1 00:02:04,760 --> 00:02:06,840 Hi, Sharks, my name is Bhupinder Madaan. 2 00:02:07,080 --> 00:02:08,520 I'm from Gujarat. 3 00:02:09,320 --> 00:02:11,760 I've visited many cafes. 4 00:02:11,960 --> 00:02:14,280 At the end of the day, after exiting each one 5 00:02:14,320 --> 00:02:15,680 I'd realise that they all 6 00:02:15,720 --> 00:02:19,400 had the same old coffees with smilies on them. 7 00:02:20,400 --> 00:02:22,080 There was no creativity. 8 00:02:22,240 --> 00:02:25,600 These coffees had put a hole in my wallet. 9 00:02:25,840 --> 00:02:27,440 My friend then asked me 10 00:02:27,440 --> 00:02:31,120 if I've decided to chance the coffee industry. 11 00:02:31,320 --> 00:02:34,280 And I simply decided to do just that. 12 00:02:35,280 --> 00:02:36,880 Oh, nice.. 13 00:02:37,160 --> 00:02:40,120 I had a great idea. 14 00:02:44,640 --> 00:02:46,320 Oh, wow! Amazing! 15 00:02:50,120 --> 00:02:51,600 The names are very interesting. 16 00:02:51,760 --> 00:02:53,440 Thank you. We roast our coffee beans 17 00:02:53,480 --> 00:02:57,200 and serve the coffee to customers 18 00:02:57,200 --> 00:02:58,640 in cool beer bottles. 19 00:03:00,000 --> 00:03:02,160 Till date, from my three kiosks 20 00:03:02,200 --> 00:03:04,440 I've sold more than three lakh coffees. 21 00:03:04,480 --> 00:03:07,920 Sharks, I want to inform you guys that this isn't a mere cafe 22 00:03:07,960 --> 00:03:10,320 but a new generation cafe chain. 23 00:03:10,320 --> 00:03:12,080 To spread my amazing idea 24 00:03:12,080 --> 00:03:13,680 across India 25 00:03:13,720 --> 00:03:15,160 I need from you 26 00:03:15,160 --> 00:03:17,720 Rs. 50 Lakhs against 10 per cent equity. 27 00:03:19,320 --> 00:03:22,800 I assure you that we'll change the coffee industry. 28 00:03:23,000 --> 00:03:25,840 I want to demonstrate how we make our coffee 29 00:03:25,840 --> 00:03:27,640 in 59 seconds. 30 00:03:27,640 --> 00:03:29,440 - Your time starts now. - Yes. 31 00:03:29,520 --> 00:03:30,880 This is the coffee base. 32 00:03:31,000 --> 00:03:32,560 That's our brew. 33 00:03:36,840 --> 00:03:38,040 This is the milk base. 34 00:03:38,280 --> 00:03:40,080 We've already put sweetener in it. 35 00:03:41,720 --> 00:03:44,400 We just mix it and serve it in a beer bucket. 36 00:03:44,400 --> 00:03:45,320 Oh, wow! 37 00:03:53,280 --> 00:03:54,280 Delicious! 38 00:03:54,320 --> 00:03:55,320 Thank you. 39 00:03:55,960 --> 00:03:57,480 - A fantastic product. - Thank you. 40 00:03:57,720 --> 00:03:59,240 - The coffee is very good. - Thank you. 41 00:03:59,280 --> 00:04:01,160 I'm going to put this in my mug. 42 00:04:01,840 --> 00:04:02,920 I'm not returning this. 43 00:04:06,640 --> 00:04:09,160 Bhupinder, as you can see 44 00:04:09,360 --> 00:04:12,280 you've charmed everyone with your product and brand. 45 00:04:12,280 --> 00:04:13,320 Thank you. 46 00:04:13,760 --> 00:04:15,560 However, how did you get 47 00:04:16,240 --> 00:04:18,080 an understanding for this brand? 48 00:04:18,080 --> 00:04:20,960 I started in business at a very young age.. 49 00:04:21,000 --> 00:04:23,040 I was 14 when I first started.. 50 00:04:23,080 --> 00:04:25,160 On that basis, I decided 51 00:04:25,200 --> 00:04:28,640 to do business even if I have to sell roadside food. 52 00:04:28,840 --> 00:04:31,240 That was the journey of my business. 53 00:04:31,400 --> 00:04:34,080 Bhupinder, tell us about the businesses you've done 54 00:04:34,080 --> 00:04:37,160 since you were 14 years old.. About their success 55 00:04:37,200 --> 00:04:39,480 and result.. How much businesses have you done before this one? 56 00:04:39,520 --> 00:04:41,760 This would be my seventh or eighth business. 57 00:04:41,920 --> 00:04:43,160 - Eighth business.. - Wow.. 58 00:04:44,080 --> 00:04:46,400 My first venture was selling 'Momo'. 59 00:04:46,440 --> 00:04:48,400 Gujarat didn't use to have 'Momo' then.. 60 00:04:48,440 --> 00:04:49,720 It was a long time ago 61 00:04:49,720 --> 00:04:51,000 when I was around 15 years old. 62 00:04:51,040 --> 00:04:53,360 Then I started a marketing firm. 63 00:04:53,360 --> 00:04:58,200 I ran social media campaigns for many brands. 64 00:04:58,440 --> 00:05:01,240 Then I started a a 'Paratha' business. 65 00:05:01,240 --> 00:05:04,080 After doing many food related businesses 66 00:05:04,120 --> 00:05:05,720 I finally came to Theka. 67 00:05:05,760 --> 00:05:07,520 You're amazing. What's your age? 68 00:05:07,640 --> 00:05:09,800 - I'm 27 years old. - 27.. - Oh, wow.. 69 00:05:09,800 --> 00:05:12,280 How old is Theka? 70 00:05:12,320 --> 00:05:13,320 It's three years old. 71 00:05:15,880 --> 00:05:17,440 Tell us about your sales figures. 72 00:05:18,720 --> 00:05:20,960 In the first year, the sales were unbelievable. 73 00:05:20,960 --> 00:05:22,880 Even I didn't expect that much sales. 74 00:05:22,920 --> 00:05:26,440 In the first year, the sales was around Rs. 1.2 Crores. 75 00:05:26,480 --> 00:05:27,400 Wow.. 76 00:05:27,440 --> 00:05:30,000 In the second year, we went up to Rs. 1.8 Lakhs. 77 00:05:30,000 --> 00:05:33,600 Current tier? - I failed badly during covid for that.. 78 00:05:33,640 --> 00:05:37,120 I relaunched Theka after the pandemic. 79 00:05:37,360 --> 00:05:39,800 Ever since, the sales has been of Rs. 30 Lakhs. 80 00:05:39,840 --> 00:05:41,160 What are the figures for the last month? 81 00:05:41,160 --> 00:05:43,040 The sales was of Rs. 4 Lakhs last month. 82 00:05:43,360 --> 00:05:45,480 So you're running at Rs. 50 Lakhs a year. - Yes. 83 00:05:45,680 --> 00:05:47,800 You mentioned that you relaunched the brand. 84 00:05:47,840 --> 00:05:49,640 Are you running the business by yourself 85 00:05:49,680 --> 00:05:51,600 - or do you have partners? - By myself. 86 00:05:52,120 --> 00:05:54,680 How much have you invested in the business? 87 00:05:55,040 --> 00:05:56,560 At most, Rs. 5 Lakhs. 88 00:05:56,560 --> 00:05:59,200 The rest, I reinvested what I got from the business. 89 00:05:59,240 --> 00:06:00,600 Is this your full-time 90 00:06:00,600 --> 00:06:03,400 - or do you have.. - I'm focused only on Theka. 91 00:06:04,400 --> 00:06:06,760 Are you determined to stick with it? - Completely. 92 00:06:06,800 --> 00:06:08,320 I don't want to do a five year business 93 00:06:08,360 --> 00:06:10,800 - but a 50 years one.. - Well said.. 94 00:06:11,200 --> 00:06:13,640 How many SKUs do you have and what's the shelf life? 95 00:06:13,640 --> 00:06:15,360 I have only 12 products in the menu 96 00:06:15,400 --> 00:06:17,000 and only six in the inventory. 97 00:06:17,000 --> 00:06:19,480 I deliver these to customers such a way 98 00:06:19,480 --> 00:06:21,680 that the shelf life of the kits is one month 99 00:06:21,840 --> 00:06:24,800 and three days after it's converted into a bottle. 100 00:06:25,560 --> 00:06:27,040 Bhupinder 101 00:06:27,040 --> 00:06:28,400 let's try to understand 102 00:06:28,440 --> 00:06:30,640 how you'll make the business. 103 00:06:31,200 --> 00:06:33,200 Are you going to open stalls everywhere 104 00:06:33,640 --> 00:06:37,320 or do a different distribution strategy. 105 00:06:37,480 --> 00:06:39,000 - Can you tell us about this? - Yes. 106 00:06:39,240 --> 00:06:40,800 My ideology was to 107 00:06:40,800 --> 00:06:42,520 cut in on fixed expenses 108 00:06:42,560 --> 00:06:44,720 and focus more on quality of the product. 109 00:06:44,880 --> 00:06:47,080 At the end of the day, after starting a cafe 110 00:06:47,120 --> 00:06:49,040 table turnaround time is high. 111 00:06:49,080 --> 00:06:51,480 Cafe chains fail before paying 112 00:06:51,520 --> 00:06:54,160 the rents at high streets. 113 00:06:54,360 --> 00:06:55,920 My effort has been 114 00:06:55,960 --> 00:06:58,360 towards cutting down on fixed expenses 115 00:06:58,360 --> 00:06:59,800 and capital investment. 116 00:06:59,800 --> 00:07:01,480 You're doing that through this. - Exactly. 117 00:07:01,640 --> 00:07:04,120 The cost of carts and stuff is less. 118 00:07:04,120 --> 00:07:06,520 I can have one kiosk for Rs. 1.5 Lakhs. 119 00:07:06,560 --> 00:07:08,120 Plus, we're all handmade. 120 00:07:08,120 --> 00:07:09,800 We don't have any equipment. 121 00:07:09,840 --> 00:07:11,040 With no equipment cost 122 00:07:11,080 --> 00:07:12,760 capital investment is very low. 123 00:07:12,920 --> 00:07:16,760 My production units are ready to be serve in Rs. 2.5 Lakhs. 124 00:07:16,880 --> 00:07:20,400 My aim has been to launch my carts everywhere. 125 00:07:21,960 --> 00:07:24,640 Bhupinder, there are many coffee brands in the market. 126 00:07:24,880 --> 00:07:28,200 What's the difference between Theka and those? 