'In Shark Tank India, the one who will join today'
'is the tech guru, visionary businessman'
'the CEO and the founder of Lenskart'
'Shark, Mr. Peyush Bansal.'
If I am investing outside
it should solve a bigger problem.
Otherwise, I am not interested'
'in 10 per cent to 20 per cent return.'
'Pitchers are presenting business ideas one after other.'
A small kid consumes plastic
equal to a credit card in a month.
Then we coined on Nimbull.
'Those ideas which will impress Sharks..'
Ironman's suit will be prepared after that?
We are representing our male intimate hygiene company
- Nuutjob. - Women are taking charge.
They have no patience.
Rs. 50 lakh for 10 per cent.
I match his offer. Even I am impatient.
You are supposed to make a technology company.
Pharma has no role in it.
No, pharma has a big role in it.
If someone opens and finds a toy
he will be surprised.
After that, we will go to US.
After that, we will go to Europe.
After that, we will go everywhere and sell it.
He will fix a Boat speaker with your toy.
The soul of the Montessori will be shaken.
This fruit has no seeds.
It's eaten after peeling.
Why should one eat just one
when it is sold in dozens?
Answer.
Oh, hello! Answer me.
Hi, Sharks.
Today, I will introduce you to an interesting character.
Mr. Greasy.
He prepares banana chips in a local shop.
He doesn't care for quality.
He uses the cheapest bananas and oil
and prepares chips in a cauldron.
And he reuses the same oil for two months.
He cuts bananas without gloves.
And he wipes his hands on his dirty and wet lungi.
Sometimes, his sweat mixes with it.
But he sells that as 'Namkin' punch.
Sharks, people are upgrading to a better lifestyle.
But in the market, only potato and flour chips are available.
Otherwise, worse than those
chips prepared by Mr. Greasy.
Enough is enough!
It's time to change this.
But what we need before that?
We need to get rid of Mr. Greasy.
And it's time to improve the quality.
Introducing Beyond Snack, Kerala Banana Chips.
And who better than a Malayali to tell you about banana chips?
Sharks, my name is Manas Madhu.
I am from Kerala. I am 36 years old.
So..
Take your time.
Would you like to drink water?
No, that's fine.
I have been an extrovert since my childhood.
But my dad wanted me to do a regular job.
I listened to him. But I was not happy.
I was travelling one day.
I saw a farm.
Bananas were getting wasted outside a farmland.
What's the wastage percentage of the entire production?
More than 40 per cent gets wasted.
Because no one comes. What shall we do?
It came to my mind that banana chips are our emotion.
I should do something.
When Manas wanted to start his business leaving his job
he was very nervous
fearing if it would work out or not.
Then my wife gave me a good news
that we were expecting a child.
It made me very happy.
When he learned about my pregnancy
he took it as a positive note.
I felt that I was on the right path.
Because the God gave me a signal.
But it's my dream to take this to global stage.
But how would I fulfil my dream?
Hence, I have come to Shark Tank India.
So that I can fulfil my dream.
Sharks
our chips are healthy, tasty and hygienic.
And these come with same thickness.
There are four flavours available in the market.
Our chips are trending on Amazon and Flipkart.
- Why don't you try some? - Yes. - Sure.
I don't know whom I should look at.
Even he was speaking in an animated way.
Sharks, in just 1.5 years
we've prepared and sold chips from 140 metric tons of bananas.
It's my dream that in Indian retail market
a packet of Kerala banana chips
will be seen with a packet of potato chips.
And to fulfil my dream
today, I'm offering 2.5 per cent of my company equity
for Rs. 50 lakh.
Who wants to come on board with us
to make Beyond Snack, Kerala Banana Chips
India's favourite go to snack?
Sorry, I was too busy eating. What did you ask for?
2.5 percentage for Rs. 50 lakh.
Thank you, Manas. I must praise you.
The way you made an entry was brilliant.
- Thank you. - Its taste..
The taste is good. But can't others
make the same taste?
- Do you follow a special process? - No..
See, it's not a process. It's just the standardisation.
Good food scientists can easily figure out
what the standardisation is
- when behind this particular.. - You have standardised it.
