[theme music playing]
- Hello, Sharks! - What's up!
Food is our first love, isn't it?
We distribute laddus when we're happy,
but we stuff ourselves with pizza and burgers when we're upset.
However, they are high in carbs and added sugars.
This makes us gain weight and increases sugar levels.
Then comes a lot of problems and free advice.
Don't consume sugar, go on keto,
and even if you do, you drown in guilt.
Dietary restrictions are effective,
but are they sustainable in the long term?
I wish there was something that could slightly reduce
my calories, carbs, and sugars after I eat.
Something like a calorie cutter or sugar cutter.
Wow! Sounds like magic.
But it's actually not magic, it's science.
And that is what we do at Moderate.
Moderate is a health and wellness brand
which addresses chronic lifestyle issues like diabetes
If you consume this calorie crusher,
it removes up to 40% of carbohydrates
and associated calories.
In nine months,
we have fulfilled more than 47,000 orders.
In Moderate, our vision
is to provide a product to our customers
that helps them maintain their health
while ensuring their lifestyle is not significantly compromised.
And after all, crushing a few calories never hurt anyone.
For this, our ask is Rs. 50 lakhs for 1.25% of our company.
Best of luck with Anupam.
[laughing]
- Now, we will just... Watch! - We'll wait and watch.
So, how did you guys meet?
It's a very unlikely combination.
Dr. Lalitha and I are siblings.
- Okay! - She is my older sister.
- All right! Okay! - And Kartikeya is our co-founder.
I know Kartikeya as a brother-in-law for about 9 years.
Little more detail. How did you get this idea?
I've been in the medical profession for almost 30 years.
I've done my MBBS from JIPMER, Puducherry.
Did you say 30 years?
- Yeah! 1995 batch. - Does it have age reversal?
[laughing]
Thank you.
- I studied MD Radiology at Osmania Medical College. - Wow!
I was also the professor and Head of Department of Radiology
at one of the private medical colleges.
I have also served as the Vice President
for the Yashoda Group of Hospitals,
which is a corporate hospital chain.
That's it?
I have a certification in diabetes.
- I have a certification in... - Enough! We're sold.
I studied Electrical and Computer Engineering at Purdue University.
- PartyGaming was the name of the company. - Okay.
I grew it organically and in 2017
I exited that business.
And a UK-listed gaming company.
Along the way, in 2012, I started a company in India.
In August 2021, I sold it to an Indian-listed gaming company.
- Amazing! - Wow!
Serial entrepreneur.
Did you make a profit in these businesses?
- Yes, I did make some money. - Good!
- How much? - The company that I sold in the UK in 2017,
that exit was around 50 million US dollars.
- Wow! - Wow!
And what was your holding?
100%.
Why are you here?
Come here.
- Take our seat. - Come here!
How much did you sell the second company for?
I am learning from them.
Don't feel any pressure.
- Don't feel any pressure. - We are under pressure.
Oh my God!
He is from IIT Chennai.
You are my senior.
Wow! Okay!
I studied Chemical Engineering at IIT Madras.
I got an opportunity to handle their FMCG process.
I was leading their deodorant brand, Engage.
- After that, I took a shift in Brand Management. - Wow!
I launched Savlon and two new brands for ITC
in the home care space.
- You handle the marketing. - Yes, I do.
When did you start this business?
We started this year in January 2024.
What is this?
- I will explain it through an animation video. - Sure.
Glory to Lord Rama.
Thank you!
The packaging is lovely.
I am scared, but I still want to consume it.
There is nothing to fear, we assure you.
- The packaging is cool. - It's very cool.
I've never seen green and pink in any brand.
Thank you.
You've mentioned
And you will lose weight. Is that right?
No!
- Can we play the video? - Yeah!
We eat different types of food.
It could be rice, 'poha'
or sugar-laden beverages
or junk food like pizzas.
The food enters our stomach, churns,
and is sent to our intestine for digestion.
What is expelled by the stomach is called chyme.
Enzymes act on the carbohydrates and sugars in the chyme,
breaking them down into glucose molecules.
The glucose molecules enter the blood,
If the blood sugar spike is normal after a meal...
There is a problem if it's abnormally high.
The extra glucose that's left
deposits as fat in the body.
But if you have Moderate with your meal,
it blocks up to 40%
of the alpha-glucosidase enzymes.
Only 60% of the carbohydrates and sugars are digested.
Only 60% of glucose is produced.
And there are fewer glucose molecules
to transform fat.
So, the amount of fat that will be formed will be less.
So, the undigested
40% sugars and carbs flush out of the body.
Sharks, this was the predominant mechanism of action
of our flagship product, Calorie Crusher.
- Okay! - Wow!
It's a bit complex. I'll tell you why.
Everyone in the world is talking about
extracting more nutrients from the food we eat.
You are claiming that by consuming your pill,
40% of the food remains undigested.
- Just one correction here. - Sure.
40% of the carbs. We only act on carbs.
...is extremely specific
only to break down the polysaccharides and disaccharides.
- I think the whole standard is random double-blind. - Yes.
Randomized, double-blind, placebo control,
- crossover study is the gold standard. - That's right.
And that is the study that we've done.
So the ingredients are...
So, we call that formula glubloc.
...and trials took us around
8 months to one year.
All permutations and combinations of these ingredients that work.
These two products came out first
in efficacy and safety.
That's why we chose these two products.
These two ingredients have been used for many years.
Mulberry has been in Chinese medicine for many years.
And people consume green apple peel extract.
Around 20% of people
might face bloating or flatulence.
- That is normal! - That's why you sell Happy Gut with it.
Once they face flatulence, this will help.
