[clanking]
[table screeching]
[music playing]
[music concludes]
[theme music playing]
[theme music concludes]
Sharks, what India needs today is a power-up.
Over 80% of Indians are deficient in micronutrients.
protein, calcium and provitamin A.
Why isn't our food able to meet our body's nutritional requirements?
After the Green Revolution,
we seem to have left nutrition behind.
Imagine if we got all the essential nutrients
from our food itself
without having to make any dietary changes.
Isn't that a power-up?
Greetings, Sharks.
Greenday is India's first
and premier biofortified food-focused company.
and protein at the agricultural level,
providing the common man, who consumes roti and rice,
with all the required nutrients in sufficient quantities.
We provide the farmers with those biofortified seeds.
And not just that,
we even buy their nutritious yield from the farmers
and sell it through our brand Better Nutrition.
and we're powering up nutrition at every level.
Greenday's 15,000 farmers
and 100 rural microentrepreneurs
Not only are they making profits
but are also fighting serious issues like anaemia
caused by the deficiency of micronutrients
in their rural communities.
Sharks,
nutrition is everybody's right.
We want our food to not just satiate our hunger
but provide our body with nutrition as well.
Our ask is
Rs. 60 lakhs in exchange for 1% equity in our company.
Come on, Sharks.
with better seeds and nutrition.
- Aishwarya and Prateek! - Yes.
- Welcome to Shark Tank Season 4. - Thank you.
It feels great to hear that 15,000 farmers and 100 micro-entrepreneurs
are associated with you.
We'd like to hear more about that.
First, tell us how you know each other
and what brought you to this field.
From Shri Ram College of Commerce, Delhi University,
- I got a degree in Economics Honours. - Very nice.
From Indian Institute of Management Ahmedabad,
Oh, you're way too junior compared to me.
[all laugh]
- I'm from the 2007 batch. - Yes.
I took up a job after that in Strategy& as a consultant.
I always wanted
the work I do should to contribute to nation-building.
I had a good education
and I wanted my work to create a profound impact.
I chose the agritech sector.
I was doing R&D in 2018-19,
that's when I met Aishwarya.
I did my graduation in Food Science & Nutrition
from IHM Mumbai.
Then I worked as a chef for some time at Oberoi's.
I did my MBA. I was working in ICICI Securities.
- All thanks to Anupam, we met after that. - Whoa!
- Oh, wow! - [laughs]
All thanks to Anupam or Shaadi.com?
- Shaadi.com. - Shaadi.com.
When did you get married?
- In December 2018. - 20...
2018. And when did you start this business?
We were in the R&D phase in 2018-19.
We began commercialising in January 2020.
We brought the Greenday model into the market
and began working with farmers.
The period during 2018, 2020 and 2022,
we lived in Sitapur...
It's a village near Lucknow.
We lived there for 2.5 years with the farmers in the villages.
We worked with them and learned so much.
- You both lived in a village in Sitapur. - Yes.
- As in, you were based out of there for 2 years. - 2.5 years.
- 2.5 years! - Yes.
Did this idea come to you both after your marriage
that you need to
No. He was already working on nutrient-dense farming.
He was researching that.
Then we got married
and then we made a conscious decision
to go and stay at the farms in the village.
It mustn't have been an easy decision for a husband and wife.
If the husband wants to go, the wife might not want to.
He convinced me.
But you were initially hesitant.
- A year into our marriage... - Well,
he was nowhere close to a village in Strategy&.
- Right. - Yes.
I feel that our genetics are definitely based on rural areas.
And somewhere, we naturally gravitate.
The village atmosphere is very attractive.
And growing up too,
I had a willingness to visit the villages,
experience the environment there.
We'd hear things about our land and fields in the movies.
When we discussed things, we thought we should take this step.
There will definitely be learning
and it'll be a once-in-a-lifetime experience.
It was an exciting challenge, so we took it up.
In comparison to the life in Lucknow,
village life was very slow.
There was no infrastructure.
We stayed in a warehouse
- which we converted into a room cum office. - Oh!
We lived next to the fields.
We could interact with the farmers more.
We could sit and talk to them.
And by then, you had enough earnings
- to sustain for the next few years... - No. We had no savings.
- No... - You were in consulting which is usually well-paying.
Yes. I worked for a year, Peyush.
We had very limited savings
which obviously we invested into starting the business.
However, there was an intent...
When we lived in the rural areas,
along with the learning,
our cost of living also drastically came down.
In fact, we got by in Rs. 20,000-25,000 a month.
- Groceries and everything else. - Less than that.
We got by in less than that.
What did your parents say?
- They were very happy. - They were happy!
- "Go and learn." - Yes.
There was a calling in me, a very strong calling.
That I had to move towards something nation-building
and a start-up.
And agritech was the sector that I chose.
I think it has been a very rewarding journey over the last...
Let me tell you the fact.
You went on an extended honeymoon.
[all laugh]
Right? You went away for two years.
- Food should be your medicine... - Yes.
To take care of all your health needs.
I think that's a brilliant point.
You went in that direction, that's wonderful.
- But one-fourth of the world's undernourished live in India. - Yes.
Okay? So, I'm very happy...
I'm from Ahmedabad and...
People with your background and intellect are going to villages,
- understanding the issues and starting this. - Yes.
Help me understand something. I love your logo by the way.
- Green is always associated with health. - Yes.
So, I love the colour
and I love the 'begins with better seeds'.
Tell me a little bit more about
how you will bring about this health revolution
through your seeds.
Explain the customer journey.
- Can I just pause for a second? - Yes.
- Sharks, would you like to taste something? - Yes!
- Oh, that's the best! - Yes, please.
The best start to the customer journey.
[light-hearted music playing]
Oh, wow! You brought an entire meal!
These are made out of all our products.
This looks so healthy too.
- Wheat 'laddoo'! Wow! - Anupam.
I'm so excited.
- You're lactose-intolerant. - Yes.
- So, we've made 'masala bhat' instead of curd rice. - Okay.
- Perfect. - And these cookies
- are lactose-free. - Thank you.
Love it! Wheat 'laddoo'!
- Thank you. - Stuffed paratha.
This 'laddoo' has ghee.
- I eat loads of ghee. - Okay, then.
I love the presentation.
The wheat 'laddoo' is yum.
It has wheat, jaggery and ghee. That's it.
Wow! I love it.
We selected such varieties...
Seed selection is one of the important areas.
They are very high in nutrition.
Zinc, iron, protein, calcium, provitamin A...
Their levels and enhanced.
Normal flour has less than 1 mg of zinc
- And vitamins will be complete. - Yes.
At least 50%.
The rest 50% can be obtained from other complementary foods or fruits.
- You can get it from there. - Got it.
I just went and saw your packaging.
By the way, congrats on getting PV Sindhu.
Thank you so much.
You know, one important question.
I've read that many FMCG companies
now sell immunity flour and cholesterol-free ghee.
It's almost like a done thing.
So, how do you deal with that?
The category of staples
is largely an under-innovated category.
Fortified foods are available in the market already,
but the addition was through an artificial method.
However, the future of farming is biofortification.
Farmers can naturally create this in their fields.
There are 3 to 4 interventions today that our company deploys.
The first is seed innovation.
Then comes soil fortification.
When the plant grows,
you fortify its ecosystem.
The grain that finally develops is naturally rich in nutrition.
