[music playing]
[theme music playing]
[theme music concludes]
Greetings, Sharks.
I am the founder of FundooLabs.
At FundooLabs, we make
I studied engineering and got into automation design.
After working in the industry,
I realised that young engineers
to arouse an interest in science among young kids.
That's how FundooLabs began.
The mission of FundooLabs
is to make science and technology experiential
as well as fun-filled.
Our toys are loved by kids who are 4 to 14 years old
as they boost their creativity, critical thinking,
are available in over 3,000 retail stores in India
through our offline distribution channel.
All our toys are 100% safe and BIS-approved.
through offline distribution channels,
we've grown our business 200% year on year.
FundooLabs aims to touch a revenue of Rs. 200 crores by 2030.
To achieve that target,
our ask is Rs. 60 lakhs for 4% equity.
Sharks, join us
Ma'am, before we begin the discussion,
I'd like to call upon our expert product toy tester here.
Sure, go ahead.
[pleasant music playing]
- Oh, hello! - Hi.
Hello, Sharks.
My job is to use FundooLabs products,
gift them to my friends,
collate their feedback and give it to my dad.
- Oh! - Great job.
I have five years of experience doing that.
So, I am basically a professional guinea pig
- for all the present and upcoming products of FundooLabs. - Amazing.
So, Sharks, I would like to give you a quick demo of all our products.
All right, let's do that.
Our first category is Fruit Jelly Slime.
This must look like pink water to you
but it is a completely non-sticky jiggly slime.
- you get a really unique sensation. - Whoa!
Now, let's move on to Mint Chocolate Butter Slime Kit.
- My daughter would love you. - Yes.
Kids are very fond of slime.
This is the Funfetti Cake Slime Kit
which is a thick and glossy slime.
You're going to love it.
- Should we, Dad? - Let's try.
Oh my God! Tug of war!
Good heavens!
- Come on. - Oh, God.
- Come on... - In this case, it's the kid and father!
- Wow! - Two.
- Whoa! - Oh!
Wait, one more is left.
We have Aqua Squish Ocean World Kit
Like this dolphin and octopus.
- Namita, would you like to make squishies with me? - Of course!
- Wow! - I love them.
- Very innovative. - Nice.
Love it!
So, you can choose any mould that you want.
And then what do I do?
Now, you have all of these colours.
So, fill them to the very brim the way you want.
I love all this. Ah!
Thank you so much for picking me. I love doing all this.
- This is so cool. - I know.
- Kids love all this. - Yes.
[light-hearted music playing]
- Basically, slime is your core... - Yes.
Now, you're supposed to put this in here.
- Inside, like this? - Yes, place them parallelly.
- We'd love it if you gave us some gifts. - Yes, sir.
- Definitely. - Regardless of whether you take the investment.
Now, you can see this is shrinking.
Yes. Yay! I see that.
Yes. Now, gently shake it.
- Will it come out on its own? - Yes.
It did come out.
Whoa! There you go.
- Do I turn it? - Will this solidify?
Yes. Don't touch it now.
- After 10 to 15 minutes, it will... - Will it become like this?
- Yes. After 10 to 15 minutes. - How sweet!
- This one. Wow! - Show me.
[light-hearted music playing]
Very cute.
Thank you, sir.
- Thank you, Priyanshi. - Thanks...
Thank you for the demo.
- Bye! - Bye, nice meeting you.
- It's slime. - Distribute it...
- Naitik! - Yes?
- Yes, ma'am. - We can make this at home too.
My son borrows recipes from YouTube and makes slime at home.
Our kit contains the required materials separately.
So, kids will get the same experience from our kit.
- Okay! - It has slime glue and an activator
which they can mix to make slime.
We started our business with DIYs.
When we launched our products in the market.
Retail store owners told us,
"Sir, your slime is quite good"
"but the market for the ready-to-play slime is way bigger."
So, we did more research
and identified what the problem was.
Many times, what happens is
mothers don't want to buy their kids slime
because they will put it in their hair,
- on the sofa and so on. - Absolutely.
- It's very true. Very good point. - Yes.
- I hide it every time. - Right.
- The moment it arrives, I hide it. - That problem exists.
I began researching
how to make slime non-sticky by keeping the feel intact.
- Your... - That's your formula.
Your slime is bleeding colour. My hands have turned green.
Sir, Mint Chocolate Butter Slime Kit that you have uses food colour.
The food colour is a little high in concentration.
So, if you play with it for a long time, your hands...
I didn't play for a long time. I...
- I just... - I played for a long time but the colour didn't bleed.
- Look, my hands have turned green. - Yes.
Since it is food colour, it is completely safe.
It's safe, but any colour is not healthy, right?
- You should be careful... - Sure.
- If it bleeds colour. - We'll take care.
Sir, my father had a wholesale store.
I used to sit at the shop since I was in the first grade.
I'd man the cash counter for about an hour
and tend to the customers.
- Cash counter. - I used to count money from that time.
I became good at business by the twelfth grade.
- I could handle the shop in my father's absence. - Well done.
I was good at studies.
So, I did engineering in biomedical instrumentation
as I always had an interest in science.
I used to make science projects even when I was in school.
I cleared the GATE exam
I had a house, a car, a wife and kids.
- [laughter] - And a mother too.
- A mother too. - Yes.
I always aspired to do something on my own.
I also deliberated about what I was good at.
- Very good. - Priyanshi is growing up fast
and she's a really curious child.
She asks me a lot of questions.
- She chews my ears off! - [laughs]
So, I'm the kind of father who loves to give demos.
Be it experiments or demos.
I felt that I could fuel her curiosity
and because of that, she knows more science than her classmates.
So, I thought I could make science easy and fun for kids.
Nice.
I quit my job at L&T in 2016.
I thought I'd conduct scientific workshops which kids could attend,
do science-based experiments
and learn science experientially and in a fun way.
We ran workshops in 2017
and saw a gradual progression.
We collaborated with schools
and made STEM laboratories in them.
We did that until 2020 or 2021.
Parallelly, sir, while working in the school segment,
I felt that schools were a price-sensitive market.
Scalability was an issue with schools.
Sir, when the pandemic hit us in 2020-2021,
schools had shut down completely.
I thought this was a good time to pivot
where I could work outside the school segment
and also scale.
I had 200 unique experiments which I offered in my workshops.
I picked one product out of that which was slime.
I thought such a thing didn't exist in India
and kids really wanted it.
I designed two kits.
Candy Slime Kit and Blue Galaxy Slime Kit.
Because I'm a bit of a risk taker, I made 10,000 kits of each of them.
- Whoa! - Gosh!
You call this taking small risks!
- [laughter] - Wow!
How much money did you invest?
At inception, I invested Rs. 30 lakhs in FundooLabs.
- I exhausted that money in 2 years. - Oh, God.
In 2 years, I made that Rs. 30 lakhs back.
- So, in 2020-21, I was at zero again. - Okay.
- I then used that Rs. 30 lakhs to make two more slime kits. - Gosh!
So, I ventured out.
