1 00:00:31,320 --> 00:00:32,320 Where's my camera? 2 00:00:32,320 --> 00:00:33,720 How do I know which camera is facing me? 3 00:00:33,800 --> 00:00:35,280 But you never need to look at the camera. 4 00:00:35,400 --> 00:00:38,200 - I'm just curious about its location. - Okay. 5 00:00:38,360 --> 00:00:39,720 Yes. Okay. 6 00:00:40,240 --> 00:00:43,880 Amit, if there's a bidding war, just stay out of it. 7 00:00:44,040 --> 00:00:46,640 [Sharks laugh] 8 00:00:47,120 --> 00:00:50,000 Which one's my camera? Flash the light. Thank you. 9 00:00:50,000 --> 00:00:51,040 Which one is mine? 10 00:00:51,160 --> 00:00:52,200 Yours isn't set up! 11 00:00:52,280 --> 00:00:53,800 [Sharks laugh] 12 00:00:53,960 --> 00:00:55,840 - Please start. - Good to go. Roll. 13 00:00:55,840 --> 00:00:58,120 [theme music playing] 14 00:01:16,400 --> 00:01:18,680 [theme music continues] 15 00:01:44,080 --> 00:01:47,200 [theme music fading] 16 00:01:48,600 --> 00:01:49,480 Sunny! 17 00:01:49,480 --> 00:01:52,000 - Do you know what grandma used to say when I was a kid? - What? 18 00:01:52,080 --> 00:01:55,920 "Sayyam, apply some multani mitti on your face to get rid of the tan." 19 00:01:56,800 --> 00:01:59,920 "Apply coconut oil on your hair. You'll get thick hair." 20 00:02:00,040 --> 00:02:01,600 These remedies are out of date. 21 00:02:01,680 --> 00:02:02,760 Doctors these days say, 22 00:02:02,840 --> 00:02:05,440 "Don't step out of the house without applying sunscreen." 23 00:02:06,480 --> 00:02:09,600 "Don't forget to apply a mask on your hair." 24 00:02:10,520 --> 00:02:12,920 Oh! So, grandma's remedies were for the heck of it! 25 00:02:13,040 --> 00:02:14,840 [Sharks laugh] 26 00:02:15,040 --> 00:02:16,600 Don't get emotional. 27 00:02:17,720 --> 00:02:18,840 Why don't we 28 00:02:19,160 --> 00:02:21,880 combine grandma's home remedies and the doctor's prescriptions 29 00:02:21,960 --> 00:02:23,200 to come up with a product? 30 00:02:23,360 --> 00:02:25,280 Sharks, introducing Ghar Soaps. 31 00:02:25,280 --> 00:02:27,400 [uplifting music playing] 32 00:02:36,880 --> 00:02:39,920 Sharks, Ghar Soaps is a unique skincare brand. 33 00:02:40,040 --> 00:02:42,320 It's a unique fusion of active chemicals 34 00:02:42,440 --> 00:02:44,040 like salicylic acid and niacinamide 35 00:02:48,600 --> 00:02:52,640 We offer products such as skincare, body care, hair care and others, 36 00:02:52,720 --> 00:02:56,080 which you can buy on our website as well as other online platforms. 37 00:02:56,560 --> 00:02:58,000 Sharks, our vision is 38 00:02:58,120 --> 00:03:01,960 to take the fusion of ancient Ayurveda and modern science 39 00:03:01,960 --> 00:03:03,800 - to the entire world. - Hmm. 40 00:03:14,400 --> 00:03:16,880 - Sorry! - [Sharks laugh] 41 00:03:16,960 --> 00:03:18,320 - What are you saying? - Sorry. 42 00:03:18,400 --> 00:03:20,240 - Joke... - There's a story behind it. 43 00:03:24,160 --> 00:03:27,080 Actually, we both are... 44 00:03:27,160 --> 00:03:28,400 - We're stepbrothers. - Yes. 45 00:03:28,760 --> 00:03:30,280 - Oh! - I see. 46 00:03:31,240 --> 00:03:33,880 We met almost 10 to 12 years ago. 47 00:03:34,000 --> 00:03:35,120 What are you saying? 48 00:03:35,200 --> 00:03:37,440 Sir, first... 49 00:03:38,160 --> 00:03:41,880 His mother passed away early. 50 00:03:42,120 --> 00:03:44,240 [sentimental music playing] 51 00:03:44,320 --> 00:03:46,640 His dad was my dad too. 52 00:03:46,720 --> 00:03:51,160 His dad married my mom. 53 00:03:52,160 --> 00:03:55,080 After around five years, even he passed away. 54 00:03:55,200 --> 00:03:56,080 Darn! 55 00:03:58,120 --> 00:03:59,800 My mom remarried. 56 00:03:59,880 --> 00:04:02,760 She married my current father, who is my stepdad. 57 00:04:02,880 --> 00:04:05,200 And they raised me. 58 00:04:06,840 --> 00:04:10,760 My dad's elder brother, that is my uncle, 59 00:04:10,880 --> 00:04:12,640 raised me along with my aunt. 60 00:04:12,880 --> 00:04:13,760 Okay. 61 00:04:14,040 --> 00:04:14,840 I see. 62 00:04:14,920 --> 00:04:17,760 They sent me to Hyderabad and Bengaluru for studies. 63 00:04:17,960 --> 00:04:20,960 - They supported me in Pune too. - Very nice. 64 00:04:20,960 --> 00:04:22,000 - They helped me settle down. - Very nice. 65 00:04:22,080 --> 00:04:24,960 We ran into each other in Pune one day. 66 00:04:25,040 --> 00:04:27,360 His mom and he had come there. 67 00:04:28,000 --> 00:04:31,280 We were attending a cousin's wedding. 68 00:04:31,360 --> 00:04:32,560 I liked Pune. 69 00:04:32,640 --> 00:04:34,680 I knew I could not clear twelfth grade. 70 00:04:34,800 --> 00:04:37,040 You knew you wouldn't clear the exams! 71 00:04:39,280 --> 00:04:41,440 - I'd come top of the class until eleventh grade. - Huh! 72 00:04:42,520 --> 00:04:44,960 I had to prepare for the IIT entrance test. 73 00:04:45,080 --> 00:04:46,880 I didn't want to do it. 74 00:04:47,000 --> 00:04:48,920 So, I deliberately fared poorly in the exams 75 00:04:48,920 --> 00:04:52,000 and told my family I wanted to do a digital marketing course in Pune 76 00:04:52,000 --> 00:04:53,240 and I was going for four months. 77 00:04:53,360 --> 00:04:54,960 What percentage did you score in eleventh grade? 78 00:04:54,960 --> 00:04:56,240 98%. 79 00:05:02,520 --> 00:05:06,320 No, sir. I was loving this. I knew I was made for it. 80 00:05:06,320 --> 00:05:10,400 All that aside, pursuing an education is a must. 81 00:05:10,400 --> 00:05:11,760 I'm talking about basic education. 82 00:05:21,400 --> 00:05:23,800 [intense music playing] 83 00:05:38,160 --> 00:05:42,840 My partner pulled a scam on me. 84 00:05:42,920 --> 00:05:44,560 - A scam! - He scammed you. 85 00:05:44,560 --> 00:05:46,200 Sir, we started the business together. 86 00:05:46,280 --> 00:05:49,240 In six months, we made 1 million dollars. 87 00:05:49,240 --> 00:05:50,120 Well done. 88 00:05:51,600 --> 00:05:52,960 Tell us about the scam. 89 00:05:53,040 --> 00:05:55,840 I was underage. So, I was using my mother's bank account. 90 00:05:55,920 --> 00:05:58,400 The taxes and transaction fees in India are high. 91 00:05:58,480 --> 00:05:59,600 My partner was in the US. 92 00:05:59,680 --> 00:06:02,000 I transferred all the money into his account. 93 00:06:02,160 --> 00:06:03,400 Tsk! 94 00:06:04,880 --> 00:06:06,440 But I had made good connections. 95 00:06:06,520 --> 00:06:07,680 I started from scratch again. 96 00:06:07,800 --> 00:06:10,920 I started drawing a monthly salary this time around. 97 00:06:11,080 --> 00:06:12,720 I made the same mistake. 98 00:06:12,800 --> 00:06:14,640 I trusted my partner and was cheated again. 99 00:06:14,800 --> 00:06:18,000 One mistake makes a person extra cautious in the future. 100 00:06:18,920 --> 00:06:20,720 He was 18 years old. 101 00:06:21,880 --> 00:06:23,800 - What happened after? - I started a services business. 102 00:06:23,920 --> 00:06:26,160 For those into drop shipping, they need a website. 103 00:06:26,240 --> 00:06:28,400 They have to do email as well as text marketing. 104 00:06:28,480 --> 00:06:29,400 And also the shipping thing. 105 00:06:29,400 --> 00:06:32,000 It takes 30 days to ship from China to the US. 106 00:06:32,080 --> 00:06:33,960 I used to do it in seven days. 107 00:06:35,080 --> 00:06:36,400 I was stable in that business. 108 00:06:36,640 --> 00:06:38,240 I did that for about two years. 