Hello!
Do you see it?
I've been given a great suit for the finale week of
Shark Tank India, Season 2.
Co-presented by ACKO. Payments partner, Cashfree payments.
Ideas partner, Smallcase. Co-powered by PokerBaazi.
Money partner, Fi Money. Online food partner, Eatfit.
Eyewear partner, Lenskart.
The show's final week is here.
But pitchers, investments, businesses,
questions and answers have a lot of twists to unravel.
Let's watch ahead.
Shark Tank India
is in its final week.
And there are going to be
not only brilliant entrepreneurs
but also all our favourite Sharks.
Welcome to the finale of Season 2, Shark Tank India.
Patients with paralysis, Parkinson's,
for them Sahayatha
will make their defecation process much easier, healthier,
hygienic and dignified.
Very smart thinking.
As an actor, I always dreamt of
draping sari in a snow-clad location and sway my long hair.
But my hair never grew so long.
- So, I made a hair topper. - Oh, my God!
- Wow! - No way.
Wow!
No!
Whether you use a paper or a bottle,
unless you wash it with this, you're not satisfied.
Modest Fashion doesn't cater to any community.
Modest Fashion can be worn by anyone.
Your ask is Rs. 1 crore for 10% equity.
I won't negotiate. Let's do 1 crore for 10%.
Is it a deal?
Woah!
It's a deal.
Who wants to join us
and build
Sugar, the favourite beauty brand of young India?
[music playing]
Hi, Sharks. Life is magical.
Every challenge is a chance to prove something.
At the age of 15
with 300 rupees in my hand, I left my home
and there was only darkness all around.
[music playing]
Neither did I know where to go nor what to do.
But life took me to a beauty pageant.
[music playing]
There I learnt
that a piece of jewellery
enhances your look.
When I researched more,
I realised that in India,
jewellery is sold in a scattered fashion.
On one hand, there's the high-end, luxury,
designer or gold jewellery.
that will have high-quality and high designs
And that's how Rubans accessories started.
[music playing]
Today, we are India's
fastest-growing jewellery brand.
Hi, everyone! I'm Chinu Kala, founder of Rubans accessories.
Rubans was started in 2014
have served more than 25 lakh customers.
- Wow! - Wow.
Sharks, our vision
is to make Rubans, India's biggest fashion jewellery brand.
[music playing]
So, our ask is
I think we met once at an event in Bengaluru, right?
[music playing]
Yeah.
You were also there.
Yeah. I was there and
Chinu's story, she fought with her dad,
left home and built her life.
I heard that story on Josh Talks.
And it influenced me.
So, it's serendipitous that
I've been inspired by your story for the 3rd or 4th time.
I had differences with my dad.
So, one day, my dad asked me to leave home.
And I picked up my bag which had a dress
and 300 rupees.
I left with it.
Why did you leave home?
Uh, my mom used to live in Saudi Arabia.
Okay.
And I used to live with my stepmom.
So, there were many issues at home.
One day, it grew so big that
my dad asked me to leave.
So, I accepted it and left.
I took a train from Nalasopara without a ticket
and reached the Central Railway Station.
And there
I lived at the railway station for two days.
- In Mumbai? - Yes.
Oh, my God!
I had 300 rupees.
And I remember buying vada pav
and when I paid him 5 rupees,
I began calculating
how many days I can feed myself with 300 rupees.
At that age, I realised
that I have to work to earn money.
I didn't have educational qualifications.
How will somebody hire me? I was confused.
Was your mom working in Saudi Arabia?
Yes.
She used to come to India for a month every year.
Weren't you in touch with her?
There was a phone far away at my neighbour's house.
She used to call me once a week.
I spoke to many people at the station
and a lady
told me about door-to-door sales.
And she also told me that I won't get a salary.
I can only earn commissions.
For every piece that you sell, you will earn a commission.
[music playing]
The first day when I lifted the bag and went
into a building and rang the first doorbell,
that lady opened the door
and saw the big, heavy bag
with phenyl, knife, and many other things.
She just slammed the door on my face.
[music playing]
She just asked me to leave.
And I was hungry for two days and life was very difficult.
I started crying.
I stood for 3 hours under the building and cried.
I didn't know how to proceed.
Where were you living?
I found out that there was a dormitory
and you have to pay 25 rupees per day.
And they will provide you a mattress and a water pot.
I shared the dormitory with 25 people.
[music playing]
While crying,
I realised that if I accept defeat now, I'll have to go back home.
That was not an option.
So, I decided to sell no matter what.
[music playing]
I got up crying
and rang so many doorbells.
I sold 3 pieces that day.
they assigned 3 girls under me.