- Coming to your supply chain of seed fortification. - Yes.
You say others do it at the milling stage
- whereas you do it at the seed stage. - Yes.
Right? Does this change a health benefit
or is it just a cool thing that this is bio and that's non-bio?
When we want to provide nutrition to the body,
that's possible through two mechanisms.
You could consume nutrients through a natural or an artificial source.
Artificial is not good for the consumer story
and has multiple health disadvantages.
- For example... - You do it artificially too!
At the seed level.
No. It's a 100% natural process.
It's just that we chose a seed
which is better for its nutritional properties.
We offer a variety-specific flour.
The main value addition of that variety
is its superior nutritional value.
- And 100% naturally. - So, you are not
- making any addition to the seed. - None.
- You merely take a certain breed of seed... - Yes.
And pack and sell it.
We're providing enough nutrients in the soil ecosystem
so that when the seed is growing into a plant,
it can draw enough nutrition from the soil.
Do you provide that soil?
We provide the nutrients in the soil.
Coming to Greenday.
Is it sold on the website or in stores as well?
We've created a network of almost 100 micro-entrepreneurs.
- Offline? - Yes, offline.
Got it, thank you.
Prateek, you didn't mention an important fact.
- We've met before. - Yes.
- We were this close to investing in you. - Yes.
We were very keen,
but there were some gaps in terms of understanding.
This two-sided business you were running,
you were providing the seeds
- as well as procuring them and building a B2C brand too. - Yes.
A year ago, it wasn't clear how this would play out
and which part of it would become the main business.
- I think it was a work in progress back then. - Right.
- I guess we met in October 2023. - Yes.
You were very impressive.
I think one of the best founders I've met in the last one or two years.
- Oh, wow! - Thank you so much, Kunal.
Perhaps, what didn't happen last year might happen today.
Thank you so much, Kunal. We look forward to it.
When we met, our brand had just gone into the testing phase.
If we look at our journey,
we definitely wanted to solve a consumer-education front
very aggressively.
We saw some major achievements in that phase.
We associated with Olympic medallist PV Sindhu.
She became a user of our product
as well as invested in our company,
and even became the brand ambassador of our company.
Along with that, MasterChef Mrs. Pankaj Bhadouria
became an investor in the company on a similar model.
She's our brand ambassador.
So, the best of the sports world and the culinary world,
these two women are now leading the consumer education bit
for our company.
From years 2020 to 2024,
our main revenue came from selling seeds to farmers.
That's how we touched a mark of Rs. 10.3 crores.
- Net revenue? - Net revenue.
This year, we're on our way to hit a turnover of Rs. 14 crores.
and our FMCG has generated a revenue of Rs. 70 lakhs this year,
which will go to Rs. 1.5 crores.
- Flour is Rs. 100 per kg. - Okay.
- Rice is Rs. 200 per kg. - Okay.
- Multigrain is Rs. 135. - Okay.
Broken wheat is Rs. 115.
Pearl millet is around Rs. 120.
Finger millet is a bit expensive. It's Rs. 155 per kg.
If we were to buy regular grains that are non-fortified,
what are their prices in comparison?
- Let's take flour as the benchmark. - Okay.
is similar to the bulk category of Rs. 40,
we buy at almost the same price point.
So, in the long run,
there's a 100% scope to bring the prices down
- and sell it to the masses. - Yes.
This is a category whose revenue won't stop at Rs. 300 to 400 crores.
We could create a brand that's up to Rs. 10,000 crores
over the next 15 years of the journey.
You're right,
but why haven't you already done it?
You're market skimming with a 20% premium now.
When we sell on any quick commerce player today,
our gross profitability comes to around 40%
and the net profit comes to 20%.
Tell us the gross and net profits for both Greenday
and Better Nutrition individually.
In our Better Nutrition brand,
our CM1 comes to 40%.
Our COGS is 32%,
our forward logistics is 8%,
and our channel margins are 20%.
That accounts for 60%. Our CM1 is 40%.
Our customer acquisition cost is 20%.
20% is our net profit.
5% is taxed and we're left with 15%.
We're at this price point now.
We've just entered, so we can't bargain in quick commerce.
- To maintain profitability... - Yes.
- You've priced it at a premium. - Yes.
That is one point. Here's the second.
We did beta testing where we sold our products at a lower price.
The feedback we got from the market was that the product is good,
- but why is it priced so low? - Right.
- It's consumer psychology. - Yes, right.
So that the consumer understands why this product is at a premium.
Correct.
Okay. Tell us the unit economics of Greenday.
Here's the unit economics of Greenday.
- Our COGS is typically 60%. - Oh!
Forward logistics is 5%.
Our channel distribution margins are about 10%.
That gives us a contribution margin of about 25%.
The marketing is zero.
- Marketing is about 5%. - 5%.
That's around 20% net savings.
'When you deduct the manufacturing and logistics cost from sales,'
'you call it Contribution Margin 1 or CM1.'
'When we deduct'
'performance marketing costs from CM1,'
'it is called CM2.'
'When we deduct the branding costs from CM2,'
'what you get is CM3.'
'This metric is important because'
'if the contribution margin is positive,'
'then company-level profitability is achieved sooner.'
What's your current fixed cost?
Our monthly expenses are to the tune of around Rs. 20 lakhs
which include salaries of Rs. 10 lakhs,
overheads and expenses of Rs. 2 lakhs,
and we spend almost Rs. 8 lakhs
on acquiring new farmers.
We already took that as a variable cost
- to arrive at the CM3. - Right.
- Is it 8% over and above that? - Yes.
- Okay. So, the CM3 of 20% you mentioned... - Right.
- For Greenday. - Greenday.
- That's actually 12%. - Yes.
Tell us last year's and this year's EBITDA so far.
Last year, we were at an operating profit,
but because we were creating a new brand,
there was a Rs. 1-crore...
Not operating, the total company EBITDA.
We haven't aggressively raised funds as such.
We raised a round in 2022
which was for Rs. 3.1 crores.
It was led by IIMA Ventures
in which the IIMA alumni network
as well as angels had participated.
- Valuation? - The valuation was Rs. 25 crores.
Then last year as well as this year,
we raised two bridge rounds of almost Rs. 2 crores each.
We were merely building the business in a stable manner.
It wasn't a kind of aggressive scaling.
Floor and cap?
- Rs. 56 crores and 88 crores. - Okay.
I'd like to make you an offer.
Sure, thank you so much.
India is moving towards health and I'm loving it.
The direction you took,
it was vertical integration with seeds
and now the flour.
It's been very well-thought of.
Yours has been a sagacious journey.
And who knows? If it becomes really big,
after flour, you can go into
- ready-to-eat cookies and bars and all of that as well. - Yes.
I would like to make you an offer
of Rs. 60 lakhs for 1.5% equity
and when you turn profitable,
I'd like to have a royalty of 1% on sales.
Only till I get my principal back.
I would love to be a part of making India healthy.
Thank you so much for the offer.
So, Aishwarya and Prateek!
You used the word "nation-building" in your pitch.
I believe that's a very empowering word.
You know? You can give your life to nation-building.
Coming to your pricing.
I think it's an absolute sweet spot
because all the D2C premium value-added brands
that will emerge in India
- will be at a 20% premium to mass category. - Yes.
- Aspirations are everywhere including Tier 2 and 3. - Right.
