1 00:00:34,640 --> 00:00:37,760 [theme music playing] 2 00:01:05,760 --> 00:01:08,360 [theme music continues] 3 00:01:30,880 --> 00:01:33,320 [theme music fading] 4 00:01:36,200 --> 00:01:38,000 - Hello. Sharks. - Greetings. 5 00:01:38,280 --> 00:01:41,160 I am here to tell you a tale. 6 00:01:42,120 --> 00:01:45,560 - This tale is 2000 years old. - Wow! 7 00:01:45,640 --> 00:01:48,520 It's the story of Paithani sarees. 8 00:01:49,560 --> 00:01:51,240 The queen of silks, 9 00:01:51,480 --> 00:01:54,240 the heritage of India and the pride of Maharashtra. 10 00:01:54,320 --> 00:01:57,440 This is an emotion that a mother gifts to her daughter 11 00:01:58,360 --> 00:02:00,480 and a mother-in-law gifts to her daughter-in-law. 12 00:02:00,960 --> 00:02:04,360 It has been the pride of kings who emerged triumphant in battles. 13 00:02:04,520 --> 00:02:05,800 [sentimental music playing] 14 00:02:05,880 --> 00:02:09,000 - You must have heard of Kanjeevaram weaves. - Absolutely. 15 00:02:09,080 --> 00:02:11,440 You must also have heard of Banarasi weaves. 16 00:02:11,760 --> 00:02:13,680 But even today, a lot of people 17 00:02:13,760 --> 00:02:15,840 remain oblivious to the Paithani weaves. 18 00:02:15,920 --> 00:02:17,120 [sentimental music playing] 19 00:02:17,600 --> 00:02:21,520 These heritage weaves are a part of our tradition. 20 00:02:21,640 --> 00:02:23,240 And to take that legacy forward, 21 00:02:27,120 --> 00:02:28,680 [sentimental music playing] 22 00:02:28,800 --> 00:02:32,880 The saree market in India is valued at Rs. 38,000 crores. 23 00:02:33,120 --> 00:02:36,720 - It is scattered and unorganised to this day. - Hmm. 24 00:02:37,160 --> 00:02:40,800 Even today, in the e-commerce domain especially, 25 00:02:40,920 --> 00:02:44,720 there is no brand that is reviving heritage sarees 26 00:02:44,800 --> 00:02:46,240 - and selling them. - Hmm. 27 00:02:46,400 --> 00:02:49,520 We basically identified this gap 28 00:02:49,640 --> 00:02:52,000 and we came up with the brand Very Much Indian. 29 00:02:52,080 --> 00:02:53,960 [intense music playing] 30 00:02:55,040 --> 00:02:57,120 Very Much Indian, as the name says, 31 00:03:04,400 --> 00:03:05,920 [intense music playing] 32 00:03:06,040 --> 00:03:08,240 Over time, along with Paithani sarees, 33 00:03:08,320 --> 00:03:10,400 we have also revived many other weaves. 34 00:03:10,560 --> 00:03:13,800 For instance, the Patteda Anchu, Ilkal and handlooms 35 00:03:13,920 --> 00:03:17,440 not limited to Khadi, Tusser and others. 36 00:03:17,840 --> 00:03:21,480 So, our vision is to make this brand 37 00:03:21,960 --> 00:03:25,480 the most trusted traditional brand of India. 38 00:03:26,120 --> 00:03:28,200 We ask of you 39 00:03:28,440 --> 00:03:31,200 Rs. 50 lakh for 3% equity. 40 00:03:31,400 --> 00:03:33,640 [intense music playing] 41 00:03:40,560 --> 00:03:42,560 - Do you speak Marathi? - Yes. 42 00:03:42,640 --> 00:03:44,560 - I'm proud to be from Maharashtra. - Yes. 43 00:03:44,640 --> 00:03:46,560 - And a very proud Punekar. - Yes. 44 00:03:46,640 --> 00:03:50,320 - Let me tell you in Marathi. You look very pretty! - Thank you. 45 00:03:50,400 --> 00:03:53,680 This venture is one of great significance 46 00:03:53,800 --> 00:03:54,960 for our country. 47 00:03:55,400 --> 00:03:57,200 - So, thank you. - Thank you so much. 48 00:03:57,320 --> 00:03:59,200 Tell me your story. 49 00:03:59,280 --> 00:04:02,240 Why did you choose this venture? 50 00:04:02,320 --> 00:04:03,760 I hail from Yeola 51 00:04:03,960 --> 00:04:05,960 which is home to 4000 to 5000 weavers 52 00:04:06,040 --> 00:04:08,200 - who only make Paithani sarees. - Hmm. 53 00:04:18,960 --> 00:04:20,000 - [chuckling] - So... 54 00:04:20,080 --> 00:04:23,360 I did a job for 12 years after I did my Engineering and MBA. 55 00:04:23,440 --> 00:04:25,280 Then all of a sudden, 56 00:04:25,360 --> 00:04:28,400 I came out of my comfort zone and made a strong decision 57 00:04:28,480 --> 00:04:29,680 of doing this. 58 00:04:29,800 --> 00:04:31,160 Quickly. Where did you work? 59 00:04:31,240 --> 00:04:33,320 My last company was MWH. 60 00:04:33,400 --> 00:04:36,360 - I worked there in Communications and Marketing. - I see. 61 00:04:41,280 --> 00:04:43,200 - So, I'll answer this now. - Yes, please. 62 00:04:43,560 --> 00:04:45,040 We met in 2003. 63 00:04:45,120 --> 00:04:47,280 We did the MBA IB course together. 64 00:04:47,360 --> 00:04:50,320 - Okay. - We both wanted to do something in import and export. 65 00:04:50,440 --> 00:04:54,040 That's where we met and in 2008, we got married. 66 00:04:54,160 --> 00:04:56,160 - We have a teenage boy now. - Yes. 67 00:04:56,240 --> 00:04:57,480 - Wow! How old? - 13 years. 68 00:04:57,920 --> 00:04:59,240 - 13 years, sir. - Great. 69 00:04:59,440 --> 00:05:02,800 My major role is moral support and financial support. 70 00:05:02,880 --> 00:05:03,840 [laughter] 71 00:05:04,000 --> 00:05:05,840 - Both are important. - Yes. 72 00:05:05,960 --> 00:05:08,160 I am a banker. A Cluster Head. 73 00:05:08,280 --> 00:05:10,360 10 to 12 branch managers report to me. 74 00:05:10,440 --> 00:05:11,760 As do the teams under them. 75 00:05:11,840 --> 00:05:13,760 Do you wish to move into this full time? 76 00:05:13,840 --> 00:05:15,000 I will answer that, sir. 77 00:05:15,080 --> 00:05:17,600 He will join me the day I can give him a salary. 78 00:05:17,720 --> 00:05:19,400 - Wow! - Nice. 79 00:05:19,560 --> 00:05:21,080 - Well said. - Well said. 80 00:05:21,200 --> 00:05:23,280 - So, Slony. I have a question. - Yes. 81 00:05:29,320 --> 00:05:31,720 - We'll practically show it to you. - Great. 82 00:05:31,800 --> 00:05:33,920 Slony, it's pronounced Paithani. 83 00:05:34,000 --> 00:05:36,040 Just let him know of the pronunciation. 84 00:05:36,120 --> 00:05:37,240 Paithani. 85 00:05:37,520 --> 00:05:40,560 - Paithani. - Peyush, it's from the epiglottis. 86 00:05:40,640 --> 00:05:42,600 [laughter] 87 00:05:42,880 --> 00:05:44,520 We're joined by a senior weaver, 88 00:05:44,600 --> 00:05:45,760 four generations of whose family 89 00:05:45,840 --> 00:05:48,640 - have been into weaving of Paithani sarees. - Wow! 90 00:05:48,720 --> 00:05:50,600 - Nice. - So, we are very proud to call 91 00:05:54,560 --> 00:05:55,920 [applause] 92 00:05:56,080 --> 00:05:57,440 Greetings, sir. 93 00:05:58,560 --> 00:06:00,000 Sharks, today, 94 00:06:00,160 --> 00:06:02,240 he will show us how to do handloom weaving. 95 00:06:02,320 --> 00:06:04,080 Peyush, this the answer to your question. 96 00:06:04,160 --> 00:06:07,080 I think I'll just have to invest in this to make my mom happy. 97 00:06:07,160 --> 00:06:08,440 I think so. 98 00:06:08,760 --> 00:06:10,920 [pleasant music playing] 99 00:06:12,840 --> 00:06:14,840 Wow! It's made by hand like... 100 00:06:15,000 --> 00:06:17,160 In Maharashtra, it's called 'devastra'. 101 00:06:17,960 --> 00:06:19,480 It's offered to God 102 00:06:19,560 --> 00:06:21,840 and then worn by the bride on her wedding day. 103 00:06:21,920 --> 00:06:23,520 It is considered extremely pious. 104 00:06:23,600 --> 00:06:26,680 And these pious clothes are made in our town of Yeola. 105 00:06:26,760 --> 00:06:28,360 It's a matter of great pride for us. 106 00:06:28,440 --> 00:06:31,200 [Marathi song playing] 107 00:06:41,600 --> 00:06:43,240 The weave requires a lot of effort. 108 00:06:43,440 --> 00:06:46,600 It takes a minimum of 5 to 7 days 109 00:06:46,720 --> 00:06:48,680 and can take up to 6 months to a year to complete. 110 00:06:49,520 --> 00:06:53,360 The new generation of weavers don't wish to adopt this art form. 111 00:06:53,440 --> 00:06:54,960 [handloom rattles] 112 00:06:55,560 --> 00:06:57,840 Just like you get a salary in a job, 113 00:06:57,920 --> 00:07:00,880 working here for 8 to 10 hours 114 00:07:00,960 --> 00:07:03,640 can give you the same benefits as that of a job. 115 00:07:03,760 --> 00:07:07,640 And this business can grow in different villages and cities. 116 00:07:09,320 --> 00:07:12,280 We started Very Much Indian with this thought in mind. 117 00:07:12,400 --> 00:07:16,040 On a monetary basis, we give the weavers 118 00:07:16,120 --> 00:07:19,960 the remuneration that they are entitled to. 119 00:07:21,880 --> 00:07:25,040 We started out with 25 weavers. 120 00:07:25,200 --> 00:07:30,080 Today, our weaver community stands at over 400 weavers. 121 00:07:30,160 --> 00:07:34,480 [Marathi song playing] 122 00:07:49,120 --> 00:07:53,000 because 100 hours of weaving... 123 00:07:54,200 --> 00:07:56,360 What's the longest it can go up to? 124 00:07:56,440 --> 00:07:59,280 We are currently weaving a saree for one of our clients. 125 00:07:59,360 --> 00:08:01,640 The cost stands at Rs. 1.88 lakh. 126 00:08:01,760 --> 00:08:03,680 The saree costs Rs. 1.80 lakh! 127 00:08:03,960 --> 00:08:04,920 My God! 128 00:08:05,040 --> 00:08:06,280 How long will it take to weave? 