[clanking]
[table screeching]
[music playing]
[music concludes]
[theme music playing]
[theme music concludes]
- Hello, Sharks. - Hi.
I don't mean Delhi, I mean Morbi.
Although a small city in Gujarat,
it is India's ceramic capital.
- The tile industry of my city is worth Rs. 75,000 crores. - Whew!
My city Morbi has welcomed
technological advancements for years.
That's why the manufacturing industry
and manufacturing processes here are top-notch.
But there is a contrast.
Distribution has not progressed
because tile is a high-ticket size and touch-and-feel product.
Where I'm from, we say...
[Gujarati] "Tadia, nadiya ne ghadiyal ta Morbi nath levaiya."
Which means
you should buy roof tiles, tiles and wall clocks only from Morbi.
I wish to take not just my family's
but also my town's legacy to the world digitally
with Tileskraft.
We are an online tile sampling and sourcing platform.
And if you want more options, not everyone can come to Morbi
but now, through Tileskraft, Morbi can come to you!
In the last two years,
without any physical presence,
but with convenience,
through tile sampling and actual tile photos,
is very time-consuming
with a high risk of breakage.
Perhaps, this is why many manufacturers
don't take on the headache of tile sampling.
Now, through Tileskraft,
every tile dealer in India
can very efficiently send across
on-demand tile samples anywhere in India.
because I'd never seen a woman in this industry.
In two years, I've established proof of concept
And I wish to do that with the help of an app
and I need your help and expertise in order to do that.
So, Sharks, my ask is
Rs. 60 lakhs for 12% equity.
[Gujarati] "Machchhu nu paani kei paachu na pade."
This means
those who've tasted the waters of the Machchhu River never give up.
- Well done. - I'm glad you told us the meaning.
We thought you were abusing us.
[laughter]
Welcome, Bindiya,
- to Shark Tank India. - Thank you, Anupam.
You mentioned you're the first woman
- You've broken some barriers. - Thank you.
Let's understand the journey. How did you make it here?
I'm a third-generation ceramic entrepreneur.
My grandfather was into the manufacturing of cement tiles.
My father runs a wholesale business of vitrified tiles.
And through an online retail platform,
I built my business in this industry.
I did my schooling in Morbi.
Then I did my graduation from St. Xavier's College, Ahmedabad.
I already had an interest in business.
So, I did an MBA in Marketing from Ahmedabad University.
handling the South Gujarat belt for modern trade.
After that, I went back to Morbi.
We were hit by the pandemic then.
So, leaving Morbi was not possible.
And I am a single child.
My dad asked me to help him with the business.
His belief is that the principles of business are constant
and if you learn them, you can do any business.
About Rs. 22,000 crores is exports
which is approximately 30% of the total production.
The rest is domestic consumption.
I've brought some gifts for you.
- Could I... - That's important.
I'd like to give them to you.
[light-hearted music playing]
- Oh, my! - Sir.
[light-hearted music playing]
Thank you.
I'll put this up in my home.
I really like how the back of every tile says "made in India".
It's nice.
I find the tile business quite exciting.
- I think, earlier, tiles were imported from China. - Yes.
And in a few years, the industry moved to India
and now, India isn't just self-sufficient but also exports!
- Right? - So, what happened in Morbi
that a huge tile business thrived there?
The core reason is that the town has easy port access.
There are two ports close to Morbi.
And secondly,
the availability of labour, land and raw materials.
Gujarat's industry also received a boost
through new government regulations
that brought about ease of business.
Also, the risk-taking ability there is very high.
Coming to your business Tileskraft.
Do you sell tiles
or is this an online marketplace for tiles?
I identified a problem.
Those who wanted to buy tiles in bulk
would come to Morbi in search of affordability and more options.
Gradually, the buying trends in tile saw a drastic change.
In today's times, decision-making too has changed.
Architects and designers are involved.
Earlier, tiles were an afterthought.
Now, they're an integral part of design.
I identified a target audience
with a requirement of 1,000-5,000 square feet
for standalone and residential projects.
In two years, we've only sold tiles directly to the end user
and we do that through our discovery, which is online.
So, when a client either through our website
- You can explain the user journey using that. - Definitely.
you'll see a WhatsApp icon.
I'll directly get a text from here.
We provide them with consultation directly on a WhatsApp call.
We send them a presentation and understand their requirement
after which, we do the sampling.
I was constantly in the process of trial and error.
Then I realised that all my orders that had been converted
were only through sampling.
- So... - Do you charge money for sampling?
No, not as of now.
I have a very asset-light model.
Do you manufacture the tiles?
- No. - Or do you source them?
I have approximately 65 suppliers
from whom I buy tiles and deliver them to the end user.
Both, sir.
The price is about approximately 20-30% cheaper.
Secondly,
That's available under one roof
which other stores might offer too, but we have more variety.
Are your customers mostly end users,
interior designers or wholesalers?
I get about 40% of my clients through designers
and the rest are direct users.
How is your business different from your father's?
Yes, you have a website.
We get that but you're in the same business.
- Yes, he sells tiles too. - Yes.
And so do I.
Correct, we're in the same...
- Did your father say something bad? - The target... No.
- Are you upset with him? - No!
Do you want to destroy his business?
No way. He's a big support.
He mainly caters to large quantities.
He supplies to builders.
He doesn't have designer options.
He deals in mass products.
Mine is more customised.
Secondly, when the quantity is small,
he doesn't have the bandwidth to cater to them
but I have that system in place.
Don't you see this as a barrier?
No, sir, because my model
is more customer-service focused
and we provide end-to-end service.