- Yes. - Did Lay's approach you?
They will come.
He is saying.. 'They will come..'.
- You are confident. - Yes. - The plan is
to establish it as a national brand in next two years.
And it's very easy. I mean..
How much will you sell in next two years?
See, we are planning to make it a company worth Rs. 100 crore
in two years. - You want to make it a hundred crore company.
- Are you sure? - I am sure.
Doesn't anyone else prepare this?
You are the only one who makes banana chips?
No, many people prepare banana chips. - Yes..
Now, 99 per cent of them are prepared locally.
- Locally? - Locally.
There is no branded, national player?
See, Haldiram's has banana chips.
Balaji also have banana chips.
But they are not banana chips specific or..
They prepare other things too.
They prepare other snacks too.
But the other way is.. What Lay's does.
Like PepsiCo.
Even a category is synonymous with the brand name.
If you walk into a shop, in your mind
you are thinking potato chips.
But you ask for Lay's.
- Right. - I want that.
Manas, we eat banana chips in Delhi.
It is hardly available in a packet.
It is available in a normal packet..
- Transparent. - They put a small chit inside
- written it's banana chips. - Yes, correct..
Both taste the same, like normal chips.
How come it's different from that?
Taste.. Okay, let me tell you.
First of all, when you are eating chips
are you eating with front teeth
or with backside teeth?
- How do I find it out? - Okay, I will tell you.
If you take it and bite with front teeth
this means, it is easy to teeth. It feels better.
Otherwise, it will directly go to your mould
what happens.. It's hard.
So you are not going to bite with your front teeth
it is hard, right?
- If you.. - Hold on..
- Let me make an experiment. - Yes. - He is right.
- He is right? - Yes.
- I used to eat wrongly? - Your chips
are thinner than normal banana chips. - Correct, exactly!
Small in size. - I was going to.. - Unique flavour.
We slice bananas very thin.
I think you are very passionate about this.
You think around the clock
to make it better.
It's a good quality.
How much money did you invest in this business till now?
We have spent more than Rs. 70 lakh.. - Your own money?
Yes, my money. My father is also involved.
- So he invested money too. - What's your monthly sales?
- Rs. 20.6 lakh. - Rs. 20.6 lakh. - Rs. 20. 6 lakh - Which month?
Last month. The very last month.
Please tell me sales mix of these four options.
The most selling is 'Original Style'.
- The salted one. - What's the percentage?
- 50 per cent. - 50 per cent - Yes.
'Peri peri' flavour is 30 per cent.
Both 'Salt and pepper' and 'Cream and onion'
are 15 per cent each.
Manas, I was seeing the pricing.
It costs Rs. 60.
If it costs around Rs. 30, it is sold very fast.
The moment something costs more than Rs. 30
it becomes a niche product.
What do you think?
Will you be able to reduce the price
and make it a mass product?
Or will it remain as a niche product?
I will tell you the plan.
We are going to launch Rs. 30 packet.
Now, we will focus on A class category shops.
As you said, people hesitate to buy
since it costs Rs. 60.
It will reduce
because people will try more with Rs. 30 pack.
And if they like, they will buy Rs. 60 packet too.
Can you bring it from thirty rupees to ten rupees?
We can do it in the future.
For that we need more volume..
Right now, we are enjoying a good gross margin.
How much is the gross margin?
We are enjoying 55 percent online.
And in retail, we are enjoying 48 percent. - Wow!
Is hundred percent of the company yours?
Yes, it is owned by my father and I.
And the 70 lakh rupees invested was your own money.
Yes, it's mine and my father's money
if you are asking about the money that we put in.
You came up with an estimate to raise 50 lakh rupees.
- Yes. - Where do you want to use it?
Would you be able to do branding with this money?
Or would it only be for the trade channel?
Right now, we are not focusing on branding.
We are making it available.
So, this money will be utilised to spread it across Mumbai.
And along with that, we will replicate this
in entire Maharashtra, Gujarat, and Delhi.
The reason is that since we are doing online sales
we learned that 70 percentage of the total sale
is actually happening from the North Indian parts
starting from Goa, and Mumbai.