127 00:07:28,200 --> 00:07:30,040 What are you doing differently? 128 00:07:31,440 --> 00:07:33,760 My aim has been to serve 129 00:07:33,800 --> 00:07:35,960 100 per cent Arabica coffee beans.. 130 00:07:36,000 --> 00:07:38,280 That's the most premium coffee bean.. 131 00:07:38,320 --> 00:07:40,960 Anyone with knowledge about coffee will know 132 00:07:40,960 --> 00:07:43,000 that that's the best coffee that can be sourced. 133 00:07:43,320 --> 00:07:46,360 We're trying to serve those to customer in Rs. 100 134 00:07:46,360 --> 00:07:47,560 which is most affordable price. 135 00:07:47,600 --> 00:07:50,240 Since it's handmade, do you believe 136 00:07:50,400 --> 00:07:51,840 that you'll have trouble 137 00:07:51,840 --> 00:07:56,240 when you have to scale the brand up? 138 00:07:56,280 --> 00:07:58,560 Absolutely. For that reason, once we get the investment 139 00:07:58,560 --> 00:08:01,000 we'll automate the bottling process 140 00:08:01,200 --> 00:08:03,480 at the location of wherever 141 00:08:03,520 --> 00:08:05,760 the kiosks will be opened.. 142 00:08:05,800 --> 00:08:07,320 To automate bottling.. 143 00:08:07,480 --> 00:08:08,720 What's your vision? 144 00:08:08,920 --> 00:08:11,400 You've said that you want these to be in the supermarket 145 00:08:11,400 --> 00:08:12,480 and have kiosks. 146 00:08:12,520 --> 00:08:14,320 - Right. - Do you not want 147 00:08:14,840 --> 00:08:16,520 to sell a ready to drink form of the product at airports 148 00:08:16,560 --> 00:08:17,800 and supermarkets? 149 00:08:17,840 --> 00:08:19,600 Do you want to keep the product freshly brewed 150 00:08:19,600 --> 00:08:22,400 or are you willing to go towards ready to drink format? 151 00:08:22,400 --> 00:08:25,120 Only if we're able to find the innovative technology 152 00:08:25,160 --> 00:08:27,200 that enables us to keep the product 153 00:08:27,240 --> 00:08:29,680 organic, without any chemicals 154 00:08:29,960 --> 00:08:32,480 or what have you, that compromises 155 00:08:32,480 --> 00:08:35,640 the organic flavour.. If we can do that 156 00:08:35,640 --> 00:08:38,040 - I'm completely open to it. - So you're open to that. 157 00:08:38,080 --> 00:08:40,680 In the second phase of the expansion, completely. 158 00:08:40,720 --> 00:08:44,280 I was honestly very interested in this. 159 00:08:44,640 --> 00:08:47,600 However, the one part of all of this 160 00:08:47,640 --> 00:08:50,880 that has holds my confidence back 161 00:08:50,920 --> 00:08:52,040 is the shelf life. 162 00:08:54,160 --> 00:08:55,640 I'm out for that reason. 163 00:08:57,080 --> 00:08:59,960 I believe that have a better shelf life 164 00:09:00,160 --> 00:09:03,600 is very important to scale the brand. 165 00:09:03,920 --> 00:09:06,640 Otherwise, the kiosk business will do well 166 00:09:06,840 --> 00:09:08,880 which isn't fascinating to me. 167 00:09:09,640 --> 00:09:10,640 True. 168 00:09:10,880 --> 00:09:14,920 Bhupinder, my concern is that this isn't 100 per cent fresh 169 00:09:15,200 --> 00:09:18,120 and neither does it have the potential 170 00:09:18,160 --> 00:09:22,480 to scale with pan India distributors in no time. 171 00:09:22,520 --> 00:09:23,440 It's not like that. 172 00:09:24,240 --> 00:09:25,560 For that reason, I'm out. 173 00:09:25,560 --> 00:09:28,240 I find simpler businesses easier to understand. 174 00:09:29,000 --> 00:09:31,040 The brand that you've crafted 175 00:09:31,040 --> 00:09:32,920 and it's tonality 176 00:09:33,120 --> 00:09:34,320 are amazing. 177 00:09:34,360 --> 00:09:36,000 It attention grabbing. 178 00:09:36,040 --> 00:09:38,040 That said, food category 179 00:09:38,040 --> 00:09:39,640 isn't my expertise. 180 00:09:39,840 --> 00:09:41,880 You want to go offline heavy 181 00:09:42,080 --> 00:09:44,440 and I can't add any value to that. 182 00:09:45,520 --> 00:09:47,480 Purely because of those reasons, I'm out. 183 00:09:49,120 --> 00:09:52,800 Bottomline is, beverage category 184 00:09:53,080 --> 00:09:54,960 has a huge graveyard. 185 00:09:56,000 --> 00:09:58,080 It's very problematic in distribution. 186 00:09:58,080 --> 00:09:59,800 - Right.. - Distributing liquids 187 00:10:00,080 --> 00:10:01,440 and maintaining shelf life.. 188 00:10:01,480 --> 00:10:03,120 Returns are so high that 189 00:10:03,120 --> 00:10:06,840 businesses shut down at over Rs. 100 Crore mark. 190 00:10:07,880 --> 00:10:10,520 From what I've heard from you 191 00:10:10,640 --> 00:10:13,160 I don't see any differentiated approach 192 00:10:13,360 --> 00:10:15,720 that tackles these problems. 193 00:10:16,880 --> 00:10:18,640 If you continue with this model.. 194 00:10:19,360 --> 00:10:23,480 A roadside food type of scaling.. 195 00:10:23,680 --> 00:10:25,960 You'll also join that graveyard. 196 00:10:27,680 --> 00:10:29,160 I'm out for this reason. 197 00:10:30,040 --> 00:10:32,520 - Right.. - I find this challenging 198 00:10:32,560 --> 00:10:34,640 for central cost and logistics. 199 00:10:34,680 --> 00:10:38,000 I know a lot about franchise and retail business. 200 00:10:38,160 --> 00:10:39,680 I believe that.. 201 00:10:39,680 --> 00:10:42,760 Your distribution centres in every city.. 202 00:10:43,240 --> 00:10:46,240 If you could centralise this more.. - Right.. 203 00:10:46,280 --> 00:10:48,160 You'll need automation technology for this 204 00:10:48,160 --> 00:10:49,200 and I don't see that today. 205 00:10:49,400 --> 00:10:52,800 If you focus on central logistics of the business.. 206 00:10:52,800 --> 00:10:55,120 - Right.. - If you accomplish that 207 00:10:55,120 --> 00:10:56,880 it could become investable. 208 00:10:57,080 --> 00:10:58,240 I'm out for today. 209 00:10:59,480 --> 00:11:01,840 Overall, I see that you're on a right path. 210 00:11:01,840 --> 00:11:03,720 You can focus a lot on this. 211 00:11:04,720 --> 00:11:06,080 So, we wish you luck. 212 00:11:06,240 --> 00:11:07,800 Thank you.. - We've all given you some advice. 213 00:11:07,840 --> 00:11:12,040 It's up to you to implement those.. - Right.. 214 00:11:12,200 --> 00:11:14,280 - Good luck. - Thanks a lot.. - Thank you.. 215 00:11:14,280 --> 00:11:15,120 Thank you, guys. 216 00:11:36,600 --> 00:11:38,720 Hi, Sharks. My name is Nihaal Singh Adarsh. 217 00:11:39,000 --> 00:11:41,720 I'm a 19 year old engineering student. 218 00:11:41,760 --> 00:11:42,920 - Wow! - Wow! 219 00:11:42,960 --> 00:11:44,280 I'm sure you are wondering 220 00:11:44,320 --> 00:11:47,000 that is a 19 year old boy doing here wearing a PP suit. 221 00:11:47,040 --> 00:11:50,400 Yes. - Let me show you what's happening inside this. 222 00:11:57,600 --> 00:12:01,480 Sharks, you can see that I wore this PP suit for an hour 223 00:12:01,560 --> 00:12:02,960 and this my condition. 224 00:12:03,000 --> 00:12:04,720 I'm sweating a lot. 225 00:12:05,480 --> 00:12:08,640 You can imagine the condition health workers 226 00:12:08,640 --> 00:12:12,680 who wear this PP suit for 12 hours during work. 227 00:12:15,120 --> 00:12:17,240 Sharks, my mother is a doctor 228 00:12:17,280 --> 00:12:20,400 and during the Covid wave she dealt with a lot of patients 229 00:12:20,440 --> 00:12:22,640 and she was suffering from a similar problem. 230 00:12:23,960 --> 00:12:25,240 Not just health workers 231 00:12:25,280 --> 00:12:27,000 powder fillers of chemical industry 232 00:12:27,040 --> 00:12:28,840 tablet packers from Pharmaceuticals 233 00:12:28,880 --> 00:12:30,800 painters in a car shop. 234 00:12:31,080 --> 00:12:32,600 Basically, every person 235 00:12:32,640 --> 00:12:35,760 who is wearing a personal protective kit 236 00:12:35,800 --> 00:12:38,800 risking their life to help others. 237 00:12:38,840 --> 00:12:39,920 This is the condition for all of them. 238 00:12:39,960 --> 00:12:41,160 Especially in tropical countries. 239 00:12:42,280 --> 00:12:45,280 And to solve this problem I made this device. 240 00:12:46,320 --> 00:12:48,000 Cov-Tech ventilation system. 241 00:12:48,040 --> 00:12:51,360 This device is a highly compact, ergonomic ventilation system 242 00:12:51,400 --> 00:12:55,440 which can attach to any PP kit like a play and play device 243 00:12:55,480 --> 00:12:57,200 and ventilates it from inside. 244 00:12:57,240 --> 00:12:59,520 Sharks, I've been an innovator since childhood. 245 00:12:59,560 --> 00:13:00,640 I'm an innovator. 246 00:13:00,960 --> 00:13:03,960 I opened my company called Watt Technovations. 247 00:13:04,000 --> 00:13:07,040 I have the vision to innovate a lot of products like this. 248 00:13:07,080 --> 00:13:10,800 And I have a lot of plans and hopes for this product 249 00:13:10,840 --> 00:13:14,480 to scale it so that we can help a lot of people in the world. 