In 2030,
- 90% of your business will be Better Nutrition. - Absolutely.
So, I'll make you an offer.
It's Rs. 60 lakhs for 2% equity, which is Rs. 30 crores.
It's still valuing your Better Nutrition business
at a value of 20 times its current revenue,
but no royalty.
Sure, thank you so much.
What's your current inventory and cash in the bank?
There's over Rs. 1.5 crores in cash.
The inventory is about Rs. 1 crore.
- you touched Rs. 10 crores in three years. - Yes.
- Suddenly, your growth rate has slowed down. - Right.
- It's 15 to 20% now. - Yes.
Kunal, we are consciously controlling it.
Our seed banks at the moment
are in a way, our biggest competitive advantage.
It is not readily available in the country.
Because we have the seed banks now, we've created a capacity of farmers.
We could procure a value of about Rs. 40-50 crores
and build an urban bank.
If I lean towards seeds, then I'm creating more competition.
So, the yield from the remaining seeds
- will be sold to competitors. - Yes.
We won't be able to take any advantage of it.
How many farmers signed up with you and how many left you?
We've transacted with a total of 20,000 farmers to date.
- So, you're losing farmers. - That's one thing.
The second thing is yield-oriented seeds.
Someone or the other tells them,
"Leave this. These seeds will give you a higher yield, shift to this."
Exactly. Then they don't trust you because you sold the seeds to them
but the yield wasn't good. As a result, they made less profit.
So, by associating with you,
farmers make fewer profits in the short term.
How will you solve that problem? Tell me in one line.
- By just killing Better Nutrition brand. - Exactly.
Everything depends on only one thing.
How quickly
- you make Better Nutrition a big brand. - Correct.
- Right. - Coming to your current round of Rs. 10 crores.
How many commitments do you have and from who?
We've raised Rs. 4 crores.
There are some prominent accelerators
and VCs who have made commitments.
How can you ask for a valuation of Rs. 60 crores?
If your floor is Rs. 56 crores and the cap is Rs. 88 crores,
then all of this will get converted to Rs. 60 crores.
[solemn music playing]
We would like to structure the round
- in a way which is equally beneficial to both. - Ooh!
Will the investors agree?
Yes, provided you and I agree.
You've watched a lot of Shark Tank.
Look, your credentials are great.
So, everything is looking good.
You know, you're bio and the others are non-bio.
But somewhere, I seem to be lacking that comfort from the start.
When you told me the story about Sitapur,
I still couldn't understand why.
In two years, you took all the learnings
and even launched the seeds.
That wasn't adding up for me.
Coming to the bridge now.
For an investor who invested in the bridge two years ago
at a floor of Rs. 56 crores,
you're asking me for a valuation of Rs. 60 crores now.
Whereas you claim it is the continuation of a round
in which you received funds two years ago.
All in all,
I'm not getting that comfort and authenticity
which I'm expecting.
The businesses are good.
Your product is good,
but without that comfort, there is a doubt and I am out.
The food industry, unfortunately,
does not talk about health
and the medical industry does not talk about food.
So, great initiative.
There is a big opportunity,
but you've put a big roadblock ahead of me...
[tense music playing]
Which I cannot cross. Your valuation!
If I come, I want to be all in.
In fact, I'm looking for a company that I can go all in into.
I'm that well-versed with it.
But I would need 8 to 10% in this company.
[tense music playing]
I want to work closely.
So, for now,
I'm going to watch from the sidelines.
I have a strong feeling
that we'll have a meeting in the coming six months,
and I will be your investor
with significant participation.
- Be one now. - I'm out for now.
I can't. There's no way for me to. He won't agree to the cap table.
- I mean, 56... Rs. 88 crores. - What'll change in six months?
- A lot might change. They might run out of money. - Fine!
[laughter]
- I doubt it. - We'll see.
Prateek! Aishwarya!
The transition you made from B2B to B2C
is quite impressive.
Many companies fail at it
because their B2B mindset never changes.
You're a great team.
You complement each other.
However, there is a problem.
Smart people sometimes get stuck in bad businesses.
And that business becomes a cage for them.
I believe Greenday has become a cage for you.
You're not able to leave it.
If you want to grow Better Nutrition,
this business might require a big reset.
Because Better Nutrition will create value for you.
- I hope you've learnt a lot from here. - Sure.
I am out today.
I wish you all the very best.
- Thank you, Kunal. - Thank you.
Prateek, I'd like to change my offer.
The new offer I'm making to you is because
I think there's a good point
that if your floor is Rs. 56 crores,
we should respect those investors.
They have put in their money to create entrepreneurs like you.
Right.
So, I'd like to change my offer to Rs. 60 lakhs for 1% equity.
I'll take a royalty of 0.5% of sales.
It's a very small amount.
That's only once you become profitable,
till I recover my Rs. 60 lakhs.
which we could structure as advisory plus equity.
SUGAR's journey saw the same story as Kunal just mentioned.
We had an e-commerce company called Fab Bag.
We couldn't accept that it wasn't doing well.
Finally, we saw a pivot when we had to raise funds for it.
We did it on SUGAR's revenue which was very little at the time.
Fab Bag had to be killed.
And I look back and think,
- "I could have taken that decision earlier." - Right.
So, it's a very fair point.
If you aim for a really high valuation,
you'll be giving up your future years.
Position this as a right to win,
- not as a revenue stream. - Sure.
No, but equity is important.
What would you like to do?
- Can we quickly take a minute and come back? - Yes, please.
[pensive music playing]
I think
- we should ask both of them to come in together. - With...
I thought you should've asked for 3% equity against Rs. 60 lakhs.
He said his investors want him to save the company by any means.
Change it. Take 4%. He's willing!
Should we give the royalty or not is the question.
Royalty till when we are profitable
till the time they recover their money, which is nothing,
'Namita!'
- Join me! Rs. 60 lakhs for 3%. - No! Let's...
Why join in every time? It doesn't...
'She no friend!'
[laughs] 'No friend!'
Vineeta, you're an alumni and a senior and...
Hey! My dad was from IIM Ahmedabad too.
Will you cut a deal on that basis?
- Obviously! Why not? - [laughs]
I'll take everything I can!
We want to request you both to come on board together.
[tense music playing]
I think you pick one
because 1% is too low, guys.
They don't want to collaborate. What will it be?
[gripping music playing]
We'll go with her.
- With Namita? - Yes.
Just because of the fact
- that Namita has more conviction in what we're building... - Ooh!
In such a scenario, we would choose Namita's offer.
[laughs]
My friend went to IIM too.
[laughter]
[camera shutter clicking]
All the best, Prateek.
- Thank you. - Thank you, bye.
[music concludes]
Like they say, 'Everybody has their lucky day.'
I seem to have too many these days.
Oh my God!
- Congratulations, guys. - Thank you.
It's a really unique proposition
when not just one, but two Sharks fight over you.
You feel immense pressure inside
but when we saw that both Sharks want to come on board,
it felt good as well as surreal.
I can imagine,
but on the flip side,
you had to reject one Shark so to say.
Was it strange? Did you feel awkward?
It was quite difficult and painful
especially because Vineeta is an alumnus
- and my senior at IIM Ahmedabad. - Yes.
We really wanted her on board
but we had to take a call.
Namita's conviction in our start-up was quite high.