109 00:06:38,360 --> 00:06:40,120 It became very competitive after that. 110 00:06:40,120 --> 00:06:42,640 So, I did away with the fulfilment part, 111 00:06:42,720 --> 00:06:44,160 and I am only providing services. 112 00:06:44,240 --> 00:06:46,120 Tell us about Ghar Soaps. 113 00:06:46,240 --> 00:06:48,520 When did you start this and why? 114 00:06:48,520 --> 00:06:52,040 A friend and neighbour gifted some soaps to me. 115 00:06:52,120 --> 00:06:55,760 We were impressed with the quality of her soaps. 116 00:06:55,840 --> 00:06:58,880 We knew there was a big market for soaps. 117 00:06:58,960 --> 00:07:00,720 That's how Ghar Soaps came into being. 118 00:07:00,960 --> 00:07:03,320 [upbeat music playing] 119 00:07:03,720 --> 00:07:06,360 We designed the website in a day and went live the next day. 120 00:07:09,320 --> 00:07:11,800 - Right. - You need to figure out the factory, production and others. 121 00:07:11,880 --> 00:07:14,760 We took a website and pictures and simply ran ads. 122 00:07:14,840 --> 00:07:17,200 - You started a website with their inventory. - Yes. 123 00:07:17,280 --> 00:07:18,040 That's what he did. 124 00:07:18,120 --> 00:07:21,080 What are your sales per month? 125 00:07:21,400 --> 00:07:23,920 As of this month, we are crossing Rs. 1 crore. 126 00:07:24,000 --> 00:07:26,160 - Wow! - Huh! Rs. 1 crore per month! 127 00:07:26,280 --> 00:07:27,840 - Yes, this month. - This month. 128 00:07:27,960 --> 00:07:28,760 Wow! 129 00:07:43,920 --> 00:07:45,200 Yes, it's profitable. 130 00:07:45,320 --> 00:07:47,000 How much are you left with out of Rs. 1 crore? 131 00:07:47,120 --> 00:07:49,800 - Rs. 15 lakhs. - You'll make a profit of Rs. 15 lakhs. 132 00:07:49,960 --> 00:07:51,320 How much do you spend on marketing? 133 00:07:51,400 --> 00:07:53,520 25%, that's Rs. 25 lakhs. 134 00:07:53,640 --> 00:07:54,960 What are your marketing streams? 135 00:07:55,040 --> 00:07:58,080 70% performance marketing and 30% influencer marketing. 136 00:07:58,160 --> 00:08:00,120 What is your equity split? 137 00:08:00,120 --> 00:08:00,960 It's 50% each. 138 00:08:02,920 --> 00:08:06,280 - Could you show us your products if possible? - Yes, sure. 139 00:08:06,520 --> 00:08:08,800 [uplifting music playing] 140 00:08:14,440 --> 00:08:16,600 - Wow. Smells good. - This is an ice roller. 141 00:08:16,920 --> 00:08:18,520 - What's this? - This is a coffee ice roller. 142 00:08:18,920 --> 00:08:20,560 - You can apply it to your face. - Oh, nice. 143 00:08:23,800 --> 00:08:25,560 There's a simplicity in your brand 144 00:08:25,640 --> 00:08:28,200 as is the minimalistic way of life. 145 00:08:28,400 --> 00:08:30,000 Your products are good. 146 00:08:30,680 --> 00:08:32,400 I've made my decision. 147 00:08:34,160 --> 00:08:37,240 Your story is very heart-touching. 148 00:08:43,120 --> 00:08:44,560 But I'd like to say 149 00:08:55,440 --> 00:08:56,800 Tell me about the product in depth. 150 00:08:56,880 --> 00:09:00,600 I still don't know what research went into making the product. 151 00:09:00,680 --> 00:09:03,800 We don't know the science behind it, but I know what is required. 152 00:09:03,880 --> 00:09:06,560 We used to order all the products in the market, 153 00:09:06,640 --> 00:09:08,360 be it US or India. 154 00:09:08,440 --> 00:09:11,560 I mean to say, we used to find gaps to see what we could add. 155 00:09:11,680 --> 00:09:13,800 It takes manufacturers months to build a product. 156 00:09:13,920 --> 00:09:16,840 They used to send samples, and they got rejected every time. 157 00:09:17,080 --> 00:09:19,400 We'd launch the final product after getting multiple approvals. 158 00:09:19,480 --> 00:09:21,880 You have still not answered Amit's question. 159 00:09:21,960 --> 00:09:24,040 [intense music playing] 160 00:09:24,280 --> 00:09:26,720 How do you know there's a gap? 161 00:09:26,840 --> 00:09:31,440 First, we order products from inspirational brands in the US. 162 00:09:31,560 --> 00:09:33,040 And then we see what's happening there. 163 00:09:33,120 --> 00:09:34,440 May I ask a question? 164 00:09:34,440 --> 00:09:38,560 Is the girl who gifted the soap to you as a present still involved? 165 00:09:38,640 --> 00:09:39,880 Does she give you ideas? 166 00:09:39,960 --> 00:09:41,160 - She's the manufacturer. - She's the manufacturer. 167 00:09:41,240 --> 00:09:42,680 - We share a good bond. - Oh, she's the manufacturer. 168 00:09:42,800 --> 00:09:45,480 Now I am beginning to understand things. 169 00:09:47,720 --> 00:09:50,120 I really loved how you two bumped into each other one day. 170 00:09:50,200 --> 00:09:52,760 You've become a strong digital marketer at the age of 21. 171 00:09:52,840 --> 00:09:54,040 It's a very rare skill. 172 00:09:54,280 --> 00:09:55,440 I really liked it. 173 00:09:55,520 --> 00:09:58,880 The product you're pitching is Ghar Soaps. 174 00:10:00,840 --> 00:10:04,280 I still haven't understood your product in depth. 175 00:10:04,360 --> 00:10:06,800 [intense music playing] 176 00:10:06,880 --> 00:10:09,080 I haven't heard anything about science or doctors 177 00:10:09,160 --> 00:10:12,760 or the significance of Ayurveda in all of this. 178 00:10:13,960 --> 00:10:16,000 I'm out for this reason. 179 00:10:16,080 --> 00:10:18,240 But I wish you all the best and I know you'll make it big. 180 00:10:19,400 --> 00:10:22,280 - Okay. Let's get back to your business. - Yes, sir. 181 00:10:31,080 --> 00:10:32,560 - This is crazy. - From your website... 182 00:10:32,560 --> 00:10:34,440 They're super digital marketers. 183 00:10:34,680 --> 00:10:35,960 I see that. 184 00:10:36,040 --> 00:10:38,680 - We partnered with Amazon quite late. - When? 185 00:10:38,760 --> 00:10:39,720 - Six months ago. - Six months. 186 00:10:39,800 --> 00:10:41,520 - What about Flipkart? - At the same time. 187 00:10:41,600 --> 00:10:43,360 - Six months. We just started. - Okay, you started now. 188 00:10:43,480 --> 00:10:44,360 Not on Nykaa? 189 00:10:44,480 --> 00:10:45,800 We haven't been able to. 190 00:10:45,800 --> 00:10:47,560 - Didn't you get the approval? - We did. 191 00:10:47,880 --> 00:10:49,240 We're yet to receive purchase orders. 192 00:10:49,320 --> 00:10:51,440 The 30% you're making from marketplaces 193 00:10:51,560 --> 00:10:52,720 will double with Nykaa. 194 00:10:53,600 --> 00:10:55,840 Making a profit in a business like this is tough. 195 00:10:55,920 --> 00:10:58,600 - Ask any brand... - Yes, sir. 196 00:10:58,680 --> 00:11:01,520 - Everyone talks just about burn. - Yes. 197 00:11:03,520 --> 00:11:06,240 How can you make a profit in this business? It's astonishing, 198 00:11:06,320 --> 00:11:09,200 For now, what we're doing is focusing on an accessory 199 00:11:09,400 --> 00:11:10,360 and scaling it. 200 00:11:10,360 --> 00:11:11,800 And selling the rest as an add-on. 201 00:11:11,920 --> 00:11:13,440 We have a higher margin in accessorising. 202 00:11:13,520 --> 00:11:15,080 Which accessories? 203 00:11:15,160 --> 00:11:18,280 Like ice roller with the eye patch, which is a new innovation. 204 00:11:18,360 --> 00:11:20,120 - This is an innovation. - Yes, it's reusable. 205 00:11:20,200 --> 00:11:21,920 Yes, sir. No one else in India sells it. 206 00:11:24,560 --> 00:11:28,120 I want to know your goal. What is your vision? 207 00:11:28,200 --> 00:11:29,880 We're introducing technology. 208 00:11:29,960 --> 00:11:33,240 A face recognition app that will detect skin issues. 209 00:11:33,320 --> 00:11:37,080 Acne among other issues. And it will suggest a combo. 