So, I did this at the age of 16.
It started here and I continued doing this for a year.
Then I learnt that
there's a job opportunity in Surat.
At the Yellow Pages distributor's office.
I picked up a bag to get that job
- and went to Surat. - Crazy.
Now, I had progressed to selling from shop to shop.
Then, I became a customer care executive.
At Tata Indicom's franchisee.
And that's where I met Amit.
We got married.
Which year was this?
- We got married in 2004. - Okay.
Then, this is about 2002.
[music playing]
After getting married, I took a break
and did a beautician course.
So, I was running a salon at home.
After that, Bharat & Dorris is a famo makeup and hair training academy.
I decided to do a course to upgrade myself.
So, I came to Mumbai.
That's when I experienced some glamour in life.
Somebody told me that you're pretty
so why don't you participate in Mrs India?
That's when I learnt about it.
I submitted the form and got selected.
And that was a beautiful experience.
I was among the top ten.
[music playing]
That's where I learned the importance of jewellery.
That's how this journey started.
In 2014,
I decided to start my jewellery brand.
I put in so many years of learning
along with my love for fashion
I combined it to create Rubans accessories.
[music playing]
Did you get a chance to complete your education?
Never.
- When did you drop out? - In the 7th.
You learnt the biggest lesson.
The real, on-ground education.
[music playing]
So you can teach many other students a lot of things.
Thank you. I was invited to IIM Ahmedabad, 2 months ago.
- Wow. - I taught students
- life lessons there. - There you go.
[chuckles]
We learnt it from masters and you learnt it from situations.
- Wow! - Amazing!
What were you doing, Amit?
I was working for Star Sports and ESPN
from 2007 to 2011.
What were you doing?
- I used to manage distribution. - Okay.
And from 2011 to 2020,
- I worked for Viacom Network18. - Understood.
- Yes. - Okay.
Can we see what's unique about your products?
You will look like a star. Wear it and show me.
Wow.
I'd like you to try this. This is one of my favourites.
Oh, wow! This is amazing.
Oh my, God! I love it!
- These are like JLo earrings. - Yes.
What is its price?
This will be for Rs. 8,000.
- Do you manufacture it in India? - Yes.
Where exactly in India?
Our major hubs are the villages in Kolkata.
We have set-ups in Delhi and Mumbai.
The Rajasthan one is very big.
Are the design yours? Or they are readily available
and you choose them or curate them.
- Of course. - What is the price difference
if I buy similar items from local shops?
The ordinary items would be available in other shops too.
If somebody copied our designs,
our price would be 20% to 25% costlier.
I got it. Secondly, what is its market size?
How vast is the fashion jewellery industry?
As of last year, it was worth Rs. 26,000 crores.
And mostly, unorganised.
- 88% unorganised. - Wow!
The organised industry and brands have just a 12% share.
As far as know, the two main factors are design and pricing.
These are the only two factors.
What are you doing to build a brand? How will you make it a big brand?
I want to share a few figures.
We have a 30% repeat rate.
Customers like our brand and they like our designs.
We have the biggest opportunity in the D2C segment.
We are a bootstrapped company.
We have a small team
so we couldn't focus on that.
We have created a brand to a certain extent.
40% of the customers
search our company name to buy our products on Myntra.
Can you give us an estimate of the number of searches per day?
There are 38,000 searches and we get 18,000 orders.
- of Myntra for the last 3 years. - We are the best performers.
Please share your sales figures.
Our lifetime sales are for around Rs. 200 crores.
What is your net revenue this year?
This year, our net revenue will be
What's your percentage?
We'd rake in around Rs. 8 crores in the D2C segment this year.
When you say D2C, what do you mean exactly?
- The earnings from our website. - Our website.
Alright. So you launched it six months ago.
[sweeping music]
It's kind of vulnerable.
No. It has more to do with the customer's presence.
Actually, the ASPs of our products
Our ASP is Rs. 800.
What is the equity split between you two?
She signs the cheques for my salary currently.
[laughing]
It is Rs. 356.
You didn't raise funds till now.
No, we didn't.
- You two are the only team members, right? - Yes.
Who else do you have in the team?
At the higher level, just the two of us. No one else.
You don't lack funds
as your EBITDA is around 2 to 2.5 crore rupees.
You'd soon earn around 5 to 6 crore rupees.
Why didn't you invest in making a strong team?
Peyush, our journey from zero to one
has been accomplished
but the journey ahead is going to be different.
One of the reasons we came here
is to reduce the number of mistakes and even if it is just one mistake,
I think it's worth it.
I think if we want to improve the margins of this company,
we must increase the average order value.
Do you have a viewpoint
regarding increasing the order value
of Rs. 800?
