1 00:00:22,920 --> 00:00:24,240 'This is our heart!' 2 00:00:25,040 --> 00:00:27,520 'When it sees a pretty lady, it starts racing.' 3 00:00:27,520 --> 00:00:29,520 'There are three, he should dance some more.' 4 00:00:30,760 --> 00:00:32,880 'We launched a peanut butter brand' 5 00:00:33,040 --> 00:00:35,240 - 'made in India, Alpino. - Wow.' 6 00:00:35,680 --> 00:00:38,520 'Paws India is an e-commerce pet product development company.' 7 00:00:38,520 --> 00:00:40,680 'Spandan is a pocket sized ECG device.' 8 00:00:40,920 --> 00:00:43,040 'We're on a global mission. No one should die' 9 00:00:43,200 --> 00:00:46,000 'because of a preventable and undiagnosed heart attack.' 10 00:00:46,280 --> 00:00:48,760 'We're here to raise 1.5 crore' 11 00:01:06,440 --> 00:01:08,320 - That's a bone. - That's a bone. 12 00:01:11,360 --> 00:01:13,080 Where there's a bone, there's a dog. 13 00:01:13,240 --> 00:01:14,920 Call out in your style, Anupam. 14 00:01:15,120 --> 00:01:16,120 Come in, darling! 15 00:01:16,920 --> 00:01:19,480 - Yes.. - There you go! 16 00:01:19,800 --> 00:01:21,160 - I heard you. - Oh.. 17 00:01:21,440 --> 00:01:23,320 - I'm scared of dogs. - Oh, wow! 18 00:01:23,440 --> 00:01:24,680 This is going to be fun. 19 00:01:26,880 --> 00:01:28,280 - A Labrador. - Oh.. 20 00:01:30,000 --> 00:01:31,120 Hi.. 21 00:01:32,520 --> 00:01:34,360 So cute! 22 00:01:37,840 --> 00:01:39,000 Aww.. 23 00:01:40,400 --> 00:01:42,160 Go to Peeyush, he's your best friend. 24 00:01:42,760 --> 00:01:44,760 Papa calling you.. 25 00:01:47,400 --> 00:01:48,600 Are you a shark? 26 00:01:49,480 --> 00:01:51,000 Are you joining the Sharks today? 27 00:01:51,160 --> 00:01:53,680 - If you don't accept my deal.. - We have a new Shark! 28 00:01:53,880 --> 00:01:55,440 - Oh.. - Nice! 29 00:01:55,800 --> 00:01:56,800 Wow. 30 00:01:57,120 --> 00:01:59,000 Sharks, this is Gabru. Just got him to say 31 00:01:59,160 --> 00:02:00,800 hi to you. Say hi, Gabru! 32 00:02:01,560 --> 00:02:03,960 - Hi, Gabru! - Hi, Gabru! - Hey, Bru.. 33 00:02:04,160 --> 00:02:06,480 How are you? - Okay? Have you met everybody? 34 00:02:06,920 --> 00:02:08,440 Now, let's go.. 35 00:02:14,160 --> 00:02:15,880 Hi, Sharks. My name is Priyam 36 00:02:16,080 --> 00:02:17,240 and I represent Paws India. 37 00:02:19,040 --> 00:02:20,280 I belong to Bombay. 38 00:02:20,560 --> 00:02:22,680 Having a pet is like having a baby. 39 00:02:22,840 --> 00:02:25,320 A child who never listens to you 40 00:02:25,480 --> 00:02:27,200 and does whatever he wants to do. 41 00:02:28,200 --> 00:02:29,480 So, research says that 42 00:02:29,640 --> 00:02:31,960 every fourth or fifth home could have a pet. 43 00:02:32,240 --> 00:02:33,760 Based on this population and need 44 00:02:33,960 --> 00:02:35,680 we started Paws India. 45 00:02:36,080 --> 00:02:38,920 Paws India is and e-commerce pet product development company 46 00:02:39,080 --> 00:02:42,080 that's focussed on innovation, advanced healthcare 47 00:02:42,320 --> 00:02:43,600 and product development. 48 00:02:44,120 --> 00:02:46,560 We also help flourish other pet start-ups. 49 00:02:47,040 --> 00:02:49,720 Paws India is a company that works for pets 50 00:02:49,960 --> 00:02:51,200 and towards pets. 51 00:02:51,440 --> 00:02:53,760 We look forward to seek an investment of Rs. 50 lakh 52 00:02:53,920 --> 00:02:56,480 on four percent equity of my company, Paws India. 53 00:02:59,000 --> 00:03:00,840 Priyam, first of all, welcome to Shark Tank. 54 00:03:01,120 --> 00:03:03,880 Thank you, sir. - So, how did you start the business 55 00:03:04,160 --> 00:03:05,840 and why? - My co-founder.. Actually 56 00:03:06,000 --> 00:03:08,480 he's unwell. So, he couldn't be here. - Sorry to hear that. 57 00:03:08,720 --> 00:03:10,600 My co-founder is actually my brother. 58 00:03:10,920 --> 00:03:12,200 - I see. - He and I 59 00:03:12,360 --> 00:03:14,960 We've always been crazy animal lovers 60 00:03:15,120 --> 00:03:16,360 since a very young age. 61 00:03:16,600 --> 00:03:19,280 We always wanted a pet but my mom always refused saying 62 00:03:19,720 --> 00:03:21,800 'I already have my hands full with you both.' 63 00:03:22,560 --> 00:03:24,120 'I'm not going to get you a pet.' 64 00:03:24,360 --> 00:03:26,480 We come from a pharmaceutical business background. 65 00:03:26,640 --> 00:03:28,840 - Wow, we have one here. - I have a pharma company. 66 00:03:29,040 --> 00:03:29,920 I'm a big fan, ma'am. 67 00:03:30,120 --> 00:03:32,400 My dad's company is called Pramo Lifescience. 68 00:03:32,600 --> 00:03:34,720 We manufacture and export in the African market. 69 00:03:34,840 --> 00:03:36,000 So, my co-founder was 70 00:03:36,120 --> 00:03:37,960 in the pharmaceutical business for a long time. 71 00:03:38,200 --> 00:03:39,560 Since that's already going well 72 00:03:39,720 --> 00:03:42,320 he switched channels and started this. 73 00:03:42,600 --> 00:03:44,160 I joined and came on board 74 00:03:44,280 --> 00:03:46,520 I used to work at JP Morgan in the finance department 75 00:03:46,640 --> 00:03:48,240 of investment banking. - I see! 76 00:03:48,560 --> 00:03:51,080 And.. - So, you both do this full time, now. 77 00:03:51,400 --> 00:03:53,720 Yes. - How many products do you have one the website? 78 00:03:54,000 --> 00:03:57,120 On the website, we approximately have 250 to 350 products. 79 00:03:57,360 --> 00:03:59,760 Is it a marketplace for pets? 80 00:04:00,000 --> 00:04:01,560 We're not only a marketplace. 81 00:04:01,920 --> 00:04:04,880 We also develop our own products and we have our own brand name. 82 00:04:05,120 --> 00:04:08,360 As soon as we grew, a few smaller companies came on board 83 00:04:08,640 --> 00:04:11,120 and over a period of time, a considerable amount of revenue 84 00:04:11,280 --> 00:04:12,760 started coming from other companies. 85 00:04:13,040 --> 00:04:14,800 - The we realised.. - How much is yours 86 00:04:14,880 --> 00:04:16,440 and how much is from other brands? 87 00:04:16,560 --> 00:04:18,000 - What the total revenue? - 90-10. 88 00:04:18,160 --> 00:04:20,480 90 percent is from our products and 10 percent would be 89 00:04:20,680 --> 00:04:22,400 - other brands. - That's a small margin. 90 00:04:22,560 --> 00:04:24,280 Why waste your time on that? 91 00:04:24,360 --> 00:04:25,720 These are small pet start-ups 92 00:04:25,920 --> 00:04:28,400 who can afford to build their own website 93 00:04:28,640 --> 00:04:30,640 or spend a lot on marketing every years. 94 00:04:30,800 --> 00:04:33,520 It's just about providing customers the variety. 95 00:04:33,800 --> 00:04:37,520 When you came in, there was a product demo going on. 96 00:04:37,720 --> 00:04:39,560 - Is that a unique product? - Yes, sir. 97 00:04:39,760 --> 00:04:42,600 We have exclusive distribution rights for this product 98 00:04:42,720 --> 00:04:43,840 in the Indian market. 99 00:04:44,000 --> 00:04:46,920 This is the world's first smart toy for pets. So, basically 100 00:04:47,080 --> 00:04:48,880 the product that was moving around here 101 00:04:49,080 --> 00:04:51,320 someone was operating it backstage via Bluetooth. 102 00:04:51,480 --> 00:04:52,840 This is for urban pet parents 103 00:04:53,000 --> 00:04:54,880 who don't have enough time to stay with them. - Oh! 104 00:04:55,360 --> 00:04:57,320 Interesting. - They'd normally set the toy 105 00:04:57,440 --> 00:04:59,760 on interactive mode and leave it with their pets. 106 00:04:59,920 --> 00:05:02,760 Of your products which make up 90 percent of your sales.. 107 00:05:03,000 --> 00:05:05,240 Yes? - How many are for healthcare 108 00:05:05,680 --> 00:05:07,480 versus number of general products? 109 00:05:07,640 --> 00:05:09,320 Tell us more about the products. 110 00:05:09,560 --> 00:05:12,040 - Can we see the products? - Absolutely.. 111 00:05:13,480 --> 00:05:16,040 So, when I say 90 percent sales are from our brand 112 00:05:16,160 --> 00:05:18,680 I could attribute 25 percent to healthcare 113 00:05:18,800 --> 00:05:19,960 because right now, a lot of 114 00:05:20,160 --> 00:05:21,840 our products are in prototype stage. 