So, we chose Namita.
One good thing is an alumna is a connection.
Second, you know she has a keen interest in your business.
- So, you can always reach out. - Absolutely.
You've come a long way from Lucknow to Mumbai.
You're making our food even better and more nutritional.
So, we've ordered some better snacks for you
- from Swiggy Instamart. - Wow.
They've arrived in ten minutes.
So, these are the snacks. Thank you.
They're sugar-free and high in nutrition.
They have zinc and protein.
So, this is for you.
- Thank you so much. - Thank you so much.
Thank you so much. Please enjoy this.
I'm going to take your flour home. My mother will be ecstatic.
I take everyone's products home!
Guys, visit Swiggy Instamart.
Whatever you want will be delivered in just 10 minutes.
Order now.
[theme music playing]
Mom, this dress is so pretty.
Should I buy this for myself?
No!
The neck is so deep.
Brother, what do you think of this top for me?
Is this even a top?
Where's the rest of the fabric?
How will you wear this and go outside?
Mom, this is a dress.
Also, it's my favourite colour.
Should I please buy this for myself?
Yes, this looks better.
What is she wearing underneath
that her bra straps aren't visible
and makes the dress fit perfectly?
Mom, nowadays, be it noodle straps or bustiers,
there are many innovative products
to wear such dresses.
There are tapes
and nipple covers.
And they are very easy to use.
You just have to peel them,
paste them and you are good to go.
Wow!
Your generation is amazing!
You can dress however you want
with confidence.
If this product fits well,
then we can say goodbye to bras!
[laughing]
Sharks, today, Pinq brings to you similar products.
Greetings, Sharks! I am Mandeep, the mind of the business.
- Greetings, Sharks! I am Gurdeep, the soul of the business. - Oh!
Greetings, Sharks! I am Manveen, the heart of our business.
- Wow! - That's nice.
We are from Faridabad, Delhi NCR.
Pinq Polka is a female hygiene,
I tried their sanitary pads
and realised that this quality is not available in India.
That is when I decided
to bring these premium quality products to India.
nipple covers.
It is currently our star product.
Women loved it so much
that they started using it as an alternative to their bras.
And that was the start of Freedom 2.0.
They showed so much love
that our four-month forecasted sales
sold out in just one month!
We finally realised
that the requirements for these products are growing in India
and we decided to expand our lifestyle range.
We understand the needs of women.
We've fulfilled 1.75 orders until now
through D2C and marketplace pan-India.
Pinq's vision
is to normalise discussions around
lifestyle and hygiene products.
And in the next three years, we aim to replace
women's bras with our products as much as possible.
And we need your support to do that
without any straps attached.
- Oh! - Our ask is
Rs. 1 crore for 2.5% equity.
- Greetings! - Hello!
- Mr. Mandeep, Ms. Gurdeep and Ms. Manveen. - Yes.
Welcome to Shark Tank.
- Thank you! - Thank you!
This is a taboo subject
- in many households. - Correct.
And the way you introduced this
so openly and with humour
- was really impressive. - Thank you!
Tell us a bit about your background.
How did you start the business? Tell me about your background.
I am from Delhi.
One year after my marriage,
I started a boutique, which I ran for 25 years.
My husband was a great support in running it.
Through this journey,
I learned about customer excellence, operations
and managing clients. I gained a lot of experience.
And then she decided
that she wanted to start something.
I felt I've done a lot on my own,
so why not combine my experience
with my children's aspirations
and help them take their brand to new heights?
So, I decided to shut down my boutique
and fully dedicate myself to Pinq with her.
I started my journey in automobile sales
and also worked with some luxury brands in sales.
Then, in 2017, I launched our brand.
Sharks, I was born in Delhi.
For my graduation, I studied partly in London and partly in India.
After returning, I got an opportunity.
I spent three years in sales in the hotel industry,
working with Marriott and Leela.
My last assignment was with a startup.
I joined Soothe Healthcare as the Head of Sales and Strategy.
I scaled it from zero to Rs. 200 crores in seven years.
I had a team of around 1,000 people working with me.
I quit last year in April and...
What is the name of that company?
- Soothe Healthcare. - I never heard of them.
Yes! Soothe is... What is the product?
- Paree. - Yeah! Paree Sanitary Napkin.
Oh! Sanitary... Okay!
Last year in October,
Mr. Mandeep, tell me honestly. I think
Ms. Gurdeep pulled your ear and said,
'Aren't you ashamed to help others sell sanitary pads?'
'Your sister is already doing it, go join her!'
That is what transpired, right?
- No! I have... - No?
I joined because I saw a blue ocean market in the lifestyle category.
There are certain problems today.
Intentionally or unintentionally,
80% of women worldwide suffer from
- something called Bra Strap Syndrome. - What's that?
Where they are not aware of their cup sizes
To make it fit comfortably,
- they tighten their straps tight. - 80% women?
- No! - 80% women. And this is some of the data that is available.
- Is this true? 80%? - I think this is a dated report.
15 years ago, I was going to launch my lingerie brand called Caress.
And at that time,
around 70%-80% of women
bought the wrong sizes because there was a challenge in the market.
But in the last 10 years,
- there has been a lot of awareness... - It's growing.
So, I don't think it's 80%. Maybe 20%-30%.
We referred to some reports.
- Yes. - Also, we maintain our customer service database.
Mom personally calls every customer on our website.
- That's what she does after her cancer today. - Oh!
After her, what?
So she was diagnosed with breast cancer.
Oh, sorry to hear that.
And luckily, we have doctors in the family.
We got both breasts removed.
Oh my God!
That was the suggestion that a normal doctor doesn't give.
As a family, we had decided this.
She is not on chemo now. She is on gene therapy.
And the percentage of that happening again is slightly higher.
But we've told her to live her life till the time she can.
She comes to the office every day, we have lunch together
and she talks to every customer herself.
So, that's our motivation to take this forward together.
Ms. Gurdeep, you are so courageous. Why are you crying?
Would you like some water?
[music playing]
- Sit! - Come on!
Was it triple-negative breast cancer?
- It was the second stage. - Is she in remission now?
- Is it fully gone? - She's completely fine.
- Amazing! - You've crossed the toughest path.
You should smile. I understand your eyes well up sometimes.
But congratulations! You beat cancer.
- Thank you, sir. - Well done.
Superwoman!
How have you divided the roles?
I handle the CRM department.
I handle some portals of marketplace
and overall company's operations.
My mom handles the customer excellence department.
And I am here as a Chief Strategist.
- Where new product development, marketing... - Oh! Chief Strategy.
And primarily our websites, D2C and digital marketing.
Who is the CEO of the company?
I am the CEO.
- Will you show us the product? - Yes, ma'am.
[music playing]
These are camel toe concealers. This is the first time in India.
[music playing]
- We worked with our designer. - These deisgns, logo
- and packaging are in-house? - Everything is in-house.
Very nice.
And this is our top seller.
Today, 40% of the contribution of business revenue
comes from only the breast cup.
Lifestyle is our main business.
What do you mean? Non-sanitary pads?
Non-sanitary pads, non-hygiene.
What is the split between non-sanitary pads and sanitary pads?
Kunal, we divide the category
- of our company into three parts. - Okay!
Intimate hygiene.
That's sanitary pads, panty liners and menstrual cups.
- How much is the percentage? - 10%.
