[thrilling music playing]
[theme music playing]
Sharks, far away from the city is a small village.
Mamta gave birth to a little one in that village.
The baby is named Khushi.
Although the child brought happiness,
the weight of this delicate child is just 1.2 kilos.
Contrarily, a healthy newborn's weight is between 2 to 3 kilos.
Due to this reason, Khushi's condition is serious.
Sharks, what do you think are the chances of Khushi's survival?
If she were in a big city,
the chances of her survival would be more.
However, the maximum Indian population
lives in small towns and villages
and the survival rate of such children is less than 50%.
Khushi is kept away from her mother
in the NICU for treatment.
There are 40 more sick newborns like her in that unit.
One nurse monitors all these newborns.
Sharks, this isn't just Khushi's story.
Every year in India, 80 lakh newborns
have a low birth weight, are premature
or have a disease at birth.
Nemocare Raksha is the world's first
clinical-grade, wearable device for newborn babies.
It can be attached to the baby's leg
Additionally, doctors all over the world
I was born in Pakistan
and I was overweight so I was kept in an incubator.
I have an issue with my neck because I was kept in an incubator.
The problem with an incubator is the parents can't see their babies
and the baby's safety is compromised in an incubator.
- Absolutely. - I suffered firsthand.
How did you develop a neck issue?
It became a lifelong issue.
You two are doing something laudable.
Even now, in tier 2 and tier 3 towns,
3-4 babies are kept inside a single incubator
- because we don't have enough incubators. - We don't have.
and tag it.
After it is tagged,
the baby is connected to the device.
This pouch contains a sock
and this sock is a simple strap-on device.
We put the device inside it.
The device is touching...
Yes, exactly. The internal light...
- I mean the probe is near the foot. - The foot.
It should stay relevant later on.
Exactly what I was getting to, sir.
We can discharge the babies early
because we shouldn't keep them in the NICU just for monitoring.
Now the baby can be taken to the mother
and the breastfeeding starts but the ICU-grade monitoring is still on.
The nursing staff see the dashboard like this.
They can see all the babies in one shot.
Your customer whose problems you are solving
is the NICU located in hospitals.
And especially those in tier 2 and tier 3 towns.
The Breach Candy Hospital in Mumbai
won't employ your technology.
Do they appreciate your accuracy?
Their labour cost is low and they can hire three nurses.
Ma'am, there are three segments right now.
You two hail from Bengaluru and Hyderabad.
What has your journey been like?
I was interested in product design
- 2016... - We began in 2016.
Six and a half years and one year was given to infield research.
All right.
It was 100,000 dollars.
No, sir.
Around Rs. 6 crores.
You received the commitment at a valuation of Rs. 40 crores.
- Rs. 40 crores. - Yes.
What is your revenue in the CSR, your largest segment?
You asked for a Rs. 40 crore valuation in just three years.
What is your path?
How much revenue are you projecting in three years?
What do you intend to do with Rs. 5 crores?
My concern is that you'd get funds at a valuation of Rs. 40 crores
and you accepted that it's going to be a long journey.
You don't have clarity about your revenue model.
In the absence of clarity,
you got grants and business from CSR because the cause is good.
Suppose I invest some money
but you are carrying the burden of valuation.
Where will it take you?
In that case, you must commit Rs. 60 crores... Not Rs. 60 crores.
It's not easy to commit to a sale of even Rs. 25 crores.
You didn't get a steady business of Rs. 1 crore in the last three years.
- They didn't even grow. - Yes. You didn't even grow.
The problem is you aren't growing.
You made a heavy commitment
and suddenly talked about the US.
You forgot about the 10 lakh children in India.
- What is the TOMS model? - What is it?
No. This model can't be copied in India.
- No, sir. Please hear me out. - I have tried it.
The customers buy one and give one in the US.
Forget about the TOMS model. They deal in shoes.
Please tell me about the TOMS model.
We aren't so poor.
- I don't mean that. - Our economy has developed.
We don't take freebies.
We can get money from any source.
Whoever is giving the money,
just take it. What's the problem?
That's exactly what we are trying to say.