No! It settles down in a few days.
Only 20% of people experience this.
We feel discomfort when we eat something different.
Happy Gut is a pre and probiotic blend which we launched.
...carbs or sugary food
if you consume salad or fibre...
Maybe 5%-10%.
Is there a benchmark to measure a 40% reduction
in the spike of blood sugar
after consuming a specific amount of sugary and carbohydrate-rich food?
Because soft cola had direct sugar.
Did you do multiple studies only from AIIMS?
No! AIIMS, Medicover Hospitals...
Currently, it's in the protocol stage
at the Asian Institute of Gastroenterology.
How much did you pay them for this test?
We spent around Rs. 50-60 lakhs on these clinical trials.
The clinical trial
does not just certify the ingredients.
It also certifies its use case and effect.
It has been established through the graph.
Okay, thank you.
What is the recommended dosage?
It depends on a person's lifestyle.
I have rice every day for lunch and dinner.
So, I consume it twice every day.
If someone is a fitness-conscious person
or eats a lot of protein and fewer carbs,
they don't have to consume it.
- They can take it on their cheat meal days. - Cheat meal.
- Have you heard of apple cider vinegar? - Yes.
Apple cider vinegar
- reduces your sugar spike. - Correct.
I've tried it on myself.
Yes!
From what I understand,
for whatever reason, it makes your insulin sensitivity high.
So, your sugar slowly absorbs in the body
- as opposed to spiking. - Correct.
- That is the healthier way. - Correct.
You are saying that I won't digest sugar.
Isn't there an alternative already
that is working on a better mechanism?
There is no alternative to Calorie Crusher
because ACV is working on your blood sugar...
How do you measure calories in a test?
You checked the sugar spike.
The percent of sugar and carbohydrates that weren't absorbed
- is back-calculated. - How do you calculate what wasn't absorbed?
Do you assess what has been excreted?
We calculated based on the sugar spike.
- So, you are measuring sugar spikes in both cases. - Correct.
Dr. Lalitha, with all due respect,
- when I mentioned apple cider vinegar... - Yes.
- You said that it doesn't reduce calories. - Correct.
But you are reducing calories
- in the same way. - Apple cider vinegar
doesn't stop digestion.
Ma'am, I understood that.
Try to understand what I am saying.
How do you prove calorie reduction?
Is it that you back-calculate
the reduced sugar spike
and then estimate the amount of calories reduced based on that?
If I consume ACV
and take 20%-30% reduction of the calorie spike,
it is the same.
No.
The spike is reduced,
but the rest of the sugar gets absorbed
and it maintains the sugar levels, it does not crash.
- Fibre reduces blood sugar. - Yes.
But it doesn't stop digestion.
What we eat is digested and absorbed by our body.
It might not be absorbed in 60 minutes,
but it is absorbed in 120 minutes,
2.5 hours
- or 3 hours because it's digested. - How did you measure
that this won't be digested?
It stops digestion.
It is stopping the enzyme.
It's not allowing sugar molecules
- to become glucose. - But we don't have evidence of that.
That is what we are saying.
- This is a huge responsibility. - Yes.
As a company, when you come to Shark Tank
- and are making such tall claims. - Yes.
- Once the show is aired. - Hmm!
All the doctors from the world...
On one hand, you know that the whole Ozempic revolution is happening.
Are you ready for it?
- Absolutely! - We are.
You are saying that you understand the responsibility.
But I am not sure.
If I'm understanding correctly
and based on what I've seen.
If this actually works and your claims are true,
it's not just a multibillion-dollar opportunity,
it's a multitrillion-dollar one.
Any of these drugs, as he mentioned Ozempic.
There are many copycat drugs now.
Many pharma companies are making it.
- People know its side effects. - Yes.
They still consume it, they are that desperate to lose weight.
- You are claiming that too. - Yes.
I am not sure if you can fully prove it.
And if you can, please do.
- Yes. We understand your concern. - Facts don't lie.
If you have any facts about traction, then tell us.
- Yes. - In nine months, our total sales...
The gross sale is Rs. 1.07 crores.
How much do you sell it for?
Calorie Crusher and Sugar Slayer are for sale at Rs. 999.
Where have you distributed it so far?
Where did you see uptake and where did you see the problem?
You can buy our product from four places.
One is our website, letsmoderate.com.
Second, we are available through Amazon on marketplace.
Third, we cracked a distribution partnership with Curefoods.
We are available as an add-on with their partner brands.
So, if you want a single sachet of a carb-cutter...
If you are ordering food from them, as an add-on,
you can purchase us on Swiggy or Zomato.
It is clear that you are convinced
that this product is fine,
it works and it's safe.
Then why could you only make sales of only Rs. 1 crore in nine months?
You were sceptical about this
- and you had questions. Customers have the same doubts. - Yes.
We have to address that.
Real user feedback is important and we wanted that.
So, our marketing spends in Q1, Q2, and Q3
- were made with limited awareness. - Where did you spend?
We spent primarily on Meta, Google and Amazon.
But most of it is on Meta and Google.
This is without switching on any form of CR.
Mr. Sreeram, tell me something.
What do you think this will become and how big this company will be?
My personal projection is...
We have not tried this.
So, I feel that we think by seeing ads on Meta,
people will buy it and start consuming it.
It's not that easy.
I think we have to go through doctors
because people are scared of side effects.
If the scepticism isn't addressed here,
how will you convince lakhs of people through just one ad?
Good point!
Philosophically, at this moment,
I can't take that bet. For that reason, I'm out.
Thank you for the science class to a commerce student.
I got to learn a lot today.