210 00:11:37,160 --> 00:11:38,480 Such apps already exist. 211 00:11:38,560 --> 00:11:40,360 [intense music playing] 212 00:11:41,280 --> 00:11:42,800 You have CureSkin. 213 00:11:42,880 --> 00:11:45,520 Sir, CureSkin has not covered North India. 214 00:11:45,600 --> 00:11:47,360 Their ads only run in the south. 215 00:11:47,440 --> 00:11:48,400 Alright. 216 00:11:49,720 --> 00:11:51,880 How do you know so much, brother? 217 00:11:51,960 --> 00:11:53,360 It's what he does all day! 218 00:11:53,720 --> 00:11:55,040 What do you do? 219 00:11:55,120 --> 00:11:56,320 His role is to offer support. 220 00:11:56,400 --> 00:11:59,240 I oversee accounts, support and operations. 221 00:12:00,040 --> 00:12:01,920 Sir, we've done the planning. 222 00:12:02,000 --> 00:12:05,160 The biggest task is handling the supply chain. 223 00:12:05,240 --> 00:12:08,200 I can do the strategising, but he oversees execution. 224 00:12:08,320 --> 00:12:10,400 It's good that you appreciate each other's work. 225 00:12:10,520 --> 00:12:11,360 Thank you, sir. 226 00:12:12,720 --> 00:12:14,080 Can I ask a personal question? 227 00:12:14,160 --> 00:12:16,760 You're stepbrothers and met after so many years. 228 00:12:16,880 --> 00:12:18,560 Did you like each other instantly, 229 00:12:18,640 --> 00:12:21,560 or was there a lot of friction in the beginning? 230 00:12:21,640 --> 00:12:23,760 We've never fought to date. 231 00:12:23,880 --> 00:12:26,000 [sentimental music playing] 232 00:12:26,120 --> 00:12:28,000 What do you like about each other? 233 00:12:28,080 --> 00:12:29,760 He is great at comprehending things. 234 00:12:29,840 --> 00:12:31,520 Okay. What do you like about him? 235 00:12:31,600 --> 00:12:33,640 If I tell him we need to introduce a product, 236 00:12:33,880 --> 00:12:35,320 he will go the whole nine yards. 237 00:12:35,400 --> 00:12:37,440 - Oh, wow! - He's tenacious. 238 00:12:39,160 --> 00:12:42,200 What I like is you're a great hustler. 239 00:12:42,280 --> 00:12:46,120 Building a 12-crore business just digitally is not easy. 240 00:12:47,720 --> 00:12:50,360 But to make this an investable business, 241 00:12:50,560 --> 00:12:52,160 you'll need to work on 242 00:12:52,240 --> 00:12:55,720 defining a purpose and a vision, as to what you really want. 243 00:12:56,480 --> 00:12:58,920 You might want to focus on a product and make something for acne, 244 00:12:58,920 --> 00:12:59,880 or something else. 245 00:12:59,960 --> 00:13:01,160 That's where I see a gap. 246 00:13:09,360 --> 00:13:10,560 Yes, we'll both come on board. 247 00:13:21,480 --> 00:13:23,720 I think if you focus on building a brand... 248 00:13:23,840 --> 00:13:25,920 He mentioned you should focus on a product. 249 00:13:26,000 --> 00:13:27,400 I say focus on both. 250 00:13:27,520 --> 00:13:30,200 You're not only a product company, you also have to become a brand. 251 00:13:31,760 --> 00:13:33,280 I'll make you an individual offer. 252 00:13:34,080 --> 00:13:35,520 [Namita chuckles] 253 00:13:36,720 --> 00:13:38,120 You've just partnered with Amazon and Flipkart, 254 00:13:38,200 --> 00:13:39,480 but I am a king at it! 255 00:13:52,920 --> 00:13:56,840 Decide whether you need help with Amazon or tech. 256 00:13:56,920 --> 00:13:58,840 [intense music playing] 257 00:13:58,960 --> 00:14:01,320 If you wish to make technologies like CureSkin, 258 00:14:01,400 --> 00:14:02,400 I can help you a lot. 259 00:14:02,520 --> 00:14:04,080 I know it in depth. 260 00:14:04,320 --> 00:14:05,760 Besides, our business is technology-based. 261 00:14:05,920 --> 00:14:07,960 [intense music playing] 262 00:14:09,080 --> 00:14:12,200 Many companies that he started must have closed down. 263 00:14:15,320 --> 00:14:17,240 He doesn't know what he's saying. 264 00:14:19,120 --> 00:14:20,600 Think and let us know your answer. 265 00:14:20,600 --> 00:14:21,760 He's just trying to counter me. 266 00:14:21,880 --> 00:14:24,400 - Yes, he is all-knowing. We know nothing! - Okay? You... 267 00:14:24,480 --> 00:14:27,640 - We're naive and ignorant. - You admitted it yourself! 268 00:14:27,720 --> 00:14:30,880 - Sir knows everything. We know nothing. - Of course! 269 00:14:31,080 --> 00:14:33,200 You're bound to realise it if you talk rubbish. 270 00:14:35,040 --> 00:14:37,400 - I'm caught in the crossfire. - They're at it again. 271 00:14:37,480 --> 00:14:38,880 - Please take a moment to decide. - Crossfire... 272 00:14:39,000 --> 00:14:40,960 [intense music playing] 273 00:15:02,160 --> 00:15:03,800 Sharks, we have a counteroffer. 274 00:15:03,960 --> 00:15:04,880 Oh, my! 275 00:15:15,960 --> 00:15:17,440 Didn't you as for Rs. 60 lakhs earlier? 276 00:15:17,520 --> 00:15:18,800 Sir, we raised the equity also. 277 00:15:19,400 --> 00:15:21,960 What have you... [laughs] 278 00:15:22,040 --> 00:15:23,240 Let's try to understand this. 279 00:15:25,520 --> 00:15:30,120 What matters to you? Percentage, valuation or amount? 280 00:15:30,400 --> 00:15:31,280 - Valuation. - Valuation. 281 00:15:31,360 --> 00:15:33,760 Rs 20 crores is the maximum valuation you can go to. 282 00:15:33,760 --> 00:15:34,880 - Yes, sir. - Yes. 283 00:15:36,200 --> 00:15:39,080 - Your counteroffer is a bit too high. - Yes. 284 00:15:39,240 --> 00:15:41,480 We reduced the valuation by Rs. 10 crores. 285 00:15:41,680 --> 00:15:42,520 No. 286 00:15:44,480 --> 00:15:46,800 - The net worth of your business is worth Rs. 15 crores. - Hmm. 287 00:15:46,920 --> 00:15:48,720 - 12. - Rs. 15 crores. 12 crores. 288 00:15:48,840 --> 00:15:50,000 What is next year's projected sale? 289 00:15:50,080 --> 00:15:52,200 By the end of this year, we'll do Rs. 12 to 15 crores. 290 00:15:52,280 --> 00:15:54,000 If you guys come on board, then maybe more. 291 00:15:54,080 --> 00:15:55,560 Okay, I think it's fair. 292 00:15:55,640 --> 00:15:58,600 One-time valuation is not bad, but I can give you Rs. 15 crores. 293 00:15:58,880 --> 00:16:00,920 [intense music playing] 294 00:16:14,080 --> 00:16:15,240 You can take your time to think 295 00:16:15,240 --> 00:16:17,040 because you have the same offer from both. 296 00:16:18,360 --> 00:16:21,240 If you step out to decide, I'll revoke my offer. 297 00:16:22,200 --> 00:16:23,320 Oh! 298 00:16:23,920 --> 00:16:26,720 [intense music playing] 299 00:16:27,960 --> 00:16:29,440 - [indistinct murmur] - It's up to you. 300 00:16:29,520 --> 00:16:31,080 [indistinct murmur] 301 00:16:45,000 --> 00:16:46,920 Good job, man. Let's build this. 302 00:16:47,440 --> 00:16:48,840 The skincare thug! 303 00:16:48,960 --> 00:16:51,680 [euphoric music playing] 304 00:17:39,400 --> 00:17:41,680 [bubbles rising] 305 00:17:42,360 --> 00:17:44,880 [theme music playing] 306 00:17:53,320 --> 00:17:56,880 [theme music fading] 307 00:17:58,120 --> 00:17:59,040 Congratulations! 308 00:17:59,200 --> 00:18:01,560 Get ready to welcome a new member to the family! 309 00:18:01,720 --> 00:18:02,640 Oh, my! 310 00:18:03,240 --> 00:18:05,400 Sharks, when we hear this news, 311 00:18:05,520 --> 00:18:08,240 there's an air of happiness in the house. 312 00:18:09,000 --> 00:18:11,760 The mother is ecstatic, but at the same time, 313 00:18:11,840 --> 00:18:15,880 she is equally stressed and anxious about the baby in her womb. 314 00:18:16,560 --> 00:18:19,080 You never know when this joy might turn into sadness. 