We tried to address this issue
by fixing our ASP at Rs. 1,700 on our website.
Does it include more than one product or just one product?
No. Our average basket size is 1.1.
Got it. Secondly, I think your team
lacks in tech.
You need a cofounder to handle the marketing department.
Are you open to the idea of having a cofounder?
Their chemistry would be spoilt. As a team,
both of them have made the business a success.
Many big brands in D2C are built without a tech cofounder.
We don't want to have a cofounder.
We can build a good team without a cofounder.
Well done! Well said!
[dramatic music]
- So you aren't open to that. - No.
I think you have built a nice business.
But I want to be out for now.
The primary reason is that
I feel you're giving less importance to tech and digital marketing
and you don't want a cofounder. I think scaling up depends on it.
Though your product is good,
a pillar is missing and you aren't open to change.
So I want to be out today.
Chinu, I think you reflected true entrepreneurship for sure.
Because an entrepreneur is all about perseverance.
[sweeping music]
I think your business is at a stage
where a different journey starts.
You need to build a team structure
and take it forward.
And I think it requires a lot of time.
I want to be out today
but I wish you all the best.
Chinu, in the last 12 months
I recalled your story in my head multiple times.
When I face tough days, I remember
I never slept at train stations.
Nobody ever slammed the door shut in my face.
I never thought twice before buying a vada-pav.
I'm so lucky and privileged
and I should never complain about my problems.
Namita and I want to give you an offer.
Rs. 1 crore for 1% equity
We too did the same. We know what hunger is.
[suspenseful music]
But the way you struggled...
You studied at the University of Life.
but when you invest money for business growth, you'd need it.
So I don't think it's wise to take debt right now.
[sweeping music]
I want to join Namita and Vineeta's offer.
It's a dream team.
Rs. 1 crore for 1% equity
and convert the debt portion into the equity?
Let me clarify something on Shark Tank.
It's utter rubbish to think that debt is bad.
Rubbish!
Let this be clear that debt is cheaper than equity.
Not at this stage.
No, it's cheap at any stage.
At this stage, it's cheaper.
Anupam is wrong.
Amit, thank him!
[adventurous music]
Rather than countering, take the dream team and move ahead.
As far as inventory is concerned, debt is beneficial.
- Banks can also give you. - It's not given without manufacturing.
[adventurous music]
- I think we'll go with the dream team. - Okay. We'll close the deal.
- We should do a victory dance. - With Chinu!
Come on, Chinu! Let's show the victory dance.
[vocalising]
Chinu and Amit, congratulations on the deal.
I have to find out something.
We've observed that when entrepreneurs undergo struggles
their first response is to give up.
They back out.
Especially, the struggles of women entrepreneurs.
How do you wish to positively impact it?
I have a message for women entrepreneurs that
believe in yourself.
People won't take your seriously.
Because people feel that
we're pursuing a hobby.
Or maybe she's trying to kill time
but we have to demonstrate
and prove that it's not true.
So don't give up.
Just show up every day and do not give up.
ACKO welcomes this change.
We want you to leave a message
on the ACKO Change Makers Wall along with an autograph.
Like ACKO has revolutionised the insurance landscape
with zero commission and zero paperwork policy.
We hope that you continue inspiring people with your business.
Wishing you loads of success.
[ethereal music]
[dramatic music]
Sharks, parents nowadays
give mobile phones to their children even though they are too young.
One of the reasons to give mobile phones to children
is to help them study and do research.
According to a survey, a child uses a mobile phone
only 10% to 15% of the time for studies.
And for the remaining time, they are busy with social media apps
and messaging apps.
Parents become worried exactly at this point.
They think, "my child is just 12 to 13 years old and is still studying."
"What messages is he receiving on his phone?"
It's important to know that
because it has a flip side.
And there's a flip side to mobile phones too. The dark side.
[sweeping music]
But it's impossible
for us to hover around the children
to save them from the dark side.
[laughing] That's impossible.
Is it possible that the notifications of messages
on the child's accounts on Telegram, Instagram
and WhatsApp are sent
to parents too without a delay in real-time?
[motivational music]
Who messaged? What did they message?
Some people look flustered.
It's the only application
to do this and is available on the Google Play Store.
My vision is to make my application a benchmark in notification sharing.
So, Sharks, my ask is
with the app Same Notification.
- Thank you! - My friend, what are you doing?
You asked for a meagre amount.
You offered so much equity. I will make an offer to you right away.
It never happened on Shark Tank before. [laughing]
You may have whatever you want.
I have just one question. Are you married?
Yes. I had a love marriage.
- Oh! - For how many years you have been married?