250 00:13:14,520 --> 00:13:19,120 - My ask is Rs. 101. - Wow! 251 00:13:19,880 --> 00:13:21,560 For two percent of my company. 252 00:13:21,800 --> 00:13:24,240 Which Shark would like to shake my hand. 253 00:13:25,000 --> 00:13:26,200 Take it right away. 254 00:13:28,040 --> 00:13:30,120 What is this? 255 00:13:31,200 --> 00:13:33,960 I'm a 19 year old passionate innovator, Sharks 256 00:13:34,000 --> 00:13:37,200 Mr. Peyush, you are a tech geek and I'm a tech geek too. 257 00:13:37,520 --> 00:13:41,440 Basically, I'm here to connect with you. 258 00:13:42,520 --> 00:13:44,760 I have a lot of big plans, everybody. 259 00:13:44,800 --> 00:13:47,120 And I really want to get into this field. 260 00:13:47,160 --> 00:13:49,200 Won't you finish engineering? 261 00:13:49,240 --> 00:13:50,480 I'm doing engineering. 262 00:13:50,520 --> 00:13:53,360 - You're doing it together. - Yes. I'm doing it parallelly. 263 00:13:53,640 --> 00:13:55,240 Some of you are engineers 264 00:13:55,280 --> 00:13:57,560 and you know that studying is done one month before. 265 00:13:59,480 --> 00:14:01,160 How do you fit it in a PP suit? 266 00:14:01,200 --> 00:14:02,880 - Can you show us? - Yes, absolutely. 267 00:14:13,800 --> 00:14:15,360 Where are you getting the wind? All over? 268 00:14:15,400 --> 00:14:17,440 I don't want to say where the wind is blowing. 269 00:14:19,520 --> 00:14:22,160 I think you'll take off. 270 00:14:23,000 --> 00:14:25,200 I understood it. Keep it. 271 00:14:25,240 --> 00:14:27,720 - We've understood. - We understood. 272 00:14:29,200 --> 00:14:30,720 Isn't the sound 273 00:14:30,760 --> 00:14:34,480 loud and irritating? 274 00:14:35,760 --> 00:14:38,160 Yes, some users were complaining about that. 275 00:14:38,200 --> 00:14:41,280 We are trying to reduce it with iterations. 276 00:14:41,320 --> 00:14:43,920 The problem is, since the filter is heavy 277 00:14:43,960 --> 00:14:46,800 I have to run the motor at a higher RPM to filter the air. 278 00:14:46,840 --> 00:14:48,560 I think I have two options. 279 00:14:48,840 --> 00:14:53,560 I can work in heat and sweat 280 00:14:53,600 --> 00:14:57,800 or work with this sound. 281 00:14:59,240 --> 00:15:01,920 This is good feedback, Nihaal. You should incorporate this. 282 00:15:01,960 --> 00:15:03,960 Yes, I will work in this. 283 00:15:04,000 --> 00:15:06,200 Nihaal, what do you want to do? What's the plan ahead? 284 00:15:06,240 --> 00:15:07,880 I want to grow a tech company 285 00:15:08,880 --> 00:15:13,160 the vision is to identify a lot of problems for common people. 286 00:15:13,240 --> 00:15:15,000 I've learned to identify since childhood. 287 00:15:15,040 --> 00:15:17,120 I'm really grateful that I learned 288 00:15:17,160 --> 00:15:19,800 that I can identify the problem and build an affordable 289 00:15:19,840 --> 00:15:24,200 and widely scalable solution 290 00:15:24,240 --> 00:15:25,880 in the tech domain. 291 00:15:26,480 --> 00:15:28,480 Nihaal, I would like to say something to you 292 00:15:28,520 --> 00:15:30,760 that you are very impressive 293 00:15:31,200 --> 00:15:34,920 and innovative and you're into the depth of the problem 294 00:15:34,960 --> 00:15:39,560 and you have to channel your innovation. 295 00:15:40,600 --> 00:15:44,560 I know this is not your vision to make a PP kit fan. 296 00:15:44,960 --> 00:15:46,200 Yes. - Mine wasn't Lenskart either. 297 00:15:46,240 --> 00:15:47,640 I did a lot of things first 298 00:15:47,680 --> 00:15:49,920 but when I came to eyewear 299 00:15:49,960 --> 00:15:53,280 I slowly learned that this is my life's work 300 00:15:53,320 --> 00:15:56,160 that half of the world doesn't wear glasses. 301 00:15:56,200 --> 00:15:58,320 I think you'll find a path. 302 00:15:58,360 --> 00:16:00,240 There's no need to hurry. 303 00:16:00,280 --> 00:16:02,400 - You can grow it big. - Absolutely, sir. 304 00:16:03,680 --> 00:16:06,120 I don't think you should do this business. 305 00:16:07,600 --> 00:16:09,560 I think it's a waste of your time and energy. 306 00:16:11,480 --> 00:16:15,120 Every business and industry has a critical success factor. 307 00:16:15,640 --> 00:16:17,960 You haven't understood that yet. 308 00:16:18,000 --> 00:16:20,880 Just doing innovation won't help. 309 00:16:21,200 --> 00:16:23,680 Just as you spoke about this industry 310 00:16:23,720 --> 00:16:25,480 you must understand it in depth. 311 00:16:25,520 --> 00:16:27,160 Is this is a price driven industry 312 00:16:27,200 --> 00:16:28,800 or innovation driven industry. 313 00:16:28,800 --> 00:16:31,400 You must go in-depth for that, friend. 314 00:16:31,440 --> 00:16:33,000 But for few years 315 00:16:33,040 --> 00:16:35,160 yes, you must do a lot of innovations. 316 00:16:35,240 --> 00:16:37,440 And then you'll find something you'll fall in love with 317 00:16:37,480 --> 00:16:39,160 - and then you'll make it big. - Yes. 318 00:16:39,200 --> 00:16:42,000 I agree with Anupam because I'm from this industry 319 00:16:42,040 --> 00:16:43,680 this product won't sell. 320 00:16:45,400 --> 00:16:47,880 Nihaal, I also want to give you feedback. 321 00:16:47,920 --> 00:16:50,360 Right now I have two things. 322 00:16:50,400 --> 00:16:53,280 Right now the solution isn't elegant. 323 00:16:53,320 --> 00:16:54,360 It is very complicated. 324 00:16:55,520 --> 00:16:58,400 I think you're attached with PP 325 00:16:58,440 --> 00:17:01,680 and where PP plus ventilated PP 326 00:17:01,720 --> 00:17:04,920 can be used with a simple solution 327 00:17:04,960 --> 00:17:06,040 where the doctor only wears it 328 00:17:06,120 --> 00:17:07,920 then maybe that can be scalable. 329 00:17:09,040 --> 00:17:11,000 So that is my suggestion. 330 00:17:11,560 --> 00:17:15,520 Obviously, all of us will be open to give you an offer 331 00:17:15,560 --> 00:17:17,120 as well as adopt you. 332 00:17:17,680 --> 00:17:19,480 There are three mothers here. 333 00:17:19,520 --> 00:17:22,600 From me, you have an offer 334 00:17:22,640 --> 00:17:24,920 but I don't think you should take it. 335 00:17:24,960 --> 00:17:26,320 So I won't say I'm out 336 00:17:26,360 --> 00:17:29,720 I'm open to giving you Rs. 101 for two percent 337 00:17:29,760 --> 00:17:32,720 and I'm happy to give you time when you need. 338 00:17:32,760 --> 00:17:34,720 - Best of luck. - Thank you so much. 339 00:17:36,240 --> 00:17:37,360 - Nihaal. - Yes. 340 00:17:37,400 --> 00:17:39,440 In order to achieve anything 341 00:17:39,480 --> 00:17:41,000 be it small or big 342 00:17:41,520 --> 00:17:43,960 - it takes a lot of hard work. - Yes. 343 00:17:44,920 --> 00:17:47,400 I think I'm there for mentorship 344 00:17:47,440 --> 00:17:50,160 because I want you to understand 345 00:17:50,200 --> 00:17:54,880 that even to raise so much money it takes a lot of hard work. 346 00:17:57,000 --> 00:17:58,960 Nihaal, I'll tell you something. 347 00:17:59,160 --> 00:18:01,120 At the age of 19 348 00:18:01,160 --> 00:18:03,400 you're speaking with such maturity 349 00:18:03,440 --> 00:18:05,720 you are thinking so ahead of everyone 350 00:18:05,760 --> 00:18:07,360 impossible to say no. 351 00:18:07,400 --> 00:18:09,880 I'm giving you an offer. My cheque is ready. 352 00:18:10,720 --> 00:18:12,400 I'm just very impressed with you. 353 00:18:12,720 --> 00:18:15,040 I'm sure you'll do something in the future. 354 00:18:15,760 --> 00:18:17,680 I would like to give you an offer. 355 00:18:17,720 --> 00:18:21,120 Either take Rs. 101 for two percent from me. 356 00:18:21,160 --> 00:18:23,240 Or Anupam and I will split it 357 00:18:23,280 --> 00:18:25,880 to show that we believe in you 358 00:18:25,920 --> 00:18:28,600 and we want to be with you for the long term 359 00:18:28,640 --> 00:18:31,600 as mentors and as people who give expertise 360 00:18:31,640 --> 00:18:34,000 and as people who give you connections. - Yes. 361 00:18:34,040 --> 00:18:35,920 The reason we want to take two percent 362 00:18:35,960 --> 00:18:38,840 because I'm sure if not this device 363 00:18:38,880 --> 00:18:42,600 you'll surely do something else 364 00:18:42,640 --> 00:18:43,760 in which I'll become a millionaire. 365 00:18:43,800 --> 00:18:44,840 You got it, ma'am. 366 00:18:45,840 --> 00:18:48,760 - Anupam, either we'll split.. - Sure.. 367 00:18:48,800 --> 00:18:50,760 - No problem. - We should invest in him. 368 00:18:51,800 --> 00:18:53,680 Look, you're asking for Rs. 101. 369 00:18:53,720 --> 00:18:56,640 I'll give you Rs. 1100. There's no problem. 