315 00:18:20,560 --> 00:18:23,080 Sharks, even today, in India, 316 00:18:23,320 --> 00:18:27,320 113 mothers die per 1 lakh live births 317 00:18:32,800 --> 00:18:34,600 If I only talk about babies, 318 00:18:42,560 --> 00:18:46,200 Sharks, during the last trimester as well as labour, 319 00:18:47,000 --> 00:18:50,040 if the mothers and the unborn babies are regularly monitored 320 00:18:50,120 --> 00:18:53,000 and the right decision is made at the right time, 321 00:18:53,680 --> 00:18:58,400 then more than 80% of deaths and complications can be prevented. 322 00:18:59,600 --> 00:19:02,120 That is why I bring to you Janitri. 323 00:19:02,280 --> 00:19:04,800 [buoyant music playing] 324 00:19:10,920 --> 00:19:12,440 And I am the founder of Janitri. 325 00:19:13,680 --> 00:19:15,200 At Janitri, we make 326 00:19:23,640 --> 00:19:26,760 and continuously transfer data to the doctor's mobile app 327 00:19:26,840 --> 00:19:29,760 helping the doctor make the right decision at the right time 328 00:19:29,840 --> 00:19:32,280 in preventing any complications. 329 00:19:34,000 --> 00:19:37,720 Our vision is to ensure that no mother or baby, 330 00:19:37,800 --> 00:19:41,400 whether during pregnancy, delivery or post delivery, 331 00:19:41,480 --> 00:19:45,080 succumbs to death or faces any lifelong complications. 332 00:19:46,520 --> 00:19:48,080 So, Sharks, 333 00:19:55,400 --> 00:19:59,240 Are you ready to take Janitri to every mother and baby? 334 00:20:01,320 --> 00:20:04,880 - Arun, welcome to Shark Tank. - Thank you. 335 00:20:04,960 --> 00:20:08,200 This product is very close to my heart. 336 00:20:18,720 --> 00:20:21,320 But before we delve into the product, 337 00:20:21,400 --> 00:20:23,320 I want to know your background. 338 00:20:23,400 --> 00:20:24,840 I am from Alwar, Rajasthan. 339 00:20:24,920 --> 00:20:27,360 - I studied there. - Okay. 340 00:20:27,360 --> 00:20:29,520 After that, I got a chance 341 00:20:29,600 --> 00:20:32,040 to pursue BTech Electronics from VIT, Vellore. 342 00:20:32,120 --> 00:20:33,360 - Then I came to the south. - Very nice. 343 00:20:33,480 --> 00:20:34,920 I had a dream 344 00:20:35,000 --> 00:20:37,520 to solve the grassroot level problems in healthcare 345 00:20:37,640 --> 00:20:39,320 through technology. 346 00:20:50,720 --> 00:20:53,640 I'm sure you know that the infant mortality rate... 347 00:20:53,720 --> 00:20:55,120 - Huge! - And maternal mortality rate 348 00:20:55,200 --> 00:20:57,280 - in India were high 20 years ago. - Yes. 349 00:20:57,480 --> 00:20:58,920 I heard my grandmother's story. 350 00:20:59,000 --> 00:21:00,640 - They were six siblings. - Yes. 351 00:21:00,720 --> 00:21:04,160 She mentioned one of her siblings died within a year of birth. 352 00:21:04,280 --> 00:21:05,840 There were trigger points. 353 00:21:06,960 --> 00:21:10,800 The dots connected when I did my BTech in Electronics. 354 00:21:10,880 --> 00:21:14,400 Then I deduced that this was a huge problem globally, 355 00:21:14,760 --> 00:21:16,680 and that technology hasn't yet countered this. 356 00:21:18,160 --> 00:21:22,320 I took up a job for two years to survive. 357 00:21:22,400 --> 00:21:23,440 Which job? 358 00:21:23,520 --> 00:21:25,560 Sir, I worked as a patent analyst, 359 00:21:25,640 --> 00:21:28,040 an intellectual property analyst in the healthcare domain. 360 00:21:28,120 --> 00:21:29,040 Very good. 361 00:21:29,120 --> 00:21:33,080 I began meeting healthcare stakeholders in my free time. 362 00:21:33,160 --> 00:21:35,400 I began attending healthcare hackathons. 363 00:21:35,480 --> 00:21:39,040 I visited over 100 hospitals across India. 364 00:21:39,960 --> 00:21:43,960 I witnessed live deliveries and C-section deliveries, 365 00:21:44,040 --> 00:21:47,320 and understood the process of mother and child healthcare in detail. 366 00:21:48,160 --> 00:21:50,680 Let's get to the product. What is it? 367 00:21:50,760 --> 00:21:53,280 Janitri offers three products. 368 00:21:54,520 --> 00:21:56,480 Keyar patch, 369 00:21:56,600 --> 00:21:58,360 Daksh, which is a software, 370 00:21:58,440 --> 00:21:59,520 and Navam wearable 371 00:21:59,600 --> 00:22:02,840 which is used to monitor fetal movement. 372 00:22:02,960 --> 00:22:06,000 It's in the prototype stage. It hasn't been launched yet. 373 00:22:06,120 --> 00:22:09,240 - Where do you wear Navam? - On the wrist. 374 00:22:09,360 --> 00:22:11,440 Can fetal movement be tracked from here? 375 00:22:24,160 --> 00:22:28,120 Keyar patch is a patch made of plastic and silicone 376 00:22:28,200 --> 00:22:30,400 that can be attached to the stomach of a pregnant woman. 377 00:22:46,200 --> 00:22:47,680 If you permit, may I play a video? 378 00:22:47,760 --> 00:22:49,400 - Sure. - Please do. 379 00:22:50,200 --> 00:22:51,800 This is the patch. 380 00:22:51,880 --> 00:22:54,960 You have here consumables, cables and an Android phone. 381 00:22:55,040 --> 00:22:58,320 When you open the consumables, it will contain five electrodes, 382 00:22:59,080 --> 00:23:01,040 one double-sided medical tape, 383 00:23:02,360 --> 00:23:04,680 and a skin exfoliation tape. 384 00:23:05,520 --> 00:23:07,640 Peel off one end of the double-sided tape 385 00:23:07,640 --> 00:23:08,600 and stick it on the patch. 386 00:23:08,720 --> 00:23:10,800 Repeat on the other end and stick it on the skin. 387 00:23:12,320 --> 00:23:15,200 Input the patient's data in the mobile application. 388 00:23:15,280 --> 00:23:17,080 Then simply connect the cables to the device 389 00:23:17,080 --> 00:23:20,080 as well as the phone, and it starts capturing readings. 390 00:23:21,200 --> 00:23:24,800 Do you use this for three months which is the last trimester? 391 00:23:24,880 --> 00:23:27,040 Or just for two days before delivery? 392 00:23:27,120 --> 00:23:28,200 Both. 393 00:23:28,760 --> 00:23:31,640 During delivery, it stays on continuously until the baby is born. 394 00:23:31,720 --> 00:23:33,000 In the last trimester, 395 00:23:33,120 --> 00:23:34,920 when the pregnant woman visits the hospital 396 00:23:35,040 --> 00:23:37,120 or the doctor as an outpatient, 397 00:23:44,400 --> 00:23:45,960 - Yes, that was my question. - Yes. 398 00:23:46,760 --> 00:23:48,320 When a woman goes into labour, 399 00:23:48,320 --> 00:23:52,080 it wouldn't strike her that she has to wear this device. 400 00:24:02,200 --> 00:24:04,360 Is there no system in existence for all of this? 401 00:24:04,440 --> 00:24:08,480 A device has existed in the market for the last 30 to 40 years 402 00:24:08,600 --> 00:24:10,600 known as the cardiotocography machine. 403 00:24:10,680 --> 00:24:13,200 In simple terms, it's a fetal monitor. 404 00:24:13,280 --> 00:24:15,120 It has two probes. 405 00:24:15,200 --> 00:24:18,520 After identifying the positions of the unborn baby, 406 00:24:18,600 --> 00:24:20,520 you then attach the probes to the belt. 407 00:24:20,600 --> 00:24:24,040 You need to relocate the probes from time to time 408 00:24:24,120 --> 00:24:25,040 until she delivers. 409 00:24:25,120 --> 00:24:26,880 It's a lot of work for a nurse. 410 00:24:26,960 --> 00:24:30,760 The nurse has to adjust the probe every 30 minutes to an hour. 411 00:24:31,560 --> 00:24:35,120 Those probes are connected with wires to a big box, 412 00:24:35,200 --> 00:24:36,240 which isn't even digital. 413 00:24:36,320 --> 00:24:40,040 It produces a graph in a thermal print. 