[theme music playing]
[theme music continues]
[theme music fading]
Sharks, in 2017, we realised
we had done something smashing!
[unanimous laughter]
It was so smashing
that we left behind a magnificent life in the US,
a great job in IBM,
a green card that awaited us, and everything else.
We came to India to change the world with our dream.
You must be wondering what problem it is that we solved.
We converted children's games into learning apps.
We gamified studies
and launched many such apps in the market.
Presenting GunjanApps.
[pleasant music playing]
Greetings, I am Sourav Gupta.
worksheets, and other similar learning activities
by way of games in a fun and interesting manner.
When I was looking for such learning apps for my son,
I learnt that there are no such learning apps in the market.
The ones that were there had very costly subscriptions.
You also needed the internet to run them.
That's when we decided to make apps
that would run on all the smartphones in the world.
They are completely offline,
and the best part, absolutely free of charge!
Wow!
to every child in the world.
And for this reason,
our ask is Rs. 2.5 crores in exchange for 1% equity.
[coughs and clears throat]
Come, let's make GunjanApps the companion of every child.
- I hope you know you've come on Shark Tank. - Yes.
- This is Shark Tank India. - India, yes.
Not the US one.
Sir, this is just as good as the US one!
- Whoa! Good answer. - No, this feels better.
- Sourav and Gunjan, good. - Yes.
- Welcome to Shark Tank. - Thank you.
- of Kolkata. - Nice.
I did my engineering over there.
I was offered a placement in L&T, Mumbai,
as a software engineer.
I worked here for some time and then I was transferred to Pune.
I went to the US from there and lived there for four years.
I realised we should do something of our own.
I was keen on it since childhood.
My family has a background in business.
I've worked with my dad in the shop as well as the warehouse.
Gunjan, tell us your story.
- I hail from a small city in UP called Lalitpur. - Wow!
I did my engineering from University of Rajasthan, Jaipur.
After that, I thought of learning a new technology.
When Android was just launched,
I did a six-month course on it from Pune.
Do you have kids?
Our kid is the one who gave us this business idea.
Tell us about it.
What happened was that we were in the US.
Our son had just been born and was around 1.5 years.
She was attending a girl's party.
- Girl's party! - What's a girl's party?
A few girls had organised a party.
[laughs]
- Men not allowed. - Yes.
I was getting bored at home.
I had to babysit my son at that time.
I called my friend and said,
"Your wife has also gone to the party. Let's get plastered."
- Plastered! - [hysterical laughter]
My friend said, "What do we do with him?"
[hysterical laughter]
"What do we do with him?"
There's nothing to worry about.
Let's switch on the TV and leave him here and we...
You've very entertaining.
"What do we do with him?"
No, it happens.
We sat him down by the TV.
We said let's play some nursery rhymes.
The autoplay feature was on.
- Poor guy. - He was watching rhymes.
We were sitting and chatting.
My friend said to me,
"You have taught him the English alphabet and numbers!"
"He's too little."
I said, "No, I didn't teach him any of it.'"
[Sharks laugh]
I asked my friend to replay the video.
He replayed the video.
My son was able to recognise numbers. "2! 3!"
But we had not taught him anything!
He could also identify colours.
I felt proud at that moment. I said, "Saw that!"
My son!
[Sharks laugh]
She returned home around midnight.
My first question to her was,
"When did you teach our son the alphabet and numbers?"
She said, "It wasn't me."
We were both shocked as to how it happened.
Then she said
that she was working on a POC
in which she had developed a very simple app for the alphabet.
- That's right. - He learnt by tapping the screen.
That was our eureka moment.
- That we'd done something smashing. - We'd smashed it!
The problem of a child learning without the help of parents...
If my son can do it, then all the children in the world can too.
As a test, we launched the app the way it was.
- This guy is interesting. - Very interesting!
Do invite me over if you ever host a boy's party.
[Sharks laugh]
Okay. Sir, we have many apps. There's a lot of variety.
There's maths and colouring books.
Let me show you an app...
I'll show you the app from where my son learnt numbers.
Although it isn't that interactive.