370 00:18:57,000 --> 00:19:01,440 But I don't think it's right to take two percent now. 371 00:19:03,040 --> 00:19:05,200 I'll give you a better idea. 372 00:19:05,640 --> 00:19:08,680 - I'll give you my phone number. - Okay. 373 00:19:08,920 --> 00:19:12,800 Whenever you need help, you can reach me. 374 00:19:12,840 --> 00:19:14,520 When you bring out your first idea 375 00:19:14,560 --> 00:19:16,080 which can be made big 376 00:19:16,120 --> 00:19:18,280 I'll be the first investor in that. 377 00:19:19,400 --> 00:19:21,480 You can give advisory shares to anyone. 378 00:19:21,520 --> 00:19:23,520 It's not advisory, it's equity 379 00:19:23,560 --> 00:19:24,960 through which I'll become a millionaire. 380 00:19:25,800 --> 00:19:27,360 Don't say it's advisory. 381 00:19:27,640 --> 00:19:30,440 In future.. 382 00:19:30,480 --> 00:19:32,120 Why are you bothering him? 383 00:19:32,160 --> 00:19:35,720 Sir, I have an extra offer, not a counteroffer. 384 00:19:35,760 --> 00:19:39,480 I'll raise it to four percent, but can we have you too? 385 00:19:39,520 --> 00:19:42,320 - Yes, sure. Take Rs. 1100. - Come on, Peyush. 386 00:19:42,600 --> 00:19:43,720 Take it. 387 00:19:44,400 --> 00:19:46,360 Here is Rs. 101. 388 00:19:46,400 --> 00:19:49,160 - All of you owe me Rs. 25 each. - Yes. 389 00:19:49,200 --> 00:19:52,240 Give me Rs. 25. I'll put Rs. 26. 390 00:19:52,280 --> 00:19:53,760 Thank you so much, sir. 391 00:19:55,960 --> 00:19:57,840 - All the best. - Thank you so much, ma'am.. 392 00:19:57,880 --> 00:20:00,200 - You have to go far ahead. - Yes, ma'am. 393 00:20:00,240 --> 00:20:01,280 And you'll do it. 394 00:20:01,320 --> 00:20:03,560 One condition in the contract. 395 00:20:03,600 --> 00:20:06,000 All the innovations will happen under this company. 396 00:20:06,040 --> 00:20:07,320 - That's obvious. - Yes. 397 00:20:07,320 --> 00:20:08,800 Don't make a new company. 398 00:20:08,840 --> 00:20:09,760 Builders' sale. 399 00:21:14,920 --> 00:21:16,760 Pal, it's five in the evening. 400 00:21:16,800 --> 00:21:18,360 Sharks are before us. 401 00:21:18,400 --> 00:21:19,800 Aliste boys are here. 402 00:21:19,840 --> 00:21:22,240 There are lights or curtains. What are you doing all day? 403 00:21:22,400 --> 00:21:24,680 Bunty, what did I teach you? 404 00:21:24,720 --> 00:21:26,080 I hired you to do this. Do it. 405 00:21:26,360 --> 00:21:29,320 You're so lazy. Do you do anything except lay eggs? 406 00:21:30,000 --> 00:21:32,200 Yes, I'm lazy. What will you do? Here you go. 407 00:21:33,440 --> 00:21:35,040 - Take it. - Oh, God! 408 00:21:41,720 --> 00:21:43,080 Can't you do even this properly? 409 00:21:43,120 --> 00:21:45,640 Look at them. In which era are they living? 410 00:21:45,760 --> 00:21:48,720 Shreyansh. - Hey, Siri, turn on lights. 411 00:21:51,600 --> 00:21:52,760 Yes. 412 00:21:53,960 --> 00:21:55,200 Swag. 413 00:21:55,800 --> 00:21:57,680 Hi Sharks, we are Aliste. 414 00:21:57,760 --> 00:22:00,200 And today we are here 415 00:22:00,360 --> 00:22:01,400 to turn every Indian house into a smart home. 416 00:22:01,480 --> 00:22:02,840 You can not only automate our gadgets but also 417 00:22:02,960 --> 00:22:04,440 most of the gadgets 418 00:22:04,560 --> 00:22:07,760 present in your house. 419 00:22:07,840 --> 00:22:10,320 And you can control them from anywhere in the world. 420 00:22:10,760 --> 00:22:12,440 Sharks, we feel that 421 00:22:12,560 --> 00:22:13,520 in the future every new house 422 00:22:13,680 --> 00:22:15,360 will be a smart house. 423 00:22:15,560 --> 00:22:18,000 And with your help 424 00:22:18,120 --> 00:22:19,040 we can establish ourselves in this market. 425 00:22:19,120 --> 00:22:20,680 That's why we are seeking Rs. 60 lakh against 426 00:22:20,760 --> 00:22:22,720 5 percent equity. 427 00:22:23,400 --> 00:22:25,080 Sharks, we would want 428 00:22:25,200 --> 00:22:26,720 you to try our product once. 429 00:22:26,840 --> 00:22:28,480 Sure, we would love to try. 430 00:22:28,600 --> 00:22:30,160 Let's all go. 431 00:22:31,760 --> 00:22:34,120 - Is this the bedside lamp? - Yes. 432 00:22:35,080 --> 00:22:37,760 - Nice. - Nice. - This is really good. 433 00:22:37,840 --> 00:22:38,920 You all are enjoying it so much. 434 00:22:39,000 --> 00:22:40,720 You already are visualising it in your house. 435 00:22:42,160 --> 00:22:43,800 Who among you is going to give an offer? 436 00:22:43,920 --> 00:22:45,520 Anupam, are you a founder or a shark? 437 00:22:46,040 --> 00:22:47,480 He is already in our team. 438 00:22:47,640 --> 00:22:48,840 He is already in their team. 439 00:22:48,960 --> 00:22:50,200 We all are young. 440 00:22:50,280 --> 00:22:53,760 - So, all of us joined. - Very nice. - Oh! 441 00:22:54,560 --> 00:22:55,840 Are you saying that we are old? 442 00:22:55,960 --> 00:22:56,920 No. 443 00:22:57,040 --> 00:22:59,520 We mean, get on the board as you are also young. 444 00:22:59,720 --> 00:23:00,840 Nice save. 445 00:23:02,120 --> 00:23:04,320 - This is wonderful. - Wonderful. 446 00:23:04,440 --> 00:23:06,880 - Great demo. - Good stuff, guys. 447 00:23:10,480 --> 00:23:11,680 What's your age? 448 00:23:11,840 --> 00:23:12,880 23. 449 00:23:12,960 --> 00:23:14,760 23. - So guys 450 00:23:14,880 --> 00:23:15,920 welcome to Shark Tank. 451 00:23:16,160 --> 00:23:18,840 Thank you, sir. - Are you six the co-founders? 452 00:23:19,000 --> 00:23:20,880 Yes. - Please tell us how you all joined. 453 00:23:21,000 --> 00:23:23,360 Sir, we met in college 454 00:23:23,520 --> 00:23:25,240 and we started living in the same house. 455 00:23:25,400 --> 00:23:27,440 And we used to enjoy in the same room. 456 00:23:27,560 --> 00:23:29,200 So, the switchboard in our room 457 00:23:29,240 --> 00:23:31,080 was little away from the bed. 458 00:23:33,200 --> 00:23:35,360 So, we used to argue about 459 00:23:35,480 --> 00:23:36,480 who will switch on the AC. 460 00:23:36,560 --> 00:23:39,280 So, you showed us the reality. 461 00:23:39,320 --> 00:23:40,400 Yes. 462 00:23:40,480 --> 00:23:43,480 Me and my husband too fight about this every night. 463 00:23:43,520 --> 00:23:46,560 Yes. - Who will switch off the light. 464 00:23:46,720 --> 00:23:48,880 This happens in every house. That's why we made this. 465 00:23:49,800 --> 00:23:51,720 Jokes apart. 466 00:23:52,080 --> 00:23:53,160 Let's talk about the business. 467 00:23:53,600 --> 00:23:56,240 What kind of products do you build? 468 00:23:56,480 --> 00:23:59,280 Are you making a platform, software 469 00:23:59,440 --> 00:24:01,200 hardware or what? Please explain that. 470 00:24:01,440 --> 00:24:03,800 So, our product 471 00:24:04,160 --> 00:24:06,320 is a debit card sized device. 472 00:24:06,400 --> 00:24:07,400 Okay. 473 00:24:07,440 --> 00:24:10,240 We can fit that behind our existing switchboard. 474 00:24:10,400 --> 00:24:12,360 And we can control 475 00:24:12,560 --> 00:24:15,160 all the home appliances 476 00:24:15,280 --> 00:24:17,600 using our mobile phone. 477 00:24:17,800 --> 00:24:20,040 Also, to make the ecosystem strong 478 00:24:20,200 --> 00:24:21,840 we have built smart curtains 479 00:24:21,920 --> 00:24:22,840 smart door locks 480 00:24:22,880 --> 00:24:25,240 and CCTV integration. 481 00:24:25,320 --> 00:24:26,400 Because we want our customer to get all the solutions 482 00:24:26,440 --> 00:24:29,520 in one single application. 483 00:24:29,600 --> 00:24:32,400 So, you sell to customers or businesses? 484 00:24:32,560 --> 00:24:33,960 We have two channels. 485 00:24:34,040 --> 00:24:35,080 One is B to B. 486 00:24:35,120 --> 00:24:36,400 And the other one is B to C. - Understood. 487 00:24:36,560 --> 00:24:37,560 - Okay. - Thank you. 488 00:24:37,640 --> 00:24:41,120 This is not a new technology. 489 00:24:42,280 --> 00:24:44,120 Many companies 490 00:24:44,280 --> 00:24:45,440 do offer this product. 491 00:24:45,560 --> 00:24:47,120 What's so unique in this? 492 00:24:47,200 --> 00:24:48,720 We have already some players in the market. 493 00:24:48,800 --> 00:24:51,520 We consider this market as split into two parts. 494 00:24:51,840 --> 00:24:53,920 One is of expensive products. 495 00:24:54,040 --> 00:24:55,840 Companies such as Legrand sell them. 496 00:24:56,160 --> 00:24:58,160 Their solutions are very expensive 497 00:24:58,280 --> 00:24:59,320 but they are reliable. 498 00:24:59,440 --> 00:25:01,320 The other category consists of Chinese products. 499 00:25:01,400 --> 00:25:02,920 They are very cheap. 500 00:25:03,080 --> 00:25:04,080 Traders sell them. 501 00:25:04,200 --> 00:25:06,080 So, there is a very big gap in the market. 