That was a very shocking revelation.
I think that I might make you an offer.
You tell me how much profit do you make.
We had sales worth 60 lakh rupees
in the last financial year.
And we had a profit of six lakh rupees.
It was actually more than six.
So, that's around ten percent.
Tell me something.
Can your gross margin
be 65 percent to 70 percent?
And explain to me how you can do it. - Yes.
If you look at our products so far
you will see that we haven't optimised anything
for the production.
Right now, we are using these 'Nendran' bananas for the chips.
Right now, its yield is 28 percentage.
So, we can increase the yield to 35 percentage.
That will bring more profit.
Which means, the spending is still for a hundred kilograms.
- But what we are getting.. - I understand that.
How far can you take the gross margin?
Easily we can go up to 75 or even up to 80.
- We can do some sort of.. - Can you make it
- to 75 or 80 percent? - Yes, we can do that.
All right, I will make you an offer.
- Okay. - The good thing is that
you have studied the market very thoroughly.
But despite that, I think that you need a lot of help.
So, I can offer you 50 lakhs
for 20 percentage of your company.
Anupam, if you want, I am okay to be a partner on that deal.
Yes, fifty-fifty.
So, we can both come in.
For the price of one, you are getting two sharks.
Together, I think we can build a great company.
You should give us an answer right now. - Yes.
Before giving you an answer for that
let me give you one more information.
So, we have closed a round of 1.4 crore rupees.
Wait a second.
He just asked you earlier
- if you have raised any money. - Yes, and you said no.
He asked how many have invested.
You told us that no one else has invested.
No, actually it was..
- if I have made an investment. - The question was that
if I have made an investment.
I had asked you very categorically that
do you own 100 percent of the company. - Yes.
- Okay, that was my mistake. - It was asked specifically.
- Manas, just to be clear.. - Yes.
Till date, how much money have you raised?
We have raised 1.4 crore rupees
- till date. - No, the 1.4 crore rupees
- is from the external investor. - Yes, that's right.
You have also put in money initially. - Right.
Which was 70 lakhs.
Yes, and after formalising the company
we have put in eight lakh rupees.
How much is the total dilution?
The total dilution is 15 percentage so far.
The remaining 85 is with us.
- We will revise our offer. - Okay.
- Since, you had a round recently. - Yes, that's right.
The least we will go down to is ten percent
- for fifty lakhs. - For fifty lakhs.
Yes, and it will give you the benefit of two sharks.
Mr. Manas..
Mr. Ashneer wants to tell you something.
You have already made me look bad by saying my name like that.
He is going to accept his offer now.
- So, Manas.. - There are only two bosses.
Mr. Ashneer and Mr. Salman.
I think that your business has a lot of potential.
- And.. - Thank you. - The information
which you provided later can be considered
as a communication problem.
Because, you are more comfortable
in your local language and in English than Hindi.
So, I think that you can make it a bigger brand.
So, the original offer which was 50 lakhs
for 2.5 percent will be split between Aman and me.
So, 25 lakhs each for the 2.5 percent.
- Yes. - Cannot compete. - Four times
better offer than yours.
- We will do it. - That's very good. Accept it.
- Fantastic. - You got what you asked for.
Well done.
- We have a deal. - Well done. You have a deal.
But you are not out. You are not out yet. - I am out.
The chips company made with lots of love.
Feed us and the entire world as well. - Thank you so much.
Now you are not going to sell it alone.
- We will sell it together. - Thank you.
Don't cry. Good job.
- All the best. - All the best.
- All the very best. - Thank you. - Looking forward
to eating a lot of banana chips.
- Thank you. - You came out of nowhere
and just took it
- right from under his nose. - You took our deal.
You could have raised it a little.
This is the best thing.
You asked for 2.5 percent.
- Yes, I got it for 2.5 percent. - Fifty lakhs.
- You got it. - I got the same.
Let's see it. Show it.
Do you want to say anything to your family?
Thank you so much for all.. All the people..
That's it.
Greetings, Sharks.
I am Duvvuru Varshita and I am 20 years old.
