[suspenseful music playing]
[intriguing music plays]
[water bubbling]
[tense music plays]
[gas hissing]
[thrilling music playing]
Welcome to Delhi!
[dramatic music playing]
Sharks, we need such gas masks
when the air is toxic.
Sharks, around 3-4 crore tonnes of paddy straw waste is burnt
'Dharaksha Ecosolutions'
Dharaksha is a biotech-driven R&D company
Thermocol is a petroleum-driven product
which takes 2,000 years to degrade.
Thermocol is a bigger problem than plastic
because its ability to be recycled is less than 2%.
Sharks, our vision
is to create a sustainable future
where everyone gets clean air and water.
We want your 100 hours to help our business grow.
Do you want just Rs. 1,250?
Or do you want Rs. 1,250 plus 100 hours?
- Plus 100 hours. - You didn't mention it in your ask.
We want your 100 hours against 1% equity.
Engineering was my first love.
I pursued mechanical engineering between 2010 and 2014.
We were roommates while we were pursuing our bachelor's degree
I pursued a course in Design of machine elements.
I had a realisation and a clear vision to recreate clean blue skies.
All of you are well-travelled.
When you go to Europe or the US, the world appears to be in HD.
The colours appear bright.
It's not the same in Delhi or any other big city.
I felt that access to clean air should be democratised.
It's not fair that the West has clean air but we don't.
It's a nice thinking.
I started researching the reasons for pollution.
During my research, I chanced upon crop stubble waste burning.
Two crore tonnes get burned every year.
It's a bigger fire than the one in the Amazon rainforest.
Delhi turns into a gas chamber.
and started researching.
Anand's background...
I hail from Jaipur.
My dad teaches us a lot of things.
Well done.
I wanted to do some business.
I always had that interest.
However, I joined the bandwagon and pursued engineering.
By the 3rd or 4th semester, I felt I didn't want to do engineering.
Then I pursued psychology
because I wanted to learn decision-making.
Amazing!
If I could influence you for a good cause,
there can't be anything better than that.
Then I joined PumPumPum Cars.
Who are they?
Anupam Cars.
It means we can call you Pumpum.
My friends call me Pumpum. I can't help it.
- "Pumpum!" - [laughing]
This is new learning.
It's a car leasing company.
- Pum... - [laughing]
I was doing good when Arpit reached out to me.
I think Arpit is problematic.
He compelled Anand to drop out of college.
[laughing]
Then he incited him to leave his job.
Actually, it happened.
When he decided to drop out, his parents came over
- and tried to find the roommate who incited him. - Here's the truth!
Who is that man?
They had already questioned our friends by then.
It was a serious situation.
I was late. They said, "Anand wants to drop out." I said, "let him."
[laughing]
- How old are you two? - 31 years old.
You two are stoic about it.
How did you develop this attitude?
How could you be so different?
How come you two are clear about your goal?
Let me give you a few examples.
As a child, I was fond of playing football.
I didn't play well though.
However, I enjoyed it.
I'm the same.
I developed an allergy by the 12th grade.
If I ran, I developed skin irritation
- which was connected to air pollution. - Oh!
The doctor said, "stop playing."
I found it bizarre.
My studies or my parents weren't a hindrance but the air was.
I felt that a person's choice
shouldn't be affected by the environment.
This was one of the triggers.
I travelled a lot while pursuing engineering.
I developed a machine during my college
which could run in agricultural fields.
It could reduce the consumption of fertilisers by 40%
and increase the yield by 25%.
I went to Tier 2, Tier 3, and Tier 4 locations
for the trial of such projects.
Until then I used to think, "I study in a Tier 2 college."
I didn't value my college.
The one affiliated to GGSIPU.
But when I went to those locations, I realised that the local people
couldn't even afford the form of my college.
Hmm.
That's how I began realising
that I was lucky enough to get these facilities
even though I hadn't made enough effort.
Your journey started with gratitude.