129 00:08:06,400 --> 00:08:08,600 - Two and a half months. - Wow! 130 00:08:08,720 --> 00:08:10,600 - Good heavens! - [chuckling] 131 00:08:10,760 --> 00:08:11,760 Respect! 132 00:08:11,840 --> 00:08:14,840 Wow! That's just... amazing! 133 00:08:15,440 --> 00:08:17,240 Can this be made in a powerloom? 134 00:08:17,320 --> 00:08:18,760 Not this one, sir. 135 00:08:18,880 --> 00:08:20,720 Even if it is made in a powerloom, 136 00:08:20,880 --> 00:08:22,680 it would not be having pure threads. 137 00:08:22,800 --> 00:08:25,080 You'll have to mix threads with it. 138 00:08:25,160 --> 00:08:28,440 In the Surat market, all the sarees are made using machines. 139 00:08:28,520 --> 00:08:30,480 But they manufacture a lot of duplicate Paithanis. 140 00:08:30,560 --> 00:08:32,800 Banaras, too, manufactures duplicate Paithanis. 141 00:08:32,960 --> 00:08:34,120 - Yes... - But originality... 142 00:08:39,840 --> 00:08:42,680 - Let me tell you how to identify it. - Please do. 143 00:08:43,040 --> 00:08:46,480 The loose end or 'pallu' of this saree is made on handloom. 144 00:08:46,560 --> 00:08:49,560 You will not see a single thread on the back side. 145 00:08:49,640 --> 00:08:50,760 Not even a single thread. 146 00:08:50,840 --> 00:08:54,000 The front of the 'pallu' and the back of the 'pallu' 147 00:08:55,000 --> 00:08:56,960 - is exactly the same. - Wow! 148 00:08:57,360 --> 00:09:00,120 This is the first time I have witnessed how a saree is made. 149 00:09:00,200 --> 00:09:02,960 I have learned so much about sarees today. 150 00:09:03,080 --> 00:09:05,160 Buy this for Priya today. 151 00:09:05,280 --> 00:09:06,720 Yes, I'll buy the company! 152 00:09:06,800 --> 00:09:08,400 [laughter] 153 00:09:09,880 --> 00:09:13,560 We have Paithani sarees 154 00:09:13,720 --> 00:09:16,080 and then we have the Kanjeevaram sarees. 155 00:09:16,160 --> 00:09:18,720 Hows does the process differ for both? 156 00:09:18,800 --> 00:09:20,600 Paithani comes with a lot of peacock motifs. 157 00:09:20,680 --> 00:09:23,040 - You won't see that in Kanjeevaram. - Okay. 158 00:09:23,120 --> 00:09:24,880 - The patterns are different. - Yes, they're different. 159 00:09:24,960 --> 00:09:28,160 - Yes. - Slony, as far as I know, the weft differs as well. 160 00:09:28,240 --> 00:09:30,600 The way you interlace the threads 161 00:09:30,760 --> 00:09:32,840 and what its concentration should be... 162 00:09:32,920 --> 00:09:34,640 - Different handlooms... - Yes. 163 00:09:34,800 --> 00:09:36,320 That, too, is different, right? 164 00:09:36,400 --> 00:09:37,800 You know about this as well! 165 00:09:37,880 --> 00:09:39,680 - [laughter] - He... 166 00:09:40,080 --> 00:09:41,720 - You... - Hey, say it! 167 00:09:41,800 --> 00:09:43,760 "You're no ordinary man, you are great!" 168 00:09:44,640 --> 00:09:47,120 I will train under you. [laughs] 169 00:09:47,360 --> 00:09:48,960 Looking at this loom 170 00:09:49,320 --> 00:09:51,080 got me all emotional today. 171 00:09:51,560 --> 00:09:54,960 I recollected that many years ago, my father... 172 00:09:55,040 --> 00:09:56,560 He, too, has spent 60 years 173 00:09:56,680 --> 00:09:58,640 in the textile business just like your family. 174 00:09:58,880 --> 00:10:02,680 - Yes. - He used to make fabric on handloom in Bhiwandi. 175 00:10:02,880 --> 00:10:05,160 I was very little, I didn't understand much. 176 00:10:05,520 --> 00:10:07,400 But I recollected the moments 177 00:10:07,480 --> 00:10:10,120 - where I used to hold his hand and observe the looms. - Yes. 178 00:10:10,200 --> 00:10:11,800 When I stood there, 179 00:10:12,520 --> 00:10:15,280 I had this sort of epiphany, 180 00:10:15,440 --> 00:10:18,080 and I resolved to become an entrepreneur in that moment. 181 00:10:18,520 --> 00:10:20,520 - Oh! That's sweet. - You reminded me of that moment. 182 00:10:20,600 --> 00:10:21,960 That's so beautiful... 183 00:10:22,080 --> 00:10:24,560 - That's how I know about this. - Yes. 184 00:10:24,680 --> 00:10:26,440 I have grown up... 185 00:10:26,680 --> 00:10:28,280 Around looms and threads. 186 00:10:29,960 --> 00:10:31,360 Let me tell you my story, sir, 187 00:10:31,440 --> 00:10:33,760 - since you told me about yours. - Sure. 188 00:10:33,880 --> 00:10:37,600 My grandfather, at the time of India and Pakistan's Partition, 189 00:10:38,320 --> 00:10:42,200 in search of a job went to Yeola somehow, 190 00:10:42,280 --> 00:10:43,560 because he had nothing. 191 00:10:44,520 --> 00:10:47,280 And then he started this actually. 192 00:10:47,360 --> 00:10:50,040 I'm a little emotional with my... I was very connected. 193 00:10:51,200 --> 00:10:53,200 So, he pioneered this, sir. 194 00:10:53,440 --> 00:10:55,560 [sentimental music playing] 195 00:10:55,800 --> 00:10:58,880 - You quit your marketing job. - Yes. 196 00:10:58,960 --> 00:11:01,280 What motivated you 197 00:11:01,560 --> 00:11:03,560 to bring that legacy back? 198 00:11:03,640 --> 00:11:05,040 Sir, I had to do it. 199 00:11:05,600 --> 00:11:07,800 [sentimental music playing] 200 00:11:08,160 --> 00:11:09,720 I held many exhibitions in the beginning. 201 00:11:09,800 --> 00:11:12,160 I went to the homes of people to sell sarees 202 00:11:12,360 --> 00:11:13,840 because I wanted to do this. 203 00:11:13,920 --> 00:11:15,960 [sentimental music playing] 204 00:11:16,400 --> 00:11:17,440 People used to pass comments. 205 00:11:17,520 --> 00:11:21,360 "This woman goes door-to-door to sell sarees!" 206 00:11:24,400 --> 00:11:27,480 [sentimental music playing] 207 00:11:28,480 --> 00:11:30,000 We didn't buy a house until today 208 00:11:31,040 --> 00:11:33,840 because we invested all our money in the business. 209 00:11:33,920 --> 00:11:35,720 [sobbing] 210 00:11:41,760 --> 00:11:45,600 Every woman gives credit to others for her hard work. 211 00:11:45,880 --> 00:11:47,680 I will take the credit myself. 212 00:11:48,720 --> 00:11:51,800 Then give it to the people who supported me. 213 00:11:51,960 --> 00:11:54,040 [sentimental music playing] 214 00:11:58,840 --> 00:12:01,440 Slony, you're doing a great job. 215 00:12:02,360 --> 00:12:04,440 I believe you're a true entrepreneur. 216 00:12:04,960 --> 00:12:07,480 I also believe that your struggles 217 00:12:08,000 --> 00:12:10,440 shall certainly pay off in the end. 218 00:12:10,800 --> 00:12:12,760 [sentimental music playing] 219 00:12:13,720 --> 00:12:16,720 I have a surprise for both the ladies, Namita and Vineeta. 220 00:12:16,800 --> 00:12:18,040 [upbeat music playing] 221 00:12:18,120 --> 00:12:20,360 Can we have... We have a saree draper? 222 00:12:23,720 --> 00:12:27,880 The brocade and the 'jhumkas' will go perfectly with my outfit. 223 00:12:28,080 --> 00:12:29,960 I will become her investor. 224 00:12:30,160 --> 00:12:32,680 I will bag this deal! 225 00:12:32,920 --> 00:12:34,520 It's the first time on Shark Tank 226 00:12:34,600 --> 00:12:36,840 that we haven't discussed numbers or the business, 227 00:12:36,920 --> 00:12:38,160 and you have yourselves a deal! 228 00:12:38,240 --> 00:12:39,040 [chuckling] 229 00:12:39,160 --> 00:12:41,640 Slony, I saw a nose ring over there. 230 00:12:41,720 --> 00:12:43,240 Will she get that too? 231 00:12:43,320 --> 00:12:46,160 My wife will kill me if I don't get her anything! 232 00:12:47,520 --> 00:12:50,080 [pleasant music playing] 233 00:12:53,040 --> 00:12:54,360 Vineeta, wow! 234 00:12:54,760 --> 00:12:56,320 You guys are looking very pretty. 235 00:12:56,400 --> 00:12:59,520 - Okay. Now, let us do a ramp walk, girl. - Let's do it! 236 00:12:59,680 --> 00:13:00,520 Lovely! 237 00:13:05,080 --> 00:13:07,640 We are so thrilled and we are so glad 238 00:13:08,080 --> 00:13:11,040 that you both are donning our sarees! 239 00:13:11,120 --> 00:13:12,480 If you wish to give me a gift, 240 00:13:12,560 --> 00:13:14,320 then let it be the saree costing Rs. 1.80 lakh. 241 00:13:14,400 --> 00:13:16,240 [laughter] 242 00:13:16,840 --> 00:13:18,400 - Come on! - Sir, I will if you give me a cheque! 243 00:13:18,480 --> 00:13:19,640 [laughter] 244 00:13:19,920 --> 00:13:22,120 Slony, your products are great. 245 00:13:22,200 --> 00:13:24,160 - Let's get to the business now. - Absolutely. 246 00:13:24,280 --> 00:13:27,440 What are your numbers? What does the growth look like? 247 00:13:27,600 --> 00:13:31,080 The sale in the first year was approximately 16 to 17 lakh. 248 00:13:31,160 --> 00:13:32,320 Which year was it? 249 00:13:32,440 --> 00:13:34,080 - This was three years back. - I see. 250 00:13:34,160 --> 00:13:35,560 Was it 2018? 251 00:13:35,640 --> 00:13:38,640 For two years, our sales was around 15 to 20 lakh. 252 00:13:38,720 --> 00:13:41,720 After that, during the time of COVID, 253 00:13:41,880 --> 00:13:43,840 our sales saw a boost. 254 00:13:43,920 --> 00:13:45,320 - In 2020-21. - Yes. 255 00:13:45,400 --> 00:13:47,720 - We did a business of Rs. 65 lakhs.. - Wow! 256 00:13:49,040 --> 00:13:50,560 And Rs. 1.5 crore... 