Tiles are such a product...
Suppose you're a first-time buyer and lack the knowledge.
We provide you with proper guidance.
And if you have a reference
or your designers have a theme or reference,
we will even source them for you at affordable prices.
If you permit, I'd like to show you the demo of my app.
for which I have a funding requirement.
The app is not ready.
- Yes, it's a prototype. - You have...
I'll give you a run-through
- which will help you understand my business more. - Yes, sure.
Yes, because your business is a digital catalogue as of now.
Right? You take orders on WhatsApp.
We wish to execute this app in phases.
This section is a list
of all the manufacturers associated with Tileskraft.
Over here, a dealer can use the plus icon
to add whatever categories he serves for a company he's associated with
and place a request.
If the manufacturer approves the request,
that means they are the manufacturer's verified dealer,
and the verification will be complete.
They'll be able to easily see their products category-wise
in the home section.
We are giving a chance
to cut the samples of tiles,
package them
and deliver them to the dealer on-demand when they order,
on which we have a profit margin.
You showed us that a dealer visits the website,
- chooses the manufacturer... - Yes.
The manufacturer will then verify that they are an existing dealer.
In future,
- the dealer will interact with them only through your platform. - No.
- Is that your plan? - No.
We take samples from the manufacturers.
We want to set up our own facility
- I'll give you an explanation. - I don't quite get your model.
- I'm sorry. Just clarify for me. - I'll...
- Yes. - I saw that the dealer applies to the manufacturer
- and the manufacturer approves the request. - Yes.
What's your role?
- I... - They create the samples!
If I enrol dealers and manufacturers on the platform,
I can show them the opportunity about the samples being ordered.
In the second phase,
I wish to open the app to architects, designers
as well as end users to procure samples.
This will serve as a hot lead generation.
So, if for the manufacturer,
a client in Mumbai orders one of his company's samples,
it means this is a hot lead for a retailer from that area,
which we're passing on to them.
as you've to create a whole new channel.
However, if I bring dealers on this platform somehow,
then the data of the dealers becomes very valuable in itself.
Here's what we want.
When the dealer sends a sample, it would be to the end user.
So, our samples will start
reaching the end user without any marketing cost.
Even though the branding is of the company,
but it is sampled by Tileskraft.
Who will you sell the product to on this platform?
The end user or interior designers or both?
Initially, samples will be provided only to verified dealers.
- In India, you have Material Depot and DEPO24... - Yes.
They're doing this on scale and have also raised funds.
- The model has been replicated in India. - Yes.
I don't agree that there are no other players.
If you go to Material Depot and check their pricing and costing,
they don't use a sampling model.
They have a physical presence
and they display their catalogue online as well.
- Okay, I've made my decision. - Decision... Yes.
I think, Bindiya,
firstly,
- I think the opportunity is big in this category. - Yes, sir.
I think where there's an opportunity of price disintermediation
When you bring honesty and transparency there,
cut the middleman and sell directly to the consumer,
that huge price benefit
- is a 10x consumer proposition. - Yes, sir.
So, I see a big opportunity.
The challenge is I think you're overcomplicating the model.
If you bring the dealers in, the proposition ends.
You have to go directly to the consumer.
The main proposition will be price.
Then the model will work.
I think right now,
you need to find the answers to a lot of questions.
Since that's not there, I am out, but best of luck.
Bindiya, there's a quote
that if you don't get a seat at the table, build your own chair.
You saw there were no women in the tile business
and you started your own business.
That is very impressive.
I think this pitch is theoretical as of now.
It's a fundraising pitch for an app that has not yet been built.
Once the app is built,
the business model will be made, product-market fit checked,
consumer repeat will be checked and then, the business will come in.
- Right. - So, you're a few steps away
from a fund-raising option.
Secondly, if you wish to provide these samples
on a large scale for purchase,
- you've to build your own brand... - Definitely.
Whose USP will be that you provide samples.
The model you've picked,
I don't think in the long-term, will provide the consumer
with affordable tiles with good designs and quality.
To solve that,
you'll need to build the supply chain
and backward integration on your own.
Only then your dream of owning
a hybrid tile company will be fulfilled.
I'm out for today but I wish you the best.
Look, do you know what my problem is?
I got to know about Morbi today.
I had no idea tiles were made there.
That's great. You did a good job.
You broke a stereotype, kudos on that.
I don't agree with Peyush
- about selling direct to consumer. I'll tell you why. - Yes.
When you sell direct to consumer, you've to consider other factors.
Consumers don't fix the tiles on their own.
- The most important things are the installation and service. - Yes.
Which glue is being used, what tile goes where...
So, this will be a tough business.
This will only work out as a D2R business for you if it does,
- Even if it is D2R... - What's R?
Direct to retail.
If you sell there,
do you know what problem you'll face according to me?
They'll take the samples, but when it's time to buy,
they'll go to the manufacturer or the wholesaler
and they'll gradually cut you out. That's the feeling I get.
But prove it. We might be wrong.
Just as you proved in Morbi that you could do it.
Similarly, prove to us that we're wrong
- and your business model is efficient. - Definitely.
For lack of conviction, I'm out, unfortunately.
Thank you so much, sir.
Bindiya, you're at the intersection of both the spaces,
ceramics and home construction materials,
and I have a keen interest in both.
I've made investments in both separately.
I believe that the sampling proposition is an interesting one
but I'd call it a thin proposition.
If this sampling proposition becomes strong,
it's a matter of time before everyone starts doing it.
Or if it is not financially viable, then it won't work for anyone.