- Yes. - It's a profound realisation.
Most of the people don't feel grateful even in a lifetime.
Somehow it's inborn for you. Well done!
On that note, please explain your business in detail.
Sharks, would any one of you like to come here?
[ethereal music playing]
Suppose we grow rice paddy in a field.
- Yes - We harvested the rice grains.
- Right. - The leftover plant is the waste.
- That's paddy stubble waste. - Yes.
- Okay? - This is the same thing.
- That's right. - Okay.
The farmers burn this. It gets transported to us.
It's a bag having grown roots.
Let me break it.
You can see it's full of mycelium.
You may check the texture.
- This is how we fill a mould. - I got it.
Once it's baked, it becomes dead.
Yes.
Is it more expensive?
It's surely expensive. That's the reason I need your 100 hours.
How expensive? Twice, thrice, four times...
- It's twice or thrice currently. - Twice or thrice.
The materials used to make boxes currently, are sustainable, right?
Currently, you have just two alternatives.
Suppose a big company like yours... You want to pack boAt products.
- [chuckling] - How will you do it?
You must cushion the box.
Otherwise, the product could break during transit.
As of now,
there are only two alternatives to thermocol for cushioning.
One option is moulded pulp.
They are like egg trays.
Yes. That's right.
As it's not moisture-proof, we face challenges in export.
- It stinks. - You are right.
We need more thickness of moulded pulp
and it increases the box size.
We can reduce the box size by up to 15%-20%.
[tense music plays]
Aren't 100 hours equivalent to Rs. 1 crore for a Shark?
- Oh! - Oh, well said!
Not bad, bro!
We raised our first round of Rs. 4 crores
Which would ideally be at Rs. 100 crores valuation.
Let me explain.
- Majorly salaries. - Salaries.
How much do you spend on salaries per month?
Rs. 12-Rs. 14 lakhs.
I don't understand something. Why do you need our time?
What will you achieve?
- I'll tell you... - "What will you get?"
[laughing]
Not in that way!
- I mean our hours... - What's going on?
You mean you want to get hold of our customers.
Plus we want to crack the entire industry.
You have a condition that their company should use your packaging.
- That is... - It is taken for granted.
- [laughing] - That's understandable.
Will you close the deal at 20 hours for 1% equity?
Only if all of you join at 20 hours each.
[tense music plays]
I don't understand what kind of help you need.
There are three things.
What industry consumes the maximum thermocol?
- No, they want to use it. - We have a pilot run with them.
Honestly, I'll use it as an option
but only if the cost is logical.
If it isn't, I won't use it.
- When we match the cost of moulded pulp. - Correct!
- Our EBITDA would be... - 40%.
This is how we collect.
It collects like this and turns into a bale like this one.
Do you want Rs. 2 crores to buy this?
No! We need Rs. 2 crores to buy the mould-filling machine.
Where will you buy it from?
This machine will be developed. It's called Special Purpose Machine.
Being an engineer, my core expertise is in developing such machines.
Um, the design, development and trials are over.
Payment and commissioning remain.
- I'm interested but I have a few questions. - All right, sir.
Absolutely.
Then why do you think that your path
will lead to success and not the other paths?
Very well said.
You gave a general statement.
If you observe how badly they want it,
we will fall behind.
That's how badly they want it.
[dramatic music playing]
I don't have a deep understanding of all your questions
but that's why I'm here.
If you really want to be a biotech R&D material science company,
why are you selling packaging material?
At some point, you could hire distributors for this business.
Why are you getting into this?
We can't get distributors now as it's a new material.
A proof point.
We need to show basic proof
and build a company as big as Rs. 10-Rs. 100 crores.
It's not yet clear in your pitch.
Our conversations
have been about the sales of the product and the machines you'll use.
Anupam, you're absolutely right. I didn't share my entire vision.
Are your investors okay with you giving the Sharks
an advisory equity of 1%?
We explained our needs to them and how to address them.