115 00:05:21,960 --> 00:05:25,240 - is a self play dog toy. - This one? 116 00:05:25,480 --> 00:05:27,400 is from the accessories, the tech toys 117 00:05:27,520 --> 00:05:29,040 and the edible items we have. 118 00:05:29,240 --> 00:05:31,320 The food items for dogs that we have. - Okay.. 119 00:05:31,760 --> 00:05:33,240 What was your revenue last month? 120 00:05:33,720 --> 00:05:36,440 Rs. 20 lakh. - Was that sales or net revenue? 121 00:05:36,680 --> 00:05:38,840 Sales. - What was your net revenue? 122 00:05:39,000 --> 00:05:41,760 Something to the tune of Rs. 16.5 to 16.75. - Okay.. 123 00:05:42,400 --> 00:05:44,880 You've asked for a very high valuation, Rs. 12.5 crore. 124 00:05:47,080 --> 00:05:48,720 That's one month's revenue. 125 00:05:49,000 --> 00:05:51,560 So far we've touched 1.2 crore. 126 00:05:51,880 --> 00:05:55,000 Over the last one year also, we made Rs. 1.2 crore. 127 00:05:55,360 --> 00:05:56,880 This year's target is Rs. 3 crore. 128 00:05:57,120 --> 00:05:58,960 - Priyam. - Yes, ma'am? - In India, who is.. 129 00:05:59,160 --> 00:06:01,520 Who do you consider as your competitor? 130 00:06:01,760 --> 00:06:03,680 - Against whom.. - Heads Up for Tails. 131 00:06:04,360 --> 00:06:06,520 Okay. - Look, every business has a rule. 132 00:06:06,800 --> 00:06:09,480 80 percent of the business comes from 20 percent of the products. 133 00:06:09,680 --> 00:06:11,080 Right. - Which are those products? 134 00:06:11,240 --> 00:06:12,600 Can you show us? Tell us more. 135 00:06:12,800 --> 00:06:14,560 Sir, this bone that you see here 136 00:06:14,760 --> 00:06:17,520 there are a total of eight SKUs in this brand 137 00:06:17,680 --> 00:06:19,920 for which we have exclusive distribution rights. 138 00:06:20,280 --> 00:06:23,040 But that's not yours. - This is second highest in revenue. 139 00:06:28,200 --> 00:06:29,640 The product that you have with you 140 00:06:29,800 --> 00:06:31,720 - is a self play dog toy. - This one? 141 00:06:31,800 --> 00:06:34,200 One of a kind, first in India and world. Yes, that's right. 142 00:06:34,680 --> 00:06:36,760 So, that's our highest selling product. 143 00:06:37,000 --> 00:06:38,760 I'd like to understand this a bit more. 144 00:06:38,880 --> 00:06:40,840 - Can you give a demo? - Yes, definitely. 145 00:06:46,120 --> 00:06:47,680 This is a motor operated ball 146 00:06:47,840 --> 00:06:49,480 which is fitted with motion sensors. 147 00:06:54,000 --> 00:06:55,760 It makes a barking sound. 148 00:06:56,000 --> 00:06:58,120 This ball goes inside the cover. 149 00:06:58,520 --> 00:07:00,880 When the dog plays with it, bites it 150 00:07:01,040 --> 00:07:03,080 and throws it, the motion sensor is activated. 151 00:07:03,240 --> 00:07:05,240 This is basically India's first self-play toy 152 00:07:05,360 --> 00:07:06,880 that's designed and made in India. 153 00:07:10,600 --> 00:07:12,720 - Yes! - This moves. - Do cats play with it too? 154 00:07:12,920 --> 00:07:13,920 It'll scare the cats. 155 00:07:14,640 --> 00:07:16,360 Cats mostly react to it 156 00:07:16,560 --> 00:07:18,680 - by going into attack mode. - Yes.. - Yes. 157 00:07:19,640 --> 00:07:20,720 I've seen that. 158 00:07:21,240 --> 00:07:22,920 Very good. Very interesting toy. 159 00:07:24,600 --> 00:07:27,080 - So, Priyam. - Yes, ma'am. - I've made my decision. 160 00:07:27,840 --> 00:07:29,920 Because I don't have pets and I don't have 161 00:07:30,240 --> 00:07:31,920 much knowhow about this industry 162 00:07:32,240 --> 00:07:34,240 it doesn't excite me that much. 163 00:07:34,520 --> 00:07:35,880 - So, I'm out. - I understand. 164 00:07:37,080 --> 00:07:39,240 I was actually looking forward to working with you 165 00:07:39,480 --> 00:07:41,400 also because we're looking forward to 166 00:07:41,600 --> 00:07:44,360 - entering the pharma space. - But your range of products 167 00:07:44,800 --> 00:07:47,200 is not pure play healthcare. 168 00:07:47,600 --> 00:07:50,040 - We are getting into OTC also. - Okay. 169 00:07:50,280 --> 00:07:52,280 So Priyam, I'd like to tell you.. 170 00:07:52,480 --> 00:07:53,520 I was about to 171 00:07:53,840 --> 00:07:55,880 offer Rs. 50 lakh for 10 percent 172 00:07:56,160 --> 00:07:57,840 but since you mentioned pharma 173 00:07:58,000 --> 00:08:00,640 that, in my opinion, is going to be a major distraction. 174 00:08:02,520 --> 00:08:03,600 I had thought 175 00:08:03,760 --> 00:08:06,160 you're building a B to C brand for dogs. 176 00:08:06,280 --> 00:08:07,800 - Definitely. - For online shopping. 177 00:08:08,000 --> 00:08:10,000 We have both B to B as well as B to C models. 178 00:08:10,120 --> 00:08:11,800 We don't want multiple models. 179 00:08:11,920 --> 00:08:13,960 In a small company worth Rs. 2 crores 180 00:08:14,160 --> 00:08:16,080 having multiple models is pointless. 181 00:08:16,280 --> 00:08:17,760 You can't build any business. 182 00:08:19,560 --> 00:08:22,640 If retailers and distributors come to us on their own.. 183 00:08:22,960 --> 00:08:25,480 People will ask you for all sorts of things. 184 00:08:25,680 --> 00:08:27,720 If I say I need a pen, manufacture it for me. 185 00:08:27,880 --> 00:08:29,120 Will you start manufacturing pens? 186 00:08:29,920 --> 00:08:31,520 You're competing with Heads Up for Tails. 187 00:08:31,720 --> 00:08:33,640 What you claim to be your strength.. 188 00:08:33,800 --> 00:08:36,000 You're doing so many things. 189 00:08:36,200 --> 00:08:37,840 I think it is your weakness. 190 00:08:38,040 --> 00:08:39,840 Because Heads Up for Tails is dedicated 191 00:08:40,040 --> 00:08:42,720 to selling a fun brand to the owners 192 00:08:43,000 --> 00:08:44,800 of cats and dogs. 193 00:08:45,040 --> 00:08:47,240 And you're selling 50 or 60 products. You sell 194 00:08:47,480 --> 00:08:48,960 to vets, you're doing pharma.. 195 00:08:49,200 --> 00:08:51,120 So, I mean.. I-I'm sorry. 196 00:08:51,320 --> 00:08:52,760 I want to back out. 197 00:08:54,280 --> 00:08:57,080 In my opinion, wherever you can make a unique product.. 198 00:08:57,280 --> 00:08:59,160 Like you mentioned a few products 199 00:08:59,440 --> 00:09:00,640 which a high in demand. 200 00:09:00,920 --> 00:09:02,560 You should focus on those products. 201 00:09:02,760 --> 00:09:05,880 The exclusivity is good but you can focus on that later on. 202 00:09:06,200 --> 00:09:07,840 Your goal should be to try 203 00:09:08,000 --> 00:09:11,040 to manufacture this exclusive product affordably 204 00:09:11,240 --> 00:09:13,760 in India. - Sir, we're trying very hard to 205 00:09:13,960 --> 00:09:16,840 make any kind of motor based product in India but.. 206 00:09:17,440 --> 00:09:19,320 - Manufacturing.. - You have the resources. 207 00:09:19,560 --> 00:09:22,640 That's the.. - Sir.. - Success comes from the tough decisions. 208 00:09:24,200 --> 00:09:26,520 - Peeyush, what's your decision? - I'm out. 209 00:09:27,840 --> 00:09:30,680 But Anupam and Ghazal are still there. 210 00:09:30,960 --> 00:09:33,360 My problem is that I am already 211 00:09:33,880 --> 00:09:36,040 invested in a similar brand. 212 00:09:36,240 --> 00:09:39,080 Oh! - It could give rise to conflict of interest. 213 00:09:39,280 --> 00:09:40,680 - I understand. - So.. 214 00:09:41,120 --> 00:09:42,760 - Because of that, I'm out. - No problem. 215 00:09:44,720 --> 00:09:45,920 Everyone is out. 216 00:09:46,320 --> 00:09:50,080 Yes, sir. Sadly. - So, talk to me now. - Sure. - Okay? 217 00:09:50,440 --> 00:09:51,880 - Absolutely. - Your brother 218 00:09:52,080 --> 00:09:54,440 the main founder.. He's been doing this since before. 219 00:09:54,840 --> 00:09:56,840 What's his educational background? 220 00:09:57,040 --> 00:09:58,200 He has a B.Com degree 221 00:09:58,400 --> 00:10:01,000 and after that he's been working in the pharmaceutical industry 222 00:10:01,160 --> 00:10:02,840 for about five years now. 223 00:10:03,200 --> 00:10:04,840 In the pharmaceutical company.. 224 00:10:05,000 --> 00:10:06,560 How big is the business? 