I love the name, branding and packaging.
Dr. Lalitha, you have a lot of knowledge.
I think
I trust you. I have this feeling
that you're worth trusting,
and that you've created a well-made product.
I think your team is also solid.
There is risk and even Spider-Man also takes risks.
I am just a 'Tiger-man', right?
So, I should take the risk.
I will give you Rs. 50 lakhs for 2.5%.
This is a fixable problem.
It gives me the feeling of chewing gum.
But it is solvable. It is the issue of form factor and packaging.
There is no right or wrong answer to this.
You need to have a point of view, which you do.
I want to give you an offer.
Wow!
For the same valuation, I'll give you Rs. 1 crore for 5%.
The purpose is also good.
The problem is that it's slightly risky.
If something happens in the future,
I am not too sure if I can carry that risk.
Because I don't know much about this space.
If 1,000 people consume it and God forbid,
something goes wrong, I will never be able to forgive myself.
I might've taken a bet if I were a scientist.
But because this will be a black box for me, I am out.
Okay.
I think the problem for me
is that what you pitched here
might be based on our assumptions,
or some aspects of your pitch make it sound like a miracle drug.
With this, you will lose weight and you will get rid of these problems.
But I don't think so.
Even if it works,
you have to always keep pitching it
as a weight management assistant
and not as a cure for weight loss.
I think I am out for that.
I will give you one input.
Conduct studies from third parties.
The more credibility... The reason to believe has to be solid.
Nobody should be able to punch holes in what you are claiming.
If you don't do that, then I worry that
- your magic pill... - I agree with Anupam.
Your product will remain just a herb.
We are doing one more study in AIIMS,
which is for about 6 months.
And one in AIG, which is for another 3 months.
I want to... Conduct studies where you don't have to pay.
Currently, you are paying for these studies.
We have to sponsor all the studies.
This is a perspective, and it's an important perspective.
But at the same time, in India,
people drink special slimming tea to lose weight.
Because they are desperate to lose weight.
If this is a safer alternative,
people are looking for solutions and they are
already consuming not-so-good products.
So, I see it as a positive also.
All right, guys! Decision time!
[music playing]
Thank you so much for the offers.
Our counter is Rs. 1 crore for Rs. 3.33% of the company.
then we will take 5% for Rs. 1 crore.
All right! We have a deal.
[applause]
I was reminded of my MBBS viva days.
Sreeram, Lalitha and Kartikeya,
welcome to the PokerBaazi zone, where you hold the cards.
How was your pitch?
- It was good. - Good. It was exciting.
...where you have to better your skills.
- The tide can turn at any moment in both situations. - Right!
And third is the place where he is.
Making a lot of money, the maturity phase.
I want you to share a story
from any of these phases with the audience
so that we can also learn something from you.
The most difficult phase of our journey
was when we were setting our formulation.
We had to try a lot of combinations of the product to test
which formulation will be effective to reduce calories and sugar.
In that phase, we had to maintain patience.
Because until the clinical trials are completed in that phase,
you don't know if that combination is successful or not.
The attrition phase was the toughest phase.
The most exciting time for us was when the results were positive.
If you want to use your skills and strategy,
then go on the PokerBaazi app and make 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.'
Oh! This is nanny!
This is back! How many times will they come here?
This is not Broomees, this is a nanny service.
But they also provided nanny service.
- Not just... - They are into cleaning.
[music playing]
[theme music playing]
Sharks, this journey started when I became a parent
and I was inspired to start this business.
Aryan was born in 2018. He is a special child.
We began searching for a trained nanny for special children
who could provide the best care for my child.
But after a lot of searching, I realised
that this concept doesn’t exist in India.
Then we started talking to local nannies.
Their reply was always,
'I will handle everything and do everything.'
We can't blame nannies.
There is no ecosystem
where nannies can be educated, trained or upskilled.
This is about Aryan.
But even for a normal child,
there is a need for a compatible and competent nanny,
which is very difficult to find in today's time.
With all these problems, we launched HireForCare in 2021.
This is a digital platform
that connects households
with 100% certified and verified nannies
HireForCare's professional nanny network,
safety and security features and instant replacement assures
that every parent can trust their child is in safe hands.
HireForCare is not just for the parents.
In fact, it is also an employment and upgradation portal for a nanny.
Currently, we have more than 5,000 nannies registered.
Through us, the nanny gets to earn an extra income of around 30%.
We offer nannies in six different categories, including Japa Nanny,
We launched HireForCare in 2023.
Currently, we are operational in Mumbai.
Very soon, we will be in different cities.
Sharks, why have we come into this world?
To create a better tomorrow.
- And children are the future of tomorrow. So... - Wow!
Considering childhood especially,
we want to make HireForCare the one-stop solution for childcare.
For that, our ask is Rs. 36 lakhs for 3% equity.
Similarly, will you invest in us?
Wow! Super!
Mr. Ram Niwas and Mr. Rajat Vij,
- welcome to Shark Tank. - Thank you!
And thank you. This is a serious problem.
Especially, the first few months
- when you hire Japa or nanny. - Japa nanny.
In those months, the nanny is more important than the husband.
You tell me about you.
- You said you struggled to find a nanny for Aryan. - Yes.
Did you manage to solve this problem?
And how is Aryan?
Aryan was born in 2018, he had cerebral palsy.
Due to this, there is a lot of disturbance in the family.
If there is a special child in someone's home,
the frustration level goes up.
I am a single parent.
I look after Aryan.
Because what I've witnessed
is that a parent can give up.
To understand a special child
and spend time with them,
there are rigorous activities
that regular nannies may not be able to handle
until they are trained properly,
and have proper education,
only then they can cater to them.
