[suspenseful music playing]
[thrilling music playing]
These are LED displays!
- Ah! The one you have at home. - Ah! Nice!
- The one she has... - 'Neon Attack!'
Oh! I have this at my house.
You know, it's not a good thing to have at your house
because these are identified with certain places in the world.
Don't kill the vibe at my house!
[laughing]
[theme music playing]
[theme music builds up]
Hello, Sharks.
I waited all my life for the Almighty's sign
just like you all.
- Whoa! - [laughing]
Then we realised
that we get signs from God
but we fail to understand them.
Wow!
God, that's enough.
We got the point. It has become too much now.
We got an idea in the same way in a flash.
"Let's charge with the help of these signs."
- Don't be scared. - Wow!
- Beautiful. - Lovely! Lovely!
Sharks, you are now officially neon attacked.
Nice.
[ethereal music playing]
We make premium-quality LED neon signs
the logo of your startup or a couple's wedding hashtag.
Just share your idea with us
and we'll turn it into a neon sign.
You can customise anything
on Neon Attack's website.
[intriguing music plays]
But, Sharks, if choosing just one colour
is too much commitment for you, we have FloRo.
It changes colours faster than my ex.
[laughing]
All our products can be installed within two minutes.
They use 80% less power
So, Sharks, to fulfil our vision, our ask is
Rs. 75 lakhs for 3% equity in our company.
- Woo-hoo! - [laughing]
'Deal Pakki Hai'.
What's your age?
- We are siblings. - All right.
- I'm 25 years old. - I'm 27.
Very nice.
Such signs are also available in the local markets of different cities.
- Yes. - How are you different?
We have three core USPs.
Our product quality and the materials we use
help our lights last three times longer than traditional neon signs.
It isn't unique.
You said it uses 80% less power.
Let him answer. Let him... Let him finish answering.
Why didn't he start with that?
Both the lights are the same, Namita.
Let him answer.
Let him... [chuckling]
- I was helping you. - Thank you.
The traditional neon signs
were used in the 1980's which ran on gas.
Those kinds of neon signs
are going through a transition
from gas to LED.
- We can get LED signs at local shops. - Yes.
They do sell but the quality varies.
Hardik and Kartik, it's just tomfoolery.
It isn't a dress that I'd worry about its quality.
[suspenseful music playing]
It's just a neon sign made by thousands of people.
- It's not just available locally. - Right.
It's available online as well.
I agree it's a business.
Selling 'paan' is also a business.
What makes it an investible business?
Does it have a characteristic to build a moat
We launched FloRo as our speciality.
FloRo isn't available in the entire world.
We built the entire hardware and software.
They treat all the customers the same.
LED signs already have
light-changing technology. We get LED screens
- which can be used as television. - Yes.
It uses the same technology.
It's not particularly for neon signs
because you need to control it with a smartphone.
If there is a single light...
- Do you have a patented technology? - No.
I understood about your product
but it's important for me to know about your customer. Please tell us.
- Yes. We have divided our customers into three segments. - Okay.
- Is it rented out to event planners? - No.
Event planners need to buy these
but after they buy them, they can use a sign like "better together"
- in other weddings too. - I got it.
In case couples buy a hashtag sign,
they can display it at their wedding or event
and they can also display it inside their house,
- living room or bedroom. - Or the next wedding.
[chuckling]
Who do you sell mostly?
End users? What is the split between B2C and B2B?
What is your average order value?
Woo-hoo!
- Thank you! - Thank you!
Did you notice I have been speaking on your behalf since the start?
Such chemistry is important between a founder and an investor.
- Yes! - After your pitch,
she built a chemistry.
[sweeping music playing]
My two boys aged 18 years and 13 years
are the most excited about the game room.
They do multiple customisation in their game room.
I mean that is what they are working on.
[sweeping music playing]
I reorder on Amazon every three months.
The point I'm trying to make
is that it's a trend.
Also, I feel that the current segment of B2B
is not fully utilised by you.
I want to help you there.
Currently, you are only on the website and WhatsApp.
I think there's a lot you can do.
For instance, marketplaces and retail channels.
I think it has a huge potential. My offer to you is...