Greetings. My name is Vimal Kumar.
I am 25 years old.
We are from Hyderabad.
We are the founders of..
- Vivalyf Innovations. - Vivalyf Innovations.
This blood and pain was there throughout these 20 years.
And still it is.
I do this four to five times a day.
I am type one diabetic.
Which means that I was born with diabetes.
I went into a coma, the next day I was born.
Doctor said that I will not survive.
No patient visits a doctor happily.
They come in pain.
She needed injection every day.
And she needed to be tested every day.
So, she used to be very depressed.
Because, she didn't have a normal like other people
who don't take insulin.
When I started taking insulin
my parents couldn't bear to watch it.
They used to got out of the room and cry.
One day, I went to my parents and told them
that I will find a solution for this problem.
Because, this is not just my problem.
In fact, the entire world is facing this problem.
I knew that merely a research will not help with
the product development.
Therefore, I started looking for an engineer
whom I could trust.
I found that idea very innovative and novel.
It was my dream to make a device which would help others.
Right now, our product
is in the pre-clinical evaluation stage.
In order to bring it into the market
we need mentor connect, external connect, market access
and funding.
So, we have come to 'Shark Tank India'
to impress the sharks and get the funding.
We present to you..
'Easy life'.
'Easy Life' is a no blood, no prick, no pain
and one time investment device to check your glucose level.
Sharks, our demand is 56 lakhs
for 7.5 percent equity.
So, Sharks, who wants to team up with us
to make the life pain free for seven crore
Indian diabetic individuals like myself
- with 'Easy life'? - With 'Easy Life'.
- Wonderful. - Thank you.
You presented your point in very emotional way.
As we all know
India is the diabetes capital of the world. - Yes.
So, you have adopted a good cause.
- Congratulations. - Thank you. - Thank you.
How old were you when you made this promise
- to your father? - I was just ten.
- Oh my God! - Were you just ten years old?
- Yes. - Wow!
No father can see their child pricking their fingers
four to five times a day.
And they are pricking. and testing it.
From the fourth standard, I started pricking myself.
One day, I placed it in a wrong way
and it went so bad.
I went into a coma one more time.
I have gone into coma six times till now.
- Six times? - Six times. - My God!
Fifty six days is the longest period.
And two days is the very shortest period
which has been in 2020.
Most of the doctors told that I might die.
- Can this happen to you again? - Yes, sir.
It can happen.
You are very brave, I have to say.
I promised my dad that
I will pass in everything.
- AIEEE, IIT-JEE, NEET.. - Wow!
And I did pass in everything.
- But I passed.. - You passed IIT-JEE.
- Did I hear that correctly? - Yes.
- Whoa! - But did you not go to the IIT?
I went and came back.
- Wow! - I came back in 11 days.
This is the first time that I am hearing this.
I am speechless.
Are you not afraid?
No, sir. Never.
How can she have fear after all this?
I never think and I never look back for anything.
You turned your weakness
- into an opportunity. - Yes, sir.
That is what we are seeing.
Because, it's not only my future.
It's going to be the future
for the billions of people.
That is the reason why I am trying
and pushing it as hard as I can do.
I feel insignificant after meeting you.
Vimal, in this category
there are many devices already.
But first explain the product on you solving a problem.
Our technology is spectrometry based.
- So it's a non-prick technology. - Yes. - Yes.
- Can you show us a demo? - Sure, sir.
- Shall we come there? - Sure, sir. - Sure, sir.
'Our Sharks are ready to test everything.'
'This time, the accuracy of the glucometer was tested'
'by our techguru Shark Peyush Bansal.'
- My sugar reading was 363. - Yes, sir.
I'm doubtful that my sugar is 363.
Currently we're only at 90 percent accuracy
because we started testing on ourselves
and we just two 250 samples.
It's been one month since we started testing on it.
Accuracy is very important in this.
- I agree. - It's very important
it could a risk for someone's life.
They are in research stage now.
You have to go from 90 to 99.
The remaining nine percent game is tough.
It's very tough.
The game can be changed in nine percent. - Yes.