If you take their money
and help people...
If you get money from abroad
and help people in India and fulfil your mission, what's the problem?
How much did you profit last year?
Sir, we broke even last year.
It was pretty much around that.
You have a loss of Rs. 10 lakhs per year.
Our loss was Rs. 15 lakhs
- I liked the fact that your intentions are good. - Thank you.
I feel your company is still pre-revenue.
I'm out because I don't invest in pre-revenue companies.
You need to scale up gradually
by getting commercial orientation and some sort of boost up.
But I wish you the best.
Thank you so much.
I think your business has some divergence.
On the one hand,
you have an opportunity to make an impact
and on the other hand, you want to get the approval of the US FDA
and work with the Fortune 5 companies.
The problem is if you focus only on the impact,
- your valuation won't increase. - Exactly.
And to focus on the approval from the FDA,
you are still at an early stage.
I don't want to make a half-hearted attempt.
I'm not convinced entirely
so I want to give you my best wishes to progress.
- Thank you, Ritesh. - Thank you.
I think your cause is good.
If we work with good partners...
- It can work. - I liked your model of Rs. 600 per pouch.
It can scale for real.
- Yes. - It can be delivered to homes, hospitals,
privileged people and also the underprivileged ones.
You built a great product.
I liked your revenue model. The subscription model
doesn't work in India typically.
You understood the problem and changed your pricing
to make it per-use.
Your hard work of 4-5 years
is apparent because you have fine-tuned it.
I don't think you'll get the valuation you are seeking here.
I'd like to match Peyush's valuation.
I offer you Rs. 50 lakhs for 5% equity
and Rs. 50 lakhs in debt
at an 8% interest for a three-year term.
Absolutely.
I can help you.
Take the grant as well as the money from the U.S.
and also take from me.
Rs. 20 lakhs for 1% equity at a valuation of Rs. 20 crores.
Aman, we have a counter-offer for you.
We want Rs. 20 lakhs at 0.67% of our company
Hi, I am Shweta Shivkumar.
I am the Co-founder of WhySoBlue.
[upbeat music playing]
I was never interested in entrepreneurship.
It was the circumstances that brought about this company.
It was all alien to me.
We started from our living room.
We made our first collection from the dining room.
'Mom and I put to use all the knowledge we had gained'
'in these 8 years.'
From 1 to 2 employees, we're now a team of 52.
With 52 employees, how do we get to 5,000 and 5 lakhs?
We need the guidance of the Sharks to understand this better.
We are Team WhySoBlue!
[theme music playing]
[theme music concludes]
Sharks, take a look at this dull and boring dress.
Doesn't looking at this make you want to ask,
"Why so sad? Why so blue?"
Wearing this would spoil anyone's mood!
We don't want these boring, mass-produced pieces!
[laughs]
We want fun and vibrant outfits that are made especially for you.
WhySoBlue is an apparel company
led to the conception of WhySoBlue.
We started this company from a corner of our living room.
Today, we take pride in saying
that we launched
and change the boring image of sustainable fashion,
because slow fashion can be fun too.
Shweta and Jaya,
- a warm welcome to Shark Tank. - Thank you.
Even though I am wearing blue...
WhySoBlue, Ritesh?
Exactly. I completely agree
because I am fond of fashionable and bold colours.
Very excited.
- Thank you so much. - Fashionable and bold colours!
Yes. Exciting colours such as the ones you're wearing.
Tell us your story. It seems quite fascinating.
You're family and have complementary skill sets.
You run a business together.
Tell us your story.
I used to have a corporate job, but I was not enjoying it.
After which I told Mom, "I am not enjoying my job."
She told me, "Quit your job."
"If you're not enjoying it, we'll figure something out."
When I quit,
it was with the mindset of doing something of my own.
I was done working for somebody else.
I wanted to build something of my own.
Mom's and mine shared passion since childhood
has been fabric, prints and designing.
I used to wear the clothes to college that she made
and people used to love it.
I thought, why not think along those lines?
I proposed to Mom to start a clothing brand
and that's how WhySoBlue was born.
Nice.