It is not clear whether this proposition
will be successful long-term
or even be defensible.
I am not quite confident of the business model,
but that does not imply you can't figure it out.
And when you figure it out, please reach out
- because I have a keen interest in this space. - Definitely.
For today I'm out, wish you all the best.
Thank you so much, sir.
Bindiya, what is your revenue?
- Last year, we did a revenue of Rs. 58 lakhs. - Okay.
- I started in 2022 and sales began in June. - Yes.
So, the figure for nine months
was approximately Rs. 35.5 lakhs.
- I made a profit of Rs. 7.2 lakhs. - Well done.
of Rs. 31.66 lakhs.
I have POs of around Rs. 33 lakhs.
- One last question. - Do you believe in God? - Yes.
Then, have faith
that sometimes it is better if what you desire
does not come true.
I think the Rs. 20 lakhs that you're making a year
is a good amount of money for learning
in terms of what model to build.
Whether you build a brand
or make a marketplace model better than others
or you open a showroom,
I don't know what that is
but this is your learning phase.
Don't involve investors now.
Your learning and earning will be finished.
So, take this as positive feedback.
Be at it for a year or two more.
- Evolve the model. - Definitely, sir.
And you will come out shining. You're a star!
- Okay? - Definitely.
- Good luck, I'm out. - Thank you so much.
- Thank you. Bye. - Thank you, all of you.
- Good luck. - And thank you for all the advice.
- Thank you. - All the best.
- All the best.
'I got a lot of valuable advice.'
That will definitely help me succeed in this industry.
- Hello, Bindiya. - Hi, Aashish.
Welcome to the PokerBaazi zone
- where you hold the cards. - Thank you.
- How was your experience? - It was great.
- Great? - Yes.
My personality just fails to make an impression.
She doesn't even remember my name.
She said, "What did you say your name was?"
[laughter]
when you've just started, are hustling and struggling.
Then you have the growth phase
when you've cracked some areas but a lot is left to crack.
The third is the maturity phase when you've cracked everything.
You have success and money coming in.
For audiences at home,
out of these three phases,
tell us a story about any one from your journey.
When I began my journey
in the introduction phase,
I didn't know a lot about business.
I had little knowledge about the tile business
- but not so much in-depth. - Hmm.
My father always said to me,
- "Your client is always your greatest teacher." - Hmm.
And I experienced this personally on many occasions.
From my first client on day one
to my clients to date, I still learn such a lot from them
and have grown because of them.
So, I think this is a thing
- which is extremely valuable to any entrepreneur. - Absolutely.
And basically, the customer is king.
In your introduction phase,
which is your starting phase,
with a total prize pool of Rs. 100 crores.
If you're a master of skills and strategies like her,
log on to the PokerBaazi app, strategise and make a winning hand.
Go and download the PokerBaazi app now.
[theme music playing]
[theme music concludes]
"My Kanha looks even more adorable in your jewellery."
"Your love shows in your jewellery."
"The Goddess is having you make what She wants."
This is what our customers have to say about us.
- Radhe Radhe, Sharks. - Radhe Radhe.
I'm the founder and designer at Krishnsakhi.
At Krishnsakhi, we make jewellery for idols.
of expressing my devotion to God.
Sharks, it is said that if you worship Lord Kanha,
build a relationship with Him.
I look upon Kanha as my friend
and thus, I became Krishnsakhi.
I've faced many difficulties in my life
but God inspired and guided me from time to time.
At Krishnsakhi, we make jewellery for idols with utmost devotion.
Gradually, the demand
among my friends and family increased.
I realised this was a sign from Lord Kanha
that a new door had opened up.
Today, 47 women are associated with Krishnsakhi
and my devotion.
My team and I
have adorned the idols of over 15,000 temples
with our jewellery.
My son Vijay
supported me in this project.
I didn't have the courage to come here alone
but thanks to my customers and their faith in me,
I stand here before you today.
The market of jewellery for idols in India is huge
but it is completely unorganised.
I don't wish to compete with anyone
but I want everyone's idols to be adorned with my jewellery.
For that, my ask is
Rs. 37.5 lakhs for 2.5% equity.
No matter what your wish or hobby,
take the time to pursue it.
You never know what you might become
like I became Krishnsakhi.
- Champa, welcome to Shark Tank. - Thank you.
- You said you do your work with devotion. - Yes.
That I think is very important.
Tell us a little about your journey
and how you started this.
I asked God for a goal in life.
I asked to be granted a goal after I attained a certain age.
I was passionate from the start.
I learnt a lot from my mother.
I started this in 2011.
I registered with Craftsvilla
but it didn't click.
In 2017,
I started selling it properly on Amazon.
I used to make Rs. 1-1.5 lakhs a year
which I'd donate to charity.
In 2023,
I told Vijay
that the demand was rising
and that I should make this available to more people.
Then, he made a website.
When the website was up, I was happy as my reach had widened.
Did you watch Shark Tank?
I did watch Shark Tank.
Did that give you the idea to do something?
Then I started. I said...
I wanted everyone to have access
and all the idols to be adorned with my jewellery.
I'd always try to...
From home itself,
I spoke to the priest who performs the service
at Shri Banke Bihari Mandir, Vrindavan,
through Facebook and other channels
and eventually, adorned the idol there.
Did you ever get this feeling?
"I'm starting a business at this age."
"What will happen? How am I going to get sales?"
No.
Making the products was my job.
I could manage low volumes using a mobile phone.
After the website was built, the workload increased.
For instance, running ads on Facebook,
Shopify and other things.