502 00:25:06,200 --> 00:25:07,960 So, we thought of catering that. 503 00:25:08,120 --> 00:25:10,680 How much does your switchboard cost? 504 00:25:10,800 --> 00:25:12,200 That depends on the number of switches. 505 00:25:12,320 --> 00:25:14,480 But generally 506 00:25:14,640 --> 00:25:15,960 the switchboard with five switches 507 00:25:16,160 --> 00:25:18,400 will cost Rs. 12000. 508 00:25:18,480 --> 00:25:20,920 In average projects the selling price 509 00:25:20,960 --> 00:25:22,600 is around Rs. 8000. 510 00:25:22,720 --> 00:25:24,840 The manufacturing cost 511 00:25:24,920 --> 00:25:26,920 of this device is Rs. 1100. 512 00:25:27,000 --> 00:25:29,560 And to our distributors we give it for 513 00:25:29,680 --> 00:25:31,680 Rs.4500 plus GST. 514 00:25:31,760 --> 00:25:34,960 Distributor adds their margin 515 00:25:35,040 --> 00:25:36,120 and the customer gets it 516 00:25:36,160 --> 00:25:40,240 for Rs. 9000 plus GST. 517 00:25:41,800 --> 00:25:43,040 What's the revenue? 518 00:25:43,320 --> 00:25:46,200 Total revenue so far is Rs. 1.1 Crore. 519 00:25:47,240 --> 00:25:49,080 It has been roughly 520 00:25:49,200 --> 00:25:50,120 around 15 months. 521 00:25:50,560 --> 00:25:53,040 And if you ask the year to date 522 00:25:53,160 --> 00:25:54,800 it is around Rs. 63 lakh. 523 00:25:54,880 --> 00:25:55,920 How much was it last month? 524 00:25:56,080 --> 00:25:58,200 Approximately Rs. 7.5 lakh. 525 00:25:58,240 --> 00:25:59,400 Net profit? 526 00:25:59,760 --> 00:26:02,760 Approximately 40 percent. 527 00:26:03,080 --> 00:26:04,240 40 percent. 528 00:26:04,360 --> 00:26:06,080 You are five years late. 529 00:26:07,880 --> 00:26:09,160 There are two businesses here. 530 00:26:09,240 --> 00:26:10,160 B to B and B to C. 531 00:26:10,280 --> 00:26:11,480 B to C is over. 532 00:26:12,600 --> 00:26:15,080 Manufacturers are manufacturing 533 00:26:15,200 --> 00:26:18,680 devices that connect 534 00:26:18,840 --> 00:26:21,520 with Alexa and Google Home. 535 00:26:22,680 --> 00:26:24,160 It takes me seconds 536 00:26:24,520 --> 00:26:25,640 to turn on Alexa, pair it and say 537 00:26:25,760 --> 00:26:29,280 turn on the bulb or turn it off. 538 00:26:29,400 --> 00:26:31,480 But now this has become a toy. 539 00:26:33,520 --> 00:26:37,000 So, people buy it and play a little with their kids. 540 00:26:37,400 --> 00:26:38,720 Then they switch it off 541 00:26:38,880 --> 00:26:41,080 because it is highly inconvenient. 542 00:26:41,320 --> 00:26:43,960 For this to work 543 00:26:44,960 --> 00:26:45,960 all the appliances has to become smart. 544 00:26:47,960 --> 00:26:49,960 Sir, let me tell you why we cater the consumers. 545 00:26:50,080 --> 00:26:51,920 We believe that the construction market 546 00:26:52,040 --> 00:26:54,040 is always going up. 547 00:26:54,120 --> 00:26:55,720 When you are getting your home constructed 548 00:26:55,840 --> 00:26:57,840 you are already spending a lot of money. 549 00:26:57,880 --> 00:27:00,760 Then I might buy Daikin's smart AC 550 00:27:00,840 --> 00:27:02,520 or I might buy any smart fan. 551 00:27:02,680 --> 00:27:04,560 But there are many different things in my house. 552 00:27:04,680 --> 00:27:05,840 When I install the lights 553 00:27:05,960 --> 00:27:08,160 I focus on the design too for the aesthetic appeal. 554 00:27:08,240 --> 00:27:09,560 So, from us 555 00:27:09,680 --> 00:27:11,400 the customer gets 556 00:27:11,560 --> 00:27:12,480 a one stop solution for everything. 557 00:27:12,560 --> 00:27:13,880 I agree. 558 00:27:14,000 --> 00:27:15,520 What I meant is that 559 00:27:15,640 --> 00:27:17,680 your business is a B to B business. 560 00:27:17,920 --> 00:27:20,120 Because generally people get their houses made 561 00:27:20,280 --> 00:27:22,200 with the help of a designer or an architect. 562 00:27:22,640 --> 00:27:24,520 They usually recommend what to buy. 563 00:27:24,640 --> 00:27:26,120 And when it comes to the construction business 564 00:27:26,240 --> 00:27:27,280 the builder decides. 565 00:27:27,360 --> 00:27:30,200 Right. - So B to C is impossible in this space 566 00:27:30,360 --> 00:27:31,400 in the current scenario. 567 00:27:32,480 --> 00:27:35,120 You want to raise money 568 00:27:35,160 --> 00:27:37,080 but where do you want to use it? 569 00:27:38,240 --> 00:27:42,320 We have two confirmed orders from two builders. 570 00:27:42,440 --> 00:27:45,800 So, our approved revenue for the next two years 571 00:27:45,920 --> 00:27:47,720 is close to Rs. 4 Crore. 572 00:27:47,920 --> 00:27:50,760 So, to fulfil that demand 573 00:27:50,880 --> 00:27:51,800 we need some money. 574 00:27:51,880 --> 00:27:55,320 And we need money to improve the technical 575 00:27:55,440 --> 00:27:57,400 bandwidth of our company. 576 00:27:58,280 --> 00:28:00,800 I would like to leave 577 00:28:02,480 --> 00:28:05,080 because this is not relevant for me. 578 00:28:05,240 --> 00:28:07,680 Because for me B to B scaling 579 00:28:07,800 --> 00:28:09,560 is a concern 580 00:28:09,640 --> 00:28:11,160 unless you have the relevant experience. 581 00:28:11,400 --> 00:28:13,280 So, I would like to leave. 582 00:28:14,720 --> 00:28:16,360 Me too 583 00:28:17,480 --> 00:28:19,600 because I'm unable 584 00:28:21,280 --> 00:28:23,480 to relate much to this product. 585 00:28:23,640 --> 00:28:25,560 And I've expertise in this. 586 00:28:25,680 --> 00:28:27,040 So, for that reason I'm out. 587 00:28:28,480 --> 00:28:31,120 But the enthusiasm that you have at the age of 23 588 00:28:31,520 --> 00:28:33,880 and the quality which I saw 589 00:28:34,280 --> 00:28:36,160 is fantastic. - Thank you so much, ma'am. 590 00:28:38,040 --> 00:28:40,120 Your ambition is little small. 591 00:28:42,080 --> 00:28:44,280 You want to give builders your product 592 00:28:44,400 --> 00:28:45,520 for credit. 593 00:28:45,560 --> 00:28:46,640 Then you want to go to someone's house 594 00:28:46,720 --> 00:28:47,800 and understand their requirement. 595 00:28:48,240 --> 00:28:50,600 Why don't you see a vision where you'll build 596 00:28:50,680 --> 00:28:52,760 an affordable new age home 597 00:28:52,920 --> 00:28:54,560 for India? 598 00:28:54,720 --> 00:28:55,800 Are you in or out? 599 00:28:55,920 --> 00:28:57,360 Let me give the feedback. 600 00:28:59,360 --> 00:29:00,440 Okay? 601 00:29:01,880 --> 00:29:04,440 Ask them if they are here for an advice or money. 602 00:29:04,720 --> 00:29:06,280 Both. 603 00:29:06,360 --> 00:29:07,840 According to me it is a big opportunity. 604 00:29:08,040 --> 00:29:10,800 And you should be able to sell it for Rs. 800 per room 605 00:29:11,120 --> 00:29:15,320 instead of Rs. 8000. 606 00:29:15,560 --> 00:29:17,080 Then you will see the business growing. 607 00:29:18,480 --> 00:29:21,000 So, I'm out today. 608 00:29:23,320 --> 00:29:26,440 I agree to what Piyush said. 609 00:29:28,680 --> 00:29:30,920 That's why I'm out. 610 00:29:33,200 --> 00:29:35,080 You must think in a different way 611 00:29:35,200 --> 00:29:37,240 if you want to do something big. 612 00:29:37,320 --> 00:29:39,600 As far as home automation is concerned 613 00:29:39,760 --> 00:29:42,320 that business is cornered by big tech. 614 00:29:42,480 --> 00:29:43,960 Google, Apple 615 00:29:44,120 --> 00:29:45,320 Amazon Alexa, etc. 616 00:29:45,640 --> 00:29:48,160 It will be very tough for you to make a position there. 617 00:29:50,040 --> 00:29:51,240 But I've a good news for you. 618 00:29:53,040 --> 00:29:54,560 I can give you an offer. 619 00:29:57,480 --> 00:30:00,360 You work with the builders. Am I right? 620 00:30:00,440 --> 00:30:03,200 Sometimes it is tough to get money from them. 621 00:30:03,440 --> 00:30:05,960 So, I want to finance that gap for you. 622 00:30:07,440 --> 00:30:09,160 I'll give you Rs. 10 lakh 623 00:30:09,560 --> 00:30:11,280 for 10 percent of your company. 624 00:30:12,320 --> 00:30:14,720 And I'll give Rs. 50 lakhs as debt 625 00:30:15,160 --> 00:30:19,960 for which you'll give me 12 percent interest. 626 00:30:22,440 --> 00:30:23,920 Can we take one minute? 627 00:30:23,960 --> 00:30:25,520 - Sure. - Thank you. 628 00:30:28,360 --> 00:30:30,520 I was interested in investing in those kids. 629 00:30:30,640 --> 00:30:32,520 Anupam is right. It is very risky. 630 00:30:35,640 --> 00:30:36,840 The army is back. 631 00:30:36,920 --> 00:30:38,320 The army. 632 00:30:38,840 --> 00:30:41,200 Respectfully we would like to give a counter offer. 633 00:30:41,720 --> 00:30:42,720 Tell me. 634 00:30:42,840 --> 00:30:44,400 If possible we request for 85 lakhs 635 00:30:44,520 --> 00:30:46,280 for ten percent of our company. 636 00:30:50,960 --> 00:30:52,760 - This is a very risky business. - Right. 