For that, I struggled a lot.
When we introduced this concept with HireForCare,
I thought this was a huge market
which is untouched in India.
There are many companies that offer these in the US, but not in India.
For that, we've hired a therapist.
A therapist is important for these children and they are rigorous.
How do you know each other?
He was in Jaipur.
I joined in Jaipur, Rajasthan, as a product head.
6 months later, I was transferred to Mumbai.
We were in touch
because we were in the same department and we gelled well.
When I incorporated this company in 2021,
I was struggling a lot back then
for a co-founder, and I used to hire freelancers
for IT work.
He has technical expertise, so I asked for his support.
He helped me without taking money.
Six months later, he said he likes the vision
and he wants to be a part of this.
He joined me fully-fledged after that.
I am also a single father.
- Okay! - So, I understand
how difficult parenthood can get.
What happened to your wife?
My wife passed away 20 days ago.
- Sorry! What? - Oh my God!
- Recently? - In an accident.
- Oh my God! - 20 days ago, she passed away in an accident.
[pensive music playing]
Do you mean a car accident?
Yes, sir. Car accident.
So sorry to hear that.
How are your children adjusting?
Yes, sir. I have two kids.
- A one-year-old and a twelve-year-old. - Oh my God!
Let me explain.
Two days after the accident, I received
the confirmation for Shark Tank's shoot.
I informed him after
about six days that he could come if he was able to,
otherwise, it was okay.
I will go alone.
But he said he wants to be on the show.
He was ready to face the situation.
That's why he is here today.
We discussed a lot about this.
[music playing]
'Many things in life are beyond our control,'
'but we must confront them.'
'My wife's absence will always be felt in my life.'
'In my entrepreneurial journey,'
'my wife supported me the most.'
I feel my strength is shaping a better future for children.'
'So, I manage both my business and children at the same time.'
'My children know what business I run.'
'And I know how to manage business along with children.'
[music playing]
'From the beginning when he came into this world,'
'my life's sole purpose has been to cure him.'
'It was only later I understood that this is a journey.'
'You need to be in it.'
Don't think it's a disability. Just be a part of it.
[sentimental vocalisation]
'Persistence is required in the case of a special child'
'as well as in an entrepreneurial journey.'
'I think both things are co-related.'
'To me, this is a calmness.'
I feed him and spend time with him.
I love it and it's what I do in my free time.
'He also charges me up.'
'Coming to my co-founder Ram.'
'If I talk about our relationship, we are very friendly.'
We share a special camaraderie,
so we've never had any trust issues.
Even if it is something trivial about my family or kids,
Rajat will know.
'And if Rajat is going through something emotional'
'be it related to his child or parents,'
'I would know about it.'
'I am going through a rough patch too.'
However, as my good friend, Rajat needs me now.
'I began this journey for society.'
'I wanted to bring a better change in society in terms of childcare.'
'If I leave it midway,'
I don't think that my work until now would hold any value.
'So, I'd decided to definitely go on Shark Tank'
and share my story
to bring a better change in society.
[inspirational music playing]
You both are very strong.
[sentimental music playing]
It's just the stereotype.
When I came, I expected a lady to make the pitch.
When you came, the first thing that came to my mind was,
"Two men are running a nanny service."
"Very interesting."
"I wonder how they plan the training and others."
Now, I think stereotypes are both ways.
I feel really inspired to meet you
because I think you're a real role model for Indian men.
You're running this as a strong single parent
and have come up with a solution to solve the problems of others.
Really, hats off.
- Hats off to both of you. - Thank you, ma'am.
If you were to look up the internet,
about 2 crore children suffer from autism
and 2-3 out of every 100 are of autism in India.
There is no professional organisation
which specifically trains and provides nannies to them.
Next level, man.
It's crazy.
Give us a demo of your app.
Thank you.
This is the HireForCare homepage.
We have six categories of nannies available.
Namely, Baby Care, Japa Nannies, Premium Nannies,
Special Care is for special needs,
24/7 and Night Nannies.
Below that is our digital verification portal.
Suppose you've hired a nanny and want to conduct a verification,
We've listed the pricing here
mentioning the starting rates of every category.
This is your account.
If you click on "My Nanny",
you'll get the details about the nanny.
You've to mark the nanny's attendance here.
If you face any issues, you can raise a ticket here.
At the bottom, you can see the reports of the nannies
for the verifications we've conducted.
We work on a monthly operating model.
We don't take a lump sum payment.
Take any company in this industry,
they'll say, "If you want to hire a nanny,"
"pay us one month's salary as commission"
"and a nanny will arrive at your home."
In our case,
we work in a fair and transparent way.
We ask our clients to pay a monthly component
and charge a markup of 20%.
Nannies enter into a service-level agreement with us,
Doing that is very difficult.
First of all, we provide medical insurance to the nannies.
Plus, we extend that medical cover to their families.
Then we give them a retention bonus too.
The biggest issue in this space obviously is
that most people when searching for nannies,
do so within their network.
You're doing the verification bit,
but there's still a lack of confidence
on the client's part as to where the nanny has previously worked.
Let me tell you how we deal with the supply.
For example, a nanny joins our portal.
First, a profile is made for her.
After that, a verification is done.
In that, we check the nanny's criminal record.
Does she have a history?
Has she committed any crime in India?
Post that, we do reference checks with her previous employers.
Then she's handed over to the training team
where she undergoes proper training.
After that, she is finally on-boarded on our platform.
She gets a certification from Skill India.
They have a proper test
which provides them with a certification.
When we explain our onboarding process to customers,
they gain a little confidence.