257 00:13:50,640 --> 00:13:51,720 - Last year. - 2021-22. 258 00:13:51,840 --> 00:13:53,840 That was the turnover we closed at in 2021-22. 259 00:13:53,920 --> 00:13:55,280 Current year's projection? 260 00:13:57,360 --> 00:13:58,640 Average ticket size? 261 00:13:58,760 --> 00:13:59,800 Rs. 10,000. 262 00:13:59,960 --> 00:14:00,800 Wow! 263 00:14:01,600 --> 00:14:02,520 What's the margin? 264 00:14:06,480 --> 00:14:07,320 It's very low. 265 00:14:07,400 --> 00:14:09,760 It's a very labour-intensive business. 266 00:14:09,840 --> 00:14:10,960 That needs investment. 267 00:14:11,040 --> 00:14:13,280 But there aren't many expenses once the gross margin is covered. 268 00:14:13,360 --> 00:14:15,000 I think you save 10 to 15%. 269 00:14:15,080 --> 00:14:16,280 - Yes, sir. Easily. - Yes. 270 00:14:17,960 --> 00:14:20,280 Slony, I wish to make you an offer. 271 00:14:20,800 --> 00:14:21,640 Yes. 272 00:14:22,680 --> 00:14:25,480 I would like to offer you Rs. 50 lakh, 273 00:14:25,560 --> 00:14:28,640 but I think 3% is not a good valuation 274 00:14:28,720 --> 00:14:30,760 because your sale is only Rs. 2 crore. 275 00:14:31,240 --> 00:14:32,120 - Right? - Right. 276 00:14:54,240 --> 00:14:57,440 - To scale up any further, we'll need to buy stock. - Okay. 277 00:14:57,520 --> 00:14:59,360 - So you want money from here. - In today's date, Very Much Indian 278 00:14:59,440 --> 00:15:00,560 has the complete set-up. 279 00:15:00,880 --> 00:15:04,360 She currently sells 100 sarees on an average in a month. 280 00:15:04,560 --> 00:15:07,320 She can easily sell 1000 sarees. 281 00:15:07,480 --> 00:15:09,120 - In that... - Sales will go up to Rs. 1 crore. 282 00:15:09,200 --> 00:15:10,400 Yes, in a month. 283 00:15:10,720 --> 00:15:13,280 Let me tell you the biggest challenge we face. 284 00:15:13,360 --> 00:15:14,800 Buying such an expensive saree 285 00:15:14,960 --> 00:15:18,520 - online from a new brand is difficult for anyone. - Right. 286 00:15:18,600 --> 00:15:19,760 So, this... 287 00:15:19,880 --> 00:15:21,080 - Building trust. - We need to... 288 00:15:21,160 --> 00:15:22,440 Trust is our challenge. 289 00:15:22,520 --> 00:15:25,040 - If you get associated with us... - Yes. 290 00:15:25,240 --> 00:15:27,000 - Correct. - That'll automatically build trust. 291 00:15:27,080 --> 00:15:29,360 - And even better if I get associated! - Yes. 292 00:15:29,480 --> 00:15:31,080 - Oh, my! - [Slony chuckling] 293 00:15:32,920 --> 00:15:34,520 I'd like to pass. 294 00:15:35,800 --> 00:15:37,520 Maybe if you didn't have this offer.. 295 00:15:37,840 --> 00:15:40,360 You know, because you're such an amazing entrepreneur... 296 00:15:40,480 --> 00:15:42,800 - Yes, sir. - And I think everything is checking my list, 297 00:15:43,040 --> 00:15:46,160 - but Namita has made a good offer. - Woman entrepreneur! 298 00:15:46,360 --> 00:15:47,840 - Thank you. - So, I'm out. 299 00:15:48,080 --> 00:15:49,840 [intense music playing] 300 00:15:50,000 --> 00:15:51,880 I think, to make this really big, 301 00:15:51,960 --> 00:15:55,840 you somehow have to take your passion and knowledge, 302 00:15:55,920 --> 00:15:58,400 the handloom process 303 00:15:58,480 --> 00:16:00,000 and the effort that goes into weaving, 304 00:16:00,080 --> 00:16:02,560 and convert the entire communication 305 00:16:02,680 --> 00:16:05,720 to content and social media. 306 00:16:05,800 --> 00:16:08,920 I believe Namita is a great partner for it. 307 00:16:09,000 --> 00:16:10,560 - Thank you. - Her offer is good too. 308 00:16:10,640 --> 00:16:13,280 So, I won't be able to partner with you on this. 309 00:16:13,480 --> 00:16:16,120 But I really hope that Very Much Indian becomes 310 00:16:16,200 --> 00:16:20,560 - India's first digital saree brand that goes global. - Thank you... 311 00:16:20,720 --> 00:16:22,000 - Thank you. - Thank you so much. 312 00:16:22,520 --> 00:16:25,800 Looking at Millenniala and Gen Z, 313 00:16:25,880 --> 00:16:29,160 for instance my nieces, they don't go all that in depth. 314 00:16:30,600 --> 00:16:34,160 So, not only must you market your own products, 315 00:16:34,240 --> 00:16:36,400 but also market the category. 316 00:16:36,720 --> 00:16:39,760 And because I do not have as much interest... 317 00:16:39,960 --> 00:16:41,360 - Okay, alright. - In the industry. 318 00:16:41,440 --> 00:16:42,320 - Correct, sir. - Yes? 319 00:16:42,600 --> 00:16:45,920 - Yes, sir. - So, I'd like to pass because of that reason. 320 00:16:46,040 --> 00:16:47,880 - All the best. - Thank you. 321 00:16:48,480 --> 00:16:51,880 I request Namita if she's okay with partnering up with me. 322 00:16:51,960 --> 00:16:53,560 I wanted to go solo. 323 00:16:55,400 --> 00:16:57,920 She's too much! But I'm also Very Much Indian! 324 00:16:58,000 --> 00:16:59,680 [laughter] 325 00:17:00,000 --> 00:17:01,520 - You know what happened earlier? - Pitch to me. 326 00:17:01,600 --> 00:17:02,880 - Why should I take you? - Till now, 327 00:17:02,960 --> 00:17:04,480 businesses pitched to her on Shark Tank. 328 00:17:04,560 --> 00:17:05,800 Now, I am pitching to her! 329 00:17:05,880 --> 00:17:07,600 - [laughter] - Come on, convince me. 330 00:17:08,040 --> 00:17:10,000 I'll help you understand Gen Z's mindset. 331 00:17:10,080 --> 00:17:12,560 - Okay. - I'll try Amazon and Flipkart. 332 00:17:12,680 --> 00:17:14,120 I'll help build the brand. 333 00:17:14,400 --> 00:17:16,720 And I will do many things for you. 334 00:17:16,800 --> 00:17:18,280 [laughter] 335 00:17:19,040 --> 00:17:23,600 We've been labelled 'Karan-Arjun' in the last season. 336 00:17:31,480 --> 00:17:34,240 - Alright. - Sharks, we wish to make a counter-offer. 337 00:17:34,320 --> 00:17:36,520 - Sure. - [intense music playing] 338 00:17:36,920 --> 00:17:39,080 Rs. 75 lakhs for 10% equity 339 00:17:48,880 --> 00:17:51,040 - with additional funds. - We could scale up faster. 340 00:17:51,120 --> 00:17:54,280 There are way too many challenges. 341 00:17:54,440 --> 00:17:55,640 - That's why... - I agree. 342 00:18:04,560 --> 00:18:07,240 [tense music playing] 343 00:18:08,440 --> 00:18:09,560 - What do you say? - Okay. 344 00:18:09,880 --> 00:18:10,680 - Huh? - Okay. 345 00:18:18,160 --> 00:18:20,320 - Congratulations. - Thank you, sir. 346 00:18:20,920 --> 00:18:22,440 For Namita. For India. 347 00:18:22,520 --> 00:18:25,080 [euphoric music playing] 348 00:18:44,440 --> 00:18:47,440 [theme music playing] 349 00:18:55,080 --> 00:18:56,920 Hi, Sharks. I am Divyajeet. 350 00:19:00,520 --> 00:19:03,360 My parents are always under a lot of stress 351 00:19:03,520 --> 00:19:06,520 - whether I reached school or not or got safely to my classes. - Hmm. 352 00:19:06,600 --> 00:19:08,800 Or whether I ran off with my friends to munch on 'pani puri'. 353 00:19:08,880 --> 00:19:10,320 [laughter] 354 00:19:10,520 --> 00:19:12,040 They don't buy me a phone 355 00:19:12,120 --> 00:19:14,960 out of fear that I might misplace it 356 00:19:15,040 --> 00:19:16,440 - or get addicted to it. - Hmm. 357 00:19:17,560 --> 00:19:19,880 Just like my parents, thousands of other parents 358 00:19:20,000 --> 00:19:21,640 face the same issue. 359 00:19:23,160 --> 00:19:24,920 Here to resolve this issue 360 00:19:25,040 --> 00:19:28,480 is a cute but powerful smartwatch by Watchout Wearables. 361 00:19:29,280 --> 00:19:31,080 No! Don't be confused. 362 00:19:31,160 --> 00:19:34,200 I'm not the founder of this company. I'm just a user. 363 00:19:34,320 --> 00:19:35,760 My uncle is the founder. 364 00:19:35,960 --> 00:19:37,800 [laughter] 365 00:19:38,160 --> 00:19:39,760 You spoke so confidently. 366 00:19:40,840 --> 00:19:43,760 [music playing] 367 00:19:51,840 --> 00:19:54,920 Watchout Wearables manufactures smartwatches for kids 368 00:19:55,200 --> 00:19:58,000 which is built on three fundamentals. 369 00:19:58,080 --> 00:20:01,200 Safety, connectivity and curiosity. 370 00:20:01,840 --> 00:20:04,400 Safety as it has a GPS tracker 371 00:20:04,480 --> 00:20:06,840 by way of which you can track your child's location. 372 00:20:07,560 --> 00:20:10,240 The second inbuilt important feature is connectivity. 373 00:20:10,360 --> 00:20:12,440 You and your children can both 374 00:20:12,880 --> 00:20:14,080 stay connected by way 375 00:20:19,200 --> 00:20:20,240 And the third 376 00:20:20,400 --> 00:20:22,640 and the latest feature which we came up with 377 00:20:22,720 --> 00:20:23,760 is curiosity. 378 00:20:29,120 --> 00:20:32,360 children can scan objects to learn their meaning and definition. 379 00:20:32,440 --> 00:20:33,320 Wow! 380 00:20:33,600 --> 00:20:36,720 Sharks, I'm sure you must be wondering. 381 00:20:36,800 --> 00:20:38,640 "There are so many watches in the market." 382 00:20:38,720 --> 00:20:40,360 "How is this watch any different?" 383 00:20:40,440 --> 00:20:41,600 Absolutely, Divyajeet. 