You asked for a valuation of Rs. 25 crores.
- Yes. - Right?
I'll give you the same valuation.
- I won't haggle or negotiate with you. - Amazing!
I'll give you Rs. 25 lakhs for 1% equity.
However, I think it's a deal where royalty makes a lot of sense.
So I'd like to give you Rs. 50 lakhs
in a way that I get
maybe 5% on each product as royalty.
[laughing]
- As fast as Namita is in terms of... - Obviously.
- "Decorating my house." She wants to secure the supply. - Obviously.
I want to invest so I need to understand your business.
Did you find out
- the market size in India? - Yes.
The market size in India
- is more than Rs. 8,000 crores. - Whew!
- Yes, let me... - It's not possible.
- It's 100% possible. - No way!
Please prove it because it's impossible.
We have a few TGs in the Home Decor segment.
Gaming, influencers,
kid's room and home theatre. Right?
There are around 1 lakh professional gamers in India.
We think the gaming customers
always face a wall which they want to decorate.
- Yes. - TAM.
But that's not called the market size.
Why? It's TAM.
No. To get the market size
one must have the actual data.
They have done an estimation based on the number of people.
It consists of assumptions. It's not TAM.
My point is a Rs. 9,000 crore TAM
- is not... - It can't be.
It's not unbelievable.
No. It can't be more than Rs. 1,000 crores.
[dramatic music playing]
We are also launching products costing Rs. 2,000-Rs. 3,000.
There are customers who don't have a high purchasing power
but they want neon signs of a high quality.
We have products for them. We can show you.
Please show us.
Woo-hoo!
- Wow! - Whoa!
Oh my God!
Mine is better.
Oh my God!
I love it.
You gave her the right thing.
- I love it. Thank you so much. - This is the one you got right.
I love it. Thank you so much!
Please clarify it to everyone it's an injection.
And clarify that it's a lipstick.
[cackling]
Aren't these things faddish?
Nowadays, LED neon signs are in trend.
Maybe in the next 2-3 years,
this trend could change.
Right? If that happens, you'll be out of business.
It doesn't happen. It has been present for years.
- Actually, it's kitsch. - No.
- Sir, please take it as a signage business. - Okay.
Suppose you have a store, a cafe,
a restaurant or an office.
And you want to display your logo.
What are your options for that?
Either you'll display a hoarding
or you'll display an acrylic sign with your logo.
We have seen offices that display a logo.
Consider it as a signage business.
I'm giving you an example.
Let me give you an example.
Holograms. Right?
We see them in many places.
If they employ advanced technology and become popular,
We guarantee you
that Neon Attack will introduce the latest technology.
Hardik and Kartik, you two are exceptional entrepreneurs.
- And crazy salesmen. - Also, salesmen.
From my perspective,
to make a scaleable product,
one must be clear about what we don't want to do.
In my experience,
the B2B services with customisation
are cumbersome because they act like agencies and never scale.
And I don't think you are at the point
where you can turn down B2B.
Unless you stop B2B,
you can't build B2C which is the product business
that is super scaleable and build a global brand, Neon Attack.
However, the product business, B2C is my area of interest.
It requires selling the signs as is to consumers.
It's scaleable but right now it's a small percentage of your business.
Right now, for me, it's not exciting as an investor.
If you decide to shut down B2B
and focus on B2C, I'd be interested. For now, I'm out.
Boss, I liked this product.
You gifted a lovely piece to me.
- The king salutes you. - [giggling]
However, the quality of the acrylic
isn't something unique.
I'll give you an example.
A few years ago, there was a fad of wooden signboards.
Around 10-15 online companies
started selling wooden signboards. Right?
None of them could become big as it's commoditised and can be copied.
So that's the reason I'm out.
But good luck, guys. Your work is wonderful as founders.
I think you two are exceptional founders.
Your product is amazing
but this business is commoditised
and I can't find a way
to make it 10x better. That's one.
Secondly, if you build a successful business, other people will copy you
because the technology is replicable.
For this reason, I want to be out.
- I'll give you an offer. - Whoa!
- Thank you. - Will you go against me?