- I didn't want to handle that. - Wow.
- I told Vijay to oversee it. - Hmm.
I handed the finance and business part to him.
Well done.
- Thank you. - I'm glad to hear the word Shopify!
You know about Shopify!
No, I do all that too.
What other words do you know?
Have you... [giggles]
Facebook advertising, Instagram or any other?
Facebook Meta... I have to advertise on Meta now.
[laughs]
Way to go, auntie. Fantastic!
You mentioned that
Krishna's idol at Vrindavan is adorned in Krishnsakhi's jewellery.
Yes, right.
So, this isn't your passion but rather devotion.
As I said, I asked God for a goal.
Are you able to see this as a business though?
- It's a mix of both. - I see.
Business as well as devotion.
If I look at it as devotion,
- it'll be confined to me. - Right.
If I'm taking this to others,
it'll take the form of business, am I right?
Alright.
And is Vijay doing this with you full-time now?
Yes, Vijay is.
I have a request. I'd like to call Vijay.
- Yes! - Yes, of course.
Vijay!
- Vijay! - [laughter]
- Hi, Sharks. - And here's Vijay.
Hi, Vijay. How are you?
What's your background, Vijay?
I have 20 years of experience in product and gaming.
Oh! [chuckles]
I started my career in films.
- I first worked in 'Don 1' as an assistant art director. - Wow!
And then I worked for another film.
I've worked at EA twice.
- I've worked with EA Sports two times. - As?
- I was a producer there. - Okay.
For games. Mobile games.
What did you do after EA?
After EA, I worked with Reliance Games.
- Then I worked with EA again. - Okay.
Then I worked with Vedantu twice.
I was in Canada for a year too.
After Vedantu, I've been working with Mom.
Have you stopped? Will you stop at this?
I'm here for now.
- For now. - Ma'am, do you think you can retain him?
- No... - He's a hard man to catch.
- Mom! - Auntie said, "Stay or I'll whack you!"
He has to do this.
He has to set my business up.
He's free to do whatever he wants after that.
Champa, is there something like
the jewellery that is used to adorn idols
must have certain metals or gems?
Or silver or gold?
I don't use silver and gold.
Normally, it's all artificial.
Where is your distribution now?
Do you sell fixed products or is it made-to-order?
We've got different categories on the website.
Vijay will take you through them.
These are some of our best sellers.
We noticed that our bundles were doing very well.
And we tested out some of the prices
and this was a good fit around the willingness to pay aspect.
After adorning their idols with our jewellery,
our customers send us pictures.
If you scroll further down,
you'll see different categories for sizes.
You can check the size here.
For instance, the front length of the necklace is till here.
Do you sell on the website or is it through telesales?
- How does it work? - No.
The whole thing is driven by our website and Amazon.
Great. Thank you, Vijay.
Vijay, stick around.
He already said that he'd stick around till the foundation
and help stabilise it.
- And... - How long does it take to make?
- Who designs these? - I do.
So, you design all the products.
- I design them myself. - And...
Or a day? Any one.
Shopify has more orders.
Take us through it.
In the first year, our annual revenue was Rs. 47 lakhs.
- We had a profit of Rs. 9 lakhs. - Well done.
This year, we've already done Rs. 80 lakhs.
- Already! - Wow!
Rs. 21 lakhs and Rs. 10 lakhs.
What's your projected revenue?
This year, our projected revenue is Rs. 1.5 crores.
is an unorganised market.
Where do they buy from?
If people are going to Vrindavan, pilgrimage or a temple,
they buy it from the offline market around.
There are many small players on Amazon.
What is our differentiation?
Our pricing is exclusive.
- Is it less or more? Okay. - More.
There is no one who does design or work like we do.
In what way?
In terms of design and quality.
If you do an online search on Amazon,
then you will notice the Krishnsakhi necklace.
Aunt, you must have
made a design.
But if that design is a hit, people copy it.
I don't care.
But it does affect the business.
It affects the business when you don't give good quality.
You are right.
Your website
is fully dedicated to God's jewellery.
Are there more dedicated websites like this one?
No one has a specific focus on jewellery.
They have more categories.
They also have veneration essentials, even idols.
I have invested in Sri Mandir.
- He is a friend. - Okay.
- Is he your friend? - Yes.
They sell veneration essentials.
But I haven't heard of jewellery.
This is quite interesting.
Do you have any idea
how much revenue a major player generates in this?
I'm trying to grasp its scale and level of organisation.
I did some research online.
The TAM is USD 55 billion in 2023.
It involves all the categories.
But we were unable to get data on jewellery specifically.
Have you tried...
Sri Mandir has monthly active users
somewhere between 5 to 10 million.
Did you try to partner with him and sell it through him?
I spoke with the founders of Sri Mandir.
We have a mutual friend.
That time, he said
he wanted to take some time and come back.
Now you have another common friend.
- Okay, thank you. - Tell me something,
do you rely on marketing, or is it purely word of mouth?
95% is inorganic.
Around Rs. 4 lakhs is marketing...
Our average order value is Rs. 1,300.
Rs. 200 is COGS.
Very good gross margin.
Rs. 10 is packaging.
The platform fee is around 4%, COD,
Razorpay and all of this.
I mentioned 3% GST.
The CPA is Rs. 600. That's all.
You've hired people, how much do you pay them?
It is on a per-piece basis.
- That's included in Rs. 200. - That's COGS.
Your numbers aren't adding up. You mentioned your profit.
If you're making Rs. 30 lakhs from Rs. 1.5 crores,
that's a Rs. 20 lakhs profit.