384 00:20:41,680 --> 00:20:43,480 Our watches have a slot for a SIM card. 385 00:20:43,560 --> 00:20:44,960 The other watches do not. 386 00:20:50,800 --> 00:20:53,720 Sharks, we launched this product in the beginning of last year. 387 00:20:53,920 --> 00:20:56,240 And more than 3000 parents 388 00:20:56,320 --> 00:20:58,520 and their children are using our product. 389 00:20:59,200 --> 00:21:01,800 Our vision is to offer children such a device 390 00:21:01,880 --> 00:21:04,600 that not only keeps them smart but safe as well. 391 00:21:14,280 --> 00:21:17,320 we'd like to give you a demo of one of our functions. 392 00:21:17,480 --> 00:21:18,480 - Yes. - Sure. 393 00:21:18,600 --> 00:21:20,200 [tense music playing] 394 00:21:20,360 --> 00:21:22,440 - You spoke very well. - Thank you. 395 00:21:24,400 --> 00:21:25,320 Thank you, buddy. 396 00:21:25,400 --> 00:21:27,960 Thank you, Divyajeet. Thanks. 397 00:21:28,480 --> 00:21:32,040 Sharks, this is our next gen kids smartwatch. 398 00:21:32,600 --> 00:21:35,720 Its straps are made of breathable, soft silicone 399 00:21:35,800 --> 00:21:39,160 so that kids can wear it comfortably. 400 00:21:39,280 --> 00:21:41,760 If you look at the top, you will see it has elevated edges. 401 00:21:41,880 --> 00:21:44,440 We're aware that kids might drop the watch often. 402 00:21:44,560 --> 00:21:46,520 So as to prevent a direct impact to the screen, 403 00:21:46,600 --> 00:21:48,400 we have given the watch elevated edges. 404 00:21:49,160 --> 00:21:51,720 This is a 0.5 megapixel camera. 405 00:21:51,960 --> 00:21:53,920 Kids can take selfies with it 406 00:21:54,000 --> 00:21:56,240 as well as use it to make video as well as audio calls. 407 00:21:56,360 --> 00:21:59,240 - Nice. - As you can see, between the two buttons is the SIM slot. 408 00:21:59,320 --> 00:22:02,080 You can insert your nano SIM into it. 409 00:22:02,200 --> 00:22:04,840 The button you see on the side is a SOS button. 410 00:22:05,120 --> 00:22:08,960 If the child presses and holds the button for three seconds, 411 00:22:09,120 --> 00:22:11,280 then the parents will get a notification. 412 00:22:11,440 --> 00:22:14,200 Moreover, a 30-second surround sound recording 413 00:22:14,280 --> 00:22:15,560 will also be sent to them 414 00:22:15,720 --> 00:22:16,800 along with the last location. 415 00:22:16,880 --> 00:22:19,120 - So that parents can take action. - Nice. 416 00:22:19,400 --> 00:22:22,000 If you look at the back of the watch, 417 00:22:22,080 --> 00:22:23,640 you'll see an anti-take off sensor. 418 00:22:23,720 --> 00:22:25,920 If anyone takes the watch off the child's wrist, 419 00:22:26,040 --> 00:22:27,640 a notification will be sent to the parents that 420 00:22:27,720 --> 00:22:28,800 the watch has been removed. 421 00:22:28,920 --> 00:22:30,680 Even if the child takes it off himself? 422 00:22:30,760 --> 00:22:33,400 Yes. The parents will know even if their child takes it off. 423 00:22:33,960 --> 00:22:37,080 Ms. Singh, if you'd like to come here, 424 00:22:37,200 --> 00:22:40,120 then we would love to show you a live interface demo. 425 00:22:40,200 --> 00:22:41,080 Okay. 426 00:22:53,160 --> 00:22:55,360 I'll just press the video call icon. 427 00:22:56,520 --> 00:22:58,440 - Just press... - Ma'am, can you please pick it up? 428 00:22:59,280 --> 00:23:00,320 Hi, Baby Shark. 429 00:23:01,160 --> 00:23:02,120 'Hi, Baby Shark.' 430 00:23:02,200 --> 00:23:03,800 - Thank you. - It's working. 431 00:23:04,600 --> 00:23:07,520 There's one very interesting feature which is very important for parents. 432 00:23:07,680 --> 00:23:08,960 This, Class Mode. 433 00:23:09,080 --> 00:23:11,640 For example, if you think that your child will download games 434 00:23:11,800 --> 00:23:13,880 or feel he'll get too engrossed, 435 00:23:14,040 --> 00:23:16,120 then they can turn on Class Mode. 436 00:23:16,360 --> 00:23:19,040 - They feel the child is... - I got it. 437 00:23:19,120 --> 00:23:21,520 - He's too engrossed in the watch... - To study... Got it. 438 00:23:22,400 --> 00:23:23,640 It's very nice. 439 00:23:24,920 --> 00:23:27,440 Abhisek, Divyajeet, welcome to Shark Tank. 440 00:23:27,520 --> 00:23:28,360 - Thank you, sir. - Thank you, sir. 441 00:23:28,440 --> 00:23:30,400 So, if Divyajeet wants to go, it's okay. 442 00:23:30,480 --> 00:23:31,720 You can be here. 443 00:23:32,000 --> 00:23:33,160 - Yes, Divyajeet. - Yes? 444 00:23:33,600 --> 00:23:35,280 - Thank you, Divyajeet. - Thank you. 445 00:23:35,600 --> 00:23:36,560 Abhisek, tell me. 446 00:23:36,640 --> 00:23:39,840 When you were starting a business, how did this need arise for you? 447 00:23:39,920 --> 00:23:43,480 The need dates back to the year 2008 448 00:23:43,680 --> 00:23:46,360 when our family encountered a tragic incident. 449 00:23:46,640 --> 00:23:48,320 In our house in Mumbai, 450 00:23:48,440 --> 00:23:50,360 a fire broke out on account of a short circuit. 451 00:23:50,640 --> 00:23:52,200 At the time, inside the house were Divyajeet, 452 00:23:52,280 --> 00:23:55,920 his older sister, his grandfather and his mother. 453 00:23:56,200 --> 00:23:59,360 But only Divyajeet and his mother survived the misfortune. 454 00:24:00,200 --> 00:24:02,240 - Oh my God! - Oh my God! 455 00:24:02,920 --> 00:24:05,760 [sombre music playing] 456 00:24:08,720 --> 00:24:10,320 The investigation revealed 457 00:24:10,400 --> 00:24:13,520 that smoke was the cause of death. 458 00:24:14,200 --> 00:24:16,600 [sad music playing] 459 00:24:20,280 --> 00:24:22,440 This had me quite shaken. 460 00:24:22,520 --> 00:24:25,520 That the poor soul must have cried for help for so long. 461 00:24:25,600 --> 00:24:28,040 Or at least must have tried to reach out to the world. 462 00:24:28,120 --> 00:24:29,640 For at least 30 to 45 minutes! 463 00:24:29,840 --> 00:24:33,240 Um, but since no one got to know, they couldn't reach out. 464 00:24:33,800 --> 00:24:35,920 [sombre music playing] 465 00:24:36,280 --> 00:24:38,840 So, for children to stay connected with their parents 466 00:24:38,920 --> 00:24:40,200 is extremely important. 467 00:24:40,360 --> 00:24:42,960 Our family went through an extreme situation. 468 00:24:43,080 --> 00:24:45,880 But nowadays, parents are a little paranoid 469 00:24:46,000 --> 00:24:48,240 with regard to their children's safety and connectivity. 470 00:24:48,320 --> 00:24:51,560 So, I thought there ought to be gadgets for children too. 471 00:24:54,720 --> 00:24:56,080 Sorry for your loss. 472 00:24:56,200 --> 00:25:00,200 This mishap reminded me of something. 473 00:25:00,400 --> 00:25:02,080 Why only for children? 474 00:25:02,320 --> 00:25:03,680 Why not for... 475 00:25:04,880 --> 00:25:05,800 Very old people? 476 00:25:05,880 --> 00:25:08,000 It happened to my maternal grandmother two years ago. 477 00:25:08,600 --> 00:25:10,960 - She perished in a fire. - Oh! 478 00:25:11,360 --> 00:25:13,920 [melancholy music playing] 479 00:25:14,440 --> 00:25:16,360 And the thought occurred to me many times. 480 00:25:16,440 --> 00:25:18,400 I spent quite some time with her at the hospital. 481 00:25:18,720 --> 00:25:20,360 She must have cried for help for so long. 482 00:25:20,760 --> 00:25:23,320 [sombre music playing] 483 00:25:25,120 --> 00:25:27,480 And it breaks my heart every time I think about it. 484 00:25:28,400 --> 00:25:31,360 [heartwrenching music playing] 485 00:25:33,560 --> 00:25:37,200 So, why not for old people as well? 486 00:25:38,680 --> 00:25:40,640 Your question is valid. 487 00:25:40,800 --> 00:25:43,920 And hence, as you'll see in the launch of our next product, 488 00:25:44,000 --> 00:25:46,240 we also have a senior citizen smartwatch. 489 00:25:46,360 --> 00:25:48,960 - But there's a slight difference in their safety feature. - True. 490 00:25:49,080 --> 00:25:50,400 - Like... - Falling. 491 00:25:50,520 --> 00:25:52,080 Falling is the most important. 492 00:25:52,160 --> 00:25:54,160 That is why we have an anti-fall alarm. 493 00:25:54,240 --> 00:25:56,320 The moment your parent suffers a fall, 494 00:25:56,480 --> 00:26:00,240 you'll get a notification instantly. 495 00:26:00,600 --> 00:26:02,640 That your father has slipped. 496 00:26:02,720 --> 00:26:03,800 Please reach out. 497 00:26:03,920 --> 00:26:05,720 And not just reach out, it can directly place a call. 498 00:26:05,800 --> 00:26:06,880 You have that option. 499 00:26:06,960 --> 00:26:08,480 - Wow! - Amazing. 500 00:26:08,680 --> 00:26:09,960 And for them, 501 00:26:10,080 --> 00:26:12,080 safety would just not mean steps and others. 502 00:26:12,200 --> 00:26:14,800 It would mean temperature, blood pressure, heart rate... 503 00:26:15,080 --> 00:26:16,480 Let me answer you. 504 00:26:16,560 --> 00:26:18,400 The watches being introduced in the wearables industry, 505 00:26:18,480 --> 00:26:20,280 even we're introducing wearable watches in the industry, 506 00:26:20,360 --> 00:26:21,720 they do have these features. 