Greetings, Sharks.
Do you know how many litres of blood is there in your body?
Seven litres.
And if your kidneys do not work
after two to three days, it will become
nine to ten litres of fluid containing toxic materials like
urea and creatinine.
It can be deadly.
Its name is Chronic Kidney Disease or C.K.D.
In layman's terms, it is called kidney failure.
Dialysis is a life sustaining therapy
which discards the excess fluids and toxic materials in your body
thereby keeping you healthy.
Unfortunately, the dialysis therapy
is not available everywhere in India where it is needed.
People travel hundreds of kilometres
for a dialysis, every two to three days.
Restrictions on food and drinking water.
If one has to travel long for the dialysis
the stress and infection in the body
will affect a kidney patient's family
financially, physically, and mentally.
Therefore, we bring you
The Renal Project.
It is a dialysis service provider.
I am Shashank Modhia.
And we are opening small dialysis centres
with two to three beds, in every small towns
districts, and its subdivisions, where it is needed.
We started from one centre in 2019.
Today, we are going to open our 21st centre.
We are operating in Mumbai, Pune, Thane, and Nashik.
And we also provide this facility at home as well.
So far, we have provided the dialysis facility
to more than 1,000 kidney patients.
And our mission is to open more than 1,000 dialysis centres
all across India.
And, Sharks, I want you to support me
in this important mission.
I want one crore rupees for three percent of equity.
Now I want to show you
how the dialysis centre looks.
For that, I invite Jitesh Pednekar
who is an important part of this company.
Jitesh.
Greetings, Sharks.
I am Jitesh Pednekar.
Operations head of The Renal Project.
This dialysis machine helps facilitate dialysis.
But the most important part of it is the dialyser.
In layman's terms, it is called an artificial kidney.
It purifies the blood and sent back to the patient's body.
- Thank you. Very good. - Thank you.
So, Shashank, please tell us about yourself.
I am bio-medical engineer.
I got my masters degree
from the University of Texas in U.S.
For ten years, I was in U.S.
In my last corporate job, during 2003 to 2018
I was working for the Asia-Pacific region.
It was a dialysis manufacturing company.
This is not a unique business.
I know that there are other companies in this business.
So, what is your unique proposition?
You are absolutely right.
This is not a unique proposition.
This is an execution play.
It is easy to set up a dialysis centre.
But it is difficult to manage it.
And the hospitals do not want to face that difficulty.
This is our U.S.P.
This is an untapped market
- and unreached population. - I don't agree.
NephroPlus is doing the same thing.
- But.. - They go to the hospitals.
- Right. - And they outsource it.
They are doing the same thing.
But if you open a three bed facility
will you earn money?
If it was not profitable
I would not have left my job in the U.S. for this.
We started home dialysis in January, 2021.
And by May, 2021
we made a revenue of 7.5 crores
just from home dialysis.
Can NephroPlus open smaller facilities if they want?
They can do it.
- But that is not their model. - I understand.
How many people in India face this problem?
Already there are dialysis patients estimated
to be between ten to fifteen lakh.
Every year, 2.5 lakh more are being added.
So, this is a big problem and it's an escalating problem.
And we are still playing catch-up.
There is another factor.
This is where I need your attention.
If you have 50 to 100 centres
in the villages and districts
how will you manage them?
We are developing an in-house management software.
No one has ever touched this area.
We have made the standard operating procedures.
If a patient comes, their temperature
and blood pressure are measured.
Then they are given a bed and the process starts.
From my office, I would not know if the technician
is following the procedure.
- Absolutely. - Along with the time stamp
and everything else, the software captures the data.
And the stocks, where a 100 syringes
- may be bought instead of 50.. - I understood.
- You are saying.. - That is the execution play.
Exactly. So, the software
was developed in-house.
What is your revenue right now.
The monthly revenue is 25 lakh.
We have become a company of three crores A.R.R.
in 20 months from the inception.
Shashank, I will get straight to the point.
The way you are approaching this business
is very appealing to me.
- Okay. - But what I have seen
in such businesses is that
it is a business of utilisation of capacity.
How long were the beds occupied or remained empty.
- Right. - That is value destruction.
So, you need to be very disciplined. - Right.
In order to keep you disciplined
and to keep the business profitable
- I want to make you an offer. - Okay.