We also have customer reviews.
If someone speaks to a previous client,
they will find recordings
as well as written reviews about a particular nanny.
We've served 1,000 families so far.
I have the feedback for 1,000 nannies already.
- 1,000 would be for a lifetime. - Yes.
In how many homes, are your nannies currently employed?
125 nannies are live
and currently work all over Mumbai.
If I look at our long-term value, we make Rs. 40,000
Many customers move to other cities, so the nannies make an exit.
The churn is high in this category
- because it's a chemistry between the parent and the nanny. - Yes.
Sir, our current churn rate is 10%.
- Out of the 100 or 125 that are live... - 120.
10 to 12 quit every month.
10 to 12 quit every month
- and we add around 25 new nannies. - Gosh!
Why do nannies leave
when you give them medical insurance and look after their families?
Sir, we conducted a study.
- I personally visited many slums in Mumbai. - Okay.
They have this mindset
where they work for 7 to 8 months and chill for a month or two.
They want to enjoy their time
and return to work after a two-month cycle.
Do people apply online for the post of nanny?
Yes, nannies apply online as well.
10% of our monthly supply comes from there.
And the remaining 90%?
We have two channels, online and offline.
In online, we get nannies from social media,
Google and WhatsApp...
How? Do you post ads?
We do local branding.
We visit their areas and put up posters.
We ask them to call a number if they need a job.
Okay. And offline?
In offline, we have a lot of job portals
where we get our database.
- Skill... - For example Apna and others.
Yes. Like Apna and WorkIndia.
We get a lot of data from there.
Also, we're registered with Skill India.
They hold trainings
and pass their data on to us for employment.
How exactly do you train the nannies?
Our trainer makes a video call to them on WhatsApp.
We have a batch of a maximum five nannies.
It's a four-hour training
which we complete in two days.
What do they learn in four hours?
Anupam, we currently only hire experienced nannies
as we don't have a physical setup.
- What's the minimum experience? - One year.
Four hours is just a brush-up, not training.
They get well-versed with the work in a year.
- We merely fine-tune their skills. - Correct.
- "This is what you need to do." - Polishing.
There are many nannies who you haven't met or no one has met.
We get acquainted on video calls,
but yes, a physical meeting is not possible in every case.
Can we come to the revenue now?
Sir, our gross margin is Rs. 5.5 lakhs.
You mean your commission income.
- Yes. - 5 lakhs.
- How much? Rs. 5.5 lakhs. - Rs. 5.5 lakhs.
My GMV is Rs. 24 lakhs.
80% is my direct costing for nannies.
Employee salaries account for 13%.
Onboarding and medical insurance come up to 2%.
1.7% accounts for our sourcing activities.
And miscellaneous comprises 2%.
Our EBITDA is 1.5%.
What's your take-home out of Rs. 5 lakhs?
Rs. 25,000 to 30,000.
Do you draw salaries?
Not yet.
We'll start drawing Rs. 50,000 each from April 2025
as we will close this year with a gross margin of Rs. 70 lakhs.
And our EBITDA will roughly be 4 to 5%
as we're growing now.
What percentage of your business of 125 families
is special needs?
Sir, 10 customers currently.
We're going rather slow as it's a really tricky segment.
We have 100 trained nannies
out of which 10 are working for customers.
I feel that you're stuck in a quagmire.
Many people have tried out this business.
Whether it is house help, drivers or nannies.
You are doing the same thing as these informal networks.
You started this business with a goal,
but that seems to have taken a backseat
with this having taken precedence.
Didn't you ever think of building the brand
by solving the difficult problem?
It's because if we keep competing in this category,
we'll be stuck in this race.
Autism therapy is a big problem.
- Absolutely. - And if I can solve that
and build a brand there with GTM,
because that needs depth,
you can't solve it at a shallow level.
You have to go below the surface and resolve it.
And the informal networks will never be able to compete with you.
Have you thought about that GTM?
...special child care three months back.
In today's time, a parent spends at least Rs. 50,000 on therapy
for special child care.
Therapists charge roughly Rs. 1,500 a day.
Sir, I can bet
that out of the population of 2.5 crore kids,
barely 1% of them currently get therapy.
Sir, if you look at my vision,
it is to provide an affordable solution
through which any child affected by CP or autism
gets treatment via the online mode.
We have laid out sessions for what needs to be done every day.
It's a cumbersome task for parents.
Those who can't make the effort are not able to go.
Also, our therapist will check with the parents on a weekly basis
how they're conducting the sessions.
That's quite an important aspect too.
I think that you have to step back a little bit.
And if you're inspired by your original vision
of helping people with special needs,
if you can make an ecosystem for it,
then it'll be not just interesting, but very impactful too.
And you'll be more inspired by this
because this was the real reason you started this business.
So, one thing is clear.
I don't understand the current situation of your business.
I do however understand that you possess exceptionalism
from the way you've handled your personal lives.
So, I'll make you an offer.
I'll give you exactly what you want.
[music playing]
Exactly what you asked for. Rs. 36 lakhs for 3% equity.
This could actually become an incredible business opportunity.
So, I am, you know, happy to join Anupam's offer
or make you an individual offer on the same terms.
But it is for a potentially big pivot
which means you can't continue
with your regular japa nanny business,
because if you do, then you can't do this.
What are your views on this?
Sir, the suggestion that sir and ma'am gave...
We have begun this work three months ago.
So, will you cease the japa nanny line?
Yes. We can, sir.
Cease that and only continue the special child care.
We can focus on special care.
I think autism particularly
is a big problem in India.
I think you'll need to take this beyond home service eventually
provided you want to work on it.