- A little bit. - [laughing]
Attack!
Fine. I'll give you Rs. 75 lakhs for 6% equity.
Hey, hang on. Wait a minute.
Do you want to consult me?
- Please don't. - No. Please don't.
I'll give you a new offer.
We want royalty in your business. Okay?
Rs. 25 lakhs for 2% equity.
So your valuation will be Rs. 12.5 crores.
Rs. 50 lakhs as a royalty deal
You are giving a lesser equity. You have a good business.
We are thinking Rs. 50 lakhs for 2% equity
and Rs. 25 lakhs at a royalty of 2%.
- We can do 2x? - Yes, 2x.
Earlier, we gave you a Rs. 12.5 crore valuation.
We are increasing it to Rs. 15 crores.
We'll give you Rs. 30 lakhs for 2% equity
- such that you get a Rs. 15 crore valuation. - Good valuation.
And the balance 45... It's a great valuation.
Given that your last year's sales were Rs. 5 crores. It's three times.
- Wow. - Rs. 45 lakhs at a royalty of 2%.
I asked for 5%.
Until it reaches 3x
which is Rs. 1.35 crores.
Four.
- No? - Please.
- No. - A lot of pressure.
- Tell me what the problem is. Go on. - Non-negotiable.
- You know, Aman. - Sir...
Please understand. It's our first investment round.
What do you want?
We want Rs. 50 lakhs for 2% equity and royalty at 2x.
[joyous music playing]
[music fades]
Th as in 'thathera' (coppersmith).
This is interesting.
Really? You want to do it?
I mean, I'm saying it's interesting to get into the history of all this.
- P-TAL. Copper. - What is this?
[clanking]
Water. Copper water.
My parents are doing this now. Copper water.
- My mother's been doing it forever. - Forever.
- Clay... - Same thing. My grandmother would do it forever.
Clay and copper.
[theme music playing]
[music fades]
It is said that the food cooked in these utensils
retains 93% of the nutrients
Theirs is the only Indian craft
Where they made a mere Rs. 2,000 a month earlier,
- Droom, Arjun Vaidya and others. - Arjun Vaidya.
Vishesh from Shiprocket...
The founders of various D2C brands were also part of the round.
Aditya and Kirti, we'll get to that later.
You mentioned it started as an SRCC project.
Are you from SRCC?
Aman, I was in SRCC
where I completed my graduation in 2021.
Enactus is a society in every college
where we undertake social and entrepreneurial projects.
As a college project,
we students didn't have money to hire a professional designer.
Arjun was one of the students in our college at the time.
Kirti is his sister.
He spoke to her. She has studied professional design.
Kirti agreed that she'd handle the designing part pro bono
- for which she moved from Chandigarh to Amritsar. - Oh, wow!
She developed the designs with the artisans there herself
and made these utensils.
They used to make cauldrons for gurdwaras,
but they made modern utensils for her.
You had so much free time!
Pro bono! Moved from Chandigarh to Amritsar
and stayed with those artisans!
- I'd just graduated that year. - Okay.
My brother was part of Enactus.
Whenever I used to look at the kind of value they were creating,
I was... It was mind-blowing.
What's special about Jandiala Gurdwara?
- Not a gurdwara, it's a town. - Jandiala is not a gurdwara.
It's a small town 30 to 40 km from Amritsar.
Tell us about you, Gaurav.
I'd seen these utensils since childhood as I'm from Punjab.
I had these utensils at home but they were gradually reducing.
When I visited the village
and realised this was one of India's only crafts
which was also listed with UNESCO,
I instantly knew I had to do this.
I wanted to bring brass & copper back into every household.
What are your ages?
I'm 29.
28.
I'm 24 years old.
What are your roles?
I'm the CPO.
I'm the COO.
I'm the CEO.
When we were kids, our grandmothers and mothers used to tell us
to eat in brass utensils, as you said.
We never did listen to them.
Now, the new generation,
people in the age group of 24 to 28 are reinventing this.
It's quite interesting.
- Could you show us your products? - Yes.
Your utensils are made of brass, bronze as well as copper.
Then why did you name it P-TAL?
P-TAL, Punjab Thathera Art Legacy!