'Hello, I am Binny.'
'Let's have fun with numbers.'
So cute!
It's so simple that even a 1.5-year-old kid
can learn on this app.
- They just have to tap the numbers. - Yes.
'3! 7! 6!'
As a parent,
especially at a young age? What are your thoughts?
Number one,
Covid has substantially increased the screen time of kids.
Yes.
For instance, before Covid,
kids used to have a screen time of 9 minutes on average.
- Per day. - Per day and per child, it used to be 9 minutes.
Depends on the age.
You could say for ages 2 through 10 years.
During Covid, this increased to 60 minutes.
Mostly because of online classes and all those things.
According to reports,
this is not coming down even though schools have reopened.
Yes, it has come down from 60 minutes to 45 minutes.
But it's not like it has gone back to the previous time of 9 minutes.
Got it.
Our goal is to provide quality screen time.
I completely disagree.
I didn't find them to be educational.
And they are so addictive
that the child gets engrossed,
and he will keep doing it over and over again. The learning ends.
- Then they're just... - You can't call it addictive.
If the child has nothing to do, he will always ask for a phone.
If you're giving him the device,
instead of watching something silly, he can learn something meaningful.
[intense music playing]
We showed you just one game.
We have 40 such games.
The number one game is the math game.
it wouldn't have had 3 lakh positive reviews.
It has become a habit.
- I agree with you on that. - Although Covid is to blame.
I agree.
It's unavoidable.
Sourav, the way you presented these apps today
was as though you had invented something revolutionary.
Have you heard of ABCmouse?
- Yes. - You've lived in the US.
- It's a big company. - Yes, it is.
You have copied apps like ABCmouse and made them available for free.
- Have you heard of Kiddopia? - Yes.
- It was made in India. - Yes.
It's a premium app just like yours. Exactly what you showed us.
[intense music playing]
Have you heard of AppyStore?
- Yes, sir. - Yes.
Did you know that I made it?
- No? - No, I didn't know.
You should have done your research.
Let me tell you a few things.
You mentioned that we've copied ABCmouse.
- That's not true. - You took inspiration from it.
- No... - Not inspiration either.
It doesn't have the modules that we do.
Doesn't Kiddopia have these games and modules?
- No, sir. - Meet me outside.
My five-year-old daughter spends a lot of time on Kiddopia.
AppyStore has exactly this!
It will be as clear as day!
Leave that aside. How could you say that there was nothing back then?
ABCmouse was available on iOS.
Their presence on Android...
It's because iOS runs in the US market.
[intense music playing]
Don't... Don't confuse the issue.
Yes, but there was nothing available for Android.
- Android... - You didn't specify Android.
[intense music playing]
- Let's forget it. - Okay, I accept that.
Tell me your business model and your revenue.
Also tell me about your team.
Our revenue is generated through three streams.
The first is ads,
Ads generate around 96% revenue.
What's your total revenue?
It was Rs. 24 crores last year.
Wow!
This year?
We have made Rs. 8.5 crores in five months this year.
It's declining.
- It is declining and that has its reasons. - Hmm.
What was last month's figure?
We did Rs. 1.45 crores last month.
- Covid has ended. - Covid has ended...
- So, screen time has reduced. - That's what it is.
[intense music playing]
How much was it prior to Rs. 24 crores?
Rs. 14.7 crores.
Alright. I'll assume it's Rs. 18 crore this year.
How much profit did you generate last year?
Our gross last year was 95%.
Our EBITDA was Rs. 21 crore.
- Is the profit percentage on the same lines this year? - Yes.
- Is there a team other than the two of you? - Yes, there is.
We are 32 actually.
- 32. - 32 people.
What are their monthly and yearly salaries?
If I exclude us,
we pay about Rs. 7.5 to 8 lakhs in salaries.
You have hired 32 people for Rs. 8 lakhs a month.
Yes, sir.
- Where is this? - Kolkata, sir.
Gosh. Lovely.
[intense music playing]
Ignoring the debate that happened, I'd like to congratulate you
for establishing a profitable internet business
in which you earned a net EBITDA of Rs. 15 crores in a year.