637 00:30:52,920 --> 00:30:55,720 My confidence is in you guys. 638 00:30:55,840 --> 00:30:57,040 I feel like my debt will be cleared somehow. 639 00:30:58,160 --> 00:31:00,920 And I wanted to motivate you guys. - Yes. 640 00:31:01,000 --> 00:31:02,760 I can't take more risk than that. 641 00:31:02,880 --> 00:31:04,000 I'm here to make money. 642 00:31:04,120 --> 00:31:06,400 So, I'm sorry I've to decline. - Sure. 643 00:31:08,360 --> 00:31:10,480 But enjoyed watching you guys. 644 00:31:10,640 --> 00:31:14,960 - So, thank you so much. - Thank you. - Thank you. 645 00:31:15,080 --> 00:31:18,360 Don't be upset. - Not at all. - There is nothing as such. 646 00:31:18,480 --> 00:31:19,760 Keep going. 647 00:31:19,880 --> 00:31:21,080 You all are young. 648 00:31:21,120 --> 00:31:22,480 - Only 23. - Yes. 649 00:31:23,000 --> 00:31:24,800 We wish to sit on these seats some day. 650 00:31:26,360 --> 00:31:27,720 That day is not very far. Thank you so much. 651 00:31:27,840 --> 00:31:28,880 That's the spirit. 652 00:31:29,040 --> 00:31:30,880 - All the best. - Thank you. 653 00:31:30,960 --> 00:31:32,600 Thank you. All the best. 654 00:32:07,760 --> 00:32:10,360 After studying many such issues 655 00:32:10,480 --> 00:32:11,520 I am Ravi Mathur. 656 00:32:11,680 --> 00:32:13,680 I am Shilpa. We are the co-founders 657 00:32:13,720 --> 00:32:14,720 of 'Insurance Samadhan'. 658 00:32:14,760 --> 00:32:16,800 Sharks, try to remember the time 659 00:32:16,880 --> 00:32:20,920 when a family member or a friend was admitted to a hospital. 660 00:32:21,160 --> 00:32:23,440 We buy an insurance with the hope that 661 00:32:23,520 --> 00:32:26,080 it will help us during a difficult time. 662 00:32:26,280 --> 00:32:29,400 But we are always worried if we can claim it or not. 663 00:32:30,760 --> 00:32:32,960 This is a big problem in our country. 664 00:32:33,440 --> 00:32:35,720 People do not have the knowledge about insurance policies. 665 00:32:35,800 --> 00:32:37,920 Therefore, it leads to mis-selling. 666 00:32:38,800 --> 00:32:40,880 An elderly person is sold an insurance 667 00:32:40,960 --> 00:32:42,160 in lieu of an F.D. 668 00:32:42,240 --> 00:32:45,680 A businessman is sold an insurance in lieu of a loan. 669 00:32:45,960 --> 00:32:48,400 After studying many such issues 670 00:32:48,560 --> 00:32:52,600 and using our 45 years of combined experience 671 00:32:52,800 --> 00:32:55,160 we started 'Insurance Samadhan'. 672 00:32:56,840 --> 00:32:59,040 Sharks, in our three years of journey 673 00:32:59,120 --> 00:33:02,760 we have resolved over 14,000 complaints. 674 00:33:02,960 --> 00:33:05,400 And we have helped people receive their claim amount 675 00:33:05,480 --> 00:33:07,200 of more than 30 crore rupees 676 00:33:07,280 --> 00:33:08,480 - which was rightfully theirs. - Wow! 677 00:33:08,840 --> 00:33:11,440 Sharks, I am glad to tell you that 678 00:33:11,520 --> 00:33:13,840 we are the only start-up in Asia 679 00:33:13,920 --> 00:33:15,760 which provides solutions to the problems regarding 680 00:33:15,920 --> 00:33:17,480 all three types of insurances 681 00:33:17,520 --> 00:33:20,000 namely, life, health, and general insurance. 682 00:33:21,280 --> 00:33:24,400 For that, we offer you one percent of our company 683 00:33:24,440 --> 00:33:26,360 for one crore rupees. 684 00:33:26,640 --> 00:33:28,920 - Oh! - Wow! 685 00:33:28,960 --> 00:33:31,280 - Sharks, since.. - I want an insurance. 686 00:33:32,120 --> 00:33:33,800 Since we hold your hands honestly 687 00:33:33,840 --> 00:33:35,120 we will be there with you on every step. 688 00:33:35,200 --> 00:33:37,200 Give us an insurance for this as well. 689 00:33:40,640 --> 00:33:43,080 So, Deepak, Ravi, Shilpa.. 690 00:33:43,120 --> 00:33:44,680 - Congratulations. - Thank you. 691 00:33:44,720 --> 00:33:49,360 You have brought a solution to such a big problem. 692 00:33:49,400 --> 00:33:51,320 - And a very high valuation too. - Yes. 693 00:33:51,400 --> 00:33:53,160 It's a very high valuation as well. 694 00:33:53,760 --> 00:33:55,600 Mr. Anupam almost fell off his chair. 695 00:33:55,960 --> 00:33:58,520 So, how do you know one another? 696 00:33:58,600 --> 00:34:00,080 What are your roles? 697 00:34:00,120 --> 00:34:01,240 All three of you are the co-founders 698 00:34:01,320 --> 00:34:02,840 of this business. How do you share the equity. 699 00:34:02,920 --> 00:34:04,320 Give us some information regarding that. 700 00:34:04,520 --> 00:34:06,240 - There are five co-founders. - Okay. 701 00:34:06,280 --> 00:34:07,160 Three of us are here. 702 00:34:07,480 --> 00:34:09,120 Two are back home, working hard. 703 00:34:09,200 --> 00:34:12,720 The three co-founders, Shilpa, Shailesh, and I 704 00:34:12,800 --> 00:34:15,320 used to work for 'Max Life Insurance'. 705 00:34:15,360 --> 00:34:16,520 In 2014 706 00:34:16,640 --> 00:34:20,440 we met a senior police officer in Delhi. 707 00:34:20,480 --> 00:34:23,840 He told us that his father who was 72 years old back then 708 00:34:23,880 --> 00:34:25,200 was a victim of fraud. 709 00:34:25,280 --> 00:34:27,240 The fraud continued for six years. 710 00:34:27,280 --> 00:34:28,200 Oh my God! 711 00:34:28,520 --> 00:34:31,320 Total 42 insurance policies of 6 different companies 712 00:34:31,800 --> 00:34:33,520 were sold to him. 713 00:34:33,720 --> 00:34:35,840 The total premium was Rs. 38 lakh. 714 00:34:36,280 --> 00:34:38,120 When he got to know, the best he could do is.. 715 00:34:38,360 --> 00:34:39,160 He suffered a financial fraud. 716 00:34:39,280 --> 00:34:40,320 That person went to the jail. 717 00:34:40,560 --> 00:34:42,280 But despite being a police officer 718 00:34:42,480 --> 00:34:43,520 he couldn't recover even a single penny. 719 00:34:44,120 --> 00:34:45,400 We started helping him. 720 00:34:45,760 --> 00:34:47,400 And within a span of 4 to 5 months 721 00:34:47,640 --> 00:34:50,600 we helped him to recover the entire money. - Amazing! 722 00:34:51,240 --> 00:34:52,360 - Incredible! - Very nice! 723 00:34:52,720 --> 00:34:53,760 - Amazing! - Very nice! 724 00:34:53,880 --> 00:34:55,640 - Thank you. - I can understand. 725 00:34:55,760 --> 00:34:57,720 Going through this.. 726 00:34:57,880 --> 00:35:00,520 Someone did this to you. Losing the faith.. 727 00:35:00,760 --> 00:35:02,160 It's painful. 728 00:35:02,360 --> 00:35:04,960 This work is important. Tell me one thing. 729 00:35:05,040 --> 00:35:07,360 How do you do this? Do you have any product 730 00:35:07,520 --> 00:35:09,680 - or any app? - We have a website. 731 00:35:12,120 --> 00:35:15,520 We have a WhatsApp bot. You write 'Hi'. 732 00:35:15,920 --> 00:35:18,640 A bot will start. It will ask you basic questions. 733 00:35:18,720 --> 00:35:20,440 Your age, police type.. 734 00:35:20,880 --> 00:35:22,560 Few questions depending on the type of problem. 735 00:35:22,760 --> 00:35:24,880 Based on that our engine will tell you 736 00:35:24,960 --> 00:35:27,560 whether your proof will work or not. 737 00:35:27,920 --> 00:35:30,800 If 100 persons approach us 738 00:35:31,280 --> 00:35:34,000 we accept only 5 to 7 cases. 739 00:35:34,360 --> 00:35:36,880 It's not that we don't want to resolve. 740 00:35:36,960 --> 00:35:38,080 We want to. 741 00:35:38,320 --> 00:35:40,520 But the problem is communication gap. 742 00:35:40,720 --> 00:35:42,680 Because insurance is a technical product. 743 00:35:43,200 --> 00:35:46,440 You are informed about the terms and conditions. 744 00:35:46,600 --> 00:35:49,720 Sometimes, you are not informed or you don't understand. 745 00:35:49,960 --> 00:35:51,720 But when the moment of truth comes 746 00:35:51,960 --> 00:35:53,720 you think you are the victim. 747 00:35:53,840 --> 00:35:54,840 That's not the case. 748 00:35:55,280 --> 00:35:56,440 I have understood the user experience. 749 00:35:56,560 --> 00:35:58,720 But how do you earn money? 750 00:35:58,800 --> 00:36:01,400 When your case is solved and you get the money 751 00:36:01,520 --> 00:36:02,520 we take success fees. 752 00:36:02,800 --> 00:36:04,680 - How much do you charge? - 12 per cent as of now. 753 00:36:04,840 --> 00:36:07,080 - 12 per cent. - Yes. - Okay. - That's another USP. 754 00:36:07,320 --> 00:36:08,600 We take money later. 755 00:36:09,440 --> 00:36:14,200 Do you know bad debts is a big problem in India? 756 00:36:14,880 --> 00:36:15,920 Does it happen to you? 757 00:36:16,040 --> 00:36:19,800 The customer gets the money but they take time to pay you. 758 00:36:20,120 --> 00:36:21,640 We don't have bad debts till now. 759 00:36:21,800 --> 00:36:23,600 But this percentage is minuscule. 