It has been five years. I was in a five-year relationship before that.
It's good for children but the same logic
could also be used for others.
It can be used for everyone.
Marriages will be ruined.
We know it.
[chuckling]
What compelled you to launch this app?
I'm an automobile engineer.
Let me brief you about my professional life.
I started doing a job in 2013.
I worked as a certification executive.
We seized the cars of the owners who couldn't pay their car loans.
[guffawing]
Did you work in CarDekho?
[guffawing]
I joined CarDekho in 2019.
Wonderful! Amazing!
What do people say about him in CarDekho?
Sir, employees of CarDekho say
that he must conduct more webinars to give more knowledge.
He delivers a punch in the last in webinars.
- Hoo-ha! - The aggression... Yes!
- Bravo! - Please do it for us once.
- Timing! Timing is important. - I'll just do it.
- Did you watch the film 300? The Spartans come in the end. - Yes.
Let's do it together.
It's our company anthem.
After every town hall meeting, I do what I'm about to do. Let's do it.
[shouting]
- Hoo-ha! - Hoo-ha!
- That's what we do every single time. - Wow!
- Well done! - You are really something.
Your face looked like a warrior's.
So you used to do this. Good.
How long did you work in CarDekho?
- I... - Did you leave the job because they scream a lot?
No, sir. [chuckling]
I joined a job in 2013.
I had the urge
to work independently.
I spent Rs. 51,000
and opened a roadside food stall to sell momos.
Wow!
I opened one more outlet
of momos in 2019.
Currently, both of them are running
profitably and they are autonomous.
I joined CarDekho in 2019 as a business manager.
I had already entered the app world during that time.
The world of apps?
The world of apps. Earlier, I used to work in the automobile sector
so coding was a new thing for me.
Luckily or maybe it was destined,
I stumbled upon an app that had 10 million downloads.
It was a basic app.
I knew that it was profitable so I emailed the owner.
I wrote, "what is this all about?" He replied to me.
"You are an Indian and Indians are technology savvy.
Please make the app and I'll pay you."
I started making apps with him and I made 3 to 4 apps.
You did it after leaving CarDekho?
No, sir. I was doing it alongside my job.
- You did it while working for CarDekho. - Yes, sir!
- That's the right way. - I worked both in the mornings and evenings.
Did you know him when he worked in CarDekho?
I didn't know him but he must surely have attended my town hall meeting.
- And our company promotes entrepreneurship. - Very nice!
- I want to say something. I'm sorry. - Please go ahead.
Life Beyond Work
- is a program in which I got recognition on LinkedIn. - Correct.
'In-house App Wizard'
at CarDekho. I felt nice as I got recognition.
- Good job! - Well done!
- When did you leave CarDekho? - When?
Ten days ago.
- Oh! - Just ten days ago!
Did you know I'm one of the Sharks in Shark Tank?
Sir, when I came to know,
I got scared as I'd have to face you.
How much salary did you draw at CarDekho?
Rs. 35,000.
How much do you earn from your momos stalls?
My net profit is Rs. 70,000.
- Wow! - What about the earnings through your app?
About Rs. 90,000 to Rs. 1 lakh.
- Wow! - That's amazing.
- He is highly enterprising. - I laud your prowess.
You are an enterprising man.
How do you earn money through these apps?
There are two ways, paid app and in-app ads.
Do you want to raise funds for the current company,
momos stalls, CarDekho or for all of them?
- Only for this app. - For this app?
- Yes! - Does your app breach privacy
or flouts any other legal rule?
When I published this app, Google took it down immediately.
[adventurous music]
They asked for two things in the privacy law.
You have to give consent
wherein you have to ask once on the app
stating that the notification is being sent from your phone.
Only if you give consent will the app work.
- What more? - Secondly, I will keep it.
- Why? - It will be easily replicated.
[music playing]
Give us a demo.
Let's understand it from the point of view of a parent and a child.
There are three options.
The first is to share your notification.
I can share my notifications with the partner device.
The other one is to get the partner's notification.
I can channelise the partner device's notifications to me.
And exchange notifications.
This will be useful for couples.
My notifications will be shared with my partner
and their notifications will come to me as well.
There will be a simple, six-digit code.
We have to add it to the parent's device and it will be paired.
Let's wait to find out how quickly
the notification reaches the parent.
Archana is saying that the exam is tomorrow, chapters 4-7.
The parent immediately found out.
[music playing]
Anjali is asking whether we should go out to have momos.
They're discussing bunking school.
The parent immediately finds out what's
- going on, on their child's device. - Great.
We also share a detail that
partner is sharing all notifications.
All the notifications from the partner device is being shared,
we clearly mention it.