414 00:24:40,880 --> 00:24:42,880 Also, the doctor has to visit 415 00:24:42,960 --> 00:24:45,680 that particular room to read the print 416 00:24:45,760 --> 00:24:48,000 - because the data is printed using a thermal printer. - Yes. 417 00:24:48,080 --> 00:24:49,880 In this case, the data is transferred to the doctor's phone 418 00:24:49,880 --> 00:24:52,960 whether he's in a conference or the OPD. 419 00:24:53,040 --> 00:24:54,960 They can take a decision regardless of where they are. 420 00:24:55,800 --> 00:24:57,280 Another thing. 421 00:24:57,560 --> 00:24:59,120 Because the data is digital, 422 00:24:59,240 --> 00:25:02,360 the device uses additional algorithms 423 00:25:02,440 --> 00:25:06,400 to automatically interpret data from the graph, 424 00:25:06,480 --> 00:25:08,520 something that doctors did in their minds until now. 425 00:25:08,600 --> 00:25:10,200 The decision used to vary 426 00:25:10,280 --> 00:25:12,440 because of the experience from doctor to doctor. 427 00:25:12,520 --> 00:25:15,640 What we have done is extracted the parameters from the graph itself 428 00:25:15,720 --> 00:25:17,000 so it's easier to take a decision. 429 00:25:18,200 --> 00:25:19,240 Is your technology patented? 430 00:25:26,840 --> 00:25:29,680 No, sir. It has been done by a couple of other start-ups 431 00:25:29,680 --> 00:25:31,320 who are in a similar field. 432 00:25:32,040 --> 00:25:34,080 What is the cost difference between traditional devices 433 00:25:34,160 --> 00:25:36,240 in the market as compared to yours? 434 00:25:36,320 --> 00:25:38,640 Sir, the traditional devices sold by big brands 435 00:25:38,720 --> 00:25:41,800 like GE, Philips and others start at Rs. 1.5 to 2 lakhs. 436 00:25:42,000 --> 00:25:42,840 Alright. 437 00:25:42,920 --> 00:25:45,640 The average brands start at Rs. 1 lakh. 438 00:25:56,800 --> 00:26:00,320 Our sales for FY 21-22 were Rs. 1.03 crores. 439 00:26:01,440 --> 00:26:03,920 - What was it last month? - Rs. 10 lakhs. 440 00:26:04,000 --> 00:26:05,600 What is your monthly burn? 441 00:26:05,680 --> 00:26:07,120 Sir, around Rs. 15 lakhs. 442 00:26:07,200 --> 00:26:08,760 When did you start sales? 443 00:26:08,840 --> 00:26:10,760 It took us five years for R&D, 444 00:26:10,840 --> 00:26:13,240 clinical trials, improvements and regulatory compliance. 445 00:26:13,360 --> 00:26:15,560 We finally started sales in March 2021. 446 00:26:21,240 --> 00:26:23,640 How did you manage funds? Who funded this? 447 00:26:35,440 --> 00:26:37,960 We have raised almost Rs. 7 crores until now. 448 00:26:38,040 --> 00:26:39,000 Wow! 449 00:26:39,200 --> 00:26:41,840 50% grants and 50% is equity. 450 00:26:42,280 --> 00:26:43,560 At what valuation? 451 00:26:43,640 --> 00:26:47,960 In the seed round that took place in February 2020, 452 00:27:07,360 --> 00:27:08,160 Wow! 453 00:27:08,240 --> 00:27:10,440 There must be around 200 to 300 hospitals, 454 00:27:10,520 --> 00:27:14,440 but there are a lot of nursing homes in our country. 455 00:27:14,560 --> 00:27:18,360 Even today, pregnant women prefer going to nursing homes. 456 00:27:19,160 --> 00:27:23,280 - This category is your customer base. - Right. 457 00:27:23,360 --> 00:27:24,600 Because it's B2B. 458 00:27:24,720 --> 00:27:26,600 I am the queen of this category. 459 00:27:26,720 --> 00:27:29,320 - You won't get a better partner than me. - Right. 460 00:27:30,040 --> 00:27:33,280 Your previous round was at a valuation of Rs. 15 crores. 461 00:27:33,360 --> 00:27:38,200 So, I will offer you Rs. 75 lakhs for 5% 462 00:27:38,640 --> 00:27:41,640 at a valuation of Rs. 15 crores. 463 00:27:43,560 --> 00:27:45,120 And Rs. 25 lakhs debt. 464 00:27:56,400 --> 00:27:58,720 We're raising a pre series A round funding. 465 00:27:58,800 --> 00:28:01,080 We are raising Rs. 5 crores, 466 00:28:01,200 --> 00:28:03,360 and we have a commitment of Rs. 2.5 crores at that valuation. 467 00:28:03,440 --> 00:28:05,600 [tense music playing] 468 00:28:05,680 --> 00:28:09,080 'Pre series A is an early stage round' 469 00:28:09,360 --> 00:28:13,000 'which is a mid-round between seed and series A.' 470 00:28:13,200 --> 00:28:14,240 'It is conducted' 471 00:28:14,360 --> 00:28:16,360 'when the product market fit starts becoming visible, ' 472 00:28:16,440 --> 00:28:19,320 'but is not completely established.' 473 00:28:22,160 --> 00:28:23,960 It's in the SHA process now. 474 00:28:24,040 --> 00:28:25,240 But it isn't done yet. 475 00:28:26,840 --> 00:28:28,240 Raise a round with me first. 476 00:28:28,320 --> 00:28:29,360 I will make it double. 477 00:28:29,440 --> 00:28:31,480 Instead of Rs. 15 crores, I'll make it Rs. 30 crores. 478 00:28:31,560 --> 00:28:33,680 - Oh, wow! Just like that! - [indistinct murmur] 479 00:28:34,920 --> 00:28:36,600 But that's final. 480 00:28:38,240 --> 00:28:39,920 Rs. 60 lakhs for 2% equity 481 00:28:50,600 --> 00:28:52,760 I loved one thing. 482 00:28:52,840 --> 00:28:55,320 That you're out to challenge 483 00:28:55,440 --> 00:28:58,520 the global players in medical devices. 484 00:28:59,320 --> 00:29:02,440 I believe they have the monopoly. 485 00:29:03,120 --> 00:29:06,520 The cost of machines is in lakhs and even crores. 486 00:29:07,360 --> 00:29:09,600 I am delighted to hear 487 00:29:09,680 --> 00:29:12,320 this product is made in India and is an indigenous innovation. 488 00:29:12,400 --> 00:29:14,880 You are challenging giants, 489 00:29:15,000 --> 00:29:17,800 and I believe you will make India proud. 490 00:29:17,880 --> 00:29:19,720 [euphoric music playing] 491 00:29:19,800 --> 00:29:23,240 But today, despite all that, I am out, 492 00:29:23,360 --> 00:29:25,840 because I don't think I can help you the way Namita can. 493 00:29:25,920 --> 00:29:27,120 Thank you. Thank you, sir. 494 00:29:27,200 --> 00:29:28,560 All the best. 495 00:29:29,640 --> 00:29:32,120 Arun, do you know what I like best about you? 496 00:29:32,240 --> 00:29:33,360 You hustled. 497 00:29:34,240 --> 00:29:37,640 You pushed yourself. You were at it for six years. 498 00:29:37,720 --> 00:29:39,880 I was ready to make you an offer for that reason. 499 00:29:40,480 --> 00:29:41,440 And I would have. 500 00:29:42,560 --> 00:29:44,280 But, you know? 501 00:29:44,400 --> 00:29:47,880 Namita is the perfect Shark for you is what I believe. 502 00:29:49,760 --> 00:29:53,280 - So, I leave it to you and Namita. - Don't take a lot of time. 503 00:29:53,360 --> 00:29:55,440 - I'm out. - Accept the offer and move on. 504 00:29:55,560 --> 00:29:58,040 Let me tell you something. This is a personal story. 505 00:29:58,120 --> 00:30:03,960 My cousin lost her newborn infant. 506 00:30:04,040 --> 00:30:06,600 So, it's something that's very close to my heart. 507 00:30:21,280 --> 00:30:26,080 So, the day pharma and technology join hands, 508 00:30:26,480 --> 00:30:29,040 we can create magic. 509 00:30:29,120 --> 00:30:30,680 - Pharma and tech power, right? - Yes. 510 00:30:30,760 --> 00:30:32,400 [unanimous laughter] 511 00:30:32,480 --> 00:30:33,680 So, two Sharks are out. 512 00:30:33,760 --> 00:30:34,840 - Three are still in... - Okay. 513 00:30:34,920 --> 00:30:36,240 - You have one offer. - Have you made your decision? 514 00:30:36,320 --> 00:30:38,480 - Peyush and Amit? - I have a question. 515 00:30:38,600 --> 00:30:41,920 She did the math quickly. I would like to understand this. 516 00:30:42,800 --> 00:30:45,400 Your revenue has been stagnant for a year. 517 00:30:45,480 --> 00:30:47,600 You said it is a revolutionary product. 