225 00:10:07,080 --> 00:10:08,200 Rs. 50-100 crore, sir. 226 00:10:08,360 --> 00:10:09,760 Why did he then think of 227 00:10:09,960 --> 00:10:12,120 The business is completely automated. 228 00:10:12,360 --> 00:10:13,880 I see. - I mean, over there 229 00:10:14,080 --> 00:10:17,480 if the staff keeps working it'll keep going on its own. 230 00:10:17,760 --> 00:10:20,040 You know.. Something new.. He's 27. 231 00:10:20,320 --> 00:10:21,680 I'm 25. - Okay. 232 00:10:21,840 --> 00:10:23,280 So what do we do now? 233 00:10:23,480 --> 00:10:25,280 There's barely two hours of work in a day. 234 00:10:25,400 --> 00:10:27,120 Wow. - Wow, very impressive. 235 00:10:27,320 --> 00:10:29,000 Okay, I'm going to make an offer. 236 00:10:31,680 --> 00:10:32,880 But it is conditional. 237 00:10:33,400 --> 00:10:35,200 First, I want to meet your brother. 238 00:10:35,400 --> 00:10:38,720 Secondly, we need to re-work the strategy here,. 239 00:10:40,520 --> 00:10:41,680 Running after too many things 240 00:10:41,720 --> 00:10:45,600 will not let make you a product or a brand. 241 00:10:45,800 --> 00:10:47,560 We will running around in circles. 242 00:10:49,800 --> 00:10:52,520 So do you listen? Are you flexible? 243 00:10:53,080 --> 00:10:54,680 Certainly, sir. If it.. 244 00:10:54,800 --> 00:10:58,200 No one says they are rigid. So give me an example. 245 00:10:58,240 --> 00:11:00,600 I'll just say this one line. 246 00:11:01,600 --> 00:11:04,600 I love you. - Good optimism. 247 00:11:04,760 --> 00:11:07,600 She speaks so well. - I am working in this for a while. 248 00:11:07,800 --> 00:11:11,800 If you say something, I'll consider it, do a research, 249 00:11:12,000 --> 00:11:13,840 And if I find is making sense 250 00:11:13,880 --> 00:11:16,280 - then I will go for it. - So Priyam.. 251 00:11:16,480 --> 00:11:18,800 Describe yourself in one line. 252 00:11:18,920 --> 00:11:20,280 I'll need a paragraph. 253 00:11:22,160 --> 00:11:23,600 Fine, as you please. 254 00:11:23,760 --> 00:11:26,960 In couple of adjectives, I am very ambitious. 255 00:11:27,120 --> 00:11:29,280 Very driven, very hardworking. 256 00:11:29,440 --> 00:11:32,160 You will never get a chance to complain. 257 00:11:32,200 --> 00:11:33,760 Define ambition. 258 00:11:33,920 --> 00:11:35,120 I have seen my dad. 259 00:11:35,640 --> 00:11:38,280 He used to show Ms. Namita's picture 260 00:11:38,320 --> 00:11:41,000 - as a role model. - How sweet! 261 00:11:41,160 --> 00:11:43,200 I have known you since a very long time. 262 00:11:43,320 --> 00:11:45,160 Oh really? - So that is ambition for me. 263 00:11:45,200 --> 00:11:46,680 I want to be the biggest pet care company. 264 00:11:47,160 --> 00:11:50,240 That India has. - You come from a wealthy family. 265 00:11:50,280 --> 00:11:52,800 Why won't you invest another twenty million? 266 00:11:53,000 --> 00:11:56,280 Put in your money and expand your company. 267 00:11:56,320 --> 00:11:59,520 Dad says he wants the money that he invests. 268 00:11:59,680 --> 00:12:02,040 An investor who sits next to my cabin. 269 00:12:02,240 --> 00:12:03,960 He knocks every time. 270 00:12:04,080 --> 00:12:07,200 - Asking for his money. - I will do the same. 271 00:12:07,240 --> 00:12:09,960 Sir, you can do so, it is your right if you invest in me. 272 00:12:10,000 --> 00:12:12,360 You can call me and question me anytime for your money. 273 00:12:12,400 --> 00:12:15,440 Is there something I must know? I am trying to investigate 274 00:12:15,600 --> 00:12:18,560 that if you have an opportunity and an ambition 275 00:12:18,720 --> 00:12:20,040 and you are passionate about it 276 00:12:20,200 --> 00:12:23,160 then why do you not invest your own money? 277 00:12:23,200 --> 00:12:25,760 Why do you wish to give away equity at this stage? 278 00:12:26,000 --> 00:12:28,360 Financially, my dad is building a factory 279 00:12:28,440 --> 00:12:30,960 so all his funds go there. 280 00:12:31,160 --> 00:12:35,920 He is a businessman so he wants his money back at once. 281 00:12:36,680 --> 00:12:38,800 Okay, I'll make you an offer. 282 00:12:40,520 --> 00:12:43,600 I'll give you 50 lakhs for 15 percent of the company. 283 00:12:48,560 --> 00:12:51,000 It is non-negotiable as other sharks are out of this. 284 00:12:54,120 --> 00:12:56,200 You are talking like shark. 285 00:12:57,640 --> 00:12:58,560 Yeah! 286 00:12:59,360 --> 00:13:01,000 You may counter. 287 00:13:01,560 --> 00:13:05,880 I have no counter, I understand you value, coming on board. 288 00:13:06,000 --> 00:13:07,320 I just want you to answer this one thing 289 00:13:07,560 --> 00:13:10,080 if we have any POs, will you be able to fund that? 290 00:13:10,800 --> 00:13:13,200 - Eventually? - Depends on the sum. 291 00:13:13,360 --> 00:13:17,880 Sir, for now we will have POs for about three million. 292 00:13:18,080 --> 00:13:20,880 I can do that but I will charge an interest. 293 00:13:21,960 --> 00:13:25,280 - How much? - Standard, 12 percent. 294 00:13:29,920 --> 00:13:32,120 - What do you think? - Let's do it. 295 00:13:32,280 --> 00:13:34,320 - Wow! - Wow! - Superb! 296 00:13:35,280 --> 00:13:38,000 - Thank you so much. - Looking forward, I am excited. 297 00:13:38,120 --> 00:13:39,680 Lovely meeting you. 298 00:13:39,880 --> 00:13:42,120 - Ma'am, I am your fan. - Very fierce woman. 299 00:13:42,240 --> 00:13:43,960 - Very good job. - I loved meeting you. 300 00:13:44,200 --> 00:13:47,880 - I think highly of you. - You were fantastic. 301 00:13:47,920 --> 00:13:51,080 - I've become your fan! - Oh! - I have! 302 00:13:51,200 --> 00:13:55,120 - You did not call your brother? - Ma'am, we had a buffer. 303 00:13:55,240 --> 00:13:57,560 Of the equity and this fits it. 304 00:13:58,600 --> 00:14:01,040 She is the real shark here. 305 00:14:01,880 --> 00:14:04,920 - She had come with a number. - Yes. - A range. 306 00:14:05,080 --> 00:14:07,600 - So excited to work with you. - Looking forward to it. 307 00:14:07,640 --> 00:14:10,680 I am looking forward. You are fantastic. - Thank you! 308 00:14:10,880 --> 00:14:12,320 - Bye! - Bye! 309 00:14:16,840 --> 00:14:18,600 - Good entrepreneur. - Wonderful woman! 310 00:14:18,720 --> 00:14:20,120 - Very fierce. - I loved here. 311 00:14:57,520 --> 00:14:59,720 - Hi Sharks. - Hi Sharks. - Hello. - Hello. 312 00:14:59,960 --> 00:15:01,400 This is our heart. 313 00:15:01,720 --> 00:15:06,040 - Hello, heart! - It dances in joy. 314 00:15:07,320 --> 00:15:11,120 I like it. - It curls up when sad. 315 00:15:13,040 --> 00:15:15,520 It acts out at the sight of ice cream. 316 00:15:17,720 --> 00:15:20,640 And when it sees a woman, it dances. 317 00:15:22,960 --> 00:15:25,240 Three women bring thrice the groove. 318 00:15:25,360 --> 00:15:28,160 And when it sees someone sad, it gets emotional. 319 00:15:29,400 --> 00:15:33,920 - But after all it is a heart. - Heart has no brain. 320 00:15:34,200 --> 00:15:36,320 And hence a small mistake for the heart 321 00:15:36,360 --> 00:15:39,680 can prove fatal for us. 322 00:15:41,200 --> 00:15:44,200 Since what the feart feels it cannot express. 323 00:15:44,960 --> 00:15:47,440 - Smart. - Very cute. 324 00:15:49,000 --> 00:15:51,280 - I am Rajat Jain. - I am Nitin Chandola. 325 00:15:51,320 --> 00:15:53,200 - I am Sourabh Badola. - I am Sabit Rawat. 326 00:15:53,320 --> 00:15:55,520 We have come from Dehradun, Uttarakhand. 327 00:15:55,680 --> 00:15:56,960 We are Sun Fox technologies. 328 00:15:58,320 --> 00:16:01,680 In India two million people die every year due to heart attack. 329 00:16:01,680 --> 00:16:04,560 And one of four deaths is due to heart attacks. 330 00:16:05,040 --> 00:16:06,120 And the main reason being 331 00:16:06,240 --> 00:16:09,880 lack of medical devices present at the right time. 332 00:16:10,640 --> 00:16:13,080 ECG is the basic test for heart. 333 00:16:13,120 --> 00:16:15,280 Invented about a century ago. 334 00:16:15,360 --> 00:16:17,720 And it is still far from the reach of a common man. 335 00:16:18,000 --> 00:16:21,280 Due to lack of ECG at critical times we suffer deaths of many. 336 00:16:21,440 --> 00:16:24,440 So what if we can get this available at times of need? 337 00:16:24,640 --> 00:16:27,440 And with ease, we can save many lives. 