507 00:26:21,840 --> 00:26:24,680 But the kids watches segment has just started. 508 00:26:24,760 --> 00:26:26,360 [tense music playing] 509 00:26:26,640 --> 00:26:28,640 What's your age, Abhisek? 510 00:26:28,720 --> 00:26:29,920 I am 32 years. 511 00:26:30,000 --> 00:26:31,800 What were you doing before this? 512 00:26:32,240 --> 00:26:34,040 I'm a Chemical Engineer and gold medallist 513 00:26:34,720 --> 00:26:36,160 from Sardar Patel University. 514 00:26:36,240 --> 00:26:39,280 Then I did my MBA and worked with Essar Steel. 515 00:26:39,360 --> 00:26:42,280 I did MBA in Sales and Marketing from SCMHRD, Pune. 516 00:26:42,440 --> 00:26:44,440 And then I worked with Pidilite Industries as well. 517 00:26:44,600 --> 00:26:47,280 First, tell me whose design this is 518 00:26:47,360 --> 00:26:48,880 and what is your moat in it. 519 00:26:48,960 --> 00:26:52,280 Sir, the entire design is curated by us. 520 00:27:02,920 --> 00:27:04,120 What's its price? 521 00:27:04,280 --> 00:27:07,960 The selling price in the market currently is around Rs. 10,000. 522 00:27:08,240 --> 00:27:10,040 - Rs. 10,000? - Yes. 523 00:27:10,440 --> 00:27:12,320 - Wow! - Rs. 10,000! 524 00:27:12,560 --> 00:27:15,680 You get a normal smartwatch for Rs. 3000 nowadays. 525 00:27:15,760 --> 00:27:17,520 It boils down to technology. 526 00:27:17,600 --> 00:27:20,040 They use Bluetooth technology, sir, the Rs. 4000 one. 527 00:27:20,280 --> 00:27:23,040 If you give that watch to a seven-year-old, 528 00:27:23,120 --> 00:27:24,760 he will play with it and enjoy himself. 529 00:27:24,880 --> 00:27:27,520 - But where is the safety and connectivity? - Hmm. 530 00:27:27,800 --> 00:27:28,600 It's a good point. 531 00:27:28,680 --> 00:27:31,520 Won't they keep calling every five minutes and troubling you? 532 00:27:32,760 --> 00:27:34,560 Turn on the Class Mode! 533 00:27:35,040 --> 00:27:36,680 No, you don't need the Class Mode. 534 00:27:36,760 --> 00:27:38,720 It has a feature called 'Call Forbidden'. 535 00:27:38,840 --> 00:27:40,040 All you have to do is switch it on. 536 00:27:40,120 --> 00:27:41,960 The child can't call you, but you can call him. 537 00:27:42,080 --> 00:27:44,400 But what if after you activate Call Forbidden 538 00:27:44,520 --> 00:27:46,560 and the child wants to call you for safety reasons? 539 00:27:46,680 --> 00:27:48,320 He still has SOS at his disposal. 540 00:27:48,480 --> 00:27:49,520 Even in Class Mode, 541 00:27:49,680 --> 00:27:51,280 you will have one feature that will allow you 542 00:27:51,360 --> 00:27:53,280 - to send texts to your parents. - Oh! 543 00:27:53,400 --> 00:27:55,960 I admit this is a new category. 544 00:27:56,160 --> 00:27:58,000 So, there is no market size. 545 00:27:58,080 --> 00:28:00,000 But do you have a proxy 546 00:28:00,080 --> 00:28:02,440 to calculate the market size on the basis of which? 547 00:28:02,520 --> 00:28:05,600 Look, the category we're aiming at, 6 to 13 years age group, 548 00:28:05,760 --> 00:28:08,440 India's highest population segment falls under it. 549 00:28:08,560 --> 00:28:10,600 - 20%. - 20 crore people. 550 00:28:10,680 --> 00:28:11,880 Let us assume 551 00:28:11,960 --> 00:28:14,680 they are urban kids for the time being. 552 00:28:14,960 --> 00:28:17,240 Let's suppose 30% are urban. 553 00:28:17,520 --> 00:28:20,600 Out of that, let's suppose 3% are wealthy. 554 00:28:20,800 --> 00:28:23,080 And because my product is there at this moment, 555 00:28:23,200 --> 00:28:25,280 the 3% wealthy people will take this. 556 00:28:25,400 --> 00:28:26,400 - Okay? - 18 lakh people. 557 00:28:26,480 --> 00:28:28,880 Out of that, maybe 20%... 558 00:28:29,000 --> 00:28:31,800 You'll take your... Not everyone will buy your watch. 559 00:28:31,880 --> 00:28:34,160 - You can take 20%. - Let's take 20%. 560 00:28:34,400 --> 00:28:36,240 - That's 3.6 lakh. - Yes. 561 00:28:36,400 --> 00:28:40,400 If you consider the average price as low as Rs. 6000 or something... 562 00:28:40,480 --> 00:28:41,440 Rs. 5000. 563 00:28:41,520 --> 00:28:43,600 [intense music playing] 564 00:28:43,760 --> 00:28:45,160 Okay, Rs. 5000. 565 00:28:45,240 --> 00:28:47,320 Even then there's a significant market 566 00:28:47,400 --> 00:28:50,120 which turns around to be somewhere between 100 crore. 567 00:28:50,280 --> 00:28:51,440 That's a small market. 568 00:28:51,560 --> 00:28:53,920 [intense music playing] 569 00:28:54,160 --> 00:28:56,000 In a market of 100 to 150 crore people, 570 00:28:56,080 --> 00:28:58,560 your company will barely have a turnover of Rs. 10 or 20 crore. 571 00:28:58,680 --> 00:29:02,040 So, on a valuation of Rs. 40 crore... 572 00:29:02,160 --> 00:29:03,480 - Yes. - You're raising funds now. 573 00:29:03,600 --> 00:29:06,400 How does an investor get an exit? 574 00:29:06,480 --> 00:29:08,600 [intense music playing] 575 00:29:10,560 --> 00:29:12,480 The current valuation is based on our sales. 576 00:29:12,560 --> 00:29:14,480 For example, our last data. 577 00:29:14,560 --> 00:29:17,480 We started in Jan last year and we did Rs. 1.1 crore. 578 00:29:17,560 --> 00:29:20,280 And we've made Rs. 1.4 crore... 579 00:29:20,440 --> 00:29:22,320 - Oh, okay. - In the last financial year. 580 00:29:22,440 --> 00:29:23,520 What was last month's figure? 581 00:29:23,600 --> 00:29:24,880 Rs. 25 lakhs. 582 00:29:24,960 --> 00:29:26,480 And before that? 583 00:29:26,560 --> 00:29:30,000 Before that, it was Rs. 5 lakhs because we had changed the model. 584 00:29:30,080 --> 00:29:31,280 What was the profit in August? 585 00:29:31,360 --> 00:29:33,560 EBITDA, if you would ask, it would be 35%. 586 00:29:33,680 --> 00:29:34,600 That was EBITDA? 587 00:29:34,680 --> 00:29:37,600 Yes. And net margin was around 25%. 588 00:29:37,680 --> 00:29:38,840 What's the current month's sales? 589 00:29:38,920 --> 00:29:41,160 We have booked sales of Rs. 30 lakhs this month. 590 00:29:41,240 --> 00:29:42,720 Okay. Projected sales for next month? 591 00:29:42,800 --> 00:29:43,800 Rs. 30 to 40 lakhs. 592 00:29:46,920 --> 00:29:49,080 - So, your sale is much lower then. - Yes. 593 00:29:50,800 --> 00:29:52,840 Let me tell you my decision. 594 00:29:52,960 --> 00:29:54,440 [intense music playing] 595 00:29:56,520 --> 00:29:58,080 I know this market well. 596 00:29:58,240 --> 00:30:02,000 Reduce the price a bit if you can. Scale it up. 597 00:30:02,080 --> 00:30:03,800 - Yes. - As a normal Indian consumer, 598 00:30:03,880 --> 00:30:04,920 people won't buy it now. 599 00:30:05,000 --> 00:30:06,200 [intense music playing] 600 00:30:06,280 --> 00:30:09,600 Go kill it in this market before anybody else. 601 00:30:10,040 --> 00:30:11,600 - Yes, sir. - Grow as much as you can. 602 00:30:11,680 --> 00:30:13,160 All the best. Thank you. I'm out. 603 00:30:13,640 --> 00:30:15,520 Thank you. Thanks for the advice. 604 00:30:16,280 --> 00:30:17,720 Look, your product is good. 605 00:30:17,800 --> 00:30:19,680 I believe I will become a user too. 606 00:30:19,800 --> 00:30:21,640 My son is little now. 607 00:30:21,720 --> 00:30:24,360 If I give it to him, he will call me incessantly 608 00:30:24,440 --> 00:30:26,160 and make things difficult. 609 00:30:26,320 --> 00:30:29,200 But the TAM is a bit tricky. 610 00:30:29,280 --> 00:30:32,840 I think the market size will increase at Rs. 2500. 611 00:30:32,920 --> 00:30:35,160 [intense music playing] 612 00:30:35,640 --> 00:30:37,160 I'd like to pass for now. 613 00:30:37,240 --> 00:30:40,680 I don't think I can match your valuation ask. 614 00:30:40,800 --> 00:30:42,800 [intense music playing] 615 00:30:43,160 --> 00:30:44,240 So, I'm out. 616 00:30:45,560 --> 00:30:47,120 Number one, the price is high. 617 00:30:47,960 --> 00:30:50,600 Second, please simplify. There are too many features. 618 00:30:50,800 --> 00:30:52,040 Focus on safety. 619 00:30:52,120 --> 00:30:54,120 [intense music playing] 620 00:30:54,200 --> 00:30:56,080 Rs. 40 crores is not justified. 621 00:30:56,160 --> 00:30:57,160 So, I'm out. 622 00:30:57,360 --> 00:30:59,040 [intense music playing] 623 00:30:59,560 --> 00:31:01,800 How much money did you invest in setting up the factory 624 00:31:01,880 --> 00:31:03,560 which is your manufacturing facility? 625 00:31:03,680 --> 00:31:06,080 Our manufacturing space is on rent 626 00:31:06,160 --> 00:31:08,400 because these are high-value, low volume items. 627 00:31:08,520 --> 00:31:11,320 Everything is mostly made in an area of 300 square feet. 628 00:31:11,440 --> 00:31:13,800 - Within 300 square feet! - Yes. 629 00:31:13,880 --> 00:31:15,800 In that space, because it's a very small item. 630 00:31:15,880 --> 00:31:18,480 Our current production is 500 units a month. 631 00:31:18,560 --> 00:31:19,760 You make this in-house! 632 00:31:19,880 --> 00:31:21,560 - Yes, in-house. - Wow! Very good. 633 00:31:21,640 --> 00:31:24,240 Do you understand coding and know how to do it? 634 00:31:24,320 --> 00:31:26,680 Can you make UI, UX and firmware? 