20%, sorry.
According to your unit economics,
your profit is 33%.
He must not have shared all the expenses.
600 CPA, 200 COGS,
Rs. 10 packaging, and around 4% GST and other costs.
Rs. 100 shipping.
Rs. 100 shipping. If I add that,
your total cost is Rs. 950. You are left with Rs. 350.
In that case, your profit is approximately 30%.
Not 30%, 28%.
Do you withdraw money from your company
- for personal use? - We withdrew around Rs. 3 lakhs.
Okay! There are some missing numbers. Please look into it.
Pull his ears and teach him a lesson.
I have the accounts.
He doesn't have access to it.
Your numbers are not adding up.
But let's move on.
What do you want from us?
And how will you scale?
Honestly, I've never run a business.
This is my first business and that too because of my mom.
We've built a product and established a solid foundation,
but we haven't worked on branding so far.
We want to focus on our brand through content.
We want to partner
- with influencers. - Understood, it's marketing.
Aunt, may I ask you a question?
Have you observed how investors operate?
They expect clarity on what's coming next
and how they will exit.
Why do you want an investor? Your business is doing well.
- The business should grow. - Yes.
We've reached a certain point,
but to elevate it, we need to take more action.
The profit you make this year
will be equal to the amount you're raising.
- So... - I want her to speak, Vijay.
- Money is never enough. - Yes.
You need money.
It will help me in my business
and for those joining me,
I can provide the right environment,
make space for them
and give them more work.
What were you saying, Vijay?
We want to do more marketing.
I don't withdraw a salary,
it's been more than 1.5 years.
- We are not going to pay you. - No, I am not coming to that.
- I am... - How much salary will you take if you receive funding?
I don't withdraw a salary now.
But after funding?
I wouldn't draw a salary at first after receiving funding.
By doing that, I'll be an added expense for Krishnsakhi.
So, the money we get will be invested in Krishnsakhi.
We want to grow our inventory.
We have listed out a growth plan.
What is the current working capital,
including inventory and everything?
We have an inventory of around Rs. 20 lakhs.
I think the true purpose of Shark Tank is coming to light.
One of the answers you gave really appealed to me.
When we asked what you will do with this profit,
it was evident that you aim to make the lives of people
who are working with you better.
And honesty and authenticity
are coming out in every aspect. Even from you, Vijay.
So, I would highly recommend that you stick to this.
You have to decide how much you want to commercialise this.
Once commercial financial investors
enter this, they would want to commercialise it more.
And there could be a misalignment there.
I am out now because I think you need to do that thinking.
I don't think you should raise money today.
- Thank you. - Thank you.
I don't think that in this category,
the power of brands will play out like this.
We decorate God out of devotion,
and not because we purchased from a particular brand.
So, I don't think this business requires capital.
Except for marketing.
And spending more than
600 on marketing will be too much.
Run this profitably.
I am out today. Best of luck.
I liked this.
I had the privilege of seeing God.
Along with that, I got to learn that this could be a business.
I never thought of this.
What's special about Shark Tank
is that we not only teach people but also learn from them.
The way you're working with such passion,
growth is inevitable.
This could turn into a distribution game.
The online platforms that are capturing monthly active users,
if we form strategic partnerships with them
and offer a good margin...
We have a good margin. You haven't estimated it this year,
but around Rs. 50 lakhs will remain for you.
I think it can go 10x from here.
So, I am happy to introduce you to those people.
Take my phone number.
But just like the others, I don't think you need investors.
- So, I wish you all the best. But I am out. - Thank you.
Vijay, focusing more on
digital and performance marketing
could help you gain more success across other marketplaces.
So, I wanted to support you today
because I see my mom in you.
My heart says yes, but my mind says no.
I don't think it's a good idea to bring in investors.
Today, I am out.
But if you ever need help,
- you should reach out to me. Thank you. - Thank you, sir.
Aunt, your business is good.
This is a noble act.
I hope that your business does well.
Vijay, I think,
if you do this seriously,
this could be a good brand.
You will also get investors. I don't think
you won't get investors. It is possible.
Unfortunately, I will be out now.
Thank you, Aunt. This was fun.
- Thank you, Ms. Champa. - Thank you, Vijay.
- Thank you. - Thank you, bye.
'It was a big deal for me to be on this platform.'
The experience we've gained
will certainly prove useful, and we know exactly how.
With everyone's suggestions in mind,
we will have to tweak our existing system
to go to the next level.
- Hello, Mr. Vijay and Ms. Champa. How are you? - Hi.
- All good. - How was your experience?
It was amazing.
- Was it good? - It was.
The vibe was so sweet on the tank.
Is that because you eat a lot of sweets?
Yes, I do.
We need sweets after every meal.
- Is it a must? - Yes.
I guessed that you eat sweets a lot.
I ordered sweets from Swiggy Instamart immediately.
I have ordered things according to me. What do you like?
- Gulab Jamun. - Gulab Jamun?
Friends, sometimes I am right.
Also, because I ordered four things, hoping one would be right.
Look, it was delivered in 10 minutes.
Thank you so much. Here you go.
For the safe side, I ordered Kaju Katli, laddu,
and Gulab Jamun.
So, thank you so much for giving your time.
If you want to eat something sweet, open Swiggy Instamart
and you will get everything there. It will be delivered in 10 minutes.
Order 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]
- Greetings, Sharks, - Hi!
My name is Rahul Bakare.
Sharks, water is life,
but if this life-giving water is not available,
thousands, even millions of people in India face tremendous challenges.