Big companies with revenues of Rs. 1000 crores
have a burn of crores.
- I think you should be proud of that irrespective. - Yes. We are.
- We are, actually. - Okay, very good.
Now tell me why your revenue is declining.
We are shifting our complete model from ads to subscriptions.
Our target is that by 2024,
we should be at 60% subscriptions and 40% ads.
You're doing it because venture capitalists have told you
they will not invest if you're an ad business.
- We didn't approach anyone. - We have not.
- We have not approached anybody. - You have not!
Alright, I've made my decision.
[intense music playing]
The time spent on such things will keep increasing.
And also, this is very addictive.
And your total ask is also very high.
So, I am out.
The numbers you gave us
of the screen time being 9 minutes pre-Covid
which increased to 60 minutes and came down to 45 minutes now,
is a tragedy.
Rather than accepting it,
we need to take a step back
and go back to the old-fashioned ways.
And since fundamentally I don't believe in it, I'm out.
Okay, no problem.
Every country is placing restrictions.
- You can't advertise to kids. - You cannot.
And that's why you're moving towards subscription.
- Okay? - Agreed?
- Didn't you have to do it? - Agreed.
- Agreed? - Agreed.
Now you'll be up against the names I mentioned a while ago.
Alright.
And I don't believe you're capable of competing with them.
[intense music playing]
And for these reasons, I'm out.
What do you think was your biggest mistake?
I wouldn't call it a mistake, sir.
Maybe we learnt a little too late.
Learnt what?
We went from 0 to 1 and from 1 to 10,
but we're finding it difficult to go from 10 to 100.
What do you think you need to go from 10 to 100?
We need to spend on the market.
No.
- We need to build a team. - Yes.
Do you have it in you to share your wealth and build a team?
Yes, sir. We do.
Are you willing to pay someone a salary of Rs. 1 crore?
Yes, absolutely.
Actually, they weren't willing to be associated with us.
We have even offered that kind of salary.
But their mindset was this is quite non-glamorous...
Okay, I have made my decision. I am out.
Okay.
But great business, and wish you the best of luck.
- Thank you. - Thank you.
I am very fond of passionate entrepreneurs.
And you are passionate entrepreneurs.
There's one more thing.
You should be very passionate, but paranoid about competition.
So, I am out for that reason.
But you are not paranoid about competition.
So, wish you all the best, guys.
Okay.
- Good luck. - Best of luck.
- Thank you, guys. - No...
- Bye. Cheers. - Bye.
- Take care. - Hang on a second.
She wants to say something. Please speak your mind.
I felt that had you offered us a deal today,
it would have been easier for us to take this forward.
[sentimental music playing]
It will never be easy. The path is difficult.
Entrepreneurship is very hard.
If you wish to continue on this journey, then you will.
If you need time...
Because I set up this business, I don't say this to everyone,
I am happy to give you my advice and input.
Meet me outside.
We will have a discussion.
Then you decide how you wish to proceed and where to.
- Alright? - Okay, bye.
- Thank you. - Thank you.
- Bye, guys. - Buh bye.
Buh bye.
I was in.
I was waiting for Anupam. He has built internet businesses.
I thought if he said yes, I was ready to invest.
I really wanted him to come on board.
I was having difficulty
- working with him. - I couldn't understand
- whether Sourav was coachable to invest in a team. - Exactly.
But Ahmedabad's Soham Pathak has just one passion.
To help his mother become independent
and settle her down in her career.
[theme music playing]
[theme music fading]
- Greetings, Payal. - Hi.
Sharks, I've struggled with losing weight all my life.
No matter where I went, I was told the same thing.
"Consume salads to lose weight."
- How can one eat boring salads every day? - True.
So, over time, I began making
healthy, delicious, and creative salads for myself.
Nowadays, people don't have time to make salads.
Nor do they have creative options available.
So, together, my son and I established The Simply Salad.
[music playing]
The Simply Salad is a cloud kitchen in Ahmedabad
that delivers a variety of healthy, tasty and creative salads
to your doorstep.