I got small orders for 2, 5 and sometimes, 6 kits.
I knew retail wouldn't make me money.
Then I started roaming...
I'd always meet the retailers first
and ask them about the distributors and then go and meet them.
Did you sell all the 20,000 units?
- Yes? - Yes, in 1.5 years.
After that, I made 14 new products and sold them.
The sales were good
as I'd done market research and made them in that price range.
Until now, 95% of the total slime
which has been sold in India is Chinese.
We buy a lot of slime. It is needed at home.
I buy gifts for my kids when I go home.
I don't look for Blobbie slime.
- What you are selling in comparison to the others... - Right.
Didn't you face a problem,
because you're obviously priced higher than the competition?
If we consider the price of Chinese slime,
it is available for Rs. 40 or 50 or Rs. 100
but its quantity is 40 to 50 ml.
When we launched our first product,
- They'll sell your slime. - Yes.
Then I might have bought yours.
Possibly, sir.
Naitik, what's your reach in general trade?
- We have 25 exclusive distributors. - 25.
And through these 25 distributors,
we're available at around 3,000 retail counters.
While the business was being built, did you have backing?
How did you run your household?
- Sir, I had Rs. 30 lakhs. - Yes.
I had a small set-up with a 400-square-foot office.
I went from 400 to 800.
Then we wanted to grow further.
In terms of money,
throughout our sales, we've remained profitable.
If you look at 2021-22 or 2022-23,
we tapered the business in schools
and now, in 2024-25, we do 100% manufacturing of toys.
We started with our products.
If you see, in 2021-22,
- This is your main source of revenue. - Yes, sir.
Let's say I invested Rs. 60 lakhs of my own.
My wife and parents invested too.
So, the family has invested around Rs. 90 lakhs.
Tell me something.
Would kids know the nuances of slime?
My daughter has never told me which slime she wants to date.
She never took a brand name.
Sir, the slime industry in India is in the growth stage.
Kids watch international videos and demand slime.
Building a brand is not that important.
If the formulation is great
and no one in the market is able to provide it...
They are!
Slime worth crores is being sold.
- You can get that banned eventually. - Sir...
Organised retailers won't sell that.
- Sir, online and big retailers in India don't sell it. - Okay.
- Does the modern retailer sell slime? - Yes.
Do they sell your slime?
No, sir. There are players in India that make slime
and are BIS-certified too.
- Is that so? - Yes.
How big? Who's the largest player?
We are the largest player.
There's no market in India!
Not only does FundooLabs intend to make slime
but also to add scientific products.
We're introducing a new kit now
- called Squishy Human Organs. - Gosh!
That really worries me.
- The adults might buy that. - I'm already too troubled.
- My daughter will start throwing organs at me. - Yes.
- Don't make it. - She might throw a heart at you.
With that kit, kids can make a heart,
kidneys, lungs and even a ureter.
So, by doing this,
we are subtly introducing education with our fun play.
Another upcoming product is Fizzy Colour Tablets.
There are no bathtubs in India, only buckets.
We've made a small tablet which we're going to launch soon.
If you put it in water, it will fizz
- and like effervescent tablets... - Yes.
The entire water...
- The colour will change. - Yes.
If I put a blue tablet in water,
- the water... - I brought so many of them from the US!
Tell us a few more products that are in the pipeline.
- Just to get an idea. - Those days.
and add chemicals to it.
You make a tree out of paper.
Within 15 minutes,
it will become a fluffy tree.
- This... - You're so happy!
[laughter]
Just talking about it.
- Excellent. - The product...
Because I'm in love with my product.
Tell us a few more.
I want to make fake blood.
- That's what I wanted to hear. - [shrieking]
I was waiting for it!
Well, kids love doing creepy things
and I do too.
[laughter]
- So... - Lovely!
- The truth is out. - You're too good.
Tell us a unique product.
For big kids.
- Let's say you and me... - Yes.
- Those who are grown up but... Yes. - Kids like us.
- Are kids at heart. - Yes.
I want to invent a gun.
Fill in a few chemicals,
pour water and close it.
There will be a blast when you pull the trigger after five minutes.
Two chemicals will react releasing a gas.
The reaction will be so quick that it will cause a blast.
[hysterical laugh]
Do explosions take place at your home?
I've set things on fire too, sir.
Doesn't your daughter scold you?
No, she helps me.
Her mother says, "Hey, you'll destroy something."
I tell her, "We'll deal with it later."
Let us try doing something new
- which is there or is not there... - So cute.
- In the international market. - You know who you are?
You're the real Santa Claus without a beard.
[all laugh]
- He's even wearing red. - [laughs]
Naitik, I'll make you an offer.
[triumphant music playing]
- I understand the Gen Z market very well. - Right.
I'll be able to sell the products to them well.
The same goes for you.
You're well-versed in the market for kids.
You know, a lot of kids watch this on YouTube nowadays.
You'll need to market this on YouTube a little.
You could also take this international in my view.
We have already begun.
Last month, we shipped
- a consignment to Sri Lanka. - Very nice.
From next year, we will target the US market.
That is where the future is.
I'll make you an offer. Rs. 60 lakhs for 10%.
Is that mostly offline?
- 100% offline. - 100%.
Let me give you this year's revenue.
In April, it was Rs. 22 lakhs.
In May and June, it was Rs. 18 lakhs each.
In July, it was Rs. 22 lakhs again. Rs. 37 lakhs in August.
Rs. 32 lakhs in September.
Next three months, we'll do Rs. 42-45 lakhs on average.
What's causing this growth?
Are you opening more counters or is it from repeat orders?
As per the bifurcation,
general trade comprises 48%,
modern trade of 36%,
quick commerce of 12%
and online of 4%.
Are all your channels money-making
- or are some channels compensating for others? - No, sir.
I'm making equal money from all the channels.
I started selling on Amazon,
but I soon realised how long it'd take.
So, I started venturing into general trade.
I got that, but why didn't you start online in the last 6 months?
Sir, I'm operating at my full bandwidth.
The business of Rs. 35 to 40 lakhs I'm currently doing
is my production...
- The funds you'll raise now... - Yes?
Will you invest towards factory expansion?
Sir, we've recently expanded our factory.
What's the capacity now?
- I can generate Rs. 1 crore from one factory. - 1 crore.
- Yes. - You'll reach Rs. 1 crore very soon
- if you make innovations at this rate. - Yes, correct.
If you want to do 10x, say go to Rs 4 crores from 40 lakhs,
what CapEx would you be looking at?
If I talk about machinery,
then Rs. 40 to 50 lakhs will cover 10x.
But currently, the capital
is going towards stock and debtors.
Shouldn't you be preparing for the next two years?
Why are you raising only Rs. 60 lakhs?
Sir, I want to raise Rs. 60 lakhs now
and touch Rs. 10 crores next year.
- Rs. 10 crores per year. - Per year.
- Okay. - And I will.
You will!
I will raise a new round after that
when I want to expand internationally and for D2C.
- Very good. Good point. - Got it. Quickly!
What are your unit economics? Quickly.