There are approximately 4 crore reported borewells,
out of which 54% are on the verge of running dry.
There are many groundwater layers underground.
The rainwater quickly fills the upper layer.
However, it takes several days for the water to reach the lower layers.
It may take thousands of years to reach depths of 200-600 feet.
However, borewells are generally drilled between 200 to 600 feet.
The casing pipe in the upper layer of the borewell
prevents the lower strata from being filled with water.
When we extract water from the borewell using an electric pump,
the water dries up quickly.
This is why borewells dry up.
- I am a hydrogeologist, a scientist who studies groundwater. - Wow!
We thought we should use our knowledge and experience
and find a solution.
This is how we started BoreCharger.
Sharks, BoreCharger is a robotic, patented,
smart water harvesting technology
We use an underwater camera system to conduct an angiography
of the dry borewell.
Then, our patented robotic tool enters the borewell
and creates an opening from the inside,
allowing the water from the upper layer to flow in easily,
helping to refill the lower strata with water again.
recharged 4,000 borewells across India and Africa
We helped restore 500 crore litres of water
in these borewells.
This is just the beginning.
Our goal is to take BoreCharger to every corner of the world.
And our goal is to recharge 1 lakh crore litres of water every year.
For this, our ask is Rs. 75 lakhs for 1.5% equity.
Because if there's water, there's hope for tomorrow.
Tell us your history.
I am a mechanical engineer.
I did my MS in Computer Science and Mechanical Engineering
in the US at Michigan State University in 1997.
After that, I came to India
and worked in Hyderabad for 6 years
in an online gaming startup.
While working there, I understood
I am interested in social development
compared to software development.
That's why I worked with Rohini Nilekani
at Arghyam Foundation for 5 years as Grants Director.
While working there, I understood
that groundwater is a major problem in India.
But there are no organisations that can solve the issue
- professionally and scientifically. - There are less organisations.
That's why I started our organisation
called Urdhvam Environmental Technologies.
And this is for profit.
- This is for profit. - This is for profit.
- Tell us your history. - Yes.
- Mr. Vinit! - I am...
I am also a geologist.
- What? - Geologist!
- Geologist. - Okay.
I did my first Master's in Geology.
I did my second Master's in Hydrogeology.
I did that in Germany from Tübingen University.
Now, it has started at IIT Roorkee and IIT Kharagpur.
Actually, the irony is that
80% of India relies on groundwater.
Well done! After seeing you,
many people might be inspired to do this.
Where did you meet him?
When I thought of starting the company,
we were introduced by a common friend.
I met Vinit, who studied in Germany.
I did speak with a couple of them,
and they agreed to join us later.
What roles do you play?
I am the CEO.
He handles the technical aspects.
I understood what you do conceptually.
But I don't know in detail.
So, can you explain it in very simple terms?
- Yes. - Thank you.
Underground, there are multiple aquifers at varying levels.
As rainwater pours,
it swiftly fills the uppermost layer.
When the driller drills
into the upper layer, the first hard rock
of the topmost aquifer, they insert an impervious pipe.
- Okay. - Known as the casing pipe.
That pipe is inserted
to prevent the upper layer's soil,
sand, or small pebbles from falling inside,
ensuring that the borewell doesn't get blocked
- or collapse. - It shouldn't collapse.
I can drill a new hole in the borewell and insert the pipe.
- Yes! - You can do that.
But there is a reason why they don't do that.
In the market, a perforated casing is available,
but it is 4-5 times more expensive compared to a regular pipe.
So, people refrain from using it.
The second thing is that the driller
knows that this borewell
is going to dry up after 4 years or so.
This customer will come to me and say that this borewell was good,
so install a deeper one next to it.
So, they don't want to harm their future business.
What is your solution? What do you do?
Our solution is to insert an underwater camera system
and conduct a borewell angiography.
This allows you to see that
water may have been coming from there earlier,
but now it has dried up.
- Similar to heart surgery, is a bypass performed... - Angiography!
- You make a hole. - Yes, so...
First, we conduct an angiography
and then our patented robotic tool goes inside
to perforate the casing pipe at an appropriate hydrogeological depth
- by creating slits in it. - Perforate.
- So, you have created a bypass. - Yes.
- We perform angioplasty. - Yes.
So that the filtered water from the top layer,
free of sand and soil, enters the borewell
and directly falls 200-600 feet down.
So, the lower aquifers
readily absorb the water like a sponge
and we convert the existing non-performing borewell
back into a performing asset.
Water is flowing down through this pipe
and then being pumped, pulling from all three layers.
- Yes! - Have you received a patent?
- Yes, we have a patent. - Is this the first of its kind?
Yes, it's the first of its kind in the world, the first for water.
There is a similar technology for oil
but it is quite advanced and expensive.
Who are your customers?
Anybody and everybody who has a borewell.
And who has less water or
- dried up... - How do they find you?
Either through Facebook or the website.
We also perform many campaigns.
- But do you sell the machine or service... - It's service.
- You repair it and return. - Currently, it's service-led.
if we sell machines. But we don't sell machines.
To scale this up, we are moving towards franchising.
- It's about the repair and upkeep of borewells. - Yes.
- Correct? - Yes.
- You are the only one in India who is doing this. - Yes.
When someone's borewell gets damaged, what do they do?
If that is the case,
- they install a borewell. - They give up.
What is the cost of making a new borewell?
It can cost around Rs. 80,000
to Rs. 18 lakhs.
What is the structure of the rocks
and how deep the borewell is?
Based on that the rates are decided.
How much do you charge for one service?