635 00:31:26,760 --> 00:31:28,560 I have knowledge about UI and UX, 636 00:31:28,640 --> 00:31:30,320 but I don't know have much knowledge about coding. 637 00:31:30,400 --> 00:31:31,680 I do not belong to that background. 638 00:31:31,760 --> 00:31:34,120 Still you made this watch! Unbelievable! 639 00:31:34,640 --> 00:31:36,920 Lovely! Commendable. 640 00:31:38,000 --> 00:31:41,400 I think one needs common sense to make any product, sir. 641 00:31:41,520 --> 00:31:43,280 Your education doesn't matter. 642 00:31:43,360 --> 00:31:44,920 If you have knowledge, you just need to tell. 643 00:31:45,000 --> 00:31:45,960 There are people sitting. 644 00:31:46,080 --> 00:31:47,680 [intense music playing] 645 00:31:47,920 --> 00:31:49,840 Let's make you an offer of Rs. 2 crore. 646 00:31:51,000 --> 00:31:53,120 - Vineeta will explain the details. - Yes. 647 00:31:53,240 --> 00:31:56,320 So, our offer is Rs. 10 crore valuation 648 00:31:56,400 --> 00:31:59,000 which is Rs. 1 crore in equity for 10%. 649 00:31:59,080 --> 00:32:01,080 5% Anupam's and 5% mine. 650 00:32:01,280 --> 00:32:03,800 And on top of that, another 1 crore in debt 651 00:32:10,680 --> 00:32:11,960 Your biggest challenge is 652 00:32:12,080 --> 00:32:15,120 that the churn of parents of the children 653 00:32:15,240 --> 00:32:17,080 in the age group of 5 to 10 years. 654 00:32:17,160 --> 00:32:19,440 There is no repeat, meaningfully. 655 00:32:20,840 --> 00:32:22,760 By the time you buy the watch, 656 00:32:22,840 --> 00:32:26,120 your child will outgrow it and you'll get him a phone. 657 00:32:26,240 --> 00:32:30,000 So, because Anupam and I both have kids in that age group, 658 00:32:30,120 --> 00:32:34,040 we as parents feel this has potential. 659 00:32:35,000 --> 00:32:36,920 It's a fantastic offer. 660 00:32:37,040 --> 00:32:39,280 [intense music playing] 661 00:32:39,640 --> 00:32:42,400 Think and let us know. The decision is yours. 662 00:32:42,480 --> 00:32:44,280 [tense music playing] 663 00:33:00,120 --> 00:33:01,600 - I... - You can see the sales upto now. 664 00:33:01,680 --> 00:33:03,000 We've already made sales of 1.4 crore, 665 00:33:03,080 --> 00:33:04,160 and we have more in the pipeline. 666 00:33:04,240 --> 00:33:06,640 Let me tell you a simple thing, Abhisek. 667 00:33:07,120 --> 00:33:08,960 Who determines the valuation? 668 00:33:09,080 --> 00:33:12,040 The founder doesn't determine it, the market does. 669 00:33:12,920 --> 00:33:15,720 If you had a valuation of Rs. 20 or 30 crores, 670 00:33:15,800 --> 00:33:17,080 you'd already have gathered funds. 671 00:33:17,560 --> 00:33:19,840 [intense music playing] 672 00:33:20,160 --> 00:33:22,200 The investor will give the valuation. 673 00:33:22,360 --> 00:33:24,680 Accepting or rejecting it is up to you. 674 00:33:24,800 --> 00:33:27,240 [intense music playing] 675 00:33:28,680 --> 00:33:31,840 I'll have to think about it. If I can take some time... 676 00:33:31,920 --> 00:33:33,280 You can step out and get back to us. 677 00:33:33,600 --> 00:33:35,760 [intense music playing] 678 00:33:38,000 --> 00:33:41,080 - Dad, are you awake? - 'Yes.' 679 00:33:41,160 --> 00:33:43,960 Yes. They have made me an offer. 680 00:33:44,040 --> 00:33:47,040 - Will you take it for your child? - My deal is different. 681 00:33:47,160 --> 00:33:48,560 How is it different? 682 00:33:48,680 --> 00:33:51,400 Parents are emotional just like you. 683 00:33:51,480 --> 00:33:52,880 The price point will come down. 684 00:33:55,200 --> 00:33:57,520 - Abhisek, what do you say? - Tell us. 685 00:33:58,960 --> 00:34:01,720 Well, I spoke to my father. 686 00:34:01,800 --> 00:34:03,920 Although he doesn't have much knowledge of business, 687 00:34:04,000 --> 00:34:06,240 he said, you know... 688 00:34:07,480 --> 00:34:09,040 "Go with what your heart says." 689 00:34:09,640 --> 00:34:11,520 "Give it another try. Ask them." 690 00:34:11,640 --> 00:34:14,480 "It is not bad to speak your mind." 691 00:34:14,640 --> 00:34:15,520 Oh! 692 00:34:16,480 --> 00:34:18,400 It's like once you aspire 693 00:34:18,480 --> 00:34:21,120 and have eyes on the destination, there's no turning back. 694 00:34:21,240 --> 00:34:22,200 You are steadfast. 695 00:34:22,320 --> 00:34:24,640 - Lovely. That's great. - Nice. 696 00:34:24,720 --> 00:34:27,360 I want to do this. We would be the king in this. 697 00:34:27,440 --> 00:34:30,120 Erm, that's my bet to you. 698 00:34:30,200 --> 00:34:32,800 And believe me, sir and ma'am, 699 00:34:32,880 --> 00:34:35,000 you must've heard of "dark horse". 700 00:34:35,680 --> 00:34:37,080 I am that dark horse. 701 00:34:38,160 --> 00:34:40,920 I'm in for the long haul. So, believe me... 702 00:34:41,080 --> 00:34:42,920 Would we have agreed to invest Rs. 2 crore 703 00:34:43,000 --> 00:34:44,280 if we didn't know it already? 704 00:34:44,360 --> 00:34:46,360 [tense music playing] 705 00:34:48,600 --> 00:34:51,880 - Can you make it 1 crore plus 1 crore in debt... - Debt... 706 00:34:51,960 --> 00:34:53,480 For 7.5% equity? 707 00:35:07,840 --> 00:35:10,440 [intense music playing] 708 00:35:15,600 --> 00:35:16,520 Okay, sir. 709 00:35:16,600 --> 00:35:17,800 Just as you're 710 00:35:18,640 --> 00:35:20,400 willing to bet on me, 711 00:35:20,680 --> 00:35:24,320 I, too, am willing to bet on this. The deal is final. 712 00:35:34,720 --> 00:35:36,280 It'll be worth it for you as well. 713 00:35:36,640 --> 00:35:38,000 I like that... 714 00:35:38,080 --> 00:35:39,680 I think you made a good decision. 715 00:35:40,040 --> 00:35:42,640 [euphoric music playing] 716 00:35:45,320 --> 00:35:46,720 The safety of children. 717 00:35:46,800 --> 00:35:49,240 You started out with a really great thought, 718 00:35:49,320 --> 00:35:50,400 and congratulations. 719 00:36:50,280 --> 00:36:52,280 [theme music plays] 720 00:37:01,320 --> 00:37:03,560 [theme music plays] 721 00:37:05,880 --> 00:37:07,160 Hi, Sharks! 722 00:37:07,520 --> 00:37:09,880 When the pandemic hit people realised 723 00:37:10,040 --> 00:37:12,080 that they should change their lifestyle 724 00:37:12,280 --> 00:37:13,880 to stay healthy and fit. 725 00:37:14,160 --> 00:37:15,080 Okay. 726 00:37:16,000 --> 00:37:17,760 But it is difficult to do this. 727 00:37:17,920 --> 00:37:19,880 In order to achieve this 728 00:37:20,040 --> 00:37:21,880 people join classes, 729 00:37:22,040 --> 00:37:24,160 and follow expensive diets. 730 00:37:25,560 --> 00:37:27,640 It helps them reduce weight, 731 00:37:27,800 --> 00:37:30,440 but their bank balance goes down tremendously. 732 00:37:32,000 --> 00:37:34,640 What next? To solve this problem 733 00:37:34,720 --> 00:37:36,520 we came up with SoupX. 734 00:37:46,480 --> 00:37:50,160 SoupX is India's first personalised Soup-based Meal Brand. 735 00:37:50,360 --> 00:37:51,840 We make healthy soups 736 00:37:52,080 --> 00:37:53,800 to replace your meals. 737 00:37:53,880 --> 00:37:56,280 And that too depending on your fitness goal! 738 00:37:58,160 --> 00:38:01,120 Not just that, we also provide freshly prepared 739 00:38:01,560 --> 00:38:04,960 calorie counted, and no artificial preservative soups. 740 00:38:05,160 --> 00:38:07,360 Which our Chefs and Nutritionist 741 00:38:07,480 --> 00:38:08,960 have carefully curated. 742 00:38:10,640 --> 00:38:12,800 After testing it in the market for five months, 743 00:38:13,000 --> 00:38:15,960 SoupX started in December 2021. 744 00:38:18,320 --> 00:38:21,280 Now, we have more than 99 varieties 745 00:38:21,480 --> 00:38:23,640 of healthy soups available. 746 00:38:25,400 --> 00:38:28,280 Our customers, can order on demand, 747 00:38:28,360 --> 00:38:30,280 or buy a subscription. 748 00:38:30,360 --> 00:38:32,120 [music plays] 749 00:38:36,280 --> 00:38:38,040 healthy soup-based meal brand. 750 00:38:38,200 --> 00:38:41,440 And we are here to fulfil this mission. 751 00:38:41,720 --> 00:38:43,880 Our ask is Rs. 75 lakhs 752 00:38:49,640 --> 00:38:52,360 to make India a 'Souperstar'? 753 00:38:52,720 --> 00:38:54,240 Wow! 754 00:38:59,280 --> 00:39:00,720 - Thank you so much! - Thank you so much, sir. 755 00:39:00,800 --> 00:39:05,360 Tell me something, where did you get this idea of making soup? 756 00:39:05,600 --> 00:39:07,320 We were both in Lucknow, 757 00:39:07,400 --> 00:39:09,360 and we were working from home during the pandemic. 758 00:39:09,440 --> 00:39:10,640 Okay! 759 00:39:11,880 --> 00:39:13,960 We participated in Food Distribution Drive. 760 00:39:14,040 --> 00:39:16,400 We distributed an immunity booster soup one day. 761 00:39:17,960 --> 00:39:20,560 A couple of days later we received called 762 00:39:20,640 --> 00:39:23,080 asking us if we can distribute soup again. 763 00:39:23,360 --> 00:39:24,600 How did you make that soup? 764 00:39:24,680 --> 00:39:27,280 It was made from lentils, but we named it immunity booster. 