If I sell a product for Rs. 100,
my COGS is 48%.
- This is on Rs. 100 of net revenue, right? - B2B.
My net revenue.
- Yes. - After tax.
- Before tax. - Okay.
- So, COGS is 48%. - Right.
Our operation cost currently is 21%.
Okay.
Sales and marketing is 9%.
Outward freight is 3%.
And EBITDA is 18%.
You're making 18% EBITDA.
That's good but your expenditure will rise.
Manpower... Do you draw a salary?
- Yes, I do. - How much?
- Rs. 1 lakh. - Okay.
Anupam, more than salary, it's an inventory issue.
- As you increase SKUs... - Right.
Keeping that inventory, your working capital will be blocked.
Sir, let's look at the ratio of our general trade and modern trade.
We get payments in modern trade faster.
In how much time? What are your payment terms?
2.5 months.
Whew!
You know, my problem is,
how will you build a brand?
Then you have your own manufacturing.
There are working capital issues
in terms of just a large number of MT and GT,
debtor days and inventory.
to deal with a supply chain complexity
and to make a brand
with so many SKUs with a science handle.
I think Aman made you a great offer.
Today, I'm not getting that clarity. It's a little early for me.
So, for today, I'm out.
Naitik, GT forms a very large part of your business.
I find your GT economics a bit scary.
That's why I feel that right now,
in a Rs. 3-crore business,
Rs. 1.5 crores coming in with the GT risks
Okay.
I recommend you take Aman's offer. I'm out for now.
I think, Naitik, there will be a challenge going forward
because this is quite a price-sensitive category.
There will be competition and copies soon.
- I know you'll be ahead of other people. - Yes, sir.
- Your business is good, you'll make money. - Right.
I don't know where I'll add value. You know everything.
I'd like to be out for now.
If you need help with the manufacturing
you can call me anyway.
- Right, best of luck. - All right.
You're very passionate about science and it's remarkable.
That translates into dedication, focus and hard work,
- and enjoying it while you're doing it... - Yes.
That's the biggest thing.
So, I'll make you an offer.
- Ooh! - Thank you, sir.
I think Rs. 60 lakhs for 8% would be fair.
Rs. 60 lakhs for 10% and Rs. 60 lakhs for 8%.
Sir, I want to give you an explanation.
Our yearly run rate is Rs. 3.5 crores now.
Next year, we'll definitely do Rs. 10 crores.
If not, at least Rs. 8 crores.
Right. Listen, Anupam.
Look. Let's do Rs. 60 lakhs for 10% equity
- and collaborate. - Why 10? Let's do 12%.
- Okay. - Here's an offer.
Rs. 60 lakhs for 12% equity.
If you do Rs. 8 crores next year,
you take back...
- Claw back. - 2%.
I need Rs. 60 lakhs for 5% equity.
I want to make a Rs. 200-crore business
- and also raise many subsequent rounds. - Very good.
Great line of thought.
We'll just discuss this.
[pensive music playing]
Final offer.
Fair and square.
Go ahead.
Rs. 60 lakhs for 6% equity. Sir, please do it.
Lucky 7... Lucky 7. Rs. 60 lakhs...
- Do one thing. - Yes.
Take another Rs. 6 lakhs.
- The valuation will be Rs. 10 crores. - Yes.
- Let's close it. - Done, that's great.
[tense music playing]
Rs. 66 lakhs...
- 7% equity. - 7%.
That's slightly less than Rs. 10 crores.
But it's okay...
- 6.67%. - No!
- Done! Yay! - Great.
- Priyanshi! Your daddy got it! - Nice.
First, congratulate him.
- Congratulations. - We got a deal.
- And thanks to you. - Thanks to you.
- Congratulations. - And...
Here's your cheque.
- Make sure he spends it wisely. - Yes.
[joyous music playing]
[camera shutter clicking]
'I really liked the episodes in Shark Tank Seasons 1 and 2.'
In Shark Tank 2...
I tried to manifest being on Shark Tank 3.
I didn't even know what the process was back then.
I manifested being on Shark Tank 4.
I made it through four rounds and now, we've got a cheque.
So, manifestation definitely works.
Sometimes, you make it later than sooner.
I would say you must not stop
unless your manifestation actualises.
[uptempo music playing]
[music concludes]
Welcome to ACKO Change Makers where we really welcome change,
whose lovely portrayal we saw on our Change Makers wall.
We empower change in deep-rooted cultural practices
using smart techniques.
Here with us is today's Change Maker Naitik.
- How are you, Naitik? - Yes, I'm very good. How are you?
- Brilliant pitch. - Thank you.
- Loved it. Loved the products as well. - Thank you.
What I loved best was
- how your daughter supported you. - Yes.
India does need the change you're bringing about.
If we look at the growth of any country,
- that happens through STEM. - Yes.
- Science, Technology, Engineering, Mathematics. - Yes.
I wish to ask you a question on behalf of our audience.
What changes can they bring in their day-to-day lives
to help them better their children's STEM skills?
- They should definitely buy our products. - Why not?
Secondly, we see
that kids are spending a lot of time on their screens.
- Kids are happy to see someone do something good. - Yes.
- But the real satisfaction lies in doing it yourself. - Nice.
I want to tell everyone
that instead of just seeing what others are doing good,
- you do good. - You do it too.
Doing and observing good, no matter how small it may be,
- brings you hundred times the experience and joy. - Right.
Sir, just as you've brought about a positive change,
similarly, ACKO too, with its range of revolutionary offerings,
is bringing change in the insurance landscape.
When buying a car,
you only need to pay for the car at the showroom and not insurance.
By doing so, you can save up to Rs. 36,000
provided you buy insurance from ACKO.
Sir, we wish to appreciate your change
and give you a special gift on behalf of ACKO and Shark Tank.
Thank you.
[joyous music playing]
[camera shutter clicking]
Congratulations!
Happy for you, brother.
Did someone have a baby? Who's getting married?
No. My friend won the Lenskart contest.
- Yes. - I know now.
You could win too.
Visit the Lenskart app or Lenskart.com
and participate in the contest.
Tell them what needs to be done.
The same thing you do in front of the screen.
This instant. I am too.
All right! All right...
'Gaon!' Wow! That's wonderful.
'Dumara, Tirhut, Champaran.'
Champaran is indigo farming! Mahatma Gandhi.
[theme music playing]
[theme music concludes]
Greetings, Sharks.
How are you?
- Good. - Great.
Sharks, in India, thousands of people
from the villages come to the cities harbouring dreams.
I too came to Delhi from Bihar with some dreams.
And I realised that you get everything in the cities
except the taste of village food.
Especially our food from Bihar.
Be it the 'litti chokha' your mother makes
- or the aroma of mutton cooked on a low flame. - Right.
Or be it everyone's favourite comfort food 'dal bhat bhujia'.
Every bite of it embodies a mother's love and sweetness.
Sharks, not just Bihar,
- but the food of every village represents its culture. - Yes.
Sharks, you too must crave the food from your village.