We charge between Rs. 25,000 to Rs. 40,000.
We have been developing the technology since 2017.
that we are planning to expand it to Africa and Australia.
How long did it take to recharge 4,000 borewells?
You can say we did that in the last 2-3 years.
You repaired 4,000 borewells,
did all of them get fixed?
Our success rate is around 95%.
- after putting in the money. - Where they yielded no benefit.
Is your lifetime revenue around Rs. 13 crores?
Lifetime revenue would be around Rs. 8 crores.
We charge around Rs. 40,000.
What expenses do we have?
It's around Rs. 12,000 approximately.
where we have kept borewell machines and operators.
- You take it on a truck... - Yes.
Once you finish the job, you bring it back.
How much revenue did you make last year?
- Last year, we did Rs. 3.22 crores. - Wow!
How was the year before that?
- Rs. 2.7 crores - Rs. 2.78 crores.
How much will you make this year?
In 2017, we raised
convertible debt from CIIE, which is part of IIM Ahmedabad.
Three years ago, we raised an equity round.
How much did you raise?
We raised Rs. 1 crore.
At what valuation?
How much money do you have in your bank now?
- We have Rs. 45 lakhs in our bank. - Rs. 45 lakhs.
Tell us about the market.
How many borewells are in India and how many are non-performing?
On paper, there are 4 crore borewells.
- 4 crore borewells? - 4 crore!
Unofficially, experts suggest that there are Rs. 6-8 crore borewells.
- By 2030, more than 50% will go dry completely. - 54%.
Doesn't the government help in this?
The government is helping.
We are a part of AMRUT 2.0.
as one of the solutions for better recharging.
Through the Ministry of Urban Development, we have
recharged 400 borewells in Latur city,
where, 6-7 years ago, water had to be supplied by train.
According to the government's study,
if an area
is extracting more groundwater than what is being naturally recharged,
it is called a dark zone.
In the dark zone, they do not allow any new borewells to be drilled.
- Okay! Otherwise, borewells are legal in many places. - Yes.
- And illegal and in some. - Provided...
Provided you are also harvesting rainwater.
- Yes! - Correct.
You will also need to input water.
Why is the government against borewells?
The thing is we are trying to take out water
and not putting the water back.
Our solution is exactly on that path.
Taking water from the ground or putting water into the ground,
Yes, for the time being, it might be a good solution.
But this doesn't look sustainable in the long term.
Since you have taken the water out from below and emptied it,
now you are putting it back from the top and then pulling it again.
Eventually, the top will become empty as well.
When we make a hole in the borewell,
the water from the upper layer cannot reach inside.
What you're saying
is that a lot of water on the top layer,
just below the top layer,
is wasted because
it can't be extracted for use.
It's simply sitting there.
So, instead of extracting water from the lower earth,
you should use the water from the upper earth.
If the water from the top layer is not used,
it will eventually
flow downwards to the lower levels due to gravity.
That takes a lot of years.
Sometimes, it flows as a stream or spring,
becoming surface water, and then moves towards the sea.
Right? So, we are saying
that the water present in the upper layer,
which can flow towards the borewell,
should be used for smart rainwater harvesting,
directing it downwards.
I understood. The government is against
bottom earth water extraction.
- Absolutely. - They have no issue with upper earth extraction.
- No! - In fact, if they fully understand this,
they should be encouraged to implement it.
- Absolutely! - Yes.
What do you want from the Sharks?
Sharks, our model is Company Owned Company Operated.
But if we want to scale it, then we will have to explore
2-3 options like franchising.
So that you don't have to invest.
What will be your revenue
Yes! Our technology is being developed.
What?
In three months' time, our tool will be ready and franchisable.
As a pilot, we tried this, this works.
Vinit and Rahul,
I think you haven't even tried
the franchise business you want to start. I don't know
whether it will make money or not.
How will you set it up and manage it?
Unfortunately, you have not tried it, so I am out.
You should give it a try and grow.
- Thank you. - We will meet in the future.
- Yes. Thank you. - Certainly! Thank you.
Because eventually, your revenue model will be the machine.
You don't have control over the revenue.
I don't know why you need money in this business
and how I can help you.
For that reason, I am out.
I like the proposition. In fact, I love the proposition.
But the biggest issue that I am seeing
is that you are saying there is no risk from the government
because you can recharge this.
But I think there is a regulation risk.
I don't know much about this industry,
agriculture and government
to underwrite this risk
or understand how to measure it.
I think I am out for now.
You are looking for a capital of Rs. 75 lakhs,
but the use case is not clear.
Because your model is a cash-positive model.
And I don't know how I will be able to help you.
So, I am out.
But I am very happy
that after watching this, millions of farmers will learn
that they can make their borewells
a performing asset.
So, the awareness you were looking for
- will be solved today. So, congratulations on that. - Yes.
- Thank you. - Thank you.
Where has the government prohibited the drilling of borewells?
- It's in bits and pieces. - There are patches.
- It's banned in Delhi. - Yes, it is.
This means that we can't recharge there.
- We can do that. - We can absolutely do that.
- That is allowed. - Are you sure you can do that?
You can't drill a new borewell to take out water.
Are you sure that the government office won't bother you?
- No! - No way!
We have read in newspapers
We have to restore our ecology.
Second, the founder market fit might not be stronger than this.
There are very few people in the country
who can even think of this business,
make a product
and generate a revenue of around Rs. 5 crores.
But there is a lot of risk in this business.
There is still a long journey ahead in this business.
So, by keeping that risk in mind, I want to give you an offer.