97 percent is acceptable according to..
What if it doesn't come to 97?
It will, sir. The more number of samples..
- That is confidence. - Yes, sir.
If this happens, then you're a hero
- if not then you're.. - Zero.
- Have you made a company? - Yes, sir. - Yes.
How much do both of you own?
- 50-50. - 50-50. - 50-50.
Don't you have any other funding?
We have 7.5 lakhs of funding, but it's non-equity.
It was given by government of India. - Okay.
- Nidhi Prayas Grant. - Got it.
I want to ask you
basically from now till date of launch
what is the best case scenario?
After the preclinical evaluation
when we move to clinical evaluation
we'll be definitely doing more than 5,000 or 6,000 samples.
Correct. - So that we can improve our accuracy
and present it before CDSCO.
This is a very long
and expensive process.
And the probability of success is not that high
- usually in the device industry. - Okay.
I want to say that I will surely help you
in terms of grants, helping you get expertise
tie up with more hospitals for trails
but I do not want to invest at this point.
- Thank you so much, Shark. - Thank you so much, ma'am.
I would join in if Pharma was in it.
But there's a little risk so I don't understand.
That's why I won't be able to contribute.
I'm also sorry. I will be out.
- Thank you so much. - Thank you.
My experience in these things is that accuracy is tough.
This is a big game.
And 90 percent you claimed
but I'm a little doubtful on how much accurate it is.
I can take a risk
because to do something you must take risks.
I can take this risk by getting one third equity.
I can join with him.
What is Ashneer's view?
The rule of the world is, what you see is what sells.
If you didn't tell me about the accuracy
if you had told me you're just making it
and let's see what happens
then I might have invested.
But what I saw
and there was inaccuracy
due to which I was put off.
So I'm out of this.
Your purpose is good. Their offer is very good.
I appreciate that they're investing in this.
The decision is on you. It's between you and them.
And let me tell you
if you're accuracy is 50 percent
I'm in. It doesn't matter to me
because I know it's a problem and it'll take time.
Shall we take break?
- Can we have a discussion? - Yes, please.. Go ahead.
Thank you.
My mother is pre-diabetic
and every morning I try..
So you can relate to the problem. - Yes..
But she doesn't do it.
She doesn't want to be pricked.
Hello, Santosh. Varshita here.
- Can you hear me? - Yes, tell me.
Okay, listen. We have two Sharks on board.
I was a little excited about it.
But I got put off due to accuracy.
I got a shock too
but then I thought
- we'll have to take a shot. - Yes, do it.
You're right.
So we would like to have a counter offer.
We would like to have 36 lakhs and 15 percent equity
and remaining as debt and we'll repay back in three years
as bullet payment.
Debt repayment is a little tricky here.
My advice is that the deal will get complicated
because you are non-revenue generating.
You won't be able to repay the debt.
We are Sharks, if we have 33 percent..
We'll work hard with you.
If a company approaches in the future, we'll help you.
- We'll accommodate, we'll do it. - We'll reduce our equity.
We'll reduce our equity. This is a normal process.
This is our offer for now.
- Sharks, the deal is final. - Sharks, the deal is final.
Alright!
You will not regret this. Well done. - Very nice.
- Thank you so much. - It was nice to meet you.
We will all work together.
- We will definitely take it.. - We promise we'll take it up..
Thank you so much, sir.
Congratulations, guys. Amazing deal.
Thank you so much, sir.
I think I'm being thoughtful with my money.
Rest of them are playing a different game.
Great. People are taking decision from heart. - Yes..
My philosophy is that every dollar I invest
I think I can make more money in Lenskart.
- Of course. - So far.
But if I'm investing outside
it should solve a bigger problem
otherwise I don't want to do anything
with 10 or 20 percent returns.
I'm Peyush Bansal.
I'm the co-founder of Lenskart.
My mantra is simple.
Make meaning and money will follow.
If you run behind money, you won't get anything.
If you make the world a better place
or make people's lives better and the rest is by product.
Peyush is a man of feelings.
He's a very humble guy.
Whatever he does, it is with 100 percent dedication.
It is difficult to get him out of work.