So they allowed you?
However, you could have also asked for money.
- Yes. - You could've asked for Rs. 2 crores instead of taking a debt.
In the last two seasons, the mode of the deal
was between Rs. 10-Rs. 30 crores.
My last round was at a Rs. 22 crore valuation.
So I felt if I asked the same valuation now,
your time would be wasted.
[clapping]
What a bright guy!
- Amazing! - You are awesome!
Please take it. How will I write hours on it?
[laughing]
My point of view differs.
I don't think it's a big deal.
You are stuck with a valuation of Rs. 100 crores.
Yes, that is problematic.
That is not true.
You could have asked for Rs. 2 crores for approximately 10%.
It would have been less than the previous round.
What's the problem with that?
You said that Rs. 100 crores is our target.
You were contemplating how to
- secure a deal with a Shark. - No!
The deal is aired,
and your marketing is taken care of.
Let's be clear.
I am not someone who beats around the bush.
Sure.
That is why you have come to this pitch.
I can give you a counteroffer, Mr. Anupam.
If there's another round,
I'll give you equity at a 20% discount.
Oh!
If you invest Rs. 50 lakhs,
- I will give you Rs. 1 crore. - Done!
- Close it! - Either Rs. 1 crore or 20% discount.
- Done! Confirm deal? - Done!
- Excuse me! - He finalised the deal.
- It is almost done. Let's listen to their offer. - Come on!
- I will be out! - Let us... No!
Listen!
All five of us should invest together and put in 20 hours each
for the same price.
I am not okay with this deal.
Because 20 hours for 0.25%...
There are two options. It will either be a zero or a hero.
- If it is zero... - I thought 20 hours for 5%.
- All of us for 5%. - No! He is saying 0.2%...
0.25%.
There is one more way. Let me try to propose a deal.
All five Sharks
will give you 10 hours in total
in the next three months.
That is 2 hours each.
If all the claims you made today are true,
your debt is raised,
and you are on the right path,
then the remaining 80 hours will also belong to you
Just debt and LOI.
- LOI! - Done!
Your confidence is impressive.
[music rises]
- Deal done? - The deal is done.
Sir, you can come to our factory and check.
- We will! - All of you should come.
It is in Faridabad.
- Congratulations! - Thank you so much.
- Sure? - Sure, sir.
[music rises]
[theme music playing]
Look at Mr. Sharma's son.
He completed MBBS and transformed his life.
Complete engineering
- and then decide what you want to do in life. - True.
I'm certain that at some point in your life,
you've received such career advice
from a relative
or someone connected to your neighbour.
From your teacher as well.
[laughing]
In India, whenever students
are confused about their career,
then the people around them become expert career counsellors.
Sadly, Sharks,
93% of schools in India
iDreamCareer is a platform that provides career counselling
But iDreamCareer has successfully provided
career guidance in government schools,
tribal schools, and numerous private schools in recent years.
We have provided
in the next 10 years,
helping them choose careers
that bring them job satisfaction.
You never know, one of them could become a Shark.
So, Sharks, our ask is Rs. 1.10 crores
Rs. 85 crores.
Welcome to Shark Tank, Ayush and Squadron Leader Praveen.
- Thank you so much. - Thank you.
This problem exists.
Let me explain.
My dad decided
that their child should do CA.
Back then, you didn't know what you wanted in life.
When you take up the course, you realise
that this is not our calling.
I am a CA, but my calling was sales and marketing.
I took that path.
True. And...
This issue is faced primarily
- by students in government schools. - True.
I was pursuing my undergraduate studies in Bengaluru.
A lunch box delivery boy used to come to our house.
He was from Balasore in Odisha.
He was 19 years old.
When I was headed to college,
I noticed that he was trying to read an English newspaper.
I knew that he couldn't read English.
When I probed him,
I realised that he dropped out of 9th grade.
I asked him what he wanted to do in life.
He mentioned that he wants to do something in life,
but he doesn't know what.