338 00:16:28,440 --> 00:16:31,040 And our device Spandan does the same. 339 00:16:31,680 --> 00:16:32,640 A very compact device. 340 00:16:32,800 --> 00:16:37,240 A pocket sized ECG device, can be used by anyone, anywhere. 341 00:16:37,560 --> 00:16:41,200 Without any need of doctor, by using a smartphone. 342 00:16:41,360 --> 00:16:46,120 This small looking device has an accuracy of 99.7 percent. 343 00:16:46,600 --> 00:16:48,880 And it can be used at home with great ease 344 00:16:49,000 --> 00:16:51,960 like measuring blood pressure and sugar. 345 00:16:53,040 --> 00:16:55,560 Sharks, we have helped many 346 00:16:55,880 --> 00:16:58,520 by Spandan in pandemic 347 00:16:58,680 --> 00:17:02,600 but it is very special for me as I helped my dad 348 00:17:02,640 --> 00:17:05,280 by an early diagnosis for heart abnormality. 349 00:17:05,320 --> 00:17:07,680 Wow! - Sharks, we are on a global mission. 350 00:17:07,720 --> 00:17:11,040 that in coming times 351 00:17:11,200 --> 00:17:15,520 no one should die of preventable undiagnosed heart attack. 352 00:17:15,960 --> 00:17:20,400 Sharks, we seek ten million for two percent of our company. 353 00:17:20,560 --> 00:17:24,600 We want you to be with us on this noble cause. Because.. 354 00:17:24,640 --> 00:17:28,400 - Our heart is carefree. - Our heart is carefree. 355 00:17:28,520 --> 00:17:32,440 - It does as it pleases! - It does as it pleases! 356 00:17:32,720 --> 00:17:35,240 - Amazing! - Nice! 357 00:17:35,720 --> 00:17:37,120 Team Sun Fox. 358 00:17:37,280 --> 00:17:41,280 An amazing presentation. Thank you. Show us the demo. 359 00:17:44,080 --> 00:17:47,560 Now we connect the device to our smartphone. 360 00:17:47,840 --> 00:17:50,680 It will ask for permissions and you must allow. 361 00:17:50,840 --> 00:17:53,400 And now the device is connected as shown in green. 362 00:17:53,560 --> 00:17:55,240 These are the tests. 363 00:17:55,280 --> 00:17:57,360 This is for arrythmia. Specifically. 364 00:17:57,880 --> 00:17:59,280 Seven lead is for chest lead. 365 00:17:59,600 --> 00:18:01,920 And 12 lead is for diagnosis purpose 366 00:18:01,960 --> 00:18:03,360 as when you need to share the report to doctor 367 00:18:03,400 --> 00:18:04,680 then it is a proper 12 lead ECG. 368 00:18:04,800 --> 00:18:07,680 This is a position for lead 2 ECG. 369 00:18:08,000 --> 00:18:11,080 As the colour coding you put it on the chest. 370 00:18:11,120 --> 00:18:14,160 - Only three are needed. - Fine, that is easy. - Yes. 371 00:18:14,440 --> 00:18:17,720 - Red to the right. Green on left. - Yes. 372 00:18:17,760 --> 00:18:18,960 Yellow goes below. 373 00:18:19,240 --> 00:18:24,000 After that you click start test. It records in ten seconds. 374 00:18:25,000 --> 00:18:26,760 So this is how ECG is recorded. 375 00:18:33,880 --> 00:18:34,840 This is the graph. 376 00:18:35,160 --> 00:18:38,160 - Your heart rate is fantastic. - Fantastic. 377 00:18:38,200 --> 00:18:41,640 - So green is safe. - Yellow is borderline. 378 00:18:41,800 --> 00:18:43,160 Red is abnormal. 379 00:18:43,200 --> 00:18:46,560 Red marks some abnormality. 380 00:18:46,600 --> 00:18:48,880 Then you go to doctor or do further tests. 381 00:18:49,040 --> 00:18:52,960 So your heart rate is 108. Are you nervous? 382 00:18:53,120 --> 00:18:55,920 - I am a bit excited about this. - Excited. 383 00:18:57,080 --> 00:18:58,600 I want to know a bit about you. 384 00:18:58,640 --> 00:19:02,200 What did you do before? When did you start it? 385 00:19:08,200 --> 00:19:10,440 India has more than 6,00,000 villages. 386 00:19:10,840 --> 00:19:14,240 And more than 87 percent of villages 387 00:19:14,560 --> 00:19:16,280 have internet penetration. 388 00:19:16,440 --> 00:19:19,040 And yet health services are yet to reach them all. 389 00:19:22,760 --> 00:19:24,640 I was raised in a village. 390 00:19:25,000 --> 00:19:29,760 I saw people die due to lack of health services. 391 00:19:30,360 --> 00:19:35,120 As it is very late by the time they reach a facility. 392 00:19:35,320 --> 00:19:37,400 And even doctors cannot help them in that case. 393 00:19:40,560 --> 00:19:43,520 And hence we thought of starting something 394 00:19:43,560 --> 00:19:46,880 where we can make medical devices 395 00:19:47,040 --> 00:19:49,640 making it affordable so people can get it in time. 396 00:19:49,800 --> 00:19:52,960 And hence we began in 2016. 397 00:19:56,640 --> 00:19:58,480 When we started the company 398 00:19:58,800 --> 00:20:00,280 then it was rare for start-ups. 399 00:20:00,440 --> 00:20:02,000 And we lacked resources. 400 00:20:02,160 --> 00:20:05,360 We worked in deep technology and we had no resources. 401 00:20:05,640 --> 00:20:09,600 So we had to get resources and make a product. 402 00:20:12,520 --> 00:20:14,920 But as we began growing 403 00:20:15,160 --> 00:20:19,160 from day one till the day Prime minister appreciated us. 404 00:20:19,440 --> 00:20:23,880 Then my father said he'll sell the house if I need money 405 00:20:23,920 --> 00:20:25,760 but do what you want to. 406 00:20:36,640 --> 00:20:39,240 Our vision for the country 407 00:20:39,280 --> 00:20:40,600 and around the world 408 00:20:40,640 --> 00:20:43,760 no death should occur due to lack of medical equipment. 409 00:20:49,280 --> 00:20:51,680 First of all, I find this too good to be true. 410 00:20:52,120 --> 00:20:54,800 Because researches are being conducted since years on this. 411 00:20:54,840 --> 00:20:58,440 - Yes. That's true. - World's top AI scientists 412 00:20:58,520 --> 00:21:01,240 top medical field business people 413 00:21:01,280 --> 00:21:03,680 are trying to invent something on that. 414 00:21:04,000 --> 00:21:06,120 What did you invent 415 00:21:06,160 --> 00:21:08,320 that no one else has been able to do it? 416 00:21:08,360 --> 00:21:10,760 It's not that no one has attempted this before. 417 00:21:10,800 --> 00:21:12,960 If you consider ECG machines 418 00:21:13,000 --> 00:21:15,800 you can get around 20 portable machines. 419 00:21:15,840 --> 00:21:19,520 We haven't added anything here that makes it complicated. 420 00:21:19,560 --> 00:21:20,800 We have a simple formula 421 00:21:20,840 --> 00:21:22,400 if it's not needed, remove it. 422 00:21:22,440 --> 00:21:25,200 It won't cost you, it won't increase the complexity 423 00:21:25,240 --> 00:21:27,640 and won't create any unwanted problem. 424 00:21:27,680 --> 00:21:29,120 If I talk about the device 425 00:21:29,320 --> 00:21:32,320 there is no battery, there's no radiation 426 00:21:32,360 --> 00:21:33,920 there's no noise 427 00:21:33,960 --> 00:21:35,880 there are no buttons either. 428 00:21:36,080 --> 00:21:38,640 The idea was to create something 429 00:21:38,680 --> 00:21:41,240 like using a thermometer at home though you might feel dizzy 430 00:21:41,280 --> 00:21:44,320 and feel like you might have a fever. What do you do first? 431 00:21:44,360 --> 00:21:46,720 You pick up a thermometer and check your temperature. 432 00:21:46,760 --> 00:21:49,640 Since you have the accessibility. - Wow! 433 00:21:51,240 --> 00:21:55,240 Tell me something. The 99.7 percent accuracy claim 434 00:21:55,280 --> 00:21:58,800 is there any other device that achieves this accuracy? 435 00:21:58,840 --> 00:21:59,840 Mostly no. 436 00:22:00,040 --> 00:22:04,800 Consider 12 lead ECG, I'll tell you how we define accuracy. 437 00:22:04,880 --> 00:22:06,960 The gold standard machines 438 00:22:07,000 --> 00:22:08,200 the most trusted machines 439 00:22:08,240 --> 00:22:11,080 which we treat as the gold standard 440 00:22:11,120 --> 00:22:13,280 we compared 10,000 patients 441 00:22:13,320 --> 00:22:16,200 with that machine and our machine at the same time 442 00:22:16,240 --> 00:22:18,320 for the same test. 443 00:22:18,360 --> 00:22:21,160 And then based on that we compared the digital data 444 00:22:21,200 --> 00:22:24,200 and calculated how close our device's data 445 00:22:24,240 --> 00:22:26,440 is to that machine. 