Then there are hygiene essentials.
Sweat pads, breast pads, pee on the go,
- which is 5%. - Okay!
In the lifestyle category,
we have all our bra replacement products and panty products.
- That's 85% revenue. - Good!
Looking at your vibe and branding,
I can clearly see a lifestyle brand.
Why are we going into a highly competitive market?
Is there a strategy behind it,
or are you doing that you've been doing that?
Anupam, we started because
our brand's sanitary pads are among
the best in quality in India today.
But the sale is under 10%.
As Anupam said, this is a red ocean market.
Where a lot of brands are spending on marketing.
We, as a company,
haven't spent on marketing in six years.
A Blue Ocean is a market
with no competition,
where a new space is being created.
Companies introduce innovative products
and carve out a niche.
Red Ocean is
a highly competitive market with many players
trying to steal the market share.
We started it this year
We want to grow that by marketing.
Parallelly, to maintain customer stickiness, we want to gradually
Tell us your revenue for the last three years.
Last year, we closed at Rs. 3.63 crores.
Before that, we closed at Rs. 1.22 crores
when Manveen and my mom were managing the business on their own.
- Oh! - The year before that it was Rs. 1.07 crores.
This year, we've already done Rs. 3.25 crores.
In how many months?
In seven months, end of October.
- And this year? - We will close at Rs. 10 crores.
What is our bottomline this year
- and last year? - Until last year, we were net profitable.
Very marginally, last year, the profit was Rs. 3 lakhs.
We were profitable the year before that by 5 lakhs.
This year, we've incurred losses
primarily due to marketing expenses.
Our marketing spend this year is 57%.
How much is the loss until now?
- Loss is around Rs. 1 crore. - Oh!
Which is 30%.
And by the end of the year, we are expected to close at
a loss of around Rs. 2 crores.
Our overall blended gross margin was 74.5%.
How is it split between lifestyle and hygiene?
Lifestyle is 80% and above.
and what we import, our products are
at least 2.5% more expensive
in terms of cost compared to the competition.
Where are you spending your marketing cost per month?
Out of 57%, 27% is on performance marketing.
30% spend is on Google and Meta.
- Okay! - And 7% is sampling.
Who do you give samples to?
- To the customers of our website. - Your website.
Our calling is divided into two departments.
One is our acquired customers
who buy our lifestyle product.
When we call them for feedback,
our team ensures they properly understand the rest of the category.
Do people entertain such calls?
- Yes! - They do.
- Many! - You tell me about customer excellence.
Actually, I call around
100 to 125 customers.
- Per day? - Per day. I call them.
- Oh my! - Very good.
Around 50-60 customers talk to me.
When they respond, I inform them
that I am one of the founders of Pinq.
Yes! So, I just want to have
feedback from you.
Some of them are really sweet.
Some of them are blunt.
They ask me to call them later. But those who say that,
I call them every Saturday once again.
Wow!
- Persistence! - On Saturday...
I leave a question mark and call them.
I salute you! People spend years to learn this.
The customer I speak with,
I ask them, 'Is this your first time?' They reply, 'Yes.'
I make them aware of the other products we sell.
I write what they say on a sheet
and provide that in their order.
And we get the response within a week sometimes.
'Aunt, I loved what you sent. How do I order it?'
'You order it for me.'
What is the conversion rate from sampling?
Currently, it's approximately 5%.
- 5% conversion? - That’s the conversion rate on our website.
- Most of them ask her to order. - Got it!
Tell me an important thing.
85% of revenue comes from lifestyle products.
The branding is on lifestyle.
You are excited about lifestyle products.
You are mostly explaining those products.
Why don't you stop selling the rest?
We just want to give it a last try.
If we invest in overall brand marketing,
our customer base will grow from sanitary pads
- and there is repeat... - Mandeep, what happens is,
there are more people in the market
who are only catering to that category.
Didn't you spread yourself thin?
We absolutely agree with your feedback.
We took one leap of faith by trying marketing.
We are planning brand marketing.
For the first time,
we shot our video and brand song.
Who is investing?
- We've taken investments. - Who did you take money from?
In a fund round.
I want the CEO to speak.
I'll share the finance aspect,
- and then she will speak. - He handles finance.
In 2020, we raised a small friends and family round
of Rs. 30 lakhs
at a Rs. 3 crore valuation.
In 2023, we raised Rs. 30 lakhs once again at a Rs. 6 crore valuation.
We raised a round in April
of Rs. 1.66 crores at Rs. 12 crores valuation.
Booby Tape? Boob Tape? What is it called?
- A global American brand. - An American brand called Nippies.
Can you tell me what their revenue globally is?
Currently, their business is worth Rs. 700 crores.
Just for your information, we are already on Amazon UAE.
And within the next 15 days, we will be on the US Amazon as well.
We are also launching our website in the US.
We also have plans to expand in Canada and Australia
on Amazon as of now.
Ms. Gurdeep, I cannot fathom what you are going through.
Cancer is a growing concern in India,
and it’s something everyone fears.
But you fought this and you came here, it's a big thing.
I believe that if, for the next 20 years,
I simply keep asking
why people are buying my product
and why others are not,
I will always know what I need to do.
There is no better strategy.
Right? You've learnt that in your 25 years of boutique career.
You are playing the most important role in this company.
- Thank you. - And I also feel
that barring this year, in the years before that,
this company was moving forward with the right strategy
and on the right path.
What are you implying?
At some level, I feel you are distracted.
It's a humble advice,
that you shouldn't run.
You need to focus!
Currently, I am out.
Focus on what Gurdeep
tells all of you to do.
Nothing else is needed.
Thank you, Peyush.
Iron Ladies of India.
Very inspirational journey.
I see a few challenges here
because of which I won't join you today.
The first one is that your team
only has expertise in sales.
I think that is your biggest strength.
The three of you are better than Rocket Singh.
But the diversity of skill sets
that is missing.
Secondly,
when the bucket has a hole and it leaks,
you can't fill it up by pouring more water.
You've created a leaky lucky
with 57% in marketing.
Adding more funding to it won't solve the problem.
You have to repair the leaky bucket
before filling it with more investment.
The third challenge is TAM.
India is around 10-15 years behind.
So, I think TAM is small. For that reason, I am out.
- Thank you, Vineeta. - Thank you!
You know, Ms. Gurdeep, I agree with Peyush.
That you are the soul of the company.
I think the losses you are incurring
and the so-called brand building, making videos,
it's really too early for all of that.
Rethink your marketing strategy.
It's too early for me for that reason.
Come back and we will talk.
But today, I am out.
Thank you!
Gurdeep, you are the light of the business.
Thank you for inspiring us
and many people who will watch this today.
There is a structural issue in the business,
it's called PPP.
I believe we are above that.
That is why
we have to spend so much on marketing.
We have to push the product.
Go back and reflect on the price
at which we should sell to make demand take off.
- Sure. - I am out today. But wish you all the best.
- Thank you, Kunal. - Thank you!
I was thinking of an offer
because I thought it was a very interesting category.
There is a niche area where
we can do something.
But somewhere you lost me when you said US market.
Because if the opportunity is in the US market,
then you mentioned there are companies worth 100 million dollars.
It's very difficult to understand the US customer while being here.
At this stage of your scale,
there are only six words for you.
It's product, product, product.
And social, social, social for your category.