I will give you twenty five lakh rupees
for one percent of equity.
Okay.
And I will lend you 75 lakh rupees
on 12 percent rate of interest.
And you can repay the loan after five years.
That is my offer.
- The rest is up to you. - Mr. Shashank, why should you
give 12 percent?
You have a pharma expert who has
a network of doctors and hospitals.
I will provide you the consumables and medicines.
My offer is one crore for ten percent of equity.
There will be my personal involvement
to help you scale this for India.
I have made a decision.
The chances of it becoming the number one business
seem to be weak.
Because, there can be more competition in the market.
Therefore, I am out.
First, get to a level
where you have 50 to 100 centres.
Then start working on that third level.
If you do that
everyone else will invite you to the red carpet
and the competition will be eliminated.
But you are not there yet.
Therefore, I am out.
Look, two sharks are out.
- Two sharks are in. - Yes.
The real shark is about to come.
Okay?
Execution is the most critical aspect in a business.
You have used your brain in execution.
You have mentioned the word 'execution' five or six times.
Yes. - That's the best thing you said.
- Okay? - Okay.
This project suits her the most.
I want to come on board.
If we get her blessings..
If her blessings are with us, I want to join with her.
- I see. - I can help you..
- Where? - To build the brand.
- Brand building.. - I know how to do that.
- I can help you to grow. - I see..
- You.. What's your deal? - What's your deal?
The deal stays the same. Rs. 1 crore for 10 per cent.
But the deal stays the same for you.
I want to say one more thing.
We already have a term sheet.
Look, you didn't tell us this before.
Hold on..
I was trying to say that for a long time.
Yes, go ahead.
2.5. 17 pre.
19.5 post.
- In terms of crore? - In crore.
Rs. 17 crore pre money. Infusion of Rs. 2.5 crore.
19.. - You have an offer of Rs. 20 crore valuation.
So he has an offer of Rs. 20 crore valuation.
- Yes. - My offer was better. - I will give you another offer.
This is a non-negotiable and final offer.
- Listen to her. Back.. - Rs. 1 crore for 8 per cent.
And that's it!
She has turned the tables. That's why she is called pharma.
- If one says 'yes'. - Yes. - Others say 'yes' too.
When no one said 'yes'
the one who said 'yes'
- you should respect that. - He has a point.
- It's a valid point. - Shashank.
Never discount the power of networks.
- Understand the offer clearly. - Yes.
If they come together
- you will get Rs. 1 crore. - I will get Rs. 1 crore.
If I join alone, you will get Rs. 1 crore.
Yes. - You need to manage one person less
- in your life. - No, he..
- This is the truth.. - Look.
He is again selling. - Second point. - I didn't think
- he will say this. - Look, he is insulting us.
Just think how he will handle you.
It's not about insulting someone.
What I.. It's a deal.
- It's a deal. Exactly! - Respect the deal.
- Okay. - Second point.
I will give you Rs. 25 crore valuation.
She is giving you Rs. 12.5 crore valuation.
The difference is two times.
- I will be back in 5 minutes. - Think. Please go..
You are an amazing shark.
The real shark has come out for the first time.
Hello, Yagnesh.
- 'Yes.' - In Shark Tank
we have received two offers.
Okay? Carefully..
Ashneer from Bharat Pe..
He is offering Rs. 25 lakhs in equity for 1 per cent.
Give your counter offer. We want to hear.
The counter offer is.. If it's 25 post.
One divided by.. I mean, 100 divided by 25
- it's 4 per cent. - You want to give 4 per cent
- for Rs. 1 crore. - This will be fair.
Not your or mine..
You want to meet in the middle at 6?
- Take a final call. - You have two parties.
- Yes. - One is telling you the truth.
One is selling your dreams.
Shashank, my cheque is ready.
If you think equity is the cheaper option. - Yes.
Then you don't know mathematics.
Shashank
you need value more than valuation.
Correct.
Think who is giving you more value.
We will discuss about debt equity and mathematics later.
Answer now. If you go from here..
What value are you getting?
He will play music in Boat for the patients.
The way he has built his brand will help you a lot.
- I am making it better for you. - He is buying with money.
He said you don't know mathematics.
- He is a wrong person. - What you are doing..
You think debt is higher.
- Take Rs. 50 lakh. - Okay.
