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- Sharks, isn't it scorching hot? - Hmm.
The heat takes a toll on everyone.
Every time the temperatures rise,
one solution comes to everyone's mind,
to turn on the AC.
Sharks, do you know how bad ACs are for our environment?
Global warming is on the rise
and air-conditioners account for 16% of the emissions.
For thousands of years,
Indians have used clay pots to keep the water cool.
When we can keep water cool, then why not the air?
Using this concept, I made CoolAnt.
CoolAnt is a natural and biomimetic cooling solution
in line with the local climate, sun angle and natural ventilation.
I want all the buildings being built in India
to be climate-responsive
and to help reduce global warming together.
To realise this dream, my ask is Rs. 90 lakhs for 1% equity.
I was working on the design for a factory.
The diesel gensets emit a lot of heat.
I was working there as an installation artist.
I provided an installation,
where instead of trying anything light
like evaporative cooling pads made of 'khus' fibres,
for that project, I thought of using terracotta instead
which is very robust.
It has a temperature resilience of up to 800 degrees.
Using this can reduce the heat gain and also provide cooling.
Where did you study architecture?
School of Planning and Architecture, New Delhi.
For how many years?
For four years, I worked as an architect in a firm.
When did you start your own practice?
2014, after four years.
When was CoolAnt established?
So, I came back after 1.5 to 2 years to see it, and it was still working.
I thought I could show this to more people
and pitch for more work.
For thousands of years, the houses in deserts
- have had a similar cooling concept... - Absolutely.
What is that exactly and is it related to this?
The houses, mansions and forts we see in Rajasthan...
- Hawa Mahal. - They're a beautiful example.
- The 'jaalis' are quite intense with small punctures. - True.
To soften the light coming in and cut the direct heat.
When air passes through the holes,
it creates a compression which can help in cooling.
What we've done is
add evaporative cooling to the same technology.
Not only does it provide shading
but cooling too, with the help of water.
- It's the same conceptually. - Absolutely same.
This system is a passive design.
You're using the building's architecture
for thermal comfort and other comforts.
This is how buildings should be.
- Old fashioned houses with tile roofs... - Yes?
- They're made of this material for the same reason. - Absolutely.
CoolAnt is a solid name.
- You call it CoolAnt. - Yes, CoolAnt.
Is the ant your mascot?
I feel that ants are the best creatures in the environment.
Ant hills are thermally solid. They are very cool.
They're an architectural marvel.
- Anthill. - It's a smart choice.
They're synonymous with teamwork and collective intelligence.
Especially teamwork.
Could you show us examples of the buildings or your designs?
- More outdoor. - And the building envelopes. Yes.
A regular building is made like this
which is without air-conditioning and ventilation.
This works in four stages.
- Cooler. - Cool air.
Could you start the water supply and give us a demo?
Yes.
When water falls on the pots, they get wet.
- Terracotta absorbs water. - Hmm.
So, you don't need to run water regularly.
Plus, it will smell of wet earth.
- Yes. - I am getting a faint smell.
Do you manually move them or is it automatic?
We set it the first time as per the climate and the local angle.
- Once, permanently. - Yes.
In this project, the client also wanted to move it.
- Okay, - It's possible, it's more expensive.
- The façade is like this. - Yes.
Do you have more photos?
- Yes. - Show us.
This is some work that we have done in the past. Ant Studio.
- This is your studio. - Yes.
This was for Deki Electronics.
We installed this in front of a DG set.
- It cuts off the heat and provides cooling. - Okay.
- Very nice. - Got it. Very interesting.
Suppose you install it in front of a DG set.
- Can you record the difference in the temperature? - Yes.
What was the difference?
The local temperatures, in peak summers, exceed 50 degrees.
- With this, we got it down to mid thirties. - Wow!
I can't generalise this.
I can't bring it down from 40 to 25.
From 50, I can easily bring it down to 32 or 33 degrees.
In your pitch, you claimed
you could save 30 to 70% of energy
by using these installations.
How do you validate this claim
and how did you ensure
that your studies were objective?
We have done a lot of research on this for the last 3 to 4 years.
We have done energy modelling, simulations and also buildings
to understand its performance.
is it commercially proven there
that they've had a saving of 30 to 70%?