You used the term slow fashion and slow clothing.
In the past year, I tried many brands,
but it's correct.
- Fashion is a little boring. - Yes.
Why is it that
slow clothing brands have earned the reputation
of being so boring?
What does slow clothing mean?
Could you define slow clothing for my sake?
I don't know if everyone else knows what slow clothing is.
In India, fast fashion...
That changes quickly.
Yes. Collections that roll quicker are very rampant and cheap
- because they're mass-produced. In bulk. - Okay.
Slow fashion means that we make it meaningfully,
our sourcing is limited and we don't make it in bulk either.
We make it consciously to prevent wastage and dead stock.
It doesn't get trashed in the landfill.
and once it's done, we move on to the next one.
I'm really confused.
- You started with saying no more boring clothes. - Yes.
Only fashionable clothes.
Now, you're saying you want slow fashion and not fast fashion.
Absolutely correct.
We make slow fashion fun.
Which we thought was impossible.
So, tell us how.
When we say slow,
we mean we will provide you with variety in our collections.
However, they'll be consciously made only at our unit.
The block and screen printing is manually done by artisans.
Manual involvement is greater than that of machinery.
I find this discussion...
See. I came here and looked at your products.
For instance, your co-ord sets, loungewear...
- I wear this. - Yes.
I find slow fashion and fast fashion to be
a somewhat non-consumer-centric discussion.
I agree.
When a consumer or I buy this on Myntra or elsewhere,
I check what products the company makes,
what material it is and whether I like the design.
I think slow fashion and fast fashion
are just labels in the fashion industry.
In my opinion, the consumer does not think about this.
It's a distraction.
Okay.
Tell us about the products, please.
Is this really fashion?
I find this to be a nightdress.
Is it fashion?
Or maybe, I'm not able to relate to this fashion.
- I'll show you the samples. - Yes.
You can probably touch and feel.
Radhika, you see the trend in metros.
- I don't think... - Again, it's very niche,
- but... - Vineeta, do you like this as a fashion?
Aman, the concept is good, home loungewear.
This is loungewear, not fashion wear.
- This is for you. - Thank you. Thank you so much.
People do wear co-ords outside.
- What do I call what you wear at home? - I call it loungewear.
- Lounge wear. - There's a big trend of wearing loungewear outdoors.
This can't be worn outdoors. This is more homely.
No! People do step out wearing such co-ords nowadays.
Co-ords are worn outdoors,
but the question is, are such co-ords worn?
That is personal.
This is something I would definitely wear at home.
This is meant for wearing outdoors.
Not for wearing at home.
Whether you like the fashion or not is a different story.
Would this be fashion as per your fashion sense?
- Yes or no? - I wouldn't wear this.
I don't wear ethnic prints.
- This is pure material. What is it? - All cotton.
I have not observed this fashion in the office yet.
Co-ord is a big trend.
- Co-ord is a big trend. - Cotton co-ord?
- Co-ord is a big trend. - Even...
Even cotton...
Just... Can I finish?
- Co-ord is a big trend. - Yes.
Is cotton co-ord to wear outdoors a big trend,
because it crushes?
It crushes,
but if you compare polyester and cotton,
cotton does not irritate the skin for a majority of people.
You don't feel hot.
We live in a tropical climate.
This is actually made for our climate.
So, the comfort is way more.
What is your selling price?
I've bought this stuff online.
This is available for Rs. 1,000 to 2,000.
You might get it, but the point is that its fabric is not cotton.
Give us your unit economics.
Let's take Rs. 100 for example.
How? What is fuelling this?
Actually, in the last 2 to 3 years,
we had hired many performance marketing agencies.
They were handling it.
In February, we realised
that they didn't meet the potential we had in mind.
- So, I let them go. - Very good.
I think because we were selling it,
we had a better understanding of
what customers wanted to hear from us.
That one thing changed.
We were more hands-on in understanding what to push
and where the emphasis should lay,
which I believe they could not figure out.
Now that you'll make sales of Rs. 8 crores,
people will follow suit, right.
Even if they do,
what sets us apart is the design-print language.
These designs are not patented and can be copied.