Very nice. Lovely designs.
Tumblers for everyone.
That's our bestseller.
- This? - We launched it and it was all over the place.
This one is bronze.
This is brass. It's tin-coated.
It is heavy.
- Why is this corrugated? - It's from the hammering.
That is done by hand...
I got it. Why is it needed?
- It's the identity of 'thatheras'. - Yes.
If you see a machine-made product, the hammer marks will be missing.
This is characteristic of the 'thathera' craft.
Which is your highest-selling product?
The water dispenser
What is its price?
it improves digestion, metabolism and immunity.
You said your utensils retain 93% nutrients
as compared to 13% in the others.
Does 'others' mean stainless steel?
Vineeta, we conducted various lab tests.
We had many vegetables and foods cooked, and observed the changes.
We observed that...
- Let's assume 50 grams of okra contains 2 grams of protein. - Hmm.
After cooking it in our utensil, it had 1.8 to 1.85 grams of protein.
The same okra
when cooked in stainless steel or aluminium utensils,
the number of protein came down to 0.5 or 0.4 grams.
Are these naturally non-stick?
Yes, they are.
- This doesn't need Teflon coating? - No, nothing.
There are three reasons why customers buy our products.
Bronze sells the most in our dinnerware range
because it's good to eat from it.
- So... - Sorry.
Don't you think that from a customer perspective,
your price point is too high?
The proposition of our brand is purity.
Copper pots are easily available in the market
but they're not in fact copper.
Mostly other metals are mixed and pure copper is not used.
Or they simply apply a coating.
Brass and copper utensils will last you a lifetime.
How many kg of copper is used to make the 3-litre dispenser?
3 kg.
What's the cost of raw copper?
Then come your making charges and distribution.
Your tagline is Transforming Traditions Into Trend.
That doesn't resonate with me,
but if the health benefits...
You told us about your customer profile.
The number one customer buys for health benefits.
They must be quite conscious about the quality.
Shouldn't your tagline be something like '100% Grade A'?
Someone who buys a Rs. 1,000 product will find it expensive
unless you make it part of your positioning.
A lot of customers buy from us
because of the instant nostalgia and connect.
No, he's right. I agree with Anupam this time, by chance.
I was nostalgic on seeing the product.
You don't need to say it.
What you do need to say is that this has health benefits too.
Your brand name is solid.
P-TAL as a brand name,
- the wordplay is beautiful. - Amazing.
- Your tagline needs to be a little more sharper. - Sharper.
What's the price of this?
- This is for Rs. 2,000... 1,985. - Wow.
It's expensive.
We've fixed the pricing
keeping the unit economics and everything else in mind.
You said 'unit economics'. Amit is all ears. Please tell him.
Tell us the sales first and then move to the unit economics.
When we started selling in 2019,
We have to optimise a lot of things.
We have a clear focus and goal
as to which channels we could scale and get to that number.
The growth isn't a lot.
- It is 100%. - It was bootstrapped.
We were bootstrapped until now...
Is everything online?
- All your sales? - No, we have a retail outlet also
Our goal at the time was...
If you take the utensils market,
a lot of people wish to buy from offline channels.
They want to see the utensils before purchasing them.
Do you have a photo of the outlet?
Yes.
This is our Delhi store.
Nice.
You're building a luxury brand. Basically, a premium luxury brand.
- Mass premium. - No, mass premium.
You're not mass premium.
Every market in India now is mass premium.
Affordable luxury.
- They're not affordable. - That's what it looks like.
- This is not affordable. - Affordable luxury.
- This is only luxury. - No, this is affordable.
Who makes costlier utensils than you?
- Good Earth is costlier than them. - They're not.
- They are costlier. - Yes.
- Double our price. - Good Earth is double our price.
Yes, they're luxury. You're affordable luxury.
Let me ask you a question after which I'll make an offer.
Do you make a profit or burn money?
- We make profit. - How much?
Let me give you a break up of our unit economics.
Out of our net sales,
No matter when you've signed the term sheet,
I have nothing to do with that.
Rs. 50 lakhs at the same valuation as your last round.
our focus is only on two channels, D2C and Amazon.