Okay, I'll give you an example
of a product we had done for the commander's mess in the Army.
We installed this on one floor
in a space of 2,500 square feet where this was implemented.
After analysing the thermal comfort of the entire space,
we had converted that into natural ventilation.
It has no ACs.
They have observed
that the cost of air-conditioning has gone down by 30%.
Clay artisans can see how the process is done.
These clay pots
are our most popular and best product.
We've open-sourced it.
I have shared all the material online.
We want this to be made locally,
- copied and used everywhere. - I see.
Monish, how will you do business?
If we talk about the future, what do you see your business as?
Is it a product or is it a service?
- It is a product. - Okay.
Plus, we can also combine a service with it as a tool
so that we can reach the masses.
- No, you can do it. I... - Yes.
What's your focus?
What is it you want to do?
There are two things that are there in this.
That clay installation...
- The middle one. - That's right.
- Clay potters can be made locally. - Okay.
It'd be stupidity if I made them in Delhi
and sent them to Pune.
- All right. - It doesn't make any sense.
So we gave them information to make it.
"You may pay us any price."
We made it in Mexico using this procedure.
- Okay. - By sharing the information.
You turned it open source. Okay? Done.
Our second installation
is developed using CFD and Aerodynamics.
is that in that model, the water fills from above.
On the other hand, the water in the aerofoils is inside the system.
There's a capsule inside it which contains water.
Water isn't flowing outside.
Why can't anyone reverse engineer it?
- Its manufacturing is complicated. - Do you manufacture it yourself?
- and sell them. - Exactly!
I got it. Thank you!
Monish, firstly, your pitch was phenomenal.
The hook you used
in your pitch of 30%-70%
Secondly, I liked your idea of open-sourcing
your most unproductive business line.
Because if we make earthiness cool
and people start installing it in buildings,
your business will grow in the future.
- Congratulations on that. - Thank you!
However, I don't find it investible,
because in this category of business,
your primary long-term buyers will be builders.
The sales funnel of builders
has a credit cycle of 60-90 days.
There are recovery issues in India at least.
As of now, I don't want to risk
investing in such businesses.
So I can't join you today
but I love your work. Congratulations!
Thank you!
- Let's understand your business. - Yes.
Okay? Tell us your sales figures.
Since April this year,
How much cash burn do you expect this year?
- You are seeking investment in this company. - Yes.
Will you continue the architectural practice?
Yes, definitely for now.
Why did you ask for a Rs. 90 crore valuation?
- Your sales aren't even Rs. 2 crores so it doesn't match. - No.
We started the sales only this year.
which we aren't able to fulfil right now.
Do you have an order book?
Yes. You must have quantified the worth of enquiries in crores.
I'm out for two reasons.
The first reason is that I didn't like the fact
that your sales figure was Rs. 2 crores
and you have an order book of Rs. 3 crores.
In the best case scenario, it could be Rs. 5 crores.
So to demand a Rs. 90 crore valuation
So today, I'm out, but I wish you the best.
Thank you.
Monish, I think yours is a project-based business.
Your future revenue streams are unpredictable.
It's difficult to underwrite it using any method.
You aren't modularised yet.
It's not that service businesses and other architecture firms
are giving you orders and you are maintaining an order book.
So it's extremely difficult to underwrite it
and for this reason, I'm out.
However, let me give you a suggestion.
I think you should merge the architecture firm
and your unique approach.
If you establish your identity in this way,
you'll create a unique identity for yourself.
And you'd be able to get more business.
and then raise capital. Good luck to you.
Thank you.
Monish, you may install
your product everywhere to provide cooling.
If it's really effective,
I'd request my admin team to get it installed
because we get huge electricity bills which terrify us.
Maybe it would lessen.
However, I don't feel excited about this category, unfortunately.
If I'm not excited enough, I won't be able to work with you.
Also, a Rs. 90 crore valuation is way too high.
So, unfortunately, I'm out.
Let's meet in Delhi.
Thank you.
If you convince me as a customer,
you can also convince me as an investor.
Let's go back
to the area of the army's accommodation.
- How much did you invest in it? - Rs. 8 lakhs.
What was their electricity bill?