Sir, to make it affordable,
we planned to start with at least a training centre
where we could train people online.
If you're ready to do that business, I think there's interest.
I'm willing to join that interest.
If we crack this segment,
there will be multiple ecosystems, sir.
It's not only about nannies.
Right from therapy centres to online therapies,
the scope is endless.
For every thing...
I mean, if I propose something, you agree to it.
If Peyush proposes something else, you agree to that too.
Maybe because they are all...
- They're all interconnected. - Align with your purpose.
But we're exactly proposing something different too.
So, I have a proposal for you.
I think your thinking needs some more development
as also what business problem you wish to solve going forward.
It's important to do that before we dive in fully.
Maybe, all five of us could do a friends and family round with you.
Prove yourselves there, if everybody is open to it.
After that, we'll do the next round.
Fine, sir.
Are you in?
Friends and family round at the same value?
No. We'll find out if he's in or not.
I'm actually associated with this cause already.
I'm sure you might know of Tamana School in Delhi
which is run by Dr. Chona.
So, in our own small ways, we support them every year
personally as well as through our company.
I will join in on whatever is decided here today.
So, should we do this?
- You asked for Rs. 36 lakhs. - Yes.
Let's go for Rs. 36 lakhs for 5% equity. 1% each.
[pensive music playing]
[music concludes]
Sharks, deal's done.
I can tell you very confidently that you'll never feel guilty...
- No, I'm pretty sure they can build this. - They're strong.
I have no doubt.
Good.
Build this.
I think when you leave a good job to pursue business,
a lot of questions come to your mind.
Now, I feel that in the entrepreneurial journey,
you might have lows, but there will come a spike in your career.
This feels like that day.
Our lives are turning around and this is that day for us.
Actually, we thought we were in this alone
but now, we feel we have support and that we're not alone.
We have the support of the Sharks.
So, we'll be able to do this even better.
- Hello, Rajat and Ram. - Hi.
How was your experience?
It was lovely. We got great insight in the Tank.
I believe it's a once-in-a-lifetime kind of experience.
Your business involves nannies.
This concept didn't exist back in our time.
On the contrary, I've been a nanny to my sister's kids for a long time.
I was a terrible nanny. Just terrible.
I was watching your pitch and it occurred to me
that your kids have been
- the inspiration for your start-up. - Yes.
I thought of getting them some gifts.
I went on Swiggy Instamart and ordered toy guns,
toy trucks and chocolates for them.
Look, it arrived in ten minutes.
Thank you. Here you go, sir.
- Thank you for the gift. - Thank you.
[chuckles]
Friends, if you need something too,
go on Swiggy Instamart and order what you want.
They've got everything. Delivery in ten minutes. Order now.
[theme music playing]
[theme music concludes]
Hello, Sharks.
Before we start the pitch, I will show you a picture
and you will tell us what you noticed.
So ready, Sharks?
[whimsical music playing]
[laughs]
He's missing an eyebrow.
Sharks, what was the first thing you noticed?
The tooth.
I observed someone said an eyebrow was missing too.
That is why you're Sharks.
You have an eye for detail
but when I or anyone else sees this picture,
the first thing we notice is the missing tooth, right?
A smile is so important to us!
Someone rightly said,
"The first thing a person notices in you is your smile."
A smile not only adds to your outer beauty
but also emboldens your personality
and boosts your confidence.
But does everyone have a perfect smile naturally?
No, right?
I do.
People have many dental issues,
for instance, the yellowing of teeth,
tooth discolouration, cracked teeth
and gaps between the teeth.
And these problems make people feel very awkward,
uncomfortable and conscious
- when they speak to others or smile. - Yes.
Although the treatments for these are available in the market,
they are normally painful,
expensive and time-consuming.
So, an instant, painless
and affordable solution to this problem
is DreamSmile Veneers.
DreamSmile Veneers cover the imperfections in your teeth
and give you a perfect smile,
as you can see.
- Oh, wow. Nice. - Wow!
- Oh, my! - Dramatic!
...our veneers cost almost one-tenth the price.
And in our eight-month journey,
we've given over 150 customers their dream smile.
This is just the beginning.
The dental cosmetic care market in India is about Rs. 9,000 crores.
So, our ask is a ton of smiles
and Rs. 80 lakhs in exchange for 6% equity in our company.
And you?
[Anupam laughs]
- Is this a sample? - Right!
You took our measurements the other day.
- Anupam, this one's customised for you. - Yes?
[music playing]
Last time, someone came to us
- to take measurements of our teeth. - Right.
When I wore it,
it had something like a crayon
and it was going till here.
It's not easy to put it on.
- No, I got it done too. - You...
It is very simple.
A four-year-old could do it easily.
Some people are challenged.
- That's different. - [laughs]
But generally it's really simple.
- You're used to it. - It took five minutes.
- Are you used to wearing dentures? - [Anupam laughs]
- Anupam, wear it. Yours are customised. - Yes.
- We'll see yours. - This is customised.
Yes.
Which colour did you pick?
Milky white and natural white.
Why not Hollywood white?
Hollywood white won't match your skin tone.
Nor your personality.
Because it's too white.
- I have two. - Yes.
What is this? The yellowish one?
Yes, that's natural white and the other one is milky white.
Can I try these on?
Yes, please.
- Show me. Show. - Wow! Show!
- "Raju, what pearly white teeth!" - Oh, wow!
[all laugh]
- Show me! - Show!
Is this your first trial?
- Did you try them before? - No.
- It's awesome. - It's hard to guess.
- It's great. Show me. - Are they loose?
- Does it feel weird or is it fine? Do you feel anything? - It's fine.