760 00:36:23,800 --> 00:36:26,080 Because we help them to recover the money that they have lost. 761 00:36:26,120 --> 00:36:27,440 So they become very happy. 762 00:36:27,760 --> 00:36:30,000 Having said that, in our financial projection 763 00:36:30,280 --> 00:36:31,640 we have put 2 per cent as bad debts. 764 00:36:31,720 --> 00:36:33,880 - But we haven't experienced this. - It's very low. 765 00:36:34,080 --> 00:36:35,040 I mean, you are lucky. 766 00:36:35,760 --> 00:36:37,520 But please keep this in mind. 767 00:36:38,040 --> 00:36:39,600 - Because once you scale up - Yes. 768 00:36:40,120 --> 00:36:41,080 there will be two issues. 769 00:36:41,440 --> 00:36:44,000 If you wait for customer's recovery 770 00:36:44,080 --> 00:36:45,080 it will increase your bad debts. 771 00:36:45,520 --> 00:36:46,960 Which is a direct hit to profit. 772 00:36:47,400 --> 00:36:50,920 The second problem is, if your working cycle gets stretched 773 00:36:51,360 --> 00:36:53,600 you will have issues in cash flow. 774 00:36:53,800 --> 00:36:55,320 Second.. Who is your competitor? 775 00:36:55,440 --> 00:36:57,560 Who else does this in India other than your company? 776 00:36:57,760 --> 00:37:00,440 No one in Asia when it comes to claim resolution. 777 00:37:00,600 --> 00:37:01,880 It's a common problem. 778 00:37:01,960 --> 00:37:04,760 How come.. - Why will Policybazaar not do this? 779 00:37:04,840 --> 00:37:06,280 - They will do this. - Yes. 780 00:37:06,600 --> 00:37:08,720 Since Policybazaar sells insurance. 781 00:37:09,000 --> 00:37:12,480 You can't sell and resolve simultaneously. - Yes. - Why? 782 00:37:12,920 --> 00:37:14,200 I am doing customer service. 783 00:37:15,600 --> 00:37:17,640 Suppose I say my problem is related to X company. 784 00:37:17,720 --> 00:37:19,240 You have solved it. After that, what you will do. 785 00:37:19,320 --> 00:37:20,400 You will sell Y company. 786 00:37:20,480 --> 00:37:22,160 X company will not be happy with you. 787 00:37:22,920 --> 00:37:25,200 What's the success rate? What's the conversion rate? 788 00:37:25,360 --> 00:37:26,760 Our success rate is 70 per cent. 789 00:37:27,480 --> 00:37:28,840 - Okay. - How much time 790 00:37:29,040 --> 00:37:30,720 does it take for this resolution 791 00:37:31,000 --> 00:37:32,280 - to happen? - Interesting question. 792 00:37:32,400 --> 00:37:34,080 If you observe industry pattern 793 00:37:34,400 --> 00:37:35,920 it might take 6 months to 2 years. 794 00:37:36,520 --> 00:37:40,960 We take around 45 days to 60 days on an average. 795 00:37:41,040 --> 00:37:43,400 We solved few cases in few days, even in few hours. 796 00:37:43,600 --> 00:37:44,880 I am impressed with one thing. 797 00:37:44,960 --> 00:37:47,040 You are saying your success rate is 70 per cent 798 00:37:47,120 --> 00:37:49,600 out of the complaints you accept. - Yes. 799 00:37:50,280 --> 00:37:53,360 - Word of mouth must be good. - Great. - What I've understood 800 00:37:53,400 --> 00:37:56,360 you've earned Rs. 2 to 3 crore in last couple of years. 801 00:37:57,000 --> 00:38:01,080 you have come here to raise Rs. 1 crore for 1 per cent. 802 00:38:01,200 --> 00:38:03,240 The valuation is Rs. 100 crore. 803 00:38:04,920 --> 00:38:08,800 So I think something is going to happen in next 12 months 804 00:38:09,600 --> 00:38:11,080 your revenue will be justified. 805 00:38:11,600 --> 00:38:13,400 - Very good observation. - What's the trick? 806 00:38:13,560 --> 00:38:16,000 Please explain. 807 00:38:16,440 --> 00:38:17,800 We are doing good from the starting itself. 808 00:38:17,880 --> 00:38:19,320 Suddenly, our revenue has started increasing. 809 00:38:19,400 --> 00:38:20,680 I am giving you an example. 810 00:38:21,200 --> 00:38:23,400 In last 3 financial years 811 00:38:23,760 --> 00:38:24,720 we have earned Rs. 1 crore. 812 00:38:25,080 --> 00:38:26,400 And in this financial year, we have already earned 813 00:38:26,480 --> 00:38:28,760 - more than Rs. 1 crore.. - What about the last month? 814 00:38:29,240 --> 00:38:31,960 - Rs. 22 lakh. - You're growing month on month. 815 00:38:32,280 --> 00:38:33,160 We are growing month on month. 816 00:38:33,240 --> 00:38:35,920 - The most important aspect.. - At what rate? - Rs. 80 crore 817 00:38:36,440 --> 00:38:38,120 is under claim process. 818 00:38:38,280 --> 00:38:39,480 Either with the insurance company 819 00:38:39,800 --> 00:38:41,080 or with other buckets. 820 00:38:41,440 --> 00:38:44,120 As I said, TAT is around 2 to 3 months. 821 00:38:44,440 --> 00:38:46,640 If we resolve even 50 per cent 822 00:38:46,720 --> 00:38:48,400 we will earn Rs. 3 crore to Rs. 4 crore. 823 00:38:51,400 --> 00:38:53,120 I have made up my mind. 824 00:38:53,360 --> 00:38:55,040 I want to tell you something. 825 00:38:55,240 --> 00:38:57,400 Do you understand cricket's T20 format? 826 00:38:57,800 --> 00:38:58,600 Absolutely! 827 00:38:58,640 --> 00:39:02,280 I will explain my investing format as T3. 828 00:39:02,920 --> 00:39:03,800 One is team. 829 00:39:04,320 --> 00:39:05,920 You have a nice team. 830 00:39:06,480 --> 00:39:09,280 The other one is TAM, total addressable market. 831 00:39:09,600 --> 00:39:11,280 - I have observed figures. - Okay. 832 00:39:11,360 --> 00:39:12,440 No matter how hard you try 833 00:39:12,800 --> 00:39:17,200 you can't do business beyond Rs. 125 crore. 834 00:39:18,640 --> 00:39:19,600 That's the problem. 835 00:39:20,600 --> 00:39:21,800 The other problem is timing. 836 00:39:22,560 --> 00:39:25,720 Capital and competition will be more in insurance field. 837 00:39:25,960 --> 00:39:28,440 Many issues will be resolved then and there. 838 00:39:28,840 --> 00:39:32,120 So it will affect your business. 839 00:39:33,280 --> 00:39:35,200 So due to that reason.. Although I love the problem 840 00:39:35,240 --> 00:39:36,120 you are solving. 841 00:39:36,200 --> 00:39:38,120 The time taken to resolve. 842 00:39:40,160 --> 00:39:43,520 I will disagree with Anupam about the scale. 843 00:39:44,040 --> 00:39:47,000 Because one thing is relevant in India 844 00:39:47,440 --> 00:39:50,080 which you know is insurance penetration. 845 00:39:51,000 --> 00:39:52,040 It's very low. 846 00:39:53,120 --> 00:39:55,360 Low single digit comparing to developed countries. 847 00:39:55,840 --> 00:39:59,600 As it will grow, your business will grow too. 848 00:39:59,680 --> 00:40:01,240 The scale is not the issue. 849 00:40:02,480 --> 00:40:07,240 I think your issue is execution 850 00:40:07,760 --> 00:40:10,480 in terms of marketing, customer accusation 851 00:40:11,040 --> 00:40:11,840 bad debts. 852 00:40:12,480 --> 00:40:14,120 The time taken to resolve. 853 00:40:14,600 --> 00:40:18,440 And the valuation you are asking for 854 00:40:18,840 --> 00:40:20,480 I think there is a mismatch. 855 00:40:21,240 --> 00:40:22,680 I am out due to that reason. 856 00:40:24,840 --> 00:40:27,040 Even I will tell you my decision. 857 00:40:29,320 --> 00:40:31,280 Your working capital cycle.. 858 00:40:31,360 --> 00:40:33,800 The more you scale up, it will be longer. 859 00:40:33,840 --> 00:40:34,880 I can see that. 860 00:40:34,960 --> 00:40:39,120 And what you are asking for 861 00:40:39,360 --> 00:40:41,560 1 per cent equity for Rs. 1 crore.. 862 00:40:41,960 --> 00:40:43,600 I think it's too high. 863 00:40:43,880 --> 00:40:47,040 I am not able to calculate the number 864 00:40:47,480 --> 00:40:48,960 considering your current scale. 865 00:40:49,360 --> 00:40:51,320 So I am out due to that reason. 866 00:40:53,200 --> 00:40:54,400 I will give you an offer. 867 00:40:54,440 --> 00:40:56,120 Because I really like your team. 868 00:40:58,120 --> 00:41:00,760 My offer is one crore for 25 per cent. 869 00:41:02,960 --> 00:41:04,720 Because you have conviction.. 870 00:41:04,760 --> 00:41:06,000 And this category.. 871 00:41:06,080 --> 00:41:09,200 My mother fought with the ombudsmen 872 00:41:09,320 --> 00:41:12,440 to recover the money. So, we are fighters but.. 873 00:41:12,560 --> 00:41:13,560 It's a very.. 874 00:41:13,640 --> 00:41:15,800 I think it's a very common problem. 875 00:41:15,920 --> 00:41:17,880 So, guys, you're lucky. You have one offer. 876 00:41:19,200 --> 00:41:20,680 Tell me about the technology you want 877 00:41:20,760 --> 00:41:23,200 to build after three years and about your company's vision 878 00:41:23,240 --> 00:41:24,520 and then I will give you an offer. 