Make the product so good
that customers feel there's nothing else like it.
That will create a virtuous loop.
Marketing with the social angle I’m talking about.
You have to make that your superpower on social media.
So, retreat. Even if revenue decreases.
But don't worry about that.
You haven't raised an institutional round yet.
The investors will agree.
I am out for now.
I am happy to meet you guys again...
- Sure. - To spend a lot of Saturdays
while she is on the phone.
Sure. Thank you, Anupam.
- Good luck, guys! - Thank you so much for coming.
Wish you all the best.
- Thank you. - Bye!
The Sharks are more experienced than us.
We also get to learn from their experience.
They've shared feedback.
We will work on that.
And about getting the investment,
that's okay. As Anupam said, if not now, someday.
I am sure there will be a time
when the Sharks will call us
to tell us they want to invest.
So, we are very positive about our category and our brand.
- Hello, team Pinq Polka. Greetings! - Greetings!
I am very happy that you are here with me.
I liked your pitch,
Tell me, what are your top five priority business functions?
Customer Service.
- Okay. - Strategy.
Strategy.
- Fundraising. - Fundraising.
- Sales. - There is Sales.
- And then Marketing. - And Marketing.
Marketing is your High Card.
This is interesting
because yours is a product-led business
and you didn't choose Product, why so?
I think we've already achieved a strong product to a certain level.
You should download the PokerBaazi app,
use your strategy and create your winning hand.
Download the 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'
'and Lenskart.'
[theme music playing]
Sharks, have you ever felt
that tingling sensation
when you're sitting on the floor, and suddenly when you stand up,
your leg feels numb?
After two minutes, it returns to normal.
In diabetic patients, after the nerve is damaged,
this sensation is lifelong.
Sharks, more than 500 million diabetes patients
could be affected by this.
In the future, this injury
can turn into an ulcer or gangrene,
which may eventually lead to leg amputation.
Sharks, every 30 seconds,
can be avoided if nerve damage is detected
early and accurately through proper testing.
Our mission is to make this test affordable and accessible
at Ayati devices.
And we bring to you, Vibrasense.
so that, through timely detection,
we can help diabetic patients avoid foot amputation surgeries.
For this, our ask is Rs. 1 crore for 2% equity.
Nishant,
welcome to Shark Tank India Season 4.
I completed my graduation in electronics and communication.
I got admission to IIT Bombay
where doctors and engineers make a team
and solve a real-life problem.
In this course, the doctor mentioned diabetic foot.
When we created the prototype and discussed it with doctors,
I discovered that three members of my family
have this condition, and they are in a severe stage.
- Wow! - That is how I was motivated
and after my MTech,
we researched this for a year.
And the company started in 2019.
Where do you operate from currently?
- Nishant, India is the diabetes capital of the world, right? - Yes.
What percentage of the diabetic population
face this extreme issue? Do you have some numbers?
The recorded number for India is 100 million diabetic patients.
a nerve conduction test or something else? Get into the details.
The gold standard test for detection
- is the Nerve Conduction Study. - Okay.
One transmits an electrical impulse
and the other receives it.
Since the distance between them is known,
the velocity can be calculated.
By analysing the amplitude and wave of this velocity,
we can determine whether the patient has neuropathy.
It's around 40 to 60 minutes.
So, what we did was
quantify the sensation loss caused by nerve damage.
So, one of the sensations which is lost in neuropathy
is vibration.
This is easily detectable.
We generate vibration stimuli at a controlled frequency
and amplitude,
applying them to the skin.
and apply it to multiple locations on the patient and ask the patient.
However, this test is highly qualitative and subjective.
That is what happens globally.
This is what it is globally.
There is no machine from
So, there is a measure for vibration, VPT.
- Yes! - The device is made of steel with a rubber-like component.
There is one more device to quantify it, biothesiometer.
The test lasts for 15-20 minutes.
When you go to Tier 2 and Tier 3 cities,
one doctor tests more than 100 patients.
And they can't spend 10-15 minutes behind every patient.
So, we've turned that device
into a portable version that can be kept on the doctor's table
and quantified.
If there are 100 patients who suffer from neuropathy,
Yes, I am very curious.
[music playing]
Emcure also used this device.
- Oh, really? - Yes.
- Do we use it in our camps? - Yes.
Very nice to hear.
It has a display that shows the severity
of the level of stimulus.
There is a white coloured probe
which will generate controlled stimulus.
First I will connect you to the application.
Once it pairs, I will record your basic history.
So, Diabetes Type.
- None! - None!
I will do it on the hand to show you how it feels.
When you feel something you can say 'yes' or show your thumb.
When you feel this on your leg, say 'yes' or show your thumb.
I will test at 6 point. Position one first.
[music playing]
Yes, now.
I will save the P1 recording.
- What number was that? - 14.
So, below 15 is normal.
But 15 to 20 is mild.
Still very close
- to not being normal. - Yes, seriously!
To rectify this,
we place longitudinal graphs.
For example, today is the first day of the test.
After a certain time, when the doctor recommends this again
when we do the test again, we see a graph
of whether the patient is progressing or not.
I am entering position 2.
Yes, now!
Now. Yeah!
Is it over now? Can I go?
Show us the report.
This is how the report is generated.
The patient's basic details are at the top.
This is the foot report, which falls under the green category.
So green means normal.
When symptoms progress further, it will turn yellow.
And in severe cases, it will turn red.
So your average BPT is 11,
- which is considered normal. - Okay.
Oh, thank god!
Right now, how are you selling this, through doctors or enabling doctors?
First, we collect leads. Either through distributors.
Whose leads do you gather?
- Doctors' leads. - Doctors' leads? Okay.
What kind of doctors?
Primary doctors, MBBS doctors
who treat diabetic patients as well.
And diabetologists too.
But in the long run, we aim to charge for software too.
So how many units have you sold so far?
More than 4,000 units.
And not only in India,
we have exported it to over 15 countries.
What is the average price per unit?
Can you share your revenues from last year and last month?
- Last year, we closed... - When did you start sales?
- We started at the end of 2021. Okay. - So tell us from then.
The last closing was 2.3 crore rupees.
Before that, 1.75 crore.
And before that, 1.3 crore.
And now we have turned profitable.
Last year, how many unique orders
Over 200.
Most of them were from pharma companies.
How much will you do this year?
- Six and a half crore rupees. - Oh!
What changed suddenly?
Until now, we have manufacturing the three products.
The first step for diabetic patients is early detection.
Then, for treatment purposes, we shift to Vibrasense + T.
And when injured, Angiocam assesses healing potential.
You have only given a demo of Vibrasense, right?
I can also demonstrate Vibrasense + T.
- What is that? - It is yet to be launched.
What does it do?
There are two types of nerve fibres, large and small nerve fibres.
or small fibre nerve damage.
What about this Angiocam? Is it a treatment or not?
Angiocam is a laser-based device.
It's India's first and globally the fourth or fifth in this segment.
Where is the Angiocam device?
Angiocam device.
Sir, this is Angiocam.
In the middle, there is a camera
that captures images of the wound.
On the sides, there are two focus lasers
that help focus on the wound.
And then there is an IR laser,
an infrared laser, that illuminates the skin
wherever I need to focus.
When it illuminates,
if I give you a normal example,
imagine you are standing by a swimming pool with no water in it.
And you drop a one-rupee coin inside.