765 00:39:27,360 --> 00:39:29,600 We used Ashwagandha herbs. 766 00:39:29,800 --> 00:39:30,760 Okay! 767 00:39:32,360 --> 00:39:34,160 So, with basic research you... 768 00:39:34,280 --> 00:39:36,920 - Yes! We didn't make it from a business point of view. - Okay. 769 00:39:37,000 --> 00:39:38,400 When the customer called 770 00:39:38,520 --> 00:39:41,080 that might have given us the idea. 771 00:39:42,000 --> 00:39:45,440 For around three months we used to just research. 772 00:39:45,520 --> 00:39:47,560 We observed two things. 773 00:39:47,760 --> 00:39:50,120 If anyone wants to change their dietary lifestyle, 774 00:39:50,360 --> 00:39:51,840 it becomes very expensive. 775 00:39:52,400 --> 00:39:54,680 And soup is a very healthy product. 776 00:39:54,760 --> 00:39:57,320 There is no healthy soup brand. 777 00:39:59,160 --> 00:40:01,400 By combining these two, our objective was 778 00:40:01,480 --> 00:40:03,920 to make healthy meal less expensive. 779 00:40:04,200 --> 00:40:06,520 By combining soup, we came up with SoupX meal. 780 00:40:06,640 --> 00:40:08,040 Which is soup plus a healthy side. 781 00:40:08,120 --> 00:40:10,800 That curated a complete meal replacement plan. 782 00:40:10,960 --> 00:40:12,960 [music plays] 783 00:40:18,240 --> 00:40:21,320 After that, I did Summer Exchange in Entrepreneurship 784 00:40:21,400 --> 00:40:22,520 from ISB, Hyderabad. 785 00:40:22,640 --> 00:40:25,280 Currently, I handle Technology and Operations at SoupX. 786 00:40:39,600 --> 00:40:41,560 We have cold soup and hot soup. 787 00:40:43,360 --> 00:40:45,840 - We also have hot soup. - Give it before it cools down. 788 00:40:46,240 --> 00:40:47,600 Sure. Let me bring it. 789 00:40:50,600 --> 00:40:52,080 We also have cold soups 790 00:40:52,240 --> 00:40:53,760 which is very popular. 791 00:40:55,120 --> 00:40:57,200 - This is for you, Vineeta! - Oh wow! Thank you! 792 00:40:57,280 --> 00:40:58,640 - Customised. - Which one did you give her? 793 00:40:58,760 --> 00:41:00,320 - Lotus Root and Walnut! - Aman, 794 00:41:00,440 --> 00:41:02,280 - this is for you. - Smoked Chicken Soup. 795 00:41:09,440 --> 00:41:10,440 Gazpacho. 796 00:41:11,200 --> 00:41:12,480 Hmm! 797 00:41:14,520 --> 00:41:16,520 [music plays] 798 00:41:19,360 --> 00:41:20,480 I didn't like it, bro! 799 00:41:21,200 --> 00:41:22,880 [dramatic music plays] 800 00:41:23,840 --> 00:41:25,680 My issue is that it is very sweet. 801 00:41:25,760 --> 00:41:27,520 [dramatic music plays] 802 00:41:27,600 --> 00:41:29,920 The one I am having is delicious. Try it. 803 00:41:30,120 --> 00:41:32,120 - It is delicious. It isn't very sweet. - This one is very sweet. 804 00:41:32,200 --> 00:41:34,160 [dramatic music plays] 805 00:41:34,240 --> 00:41:36,600 Hmm! This is not nice. What I got is very nice. 806 00:41:36,840 --> 00:41:37,880 What is there in this? 807 00:41:37,960 --> 00:41:39,320 Smoked chicken. 808 00:41:39,560 --> 00:41:40,560 Why is it not nice? 809 00:41:40,640 --> 00:41:43,560 - It is nice, but... - I am not liking it. Not good. 810 00:41:43,640 --> 00:41:45,520 [dramatic music plays] 811 00:41:46,360 --> 00:41:48,160 It tastes good, but it is cold. 812 00:41:48,240 --> 00:41:49,960 I am not used to it. But it tastes good. 813 00:41:50,040 --> 00:41:52,320 [dramatic music plays] 814 00:41:55,920 --> 00:41:58,600 This is a game of formulation and taste. 815 00:41:58,680 --> 00:42:00,520 These soups are made from a base. 816 00:42:00,600 --> 00:42:03,400 We have around 14 bases, to give you a number. 817 00:42:03,480 --> 00:42:05,440 Only the head Chefs know 818 00:42:08,240 --> 00:42:09,960 There must be a modular way. 819 00:42:10,040 --> 00:42:12,080 Yes! Now what happens is the expert chefs 820 00:42:12,160 --> 00:42:13,640 are only housed at central kitchen. 821 00:42:13,720 --> 00:42:15,960 - Where they make a DIY kit. - Okay. 822 00:42:17,320 --> 00:42:21,440 Its shelf life is 6 months for our B2B node supply only. 823 00:42:21,880 --> 00:42:24,120 Now, it becomes very easy. Even if a novice chef comes, 824 00:42:33,040 --> 00:42:34,120 Nice! This was fun. 825 00:42:40,360 --> 00:42:43,600 we have a SoupX meal. The concept is that the soup is a central figure. 826 00:42:43,680 --> 00:42:46,640 In small sizes, we serve healthy sides. 827 00:42:49,000 --> 00:42:50,560 Like, we have garlic breads, 828 00:42:50,640 --> 00:42:52,720 or as healthy sides we have veggie bowls. 829 00:42:52,800 --> 00:42:54,040 There are small sizes of salads. 830 00:42:54,120 --> 00:42:56,000 Or whole wheat sandwiches. 831 00:42:56,080 --> 00:42:59,040 You will see around 30 to 40 percent calorie reduction. 832 00:42:59,120 --> 00:43:01,400 If you buy something from the weight loss category. 833 00:43:02,640 --> 00:43:04,480 What I understand here is 834 00:43:04,560 --> 00:43:07,400 that your understanding of health is superficial. 835 00:43:09,280 --> 00:43:11,080 You are talking about sides 836 00:43:11,160 --> 00:43:14,760 like meat or garlic bread. 837 00:43:15,320 --> 00:43:17,280 And you think these are healthy choices. 838 00:43:19,160 --> 00:43:22,840 As far as I know... I have done a lot of research on this 839 00:43:23,400 --> 00:43:25,000 All this is nonsense. 840 00:43:25,080 --> 00:43:27,960 [tense music plays] 841 00:43:28,280 --> 00:43:31,240 What do you work as which will make you a health expert? 842 00:43:31,400 --> 00:43:34,000 I am saying that this is not the healthiest thing. 843 00:43:34,640 --> 00:43:38,480 - But it is healthier than the dinner you usually have. - Correct. 844 00:43:38,960 --> 00:43:40,800 Even if it isn't, you become healthy. 845 00:43:40,880 --> 00:43:43,840 Our ancestors used to say we should have a light dinner. 846 00:43:43,920 --> 00:43:46,600 But we eat junk at night. 847 00:43:48,160 --> 00:43:50,960 Can you scan and show us its nutritional value? 848 00:43:51,080 --> 00:43:53,480 We will show you the website! This is our website. 849 00:43:53,560 --> 00:43:56,360 Where we are proposing our core proposition like freshly prepared, 850 00:43:56,440 --> 00:43:58,600 no artificial preservations, etcetera. 851 00:43:58,680 --> 00:44:00,360 [music plays] 852 00:44:00,480 --> 00:44:01,560 If we scroll down, 853 00:44:01,640 --> 00:44:04,600 we can see what are the popular categories in our menu. 854 00:44:04,680 --> 00:44:05,680 The website is good. 855 00:44:05,760 --> 00:44:07,720 Can you open something and show the nutritional value? 856 00:44:07,800 --> 00:44:09,240 I will do this. 857 00:44:09,320 --> 00:44:11,160 It reads, healthy can be inexpensive. 858 00:44:11,240 --> 00:44:12,960 If you scroll down, there are two options. 859 00:44:13,080 --> 00:44:15,400 I want to see the nutritional value of a soup. 860 00:44:15,480 --> 00:44:16,640 I just showed you... 861 00:44:16,720 --> 00:44:19,240 No! Just show the nutritional value of a soup. 862 00:44:19,320 --> 00:44:20,680 Why are you avoiding that? 863 00:44:20,760 --> 00:44:23,200 [tense music plays] 864 00:44:25,120 --> 00:44:26,840 I am confused. Are you asking about calories? 865 00:44:26,920 --> 00:44:29,000 That is my fundamental problem with you guys. 866 00:44:29,080 --> 00:44:31,720 [tense music plays] 867 00:44:32,440 --> 00:44:36,040 She asked you thrice about nutritional value. 868 00:44:36,360 --> 00:44:38,480 - What is the composition of this? - My bad. 869 00:44:38,560 --> 00:44:40,920 My bad sorry. I didn't understand the question. 870 00:44:41,000 --> 00:44:42,480 Please answer that question. 871 00:44:43,520 --> 00:44:45,360 It has 6.5 grams of protein. 872 00:44:45,440 --> 00:44:48,720 13.9 grams carb, and 19.3 fat. 873 00:44:48,800 --> 00:44:50,680 We multiplied protein by nine. 874 00:44:50,760 --> 00:44:52,840 [suspenseful music plays] 875 00:44:53,360 --> 00:44:56,800 - We multiplied carbs and fats with four, so... - Why? 876 00:44:57,000 --> 00:44:59,680 - Because one gram protein... - No! Wrong. 877 00:45:06,120 --> 00:45:07,080 Yeah! 878 00:45:09,800 --> 00:45:11,360 I have made a decision. 879 00:45:14,680 --> 00:45:16,680 You cannot be in the health business 880 00:45:16,760 --> 00:45:18,640 without knowing the fundamentals of it. 881 00:45:20,840 --> 00:45:22,920 I want the founders to be such 882 00:45:23,000 --> 00:45:27,080 that they know left, right, and centre of the business. 883 00:45:27,160 --> 00:45:29,040 [dramatic music plays] 884 00:45:30,120 --> 00:45:33,760 You still haven't gotten there. And that is why I am out! 885 00:45:34,200 --> 00:45:37,200 [tense music plays] 886 00:45:37,320 --> 00:45:39,520 I wish you the best. I hope you prove me wrong. 887 00:45:40,880 --> 00:45:42,200 Tell me about your sales. 888 00:45:42,280 --> 00:45:44,640 I think you have good sales. I have a feeling. 889 00:45:44,720 --> 00:45:46,920 Last month we made a sale of Rs. 8 lakhs. 