We can thank globalisation
- for putting pizzas and burgers on our plates... - Yes.
But they taste nothing like the food from our village.
To plug this gap,
we started Gaon in 2017,
a multi-brand food company
that serves authentic Indian delicacies
from selected states to people with pride.
Not only that, we are among the first few
who launched Bihari and Rajasthani food in Delhi NCR
We've delivered over 4 lakh orders until now.
Sharks, Gaon started as a single outlet
and today is a cloud kitchen and a multi-brand company.
Our aim is to serve small bite-sized variants of 'litti chokha'
as a healthy alternative to samosas and momo
- not just in India but the global market. - Whoa!
Sharks, we're not just a food business,
we're here to revolutionise Indian flavours and traditions.
All we want is there to be a Gaon in every Indian state
and our ask is Rs. 80 lakhs for 4% equity.
...now all that’s left is to add tempering!
- That's amazing! - Thank you!
- Did you bring Litti? - Yes.
- Yes, we have everything. - Litti Chokha! Wow! I love it!
Hello, sir.
[music playing]
- This is for you, Anupam. - Okay!
Thank you, brother! Mr. Alok!
Bajra Roti.
We have a beverage for you.
Hmm! The garlic chutney is too good.
- Did you make it? - Yes!
What's this?
This is Sattu Cooler.
Yeah!
- Thank you! - Shake it a little.
- Shake it! - Yeah!
- What's this? - A different variant of Litti.
- There are four types of Litti! - Four types! This is Aloo Litti.
This is our signature Sattu Litti.
This is Paneer Litti.
- Is there sattu in this one? - Yes.
- Sattu? - Yes.
[music playing]
Thank you! Thank you so much.
The food is delicious.
[music playing]
Alok, are these four Littis fried?
No, they are all roasted.
- Is it not fried? - It's not.
It's still so delicious.
The kadhi is irresistible.
- Thank you! - The food is good.
- Is this Kadhi a speciality of Bihar... - Thank you, sir.
Or is it a common dish?
No! It's Rajasthani Kadhi.
- Your Chokha is delicious. - Thank you, sir.
- Is this Lavang Latika sweet? - Yes.
It's our dessert.
This tastes different.
If you sip it a little later, the taste will hit you a little later.
It's high in protein.
- High in protein, sir. Yes. - You can have it as a health drink.
- We are trying to change villages into cities. - Yes.
- You said there is a village in every city. - Yes, sir.
You have a brilliant vision.
Share your story with us. It sounds intriguing.
- I studied in Champaran. - Okay.
When I came to Delhi, I wanted to do BTech.
I didn't have the courage to tell my dad that I won't pursue BTech.
Because I've always wanted to pursue entrepreneurship.
I have seen my dad
and the impact he has had on people.
What did your dad do?
He is a businessman.
But in the beginning, he started
by selling goods on a bicycle. That's how his journey unfolded.
- Okay! - I came here to do BTech in 2009.
But after coming here, I told him I won't do BTech.
'I want to pursue a BBA or MBA or step into entrepreneurship.'
We started Gaon as a dine-in restaurant.
Hold on! How did you start? You might have invested money.
After completing my MBA, I got a job.
There was a Paytm company called Little app.
- Okay! - I handled
- national partnerships there. - Okay.
While working, you opened a restaurant.
When did you open this restaurant?
In 2018.
How much did you invest?
We started with Rs. 9.5 lakhs.
Who invested? You or your dad?
I invested and took help from my friends and cousins.
- Where is this outlet? - It's a cloud kitchen now.
- And one was in East of Kailash. - Just to clarify,
you don't have a restaurant where you can sit and eat.
- Currently no. - You started a restaurant first
- before COVID. It shut down because of COVID. - Yes.
When you started again,
- you thought cloud kitchen was a better model. - Yes.
- You started a cloud kitchen. - Yes.
But it reads, 'Your gateway to authentic Indian delicacies.'
It doesn't specify the exact cuisine.
This is our longer vision.
We currently serve Bihari, Awadhi, and Rajasthani cuisines.
Yes!
When you opened the first outlet,
did you decide on any speciality?
Yes, we started with Bihari and Rajasthani cuisines.
You launched multi-cuisine.
- 7-8 Bihari items, 8-9 Rajasthani items. - Right!
- You had a 'thali' concept. - Yes, it was.
- But there is a restaurant in Delhi that serves Bihari food. - Yes.
It's expensive.
Yes!
- People go there to have Litti Chokha. - Yes.
There are people from Bihar in Delhi.
Why aren't there many restaurants in Delhi that serve Bihari food?
That time has arrived now. Now almost all brand houses,
be it Rebel Foods or
- there might be another brand in Shark Tank. - Which one?
- Dil Foods sells Bihari cuisine. - Dil Foods serves Bihari cuisine.
- Okay! - Basically, we've
created the awareness we had to.
People have seen that market.
- Now, everyone is entering Bihari cuisine. - Okay!
When we were in the market, we had to explain what this cuisine is.
For example, Champaran Handi.
We aim to make it the next Biryani of India.
And for Litti to become the new samosa.
What is your model?
We set up a kitchen with the vision
of creating 3-4 brands from the same space.
- Yes! - Correct?
- How many cloud kitchens do you have currently? - We have four.
- Are all four in Delhi NCR? - Yes, all four are in Delhi NCR.
What is the rating on Swiggy and Zomato?
They all have 4 or slightly more than 4.
- How much does Gaon have? - Gaon has 4 across the platform.
In the first year, we made Rs. 90 lakhs.
- That's in FY20-21. In FY21-22, it was 1.62 crores. - Okay.
- Then in the third year, it was Rs. 3.86 crores. - Not bad.
The year ended on 31st March.
We closed at Rs. 5.5 crores.
How much revenue did you generate in the last six months?
In the last six months, we've generated Rs. 3.08 crores in revenue.
- Last month? - Rs. 49 lakhs.
How much revenue do you expect this year? Around Rs. 8 crores?
We are targeting Rs. 7.5 crores even without raising extra funds
and continue operating as we are.
Tell us your unit economics.
Anupam, our COGS is 31%.
Our salaries are 10.5%.
- Okay! - Our rentals contribute to 6.5%.
Electricity and water is 3.5%.
And 2% is our marketing cost.
That's it?
3.5 is our packing cost.
We have a 15% discount.
Oh, did you apply it afterwards?
And our overall blended commission stands at 20%.
How much are you left with?
Currently, our net margin is 7%.
Very good.
What was the total sales last month?
Rs. 49 lakhs. How much are you left with?
- From last month's sales, only Rs. 1.5 lakhs is left. - Why?
The last three months have been
a slow period for any restaurant business.
Due to festivities, I believe.
But from November to January, it's the peak season.
If our sales are low, then on average
around Rs. 55 lakhs...
Even at this scale,
- you are able to make a profit. That's great. - We are profitable.
Because there is no cost, and salary expenses are not very high.
10% is salaries.
Even as they scale, if it's 10%...
That is the cook's salary, right?
No! It includes the salaries of people from the founding team.