Give me 2 per cent equity.
Post money valuation is 25.
And the rest Rs. 50 lakh debt at 12 per cent.
Would you like to do.. Rs. 50 lakh debt..
Would you like to match with equity?
- I think it's enough. - Final call.
- No more negotiation.
I will need pharmaceutical. So I understand that.
There is a synergy.
For that reason, I'll choose you
and we will go with the offer.
We have a deal!
- We have a deal! - Congratulations!
- So it's mind over mathematics. - Superb!
We look forward to work with you. - Thank you.
And you made the right decision.
Yes! - Thank you. Thank you very much.
We will welcome you with a swag. - Wow!
- And this is yours. - Okay.
- Congratulations. - Thank you. - Congratulations.
- Value over valuation. - Fantastic!
Hey.. Cheers!
- We mean it! - Good job.
Let me tell you, he's a fantastic guy.
- I bet on the guy. - You saved..
Greetings, Sharks. I'm Kalyani Shah
Director and Co-founder. I'm 43 years old.
I'm Bipin Shah.. Advisor and Director.
69 years old from Valsad, Gujarat. City of mangoes.
I'm Tanmay Shah.. Founder and CEO. I'm 39 years.
And we are Morriko Pure Foods Private Limited.
We've come here to fulfil my father's dream.
One should know that every year India
15 percent of the crops produced
goes into waste as cyst.
There is no way to stop it from getting rotten.
That makes the farmers not get it's worth.
In a market, the first sorted fruits which looks
big and beautiful will sell.
For a less price, a fruit with less colour will sell.
But what about the fruits which are less in size..
In colour.. In appearance? But not in the quality.
The farmers can't sell those fruits.
Those fruits reaches the garbage
or it goes into composting.
The farmer doesn't get money for those fruits.
The benefits of Sun is available all year round.
We planned to go something based on solar.
And then, Kamdhenu Foods was born.
With the help of solar dehydration, we can produce
the best and delectable fruits
in the form of bars, rolls, slices and powder.
For the production from solar dehydration
we are the number one company in India.
On the map of health snack in the world
this is the revolutionary chance for India.
That's why, in front of you
we are asking for Rs. 1 crore against 3 percent equity.
- What is this? - 'Guachi'.
- What is it? - Guava with chili.
Seeing me, you know my taste.
Girls like this snack.
The supply is abundant from where it comes from.
We've tied up with APMC and farmers all over India
we source these raw products to bring to our plant.
I'd like to understand
do you three only run this business
or did sir started and you took over.. Please explain.
Father guides us.
His understanding of raw materials is fantastic.
Even at this age and fasting since 22 years
he wakes up at 4 am and comes to the market with us.
He checks the produce.
That is the selection part.
I was never old, nor I've going to be.
If someone tells me, I'm old, I'll give him a befitting reply.
I've a personal question. May I ask? - Sure.
Why is he fasting for around 22 years?
I'm a Jain. We follow Jain traditions.
My fasting is now for 52 days.
Once a day, I have 'Roti', lentils or 'Khichdi'.
- It only has salt. - No spices or oil.
Today is my 42nd day.
- Don't you feel weak? - Does that reflect in me?
- Oh, my God! - He gives me tough competition.
- Very good, sir. - Fantastic!
First of all, I really liked your attitude. - Wow!
I even enjoyed what you said
- when you introduced yourself. - Yes.
It was really nice.
Your vision is great.
- I'd like to get the numbers.. - Sure.
Exactly, what is your latest turnover and profits?
Sure. Morriko Pure Foods Private Limited
was established and incorporated in 2016.
From 2016, we came into normal production.
From 2018 till now
we've made a sell of Rs. 5.95 crores.
Out of that, last year we did for Rs. 43 lakhs.
Till now, for six months, this year 2021
we've touched our sales at Rs. 1 crore.
Despite last year's COVID.
I'm getting confused..
What is Kamdhenu Foods and Morriko Foods?
The dream which dad in 2002..
We'd started our revolution in the name of Kamdhenu Foods.
As time went by, we faces so much trouble..
Once, we were on the verge of closure.
We had seen times
where we didn't have money to give the labours' salaries.
In 2013, when Valsad had experienced flood
we'd to shut 90 percent of our company.
This entire place has gone bad.
You can see the state of this unit.