It contains protein, fibre, vitamins, low fat and low carbs.
We have kept the freshness intact,
and given an Indian touch to all of our salads.
Along with that, we've ensured they're affordable.
You can order our salads
- Wow! - Wow!
Very nice.
We easily deliver 80 to 90 orders in a day.
- Nice. - And for that, our ask is
I am normally very excited when it's a food pitch.
But looking at salads... [chuckles]
Firstly, welcome to Shark Tank, Payal.
- Thank you. - I have never heard
of a son using his mother's name as a middle name before.
Was this your decision or was it yours, Payal?
It was my decision because she's a single mother.
Over the years, she has raised me single-handedly.
I witnessed her journey as I grew up,
and I understood that she deserves my name to have Payal in it.
- How old are you? - 19 years.
- Whoa! - Wow.
Hats off.
Payal, tell us how The Simply Salad came into being.
I hail from a city called Dhoraji which is near Rajkot.
I have studied MCom,
after which I pursued cabin crew training at Frankfinn Institute.
We moved to Ahmedabad after marriage.
- Soham was two when I filed for divorce. - Okay.
By God's grace, the judgement was passed in my favour
and I got Soham's custody.
Two years later when I came to Ahmedabad,
I was working in British Airways as a reservation counter officer.
Okay.
But the income from my job wasn't enough.
The PG business in Ahmedabad was in trend at the time.
I thought I'd let about 5 girls stay with us.
It'd be a source of income,
and Soham would have some support in the case of my absence.
What does PG stand for?
Paying guest.
Oh, paying guest!
I quit my job
and I was focusing completely on the PG business.
In this manner, I had almost 150 girls before Covid set in.
- Wow! - But life's a rollercoaster.
When Covid returned, all the girls left.
We used up all our savings.
We noticed Swiggy and Zomato making frequent deliveries there.
Only bachelors stayed back.
Families went back to their villages on account of Covid.
They needed food.
Soham and I decided to sell food
for which we'd have no competitors in the market.
You know, something different.
Everything mom made for me used to be healthy as well as tasty.
Let's take white sauce pasta for instance.
That's unhealthy if you see.
It has Mayo and the pasta is made from flour.
She used to make wheat pasta with hung curd.
I realised that mom had a skill set.
Why not give it a platform?
Wow.
That's when we set up The Simply Salad.
- Amazing. - Very nice.
Soham, what about the future? Don't you want to study further?
- I am studying. - Where?
I study in Ahmedabad University
in the second year of BBA (Hons.), Finance and Economics.
- Very good. - Okay. Good.
You're working simultaneously.
- Yes. - Very good.
How do you divide responsibilities amongst yourselves?
What does Soham do?
I handle the recipe bit.
I do the work of keeping everything ready in the morning.
Let's suppose we have 50 orders and three drivers.
Soham oversees which orders will be fulfilled by which drivers.
Other than that, Soham oversees finance as well as social media.
- Barring that... - Have you hired any manager?
- No. - Not yet.
Will your salad reach every Shark or not?
Sure.
[upbeat music playing]
I don't eat salads.
- Here, sir. You'll enjoy it. It's for you. - Eat it.
- Come on. - Why do I get the special one?
Everybody gets a special one.
But I don't eat salads.
You will like it, believe me. I promise.
Try it. Try a spoon.
- What is this? - This is the magic salad bowl.
Magic salad.
- Okay... - I want something without milk.
- Does it contain milk? - None of them have milk.
- There's paneer. - I'll take this.
- Thanks. - This is the sprout bowl.
- This is the magic salad. - Oh, magic!
What is this, Payal?
- This is multigrain mamra. - Okay.
The salad is very good.
Thank you.
The cranberry flavour was good.
A little sweet touch.
What is this?
This has mamra and green chutney.
- Is this green chutney or some other dressing? - Wow!
Look at him saying wow!
He used to have bland food with me!
[chuckling]
Do you have more of this?
- Give me mamra too. - This one...
This is the best. This product is a winner.
[pleasant music playing]
You were right.
I think her healthy plus tasty touch really shows in her food.