Sabyasachi is being copied nowadays, then why wouldn't this be?
Do you get the point?
You are very right. Our designs are still being copied.
This is how we tackle it.
We launch our exclusive prints.
After 45 days, we launch a new collection.
If they wish to copy it,
they see the print and manage to replicate it.
There is a certain time taken for it to be replicated.
By then, we've launched the new collection
and customers have seen it.
If there are copycats,
we have moved on to newer things and fresher designs.
I think what sets you apart is your marketing.
As far as I know, India has had similar products.
India has reached a new phase now.
- There was a time when people didn't have websites. - Yes.
Today, every brand has a website,
- in the last few years. - Yes.
The next phase is Instagram marketing
which only a few people know, you being one of them.
And it's a very rare skill set.
In two years, everyone will be able to do it
just as everyone has a website now.
Wouldn't your moat gradually diminish then?
Instagram marketing is not a sustainable moat.
- It will not sustain... - I 100% disagree.
People will master it within a few years.
Disagree.
The story is very powerful and copying a story is not easy.
Where do you see the business in 2027?
Our plan is to touch Rs. 7.5 to 8 crores sales this year.
We plan on touching Rs. 20 crores next year
followed by 45 and 100 crores.
We have mapped it so far.
I am out because I don't get your fashion.
If I associate with you, I will keep changing your designs.
You won't be able to work with me.
So, for that reason, keep your life simple, I am out.
- Thank you. - Okay.
I have a few problems.
Firstly, I believe the price point of the block print co-ord
is really expensive.
The talent in this category will increase.
For this reason, I am out
because I don't believe this will scale.
Okay.
Shweta and Jaya,
you have two barriers to scale.
Firstly, the majority of the manufacturing process
is handwork.
As of now,
scale and investability seem to be the issue.
For that reason, I am out.
Okay.
I am out for now
purely because I think you need to keep doing trials.
This is not an investment stage for your business.
- Thank you. - Thank you.
Could you tell me
why you feel you could make a business of Rs. 100 crores?
Our current problem is simple.
We are marketing. As Peyush said, it is going fine.
We cannot meet the demand though.
Our turnaround time a month ago was 3 to 4 weeks.
If we put 3 to 4 weeks on the website...
The customers don't want to wait.
Our main issue is with production.
We are confident
that if we could streamline and expand our production,
we can definitely get where we want to be.
Look.
I'm in a dilemma.
Will there be a market for your current price point?
My belief is to have faith in the entrepreneur.
The market will get created over time.
So, I wish to make an offer.
Here's my offer.
I wish to invest Rs. 40 lakhs equity in your company
for 3% equity.
And Rs. 35 lakhs debt
which will help increase your production capacity.
and then utilise the debt,
- that will be your choice. - Okay.
- The credit line will be available to you. - Okay.
So, that's my offer.
Good offer.
I'm really excited about it.
- Well done. Look... - Thank you so much.
Thank you.
[joyous music playing]
[camera shutter clicking]
- Congratulations. - Thank you...
- Thank you so much, Sharks... - Thank you so much.
- Thank you. - Congratulations.
[music concludes]
[theme music playing]
We refer to ourselves
as James Bond of the deep sea.
[laughing]
Because we specialize in deploying
advanced underwater robots
to conduct inspections
and surveillance,
offering you access to high-end technical data.
As per Government regulations,
you need to inspect any structure such as dams or river bridges,
This is Jaladuta.
And that is Jalasimha.
to save numerous lives. That is what I am referring to.
You are from Odisha.
In Odisha, we have a bond with the sea coast.
We live around it. Hirakud Dam is the world's longest earthen dam
which is in Odisha.
In my opinion,
it's great to have entrepreneurs from this state working on this.
I understand the problem statement.
But how did you connect with this problem?
The story dates back to 2014.
When we were completing our second year,
NIOT, National Institute of Ocean Technology,
to make something autonomous...
These robots you see
Amazing! Okay.
That is where the story began.
After that, in the next two years,
we ranked first
- in nationwide competitions. - Wow!
Which competitions?