518 00:30:47,680 --> 00:30:49,160 Why haven't nursing homes 519 00:30:49,280 --> 00:30:52,200 lapped up your product in a span of one year then? 520 00:30:53,280 --> 00:30:54,160 It isn't stagnant, sir. 521 00:30:54,240 --> 00:30:55,960 We made Rs. 1 crore in the last financial year. 522 00:30:56,040 --> 00:30:57,960 - You still make Rs. 10 lakhs a month. - Yes, 10 lakhs. 523 00:30:58,040 --> 00:31:00,400 But I have big deals in the pipeline which will take us to Rs. 4 crores. 524 00:31:00,480 --> 00:31:01,680 These are all signed deals. 525 00:31:02,560 --> 00:31:04,960 Actually, our market consists of Southeast Asia, 526 00:31:05,160 --> 00:31:08,360 the African continent countries and South America. 527 00:31:08,440 --> 00:31:11,160 We have begun exporting devices as well. 528 00:31:11,720 --> 00:31:15,680 We will work with regional distributors there. 529 00:31:15,760 --> 00:31:19,480 Arun, I have said this in season 1 many times, 530 00:31:19,640 --> 00:31:21,480 and I will reiterate it for you. 531 00:31:21,560 --> 00:31:23,680 I hope you know we're present in 70 countries. 532 00:31:23,760 --> 00:31:25,240 Right, I know. 533 00:31:25,400 --> 00:31:28,120 - She's present in 70 countries even though she's here! - Right. 534 00:31:28,200 --> 00:31:29,360 She's a master of illusion! 535 00:31:29,440 --> 00:31:30,480 See! 536 00:31:31,320 --> 00:31:34,920 I'll offer you Rs. 1 crore for 5% equity. 537 00:31:37,000 --> 00:31:39,760 - If Namita wishes to join... - I want to go solo. 538 00:31:39,880 --> 00:31:42,120 [intense music playing] 539 00:31:42,880 --> 00:31:43,960 This is my deal. 540 00:31:59,360 --> 00:32:00,680 You said Rs. 4 crores this year. 541 00:32:00,760 --> 00:32:03,040 Next year, how much revenue will you make for sure? 542 00:32:03,160 --> 00:32:05,440 Sir, if I finalise the deal with Namita... 543 00:32:05,520 --> 00:32:07,480 With Namita, Rs. 50 crores. 544 00:32:07,600 --> 00:32:10,040 Without Namita, Rs. 8 crores. Tell him! 545 00:32:10,160 --> 00:32:12,840 What is the revenue you can achieve without Namita's help? 546 00:32:12,920 --> 00:32:14,840 [intense music playing] 547 00:32:15,080 --> 00:32:16,480 A minimum of Rs. 20 crores. 548 00:32:16,600 --> 00:32:19,040 - A minimum of Rs. 20 crores... - And Rs. 50 crores with me. 549 00:32:19,120 --> 00:32:21,080 [intense music playing] 550 00:32:21,360 --> 00:32:25,000 You have asked for Rs. 1 crore and you wish to dilute 2.5%. 551 00:32:25,960 --> 00:32:27,640 We're willing to give you what you asked for. 552 00:32:27,720 --> 00:32:29,400 [intense music playing] 553 00:32:31,280 --> 00:32:32,680 What are the projected sales 554 00:32:32,760 --> 00:32:34,080 you so confidently quoted for the next year? 555 00:32:34,200 --> 00:32:35,120 - Rs. 20 crores. - 20 crores. 556 00:32:35,200 --> 00:32:37,080 If you don't achieve it, we'll take 5% equity. 557 00:32:37,160 --> 00:32:39,040 [intense music playing] 558 00:32:47,720 --> 00:32:51,440 - This... - For having the courage to take on me! 559 00:32:51,520 --> 00:32:52,800 I'm trembling like a leaf! 560 00:32:52,880 --> 00:32:54,200 I mean seriously! 561 00:32:54,280 --> 00:32:56,560 They are so brave! So very brave! 562 00:32:58,920 --> 00:33:00,680 We're from Rajasthan. 563 00:33:00,800 --> 00:33:03,360 We understand business. Do you want to grow your business? 564 00:33:03,640 --> 00:33:04,920 I don't agree. 565 00:33:06,440 --> 00:33:08,240 Don't bring Rajasthan into this. 566 00:33:08,320 --> 00:33:09,600 Don't play the community card! 567 00:33:09,680 --> 00:33:11,280 Gujaratis are just as good. 568 00:33:12,360 --> 00:33:14,720 The innovation bit is taken care of.. 569 00:33:14,800 --> 00:33:16,440 Let's work on how to monetise 570 00:33:16,520 --> 00:33:19,520 - the business... - Let me summarise the deal for you. 571 00:33:20,560 --> 00:33:23,440 Peyush and Amit made you a combined offer 572 00:33:23,640 --> 00:33:27,720 of Rs. 1 crore for 2.5% equity at a valuation of Rs. 40 crores. 573 00:33:27,800 --> 00:33:29,760 Contingent or conditional. 574 00:33:41,240 --> 00:33:43,480 I, on the other hand, made you two deals. 575 00:33:44,320 --> 00:33:45,840 Deal number one. 576 00:34:06,080 --> 00:34:08,640 [intense music playing] 577 00:34:27,080 --> 00:34:28,760 - Even in India. - Well done. 578 00:34:30,200 --> 00:34:31,280 [camera shutter clicks] 579 00:34:32,800 --> 00:34:33,880 Good job. 580 00:36:05,960 --> 00:36:09,080 [epic music] 581 00:36:16,880 --> 00:36:19,840 [ethereal music] 582 00:36:28,640 --> 00:36:30,280 The strength of iron increases 583 00:36:30,720 --> 00:36:32,480 with the extent to which it is heated. 584 00:36:34,080 --> 00:36:37,440 And gold shines brighter the more it burns in the fire. 585 00:36:38,840 --> 00:36:42,240 A diamond's shine increases with the number of cuts. 586 00:36:42,320 --> 00:36:43,880 [epic music] 587 00:36:43,960 --> 00:36:46,760 Earthenware is baked 588 00:36:46,840 --> 00:36:50,440 - before becoming useful. - Wow! 589 00:36:50,560 --> 00:36:53,160 Sharks, time is powerful. 590 00:36:53,240 --> 00:36:56,400 And today I want to ask you for some of your time. 591 00:36:56,480 --> 00:36:58,520 [epic music] 592 00:36:59,720 --> 00:37:00,760 Greetings! 593 00:37:06,200 --> 00:37:08,920 [upbeat music] 594 00:37:09,320 --> 00:37:10,360 Nice! 595 00:37:19,480 --> 00:37:22,680 - We started out in the year 2013. - Hmm! 596 00:37:23,000 --> 00:37:26,080 Today, our watches don't just tell time, 597 00:37:26,240 --> 00:37:30,080 in fact, we endeavour to tie a part of Indian history 598 00:37:30,160 --> 00:37:33,280 on our customers' wrists with the help of our limited-edition watches. 599 00:37:35,120 --> 00:37:37,360 Today, our client list includes 600 00:37:37,440 --> 00:37:40,120 Indian celebrities, 601 00:37:40,200 --> 00:37:42,480 film stars, sports stars 602 00:37:42,600 --> 00:37:44,800 and numerous corporate personalities. 603 00:37:44,880 --> 00:37:46,800 [ethereal music] 604 00:37:58,000 --> 00:38:01,120 Sharks, I have a simple question for all of you. 605 00:38:01,200 --> 00:38:04,560 How many luxury brands are founded in India until now? 606 00:38:04,640 --> 00:38:07,840 Brands which became famous all around the world. 607 00:38:07,920 --> 00:38:10,480 [joyful music] 608 00:38:10,560 --> 00:38:11,960 My dream is, 609 00:38:12,040 --> 00:38:14,440 India plus luxury is equal to global. 610 00:38:16,120 --> 00:38:19,680 I need your help to fulfil my dream. 611 00:38:30,520 --> 00:38:33,360 We welcome you to Shark Tank. 612 00:38:33,920 --> 00:38:35,720 In the year 2013, what incident 613 00:38:35,800 --> 00:38:38,480 inspired you to start this business? 614 00:38:38,560 --> 00:38:41,320 Usually, people don't think about starting this business. 615 00:38:41,320 --> 00:38:45,560 Sir, I'm fond of watches and coins since childhood. 616 00:38:45,720 --> 00:38:48,000 My personal collection has more than 300 watches. 617 00:38:48,280 --> 00:38:49,800 Gosh! 618 00:38:49,880 --> 00:38:52,440 In the year 2012, 619 00:38:52,560 --> 00:38:55,440 - I was tinkering with a watch. - Okay. 620 00:38:55,640 --> 00:38:58,560 Just a few moments back, I had received a coin through a courier. 