During monsoon, the water level is high
and water seeps in from every direction. We face trouble.
Then, we thought of retaining this business.
We did not lose hope and courage.
To continue this dream, we started Morriko Pure Foods.
I got emotional because I saw her crying. - Actually..
And that reminded me of my father.
- He faced all odds. - That time was such..
Since I'm in business for 15 years, I've seen this.
I admire him very much. He is my hero.
Seeing you, I remembered my father.
So, you closed the company but kept the brand. - Yes.
In the name of Retail Kamdhenu Foods.
- Okay.. Retail Kamdhenu.. - Yes.
The name of the company is Morriko. - Yes.
I'd like to say, more than the business, I like you all.
Thank you so much. - I like your father, his hat and his style.
Then, don't address me as 'Uncle'.
I'm Bipin. - I'll say 'Uncle' as you remind me of my grandpa.
- Thank you. - I've three questions.
- First, where do you sell? - We've two models.
One is B2C model which goes directly to the consumer.
Our biggest model B2B
where we're the suppliers of well-known brands. - Like?
Yoga Bar.. Paper Boat.. ASAP, Mojo Bar..
- Kellogg's.. - Where do you sell in D2C?
For B2C, we sell on online markets.
Our major is B2B and exports.
Second question..
Why is your sale so less?
The sale is less because we had a tough time
developing this category. When COVID struck
and people became health conscious..
The boost we're getting now is phenomenal.
Third question, do you've any investors or not? - No, sir.
- I'm an investor. - This is the first time.
You're the investor.
He's our biggest investor!
How will you bring growth in B2B?
How will you expand and by how much?
Breakfast cereals.. Mueslis, energy bars
protein bars.. Ice-creams, milk shakes..
Bakery.. They all require
dehydrated food for our product.
Majority of it was being imported.
And we're the largest imports substitutes in India.
- Okay. Very good. - We all are interested in this.
I think, sales can be good even in B2C.
You didn't focus on that and we know B2C.
Not one.. Not two.. Not three..
We four sharks want to join you.
- Wow! Anupam, even you? - Of course. - Yes.
- Would you like to join? - I'll skip this one.
The reason being their expertise
in brand building in this area..
I think, he is much more capable for you.
I'm out. - Thank you.
- We're ready to give Rs. 1 crore. - Okay.
All four Sharks will come but the equity is less.
We'll take 25 percent for a crore.
We are four partners.
You all three and consider us as the fourth.
So, 25 each comes to a crore.
This is our offer. What is yours..
- I'll take some time. - Sure. Go ahead.
It's not an easy decision. They came here with 3 percent
- and the asking rate is 25. - Too much work.
But frankly speaking
there packaging in B2C is too good.
It's just awesome. All they need is
a little bit of guidance
on how things work.
Everything requires hardwork.
- Thanks a lot to all.. - You agreed to join us.
It is really hard for us to give up a huge chunk of equity.
We seek Rs. 1 crore from you
for 8 per cent equity. That is 2 per cent each.
Anything less than 5 per cent and they don't even look at it.
- I agree with you, sir.. - So.. - Yes..
This won't be possible for us.
We wanted to join you
but you need support.. Whenever we meet again
we will advise you on how things are to be done.
But we can't go lower than this.
- Sad to hear that. - All the best.
- Thank you so much.. - I have a last piece of advice.
Yes, sir. - Put Mr. Bipin's photo on the packet
and make him the brand ambassador.
With the cap..
You don't know what's under the cap.
I know very well.
- Thank you so much.. - Thank you.
Hi, Sharks. My name is Purva.
I am 25 years old and am from Delhi.
I am the founder of Good Good Piggy.. - Wait..
Today..
I have been eating veggies from the past 22 days
and I also won a dance competition.
Congrats!
You promised to give me a reward.
Who uses coins nowadays? Sharks, do you have any coins?
- No. - No..
Oh no..
Don't be sad.
- I got an idea! - Oh..
Do you have phones? - Of course, everybody has phones these days.
Are you forgetting something?
Alright..
Meet Good Good Piggy.
India's digital piggy bank and habit builder.
where you have 50 to 100 centres.
Well, you will now get coins directly in your piggy bank.
Yay!
- Bye, Sharks. - Bye.. - Thank you, dear.
In children
we are witnessing an instant gratification need because
of touch censorship.. Click a button and you get things.