It contains a hidden ingredient. That is her love.
Aw! That's so sweet. Mother's love!
[music fades]
[tense music playing]
It's okay. It's good.
Payal, I am now your customer for the foreseeable future.
Thank you.
Tell us the price of this bowl.
If you opt for a weekly subscription,
- it will cost Rs. 180 per day. - Wow! That's nothing.
The average price on Swiggy and Zomato is Rs. 350 to 400
for a good salad.
Tell us your business model.
The total of weekly and monthly subscribers is 50 out of 80.
- Wow. - Okay.
- Wow! - And Swiggy and Zomato
is 30 sometimes and 35 at times. It keeps fluctuating.
That is our bifurcation, 64% and 36%.
What is the combined revenue per month?
It's Rs. 4.42 lakhs per month.
Okay. And the margin must be quite good.
Yes. So, gross is 64% and the net is 47%.
- Could you tell me what is your business plan? - So...
Let's start with the radius.
The Simply Salad covers 35% to 40% of the market in Ahmedabad as of now
and we wish to set up two outlets.
One in the Gota area and the other in Shahibaug.
Then we can cover the whole of Ahmedabad
where there is the target audience for salads.
- Where... - Your business will grow 3x.
- Right? Continue. - Yes.
Our marketing cost so far has been zero.
I used to tell mom to give me about Rs. 5000 a month
which I could use towards promotion on Instagram to get orders.
So, your business is growing organically.
Organically, yes.
- Word of mouth. - Yes.
Vineeta.
[intense music playing]
Look, if we were to define your business,
then this is primarily
a salad meal service. Right?
Subscription is just a fancy name given to it nowadays.
- But it's a light meal service, okay? - Yes.
You get some income through Swiggy and Zomato.
I want to hear from both of you what you want in the end.
- I will answer this in a slightly different way. - Okay, sure.
If someone asks me what my investment or saving is,
I say it is my son.
Yes, lovely.
My end goal is for him to do well for himself.
That's where I wish to...
What is your definition of doing well?
How much money do you wish to earn?
I want that within 5 years,
we should be earning around Rs. 50 to 60 lakhs per month.
- Rs. 6 crore sales in a year. - Yes.
I want this to be India's top-rated salad outlet as well as chain.
I think you wish to expand this and take it to the next level.
You have to hire a business manager for it.
- You'll have to give him a shareholding... - Yes.
- so that he has a vested interest to grow the company. - Yes.
- Right? - Yes.
- It can grow into a big business. - Hmm.
So, Vineeta and I would like to give you an offer.
This is a miracle!
Someone who loves Butter Chicken is investing in a salad company!
It indeed is a miracle!
It's business after all!
[unanimous laughter]
Payal, what according to you,
is an entrepreneur's most important quality?
Consistency,
- sheer perseverance no matter what... - Absolutely.
never give up.
That's called grit.
Studies show that mothers are strong and full of grit.
And the grit single mothers possess is on another level.
And I think you're thinking small, Rs. 5 to 6 crores.
- This could become a really big business. - It can.
Aman and I would like to make an offer.
- Exactly what you asked for. - Okay.
Rs. 30 lakhs for 10% equity.
That's the biggest smile.
I just...
Grit, gratitude and Gupta!
- Okay, you have one offer. - Yes.
Namita and Anupam, what have you thought?
- I am out. - Okay.
But I am ecstatic that you got such a great offer
because you're in need of branding and consumer insight.
And you can't get better investors than Vineeta and Aman as a combo,
because you deserve it.
- Thank you, ma'am. - Thank you so much.
Let me share my view.
- It's slightly different. Slightly... - Yes.
- Not what you see on the internet or superficial. - Yes.
- Go a little deeper and study health and nutrition. - Okay.
Understand and evaluate it.
Go deep into it.
In future, you could provide complete meal services
based just on health and nutrition.
You told me about your dream.
You wish to make Rs. 5 to 6 crores in about 5 years.
I don't think you need investment for that.
Your current strategy got you here and it'll help you reach your goal.
[intense music playing]
When a person takes an investment,
the company's direction changes, no matter who he takes it from.