621 00:38:59,520 --> 00:39:02,840 - It was a coin of the British era which has a hole in it. - Yes. 622 00:39:02,920 --> 00:39:06,400 It's the only coin in the history of Indian coinage having a hole. 623 00:39:06,480 --> 00:39:08,680 I collected coins too, so I'm aware of that. 624 00:39:08,760 --> 00:39:10,400 Out of the blue, I decided 625 00:39:10,520 --> 00:39:13,160 to fix that coin inside the watch to see how it looked. 626 00:39:13,720 --> 00:39:16,720 Then I fixed it in the watch and started wearing that watch. 627 00:39:17,840 --> 00:39:21,280 - Many people were inquisitive as to where I bought it from. - Oh, my! 628 00:39:21,360 --> 00:39:23,680 I said, "I made it." So they said, "Please make one for us." 629 00:39:23,760 --> 00:39:27,080 So I got positive feedback from people. 630 00:39:27,200 --> 00:39:30,520 And I wasn't enjoying the job I was doing at that time. 631 00:39:30,680 --> 00:39:33,080 I had only one passion. 632 00:39:33,200 --> 00:39:36,680 I couldn't get a better opportunity to fulfil both my passions. 633 00:39:36,760 --> 00:39:38,680 [ethereal music] 634 00:39:38,800 --> 00:39:42,200 What did you do before? And what is your age? 635 00:39:42,280 --> 00:39:43,880 - Please share... - I'm 38 years old. 636 00:39:43,960 --> 00:39:46,400 You are 38 years old. Where did you grow up? What about your studies? 637 00:39:46,480 --> 00:39:48,000 I hail from Jaipur. 638 00:39:48,120 --> 00:39:50,520 In which school did you study? I'm from Jaipur too. 639 00:39:50,960 --> 00:39:53,520 I studied at SMS school and you studied at St. Xavier's. 640 00:39:53,600 --> 00:39:55,360 - St. Xavier's! Yes! - Alright. 641 00:39:55,440 --> 00:39:57,400 I'm originally from Jaipur but now I'm settled in Mumbai. 642 00:39:57,480 --> 00:39:58,440 You're from Rajasthan. 643 00:39:58,520 --> 00:40:00,400 - Alright. - And I go to Jaipur for outings. 644 00:40:00,480 --> 00:40:01,880 [chuckling] 645 00:40:02,160 --> 00:40:05,320 - I completed my Master's degree in risk management. - Okay. 646 00:40:05,400 --> 00:40:08,800 I did a job for eight months but then I realised I couldn't continue. 647 00:40:08,880 --> 00:40:11,040 [chuckling] 648 00:40:11,120 --> 00:40:14,840 - Then I started my insurance broking firm. - You started alone? 649 00:40:14,920 --> 00:40:16,000 - That's right. - Alright. 650 00:40:16,080 --> 00:40:18,200 I ventured into the watch business 651 00:40:18,480 --> 00:40:20,840 - during that time. - Do you belong to a jewellery family in Jaipur? 652 00:40:20,920 --> 00:40:22,720 No. My father was a chartered accountant. 653 00:40:22,800 --> 00:40:24,840 I'm a first-generation entrepreneur. 654 00:40:25,000 --> 00:40:26,360 Alright! 655 00:40:26,680 --> 00:40:28,320 Who designs your watches? 656 00:40:28,440 --> 00:40:30,560 I make the initial design. 657 00:40:30,640 --> 00:40:33,480 [dreamy music] 658 00:40:33,920 --> 00:40:35,600 - Can we see the products? - Yes! 659 00:40:37,160 --> 00:40:39,360 [motivational music] 660 00:40:41,320 --> 00:40:42,560 I can see a stamp. 661 00:40:42,640 --> 00:40:45,360 It's a postal stamp of 1938. 662 00:40:45,440 --> 00:40:46,400 Okay. 663 00:40:48,360 --> 00:40:50,440 This is the watch I made coincidentally. 664 00:40:50,520 --> 00:40:53,040 [motivational music] 665 00:40:54,160 --> 00:40:56,840 - These are innovative watches. - All of them are unique. 666 00:40:56,960 --> 00:40:58,200 Very nice! 667 00:40:58,280 --> 00:41:02,280 Gaurav, please give us a few watches to examine. If you don't mind. 668 00:41:04,400 --> 00:41:05,760 Thank you! 669 00:41:09,560 --> 00:41:12,120 It's a beautiful watch having a picture of a tiger. 670 00:41:12,200 --> 00:41:13,680 Did you fix it later? 671 00:41:13,760 --> 00:41:15,320 Sir, this tiger picture isn't painted. 672 00:41:15,400 --> 00:41:17,760 Actually, it's the last coin of British India. 673 00:41:18,400 --> 00:41:20,760 - Wow! - It was minted in the year 1947. 674 00:41:20,880 --> 00:41:23,760 - Very nice! - Fabulous! Is it the most expensive watch you have? 675 00:41:23,880 --> 00:41:24,960 In the Pret collection? Yes! 676 00:41:24,960 --> 00:41:26,440 We work in two categories. 677 00:41:26,520 --> 00:41:28,400 One is Pret and the other one is Bespoke. 678 00:41:28,480 --> 00:41:29,720 [suspenseful music] 679 00:41:29,800 --> 00:41:32,200 Pret categories are pre-made collections 680 00:42:00,520 --> 00:42:02,440 Nowadays, people are buying smartwatches too. 681 00:42:06,880 --> 00:42:08,560 - It is in pipeline. - Good! 682 00:42:09,240 --> 00:42:11,560 We want to make a hybrid smartwatch. 683 00:42:11,640 --> 00:42:14,880 A smart band would be attached 684 00:42:14,960 --> 00:42:16,920 to a normal mechanical watch. 685 00:42:17,040 --> 00:42:18,800 [dramatic music] 686 00:42:22,480 --> 00:42:25,880 Our last year's sales were Rs. 1.07 crores. 687 00:42:26,920 --> 00:42:30,320 Our sales from April to 20th August 688 00:42:30,400 --> 00:42:32,200 is Rs. 1.20 crores. 689 00:42:33,360 --> 00:42:35,960 Our Pret collection contributes 690 00:42:36,040 --> 00:42:38,840 - 80% to our sales. - Okay! 691 00:42:38,920 --> 00:42:40,800 And Bespoke contributes 20% to our sales. 692 00:42:42,360 --> 00:42:43,440 What is your profit? 693 00:42:43,520 --> 00:42:45,800 The gross profit is 75% 694 00:42:46,720 --> 00:42:48,280 and the net profit is 25%. 695 00:42:49,640 --> 00:42:51,920 How do you acquire customers? Do you have a showroom? 696 00:42:52,000 --> 00:42:54,040 We use various models. 697 00:42:54,120 --> 00:42:57,760 For instance, our website contributes 65% to our business. 698 00:42:57,840 --> 00:42:59,760 - So people buy your product online? - Yes! 699 00:43:00,880 --> 00:43:03,120 We have a standalone store in Jaipur. 700 00:43:17,440 --> 00:43:18,280 Yes. 701 00:43:21,560 --> 00:43:23,120 in one year. Approximately, 150-200 watches. 702 00:43:23,200 --> 00:43:24,320 Yes. From the Pret collection. 703 00:43:24,400 --> 00:43:26,120 But why are your sales less? 704 00:43:26,200 --> 00:43:28,320 [tense music] 705 00:43:28,400 --> 00:43:29,760 Let me share the reason. 706 00:43:29,880 --> 00:43:31,680 In the watch business, 707 00:43:31,800 --> 00:43:35,200 especially if you want to present yourself as a luxury watchmaker, 708 00:43:35,280 --> 00:43:36,800 you need deep pockets. 709 00:43:42,680 --> 00:43:44,680 - Or Kapoor Watch Company. - The Kapoor Watch Company. 710 00:43:44,760 --> 00:43:48,120 I approached the watch retailers. 711 00:43:48,240 --> 00:43:50,000 I requested them to keep my watches. 712 00:43:51,120 --> 00:43:53,280 They replied, "we don't keep 713 00:43:53,360 --> 00:43:56,520 Indian watches. We deal only in Swiss brands." 714 00:43:56,600 --> 00:43:57,880 [sweeping music] 715 00:43:57,960 --> 00:44:01,000 To break this mindset, 716 00:44:01,080 --> 00:44:03,120 I entered the market through five-star hotels. 717 00:44:04,000 --> 00:44:07,120 We are planning something for scaleability. 718 00:44:07,760 --> 00:44:10,720 We will introduce the concept of instant Bespoke watches. 719 00:44:11,040 --> 00:44:14,680 In this concept, we'll make a customised watch 720 00:44:14,760 --> 00:44:17,840 within 15 minutes at our stores live. 721 00:44:19,320 --> 00:44:20,480 Please have a look. 722 00:44:21,840 --> 00:44:22,960 How much does this watch cost? 723 00:44:23,040 --> 00:44:25,320 This watch costs Rs. 55,000. 724 00:44:27,800 --> 00:44:30,080 Gaurav, I have an issue. 725 00:44:31,400 --> 00:44:33,560 If you are selling watches for Rs. 20,000 726 00:44:33,640 --> 00:44:35,960 and for Rs. 25 lakhs too, 727 00:44:36,040 --> 00:44:39,080 it creates a differentiation in the brand strategy. 