Firstly, I appreciate you for your ambition.
But, in principle, I don't like such apps for two reasons.
It's an invasion of privacy
and privacy is very important to me.
Even if it's a child and parent relationship.
Secondly, I think this can be highly misused.
[music playing]
For these two reasons, I'm out.
[music playing]
So, you're not just a vampire, you're a super vampire, Ilesh.
This is a weird app.
To make such an intrusive app
I think it will be banned eventually.
I don't think you should be pursuing this.
[music playing]
But anyway, you're earning 8 times worth your salary
through your ventures.
So, you're a hustler and ambitious.
You will manage something. So, best of luck!
[music playing]
Ilesh, tell me something.
You made this app. If it doesn't work
then you will continue making new apps.
But what makes you happy?
Sometimes, you target something that makes you happy.
I feel happy
in having financial freedom.
I don't wish to be stuck with anything
and fear being in financial crisis, if it gets stuck.
So, I find my way out.
Unless your income becomes big, this is a concern.
Once you become big,
around 5-7 lakhs, then that is the thing
and I will take that ahead.
[music playing]
I want to say something.
Ilesh, you're an interesting man.
- It was amazing to meet you. - Yes, a pleasure.
This man will build a business.
You're struggling right now.
We had to go through it too.
We hustled with ten different things and something worked out.
Like you said, something worked out.
Once a thing grows to be 5-7 lakhs, we'll build that.
But to date, it didn't happen.
So, I'm out.
But I would like to say
that people like Ilesh
will teach India, the value of a business.
- Thank you. - Good luck!
Ilesh.
I love that you're entrepreneur material.
- You have the zest to accomplish. - Right. He has it in him.
I love this about the CarDekho group too.
We are encouraging entrepreneurship.
A lot have become entrepreneurs and raised their funds too.
They're all aggressive and I saw that aggression in you.
Yeah.
So, this is a small part.
Envision real parental needs.
What sort of controls or monitoring they require
for a healthy upbringing of their child.
This is a slightly hacking kind of product.
Bring it up to a platform.
It's not investible at this stage.
I want to be out today but
because you're connected with me through CarDekho
if you ever find an idea that's investible, I'll happily do it.
I feel that you have all the traits of a good entrepreneur.
And the idea is not investible.
[music playing]
But you are investible.
When you have an idea that's not legally controversial
then I'll invest in you. I'm out right now.
Offer him an R&D place in your factory.
[laughs]
As Peyush said, you're worth betting on as an entrepreneur.
But 50% of my bet is on the entrepreneur.
I reserve a part for the business potential.
There's that gap. Give me the last pitch
and I'll tell you whether I'm in or out.
[music playing]
Sir, I want to build something big.
But we can upscale a small thing.
And I see that small thing in this because
this route is empty as of now.
[music playing]
Sorry, Ilesh.
I badly wanted to
but as I always say,
the guy is great but I found him late. I want to say that
you're a great guy and I've met you early.
I want to accompany you on your journey.
Make something now.
Do something new.
- Okay, sir. - Unfortunately, I'm out now.
- No problem. - Sorry.
I will meet you all with a non-controversial app.
- Amazing! Very positive. - I'll tell you something.
Use frugal means to build a business but don't build a frugal business.
Your ideas are very short-term.
At least, think big.
And it's not necessary that you will return to CarDekho.
- Come to us too. - Of course. Listen.
You're doing well.
Do well!
[music playing]
Just keep on hustling.
- Yeah. - Thank you, sir.
- Okay. - Good job.
- All the best. - Bye, Ilesh. Good luck!
Do that hoo-ha!
- We will do it too. - Yes.
You're not a loser.
- Not at all. - Yes, come on.
One, two, three.
Two, one, go!
- Hoo! - Ha!
Alright. Keep rocking!
Thank you.
Such impactful businesses have been a part of Shark Tank
since the first episode.
They have impacted many lives.
Every time, I take them to the ACKO Change Makers Wall.
To encourage the pitchers and budding
entrepreneurs of Shark Tank,
ACKO's founder and CEO is coming to meet us.
Isn't it? Pan India!
- Are you following this season? - Yes.
Does this remind you of your days?
A lot.
How was it building a business back then versus now?
It has become easier.
We had no Sharks
to invest in two minutes.
We have toiled a lot. I'm in the insurance field.
It's a complicated business.
It took me time but their pitches
reminds me of how
we had made a pitch to convince the investors.
It's a complicated field
but we tried to unlock it.
How long did you take to get your first round of investment?
Two years.
It has been a great journey for ACKO.
Did any pitch make you want to invest in it too?
Two that I can remember. One was STAGE OTT.