India is the blind capital of the world.
Almost half of India needs glasses.
75 percent people don't wear glasses.
I understood that there's a problem
and no one is solving it.
I think something that no one is solving
I enjoying solving that.
I'm fortunate that through Lenskart
I'm getting the opportunity to make a change
where I can do something
where people think if this didn't exist
how will our life be.
I still don't consider Lenskart successful.
Raising some money
and getting glasses to few people
is not success for me. Anyone can do it.
To do something
that people remember even after me.
That's what I call success.
I'm excited about Shark Tank
because I'll get to meet entrepreneurs
who will make people's life better in ten years.
I want to be a part of this change.
That's why I'm here.
Greetings, Sharks.
My name is Anantraj Tomar.
I'm Shivraj Tomar.
I'm Deependbharai.
And I'm Kartikeya Lohar.
We are the founders of an electric company
whose name is Motion.
Our vision is to align nature and technology
and use their specialities and invent such vehicles.
Presenting Motion Breeze.
World's first adaptive smart electric motorcycle.
Due to our patented adaptive technology
with just one button, Breeze
is capable of changing to the rider
and the pillion's posture and comfort.
Along with this Breeze can give
180 kilometres per hour top speed.
0-100 km speed in six seconds.
250 km plus per charge range
and one to three hours charging time depending on outlet.
It doesn't just end here.
We get a utility space in Breeze
in which you can keep your helmet
EV charging cable and phone.
It can solve the problem of carrying a helmet.
Breeze is currently in prototype development stage.
To take Breeze from prototype to market
we need 3 percent equity against 30 lakhs.
Now we would like to give you a small demonstration
on how the posture change happens.
It's converting from sports to street mode.
Where you can see that the handle is going up.
The aerodynamic posture of sports bike
has changed to street bike posture when handlebar comes up.
The seats will lower, the footrest will go inside
the street footrest will come out.
Will it change into an Ironman suit next?
Maybe someday.
Motorcycles have two big parts.
One is ergonomic and second is performance.
We can change the ergonomics like this
and we can also change the performance settings.
In sports, we need higher speed and acceleration.
When it's in street mode
it needs economic performance.
We can do that too.
Just like a modes in a car like sport, economy, dynamic..
Yes. We provide four modes in standard
that is sport, commute, cruiser
and scrambler. Which is for off road.
- Scrambler like the dirt bike. - Yes.
Okay. Very interesting. Very different. - Thank you.
- Can it be ridden? - Yes, sir. You can.
Now you can ride it. You can open the throttle.
What's the sound?
- It's an electric bike. - The chain is stuck.
- So much sound. - There's a little buzz sound.
It's a prototype.
So this is a high spec electric vehicle.
Great.
- Are you guys brothers? - Yes, sir.
- We are brothers. - And the other two are friends?
He's my college friend
and he's our mentor and investor.
Okay. You already have an investor. - Yes.
Mr. Deepen, why did you invest in them?
I have an ten year old company
were we do multi-brand two wheeler service. - Okay.
I have PAN-India expansion.
We have 180 outlets all over India.
I was a jury at an event
and I saw that their idea is good.
I thought I must help them
and help with the ecosystem. So I adopted it.
How much money did you invest?
I've invest around 30-35 lakhs.
- How much equity did you take? - 27 percent equity.
Get us such a deal too, sir.
There are such big players in this industry.
Bajaj, Hero, TVS, Royal Enfield..
Why did you think of combining all in one?
When the customer segment is niche for each one?
Ma'am, one reason is health
and next is user expense.
If you've ridden a two wheeler
you must know about the lower back pain.
Sometimes we need performance
sometimes we need to commute a lot.
Sometimes we go for long rides.
We use one vehicle for everything.
This increase the fatigue more.
It won't affect for short term, but prolonged usage
it can cause ligament dislocation
or numbness or tiredness.
A tired rider can get into a dangerous accident.
We did research on it.
We need to break this monotonous posture.
One motorcycle with multiple application
also gives you comfort. Along with it
the problem of storing helmet
we are solving that with utility.
There are two kinds of things.