446 00:22:27,320 --> 00:22:29,440 - Can we see the devices, please? - Yes, please 447 00:22:29,520 --> 00:22:31,360 I want to tell you something. 448 00:22:31,400 --> 00:22:33,800 My father was infected with Covid-19. 449 00:22:33,840 --> 00:22:35,640 It was serious. 450 00:22:36,000 --> 00:22:39,360 We had to check his ECG regularly 451 00:22:39,400 --> 00:22:41,520 and I had to go out too. 452 00:22:41,560 --> 00:22:45,440 I searched on the internet a lot for a portable ECG at any cost. 453 00:22:45,680 --> 00:22:48,680 I didn't find any ad on the internet. 454 00:22:48,720 --> 00:22:52,640 I only found a start-up in the US working on it 455 00:22:52,680 --> 00:22:54,000 through subscription model. 456 00:22:54,040 --> 00:22:56,720 I wrote to their founders on LinkedIn 457 00:22:56,880 --> 00:22:58,840 so they said they're not selling this device in India now. 458 00:22:58,880 --> 00:23:00,560 I didn't see Spandan anywhere on the internet 459 00:23:00,600 --> 00:23:02,080 or I would've bought this device. 460 00:23:02,120 --> 00:23:04,800 Spandan is available on Amazon 461 00:23:04,840 --> 00:23:07,400 it is available on 1mg. 462 00:23:07,520 --> 00:23:09,320 It's available on our website too. 463 00:23:09,360 --> 00:23:13,640 Most of our sales are through our website. 464 00:23:13,680 --> 00:23:17,440 I just remembered a very personal episode 465 00:23:17,640 --> 00:23:22,360 and it's difficult for me to speak at this point of time 466 00:23:22,400 --> 00:23:24,440 because it's very emotional. 467 00:23:25,200 --> 00:23:28,560 Few years ago.. Sorry. 468 00:23:29,640 --> 00:23:34,080 Few years ago, I lost one my uncles 469 00:23:34,120 --> 00:23:37,320 because of this reason. 470 00:23:37,360 --> 00:23:41,440 His heart rate was high 471 00:23:41,520 --> 00:23:43,120 it wasn't normal 472 00:23:44,760 --> 00:23:48,880 and he was taken to the hospital in 15 minutes 473 00:23:48,920 --> 00:23:51,880 but the doctors said the exact line 474 00:23:53,200 --> 00:23:55,760 that if you had come a little sooner 475 00:23:55,800 --> 00:23:58,000 then maybe we could've saved him. 476 00:23:59,680 --> 00:24:02,440 I mean, it's just very close. 477 00:24:02,520 --> 00:24:06,320 When someone close to you 478 00:24:07,560 --> 00:24:10,480 or a family member goes through this.. 479 00:24:15,120 --> 00:24:16,880 Thank you for sharing that, Ghazal. 480 00:24:17,240 --> 00:24:19,200 I'm sure it wasn't easy for you 481 00:24:19,240 --> 00:24:21,200 and that shows 482 00:24:21,440 --> 00:24:25,720 that this is a big problem in our country. 483 00:24:26,000 --> 00:24:28,560 So I think, firstly, we should all congratulate them. 484 00:24:28,600 --> 00:24:29,960 - Yes. - Yes. 485 00:24:34,760 --> 00:24:36,440 What are you sales? 486 00:24:36,480 --> 00:24:40,400 We introduced this in January just before Covid's first wave. 487 00:24:40,440 --> 00:24:43,040 And after operating for 13 months 488 00:24:43,080 --> 00:24:45,800 we clocked a revenue of 1.2 crore. 489 00:24:46,160 --> 00:24:48,160 Our online sales 490 00:24:48,200 --> 00:24:52,000 generates five lakhs fixed revenue. 491 00:24:52,040 --> 00:24:55,400 What's the cost of one device? 492 00:24:56,160 --> 00:24:57,640 What does it cost to GP? 493 00:24:57,680 --> 00:25:00,360 We have a one time charge of Rs. 8,000 494 00:25:00,400 --> 00:25:03,080 there nothing recurring for GP after that. 495 00:25:03,120 --> 00:25:05,760 We have two other models. 496 00:25:05,800 --> 00:25:07,560 Those are for integration 497 00:25:07,600 --> 00:25:10,800 where we setup the device and charge per use. 498 00:25:10,840 --> 00:25:12,560 How much do you charge for pay per use? 499 00:25:12,600 --> 00:25:15,920 - Pay per use depends on volume. - Okay. 500 00:25:15,960 --> 00:25:18,880 It can be as low as Rs. 2 per ECG 501 00:25:18,920 --> 00:25:21,400 or as high as Rs. 20 per ECG. 502 00:25:21,440 --> 00:25:23,360 As far as I understand this business 503 00:25:23,400 --> 00:25:25,400 or how the medical business runs. 504 00:25:26,920 --> 00:25:28,680 Doctors recommend ECG. 505 00:25:28,720 --> 00:25:31,080 How much does ECG cost at hospitals? 506 00:25:31,120 --> 00:25:33,760 - Average Rs. 300. - Per test. 507 00:25:34,080 --> 00:25:36,520 If you remove this commission structure 508 00:25:36,960 --> 00:25:39,840 then are taking away the incentive for doctors 509 00:25:39,880 --> 00:25:41,360 to work with this device. 510 00:25:41,400 --> 00:25:43,600 Today hospitals and doctors make money 511 00:25:43,640 --> 00:25:45,000 by doing more and more tests. 512 00:25:45,320 --> 00:25:48,240 If you give them a device which doesn't make that money 513 00:25:48,280 --> 00:25:50,720 how will you change that incentive and behaviour? 514 00:25:56,640 --> 00:25:58,720 Sir, in this case 515 00:25:58,760 --> 00:26:01,640 we are increasing the foothold for doctors. 516 00:26:01,640 --> 00:26:05,240 - Exactly. - You can take blood glucose 517 00:26:05,280 --> 00:26:06,440 for benchmarking. 518 00:26:06,520 --> 00:26:10,320 All the diabetic patients who are getting diagnosed today 519 00:26:10,360 --> 00:26:13,280 it is less before compare to now. 520 00:26:13,640 --> 00:26:17,800 Due to blood glucose test everyone can check it 521 00:26:17,840 --> 00:26:20,720 and then after that, they won't take medication 522 00:26:20,760 --> 00:26:22,920 ultimately they'll go to the doctors. 523 00:26:22,960 --> 00:26:26,120 If the patient has accessibility.. - Good point. 524 00:26:26,160 --> 00:26:28,960 They'll go to the doctor for a prescription. 525 00:26:29,000 --> 00:26:30,120 Understood.. 526 00:26:30,960 --> 00:26:33,240 Did anyone invest or give you a grant? 527 00:26:33,280 --> 00:26:34,200 Yes. - What is it? 528 00:26:34,240 --> 00:26:37,720 We got a grand from DST for Covid innovation. 529 00:26:37,920 --> 00:26:39,240 - Who? - DST. 530 00:26:39,280 --> 00:26:40,640 Department of Science and Technology 531 00:26:40,680 --> 00:26:41,720 - by Government of India. - Yes. 532 00:26:41,760 --> 00:26:44,360 - We got support from 'Byreck'. - 'Byreck'. Correct. 533 00:26:44,400 --> 00:26:46,720 - How much did you get from both? - Nearly 50 lakhs. 534 00:26:46,760 --> 00:26:49,280 Did they take equity or just a pure grant. 535 00:26:49,320 --> 00:26:50,200 It's a pure grant. 536 00:26:50,240 --> 00:26:52,240 We raised private investment too 537 00:26:52,280 --> 00:26:55,280 - nearly 3.5 crores. - On what valuation? 538 00:26:55,480 --> 00:26:59,360 Our valuation post money was 18.5 crores. 539 00:26:59,400 --> 00:27:02,360 What is your shareholding and who is the CEO? 540 00:27:02,560 --> 00:27:05,680 I'm the founder and CEO. We have two promoters. 541 00:27:05,720 --> 00:27:07,320 My other promoter isn't here. 542 00:27:07,360 --> 00:27:10,720 So currently, I hold 36 percent 543 00:27:10,760 --> 00:27:12,360 the other promoter holds 34 percent. 544 00:27:12,400 --> 00:27:14,680 - What is his role? - He's CFO. 545 00:27:15,440 --> 00:27:19,160 My tech and business team have a 10 percent pool. 546 00:27:19,200 --> 00:27:21,600 And rest of the company goes to the investors. 547 00:27:21,880 --> 00:27:24,920 You've invented something that will change the world 548 00:27:24,960 --> 00:27:29,560 so in the past two years when you found the solution.. 549 00:27:29,600 --> 00:27:32,600 Your solution is equal to the existing solution. 550 00:27:32,640 --> 00:27:34,680 Why haven't people jumped on this? 551 00:27:34,720 --> 00:27:36,680 India has never had so much liquidity. 552 00:27:38,320 --> 00:27:42,600 In the past two years we have to do the regulatory 553 00:27:42,640 --> 00:27:44,040 we had to design for manufacturing 554 00:27:44,080 --> 00:27:46,200 make a manufacturable design ready. 