The second one that I liked was Medulance.
- Yeah, those two boys. - Yeah.
I think it's such a noble cause and to run it
completely bootstrapped with profitability from day one
is super exciting. So, I think these two were
very exciting.
How important is it for disruptive businesses like ACKO
to come forward?
To set an example.
5-6 years ago, when we started
- insurance was sold in a way. - Yes.
- Claims were made a certain way. - Yes.
People used to be hassled.
It took us a long to change it.
These new businesses will create an impact
and change the consumers' life.
- for Indians to compete globally. - Right.
What's the story behind ACKO Change Makers?
I just want to understand.
We are in the insurance field.
We noticed that for 20-25 years, nothing changed.
And people are hassled.
It was important to change it.
But there is a certain set of people
or how do I say it?
- "That's the way it is!" - Hmm.
- Rigid mindset. - Yes, rigid and orthodox.
To change it, whether it's an insurance,
hair colour, or anything.
It's important to make those changes.
- This will take our society ahead. - Yeah.
So, welcoming this change
is ACKO's philosophy.
ACKO will also grow old.
But we must remember that we must change with time.
- And move on. - Right.
So, the entire philosophy behind welcoming change is
celebrating people who bring these changes.
Those who create this change.
And I think it's very important for us as a country
and as a nation to celebrate these people.
That's the philosophy behind welcoming this change.
Sir, we would like you to leave a small message
- on your ACKO Change Makers Wall. - Thank you so much.
Come on, sir.
We will change India.
Um, thank you, Varun.
Thank you for the inspiring message and for joining us
- on Shark Tank India. - Thank you so much, Rahul.
[music playing]
No!
Yuck!
Oh!
It's smelling.
God, Aman!
When we go abroad to study or on a tour,
we are so excited.
We pack everything important
but we can't take the most important thing.
Our favourite bathroom jet spray.
Yuck!
Totally, I can relate to it.
[laughs]
Whether you use a paper or a bottle
unless you wash it with this, you aren't satisfied.
- That's right. - Amit!
We're here with a solution for this problem.
With our innovation, Bottom Line Spray.
Hello, Sharks. I'm Aadil Attarwala.
And with our product,
you will get two reusable hooks.
Firstly, wherever you go,
near your pot, at the eye level or a bit higher than that
you have to stick the hook.
Then unroll the product
and you can fill water in it with a bottle or a tap.
Seriously.
Its capacity is 1.5 litres.
Wow!
It must be hanged.
Wow!
And this works with gravity.
You can switch it on.
- [laughs] - Now this is off.
I think Vineeta had a mishap with this.
Now you can experience India anywhere abroad.
Wow!
Thank you.
[music playing]
Namita, I'm just speechless.
Welcome to Shark Tank, Season 2.
[laughs]
Aadil, have you heard about flushable wipes?
Yes.
It's very common abroad.
- Yes. - Yes.
So, instead of making such a heavy equipment
why didn't you think of flushable wipes?
So, I want to share that
we are Indians. We love to travel
but we would like to remain in our comfort zone.
The ergonomics, just like our jet spray at home
it sprays water with pressure.
That's when we get our satisfaction.
Look, we are Gujaratis.
When we travel, we surely take Khakhra along.
[laughs]
Oh, my God!
These Sharks here
are rich so we travel a lot.
Let's ask them one by one.
Hotels have it these days.
Earlier, they didn't have it. But they do nowadays.
How would you manage earlier?
Toilet paper.
Namita, you lived there for 8 years. Let me know.
I'm not going to answer this question.
[music playing]
I've faced a problem.
And Aman?
And Peyush?
I travel frequently to Japan.
The satisfaction is next-level there.
[laughs]
What's the satisfaction about?
They have warm toilet seats.
[music playing]
And they have multiple jets
that spray from all four sides.
And two hands come up too. To wash and clean.
[music playing]
Anupam, what do you do?
I combine tissue paper and water bottle.
You copied us again.
[music playing]
- She's my fiance. - Oh, wow! Congratulations!
Let's get to the bottom line.
In the last three months, what were your monthly sales?
What's the price of each unit?
The MRP is 2000.
What were your sales?
A new semester begins in September in the US.
So, in August, students leave
so you find a peak in August.
- Is that right? - It's true.
After years, I wish like sharing a dialogue.
In this,
I have no expertise at all.
And for that reason, I'm out.
But I wish you the very best.
Thank you.
Finally, we got to hear this after an entire season.
I think you must have a bigger vision.
Include this problem
and 2-3 more problems to build a bigger business.
It's not required for you to raise investment.
If your sales are around 2 lakhs. Grow it to be 20.
Refine the product. Focus more on it.