Either you make a bike
- or focus on gimmicks.. - Focus on posture.
Focus on posture.
You must make a bike first
but keeping helmets, we've been doing that since childhood.
It's not a big deal.
It's a cool bike.
I think it's a cool bike in which you have different modes
and it's a made in India bike.
I'm assuming you'll make it affordable.
It can become a market, but it's a competitive market.
How much will the bike cost?
We want to launch with three variants by next year.
From 1.5 to 3.5 lakhs.
Bikes have few segments or markets.
Which is the biggest market in India?
Economic bikes.
- Low end. - Yes.
Cheap bikes, long lasting.
And then the mid-segment.
If you're mobile, you can pay more
and get a good bike.
And then is the high-end segment.
That's for bike enthusiast.
- People want sound there too. - Correct.
They want a brand too. You are falling in that segment.
When your pricing is more than 1.5 lakh
how can you compete there. It's a small market.
And it has been captured by few players already.
So I don't know your proposition.
And they are sticky customers, right Anupam?
Yes, they are loyal to their brand.
The upper segment he's talking about
that's very sticky.
Royal Enfield will only use those bikes.
KTM customers will only use that.
How will you penetrate that market?
Our advantage here is from Deepenbharai.
As he said he has 180 franchise all over India
so we want to show the experience.
How do we bring them in?
We'll run awareness campaigns
through moto-influencers on YouTube
where people can come to experience at touch points.
So they can feel that difference
between this bike and the one they own.
So the main USP we want to show
they can see it if they really like it
they will try to make a switch.
I want to ask Mr. Ashneer once. He rode it.
What's your view on the product?
The product feels a little crude now.
It's a little stiff to sit.
This is our proof of concept, our first model.
We are developing our final product.
- What was the sound from it? - It was loud.
It was the chain's sound.
- So it'll go away. - It'll go away.
Not just the chain, even the brake
- felt like it was soft. - Correct.
How was it to ride?
It felt like any normal electric vehicle.
Actually, I've made my decision. Shall I say it?
Say it. Yes.
I'm a big fan of specialisation.
So the four in one concept in your pitch
I can't understand that.
But I'm out due to that. But wish you the very best.
And I've made my decision too.
There's are so many E-bikes.
There'll be marketing issue too
because many rich people are getting into it.
If the product was amazing, we would invest now.
But there's a fight to make it good.
Only thing you have is distribution
but you need to crack many more things.
For that reason, I'm also out.
Let me tell you, I'm very excited about this industry.
Yes.. - And these three boys
so full of passion and courage
that they're entering EV industry with a bike.
You deserve all the praise for that.
- Thank you. - As far as I understand it
the life cycle of the bike works like this.
Luxury cars
with established brands
attach new features
because their customers aren't price conscious.
What you've done is, right at the start
without any brand
or a market
you've made your vehicle a high spec bike.
You have no recognition
therefore, no customer base
so this increases costs.
I don't see how you'll make a market for this.
My advice would be
that you utilise your experience of electric vehicles
in a direction that
has a huge market.
If you go into the high-end market, it'll be a bloodbath.
You won't survive it.
For this reason, I'm out.
I wish you the best.
I am out as well.
I think you should continue to work on this.
This is a huge initiative.
It's courageous too.
This is still too early in the process.
- Who else is left? Only me? - Only you're left.
Tell me something.
What other technology, apart from this bike
have you patented?
We've patented the frame structure and actuator
What's an actuator?
It's the actuator that moves the handle, seat and footrest.
- Right.. - We designed that in-house.
Along with that, we've also patented
a few battery assembly designs.
We've also patented our industrial designs.
And you have to get it
tested for road worthiness too, right? - Yes..
The certifications will be of ARA and ICAT.
Type approvals, in other words.
Is that done? - No, we'll do it now.
As I said, we're still developing the final product.
Where will you be doing the production?
For now, we're thinking of doing it in Vadodara.
- You'll have a factory there? - Yes.
How will you do that in Rs. 30 Lakhs?
Not in Rs. 30 Lakhs.
We already have an investor.
We'll complete the final prototype with his money
and get the certification done with your money.