When you look at it,
you will see it sharply.
But if the pool has water, the same coin will appear blurry.
We use a similar technology
for the hand. Suppose there is an injury here.
If there is no blood flow in the skin,
we will see the image clearly.
But if there is blood flow, it will appear blurry.
The level of blurriness is measured using a technology called
laser spectral contrast imaging,
- One is vibration-based detection. - Yes.
And the other seems to be spectral analysis-based detection.
No, it is not spectral.
- Let's call it vision-based. - Alright.
Don't you think the approaches are different?
Kunal, the use cases are different here.
This is for neuropathy detection.
This is to determine whether an injury will heal or not.
I understand. Why dive so deep into two separate technologies?
Our mission is to prevent diabetic foot amputations.
There are two main causes,
one is neuropathy, and the other is peripheral artery disease,
which blocks blood flow.
To reduce amputations, we need to work on these technologies.
But do you think this can become a big business?
- Both of these can become huge businesses. - Which one?
- This and Vibrasense? - Vibrasense, Vibrasense T, and Angiocam.
- Can Vibrasense and Vibrasense T become a big business? - It can.
Then why are you spending time on this?
Actually, those products are already developed.
You have done six crore rupees in sales.
We are a young company.
You have done great work.
You made excellent progress.
But why not focus?
The overall focus here is on
preventing foot amputation.
That is also scaling up. It's not like that.
I am not doing this alone. My team includes
- doctors... - Alright.
What's the revenue share of Vibrasense,
Vibrasense T, and Angiocam?
Currently, the entire revenue comes from Vibrasense.
But what about your IP protection? Do you have patents?
We have four patents, out of which two have already been granted.
And what are these patents for?
The technology we have invented,
how is it providing consistent streamers.
The raw materials and the manufacturing process
we use, the tolerances we maintain,
that is our experience.
How much money have you invested in manufacturing?
- Around nine crore rupees have been used. - Nine crores
in manufacturing?
Not only manufacturing, overall.
- Business operations as well. - Okay.
So you have raised funding?
Yes. We received a grant of three crore rupees.
The remaining six crores were raised in different years.
Can you provide a funding history?
We raised 1.85 crore rupees in 2021
- at a valuation of 15 crore rupees. - From whom?
- IIT Bombay, Sion invested. - Okay, and?
In 2022, we raised one crore rupees from angel investors
at a valuation of 21 crore rupees.
And then in 2023-24, we raised a CCPS round
of around three crore rupees.
The cap is 50 crore rupees.
Its lifetime is three years.
- You said you have sold 4000 units? - Yes.
Out of those, how many were sold to pharma companies,
how many to doctors...
- We sold 85 per cent to pharma companies. - Oh really?
And around 10 per cent to doctors and individuals.
Some were also sold to telemedicine companies and government NGOs.
Then why haven't you cracked the doctor market yet?
So far, we have reached only eight pharma companies,
whereas there are 120 pharma companies
supplying neuropathic drugs.
We are getting a push from pharma companies, and doctors are using it.
We have seen that our sales process
starts with a camp, a doctor sees the product,
and when they realise it generates business sales as well,
they directly purchase the device. Some referrals...
But your data does not show that.
- Your sales from doctors are quite low. - Yes.
I feel
you are solving a real problem.
That is clear from your conversation.
One crore rupees for five per cent equity.
We both can work together as a team.
She can bring you a lot of connections in pharmaceuticals and doctors.
Secondly, we can help with scaling R&D
and manufacturing.
Emcure has invested in biotech.
Very few pharma companies invest in biosimilars or biotechnology.
From your first cheque to your first revenue,
it takes at least 12 to 15 years.
So taking a long-term approach is very important,
which we are willing to do, subject to technical due diligence.
I am very long-term in this, and so is Namita.
I think this is a fantastic product and a great business.
I genuinely feel that Namita can add
much more value to you in terms of opening doors than I can.
So right now, I don't think it makes sense for me to make an offer.
Thank you.
My big issue with this is that
in the last couple of years,
you have not been able to penetrate the doctor market.
And I think neuropathy devices,
the technology is interesting.
But it doesn't seem complex enough
to lack alternatives.
Let me complicate your life a little more.
I think you should think of another device.
You talked about tracking blood flow
through vision,
if you can go deep into this
and track glucose levels
through vision,
- Good luck. - Thanks, Anupam.
You are very impressive.
There are also some to-be-determined aspects of the business.
But I feel it's still a bit early for the business.
So for now, I am out. But I wish you all the best.
Nishant, you have only one offer.
What do you want to do?
Thanks, Peyush. Thanks, Namita.
- Can I make a counteroffer? - Of course, it's your right.
One crore rupees for four per cent equity.
at a valuation of 21 crore rupees.
If we go to 20 crore rupees, it will affect...
- Then do it at 21 crores. - Let's do at 21.
I'll tell you something. You understand CCPS, right?
It's preference shares.
Namita, but the round we raised
was in 2022.
After that, we also received patent grants.
No, I understand.
But you also need to understand that if you have come here...
Nishant, it comes to 4.76 per cent.
Nishant, I haven't made an offer,
but as a friend, this is a no-brainer. Take it.
So our counteroffer is one crore at 4.76 per cent
- Can we do four per cent? - No.
I will not. Then, Peyush, you can go solo.
We are not like your other investors.
[dramatic music]
Nishant, time for a decision.
[dramatic music]
- Deal! - Oh, lovely!
they will bring to the company
matters a lot.
Looking forward to working together.
[bright music]
Welcome to Acko Change Makers, where we truly welcome change.
And it has been beautifully portrayed behind me
on this Change Maker Wall.
we are empowering a change.
Our Change Maker for today is Nishant.
- Hi, Nishant. - Hi, Sahiba.
Many people in my house also had diabetes.
Not only for me but for our viewers,
India is one of the leading countries for diabetes.
What kind of change can we bring
that we can start tracking or monitoring it better and earlier?
Our body produces insulin.
If the body uses the insulin, then we won't have diabetes.
If the body is not using the insulin
- or not producing it then it can lead to diabetes. - Right.
If we change our habits
and eat food on time,
sleep on time, do our exercise
- then I don't diabetes will be a problem for us. - Right.
Wow, that means I have to bring many changes in my lifestyle.
I have to do it too.
ACKO is changing the insurance landscape
along with its revolutionary offerings.
Get rid of spam calls while taking car insurance.
Avoid the confusion between price and policy coverage.
Take ACKO's car insurance.
It's easy, transparent, hassle free and offers the right premium.
Because you're bringing this change, we want to thank you for your time
in the Tank and congratulate you. On behalf of ACKO and Shark Tank
here's a small gratitude.
[camera clicking]
Welcome to 'Adani presents Beyond The Tank.'
'Winston makes beauty appliances'
'which can used at home, with salon-like results.'
'As of now, we have eight products'
like face trimmer, eyebrow trimmer blackhead remover.'
'LED face mask'
'and to achieve this we use the 3-S strategy.'
- 'Smart.' - Sturdy. - 'And super easy.'
- One of the Sharks said... - There are 4-S. You forgot ***.
'They are very suggestive and well-designed products.'
'What are your numbers currently?'
'We have done 150 until July this year.'
'And this year we will clock six.'
'Six crores is not a joke.'
- 'To make out of a trading business. - Right.'