So Good Good Piggy is an app, in which parents
have full control to create
habits and behavioral development for the child
while teaching the entire money management equation
such as digital savings
digital spending and most importantly
earnings.
Kids can unlock this pocket money
when they adopt good habits and improve themselves
and be good kids.
So it is a D2C startup.
Registration via the app is super easy.
It has two interfaces. Parent and child.
Enough content on it
to put in and make a playlist for your child
that you want him to watch. On this platform
once parents give the inputs
they appear like daily missions.
Which they can tell if they have done it or not.
They can update this.
Now if all of these rewards are approved
then they will get it in their piggy bank.
The kids can understand about the transactions
as to how they took the money in
and got the money out.
Which is actually a very common offline behaviour
which we have taken to online.
So Sharks, my ask is 45 lakh rupees
for five percent of my company.
So, what are you waiting for, Sharks?
Make a good investment into 'Good Good Piggy'.
Hey, Purba. Welcome to 'Shark Tank'.
Thank you so much.
- So, you are 25 years old? - Yes.
You made a fintech platform at 25 years of age.
So, we are a very young company
and at the moment we are at the prototyping stage.
In fact..
I have a nephew who is four or five years old.
So, I thought of taking a piggy bank
from a souvenir shop. When I gave it to him
he went to everyone to get coins.
But India is in the fintech race.
Everyone said.. 'You know what..'
'We don't have any coin. If there was a digital way..'
So that was the first time..
I saw that there's a potential or there's a wide space.
So, I researched a lot.
So, basically at 25 years you are an underachiever.
I would appreciate if you say that.
- There is more to me. - You have done so much.
Amazing! I'd have never guessed you are 25.
We will come to the product. We have the fintech guru here.
- I agree. I can see poker face. - Yes.
It also intimidated me a bit at first.
In between my pitch.
He has not started yet.
Full poker face.
You claim that you are India's first ed-fintech company.
I don't agree to that.
I know at least two companies.
One is FamPay and another is Junior.
Our target audience is pre-teenagers.
These products are for the teenagers.
You are wrong.
If you say that FamPay is for the late teenagers
I would agree to that.
But the concept behind Junior is it is for pre-teens.
Me and Anupam are investors in Junior.
This product is completely similar to Junior.
And interface wise..
It is a little inferior.
They want to offer banking services more.
So they are more of a fintech.
But the concept behind this product..
We are not just a tool of a piggy bank.
We have cracked that emotion or that environment
which they have used.
So, we are more on the habit builder access.
Then you are edtech, not fintech.
Ed-fin-tech. I think piggy bank itself
is a very silent way of teaching.
We do you even need
to define yourself?
These are just excuses to get the money.
Who has the knowledge about fin-tech in your team?
First tell me who has the technical knowledge?
The venture builders are helping us with that for now.
So, they are your tech partner?
Plus more. - But I don't have a problem with that.
Whatever they are saying about Junior.
You could become its competitor.
You know.. And sometimes
when you become a big company then acquisition happens.
Junior might acquire you also
if you are doing the right thing. - And vice versa.
- And vice versa. - But Purba, the problem is..
Either this could become an education company
who will teach the parents and their kids.
Or this could become a finance company.
If you combine the both like Junior or FamPay
then ultimately it has only one destination.
If you want to make money then it will be a neo bank.
Sir, I am the ambassador of 'Women in Tech' in India.
'Women in Tech' is headquartered in Paris.
You are so smart and have so much depth.
But still you are losing me.
You are saying so many jargonish things..
I mean.. We won't be impressed by that. - I think..
I think the core point is..
What is your turnover?
And I would go one level down an like to understand..
How do you make money?
We are pre-revenue right now.
So, let me explain pre-revenue for everyone.
It mean zero revenue.
Zero revenue. We have zero revenue, sir.
We are at zero revenue.
Our model is for annual platform subscription.
In ed-tech generally..
The good players charge above a lakh per annum.
And I am somebody who wants to deliver
and you talk about UN, Geneva and Paris.
Enabling financial literacy means
that you are enabling the eight aspects
of UN SDG model out of 17.
Purba, I have made my decision.
- You are talking too much.. - Sir, my revenue model..
...if you don't mind.
No.. We cannot generate any revenue.