555 00:27:46,480 --> 00:27:48,160 Making technology is one step 556 00:27:48,200 --> 00:27:51,040 after that making it a product to be sold 557 00:27:51,080 --> 00:27:53,400 and building our capabilities to make them 558 00:27:53,440 --> 00:27:55,240 we have to work on that. 559 00:27:55,280 --> 00:27:57,280 We are in a place like Dehradun 560 00:27:57,320 --> 00:27:59,480 where we build our ecosystem too 561 00:27:59,520 --> 00:28:01,040 and build this too. 562 00:28:01,080 --> 00:28:04,360 After that, we show the world this is what we have built 563 00:28:04,400 --> 00:28:06,320 and after doing that 564 00:28:06,360 --> 00:28:10,320 we got an angel investor this year 565 00:28:10,360 --> 00:28:13,080 the round I spoke about was done in this year 566 00:28:13,120 --> 00:28:15,880 and we want to get a Shark in this year too. 567 00:28:19,520 --> 00:28:22,000 Now all five of us are going to give you an offer together 568 00:28:22,040 --> 00:28:23,360 but before that.. 569 00:28:23,400 --> 00:28:25,920 - Anupam, are you in? - Yes. 570 00:28:25,960 --> 00:28:27,040 - He's in. - Okay. 571 00:28:27,080 --> 00:28:30,520 Tell me something. What are you here for? 572 00:28:30,560 --> 00:28:33,360 - Apart from money. - Apart from money.. 573 00:28:33,400 --> 00:28:35,720 You got 3 crores. What more can you do with 1 crore? 574 00:28:35,760 --> 00:28:38,600 We have all the big names here for D2C. 575 00:28:38,640 --> 00:28:42,120 For pharmaceuticals, we have the queen of pharmaceuticals. 576 00:28:42,160 --> 00:28:44,120 - Pharma. - Pharma. 577 00:28:45,160 --> 00:28:47,400 - It's a fact. - Queen of pharmaceuticals 578 00:28:47,440 --> 00:28:49,760 - call her Pharma. - Sorry for that. 579 00:28:49,800 --> 00:28:51,200 We have queen of Pharma. 580 00:28:51,440 --> 00:28:54,160 And access, the people we want to sell to 581 00:28:54,200 --> 00:28:56,200 you have access to them. 582 00:28:56,240 --> 00:28:58,720 All of us together will make you an offer 583 00:28:58,760 --> 00:29:00,280 and it happens rarely in Shark Tank. - Correct. 584 00:29:00,320 --> 00:29:02,640 And we don't want to take too much equity 585 00:29:02,680 --> 00:29:04,200 because you've raised a round already. 586 00:29:04,240 --> 00:29:06,760 You asked for 1 crore for two percent. 587 00:29:06,800 --> 00:29:09,040 You've raised a capital round too. 588 00:29:09,080 --> 00:29:11,440 If we calculate as per that 589 00:29:11,520 --> 00:29:13,800 and include the time of all the Sharks 590 00:29:13,840 --> 00:29:15,640 then it comes to six percent. 591 00:29:16,080 --> 00:29:19,640 So our offer is 1 crore for six percent. 592 00:29:19,680 --> 00:29:21,840 - All five Sharks. - All five Sharks included. 593 00:29:21,880 --> 00:29:23,520 According to me it is a good offer. 594 00:29:23,560 --> 00:29:26,440 20 lakhs from each Shark. 595 00:29:26,520 --> 00:29:29,760 And we'll divide six percent too at 1.2 percent each. 596 00:29:33,160 --> 00:29:35,760 You can discuss with each other if you want to. 597 00:29:35,800 --> 00:29:40,160 - You can call your partner too. - Our offer is non-negotiable. 598 00:29:40,200 --> 00:29:41,680 There's nothing to discuss to be honest. 599 00:29:43,560 --> 00:29:45,680 - We want to discuss. - Yes, please. 600 00:29:45,720 --> 00:29:47,000 - Please go ahead. - Thank you. 601 00:29:53,080 --> 00:29:55,040 We can't dishonour the previous investors. 602 00:29:55,080 --> 00:29:57,840 If this passes technology due diligence 603 00:29:58,400 --> 00:30:00,840 do you realise the number of devices we can sell 604 00:30:00,880 --> 00:30:02,720 just through MPO. It'll be massive. 605 00:30:05,800 --> 00:30:07,920 Welcome back. So much silence. 606 00:30:08,680 --> 00:30:10,920 - Are you happy or sad? - There's sadness. 607 00:30:11,840 --> 00:30:13,200 We are happy. 608 00:30:13,240 --> 00:30:14,480 Thank you so much for the offer. 609 00:30:14,520 --> 00:30:17,000 But we have one small concern. 610 00:30:17,320 --> 00:30:19,360 We'd be dishonouring the valuation 611 00:30:19,640 --> 00:30:23,000 of the investors of the previous round 612 00:30:23,040 --> 00:30:24,800 if we do go with this offer. 613 00:30:27,040 --> 00:30:29,120 We'll handle them. Forget about them. 614 00:30:30,160 --> 00:30:32,840 Would you reject us just for Rs. 1 or 2 Crores? 615 00:30:34,040 --> 00:30:36,600 What are you thinking over? It's a fabulous deal! 616 00:30:39,320 --> 00:30:40,440 When we asked for 10 per cent 617 00:30:40,560 --> 00:30:43,040 Anupam was mad at us when you stepped out. 618 00:30:43,240 --> 00:30:44,760 He was against offering six! 619 00:30:47,120 --> 00:30:48,280 Tell us then. 620 00:30:54,720 --> 00:30:55,840 Let's agree on the deal. 621 00:30:55,880 --> 00:30:56,880 Right.. 622 00:31:02,560 --> 00:31:04,160 - Good choice.. - Let's make the cheque.. 623 00:31:04,600 --> 00:31:05,520 My cheque is ready. 624 00:31:05,960 --> 00:31:07,040 That's great! 625 00:31:33,840 --> 00:31:36,440 Let me tell you guys something. 626 00:31:36,520 --> 00:31:39,680 I'd have given them Rs. 1 Crore 627 00:31:39,760 --> 00:31:42,440 for 5 per cent of equity or below. 628 00:32:26,800 --> 00:32:27,880 Hello, Sharks.. 629 00:32:28,240 --> 00:32:29,240 My name is Chetan. 630 00:32:29,320 --> 00:32:30,720 - I'm Mahatva. - I'm Priyank. 631 00:32:30,760 --> 00:32:32,160 And I'm Umesh. 632 00:32:32,240 --> 00:32:34,880 We're all co-founders of Alpino Health Foods 633 00:32:34,960 --> 00:32:36,080 from Surat, Gujarat. 634 00:32:37,520 --> 00:32:40,920 Alpino is known for bringing healthy food products 635 00:32:41,000 --> 00:32:41,880 to the people. 636 00:32:42,760 --> 00:32:45,440 So much so that in the past three years 637 00:32:45,520 --> 00:32:48,000 we've generated more than Rs. 35 Crores of revenue. 638 00:32:49,480 --> 00:32:51,880 It's all because of him. 639 00:32:52,280 --> 00:32:53,960 Me? No. 640 00:32:54,840 --> 00:32:55,960 It's because of this peanut. 641 00:32:56,800 --> 00:32:59,400 Yes. - There are peanuts beside you. 642 00:33:03,800 --> 00:33:05,800 Everyone knows peanut 643 00:33:05,880 --> 00:33:08,240 cheap and ever reliable. 644 00:33:08,320 --> 00:33:11,720 Everyone, rich and poor, have had peanut. 645 00:33:11,800 --> 00:33:13,920 It's the favourite healthy snacks of India. 646 00:33:16,640 --> 00:33:19,400 We get healthy protein and healthy fats from this. 647 00:33:20,360 --> 00:33:22,880 Sharks, studying together at college 648 00:33:22,960 --> 00:33:25,520 we used to have peanuts during the lectures. 649 00:33:26,640 --> 00:33:28,280 That's when we got the idea for peanut butter. 650 00:33:28,320 --> 00:33:30,280 - And it.. - Changed our lives.. 651 00:33:30,760 --> 00:33:33,040 We also found out that 652 00:33:33,120 --> 00:33:34,480 95 per cent of peanut butter 653 00:33:34,560 --> 00:33:38,040 was being imported into India. 654 00:33:38,240 --> 00:33:39,840 We saw an opportunity 655 00:33:39,880 --> 00:33:43,400 and launched India's very own peanut butter brand 656 00:33:43,480 --> 00:33:44,840 Alpino.. 657 00:33:47,080 --> 00:33:48,880 We've launched other healthy products 658 00:33:49,080 --> 00:33:51,480 Like muesli, apple cider vinegar 659 00:33:51,720 --> 00:33:54,360 green tea and India's first peanut butter powder. 660 00:33:55,360 --> 00:33:56,960 Yes, Sharks. Currently, we're present 661 00:33:57,040 --> 00:33:59,680 in more than 15 online platforms in India and have 662 00:33:59,760 --> 00:34:03,360 availability in more than 3,000 offline retail stores. 663 00:34:03,680 --> 00:34:06,800 Our intent behind starting Alpino, the synonym 664 00:34:06,840 --> 00:34:10,320 of health and taste, was to revolutionise 665 00:34:10,560 --> 00:34:11,680 the health food segment of India. 666 00:34:12,040 --> 00:34:15,640 Sharks, back in 2016, we started with six people. 667 00:34:15,680 --> 00:34:18,360 Now, we have a team of more than 60 professionals. 668 00:34:18,680 --> 00:34:22,080 Sharks, we've come to raise Rs. 1.5 Crores 669 00:34:22,160 --> 00:34:24,320 against 2 per cent of equity in our company. 670 00:34:26,080 --> 00:34:27,360 Are you going 671 00:34:27,400 --> 00:34:29,440 to join us and make India 672 00:34:29,520 --> 00:34:31,600 better with better health and taste.. 