879 00:41:24,800 --> 00:41:27,840 Sir, our vision is to provide one app to every policy-holder 880 00:41:28,000 --> 00:41:29,520 in this country 881 00:41:29,520 --> 00:41:31,240 where they can upload their polices 882 00:41:31,400 --> 00:41:33,760 and we will tell them within three to four seconds 883 00:41:33,880 --> 00:41:35,120 whether it will be resolved or not. 884 00:41:35,360 --> 00:41:37,360 We will tell you the success percentage. 885 00:41:37,400 --> 00:41:39,240 This is very good acquisition funnel. 886 00:41:39,320 --> 00:41:41,480 From service we are moving towards product. 887 00:41:41,640 --> 00:41:43,800 So, universally, it will become a thousand times larger. 888 00:41:43,880 --> 00:41:45,760 Every policy-holder will be our opportunity. 889 00:41:45,920 --> 00:41:47,320 Part one. Second.. 890 00:41:47,400 --> 00:41:50,080 We have already closed the pre-series A-round. 891 00:41:50,520 --> 00:41:52,000 You said it too early. 892 00:41:53,120 --> 00:41:54,600 That is our much higher valuation. 893 00:41:54,680 --> 00:41:57,280 In July we signed our first term sheet 894 00:41:57,360 --> 00:41:59,560 at 25 crore post-money valuation. 895 00:41:59,600 --> 00:42:00,800 How much money did you raise? 896 00:42:00,880 --> 00:42:01,720 Five crores. 897 00:42:01,760 --> 00:42:03,680 What is the percentage you diluted for that? 898 00:42:03,800 --> 00:42:04,680 20 per cent. 899 00:42:04,720 --> 00:42:06,760 Why are you asking for more valuation here? 900 00:42:06,880 --> 00:42:09,040 Because the day when we signed the term sheet.. 901 00:42:09,080 --> 00:42:11,120 We have grown four times from then till now. 902 00:42:11,200 --> 00:42:14,120 I will.. After two minutes my offer will be gone. 903 00:42:15,440 --> 00:42:17,320 It's okay. I will.. 904 00:42:17,440 --> 00:42:18,520 I will give you a better offer. 905 00:42:18,600 --> 00:42:20,760 - There's nothing to worry. - You will understand 906 00:42:20,840 --> 00:42:21,760 everyone's reaction because the offer is very good. 907 00:42:21,840 --> 00:42:24,640 Look, she doesn't understand your technology very well. 908 00:42:24,680 --> 00:42:26,280 I don't even want to get into that. 909 00:42:26,400 --> 00:42:27,760 Because I have faith in the team. 910 00:42:27,800 --> 00:42:28,920 They are a very strong team. 911 00:42:29,960 --> 00:42:31,720 But your offer remains same. 25 per cent.. - Yes. 912 00:42:31,880 --> 00:42:33,400 Do you want to take this offer? 913 00:42:33,480 --> 00:42:36,320 That valuation doesn't make sense to us, honestly. 914 00:42:36,480 --> 00:42:38,960 So, you only have one Shark left in this. 915 00:42:39,040 --> 00:42:40,320 - And that's me. Okay? - I will listen to your offer 916 00:42:40,400 --> 00:42:41,320 and then decide. 917 00:42:43,640 --> 00:42:45,440 According to me it's a technology based company. 918 00:42:45,680 --> 00:42:47,280 This isn't a D2C company. 919 00:42:47,360 --> 00:42:49,160 - Do you think that.. - Just a second.. 920 00:42:49,240 --> 00:42:50,640 ...we don't use technology for the cosmetics? - I.. 921 00:42:50,720 --> 00:42:52,440 I don't want to share the investment. 922 00:42:52,560 --> 00:42:54,520 I want to give you the entire amount. 923 00:42:57,240 --> 00:43:00,280 I offer you one core rupees for 10 per cent. 924 00:43:03,040 --> 00:43:05,240 It's five percent of your last valuation. 925 00:43:05,400 --> 00:43:08,040 But I need a lot of help right now. 926 00:43:08,160 --> 00:43:09,720 We have a counter offer to you. 927 00:43:09,800 --> 00:43:10,920 What's there to counter? 928 00:43:11,040 --> 00:43:13,120 You have to raise 100 crores in the next round. 929 00:43:13,200 --> 00:43:14,520 No, more than that. 930 00:43:14,640 --> 00:43:15,680 - So, we are very sure.. - That.. 931 00:43:15,720 --> 00:43:17,160 It's not less than 250 crores. 932 00:43:17,240 --> 00:43:18,680 - So, I can help you.. - Series-A has to be raised. 933 00:43:19,520 --> 00:43:20,680 raise that money. 934 00:43:20,760 --> 00:43:21,640 Indeed, you can. 935 00:43:21,880 --> 00:43:23,480 What's your counter offer then? 936 00:43:23,680 --> 00:43:25,280 See, 1.3 per cent. 937 00:43:25,800 --> 00:43:28,120 - Enjoy Peyush, Bye.. - Oh, come on.. 938 00:43:28,200 --> 00:43:31,800 I will tell you the worst case. I will take five per cent. Okay? 939 00:43:31,880 --> 00:43:33,280 I will not take less than five per cent 940 00:43:33,360 --> 00:43:34,440 because you.. 941 00:43:34,520 --> 00:43:37,000 Then it means that you don't value me. 942 00:43:38,120 --> 00:43:39,640 Okay? I will take minimum five percent 943 00:43:39,720 --> 00:43:41,560 which is your last round valuation, pre-money. 944 00:43:42,200 --> 00:43:43,600 And I can guarantee you 945 00:43:43,720 --> 00:43:45,600 that I will get you a series-A done. 946 00:43:46,440 --> 00:43:47,400 What's your call? 947 00:43:48,880 --> 00:43:52,040 - Can we get two minutes to.. - Yes. - Sure. 948 00:43:54,880 --> 00:43:57,240 Very generous offer. 949 00:43:59,600 --> 00:44:01,920 In three months he will raise series-A. 950 00:44:02,080 --> 00:44:03,800 And the money will be quadruple. 951 00:44:04,000 --> 00:44:05,960 - You have some other.. - 100 per cent. 952 00:44:06,040 --> 00:44:07,960 It's a good offer. There can't be a good offer. 953 00:44:08,040 --> 00:44:09,960 It's a very good offer. 954 00:44:14,800 --> 00:44:16,160 So, tough decision. 955 00:44:18,520 --> 00:44:20,520 But we again have a counter offer. 956 00:44:23,280 --> 00:44:25,160 Two and a half percent for one crore. 957 00:44:25,200 --> 00:44:28,560 - I don't think, Peyush.. - No. I cannot. Sorry. 958 00:44:28,760 --> 00:44:30,320 This is my best offer. 959 00:44:30,560 --> 00:44:32,280 You're making a big mistake. 960 00:44:32,360 --> 00:44:34,040 I was competing with Peyush 961 00:44:34,120 --> 00:44:36,680 but you know, you can't justify such a jump in the valuation 962 00:44:36,720 --> 00:44:38,880 - in just five months. - And I'd also like to say 963 00:44:38,920 --> 00:44:41,920 that if you don't take such decisions 964 00:44:41,920 --> 00:44:43,840 then it will be hard for you to become a big company. 965 00:44:44,880 --> 00:44:48,080 You need to think big to make a big company. 966 00:44:48,800 --> 00:44:50,400 Okay, so, you're at 2.5 per cent 967 00:44:50,520 --> 00:44:52,520 and he is at five per cent. Will you come to five per cent? 968 00:44:53,480 --> 00:44:54,320 No. 969 00:44:56,320 --> 00:44:58,360 Will you match the post-money? Four per cent? 970 00:44:58,400 --> 00:45:00,200 Okay, I will close the deal for four per cent. 971 00:45:00,280 --> 00:45:01,680 Not less than that. I am sorry. 972 00:45:04,720 --> 00:45:06,480 Decision time, guys. Yes or no? 973 00:45:09,760 --> 00:45:10,600 Done. 974 00:45:11,240 --> 00:45:12,960 - Wow! - Wow! - Wow! 975 00:45:13,400 --> 00:45:14,280 - Done. - Done. 976 00:45:14,360 --> 00:45:15,400 - Well done.. - Good deal. 977 00:45:15,480 --> 00:45:17,040 ...Deepak, Ravi, Shilpa. 978 00:45:17,280 --> 00:45:20,280 - Good decision. - Superb - Super.. 979 00:45:20,360 --> 00:45:24,360 And may you help the Indian middle-class save millions. 980 00:45:24,480 --> 00:45:26,600 - Thank you.. - This is our hope 981 00:45:26,800 --> 00:45:28,320 and expectation from you. 982 00:45:31,280 --> 00:45:32,640 I love the logo. 983 00:45:32,720 --> 00:45:34,240 - Yes, I also like it. - This umbrella 984 00:45:34,280 --> 00:45:36,480 to give the protection.. It's beautiful. 985 00:45:41,600 --> 00:45:42,480 Superb! 986 00:45:43,240 --> 00:45:45,000 - Congratulations, guys! - Congratulations. 987 00:45:45,040 --> 00:45:46,040 All the best. 988 00:45:51,280 --> 00:45:52,600 - Wow! - God! 989 00:45:53,440 --> 00:45:56,600 - Awesome. This was good. - Fantastic. 990 00:45:56,680 --> 00:45:58,080 - Great. - Ravi's job is done. 991 00:46:00,520 --> 00:46:03,240 - I will put it here. - Deal closed. 992 00:46:04,920 --> 00:46:06,040 - Peyush.. - Peyush.. 993 00:46:06,120 --> 00:46:07,160 You are going to make a lot of money. 994 00:46:07,200 --> 00:46:09,360 - Very good. - Congratulations! 995 00:46:09,440 --> 00:46:10,520 - Thank you. - Congratulations! 996 00:46:10,600 --> 00:46:12,160 You're going to make a lot of money on this. 997 00:46:12,280 --> 00:46:13,960 - Very good deal. - It's a brilliant deal. 998 00:46:14,040 --> 00:46:16,920 - Either 10x or nothing. - Of course. - Great, man! 999 00:46:17,000 --> 00:46:18,320 You got a great deal! 1000 00:46:18,400 --> 00:46:19,800 Really? Why didn't you join? 1001 00:46:20,520 --> 00:46:22,960 I didn't know the prior investment. - Tempting. 1002 00:46:23,080 --> 00:46:24,560 Yes. I am going to ask that question.. 1003 00:46:24,800 --> 00:46:27,120 - first in the next one. - Your money is gone. 1004 00:46:27,320 --> 00:46:28,200 Thank you.