NIOT, National Institute of Ocean Technology's competitions.
National Institute of Ocean Technology!
Technology! It's SAVe.
Students Autonomous Underwater Vehicle Challenge.
Very interesting.
After that,
we received an offer
to participate in an international competition that was held in Singapor
Where we have... Yes!
When you are in college you have a limited budget.
There are a lot of constraints.
India is said to improvise using limited resources.
- They made Chandrayaan at... - It was cost-effective.
We shocked the world.
Similarly, we created this with a lower budget.
And we stood second worldwide.
- Wow! - Impressive.
So, we received exposure there.
This is the very least explored domain.
But the requirement is huge.
Can we see the product?
- Can you explain it to us? - Look at it.
Before that, I would like to say something about this.
Also, tell us what the research is focused on.
The research conducted inside the water
reveals the condition of dams.
Everything above the water is known.
The condition below the water is tremendous.
If the water hits the structure
at a speed of 60-70 km year after year,
then the structure will definitely break from there.
We don't have the technology to inspect that.
We hire divers,
which is very expensive.
Divers also have limitations, they cannot go beyond a certain depth.
And definitely, the data they capture
is very inaccurate.
Will they keep themselves stable or the camera?
On top of that, they are not technical people.
Resulting in higher costs and it takes a lot of time.
Due to these complexities,
the inspection of structures becomes time-consuming.
With the help of these robots, we went to Odisha's deepest...
Ritesh can relate.
The deepest and most treacherous waters. That is the Mahanadi River.
We inspected that river.
You can say it descended 8 floors deep.
That was the deepest point we measured.
We can see the external structures.
We can see the cracks or defects.
Underwater, there is marine growth.
Unless we clear the marine growth, we won't get accurate data.
So, this robot can go
and clean that. After that,
- it inspects... - Does the robot clean it?
The robot cleans the marine growth.
Is that Mahanadi?
This is Mahanadi.
Okay! Tell us what is happening.
We had to inspect the bridge. We deployed the robot.
This is an animation that explains
and captures high-quality visual data that we can view in real-time.
Is this India's first?
- It is not. We have two competitors. - Okay.
Through this product,
we have brought some new revelations in technology.
This existed before you launched this.
- Yes. - Similar to this!
You must have created a better model.
- But this is not a new category. - Yes.
- Ocean exploration is not a new category. - Yes.
You innovated it.
Debendra and Bishwajit tell us, what is the difference between
Jaladuta and Jalasimha?
- Can we see it? - Yes.
- Please! - Show it to us.
This is our service class robot. This provides services.
- Okay! - Jalasimha
was specially made for the Indian Navy.
It is robust.
- We will give a live demonstration underwater. - Yes.
Before that, let me tell you that there are onboard LED lamps.
You can see that a tether is connected to it.
- Yes! - A wire is connected.
That wire connection sends a feed to our laptop.
- This? - Okay!
The deeper it goes, the wire goes with it.
- The wire goes along. - Why don't you use a technology
which is used in Chandrayaan?
Where you don't need wire.
- Without wire... - The competition we won
didn't have wire in it.
But the thing is, underwater is a scenario.
GPS, Wi-Fi and IR
- doesn't work. - LIDAR.
That was called SONARs.
- Give us a demo. - Sure.
Please have a seat.
Water will splash.
We are in Shark Tank and they look like sharks.
How much does one device cost?
Jaladuta costs Rs. 50 lakhs.
Jalasimha comes with a hefty price tag of approximately Rs. 2 crores.
Oh my!
Rs. 2 crores?
Send Jaladuta.
Careful! It is worth Rs. 50 lakhs.
[laughing]
- He didn't put the other one that is for Rs. 2 crores. - Yes.
It will submerge...
Will it float on its own?
Its buoyancy by default
- Yes! - We can see what is happening on TV.
- He is operating it. He is sending it down. - Yes.
Does it move front and back or just up and down?
It does. 6 degrees of freedom.
live data,
- Wow! - It can go faster.
Okay!
We understood the product and its application.
Tell us about about the business.
Its revenue, model.,
how did you get the valuation? What have you planned?