673 00:34:32,000 --> 00:34:33,160 Thank you. 674 00:34:34,040 --> 00:34:36,440 - Shall we taste first? - Of course. - Yes. 675 00:34:36,640 --> 00:34:39,320 - The peanuts are sweet. - Fresh. - Right! 676 00:34:39,400 --> 00:34:42,400 Crispy! - The raw peanuts are farm-fresh. 677 00:34:42,480 --> 00:34:44,880 - From where? - Junagarh, Gujarat! 678 00:34:45,440 --> 00:34:49,120 We've four flavours. Chocolate, natural, classic and coconut. 679 00:34:52,520 --> 00:34:54,840 Very tasty! 680 00:34:55,040 --> 00:34:56,680 - Thanks. - Thank you so much. 681 00:34:56,880 --> 00:35:00,040 This natural peanut butter 682 00:35:00,920 --> 00:35:03,600 is something I have 683 00:35:03,680 --> 00:35:06,000 - regularly for breakfast. - Okay. 684 00:35:06,200 --> 00:35:10,640 I found it a little less sweeter. 685 00:35:10,840 --> 00:35:12,440 Are you consumes unsweetened? 686 00:35:12,640 --> 00:35:15,760 Maybe. - It depends on the quality of peanuts. 687 00:35:15,960 --> 00:35:19,880 It should only taste of raw peanuts. Maybe it has salt. 688 00:35:20,080 --> 00:35:23,640 - I can taste peanut chunks. - That's a crunchy flavour. 689 00:35:23,840 --> 00:35:26,920 - Crunchy... - No, chunky. 690 00:35:27,120 --> 00:35:29,920 - Chunky, yes. - We have two variants. 691 00:35:30,120 --> 00:35:32,520 Crunchy and smooth in all flavours. - Okay. 692 00:35:32,720 --> 00:35:36,320 Tell me about your background four musketeers. 693 00:35:36,520 --> 00:35:38,400 We are a team of 6 co-founders. 694 00:35:38,600 --> 00:35:39,880 Two of them are still at office. 695 00:35:40,080 --> 00:35:42,400 We did college together. 696 00:35:42,600 --> 00:35:45,960 We were on the look-out for business right after college. 697 00:35:46,120 --> 00:35:47,720 That's when we thought of peanut butter. 698 00:35:47,920 --> 00:35:51,480 Our target consumers are gym goers 699 00:35:51,680 --> 00:35:54,000 who consume peanut butter to stay fit. 700 00:35:54,200 --> 00:35:56,600 General households had very little idea about peanut butter. 701 00:35:56,800 --> 00:36:01,040 Then we decided to sell raw peanuts without additives. 702 00:36:01,240 --> 00:36:04,400 We got the manufacturer to get us natural peanut butter. 703 00:36:04,600 --> 00:36:09,120 Once we got into the market everybody started talking about 704 00:36:09,360 --> 00:36:13,880 that our peanut butter is natural and has no additives. 705 00:36:14,400 --> 00:36:16,480 - You said 35 crores in 3 years. - Yes. 706 00:36:16,680 --> 00:36:19,440 - What about last year? - 15 crores. 707 00:36:19,640 --> 00:36:22,760 - What about this year? - We are at 13 now. 708 00:36:22,960 --> 00:36:27,320 - An exit of 20? - 22. 709 00:36:27,520 --> 00:36:29,080 GC and net profit? 710 00:36:29,280 --> 00:36:30,760 Gross margin is 38 percent 711 00:36:30,960 --> 00:36:32,560 and no net profit as of now. 712 00:36:32,760 --> 00:36:34,760 Break-even or a loss? 713 00:36:34,960 --> 00:36:36,040 Marginal losses. 714 00:36:39,240 --> 00:36:43,920 We are reinvesting the gross-profit for marketing. 715 00:36:44,120 --> 00:36:48,000 How much do you sell the 1 kilo pack for 716 00:36:48,200 --> 00:36:51,840 - and the cost of it? - One kilo 717 00:36:52,040 --> 00:36:54,240 is between 449 to 500. 718 00:36:54,440 --> 00:36:56,760 Manufacturing cost? 719 00:36:56,960 --> 00:37:00,600 30 percent of MRP is COGAP. 720 00:37:00,800 --> 00:37:04,120 - Why such low gross margin? - Good question. 721 00:37:05,280 --> 00:37:07,400 On our net revenue 722 00:37:07,600 --> 00:37:08,960 the gross margin is 38 percent. 723 00:37:09,120 --> 00:37:11,440 - You must be providing discounts. - Yes, our network of dealers 724 00:37:11,640 --> 00:37:14,400 Our super stockists and distributors... 725 00:37:14,600 --> 00:37:15,480 What's the online revenue? 726 00:37:15,680 --> 00:37:18,640 - 38 percent. - You manage finances? - Yes. 727 00:37:18,840 --> 00:37:22,160 - Who is the CEO? - Equal partnership. 728 00:37:22,360 --> 00:37:25,840 - We handle things together. - Not one CEO, right? 729 00:37:26,040 --> 00:37:26,880 No. 730 00:37:27,080 --> 00:37:30,560 When you have to take a call on a sum of 2 lakhs 731 00:37:30,760 --> 00:37:31,720 how do you decide on it? 732 00:37:31,920 --> 00:37:34,400 - A mutual decision everytime. - Never 733 00:37:34,600 --> 00:37:35,360 - do I think... - Of course. 734 00:37:35,560 --> 00:37:39,240 Six intelligent people can never agree upon a thing. 735 00:37:39,400 --> 00:37:41,360 How will a company run without a CEO? 736 00:37:41,560 --> 00:37:43,920 May I tell you why you don't fight? 737 00:37:44,120 --> 00:37:46,320 Because you aren't making money. 738 00:37:47,520 --> 00:37:50,720 The day you record a profit of 100 crores 739 00:37:50,920 --> 00:37:52,880 no company can work without a CEO. 740 00:37:54,960 --> 00:37:58,560 What will you fight about when you have no profits? 741 00:37:59,920 --> 00:38:02,440 In case you need a CEO who would that be? 742 00:38:03,600 --> 00:38:07,720 Maybe Chetan or me or one or two people... 743 00:38:08,200 --> 00:38:09,560 You nominated yourself. 744 00:38:09,600 --> 00:38:11,840 - A mutual decision. - Let's do this. 745 00:38:12,440 --> 00:38:15,120 Everybody who wants Chetan as CEO put your hands up. 746 00:38:15,640 --> 00:38:16,480 Done. 747 00:38:17,080 --> 00:38:18,480 - You are CEO now Chetan. - Yeah! 748 00:38:18,680 --> 00:38:20,760 - Me too. - What is your name? 749 00:38:20,960 --> 00:38:23,200 Umesh... - Anyone who thinks Umesh should be the CEO 750 00:38:23,520 --> 00:38:24,280 put your hands up. 751 00:38:24,480 --> 00:38:29,000 - Him too. - Chetan is the CEO. 752 00:38:30,280 --> 00:38:32,840 Is Amazon your primary platform for online sale? 753 00:38:32,880 --> 00:38:36,760 Amazon and Flipkart. - How many reviews do you have on Amazon? 754 00:38:37,160 --> 00:38:39,280 - More than 15,000.. - For one product. 755 00:38:39,440 --> 00:38:41,520 Single product.. This is the highest. 756 00:38:41,640 --> 00:38:44,000 Natural.. - Which is your bestselling product? 757 00:38:44,080 --> 00:38:46,200 - Natural one. - Unsweetened? - Right. 758 00:38:50,280 --> 00:38:53,640 - What's the rating on Amazon? - 4.3 to 4.5. 759 00:38:53,800 --> 00:38:56,000 Is there no one else who sells peanut butter in India? 760 00:38:56,040 --> 00:38:59,720 - Of course we have competition. - Who is number 1? 761 00:39:00,160 --> 00:39:01,400 Pintola and MyFitness. 762 00:39:01,760 --> 00:39:05,200 One minute. We have an offer for you. 763 00:39:05,560 --> 00:39:08,280 Okay.. - Two sharks will be coming together in it. 764 00:39:08,400 --> 00:39:09,760 - Okay.. - Vinita and I. 765 00:39:10,440 --> 00:39:13,920 We make on offer of Rs. 1.5 crore 766 00:39:14,120 --> 00:39:15,160 for 10 per cent. 767 00:39:17,720 --> 00:39:22,160 You need to decide quickly because we won't wait for long. 768 00:39:25,880 --> 00:39:28,880 I don't know if they have understood your business 769 00:39:28,920 --> 00:39:30,600 but we need to understand more. 770 00:39:30,800 --> 00:39:34,440 - Even I wish to understand.. - If you want to go.. 771 00:39:34,600 --> 00:39:37,600 We.. - We are sure. - We are not out of the game as yet. 772 00:39:37,720 --> 00:39:40,400 Your unsweetened peanut butter needs sugar. 773 00:39:41,200 --> 00:39:44,080 People who are not letting other sharks speak 774 00:39:44,360 --> 00:39:46,000 they won't let you work. 775 00:39:48,080 --> 00:39:49,320 We are real sharks. 776 00:39:50,360 --> 00:39:52,200 I want to say something. 777 00:39:52,480 --> 00:39:55,560 You said MyFitness is your competition. 778 00:39:55,680 --> 00:39:57,560 I have already invested in it. 779 00:39:57,680 --> 00:40:00,280 Yes.. - So only for that reason, I am out. 780 00:40:00,680 --> 00:40:04,240 Yes. - She is out. Decide before we change our mind. 781 00:40:06,080 --> 00:40:08,160 Let me tell you something.. 782 00:40:08,360 --> 00:40:11,160 Anupam and I are still in the game but we have some questions. 783 00:40:11,360 --> 00:40:13,880 Yes, sir.. - We won't invest unless you answer those. 784 00:40:14,120 --> 00:40:15,120 I agree. 