728 00:44:39,160 --> 00:44:42,120 You can't target different categories of consumers. 729 00:44:42,200 --> 00:44:44,600 [tense music] 730 00:44:44,680 --> 00:44:46,040 Sir, you're right. 731 00:44:46,120 --> 00:44:47,880 But when we start a business, 732 00:44:47,960 --> 00:44:50,200 we employ some strategies for survival. 733 00:44:50,280 --> 00:44:52,160 - No! Not in this business. - We don't agree. 734 00:44:52,280 --> 00:44:53,680 I mean when I started out. 735 00:44:53,760 --> 00:44:56,280 - When I started my business. - I agree that you do it for survival. 736 00:44:56,360 --> 00:44:58,960 You sold cheap watches for survival 737 00:44:59,040 --> 00:45:02,200 and later on, you start selling shirts. You can't do that. 738 00:45:02,520 --> 00:45:03,920 No. That can't be done. 739 00:45:04,000 --> 00:45:06,040 You created confusion in your mind 740 00:45:06,160 --> 00:45:07,720 as well as the consumer's mind about your identity. 741 00:45:09,160 --> 00:45:11,040 Gaurav, I have made my decision. 742 00:45:11,160 --> 00:45:12,840 [sweeping music] 743 00:45:13,520 --> 00:45:15,880 I'm interested in the watch industry. 744 00:45:16,840 --> 00:45:19,080 There are two types of customers in this industry. 745 00:45:20,120 --> 00:45:21,840 Either they want convenience. 746 00:45:21,920 --> 00:45:24,160 As Aman pointed out, they want wearables and smartwatches. 747 00:45:24,240 --> 00:45:26,680 The second one is the aspirational class. 748 00:45:27,000 --> 00:45:29,120 Right? An aspirational class is the one 749 00:45:29,240 --> 00:45:31,200 who saves money 750 00:45:31,280 --> 00:45:34,800 to buy an expensive piece of jewellery. 751 00:45:34,920 --> 00:45:38,160 And ego plays a huge factor in it. 752 00:45:38,240 --> 00:45:39,280 Alright. 753 00:45:39,360 --> 00:45:41,680 For that reason, you could scale up 754 00:45:41,760 --> 00:45:44,200 to an extent for sure. 755 00:45:56,960 --> 00:46:00,320 - I think you should open stores. - Okay. 756 00:46:00,400 --> 00:46:03,200 You should fine-tune your branding. 757 00:46:03,320 --> 00:46:05,760 For example, your design, logo 758 00:46:05,960 --> 00:46:07,200 and inscription on the watches. 759 00:46:07,280 --> 00:46:10,560 Many watches were inscribed nicely but others weren't so impactful. 760 00:46:11,440 --> 00:46:14,040 Detailing matters in a premium brand. 761 00:46:14,120 --> 00:46:16,440 [tense music] 762 00:46:16,560 --> 00:46:18,680 Today I want to be out of it because 763 00:46:19,720 --> 00:46:22,160 the path to building a big business 764 00:46:22,240 --> 00:46:25,160 isn't clear in your case. But I want 765 00:46:25,240 --> 00:46:29,520 - you to make a luxury brand in India. - Okay. 766 00:46:29,640 --> 00:46:32,560 So best of luck! I want you to be successful and I hope you will. 767 00:46:37,680 --> 00:46:39,920 you achieved a yearly sale of Rs. 2.50 crores. 768 00:46:40,040 --> 00:46:42,080 Sir, the run rate is Rs. 4 crores this year. 769 00:46:42,200 --> 00:46:44,720 Alright. I accept that you earned Rs. 4 crores this year. 770 00:47:17,400 --> 00:47:20,040 I believe that the company name you chose isn't right. 771 00:47:21,640 --> 00:47:23,480 I think you're the designer. 772 00:47:24,720 --> 00:47:27,320 You should name it Gaurav Mehta. 773 00:47:28,280 --> 00:47:29,600 If you do that, 774 00:47:29,720 --> 00:47:33,320 it would become aspirational. "I want to buy a Gaurav Mehta Watch." 775 00:47:34,600 --> 00:47:36,920 But your product is a designer's product. 776 00:47:37,000 --> 00:47:38,560 It's an artist's product. 777 00:47:38,640 --> 00:47:40,520 I don't think it's an investible company. 778 00:47:42,800 --> 00:47:45,400 So I want to be out today. 779 00:47:45,480 --> 00:47:47,040 [suspenseful music] 780 00:47:47,120 --> 00:47:48,280 But I wish you the best. 781 00:47:48,360 --> 00:47:50,120 My final advice would be 782 00:47:50,200 --> 00:47:52,720 if you want to cater to both categories of customers, 783 00:47:52,800 --> 00:47:56,360 increase the price of the super-luxury brand at least. 784 00:47:56,480 --> 00:47:58,960 And sell the cheaper watches under a different name. 785 00:48:00,400 --> 00:48:02,840 - Okay? All the best to you. - Thank you! 786 00:48:03,320 --> 00:48:06,560 The company's strategy isn't clear. Sometimes it appears to be B2B. 787 00:48:06,640 --> 00:48:09,640 It would be a lumpy business. As you may get orders or you may not. 788 00:48:10,200 --> 00:48:14,080 There's an exit barrier because it isn't easy to exit this business. 789 00:48:15,160 --> 00:48:16,440 But I want to tell you 790 00:48:16,520 --> 00:48:18,560 that India would succeed if you succeed. 791 00:48:18,680 --> 00:48:21,320 If you make Jaipur Watch Company a global company, 792 00:48:21,440 --> 00:48:22,680 it would be great to hear the name of our city. 793 00:48:22,760 --> 00:48:24,920 I mean I'll be the biggest cheerleader. 794 00:48:25,760 --> 00:48:28,680 I'm out for now. But all the best. Bring glory to Jaipur. 795 00:48:28,760 --> 00:48:29,760 Thank you! 796 00:48:29,880 --> 00:48:31,520 Bring glory to India and not just Jaipur. 797 00:48:31,600 --> 00:48:33,840 [sweeping music] 798 00:48:34,880 --> 00:48:36,600 It's not that India never launched luxury brands. 799 00:48:36,680 --> 00:48:38,720 I love Oberoi Hotels and Taj Hotels. 800 00:48:38,800 --> 00:48:42,480 I like their hospitality more than any other hotel in the world. 801 00:48:42,560 --> 00:48:43,320 [suspenseful music] 802 00:48:43,400 --> 00:48:44,520 That's right. 803 00:48:45,320 --> 00:48:46,960 So luxury brands are being launched and will be launched in future too. 804 00:48:47,080 --> 00:48:49,480 But I'd like to help you in making a brand strategy. 805 00:48:49,560 --> 00:48:51,240 I won't help you here by investing. 806 00:48:52,920 --> 00:48:53,920 But I'll help you outside this place. 807 00:48:54,000 --> 00:48:56,720 I'll discuss your business with you. 808 00:48:56,840 --> 00:48:58,720 It's a great endeavour and it can scale up. 809 00:48:59,720 --> 00:49:02,160 - Thank you so much, Gaurav! Bye! - Thank you so much! 810 00:49:02,240 --> 00:49:03,680 - Thank you so much, Gaurav. - Thank you! 811 00:49:03,760 --> 00:49:05,400 Bye! All the best! 812 00:49:05,480 --> 00:49:07,680 [ethereal music] 813 00:49:12,120 --> 00:49:14,240 'Let's watch Shark Xperience.' 814 00:49:14,360 --> 00:49:16,480 'Hi, Amit. Jayanti from Visakhapatnam' 815 00:49:16,640 --> 00:49:18,040 'has a question for you.' 816 00:49:18,120 --> 00:49:20,880 'Shark Tank season 1 was a super hit.' 817 00:49:20,960 --> 00:49:24,200 'When you came to know that you are the new Shark in season 2,' 818 00:49:24,280 --> 00:49:27,360 'what was your reaction? And what preparation did you do?' 819 00:49:27,760 --> 00:49:28,960 I was excited 820 00:49:29,040 --> 00:49:30,520 because I was getting a chance 821 00:49:30,600 --> 00:49:33,840 to bring the wisdom of running a business for 15 years to Shark Tank. 822 00:49:33,920 --> 00:49:34,880 I didn't do any preparation. 823 00:49:34,960 --> 00:49:37,960 First of all, I watched all the episodes of the last season. 824 00:49:38,040 --> 00:49:40,200 Earlier, I watched them from a different perspective. 825 00:49:40,280 --> 00:49:41,520 This time, I watched it as a Shark. 826 00:49:41,600 --> 00:49:43,560 Businesses of varying dimensions come here.