Their electricity bill was around Rs. 3,000-Rs. 4,000 per month.
So they will save Rs. 36,000 per year.
It means they'd need 25 years to get a payback.
We installed it on the building facade.
If it wasn't installed, some other facade would have been used.
The incremental value of this
against a regular facade is 10%-15%.
You mean we shouldn't consider its cost to be Rs. 8 lakhs
but rather Rs. 1.5 lakhs.
Yes, because you'd install some other facade instead of this.
It wouldn't have been barren anyway.
As compared to 25 years, 5 years is a lot more palatable.
However, I think 5 years is also a long time.
You could crack this.
Your efforts are interesting
but you need more time.
Honestly, I was interested in it in the beginning as a customer
but you aren't functioning commercially yet.
So I'd like to wait for some time.
Once you reach a proper payback calculation,
please reach out to me. We'll surely meet you
and try to work together.
- Thank you so much. - Thank you.
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Wow!
That's a really cool entry.
Hello, Sharks!
- Hi! - My name is Trivikram.
XMachines is a Robotics and AI company.
India is a place that has the potential
to become the world's food capital.
We have amazing weather conditions
and we also have
agricultural know-how from thousands of years.
But still, we are held back by some problems.
One of those problems is mechanisation.
Around 80% of farmers in our country
are small and marginal in nature.
So historically, farmers mostly depended on manpower.
Manpower is affordable and easily available.
- Right. - Nowadays, it's neither affordable
nor easily available.
through sales and also on rent.
For this, our ask is
I studied in Hyderabad till the twelfth grade.
After that, I pursued Mechatronics Engineering in Hong Kong.
What does Mechatronics mean?
What did you do after that?
Then I worked in the technology
and manufacturing industry for 2-2.5 years.
- So your job was not related to this. - No.
- Okay. - It's near Vizag.
- The university you attended. - Yes, I did.
I found the course interesting.
- When did you return? - In 2016.
Vikram, the product is quite good-looking.
You have made an interesting automated product.
It's difficult to build such technology.
In fact, the ones in black matte remind us of Tesla's Cybertruck.
It seems to be inspired by Tesla as he named it XMachines.
XMachines. Yes. Is Elon Musk your role model?
Actually, the model we built in 2017
is at the extreme right.
- We built it in 2017... - Before the Cybertruck.
- Even before Cybertruck. - He stole your design!
[chuckling]
Which year did you start your business?
We started in 2017.
and Robotics in an outdoor environment is extra hard.
So we had to spend a lot of time and do refinements to make it.
What does this machine do?
We call it a Micro Tractor.
It runs on electricity.
XMachines works on Robotics and AI.
- We started making micro tractors recently. - All right.
If you had seen season 1,
- you must have seen an entrepreneur called Jugadu Kamlesh. - Yes!
He made a mechanical product
- Can you show us a video that demonstrates this? - Yes, ma'am.
- Ma'am, I'll brief you. - Yes.
So this is called a Micro Tractor.
- Okay. - It has multiple attachments like a standard tractor.
They can be used for seeding to harvesting.
I got it.
A few of those are still under development
but I gave you a fundamental idea.
Let's start with the journey of a farm.
The first step is ploughing.
Either they use cattle or loan a tractor.
- It doesn't play a role in ploughing. - No.
in order for it to operate autonomously.
For example, a farmer is going with a fully autonomous solution.
What will happen is, it will sow the seeds.
And on the app, which is very close to deployment.
The farmer will mention spacing.
He will feed the distance between the seeds,
After attaching the weed control attachment,
let's assume it is an autonomous solution.
There are three sizes.
- Amazing! - Ma'am, thank you!
Yes, ma'am. Everything!
The grass cutter attachment
It can be utilised well in orchards.
- It reduces the volume. - Excellent!
- Very nice! - It's impressive, right?
- Is there more? - I will show you the sprayer.
It is not effective if you spray from the top.
- Okay! - Oh!
You made a weapon!
What else does it offer?
or a fertilizer box.
It should be able to carry it and work for 8 hours non-stop.
- They don't need that many people. - Yes, ma'am.
- A small tractor's alternative is manual labour. - Manual labour.
And what is the alternative to Xmachines in India?