So, I am out today.
Um, but good luck to you
in whatever path you choose.
- Thank you, sir. - Thank you.
We let the businesses that come here know
that subscriptions don't work in India.
You're the first company that has said
that 60% of your business comes through subscriptions.
- Yes. - I think you should focus on that
because if you wish to scale up, you might just disrupt this.
I am out.
If they had not made you an offer, then I would have.
But I think this is a good offer
and they both are very capable of helping you.
Thanks for the recommendation.
Do you remember what Vineeta's two G's were?
Yes, grit and gratitude.
- The third G? - Mr. Gupta.
So let's just stop with all the lecturing then!
[laughs]
Lecturing!
Let's get down to business. Start? Do we have a deal?
- Yes. - Done deal.
[pleasant music playing]
[theme music playing]
[theme music fading]
Sharks, heart and lung diseases
are the top two killers not just in India, but all over the world.
Yes, true.
A hole in a child's heart,
issues in the heart valves of the elderly,
asthma, COPD,
in all these diseases, the heart and lung sounds are abnormal.
With the help of these sounds and symptoms,
doctors arrive at a diagnosis.
But it's not easy to hear these sounds.
Even today, these sounds have to be heard with the help
of a 200-year-old technology.
We're talking about a stethoscope.
[chuckles]
From toothpaste ads to clinics,
a doctor is identified with his stethoscope.
[laughs]
That's a good point!
That's funny.
A doctor isn't complete without a stethoscope.
Like 'Munna Bhai MBBS'.
Sharks, in the last 200 years,
technology has advanced from the huge gramophone
to tiny boAt ear pods.
But why is there no advancement in stethoscopes?
So, we're here with a long-awaited upgrade.
Presenting AyuSynk.
Wow.
This is a normal stethoscope.
We just need to remove the chest piece
and attach our device AyuSynk to it.
It transforms a normal stethoscope into a digital one in minutes.
Oh!
Our device has been granted a US patent.
to every corner of the world
and upgrading all normal stethoscopes to digital ones.
Our ask is Rs. 1 crore in exchange for 1.5% equity.
- Welcome to Shark Tank season 2. - Yes.
I'm really curious.
In the absence of physical contact,
how can you examine a patient in Dehradun while in Mumbai?
So, this is our device. It has two modes, heart and lung.
[chuckles]
Certainly.
You could've called a woman to listen to your heartbeat.
[chuckles]
Why are you making Peyush listen to it?
You will hear my heartbeat now. This is the normal mode.
- You'll also hear ambient noise. - Ambient noise will be heard.
[heart beating]
I can hear your heartbeat.
You can hear the heartbeat as well as the background noise.
- I'll activate the heart mode now. - Switch to heart mode.
[intense music playing]
Now, listen to it.
You won't hear the background noise anymore.
I can hear you, but this is louder.
[heart beating]
What about the lungs?
- I can hear you breathe. - Yes.
You can hear it with a normal stethoscope too.
- But this is clear. - Yes.
Suppose you live in the village and suffer from heart problems.
If you wish to consult a specialist,
we have an app through which
you can share these sounds with a specialist.
So, there's a recording mode too.
[music playing]
What's happening?
Why has his heart's electrical activity turned red?
- Red indicates that the recording has begun. - Recording mode.
Oh, I see.
It is equipped with Bluetooth that transfers all the data.
and that data is transferred to a city doctor through your app.
Yes.
He will analyse it and advise the doctor in the village.
- Yes. - That's how it happens.
- Do you have to place it in different positions? - Yes.
- In the positions that are demonstrated in the image. - Yes.
Wonderful.
[music playing]
There are 4 locations in the heart and 18 in the lungs.
- Oh. - So, they must be familiar with the sounds from all locations.
Doesn't this exist yet? Has nobody attempted it?
- Digital stethoscope already exists. - Okay.
But the difference is that the Indian context is different.
The context is different.
It is a heart after all.
In India, a doctor doesn't get ample time
- to examine a patient. - True.
This helps the doctor reduce the time taken for diagnosis.