[music playing]
I'll invest Rs. 75 lakhs for 10% of the company.
We would like to give you a counteroffer.
Yes, tell us.
Rs. 75 lakhs for 2.5% equity.
At that valuation, I would not do it.
- Sure. - Okay.
I respect your offer.
- Wish you all the best. - Very nice pitch. Good luck!
- Do well. - Thank you.
[music playing]
Welcome to ACKO Change Makers, where we really welcome change.
We saw the beautiful portrayal of it on our change makers wall.
Our change makers of the day are Rahul and Vinit.
- How are you, sir? - Excellent.
I saw your pitch. You are genuinely doing a good thing.
What you are doing is important. Our country needs it.
- You are working on the quantity and quality of water. - Absolutely!
We know how important this is for farmers.
You are doing very important work by increasing the productivity
of their borewells and boosting farm output.
I have a question for you on behalf of the audience watching.
What change can they bring in their day-to-day life
to conserve or harvest water better?
A lot of people visit restaurants
and ask for a glass full of water,
- but they drink half of it and throw the rest. - Yes.
Make such small changes.
If you need half a glass of water,
then that is what you should ask for.
Because the water that comes is sourced from far away,
the government has to treat it extensively.
And when you receive it through pipes,
a lot of energy is consumed in the process as well.
There's a connection between water and energy that we don't always see,
but it is always present.
If you live in an apartment, you need to pump water
from the ground to the tank on the top.
If you are wasting half a glass of water,
then instead of wasting it, pour it on a plant
or use it for something else.
But don't throw it away.
If you do, it will end up in the sewage treatment.
- Yes. - Then, the load on sewage treatment will increase.
You gave a good answer.
You are bringing an important change. A crucial change.
- We really appreciate the change that you are bringing. - Thanks.
Similarly, ACKO with its revolutionary offering,
is bringing a change in the insurance landscape.
While buying a car, just buy a car from the showroom
and not car insurance under pressure.
Buy car insurance from ACKO and save Rs. 36,000.
We want to appreciate your change
and give you a gift from Shark Tank and ACKO.
Thank you.
[camera shutter clicks]
Jaquar presents Bringing Good Ideas To Life.
We got to see a new wave of entrepreneurs in Shark Tank India.
Entrepreneurs who are setting new trends with their ideas
and solving major challenges.
Some are working to organise their industries,
while others are creating new opportunities and categories.
Just like our sharks.
Can't recall?
No worries, let's take a look.
[upbeat music]
'I interacted with textiles'
'and created a beautiful Sargam with them.'
'Would you believe me if I told you'
'this was handcrafted by Indian artisans?'
'E-textiles or electronic textiles are fabrics'
'embedded with electronics to make them interactive.'
'Fantastic that you're bringing such a new concept to India.'
'What is your dream?'
'If we fast forward 10 years, what does success look like?'
'When we talk about smartwatches, Apple comes to mind.'
'Tomorrow, if we talk about e-textiles,'
'- I want Anuvad to be the first name people think of. - Fantastic!'
'Singh Dental Care is a super speciality chain of dental clinics'
'providing standardised dental healthcare'
'at affordable prices'
'by specialised dentists, with full transparency.'
'Whether a patient is rich or poor, we charge the same procedure.'
'My whole idea is that if I want to serve the masses,'
'I need to make healthcare transparent,'
'relatively affordable,'
'and standardised by specialists.'
'I want to provide people with a great user experience.'
'Nanighar is an online, app-based food service'
'that delivers home-cooked meals, made by local mother chefs,'
'to your office or home.'
'And this platform gives every mother'
'an identity, a recognition.'
'The food is really tasty.'
'Thank you.'
'- We didn't start this just for business. - Okay!'
'This is for women empowerment.'
'Fitelo is a weight loss platform that helps you achieve'
'a fit and healthy lifestyle through an app.'
'This is what we used to look like.'
'Oh, wow!'
- '- That's you on the left? - Yes.'
'Unbelievable!'
'When I was 17, I weighed 118 kilos.'
'People called me 'fat' more than they called me by my name.'
'If you haven't been through it, you wouldn't understand.'
'We've created'
'a unique powdered formula with'
'expert nutritionists and food technologists'
'that adds vitamins, minerals,'
'fibre, probiotics,'
'and Ayurvedic herbs to your food'
'without changing its taste, colour, or smell.'
'You fooled us.'
'We're actually fooling everyone.'
'I love this, revenge on the kids.'
'Yeah!'
'Tribalveda doesn't just process Java plum,'
'but also seasonal fruits like custard apple'
'to create products.'
'Right now, we're working with'
'over 5,000 tribal women in Rajasthan,'
'processing nearly 5,00,000 kilos of wild fruit every year.'
'We want to create employment opportunities'
'for our tribal communities.'
'With your talent, you've made it to Shark Tank today.'
'So I just want to congratulate you,'
'what an incredible journey.'
'People across India will be inspired after seeing you today.'
[heroic music]
Every pitch has proven one thing.
Proudly Made in India for the world.
Just like Jaquar.
The question we've received is from Bharat, 35 years old.
Bharat, great question.
Many times on Shark Tank,
we see multiple companies from the same category.
Whether it's home care or makeup,
- which we've had quite a few of. - Yes.
People often think
we won't invest in competitors
or in companies competing
with our co-sharks' investments. But that's far from the truth.
For example, we've invested in two makeup companies.
Well, great question. And yes, that's it.
- Thank you so much for the answer. Great insight. - Thank you.
See you next time on Ask the Shark with a new question and a new shark.