785 00:40:17,160 --> 00:40:19,080 What's your goal for the next 5 years? 786 00:40:19,240 --> 00:40:22,400 We will achieve Rs. 500 crore. Definitely. 787 00:40:22,600 --> 00:40:25,280 Our future perspective is D2C because 788 00:40:25,520 --> 00:40:26,920 by spending Rs. 1 lakh, we sold stuff 789 00:40:27,000 --> 00:40:28,760 worth Rs. 12 lakh in a day. 790 00:40:29,720 --> 00:40:31,480 If I search on Amazon 791 00:40:31,560 --> 00:40:34,560 for peanut butter, will I get options from competitors? 792 00:40:34,640 --> 00:40:36,720 Alpino is among the top 3 in Amazon. 793 00:40:36,760 --> 00:40:38,360 And also in Flipkart. 794 00:40:40,000 --> 00:40:43,440 - Are you making an offer or not? - I will make a better offer. 795 00:40:43,560 --> 00:40:46,720 Oh.. Wow.. 796 00:40:47,000 --> 00:40:49,560 The deal is getting interesting. 797 00:40:50,240 --> 00:40:53,960 The USP of your peanut butter is that it is all natural.. 798 00:40:54,200 --> 00:40:56,880 Healthy.. I think this product 799 00:40:57,240 --> 00:41:00,240 is not so healthy and is in a competitive space. 800 00:41:00,800 --> 00:41:05,480 You say it is healthy but I see a lot of sugar in the contents. 801 00:41:06,480 --> 00:41:09,600 So why are you doing all this? 802 00:41:10,680 --> 00:41:13,280 Why don't you become a specialty butters company? 803 00:41:15,240 --> 00:41:16,840 I disagree with Anupam. 804 00:41:17,840 --> 00:41:19,800 I, as an investor 805 00:41:20,200 --> 00:41:21,880 will not make you a butter company. 806 00:41:22,440 --> 00:41:26,280 Your strength is wellness and you need to get a range in it. 807 00:41:26,440 --> 00:41:29,280 Right.. - So, like Anupam is saying 808 00:41:29,360 --> 00:41:32,120 we won't change your business vision or passion. 809 00:41:33,080 --> 00:41:36,240 My expectation will be that it becomes big. 810 00:41:36,280 --> 00:41:37,680 - Big.. - Right.. 811 00:41:39,440 --> 00:41:43,080 If you want to do that, I am with you. I can do it. 812 00:41:43,200 --> 00:41:45,280 We have a chance. 813 00:41:45,800 --> 00:41:47,960 Where did you buy the glasses from? - Lenskart. 814 00:41:48,000 --> 00:41:49,640 Oh.. 815 00:41:50,560 --> 00:41:52,680 You'll get a big offer now. 816 00:41:52,760 --> 00:41:54,800 His brother has four franchises of Lenskart. 817 00:41:54,960 --> 00:41:56,400 Piyush, he has impressed you. 818 00:41:57,760 --> 00:42:00,520 - Make an offer now. - Piyush, want to do it alone 819 00:42:00,640 --> 00:42:02,240 - or with me? - I am okay with both. 820 00:42:02,400 --> 00:42:04,560 - The percentage.. - It is your right.. 821 00:42:05,200 --> 00:42:07,280 Anupam and I are ready for 9 per cent. 822 00:42:10,440 --> 00:42:12,880 Vinita and I.. They are asking for 9 per cent.. 823 00:42:13,040 --> 00:42:14,720 We ask 8.5. 824 00:42:17,160 --> 00:42:21,040 Let me make it clear because you need to be in this business. 825 00:42:21,080 --> 00:42:23,680 - Right. - My expertise 826 00:42:24,000 --> 00:42:27,160 is about large business.. 827 00:42:27,640 --> 00:42:29,240 When I started this business 828 00:42:29,280 --> 00:42:31,160 people said it will go up to Rs. 40 crore. 829 00:42:31,360 --> 00:42:34,960 This year our revenue will be Rs. 24 crore. 830 00:42:35,120 --> 00:42:38,600 Right. - Okay? This is not for a year or two.. 831 00:42:38,880 --> 00:42:43,280 I'll be with you for 10 years. Come what may. 832 00:42:43,400 --> 00:42:46,760 The money I want to invest.. Along with Anupam.. 833 00:42:47,080 --> 00:42:50,360 We are quite aligned. We'll invest in the core of it. 834 00:42:52,200 --> 00:42:55,440 On the basis of the strengths you seek 835 00:42:55,480 --> 00:42:58,920 you must decide and you can discuss it amongst yourselves. 836 00:42:59,280 --> 00:43:01,760 Think about it. Her mother is from Bhavnagar. 837 00:43:02,080 --> 00:43:05,520 - And my parents are Gujaratis. - Our biggest 838 00:43:05,680 --> 00:43:07,720 and bestselling store is in Surat. 839 00:43:07,800 --> 00:43:09,520 Our product is from Gujarat. 840 00:43:10,560 --> 00:43:13,360 Mr. Piyush and Mr. Anupam, can you come down to 2.5? 841 00:43:14,520 --> 00:43:17,560 Did you make the counter offer only to them because 842 00:43:17,720 --> 00:43:20,320 ours is.. - If you don't want it, shall we back off? 843 00:43:20,400 --> 00:43:21,880 No, Namita.. 844 00:43:23,360 --> 00:43:26,840 - Please discuss.. - Give us one minute.. - Sure.. 845 00:43:26,960 --> 00:43:27,960 Thank you. 846 00:43:30,880 --> 00:43:33,680 How about all four going in for 2 per cent each? - Let's do it. 847 00:43:34,000 --> 00:43:37,160 Just 2 per cent? - 6 is already done, 4 will be ours. 848 00:43:39,880 --> 00:43:41,160 I think it is a good deal. 849 00:43:48,800 --> 00:43:51,280 Let us confuse you furthermore. 850 00:43:51,480 --> 00:43:54,280 From 6.. Let's make a cricket team.. 851 00:43:54,520 --> 00:43:57,640 Four of us will come in and take 8 per cent. 852 00:43:58,760 --> 00:44:00,800 Please decide. This is the final offer. 853 00:44:00,880 --> 00:44:02,640 You are getting four sharks. 854 00:44:04,040 --> 00:44:06,400 Each of us gets 2 per cent otherwise it won't be fun. 855 00:44:06,640 --> 00:44:11,080 We won't put in efforts if we don't have a substantial stake. 856 00:44:13,040 --> 00:44:16,560 Actually, we'll give 3 per cent stake against Rs. 1.5 crore. 857 00:44:16,600 --> 00:44:19,280 I said we can't go below 8. 858 00:44:26,200 --> 00:44:29,240 Can we take time? - It is an important decision. Please. 859 00:44:29,560 --> 00:44:32,240 Non-negotiable. Don't come back with 3.5 per cent. 860 00:44:32,320 --> 00:44:34,640 - Non-negotiable. - I'll see you out personally.. 861 00:44:36,360 --> 00:44:39,480 - Valuations are.. - Here.. 862 00:44:40,040 --> 00:44:41,680 It's 8 per cent.. 863 00:44:42,120 --> 00:44:44,840 - What do you think? Will they? - I doubt. - They will.. 864 00:44:45,280 --> 00:44:46,280 Will they? 865 00:44:54,040 --> 00:44:56,960 So for Rs. 1.5 crore, accordingly.. 866 00:44:57,040 --> 00:45:00,760 We can take all four sharks and can dilute only 5 per cent. 867 00:45:00,920 --> 00:45:02,200 Not more than that. 868 00:45:04,120 --> 00:45:06,200 Sharks, I think this is the best because 869 00:45:06,400 --> 00:45:08,280 we need your expertise but 870 00:45:08,440 --> 00:45:11,760 regarding the product category, there is so much scope as very 871 00:45:11,920 --> 00:45:13,080 few people know it. 872 00:45:13,160 --> 00:45:16,000 We have already set up a vast distribution network. 873 00:45:16,240 --> 00:45:19,200 You will need three things if you want to make it big. 874 00:45:19,520 --> 00:45:20,920 - Money. - Yes. 875 00:45:21,040 --> 00:45:24,600 But anyone can bring in more money. - Correct. 876 00:45:24,800 --> 00:45:27,400 Along with that, you need strategy. - Right. 877 00:45:27,640 --> 00:45:30,800 Thirdly, you need efforts, connections and network. 878 00:45:31,200 --> 00:45:33,480 We can bring the second and third factors. 879 00:45:33,600 --> 00:45:36,960 And we will make connections to ensure fund raising. 880 00:45:37,520 --> 00:45:41,440 If you refuse us only for a 2-3 per cent 881 00:45:41,840 --> 00:45:44,120 I think you'll be making a very wrong decision. 882 00:45:45,040 --> 00:45:46,520 Let me keep it simple. 883 00:45:46,680 --> 00:45:50,640 If your competitor raises Rs. 50 crore in future 884 00:45:51,080 --> 00:45:54,640 and we help you raise around Rs. 300 crore.. 885 00:45:54,920 --> 00:45:57,520 Right.. - The 2-3 per cent will be your banker commission. 886 00:45:57,680 --> 00:45:59,720 - Absolutely.. - You need to.. 887 00:45:59,880 --> 00:46:02,240 You need to spend on quality if you want to build 888 00:46:02,280 --> 00:46:05,680 - the best business. - Generosity.. 889 00:46:05,760 --> 00:46:08,200 Thank you so much but we cannot accept the offer. 890 00:46:09,240 --> 00:46:12,680 - Okay, never mind.. - All the best.. 891 00:46:12,880 --> 00:46:14,560 Thank you so much. Really appreciate.. 892 00:46:14,600 --> 00:46:17,280 - Well done.. - Thank you.. 893 00:46:17,400 --> 00:46:18,600 Thank you..