If we look at the revenue from April,
we have a total contract value of Rs. 1.28 crores so far.
That is around the cost of two machines or one machine.
- We don't sell the machines. - Okay! Tell us the model.
Our business model is
that we inspect structures
for any government body or industry.
We submit the data. That is our business model.
How do you charge?
If there is a structure like a medium bridge,
we will inspect it in 5 to 7 days.
If they want analytics or prediction
and want more data through high-grade sensors.
Basic pricing includes visual coverage,
few data and measurements.
Do you have to send manpower for deployment and all this?
With one robot we send around 4 to 6 manpower.
to build robots. How did you fund it?
How many such products do you have?
What is your USP?
Our reporting
and the stability of our robot.
Due to the onboard sensors,
the accuracy of data is significantly enhanced.
What is your revenue projection for the upcoming year?
We are expecting 40-50 times...
Not 40 times, it will be 50 times.
Rs. 50 crores! Are you expecting a revenue of Rs. 50 crores next year?
Yes! Before December 2024.
next year you will make a revenue of Rs. 50 crores next year.
You will make a profit of Rs. 25 crores.
Right? Then why are taking money from me? Take debt from the bank.
Believe me, none of us can help you
other than giving you money.
What will Sharks do?
We have come to this platform.
You are reputed in your field.
If you become a part of our company, you will bring...
Organisation building experience. Maybe that.
Definitely! If we become more active
and increase our team.
The product has been developed. Now we need to expand.
Once we are successful
it creates a chaotic situation.
In order to manage that,
your experience will be helpful.
Okay! I will give you an offer.
If you get a better offer, then go for it.
What is this offer?
I will give you an offer.
Amazing technology!
Great work! Best in India.
My offer is Rs. 80 lakhs for 1%. That was your ask.
And on top of that,
a royalty of 1% of net revenue
until Rs. 1.6 crores is recouped.
We are discussing with some in the preliminary stage.
We have also received an offer to sell out completely.
What is the valuation?
Around Rs. 150 crores.
- and expand. - I doubt you will accept anyone's deal.
- That is what I feel. - Sorry?
You won't accept anyone's deal.
It will bring us immense joy
if any of you
- comes onboard on our team even with... - His face says it all.
A small investment in the initial phase.
It's the future of the future.
I don't think the jump
from Rs. 1 crore to Rs. 50 crores is so easy.
My father has worked for the government.
I think if you raise investor capital,
you will have to show returns on it.
They will also ask for royalty.
You will be under pressure to do all this.
This is a tech business,
you need to think long-term.
Thank you, ma'am.
I totally agree with Radhika.
I believe,
I won't be able
to help with your business.
That's why I am out.
But commendable! Hats off!
And looks amazing!
- Thank you! - Thank you!
I've had a connection with water for as long as I can remember.
I am a Piscean.
The name of my company is boAt.
- And I am also a Shark. - Yes!
- That's good. That's a good one. - Wow!
But we won't work together.
This water device and I won't bond.
I am out.
In India, today, we are in a unique situation
where a drone company has recently gone public.
And you must have seen how successful it has been.
But at some point, J Curve appears.
I don't know whether it will take it to Rs. 50 crores or not.
But I think, your ambition is to get there.
Therefore, I want Odisha's defence and infra business grow.
So, my proposal is that I agree
with your proposal of Rs. 80 lakhs for 1%.
That is his offer.
Good that you are supporting a business from Odisha. Good!
- Definitely a better offer. - Of course.
That is definitely a better offer.
So, is the deal done?
along with the Mahanadi.
Thanks a lot!
Thank you!
Hello and welcome to Ask The Shark.
Joining us today is the CEO and Co-founder of Lenskart,
- Mr. Peyush Bansal. Sir, welcome! - Thank you, Rahul.
Today's question to you is from Ankur Verma.
In Lenskart, this year we have hired a head.
Her name is Archana who used to work for Meta
as head of diversity and inclusion.
We have jobs in our factory such as packaging.
Employment opportunities are easily accessible to them.
There used to be an eye test
in the store that required people to travel,
we have made it a remote model.