- There are more people? Tell us in detail. - Who are they?
It's me. Recently, Shashank joined the cap table.
One of the co-founders.
How much equity does Shashank hold?
Shashank has 10%.
And you?
- I have 80% equity. - Who else?
The remaining 5% is ESOP
and there are two more co-founders who have 2.5% each.
- Co-founder. - Our brothers helped us in the initial stage
when we started Gaon in 2017.
How much will you make this year? Rs.6-Rs.8 crores?
We are targeting Rs. 7.5 crores
even without raising extra funds and continue operating as we are.
How many chefs do you currently have?
We have one head chef managing four kitchens.
There are four outlet chefs.
This is a specialised skill.
Getting the taste just right
and maintaining consistency across all outlets is a challenge.
If a chef leaves and joins another kitchen,
the unique taste goes with them.
How do you manage that?
We hire staff from the same region
where the food is prepared.
Suppose we are in Rajasthan, the cook is from Rajasthan.
As you rightly said, there is a manpower issue in this industry.
We have prepared backups for our backups.
Alok, I want to understand the process
- of your cloud kitchen. - Yes.
So that I get confidence
- that you will be able to scale like Rebel Foods. - Yes.
- For a really large pan-India brand. - Yes.
They've standardized everything
so that in every cloud kitchen,
right from the utensils used
to the cooking techniques,
they have transformed the process into a science
- with a well-defined SOP. - Yes.
So, how will you do that
for the food that is very regional
and brings the same taste
- across cloud kitchens in India? - Yes.
Ma'am, we've started working on this.
We already have SOP's for our businesses.
Ours is a hub-and-spoke model.
Whichever city we go to, we make a big kitchen.
We don't use freezing technology.
We believe in serving warm food.
In fact, our signature dish, Champaran Handi Mutton,
what we do is we are trying
to make it in an oven. This helps us scale efficiently
by reducing manual intervention.
And we can easily scale it with just two staff members
in any city.
We have a bigger vision when it comes to Litti.
Because Litti required a machine...
We are in discussions with a company in Gujarat
to develop automated machines that will produce bite-sized portions.
We want to change the narrative
so that people don't just ask for '6 momo with chutney'
but instead say, 'Give 6 littis with chutney.'
The consistency is missing.
- We will have automated machines in our main kitchen. - Very nice.
They will be round in size and...
Standardized size and taste.
Right! It will be the same.
With food businesses, we've noticed
that vendor selection, audit of qualities,
become very important when you want to scale it.
Our hero product, Champaran,
we are so particular with its sourcing
or whatever item we buy. For instance,
when it comes to goat meat,
we specifically procure Khasi, a tender version of goat meat.
It gets expensive for us because we don't want to compromise on quality.
Generally, for every vendor selection we've made,
we have multiple layers of backups in place.
I know Sagar of Wow! Momo.
Before launching
any momo,
they follow a scientific process
to determine the stuffing.
- Litti is your hero product, which you aim to take global. - Yes.
- Which I am very excited about. - Yes.
How do you decide which stuffing will appeal
to people across India and globally,
rather than just those from Bihar?
We've been developing this product for the past nine months
and have even had potential investors try it.
After that, we call them and ask how they like it.
We focus more on the ones that receive better feedback
and we have four more.
We made 28 items, but we couldn't bring them all.
- So, you have fillings of a total of 9 littis. - Yes.
Other than that, we can infuse them.
- Litti Pau, Litti Chaat. - Oh, that way.
- Basically our snacks brand, Tirhut... - Very good.
It will be more of a QSR model.
This model because... You mentioned Wow! Momo.
They are doing a business of Rs. 400 crores.
But on the outlet level, it is not beyond Rs. 6 lakhs.
We have two brands that have already...
With all due respect to Wow! Momo.
We are already doing a business of around Rs. 16 lakhs.
Even if you exclude Champaran and Gaon,
we are already above that threshold
compared to big brands.
Do you want to build a Litti-focused company,
a cloud kitchen brand,
or an authentic regional cuisine brand?
We want to make a multi-brand food company.
Looking at the growth of your revenue,
in the last three years,
your revenue was Rs. 3.8 crores, Rs. 5.5 crores and 7.5 crores.
- If I only look at Champaran's sales... - Yes!
How much would that be?
The split is 40-60 split. 60% is Gaon and 40% is Champaran.
Has this ratio remained consistent over the past three years?
Is Champaran growing at the same rate?
Yes! Gaon has been around longer, so it has a stronger brand recall.
Our repeat rate with Gaon is stable
and the same applies to Champaran.
If I look at one of your cloud kitchens,
which one is the oldest?
It's DLF Phase 1.
- I am not sure of the exact... - Approximately!
The sales were approximately...
Just Gaon, right?
Any will do.
- Tell me about all the cloud kitchens.- I'll do that.
- From Rs. 90 lakhs to almost Rs. 2 crores in 3 years. - 3 years.
According to you, how much will it grow next year?
My ideal number should be Rs. 30 lakhs for one outlet.
This means that if it reaches Rs. 3.6 crores...
That is ideal for you, but will it reach that level in the next 2 years?
Yes, we will reach that level in two years.
- Your rent is low. It's around Rs. 70,000. - Yes.
- It's Rs. 50,000... - I've never heard of making sales
of Rs 30 lakhs where the rent is so low.
We will do it, ma'am.
- How? - Currently, we make around Rs. 17 lakhs. We will do it.
Your average is around Rs. 12 lakhs.
- Yes, around Rs. 12 lakhs. Yes. - It's Rs. 12 lakhs per centre.
These are the sales from 3-4 brands.
- So, growth... - Form 2 brands, ma'am.
You said your revenue is Rs. 50 lakhs on average.
That is after or before the discount.
That's before the discount.
- The discount was applied after this. - Yes.
- Okay! So, it's about Rs. 45 lakhs post-discount. - Yes.
After deducting the discount and commission, the net revenue
- decreases by around 20%-25%. - Yes.
There is one thing that's bothering me.
When we start a business,
we start with one business or one brand
because there are many variables in a business.
What made you think that you should start four brands?
We haven't sourced anything from outside.
We initially focused on Gaon and our hero dish was Champaran meat.
It contributed to around 45% of our sales.
Now, we have metrics from Swiggy and Zomato.
We know that when people visit
and see a lengthy menu, they get confused.
And the menu-to-cart ratio and cart-to-order ratio declined.
When the menu was limited, the vision behind building Champaran
was because we couldn't open Gaon due to more CapEx,
we can tie up with any partner for Champaran.
By transitioning to oven-based preparation,
we could establish outlets anywhere and scale efficiently.
Similarly, with Tirhut,
we perfected Litti.
From Litti, the idea evolved into the creation of a new snack brand.
We didn't outsource anything. It is complimenting our business.
And it is essentially helping us reduce wastage.
The game you are playing is the game of shelf space.
For example, just like SEO in Google,
a single search should display four entries instead of just one.
That's why you are capturing shelf space
in food marketplaces by launching different brands,
ensuring each has a unique identity.