Okay? After working one full day,
they will not agree to come back the next day.
Where have you used these machines?
- How many have you sold? - Ma'am!
There is a payload difference.
It ends at Rs. 4.5 lakhs.
Did you speak with the farmers?
- Sir... - Will they buy this?
We didn't even draw a line without speaking to the farmers.
But there are buyers too.
What is your long-term vision?
Do you want to do this only in India,
or globally? What have you planned?
There are many European companies. Why aren't they inquiring with them?
Ma'am, I don't know
But how will Rs. 70 lakhs help?
It is capital intensive.
- What will you do with Rs. 70 lakhs? - Ma'am, actually,
How are agricultural devices sold?
Through tractor dealers and agri-equipment dealers,
Will you sell through dealers?
When I asked you earlier, you said there was no strategic partnership.
Now you are saying you will use their dealership.
- Can you offer a much lower price for this if you scale? - Absolutely!
How much lower?
The one that is for Rs. 1.9 lakhs.
- Yes. - That will cost Rs. 90,000.
- Yes. - How high should the scale go
- to reach Rs. 90,000? - We have to do it in above 5,000 units.
- 5,000 units a month? - Per annum.
How much will the gross margin be then?
We can easily get around 35%.
Listen, I agree that your product and passion is impressive.
But I don't see this business growing.
I am not able to understand the proposition.
Why would you install software in this
and sell it to a farmer for Rs. 1 lakh?
I can't fathom that.
If you want to make this, you should ensure
So, there is nothing new in that model.
I am sorry. I can't see any potential growth for this business.
- So, I am out. Good luck! - Right, sir.
But is this proposition correct?
I am not sure. It's too early.
- All the best! I will be out. - Thank you!
Can you explain your Cap table?
You are saying, you will end this year
with a revenue of around Rs. 60-70 lakhs.
Okay! Even if you invest everything
- you are not expecting a lot of losses this year. - Correct.
The majority of loans taken by farmers
are from purchasing tractors.
Because of that, the tractor is also
a very big risk for the farmer.
If there is no productivity from it,
it will hinder their earnings.
Because of that, Namita and I together,
would like to support your business.
We also believe that Murugappa is a good partner.
We would like to make this business grow with them.
So, we have an offer for you
based on your previous valuation.
isn't very different compared to the huge tractor.
But it is a cool product.
To figure out whether pre-product-market fit
is too cool
or too cool for school. Will it even work?
- That seems difficult. - Sure.
You have a good offer.
So, congratulations! And I hope...
Your logo's font seems to be inspired by Tesla.
So, I hope, just like Elon Musk,
you inspire a generation of Indian technologists.
- Congratulations! I am out. - Thank you.
Tell me, should we take your tools worldwide?
It's a deal!
Hello and welcome to Ask The Shark. You know the drill.
You ask the question and we present it to the Shark.
Joining us today
is the man of style and the Founder of Shaadi.com,
Mr. Anupam Mittal.
- Welcome, sir. - Thank you, sir.
Sir, the question is quite interesting.
Sir, Surya Prasad from Chennai wishes to ask you this.
In meetings and business discussions,
how to get your point across?
I would only say
that the more you think about it,
- the harder you'll find it. - Okay.
I think the important part is
that you ask this question.
How to develop confidence?
If you are confident in the meeting or business discussion,
- you'll be able to demonstrate assertiveness effortlessly. - Yes.
You'll be able to put across your point confidently.
There's only one way to do that.
Especially in the beginning, when you're low on confidence,
you need to be fully prepared right before the discussion.
You should know everything about the subject.
What might be the agenda,
what the topic of conversation will be
and which direction it might head in.
If you're prepared, you'll be very confident.
If you're confident,
you'll be able to put your point across
and communicate.
I think that's what one should focus on
as opposed to how should I be assertive.
The assertiveness will come naturally.
Sir, very well said.
I think, firstly, you need to be confident
about your content and product.
You need to also communicate that with extreme clarity,
and I think the job is done.
- If you're prepared, you'll be assertive. - Yes.
Suppose you attend the meeting or discussion
with second thoughts and self-doubt about whether or not you're right,
Thank you so much, guys, for joining us.
We'll see you in the next one with a new question and a new Shark.