I was hoping to find a platform or career counsellors
on my way back from college
who could guide him about his future.
But that is when I realised
that there is no such platform.
This happened in 2006 -2007.
I conducted research and discovered
that he is eligible to enrol in NIOS.
Good!
I enrolled him in NIOS.
And I left after completing graduation.
I met him again in 2015 in Bengaluru.
- And! - What is his name?
- Kamalkant Jaina. - Okay.
And I realised that he works for a multinational company
- and earns Rs. 60,000. - Lovely!
- Rs. 60,000? - Yes!
- Wow! - His younger brother was working as a sales executive
in a Maruti Suzuki showroom. It wasn't just him
who got guidance. But he guided others too.
I wanted to open an organisation that combines profit and purpose.
I made it a mission in my life
to solve this problem on a large scale
and help as many students as possible.
Enrolling Mr. Jaina in a school transformed his life.
Your recommendation focuses mainly
on 12th grade to university.
Your focus is on which student?
We tried to develop a hybrid model of social enterprise
Among them, could you specify how many are enrolled in the B2B program
and how many are in the B2C program?
or was finding open school the biggest challenge?
Both! Take Ruchi, for example. You can see her photo here.
Her parents follow a conventional route.
We started guiding her in the 9th grade
and helped her choose a career. She is currently pursuing B.Com.
We helped her get a scholarship of Rs. 15 lakhs.
I am looking at Ritesh, who comes from Odisha.
He has enrolled in Science PCM in 11th grade.
How do you know?
Did you really choose Science PCM?
Yes! Were you guessing?
Odisha is close because of Kamalkant.
So, I always prefer that.
However, you were uncertain about
what other career paths you could pursue with Science PCM.
He looked up information on Google
and came across our article, prompting him to visit our website.
He opts for a free sign-up.
And then
we asked all the questions to him as part of the onboarding process.
Which class he is in? What stream he is in?
Which subjects does he like?
And it will give them a personalised career dashboard.
Ritesh was interested in design and creativity.
So, he looked up design.
And he finds out that there are so many career options.
He clicks on 'product designer'
to learn more about his career aspect.
After that,
Ritesh wanted to know
which colleges teach design.
where he sees that
there is a program for Rs. 4,000
He enrols in this program
and then he immediately
starts taking the psychometric test.
We assess a child's aptitude, personality and interest
or 'psychometric test' online,
you will find a wide range of free tests.
There are numerous such tests.
At this age, children
are self-motivated. They carry out research on their own.
How do they come to you?
I've never heard of iDreamCareer.
I am only talking about D2C.
You will do B2B by partnering with schools.
In B2C,
90% of traffic, that is around 5 lakh children visit our website.
- Per month? - Per month.
Complete the funnel.
You said your visitors are around 5 lakhs per month.
- Yes. - Out of them, how many purchase
the course worth Rs. 299?
And apart from that course, how many of them
purchase the Rs. 4000 course? What is the conversion of that?
that worked in this field. There was an economic bubble.
EdTechs came, but most of them couldn't survive.
'turned into a crematorium.' Right?
Back then, we secured funding with an impact venture capital firm.
Tell us about funding.
- We have raised around 5 rounds of funding. - Wow!
We've raised Rs. 13.5 crores.
with just B2B?
B2B has always been profitable.
This year,
our B2B sales have grown from Rs. 93 lakhs to Rs. 2.5 crores.
This year, we are closing at Rs. 7 crores.
What's causing your focus to shift towards B2C?
Are investors pushing for B2C growth?
No! Not at all.
Pressure is being put on by investors.
I believe 60% to 70% has been diluted.
is more of CSR than EdTech.
You already have an impact investor.
There are many organisations you must have heard about.
I am also associated with them.
Have you heard about Udayan Care?
We work with them.
The girls there with Shalini fellowship
are not only provided educational support
but also have a mentor assigned to them for many years.
Such career guidance
- is invaluable. - True.