If someone searches for Litti,
out of 10 entries, at least 3 should feature your brand
under the names Gaon,
- Champaran and Tirhut. - You can say that.
- Is that your game? - Yes.
I think you are headed towards standardization.
You don't know how that can be done.
In a real sense, you have no idea.
Second, you have not expanded beyond Delhi yet.
- Yes. - So it's uncertain whether
you can effectively cater to
and manage operations in other cities.
Because of these two reasons, I am out.
- But I wish you all the best. - Thank you, Aman.
Alok,
your thinking is 10x.
That's great.
My thinking was just like yours
15 years ago.
My company's name was Enable India.
I used to say we will enable India and people used to laugh at me.
But I made a huge mistake in that.
You are also making the same mistake.
Along with Lenskart,
I started Watchkart, Bagskart and Jewelskart.
But destiny...
Within a year we understood
that if we want to do 10x, we need to focus.
I would advise you to focus on one thing.
It could be Litti that becomes huge. That's what I understand
from what Namita said.
It will grow big when you focus on the smallest details,
- create differentiation, and scale effectively. - We'll do that.
I am out of this for now.
But I genuinely think you can make it big with your vision.
- We will. - Best of luck!
Thank you!
So, Alok! What I've understood
is that these are all similar types of Indian delicacies,
- but their branding is different. - Yes.
I doubt there will be
a significant difference in the food across
- Dumara, Champaran, and Gaon. - Yes.
I don't look at it as a different brand but as a different product.
- Yes. - I believe your scalability is your cloud kitchen economics.
Your scalability lies in the fact that you spend only 2% on marketing,
which is rare among most cloud kitchen companies I've seen.
Based purely on your positioning,
pricing and cloud kitchen economics,
you have managed to scale profitably up to this point.
I think your seven-year journey,
filled with trials, failures, and pivots,
has given you these small learnings.
Like when you say, 'I have a backup for my backup.'
Even the equity
from your first restaurant, where initial investors
and partners had a stake, even they have equity.
I believe you have a strong entrepreneurial instinct.
So, I will give you an offer.
- Wow! - Thank you!
Rs. 40 lakhs for 4% equity.
I'll also offer you Rs. 40 lakhs in debt
at 10% interest for three years.
to take something regional and make it global.
And every question I asked on scaling,
be it SOPs,
vendor selection.
How do you decide which product to launch?
For every question you answered fast
and gave specific answers.
- So, I really like that. - Thank you!
As an entrepreneur, fantastic!
- Thank you! - You are introducing regional flavour.
It is the pride of India.
To take Litti global, and that is very exciting.
I'll match Vineeta's offer with you.
I will be direct.
- You asked for 4%, right? - Yes, 4%.
- She said Rs. 40 lakhs for 4%. - Yes.
- That's Rs. 80 lakhs for 8%. - Yes.
- I think it can get better. - Yes.
So, Rs. 80 lakhs for 7% is the fair offer.
[music playing]
Vineeta and Namita, do you want to change your offer?
No, our offers will be the same.
Okay, you have three offers. Decide and let us know.
- Thank you, Shark! Thank you for the offer. - I'm very happy for you.
- Thank you! - Go and think.
[music playing]
How predictable are you!
I am not trying to be unpredictable.
'Hello!'
Shashank, we have received three offers.
Namita, Vineeta and you should join.
Sharks, we want all three of you together.
Our counter for all three of you is Rs. 80 lakhs for 5%.
and then we can make an offer.
[laughing]
If you want multiple Sharks, you need to give more equity.
My offer won't change, It will be just me for the same offer.
Rs. 40 lakhs for 4%, Rs. 40 lakhs debt at 9% for 3 years.
Rs. 80 lakhs for 8%,
Vineeta and I.
Rs. 40 lakhs 4%, Rs. 80 lakhs 8%.
Thank you, Namita ma'am, for your offer.
But we would like to go with two Sharks.
[music playing]
Thank you, Sharks! Thank you!
My grandparents always dreamed of seeing my name
in a newspaper.
This was my first time on TV. I was nervous and my legs were trembling.
I am excited.
In our village, when someone achieves something,
it inspires others to do the same.
Entrepreneurship is something that is not yet popular there.
If even one person accomplishes something,
others are sure to follow.
If this works out,
it will be like a movement in our village.
Each moment is really significant.
Alok, welcome to the PokerBaazi Zone,
- where you hold the cards. - Thank you!
A sequence is made according to your poker hand strength.
We call that sequence hand rankings. This is how it looks.
Your highest winning hand is Royal Flush.
- Right! - So, Quality and Assurance
will be our second priority, which is here.
How will procurement be done?
Sattu comes from Bihar.
- Nice! - You get it in the market,
but the authentic powdered sattu
has spiciness that you get only if you get it from Bihar.
So, Operations and Logistics help us procure our products
- and it also covers delivery. - Right!
- Next comes Marketing. - Okay!
And because we've made so much,
and out in a lot of hard work
- and investment. - Sales!
- Sales comes after this. - Okay.
Sales! Sales is the fifth one.
These are the five essential rankings
Apply your winning strategy, and create your winning hand.
Download the PokerBaazi app now.
'Shark Tank India, co-presented by ACKO Insurance,
'PokerBaazi and Swiggy Instamart.'
'Co-powered by Adani and Jaquar Bath and Light.'
'And partners, Rayzon Solar, ICICI Direct, '
'Lenskart and Sofy.'
[theme music playing]
- Greetings, Sharks! - Greetings, Sharks!
We thought it was going to be very cold here,
so we wrapped a shawl around us.
But do you know what? The same shawl that keeps us warm
- will keep us cool in summer. - Wow!
Hi, Sharks!
We are from the small village of Kdonghulu
in the Ri Bhoi district of Meghalaya.
We, mother and daughter, are the founders of Eriweave.
[music playing]
At Eriweave, we are dedicated
to first bring sustainable economic development to our community
by crafting
Eri silk yarn and organically dyed handwoven Eri silk fabric
from the locally sourced Eri silk cocoon.
Eri silk is an all-weather, eco-friendly fabric
we also have scarves, shawls and yardage fabric too.
We achieved this
through our old-aged traditional
handwoven art
where we used natural fibres and organic dye.
I learnt this skill from my mother.
I learnt it from my mother too.
In our community, in the past,
women used to spin the yarn.
But over the years,
this beautiful tradition that brings livelihood
is dyeing.
But why, Sharks?
The answer is,
there is a gap between the market and our poor artisans.
So, Eriweave was founded to bridge this gap.
Since our inception in 2019,
and with a seed capital of only Rs. 50,000,
we have already
positively impacted the livelihood of 100 families
Shark, I have one question for you.
Did you hear of Eri silk before this?
- No! - Exactly!
Very few people know that such a wonderful fabric exists.
But at Eriweave, we will change this by bringing Eri silk to everyone.
And for this, we seek your support
with an investment of Rs. 20 lakhs at 12% equity.
to pan-India and the global audience.
At Eriweave, we make every weave count.