890 00:45:47,000 --> 00:45:48,080 Not bad. 891 00:45:49,360 --> 00:45:50,640 And before that, it was Rs. 7 lakhs. 892 00:45:50,720 --> 00:45:53,680 And prior to that around Rs. 6 lakhs. 893 00:45:53,760 --> 00:45:56,640 - What profit does the business make? - The gross margin 894 00:45:56,720 --> 00:45:58,800 is around 70 to 75 percent. 895 00:45:58,880 --> 00:46:00,760 - Very good! - So, good. 896 00:46:16,960 --> 00:46:19,600 Now that EBITDA is positive how much do you save every month? 897 00:46:19,680 --> 00:46:21,720 EBITDA is still negative. 898 00:46:22,960 --> 00:46:25,520 - We put in around 1 to 1.5 lakhs each month. - Why? 899 00:46:25,640 --> 00:46:27,680 Because we pay commissions. 900 00:46:27,760 --> 00:46:31,320 After that, we pay the Chef and the others. It is Rs. 2 lakhs. 901 00:46:33,120 --> 00:46:36,440 We advertise less. We spend around Rs 70,000 on advertisement. 902 00:46:36,520 --> 00:46:37,920 We spend the rest on raw materials we need. 903 00:46:38,000 --> 00:46:40,480 This is where I have an issue 904 00:46:40,600 --> 00:46:43,400 Burn! Why is burn getting fashionable? 905 00:46:44,200 --> 00:46:45,960 We don't burn on our level. 906 00:46:46,040 --> 00:46:48,600 - I go to work and with that salary... - What? 907 00:46:48,720 --> 00:46:50,520 [dramatic music plays] 908 00:46:50,840 --> 00:46:52,040 Yes! 909 00:46:52,840 --> 00:46:54,800 This is not considered positive. 910 00:46:54,880 --> 00:46:56,560 This is not really negative either. 911 00:47:09,280 --> 00:47:10,960 After that, I was set to join, 912 00:47:11,040 --> 00:47:14,360 but due to macroeconomic scenarios, we couldn't get funding. 913 00:47:14,440 --> 00:47:17,160 Because of this, we were wondering what to do. 914 00:47:17,280 --> 00:47:19,000 [dramatic music plays] 915 00:47:19,400 --> 00:47:21,040 So, we sat down and discussed 916 00:47:21,160 --> 00:47:23,320 that I will put a significant portion of my salary into it. 917 00:47:23,400 --> 00:47:26,600 Because my domains are stratergy, marketing, and finance. 918 00:47:26,680 --> 00:47:29,200 I used to work online till 9 pm. 919 00:47:29,280 --> 00:47:31,400 Because from 11 to 4, every day, till today, 920 00:47:31,520 --> 00:47:32,760 we sit and work. 921 00:47:32,880 --> 00:47:33,960 I sit with the nutritionist 922 00:47:34,040 --> 00:47:35,440 and see how to go about it. He handles operations. 923 00:47:35,520 --> 00:47:37,800 I get it. We also started by doing some moonlighting. 924 00:47:42,000 --> 00:47:44,920 Both of you are genuine. 925 00:47:45,000 --> 00:47:48,000 Both of you make a cute team. 926 00:47:48,080 --> 00:47:50,680 It is not easy to make Rs. 8 lakhs in the soup business. 927 00:47:50,760 --> 00:47:52,320 That's an annual revenue of Rs. 1 crore. 928 00:47:52,400 --> 00:47:55,400 You are doing that part-time. This is commendable. 929 00:47:55,480 --> 00:47:57,400 You are hustling to your fullest potential. 930 00:47:58,040 --> 00:48:00,080 I cannot add value to this. 931 00:48:01,080 --> 00:48:02,960 Which is why I am out of this. 932 00:48:04,680 --> 00:48:06,640 I didn't really get the taste. 933 00:48:08,480 --> 00:48:11,120 I am scared of businesses that have burn rates. 934 00:48:11,200 --> 00:48:13,320 So, for that reason, I am out. 935 00:48:15,680 --> 00:48:19,080 As a Shark, as an investor, we bet on the founders. 936 00:48:19,160 --> 00:48:20,880 [suspenseful music plays] 937 00:48:20,960 --> 00:48:24,200 And you didn't know about your product. 938 00:48:24,280 --> 00:48:27,360 As Anupam said, that bothered me. 939 00:48:28,560 --> 00:48:30,200 Once there is that depth, 940 00:48:30,320 --> 00:48:31,800 this can grow for sure. 941 00:48:31,880 --> 00:48:34,560 But I felt this is very sweet. 942 00:48:36,120 --> 00:48:38,240 Because of these two reasons, I am out. 943 00:48:39,800 --> 00:48:41,960 Four sharks are out. 944 00:48:42,480 --> 00:48:44,720 Only talk to Vineeta now. 945 00:48:44,800 --> 00:48:48,560 I think it is at an early stage right now. 946 00:48:48,640 --> 00:48:50,440 [dramatic music plays] 947 00:48:50,560 --> 00:48:52,760 I am not convinced 948 00:48:52,840 --> 00:48:55,560 that you will be able to do this, especially with your day job. 949 00:48:55,640 --> 00:48:58,080 I will quit it. I will anyway quit my day job. 950 00:48:58,200 --> 00:48:59,440 You have been saying you will leave it. 951 00:48:59,520 --> 00:49:01,920 You got Rs. 25 lakhs, but you still didn't leave it. 952 00:49:02,560 --> 00:49:04,760 They have expenses now. 953 00:49:04,840 --> 00:49:07,480 But is not fair to the investor from whom he raised Rs. 25 lakhs. 954 00:49:07,560 --> 00:49:09,640 I will quit it. I spoke with him about this. 955 00:49:09,720 --> 00:49:12,280 He gave that condition. Don't take a salary. 956 00:49:14,200 --> 00:49:17,120 I will resign tomorrow itself if you offer... 957 00:49:17,200 --> 00:49:19,320 - Will you resign if you get funding? - I will resign. 958 00:49:19,400 --> 00:49:21,240 Money is the problem and nothing else. 959 00:49:22,520 --> 00:49:24,120 What do you think, Vineeta? 960 00:49:26,240 --> 00:49:28,200 [suspenseful music plays] 961 00:49:32,560 --> 00:49:33,840 Something is happening. 962 00:49:33,960 --> 00:49:36,240 [suspenseful music plays] 963 00:49:39,600 --> 00:49:43,200 Ah! I am not really... 964 00:49:43,760 --> 00:49:45,120 Please! 965 00:49:46,880 --> 00:49:48,640 Oh, God! 966 00:49:49,000 --> 00:49:51,480 Please! If you think the valuation is wrong let me know. 967 00:49:51,560 --> 00:49:54,240 I am being honest! We will work on the product. 968 00:49:55,440 --> 00:49:57,160 Sweet! 969 00:50:05,640 --> 00:50:07,760 If you open 16 nodes 970 00:50:07,840 --> 00:50:10,040 how much will be the total expense? How much will EBITDA be? 971 00:50:17,600 --> 00:50:19,560 Just imagine, when we order 16 nodes 972 00:50:19,680 --> 00:50:22,720 the COGS will go down drastically. 973 00:50:22,880 --> 00:50:24,760 Hmm! So, you will run a profit! 974 00:50:24,840 --> 00:50:27,000 We will be profitable in around three months. 975 00:50:30,080 --> 00:50:31,320 I will give you an offer. 976 00:50:33,680 --> 00:50:35,320 Rs. 50 lakhs in equity. 977 00:50:35,440 --> 00:50:38,560 I will take 20 percent of the company for that. 978 00:50:52,280 --> 00:50:53,960 We will build it patiently. 979 00:50:54,080 --> 00:50:57,760 In fact, I recently heard 980 00:50:57,840 --> 00:50:59,560 Kabir's couplet. 981 00:50:59,640 --> 00:51:02,400 I don't read it that much. But it goes like this. 982 00:51:02,640 --> 00:51:05,800 Oh mind, be patient. Results take some time to show up. 983 00:51:05,800 --> 00:51:08,840 Even if the gardener pours the plant with hundred buckets of water, 984 00:51:08,920 --> 00:51:10,880 the fruits will come only when the right season arrives. 985 00:51:10,960 --> 00:51:12,680 Amazing! Lovely! 986 00:51:12,760 --> 00:51:15,120 - Yes! - You have to learn about the product. 987 00:51:15,200 --> 00:51:18,360 And you have to scale it through content. I can help you with that. 988 00:51:19,080 --> 00:51:20,640 We will take five seconds. 989 00:51:20,720 --> 00:51:22,280 Five seconds? I like that. 990 00:51:22,360 --> 00:51:24,840 Do we want to do less valuation from an existing investor? 991 00:51:24,920 --> 00:51:26,600 No, we need that much. 992 00:51:26,800 --> 00:51:28,320 Vineeta, we have a counteroffer for you. 993 00:51:28,400 --> 00:51:30,360 [dramatic music plays] 994 00:51:31,200 --> 00:51:34,760 Can you make it Rs. 50 lakhs for 18 percent equity? 995 00:51:36,520 --> 00:51:38,120 We are okay with the remaining debt. 996 00:51:38,240 --> 00:51:39,800 Rs. 25 lakhs for 12 percent interest. 997 00:51:46,960 --> 00:51:50,240 My dad used to say health is wealth. 998 00:51:50,360 --> 00:51:52,640 So, I like investing in businesses that have to do with health. 999 00:51:52,720 --> 00:51:54,640 - I will do that a lot this season.- Congratulations, guys! 1000 00:51:54,720 --> 00:51:57,200 - Thanks a lot! - But! Just to clarify! The offer is 1001 00:52:08,600 --> 00:52:09,960 I am very excited! 1002 00:52:37,520 --> 00:52:38,560 - a flexible approach. - Well done! 1003 00:52:38,640 --> 00:52:39,800 Good people to back. 1004 00:52:40,280 --> 00:52:42,520 Just work on the soup I got. It was bad. 1005 00:52:42,640 --> 00:52:43,960 Same. 1006 00:53:31,640 --> 00:53:32,840 'In Shark Xperience, 1007 00:53:32,920 --> 00:53:35,840 we will learn about the Sharks better.' 1008 00:53:35,920 --> 00:53:38,440 'Namita, Megha from Gurugram, Haryana, 1009 00:53:38,520 --> 00:53:40,440 would like to know, 1010 00:53:40,520 --> 00:53:44,080 how you balance work and family life?' 1011 00:53:45,400 --> 00:53:47,720 Megha, this is a lovely question. 1012 00:53:47,800 --> 00:53:50,680 To be honest, let me give you my example. 1013 00:53:50,800 --> 00:53:52,560 There is nothing called balance. 1014 00:53:52,640 --> 00:53:54,920 Sometimes I prioritise work,