As of now, it doesn't seem investible. So, I'm out.
Thank you, sir.
Guys, when did you start entrepreneurship?
2019.
So the target market is small.
Scalability is the issue for me. So, I'm out today.
But I'm surely going to be your customer.
Thank you so much.
When did you get engaged?
This year, in January.
When will you get married?
- Sometime next year. - End of this year or next year.
Where is the income?
Income, uh,
as of now, on our journey, we haven't mentioned but
- we were pursuing Masters. - Where?
I went to Politecnico di Milano in Milan.
- What about you? - I went to Brunel University, London
So, your families
- are well-off and can finance it. - Yes, we do.
Look, that's the point.
I was wondering why you worked on this solution.
When it's not working, the market shows
that there's no product-market fit.
Why are you still obsessing over it?
[music playing]
You might enjoy using it.
And you assume that the world will use it. It doesn't seem so.
You're too comfortable.
You're not in a hurry to get something.
So, I'm out too.
[music playing]
- Thank you. - Thank you so much.
Bye.
[music playing]
Greetings!
Sharks, you must know
that in Indian households
the relationship between a mother and daughter-in-law is so spicy.
[laughs]
I have a similar situation at home.
My wife is a child behavioural psychologist.
- And my mom is a school principal. - Oh my!
This is not the problem.
The problem is, what my 3.5-year-old son will eat.
[laughs]
My mom wants
us to feed him traditional parathe and semolina halwa.
And my wife wants
him to eat, convenient and healthy, corn flakes and milk.
Amidst this argument,
my son wants cold drinks and chocolates.
[laughs]
It's the story of every household.
To be an equal parent,
we, as dads, found the solution
that makes my wife and my mom happy.
And my son, the happiest.
We have brought
ethnic, traditional ingredients
like the African teff,
Indian turmeric,
gave rise to Lil' Goodness.
[music playing]
And we have become super dads.
Sharks, our ask is
And you're my mentee, right?
- Long time back from IIM. - Yeah, from IIM Indore.
- Yes, a long time back. - Oh my, God!
My God!
I'm not related to him.
[laughs]
So, Harsh and I studied together in school.
- Wow, good one! - Don Bosco School, Alaknanda, New De
We studied in the same class for almost 6 or 10 years.
We were in the same section for two years.
- Wow! - In the 9th, Peyush was a topper.
In the 10th, I beat him.
[laughs]
I will serve you two kinds of chocolates.
[music playing]
- This is the second option. - Okay.
[music playing]
You may open your blindfolds.
Tell us what was better in the first one.
The first one tasted like Amul's
- chocolate. - Hmm.
- And the second one felt milkier. - Yes.
- It was creamier. - The second one had more sugar content.
Our first option was chocolate.
Did anyone get a taste of turmeric in it?
Ah! No, we didn't feel it.
The first option was too good. I liked it.
The first option is our Lil' Goodness chocolate.
It has 35%
We added curcumin extracted from turmeric.
- We mixed it in an extract form. - Extract!
It hid the bitterness
in our chocolate format. It masked the bitterness.
[inspirational music]
We use 100% cocoa butter to make chocolates.
That has made a difference.
- We want to give samples of other products too. - Go on.
[thrilling music]
- It's delicious. - Yes?
- Very tasty. - It's very nice.
It contains 23% teff and 23% quinoa.
This product contains
50% less sugar as compared to our competitors.
- How does it matter? - It matters a lot.
[sweeping music]
A bar of chocolate is loaded with sugar
and it's disastrous for health.
If you reduce 35% sugar, it'd still be disastrous.
- They'd eat anyway. - Anyway, they'd eat chocolates.
I agree with him. Like this product contains maltodextrin.
It's debatable whether we should consume it or not.
It can't replace turmeric milk.
I'm not saying
that there is something wrong with their business.
Better-for-you is a food category.
You must clearly say, "it's better for you".
[dramatic music]
It's a better kind of junk food. That's what he means.
And you agree that they are better than chocolates, right?
They are better than chocolates. Definitely better.
India faces two challenges in establishing the healthy segment.
The first challenge is that Indians are taste-conscious.
- People won't eat if the food isn't tasty. - That's true.
The second challenge is that India is a price-sensitive market.
The price of the chocolate I gave you for comparison
is available for just Rs. 20.
People buy such products readily.
- Hold on! We'd get a chocolate of this size for Rs. 20. - Yes.
But the product you are comparing it with is bigger.
No. [sweeping music]
Are you comparing the same quantities?
Sir, we sell chocolates costing Rs. 20
as compared to Cadbury chocolates costing Rs. 10.
- It's double the price but you said it costs Rs. 20. - Right.