- Thank you! - Thank you!
It was wonderful to hear your pitch.
So excited to see Meghalaya
represented on Shark Tank.
Tell us a little bit about Meghalaya.
Meghalaya is famous for tourism because of its climate.
The climate is cool.
And Shillong is famous for its music
and also for its Eri silk.
Awesome!
How is the startup culture over there?
- In Meghalaya. - Ten years ago, the ecosystem
wasn't supportive.
But then the government took the initiative.
I am a first-generation entrepreneur.
I started from scratch.
But then, I am determined to learn
and I got myself associated with entrepreneurs.
And I got myself
incubated with the IIM Kolkata Innovation Park
and other incubation centres.
So, this is how we learn.
Oh, very nice.
It's great to hear that you have
opportunities for incubation and mentoring
- and that it's all over India. That's wonderful. - Thank you!
And of course, we forgot to mention,
you are looking gorgeous.
- Thank you! - Thank you!
Tell us a little bit about the outfit that you're wearing.
It's from the Jaintia tribe.
And this is from the Khasi tribe.
Okay!
They look similar.
- Yes, but the way we wear it... - Oh!
Is different.
Are you okay? You had some...
- I had an accident, sir. - Oh!
Is that recent or...
- Five months ago, sir. - Oh, this is recent. Okay!
And this stole,
is it a part of Meghalaya's culture
or a tribe? Or is it just
Eriweave's culture?
Our great-grandmother used to make this shawl.
[music playing]
- Is this a shawl? - No, it's a scarf.
Okay!
Oh, nice.
I like this one.
Thank you very much.
- Thank you! - Thank you!
It's very beautiful.
The quality is great.
- Thank you, sir. Thank you so much. - This, you said
- keeps you cool in the summer... - Yes!
- And warm in the winter. - In winter.
- Yes, sir. - Oh wow!
It's very soft.
It is not poking you! It normally pokes you.
This feels like the woven texture of wool
and not silk.
Yes, it will have a quality that falls between wool and cotton.
How much is this for?
That is for Rs. 1,700, sir.
Not bad!
And it's a very good gift. It makes for a good gift.
Why are you so passionate about this business?
I've gone through a tough time.
I had to struggle financially.
In what way? Can you elaborate a little?
Sir, I got married at the young age of 20.
My marriage didn't go well.
So, I got divorced.
Oh!
And then I had to take care of four daughters.
- Four daughters? - Yes!
- She's the third one. - I am the third child.
Okay!
Besides my teaching job,
I had to earn extra income.
How did you do that?
By weaving.
Because I know the skill of weaving.
Then I started the awareness among our people.
Giving awareness to our women.
Why not spin the yarn and earn something?
Because I know the value of Rs. 100.
So, I started the movement called 'Kamai Haba Shongkai'.
That means Earning in Leisure Time.
They earn Rs. 50-Rs. 100 a day.
'and at other times, the market prices fall,'
'causing great losses for our farmers.'
'Weaving is something that was passed down to us.'
'Back in my grandma's and my mother's time,
'people used to spin the yarn'
'and also do the weaving.'
[music playing]
'But in my time, this tradition had died.'
'So, why not revive it?'
[music playing]
'The idea came to me'
'when I got an order to weave 50 scarves.'
'Here, in our area, we can produce'
'the Eri silk cocoon'
'which is the raw material for the Eri silk yarn and fabric.'
[music playing]
The Eri silk cocoon
differs from other silks
in how we produce the yarn.
Other silks
are boiled with the worm. So, the worm dies.
But what do we do in Eri silk?
The worm is allowed to leave the cocoon.
Then, we boil the cocoon,
and extract the yarn out of the cocoon.
[inspirational music playing]
We extract the yarn gently
because we don't kill the worm
with the cocoon.
So that's why it is also called the peace silk.
It starts with rearing.
One cycle of rearing the worm,
in which it produces cocoons, will take a month.
We boil that cocoon.
After boiling, we extract the yarn.
From there, after extracting the yarn,
we dye that yarn
with organic ingredients.
So, after dyeing, it goes for weaving.
[inspirational music playing]
After the weaving, we sell
the finished products in the market.
The process here is slow, time-consuming
and labour-intensive.
Our business has impacted not only
our area of operation but also outside areas.
We feel proud
to have this tradition. We want to take
this tradition of ours to the world,
especially when the tradition is giving livelihood to our people.
[inspirational music playing]
I want to say something.
There is something very special about this product of yours.
It's very cosy.
I wore it first but took it off. Now, I feel like wearing it again.
- Yes. - Right?
So, it has warmth,
which is comforting.
Where do you sell this?
80 per cent of
our sales are B2B sales to the retailers in our city.
- In Shillong? - In Shillong, yes.
Okay.
- But do others make these shawls, too, or is it only you? - Yes, sir.
- There are others in Meghalaya. - Do more people make this? - Yes.
How big is the business now?
In the three years of our operation, we've only made Rs 45 lakhs, sir.
That's not only. It's a lot of money.
How much was the sale last year?
Rs 18 lakhs, sir.
- 18 lakhs. - That's wonderful.
How much did you sell last month?
Last month's sale was Rs 2.2 lakhs, sir.
Out of this Rs 2.2 lakhs,
how much went to these 100 women?
How much profit did you have?
To be honest,
the business we are in
- is challenging to make a lot of profit. - That's right.
But we look at the social empowerment it's providing.
- So, sir, 60 per cent will go to our artisans. - Okay.
Then, 20 per cent goes to our operations.
The rest 20 per cent is profit.
So, you still saved Rs 40,000
- as profit. - Yes, sir.
You paid out almost 1.5 lakhs
- to those 100 women. - Yes, sir.
- That is quite commendable. I salute you. - Thank you, sir.
Who decides the designs?
Till now, I have been looking into the designs and production.
That is why we need a team.
How do you divide your time between teaching and being an entrepreneur?
I believe in prioritising and time management. If you can
manage time, you can do anything.
- Wow! Impressive! - Superb!
Why are you not raising some grants for this business?
If you secure
funding for this business,
profit pressures will increase significantly.
Yes. We have applied for the grant.
Then, we got incubated
in IIM Kolkata and PRIME Meghalaya.
That is a startup hub in Meghalaya.
We got a grant of Rs 5 lakhs
after 2019.
Also, sir, we have
a venture fund in that field.
Is that venture fund also a grant?
No, sir. It's a loan.
I mean that our 20 per cent profit is
being used to repay the loan.
How much loan did you take?
Rs 35 lakhs, sir.
Is there an interest on the amount?
It's on 12 per cent interest.
How do you intend to pay back that loan in the future?
Sorry. Before that, how do you pay the interest on that loan
if you make Rs 40,000 a month?
Your annual outgoing for the interest
- is almost Rs 4 lakhs. - Yes, Rs 4.2 lakhs.
So, that means
all the money you make goes towards the interest.
Yes, sir. We just broke even if you calculate all that
- till now. - Okay.
could spend something on the marketing
to make a scaled-up sale,
we can make more revenue.