It looks good.
[light-hearted music playing]
Show me this. Natural white looks better on you.
Show me.
- It looks great. - Really?
Talk to me. Say any sentence.
Betty had a bitter butter...
Betty had a bitter butter
but the butter was... Betty had was bitter.
So, Betty had some more butter to make the bitter butter better.
Well done!
- Make him your ambassador! - [laughs]
[whimsical music playing]
Hypothetical situation.
- You're a young bachelor. - Right.
You get a date after a lot of effort.
You put on your best teeth.
You make a plan to go out for a meal.
How do you have dinner?
Do you take off the tooth cover? What do you do?
You can have normal food.
- At the most, you can have soft food... - Yes.
I'm wearing it, bro!
The material is highly flexible.
So, you can wear that
and have soft food including roti and vegetables.
Our customers have tried it.
In fact, Samir made a veneer for himself and tried it out too.
These come in variants too.
For instance, we even have 0.5 mm.
- We've made it for those with missing teeth. - Wow.
- Okay. - That is thinner than what we made for you.
This is called a cap, traditionally.
Caps have always been around in dentistry.
Then why is this product coming out in the market now?
I'm assuming something like this would have already been around.
For a traditional cap,
- we've to trim the tooth and file it. - Hmm.
Administer injections.
Whereas this requires you to do nothing.
It fits on any tooth regardless of its structure.
...for example in Tier 1 and 2 cities,
our scan experts make a home visit and scan their teeth.
Where we can't reach them,
we send them a DIY impression kit
and guide them on a video call.
It hardly takes ten minutes.
Next, we design the smile.
Whatever their issues might be...
...using a CAD/CAM or milling machine.
Oh, milling machines!
If you want to know in hours, then it barely takes three hours.
What is the making cost and your selling price?
Is this something people are wearing outside?
Is this coming into the limelight?
Yes.
I used to follow a dental-related page on Instagram
in which I saw the video.
It's an American company called Pop On Veneers
that makes these veneers.
This concept is quite famous in the US.
I wondered if anyone in India was doing it
and to my surprise, I noticed no one in India was doing it.
I took the initiative,
did the research and development on it.
What are the products and machinery used?
Is the material biocompatible?
I checked the aesthetics based on their customer reviews.
And in two months, I invested around Rs. 10 lakhs
and imported the machinery and raw materials.
Then I made veneers for myself and ten customers at the clinic.
I let them use it for four months before launching it in the market.
I launched it in the market in November 2023.
...to record their feedback
and see how it looked on them aesthetically
so we could make the product even better.
Are there many players or just one company in the US?
There are many players.
Let me tell you about Pop On Veneers.
Their revenues in four years
have been around Rs. 85 to 90 crores.
- Rs. 85 to 90 crores is not a high revenue in the US. - Too low.
If we translate it to India,
- one-tenth, that's a Rs. 9-crore revenue over a long period. - Yes.
- Peyush... - Which means there hasn't been a wide adoption of this.
You've listed crooked teeth and other teeth-related conditions.
Which out of these can you do and dentists cannot?
Aman, these are the problems.
They all have different criteria.
For example, if someone has a missing tooth
and they suffer from health conditions such as diabetes,
they can't go for implants.
- So, that's one market segment for your product. - Yes.
Correct? Second.
For those with missing teeth, say teeth gaps,
after a certain age,
- bone remodeling gets very difficult. - Okay.
I got it. There are a lot of these things that people can get done,
- but many that only you can help them with. - Yes, right.
You sell smiles for a living but don't smile yourself!
- We've been waiting for you to smile. - Yes.
Smile a little. Where's the energy?
Okay, we're just assuming what the target market is.
- It can be used for multiple purposes. - "It can be."
- Forget what it can be. - Okay.
I got that.
You have 150 customers, right?
- Primarily, what was the customer profile? - Right.
So, Anupam,
let me define our USP for you.
It'll be easier for you.
Firstly, the people who can't afford it.
Second, it is very instant.
- Sir! You're on the wrong track. - Okay.
- I'm not asking you those questions. - Okay.
I'm trying to ask you this.
The average person is not going to use this.
There is somebody who's trying to...
- Either the teeth are very damaged. - Hmm.
- Right. - He has no solution.
Second, like Aman said,
he has health problems and can't undergo any treatments.
The third could be influencers and actors in the glam industry.
Have you so far got an ideal customer profile?
- Yes. - Do you follow?
- Right. - No.
- No... - We got it.
You got it.
Are you here to get it,
here for the funding or to help us understand things?
Well, at least they're smiling.
Let me give you a good example.
We have a lot of customers who are getting married in a month
and want a quick fix.
- So, occasion wear when you want to look good. - Yes, occasion wear.
Wedding is a great point.
- When the boy and girl meet, they wear the veneers. - Right.
- And they take them off after marriage. - Right.
[Sharks laugh]
He's saying yes!
[solemn music playing]
This product...
Is this proprietary
or can anyone copy it?
We don't have a patent yet.
Gradually, people will figure it out.
If you thought the market was big and people would buy it,
why did you two doctors jump into category creation
when you had no idea of the market?
Aman, when you launch a new product into the market,
there are many factors you need to check.
So, we applied a strategic road plan
rather than penetrating the market directly.
We've learned a lot
and also refined our product in these eight months.
and I've run marketing ads myself.
I learned marketing, Meta ads myself
- and... - What did you learn?
How to make ads,
how to run Meta ads according to the demographics,
the country as well as the cities where we wish to expand to.
So, we learned all this
and now, we are ready to go to the market to scale it.
Why is this so expensive?