We'll focus only on D2C India, Amazon India,
and D2C US and Amazon US.
Export is very important.
Won't you focus on EBO expansion?
We thought EBO was a good model in the long term.
We do want to expand,
but if we look at short term which is the next 6 months,
our focus is D2C and Amazon.
That will eventually bleed.
Who can scale such a costly product in D2C?
If you do not export,
- your price point... - Do export and EBO.
- If you want to be profitable... - Why would you do D2C?
And make a big business,
if you capture even a small market in America or Europe, it blows up!
I'm telling you this
because our entire business is built on NRIs.
Today, at least 5 lakh NRIs visit us every month.
That's a different level.
If you do that, your revenue per user...
Just guess
what is the average revenue per user for NRI and for India.
It's 7x.
- In dollars. - Right! 7x!
Cracking that is very necessary and we cracked it well.
Absolutely. We completely agree.
The price point we've set for the international markets
brings us 85% gross margin.
That's because when we raised a round,
our sales were Rs. 35 lakhs back then.
Now, we've almost doubled to Rs. 72 lakhs.
The funds came now.
- Yes, but we grew without the funds and doubled. - Without it.
Aditya! Kirti! Gaurav!
Thank you for the offer, Sharks.
- Thank you. - It means a lot to us.
- Also, our artisans... - Don't say all of this.
- Take a decision. - Sharks...
It'd be a big deal for us if you all came on board.
- Oh, God! Hey! - The funding that we...
- Namita, when we... - We're Sharks.
When we raised funds,
our motive was to partner with the right people.
In the last 6 months, the help...
We've been able to double our revenue
just because of the right value we've got from everyone.
Money never mattered more to us.
- We would love to have all... - For 0.2%...
- What... - Then set it as per the last round.
Put your money where your mouth is.
- Even then... - You're giving us a sermon.
- Then... - Take more money.
Take more money. Rs. 1 crore for 3.2% equity.
[murmuring]
- Okay. - All right.
- Here, Kirti. - Thank you.
There are a lot of cheques to hold.
They were amazing as a team.
- Very good! - Good kids. Good team.
- Loved them. - Liked the founders.
- Yes! - They will make money.
[theme music playing]
We are from Lucknow.
Today, I am here
to talk about approximately 5 crore people
without whom
boAt's wearable devices,
Emcure's medicines,
things required for weddings,
Sugar cosmetics or cars
won't be delivered to us.
I am talking about truck drivers.
is unorganised
and they don't earn a fixed salary.
Another aspect of this is that
fleet owners like me
often struggle to find certified and trained drivers when we need them.
Road Pilot is an app where
In the last 3 months, we've helped around 1,000 drivers
- Lovely! - So, team Road Pilot.
- Welcome to Shark Tank. - Thank you, ma'am.
Before we understand your revenue model,
- can we see the demo? - Yes, ma'am.
It's Mr. Sunil Verma. When you click on search,
you will see a 'plus' sign,
in Track Job. When he clicks the 'plus' sign
he has to fill out a form.
Their preferred route.
I will feed in Lucknow to Munger.
Nature Of Job.
There are three types of jobs in the industry.
Monthly, Contractual and Trip Wise.
Let's say our job type is monthly.
It shows the salary structure they are offering.
I will select Rs. 21,000 to Rs. 25,000.
Press submit.
The job has been posted. Let me show you the driver app.
This is the drivers app.
He is Virender Kumar from Barmer, Rajasthan.
I posted a job with Lucknow as the location.
When the driver searches 'Lucknow', you can see the job posted here.
He will see the 'apply' button.
He can also see the details. I will apply for the job.
He has applied for the job.
This notification will go to the fleet owner.
He can check driver's profile,
- KYC... - And no one has paid for anything yet.
They have to pay. This is just a demo version.
When the fleet owner creates a vacancy
it links him to a payment gateway.
So, you have 1,000 drivers, right?
There are bigger partners available,
like Delhivery and many more logistic partners.
So, what percent of these 5 crore drivers...
They are connected with an organised player
who have their own technology
to take care of all this.
Ma'am, the big partners
have a market share of 10% to 15%.