One session is just not enough.
And I think that's the correct approach.
Therefore, I am out. Good luck!
I will give you an offer.
I believe that is a problem we face.
Young adults who visit our office...
10% user base is professionals.
- Exactly! - But we have to refuse them.
Why are you refusing them?
We haven't delivered a clear program or outcome on that.
You should! I am letting you know.
Those who join us as interns,
we put them in every division.
To decide what they like and get exposure.
And then, you can go wherever you want.
After having experience for around 5 years,
people try to change their careers.
So, you have a big opportunity.
You can provide career guidance
to young professionals up to the age of 30.
I will give you a simple offer.
Rs. 15 lakhs in equity.
Because I am interested in joining you.
At Rs. 50 crores valuation.
And Rs. 95 lakhs debt
at 10% interest rate for 2 years.
That was the problem,
but you didn't go deep into the solution.
You are distracted now.
A company called Haqdarshak came on the show.
They had a very similar purpose.
The problem was big,
but they figured out a solution to the problem
with the same TG and made it sustainable.
They're in business.
I do think there is a solution to this problem.
The solution is not going to be with this 40 and 60%.
You need to make it sustainable right where it is.
I think you need to decide what you want from life.
Otherwise, a few years later, you may repent
that you're not doing what you set out to do.
So, I am out for now.
Just as you are providing career counselling to the world,
you are also in need of counselling.
Heavy counselling, which may last a few hours,
but at the end of it you should decide,
this or that.
I 100% agree with Peyush.
Right now, I think
your future is quite confusing.
You mentioned
you raised funds in a bad market as EdTech.
You said you're not playing that game but you are.
You went from a valuation of Rs. 36 crores to 86 crores.
I think I am out right now. Best of luck.
If you invest in an education business,
purpose and profit can go together.
Let me clarify
that you mentioned your B2C business is loss-making.
Your B2B business has been profitable since day one
and will continue to be profitable.
I really liked that business of yours.
I have implicit faith in India's future.
The way the nation is progressing,
counselling will become mandatory in schools very soon
in my opinion.
For that reason, I wish to make you an offer.
I will invest the complete Rs. 1.1 crores.
This will be split into two.
Rs. 60 lakhs in equity at a valuation of Rs. 60 crores.
I will take 1% equity.
Along with that,
I will give you Rs. 50 lakhs in debt
You shouldn't have, but fine.
I could add Rs. 15 lakhs.
- How much are you giving? - Let's do it together.
Add my 15 lakhs and please revise the offer.
- In equity? - Yes.
All right.
Aman will invest Rs. 15 lakhs and I'll invest Rs. 45 lakhs.
We will together get 1% ownership.
I will give you Rs. 50 lakhs in debt
If you look at young professionals,
I notice a lot of stress in them during their interviews.
I prefer you work on that too.
Can I say something?
When you don't have a point of view, everybody around you has a view.
So, form a view soon.
They're saying the opposite.
[laughs]
Unbelievable!
- Have you heard... Do you eat grapes - Yes.
Have you heard of sour grapes? Yes?
- What's your decision? - Good offer. Decide quickly.
[suspenseful music playing]
We accept your offer, Aman and Ritesh.
[joyous music playing]
[camera shutter clicking]
[music concludes]
Hello and welcome to your favourite and my favourite Ask The Shark.
Joining us today
is the CEO and Founder of OYO Rooms, Mr. Ritesh Agarwal.
Welcome, sir.
Today's question is by Anisha Shastri from Neemuch.
'Hi, Ritesh.'
This is what I do daily.
Every morning at 8, today included,
I log in to Twitter, Instagram and other sites
and go through every single feedback received for OYO the day before
whether it is from India or abroad.
- You do! - I do it personally every day.
- Isn't there a team? - There sure is.
I see.
I parallelly do it with the team.
I feel that
when the feedback is collated, it comes in buckets.
- Thank you so much for joining us. - Thank you.