'We will offer you a deal.'
'Vineeta and I will give you a fair valuation'
'which is for today's market and that is 10 crores.'
'It will cost you 10%.'
- 'of your company. - The deal is final.'
- 'All right. - Wow.'
Please welcome the founders of Winston,
Nikita and Himanshu. In your journey of Shark Tank
what changes did you see, personally and professionally?
We had just started our company.
Then we actually got to know a lot of things.
We did not know how to maintain EBITDA.
Even as entrepreneurs you got to learn from Shark Tank.
- 100%, we learnt many things. - We learnt many things.
Our biggest learning in the initial phase was that
all the Sharks say that if you want to build a brand
then don't launch everything.
Start with one or two products
- and make them your hero SKUs. - Hmm.
and then slowly build with it.
I love the packaging.
It's very good packaging. It gives a premium look.
The packaging that you're seeing now is an entire brand revamp.
- Your logo is different. You're right. - Yes.
The logo has changed. And the products that you're seeing here
are released in a mid-premium category.
How has having two Sharks
benefited your business. I know you have Anupam and Vineeta.
- This is very interesting. Our packaging, - Hmm
was also approved by the Sharks.
- Even, in fact, the logo. - Oh, wow.
We are on a WhatsApp group,
so we sent a logo to the group.
And Vineeta gave us such a detailed description of it.
She made a comparison of what our logo looks like
- And the other brands. - and what the competitors are looking like.
How old the font is that was used.
And where we stand in comparison.
We are delighted with both our Sharks.
- Because both are encyclopedias and we even call them that. - True.
And they give a very detailed description for everything.
They are always there to help.
But how did you celebrate now? Obviously, you got two sharks.
We told our influencer friends that we will celebrate together.
Our family and close friends were with us.
It was a big moment.
- We wanted to be in that moment. - Hmm.
We forgot that we have to check the orders.
We were prepared for the usual
maximum 100 orders that we would get.
- Did you have your Shopify store? - Yes. - Normally Shopify had 50.
- 50-100. - We knew we could manage 50-100 orders.
- We anticipated a 10x jump and not more than that. - Hmm.
But all the influences came and they all tagged us.
- 'Go watch... Our Brand is on...' - Oh, so the orders increased.
- More? - We were not expecting...
- Okay, give me a number. - You guess.
I would also assume 10x.
- We got 9,000 orders. - 9,000.
- 9,000. - 9,000. - 9,000.
We were also in shock. And the next step was,
we changed and ran to get the logistics into order.
How much inventory did you have at that time?
At that time, we had around 25,000 inventory.
- Okay. - Good if it gets sold or else we would sell all year long.
But we did not know 9,000 orders will come in 12 hours.
25,000 washed off till February.
And then there are reels on Instagram.
Despite preparation, we were out of stock.
- Monthly revenue of the month before Shark Tank. - 40 lakhs.
- What was it in January, after Tank? - After Tank...
2.5 CR.
I remember you had promised Anupam
- that you'll touch 6 CR that year. - Yes, we knew it would be 6 CR.
- Did you achieve it? - Yes. - Yes.
I'm very intrigued to know what is your next manifestation.
100 CR is there, of course.
- Which is next and it looks achievable. - Hmm.
I love the confidence.
- Yes. - '100 CR, it's achievable.'
We're already there at 50.
We're already at 50 and we know what the plan is.
Of course.
We have the products with us.
- So, it's already laid out. - Next year, we are going through Amazon.
We'll be launching in four countries.
- Very good. - Yes.
We were just waiting for this range to come up.
- Okay. - As I told you this is a mid-premium range.
Our ASP for the products
until now was between Rs 2,000 and Rs 3,000.
- Hmm. - So, now we are giving an upgrade.
Because now the times have changed. We want a lot more from one product.
That time you said that your distribution was
- website and marketplaces on Amazon and Nykaa. - We are everywhere.
What was the biggest challenge or obstacle in the recent three to four years.
Our industry is growing.
There are many other brands that are growing with us.
The market size is growing. To have a share in the market,
- Hmm. - in a category and sustaining it, is very difficult.
There is a category called 'Callus Remover.'
We have a 32% share in Callus Remover on Amazon.
That is a category which we made on Amazon.
We are also looking to sign an A-list celebrity
very soon. So, if anybody wants we are open.
To represent the brand, to be the face of the brand Winston.
We want to communicate that there's no need to give so much to International brands
- Yes. - There are Indian brands that are doing well.
Plus there is Make in India.
- You're getting the same premium brand. The same unboxing feeling. - Hmm.
To open it like an iPhone.
- We are giving that feeling. - All your branding and marketing
- will be done based on that. - Yes.
Guys, it was lovely talking to you. You gave me great insights into the market.
But your growth story
is great. You're growing 8x.
From 6 CR on the way to 50 CR.
And of course, your power of manifestation
which has completely replicated in your business.
I really hope it stays as powerful as it is.
And because of your spirit of 'We will do it and show'
Adani will honour you. I'll take you to the Adani
Hall of Achievements.
Nikita and Himanshu, welcome to the Adani Hall of Achievements.
Please tell me
how do you feel after seeing this journey? Are you feeling nostalgic?
- I'm getting goosebumps. - Are you getting goosebumps? - Yes.
I can see you were so nervous in this picture.
You look very happy but there is a cute nervousness.
But you've achieved so much from that point until now.
This is a little something from Adani to you.
- Thank you. - Thank you.
- Please hold it. - Yes.
- Hi, Vineeta. - Hi, Vineeta.
'Hi, how are you?'
- We are good. - Good, how are you?
'Congratulations.'
'You've touched five crores a month.'
- Yes. - Yes, we've touched five crores a month.
We've achieved the number we wrote.
- I think the next milestone is 100 crores. - 100%.
'You'll probably be the first company on Shark Tank who went from under 10 crores'
'to 100 crores, within such a short time.'
We get guidance from the good Sharks, so it's possible.
'It's your hard work. We only support you.'
'We choose from the options.'
'I just want to congratulate you and tell you I'm very proud.'
'And thank you.'
'Anupam and I have profited a lot.'
[laughing]
- Hello. - Hello.
How are you feeling?
- Himanshu. How are you, Nikita? - I'm good.
The way you're going ahead, one day
you'll be Sharks.
Manifesting.
- The business has been crazy, right? - Crazy.
You have grown in the last three years.
- And 3x every year. - Yes.
Amazing work. I'm so proud. Great to see you.
'Ask the Shark.'
Hello and welcome to 'Ask the Shark.'
The Shark who is with us today is a very sincere person.
I think even while lying in bed, he must be reading NCERT books.
We have with us
- I'm fine. - I want to ask you today's question.
The question is from Harsh Bisht.
He's 26 years old from Nainital, Uttarakhand.
on my investments.
Because my old start-up,
I won't say it did not work, but it did not do very well.
If you have
changed between your start-ups very quickly
and none of them have worked, then I assume
that people will say, 'What is happening?'
Are you not as persistent
or do you give up quickly?
It can have some impact. But today, at large
failure is not considered to be bad.
We have seen on Shark Tank, so many founders come
who have opened start-ups, some of them
grew big, some of them did not.
But we see
that they gathered a lot of experience.
- in this. - Oh.
Thank you so much for the answer. See you in the next
'Ask the Shark,' with a new question and a new Shark.