Are you sure?
Yes, it is not much.
- Only 10%-15%? That's it? - Their market is small.
Most of the large transporters
also have 10% to 15% of their own fleet.
The rest is outsourced.
- Amazing! - Every month,
how many people look for a job?
Sir, per month, around
10,000-15,000 people look for a job in Lucknow.
- say around 5-7 lakh people are looking for a job. - Yes.
- Right? - Yes.
- You provide them with jobs. - Yes.
Okay! Just wanted to settle that. Thank you.
Who is facing a major problem?
Are drivers facing problems or do fleet owners have issues?
In financial terms,
fleet owners encounter numerous challenges
and suffer significant losses. When a truck is not operational,
they must cover the EMI expenses from their pocket.
And his account becomes NPA.
they discuss, call, and inform each other
that a particular driver is available.
They might have preferred drivers.
To give your truck
to an unknown person
is quite risky. You don't know that person.
It poses a trust issue.
Sir, we verify their background to build trust.
We either go to the local police station
and collect a police verification report,
or we can obtain a certificate
We put a stamp on it with the date.
If anything goes wrong, we can trace him.
Hold on!
The process of police verification and letter...
I ran a business for background verification.
In police verification,
the expense is around Rs. 800-Rs. 1,000.
It costs Rs. 500 to obtain a letter from the head of the village.
You will spend Rs. 1,500 on this.
[suspenseful music playing]
Ma'am, the driver has to bear the cost.
Police verification costs Rs. 40.
That's why companies run police verification.
If it is forged, we obtain the letterhead from the village council.
And we cross-verify it.
I am out for now.
I doubt the fleet owners
can gain trust.
Claims can also be made against you.
For that reason, I am out.
What are your sales?
Ma'am, as of now,
we closed at Rs. 9.87 lakhs on the 31st of March.
That is where I see a big problem.
You have a better understanding of this industry.
So, I think you should continue as a fleet owner.
But I am out.
I wish you the best.
Rs. 1 lakh sales a month
is as good as pre-revenue.
And for that reason, I am out.
Numbers reveal the proof
of the marketplace model when the app is ready.
Out of 5 crore drivers around 2,800 are on your app.
I think you have not
achieved product-market fit.
Taking money from truckers for insurance, Dhaba discount,
and getting a job will never work,
Maybe it will work if you shift your revenue model
towards fleet owners.
My suggestion would be
to keep your revenue model fleet-owner focussed.
Don't make money from truck drivers.
Bring a lot of truck drivers on your platform for free
and you must ensure to reach at least 1 lakh drivers
You mentioned the revenue of Rs. 1.17 lakhs.
How much are you making from truck drivers and fleet owners?
2,800 truck drivers, right?
You are making 70% of your revenue from them.
Let's say around Rs. 80,000.
So, how much is your per unit monetisation?
Per driver?
[upbeat music playing]
You tell us.
[laughing]
I would like to ask you to take a back seat in this business.
Look at the market.
You are involved in a market that doesn't exist.
Many times, we feel passionately about something because
we understand the issues that fleet owners and truck drivers face.
It can be a passion project
or a hobby.
It cannot be an investable business.
The market isn't that big.
If you want to work on it you should create an ecosystem.
- Don't just use it as a job platform. - That's why we are here.
Help us create an ecosystem.
- He is also in automotive. - I think
I am out today.
- TruckDekho. - I won't fit into your vision.
- Thank you, guys. All the best. - Thank you.
Thank you, sir.
- Vineeta, what were you doing? - Employment verification.
- What were you doing in police verification? - What's that?
It was an HR business.
Before recruiting, we used to do
employment verification, police verification,
and education for companies.
- Nice! - In India...
40% of people mention
- incorrect salary... - That's right.
- Incorrect designation and experienc - You used to verify that.
When you check with HR,
in 40% of cases, it is negative.
In which year did you try this?
In 2007-2008.
That is a problem in my office.
- Will you do it for us? - If you came here to pitch,
we would have asked you to shut it down.
No, I tried my best to raise funds.
Because I was introducing tech into it. But no one helped. I shut it.
Good! You did the right thing.