Your making cost is Rs. 5,000.
What does that entail?
I'll give you a break up of the Rs. 5,000.
20% of it is our raw material cost.
5.3% of it is our designing cost.
3.3% is the 3D printing cost, that's the model which is printed.
Our packaging cost is 2.3%.
As you can see, we are giving a good case.
And 2.1% is our courier charge.
We are keeping a profit margin because...
I guess this hasn't totalled to 100.
- I didn't add it up but... - No, it didn't.
I gave you my COGS, a break up of Rs. 5,000.
He's saying on revenue, not on COGS.
What's the life of this product?
5 to 7 years.
- Suppose I wear this for 365 days. - Okay.
It wouldn't last me 5 to 7 years.
You can wear it for 3 to 4 years.
It happened to my friend too.
He got into a fight with someone in Delhi.
- The other guy punched him and broke this tooth. - Right.
Everyone used to make fun of him.
"One tooth is broken. We'll break the rest too."
Then he spent a few years, got a new tooth and he was fine.
He regained his confidence, right?
I feel there's a need.
But...
Unfortunately, I don't feel this is currently a big category.
The market size is too small
and unfortunately, I won't be able to join you. Hence, I'm out.
- Okay. - Thank you.
Is there a way to crash the price?
Can this be sold at Rs. 1,000 or 1,500?
Not Rs. 15,000.
Not that low,
but we can definitely work something out
once everything is in-house.
- Then we can... - So, it's not in-house now.
Our manufacturing is in-house,
It's just 5%,
- won't make a difference. - 3D print model.
We also spend on the 3D print model.
You could bring it down by Rs. 400.
I don't think you need such fancy packaging.
I believe in this Instagram generation,
instant solutions are really taking off.
This product fits perfectly with the theme,
but I feel this product will not sell at this price point.
This market is going to exist.
There's no two ways about it.
And your pricing also isn't a problem.
Because in any market,
generally, in the absence of competition,
you start with a skimming strategy.
You lack the instinct.
When I look at your logo, DreamSmile Veneers,
the biggest word there is "smile".
Who'd understand veneers?
When you're trying to create a category,
why are you selling veneers?
Anupam, both the logos are different.
- Both are different. - The fonts too.
- Your fonts don't match either. - All four.
The same goes for your logos.
You completely lack the instincts for marketing and branding.
Why don't you change the name to...
Here's my input.
"Insta Smile Within 24 Hours."
For example, right?
The proposition ought to be obvious
when you create a new category,
but I don't see that instinct in you.
For that reason, I am out.
You can learn a lot about your product market fit from them
- if you ask better questions. - Right.
Bring in consumer insight expertise
and then raise funds.
Otherwise, your equity will get unnecessarily diluted.
I'm out today.
Your competition is with speed and innovation, not the category.
Take feedback and use technology.
Otherwise, time will pass, and 50 others will make it.
I'm out for now, but best of luck.
- Would you be willing to give - Now it's done.
Sixty per cent for a crore?
You're thinking again.
Sixty per cent? No, sir.
No? Okay.
Well, at least you smiled.
Alright, thank you.
- Best of luck. - Bye. Thank you.
Best of luck. Thank you.
There's nothing to worry about because
feedback is always positive, and we're not an established business.
So, we will receive many more feedbacks.
Like Anupam said today,
we were quite happy
that he saw value in giving us feedback
to help us. We felt good.
In fact, we got more confident.
[bright music]
Welcome to Acko Change Makers, where we truly welcome change.
And we saw a beautiful portrayal of this on our Change Maker Wall.
Through modern advancements
and smart techniques, we are empowering change
in deep-rooted cultural practices.
And today's change-makers are Dr Samir and Dr Amit.
- Welcome, friends. - Hello.
Ten out of 10.
- Right? You will receive your payment. - Yes.
Thank you.
But genuinely, you are doing great work and bringing change.
For our Shark Tank audience,
we want to ask what changes they can make in their daily life
to improve their dental practices.
The most basic thing is to brush twice a day.
Clean your tongue.
Oil pulling can also be inculcated into daily routines.
Additionally, visit the dentist every six months for a cleaning
and routine check-up
so that the dentist can detect and inform you
if there are any dental issues or minor cavities.
You are bringing a great change,
just like Acko is transforming the insurance landscape
with revolutionary offerings.
Don't delay and take advantage of Acko's health insurance benefits
like 100 per cent bill payments
and zero waiting period.
The sooner you take insurance,
the lower your premium and the higher your health cover.
- We appreciate your change. - Thank you.
And for your time on Shark Tank,
we, along with Acko, want to give you a gift.
[clicking sound]
I know you all very well.
Sitting at home, giving real-time feedback,
'This shot should have been played like this in cricket.'
'The bat should have been swung like this.'
'The sharks should have invested in this instead of that.'
If you have the courage, do it yourself in real-time.
Hurry to the Lenskart app or lenskart.com.
Hello and welcome to Ask the Shark.
She's just running.
With us is the co-founder and CEO of SUGAR Cosmetics, Vineeta Singh.
Hi.
Today's question is from Prajakta Kochar from Ratlam.
She is 32 years old.
When we invest in such companies on Shark Tank,
we usually take a very minority stake.
...not just one, but three, four, or even five big companies can coexist.
That's why I don't hesitate to invest in a competing company.
I assess it quite fairly.
But as we saw in the last season, when a face-off deal happens,
where two companies from the same category come together,
we get to evaluate them thoroughly.
So, when such a company appears on Shark Tank
where I already have an investment...
Absolutely. Thank you so much for the answer.
See you in the next Ask the Shark with a new question and a new shark.