So our offer is
Rs. 40 lakhs for 5% equity.
which is Rs. 12.18 crores.
So if you want to give me a counteroffer,
I can't go below Rs. 12.18 crores
It isn't raised yet, right?
- 3.2%. - Is it 3.2%?
So my counteroffer to you is Rs. 40 lakhs for 3% equity.
[dramatic music]
It can't be 3%. We'll calculate it first.
Let's do it.
So the deal we are giving you
is a Rs. 12.18 crore valuation
which approximately comes to Rs. 40 lakhs for 3% equity.
- 3.2%! - 3.2% equity, to be precise.
- I'm okay with that. - Done?
- Very nice! - Here you are, brother!
Thank you!
[triumphant music]
[sweeping music]
'Amit, Waseed from Indore has a question for you.'
'I have a startup and I want to grow it.'
'Will I have to move to big cities'
'like Mumbai and Bengaluru?'
I'm a live example of this.
We started our company in Jaipur.