Tell me something.
He's an investor.
The other boys are with you, so it's fine.
But why did you bring the investor for the pitching?
He's more than an investor.
He plays an impactive role.
What role do you play other than provide money, Investor?
Apart from money, day in and out..
As I said before..
In my company, we have a veteran
with experience in 30 to 40 industries.
We can utilise a lot of it for this job.
If we nurture them this way..
So basically
with Rs. 30 Lakhs
you made a proof of concept.
With another Rs. 30 Lakhs
you'll get the certification done.
Yes, we'll get that done.
For a moment, let's imagine that the certification is done.
- That the product isn't selling. - Yes.
What's in this thing that you can sell as a component?
All the electronic components in this..
They're all our proprietary parts.
We can share our power tank components
as well as the actuators.
We can also share the CPU..
What will you do if I say that I won't let things happen
the way your investor wants?
Not him, me or you know about the market. - Correct.
- The market needs to evolve. - Yes.
Will you go along with the market or the investor?
The market, sir.
If the market wants to actuator gone? - We'll remove it.
And if the market only wants the actuator and not the bike?
Even then, we'll.. We have to survive..
If we only sell the actuator
we'll be able to build up some trust.
And at some point, we can start selling the vehicles..
I'll make you an offer.
Yes, sir.
I am interested in this because..
...I am glad that some engineers are doing
practical work in India.
And every engineer wants to work in the banking
or the consulting sector which is a really sad
- state of affair. - Yes. Correct sir.
I am ready to give you 30 lakh rupees.
You have offered three percent equity.
But I want six percent.
It's a great offer!
The reason being..
It's not yet proved if it's road worthy or not.
You think that it will pass.
- But I am not sure. - Correct, sir.
I will also hope that I would pass.
- Correct, sir. - But if it fails
then we will have to revisit about the whole thing.
- Yes, sir. - I have another condition.
I totally respect him
because he has also invested 30 lakh rupees.
The college students won't invest that much.
Correct, sir.
I will also join and invest.
When you will call us for help then we will tell you.
- Right, sir. - But I will never
- go with you for a pitch. - Not for pitching.
I will not sell your product.
You will have to do everything.
- Sure, sir. - And end of the day
you have to develop yourself as a promoter
and you are the founder and you are the investor.
- Right. - True.
So, this is my last and only offer for now.
- Sir, could we take a minute? - Yes. - Sure.
Thank you very much.
The endgame is selling the components
- and selling the company. - We got that.
- Technology to a bigger player. - That is obvious.
If that is your endgame, go for it.
Look, anyone could make it. - Yes.
Okay, Sharks. We have discussed.
And we are ready to take the deal.
- Wow! Congratulations! - Wow! Deal!
Thank you very much.
You know what I think about what happened?
Yes, sir.
He gave us.. The bike was good
but he gave us a wrong feedback.
- Just to crack the deal. - You can just ride and test it.
- Good job.. - Thank you. - Really proud of you.
Thank you very much, sir.
Thank you very much. Good bye.
I want to give you an offer because..
- And.. - That's enough.
I would have thought but it would take
me two and a half minutes more.
So, in the past five years in this business
- We are matching. - Yes.
Both of you are so beautiful and elegant.
I love your dress.
We will make a meme.
Your 'Lungi', your shirt..
Your sari and your.. Your shadow!
Thank you but no thank you.
Yes. They are alive.
Look, can you somehow put a brand level on them?
Wait, let me laugh. It was a good joke.
- Just give your offer. - Okay.
Stop talking nonsense.
So, in the past five years in this business
you have earned eight lakh rupees per month?
8.75 lakh..
8.75 lakh monthly.
Okay. I will say nine lakhs.
- That is monthly. - Said it by mistake.
Forgive us. 8.75.
Everyone calls me Basanti. I talk a lot.
Television is going to love it. It's going to be awesome.
Guys, not okay.
- Not okay.. - Not laughing.
No.. Not okay. Having fun is okay.
- Hey but.. - No, that's not okay.
- Hey.. - Not okay.
- Not okay, guys. - We understood, My Lady.