Are you doing this business for 5 years?
- No. - No.
We launched this brand in March 2020.
We went live on Amazon in May 2020.
- Please tell us the sales category-wise. - Please tell us.
Our sales are Rs. 1.45 crores per month currently.
Oh, that's nice. [sweeping music]
It's our monthly run rate.
- You mean net revenue. - Net run rate.
There has been 3 times growth in six months.
We have scaled up so well
that we reduced the manufacturing cost.
- Wonderful! - Wow!
- Overall, your gross margin is 67%. - It's around 66%.
We have a cash burn rate of Rs. 30 lakhs per month.
[adventurous music]
Please tell us the break up of Rs. 1.5 crores.
In your sale of Rs. 1.45 crores,
tell us the break up of the money spent on different activities.
The customer acquisition cost including discounts
was around Rs. 30 lakhs last month.
You tell us the net revenue after deducting discounts!
[adventurous music]
I get it. The net revenue after discounts is Rs. 1.27 crores.
So the real revenue is Rs. 1.27 crores. Please tell us the same.
I'm the CEO.
- I invested in the company. - How much?
Around Rs. 1 crore.
What is your role?
I manage the products, supply chain and operations.
That's alright. You said that you raised a round recently.
Yes. We are raising a round of Rs. 13.5 crores.
[dramatic music]
We already have commitments for Rs. 12 crores.
What valuation did you get?
The same valuation that we offered you.
So you got a valuation of Rs. 100 crores.
But then you are raising funds at almost
- 8 times your revenue. - I don't understand how he's getting it.
[dramatic music]
Don't you think that the dilution is too high?
You certainly made some mistakes to reach this stage.
[sweeping music]
Aman, there was a situation
during Covid when we borrowed money as we needed it.
We made the mistake of not negotiating.
- And... - And that led to a string of mistakes.
[adventurous music]
I have observed a trend of food companies
on Shark Tank India season 2.
Many companies have fantastic products
having a health angle
and are fundamentally good businesses.
All of them have a pattern
of high cash burn per month.
Secondly, a high founder's equity dilution.
Thirdly, the fundraiser we are about to join
has a high valuation.
So these businesses don't appear investible to me.
The valuation appears unrealistic given the cash burn.
Because you'd do more cash burn to scale up.
And for that reason, even though there is a health angle
and the product is tasty, I'd like to be out.
Thank you, Namita.
As you got funding too soon,
your attitude isn't frugal.
[tense music]
I don't have a conviction that you are working on it heavily
or you did some innovation so I was talking about digital marketing.
For these reasons, I'm out today.
This category is exciting.
Chocolates in India
are ripe for disruption.
But, my friend, you are letting go of such a good opportunity.
You are burning cash even in this scenario.
The way you are executing, you'll never be profitable.
[dramatic music]
People come to Shark Tank for a meagre amount of Rs. 10 lakhs.
Because they didn't get an opportunity.
They didn't get funding.
They don't have qualifications so they need mentorship.
But you got everything and you are squandering it away.
And for that reason, I'm out.
[dramatic music]
The stage you are at
in terms of your ownership
at your current valuation
and the impact of an investor
on decision-making after giving Rs. 1 crore is limited.
Thank you, Vineeta! [sweeping music]
Why did you come to Shark Tank?
You already have Rs. 12 crores.
Basically, we wanted to complete this round.
A round doesn't necessarily complete at Rs. 13.5 crores. 12 is good too.
[sweeping music]
Look! The more money we get,
we may spend on branding
and on focused channel efforts.
No! No.
You are still struggling
because you aren't solving the core problem.
If I invest in this deal today,
I'd do it
when you realise that there is a gap
and you need my help
to turn around this business.
I'm out of this deal.
I can't meddle with your valuation.
I could give you a fresh idea for a fresh business
and treat you two as fresh entrepreneurs to help you.
Now Peyush is there to help you so you don't need me. I'm out.
I think your revenue is around 12 to 15 crore rupees.
It doesn't cross a multiple of three in the market as of now
and you need help.
My offer is Rs. 50 lakhs for 1% equity.
Let's close at a 10% interest rate.
- Peyush... - It's a non-negotiable offer.
Sir...
- Thank you, Peyush! - Good job, guys!
- Come on! - Thanks!
- Superb! - Now we can't compete.
Please earn profit for me.
[laughing]
Good job!
Do you like the Sharks? You can become one too.
'Peyush, in today's Shark Xperience segment, '
'Satish from Tenali has a question.'
'Which path should an entrepreneur choose?'
'Growth or profitability? And why?'
I think growth and profitability are important for a business.
The most important thing is to check if you are creating