Listen, we all have build our businesses from the scratch.
We don't understand English or jargon.
I personally believe
that you still have a lot to do.
So that you get the humility
that just because you can read and speak English
you can't run a business.
- Customer.. - Sir, I've done ground up work.
25 years is not enough for the ground up work.
My co-founder is with me since 25 years.
When you talk to him,
and he says something like this
I'll make sure to teach him a lesson he won't forget.
I ask you a couple of questions
and you talk about UN, Geneva and Paris.
We have no about those places.
Talk about your country.
Talk about Gurgaon, Delhi, Noida.
Talk about places like Faridabad.
I guess you've heard about Sunder Nursery in Delhi..
It used to be a hotspot..
People visited that place in the COVID.. - Sunder Nursery..
Rich people go to the Sunder Nursery for a picnic.
They go there to have 'Sandipani'.
Nobody talks about work there.
Do you get it?
Sunder Nursery was a very bad example.
I doubt is right.
You're fascinated to be a founder
and that's the reason, you're being a founder.
You have no knowledge about this.
I think I'll get the mentorship from the sharks..
You'll get the mentorship from the co-founder and not us.
For that reason, I'm out of this.
There is one opportunity which you can look into
and that is education.
You have to research about that.
Moreover, you're very good with researching things.
I'm sure you can do that.
Maybe, there is an opportunity for you in that field.
This is a great opportunity.
- National benchmarking.. - Hey!
Anupam is telling you
that he understands the educational part of it
and he wants you to go with it.
- And you're answering him.. - I'm ready to do it.
National benchmarking of education.
Really?
Edtech model is a very strong model..
Listen.
What are we supposed to do with the Edtech model?
The business which you're in right now
can never be a business.
For that reason, I'm out.
Why are you telling her that this is impossible?
Because she will get plastered.
I've seen a lot of businesses.
When a hundred million dollars is gone into the space.
You have companies who have a lot of competitors
and the rest of competitors, when they see a gap..
Sir, please judge us.
The way you told her..
You need a team to face it, right?
- No.. - We need technology.
The fintech part is a failure
because you don't have a co-founder.
It is possible
- if she brings in a tech founder. - Please, try to understand.
- She.. - Why can't a person fly?
That's the way it is.
- Why can't he fly? - She is..
- If she brings in a tech founder. - Ms. Namita, thank you
- for standing up. - If she gets a tech-founder
she can have a fintech.
Fine, listen to me.
When I used to watch cricket in my childhood
my uncle always said
that Sachin should've played this shot.
I used to tell him..
'Uncle, you're unemployed from the past 15 years'
'and you're teaching Sachin how to play cricket.'
People are obsessed with giving free advice.
And that's what they will do.
But if you think your business model has what it takes
then, go for it.
Hang onto it.
I'm out of this.
But all the best.
I remember
giving a presentation at the Microsoft for the first time.
And I remember I was crying in that meeting.
Because people had treated me so bad.
But I had what it takes
and I reached until here.
So, I think you should be given a chance.
Thank you.
Are you even ready to give anyone 50 per cent of equity?
- In this model. - Answer only in yes or no.
Sir, in this.. - You're not answering..
You talk well
- but you won't answer. - Sir, please be that partner.
I cannot be. I'm an investor!
I want to run Lenskart, not this..
I cannot be that partner.
I'm also out, Poorva.
Remove words like edtech and fintech
from your vocabulary.
That's my only advice to you.
Poorva, there's one thing I'd like to say.
Despite such a harsh feedback
you've got a smile on your face.
I'd like to stand and clap for that.
- Thank you so much.. - I think that's fantastic.
to put in and make a playlist for your child
when you actually have revenue
because, as a principle
I don't invest in pre-revenue.
All right? Keep up the energy, though.
- Take the feedback positively. - Definitely..
To become a better person and a better company.
Thank you so much. I really appreciate this.
- I.. - Well done!
Thank you so much, ma'am.
We're still a too young start-up.
Our biggest model B2B
It's not easy to get this kind of feedback
and not cry and stay strong.
If she's researched so much..
- Without crying.. - Time's past for that..
But we weren't trying to make her cry.
They say that women don't take feedback well. - No!
- It's a fact! - You're saying that women cry.
I'm not.. - Women take feedback much better..
Yes, women take feedback better than us.