It is unclear
whether you will make money from that
or lose it.
Sometimes, you have to lose some money
to create demand in such businesses
- to make money. - Yes.
But today, you don't have any money to lose.
Yes, sir.
If you take equity or more debt
and lose that money, it will be a huge risk
because you won't be able to pay your loan, either.
- Yes, sir. You are right. - Yeah.
But we have to take the risk.
I have a suggestion, Iaishah.
You told us that you sell this for Rs 1700.
Amazon
and your website,
- you could sell it to the consumer for Rs 3500. - Yes.
Is that your plan? To build a brand
- and sell it directly to the consumers? - Yes, ma'am.
Okay. But who will do the process of putting it online
and making a web store? All of this requires effort.
We have hired that team.
Okay. Is that not something you can do, Lebaini?
That is why I am going for an MBA
- to do it all by myself. But not for now, ma'am. - Okay.
You've not tried listing it on Amazon or other websites.
Yes, ma'am. We find listing it difficult.
I tried to list it on Amazon.
What do you find difficult?
There are so many things
to do for listing
that I always get confused.
- That's why I gave up. - Okay.
Firstly, I will definitely be
a customer of your product.
Thank you, sir.
It is a special product.
Right now, you should be deciding
the direction of your business
But you're running it as a profitable enterprise.
So, both these things
can work together, but you need to be clear.
That clarity is not evident
because of the grant and loan you have taken.
I am unsure if you can achieve
your goal with the same intensity
with all this happening in the background.
That is why I am out.
Thank you, sir. Noted.
Thank you. Best of luck.
Creating Eri silk as a phenomenon
will require a lot of marketing and plenty of money.
I'm not ready to spend so much money
on promoting this as a category.
- Thank you, sir. - Thank you, sir.
Iaishah and Lebaini,
we all love the product you've created.
When it airs on Shark Tank,
several people will want to buy it.
But they won't be able to because it's not available online.
If I want to make Eriweave
a global brand that reaches
I need to figure out
how to create a simple website,
an Instagram page that talks about my story,
and an Amazon listing.
The moment you do that
automatically, I can promise you
that within two or three days, you will earn more than
your Rs 20 lakh sale right now.
So, right now,
I cannot partner with you as an investor.
But if there are any roadblocks, you can come to my office
in Mumbai for a week
until everything gets listed.
I'll be happy to provide you with all of that support.
Okay? Good luck.
- Thank you so much. - Thank you, ma'am.
Building our office and infrastructure.
You spent Rs 35 lakhs on an office. Being a startup,
shouldn't you have worked
from any small place, maybe from your home?
Sir, we needed a training centre.
So, we have a training centre.
But didn't you keep any money or room
to grow the business?
We spent Rs 25 lakhs on infrastructure and machines.
We've kept Rs 10 lakhs as working capital.
- But do you still have Rs 10 lakhs? - Yes, sir.
Okay. Understood.
I don't see much of a business right now.
Okay, sir.
But I also believe that everyone
deserves an opportunity.
We're too proud of ourselves
because we built a business.
But the truth is we achieved that because we had an opportunity.
Either we had an education
because our parents could afford it,
or somebody had a mentor,
or a VC backed somebody.
But a lot of people don't have the opportunity.
How will you prove yourself without getting a chance?
- Right. - Sometimes, that is the fundamental difference
between somebody successful and one who is not.
I'll give you an offer.
Out of Rs 20 lakhs, I will give you Rs 10 lakhs as interest-free debt.
You can retire the Rs 10 lakhs you have from Rs 35 lakhs.
Okay? Once you have less outgo,
you can reinvest money in your business.
I will give you the remaining Rs 10 lakhs for 10 per cent.
Iaishah and Lebaini,
like my co-Shark said, there are many challenges.
You have a big debt.
Also, your business sense
is less regarding understanding,
listing of Amazon, brand-building,
scaling...
It's a natural response to say I am out.
So, I will give you an offer.
I think today's episode can be an example for numerous women.
[sentimental music playing]
I hope those are tears of joy.
- Yes, ma'am. - Yeah?
You're a role model
to numerous women out there.
We'll build Amazon and all that together.
Okay?
I will give you what you asked for.
I will give you Rs 20 lakhs for 12 per cent
because I want people like you to show the rest of the country
that a lot can happen
in small villages
and a lot can be done
by women.
Wow! Superb!
I'll join you, Namita, if you like.
- I would love that, Anupam. - Okay.
- All right. The deal is final. - The deal is final.
Let's do it, Anupam.
Yes, ma'am.
[triumphant music playing]
- I'm so proud of you. - Thank you.
Lovely!
[triumphant music playing]
- Thank you. - Thank you.
Thank you, Shark.
- Thank you, bye. Have fun. Enjoy. - Congratulations.
So cute!
Look at that.
We are happy to get the deal.
Most importantly,
they also promised us.
Vineeta ma'am promised
to teach her.
I will call will be our artisans.
I'm sure they will dance out of excitement
upon knowing it now.
- Team Eriweave, congratulations! - Thank you.
Have you come to Mumbai for the first time?
- Yes. This is our second time. - Second time?
I know that you have come from Meghalaya.
I know you didn't get time to try local Mumbai food.
So, I have ordered 'vada pav' for you.
I've ordered a sauce
and the 'pav'.
'Vada' will be made freshly, and I want you to try it.
- It's a gift from me to you. - That's so cute. Thank you.
I know you don't have time.
I ordered it from Swiggy Instamart, and it came in ten minutes.
I will prepare the 'vada pav' for you
with my hands. So, I will keep this.
What are your plans? Do you plan to do something?
Will you explore Mumbai?
We want to but don't have time. We're leaving tomorrow.
- Are you leaving tomorrow? - Yes!
Don't worry. If you need anything
or want to buy gifts for your friends and family,
you can even get souvenirs from Swiggy Instamart.
They will come in ten minutes.
- Do that, and congratulations. - Yes.
It was a wholesome pitch. I loved it a lot.
- You can hold this. - Thank you so much.
Thank you so much.
Guys, I will eat 'vada pav' with them now. You, too, create your vibe
and order anything from Swiggy Instamart.
You can find anything there. We got it in ten minutes here.
and she is the ultimate boss in every way possible.
Vineeta, the co-founder of SUGAR Cosmetics.
So, Anishka Adukia
has asked today's question. She is from Jaisalmer.
There are two sides of every coin.
Similarly, every good thing has a flip side to it.
The popularity we've got because of Shark Tank
has definitely benefited us.
When I am at the airport,
young girls come to me and say,
'I want to grow up and become an entrepreneur.'
I didn't have such role models while growing up.
I didn't know I could do it.
That is why this journey was more challenging for me.
For me, the ability to be a role model,
- especially to young girls, is a major privilege. - Yeah.
This popularity has helped me
become a much stronger founder
because I am able to handle criticism,
a difficult skill to acquire otherwise.
Thank you so much for sharing that
and being honest and vulnerable with us.
I am still here for you all. We'll meet again with
a new question and a new Shark on Ask the Shark.