There are two benefits. One is remote tele-auscultation.
Here's the recording of a 5-year-old with congenital heart disease.
[distorted heartbeat]
The heartbeat of a person with a hole in their heart
will sound like this.
So, your device guides the doctor.
It helps doctors
revise their decision based on these inputs.
Understood.
- Can you show us the product? - Sure.
[music playing]
What about the others?
How is the equity structure split?
43, 32, 20.
- Very good. - Nice.
We have a little over 1% for the mentor at IIT Mumbai.
Clarify something for me. I have a question.
For doctors in a full-fledged practice today,
where do they buy their stethoscopes from?
Do they buy it or get it as a gift from pharmaceutical companies?
Both, sir.
How many are bought and how many are received as gifts?
We don't have the data.
What's the market size for stethoscopes in India?
There are around 25 lakh doctors.
95,000 medical students graduate every year.
Tell me the value of the market size.
Yes, 25 lakhs multiplied by 5000.
- Come on, they don't buy it every year. - Yes.
Divided by 5.
They change it once in five years.
Okay, thank you.
So, around 250 crores.
What's the pricing? Not MRP, but the price to the customer.
12,000.
What's your making cost?
How many did you sell last month?
Around 7 crores.
- Okay. - What will be your net EBITDA?
18%.
- So, around 1.5 crores. - EBITDA.
Considering existing sales,
if we push it for a lower price
- then... Yes. - 1 crore.
I have a rapid-fire test. I will ask you 4 to 5 questions.
- First... - 4 to 5?
Just a minute!
[laughs]
Firstly, you have sold 5000 devices.
Who were the buyers?
90% of the sales are to telemedicine companies
- and 10% are to B2C doctors. - Okay.
When you sold it to B2C doctors, what was the feedback?
Initially, the feedback was not really great
because there were adoption changes.
We worked on it, and now people are giving
9 out of 10 for the heart zone and 7 out of 10 for the lungs zone.
- How many versions do you have? - Three.
Which version did the 5000 sales belong to?
Major and mid-versions.
- You will buy the raw material with the funds. - Correct.
This is not my specialisation.
So, I'm out.
[intense music playing]
Let me help you.
- That's the MRP. - What's your average selling price?
Normally, 13,000 or 14,000.
That's high too.
If you steer towards mass adoption,
then your product will be adopted quickly.
- Correct. - If a few doctors begin using it,
the others will follow suit.
We require funds for that, sir.
Yes, I got that. But steer towards that.
That is my advice. For this, I'm out.
You sure are innovating,
but this seems like a solution that's looking for a problem.
The market seems small to me.
I also believe that doctors are very resistant to change.
It takes a long time to change habits.
The person sitting next to me
is a medical dragon.
If there are any pitches related to the medical industry,
she doesn't even let me speak.
So, please speak to her. The goddess of pharma!
As she says...
You're so dramatic!
- Okay? - He's getting worse
I'm a dolphin most of the time.
Whenever I see a good healthcare deal,
the shark within me wakes up.
[scoffs]
- I'll make a solo deal. - Go ahead.
[intense music playing]
Because I need a higher stake and I'll tell you why.
There is a lot of work to do in three areas.
First, you have to reduce the manufacturing cost.
You have to reduce the pricing.
The second point is that you have to make a strong sales team,
business development team, and then of course,
thirdly, it requires a lot of education and awareness.
It is a very big market. You know that.
So, I'll offer you Rs. 50 lakhs for 4%.
And Rs. 50 lakhs in debt at 10% interest.
[intense music playing]
What have you decided? Are you making the deal or not?
Sharks, thank you for the offer.
We have a counteroffer.
For 3.5%.
[intense music playing]
Go ahead, Namita.
Okay, done.
- I like to keep my founders happy. - Thank you.
Congratulations, guys, and I think you've done a good job.
- Thank you. - Thank you.
'Let's get to the Shark Xperience.'
'Peyush, Rahul from New Delhi wants to know'
'that you give a lot of importance to technology.'
'According to you, what's the role of technology in business growth?'
In my opinion, technology plays a big role.