1 00:00:30,000 --> 00:00:32,600 Sharks, fasten your seatbelts. 2 00:00:33,200 --> 00:00:34,880 The game is about to begin. 3 00:00:34,960 --> 00:00:36,600 [exciting music] 4 00:00:37,040 --> 00:00:39,400 3, 2, 1. 5 00:00:40,120 --> 00:00:41,280 Go! 6 00:00:41,640 --> 00:00:43,960 [adventrous music] 7 00:00:45,640 --> 00:00:47,320 Careful, Amit. 8 00:00:47,800 --> 00:00:49,000 Nice. 9 00:00:52,720 --> 00:00:53,920 Hi. 10 00:00:54,480 --> 00:00:56,560 [adventurous music] 11 00:01:05,320 --> 00:01:06,480 Whoa. 12 00:01:06,560 --> 00:01:08,800 - That was nice. - Amazing. 13 00:01:14,320 --> 00:01:16,920 [adventurous music] 14 00:01:27,440 --> 00:01:29,400 [theme music] 15 00:01:40,960 --> 00:01:42,760 [theme music] 16 00:02:04,120 --> 00:02:06,200 [theme music] 17 00:02:10,760 --> 00:02:13,200 Sharks, how did you like it? 18 00:02:13,280 --> 00:02:14,440 Very good. 19 00:02:14,560 --> 00:02:16,840 We really enjoyed it. You all flew them very well. 20 00:02:16,960 --> 00:02:19,320 We felt the same adrenalin rush 21 00:02:19,400 --> 00:02:22,400 when we saw these drones flying in our college. 22 00:02:22,560 --> 00:02:23,680 So we thought 23 00:02:23,760 --> 00:02:26,200 of making these drones ourselves. 24 00:02:27,040 --> 00:02:29,760 And so, when we started our research, 25 00:02:29,960 --> 00:02:32,400 you will not believe what we saw. 26 00:02:32,560 --> 00:02:35,120 You cannot buy these drones in India. 27 00:02:35,280 --> 00:02:38,320 - Really? - All these drones are available abroad. 28 00:02:38,600 --> 00:02:39,760 So what do people do? 29 00:02:39,960 --> 00:02:43,360 They order them in an unauthorised manner from abroad. 30 00:02:44,440 --> 00:02:46,280 Sharks, do you know 31 00:02:46,560 --> 00:02:48,920 that recently the Indian government 32 00:02:49,080 --> 00:02:51,680 banned flying these drones in India. 33 00:02:51,840 --> 00:02:54,520 Because they were all foreign drones. 34 00:02:55,080 --> 00:02:56,800 So what would, cinematographers, 35 00:02:56,960 --> 00:02:58,760 YouTubers, students 36 00:02:58,960 --> 00:03:01,200 and commercial photographers do in this scenario? 37 00:03:01,400 --> 00:03:03,560 Where will they get these drones from? 38 00:03:04,360 --> 00:03:07,160 That's why we present insideFPV. 39 00:03:08,640 --> 00:03:11,360 InsideFPV is India's first consumer-based 40 00:03:11,600 --> 00:03:13,040 leading drone company. 41 00:03:13,120 --> 00:03:15,800 It manufactures Plug & Fly FPV drones. 42 00:03:15,880 --> 00:03:18,600 It means you plug in the battery in the drone 43 00:03:18,720 --> 00:03:20,320 and fly it. 44 00:03:21,000 --> 00:03:24,200 We'll manage the rest of the technical aspects. 45 00:03:25,240 --> 00:03:28,160 So Sharks, through insideFPV 46 00:03:28,360 --> 00:03:31,600 we want to make drones pocket friendly in India. 47 00:03:32,240 --> 00:03:33,920 Our drones are listed 48 00:03:34,000 --> 00:03:36,560 at Rs. 2,800 on our website. 49 00:03:36,680 --> 00:03:39,000 You will not get it anywhere else in India. 50 00:03:39,320 --> 00:03:42,320 We offer services to our consumers like, 51 00:03:42,480 --> 00:03:43,760 one drone crash warranty, 52 00:03:43,840 --> 00:03:46,520 and free consultation by experienced pilots too. 53 00:03:48,000 --> 00:03:49,320 Our vision is to 54 00:03:49,440 --> 00:03:52,440 make insideFPV the no. 1 global brand. 55 00:03:52,680 --> 00:03:55,600 And so Sharks, we need your expertise. 56 00:03:56,720 --> 00:03:58,200 I am Oshi Kumari. 57 00:03:58,280 --> 00:03:59,480 I am Arth Chowdhary. 58 00:03:59,600 --> 00:04:01,000 And I am Devyant Bhardwaj. 59 00:04:01,160 --> 00:04:03,880 And we are the founders of team insideFPV. 60 00:04:05,360 --> 00:04:09,680 We are asking for Rs. 75 lakhs against 4% equity. 61 00:04:10,600 --> 00:04:11,600 So Sharks, 62 00:04:11,760 --> 00:04:15,520 are you ready to take this flight with insideFPV? 63 00:04:16,320 --> 00:04:17,640 - Nice. - Very nice. 64 00:04:17,720 --> 00:04:19,600 You made a very enthusiastic pitch. 65 00:04:19,920 --> 00:04:21,080 The entry was perfect too. 66 00:04:21,200 --> 00:04:22,000 - Thank you, sir. - So... 67 00:04:22,040 --> 00:04:25,320 Arth, Oshi and Devyant, welcome to Shark Tank. 68 00:04:25,720 --> 00:04:27,120 Thank you, sir. 69 00:04:27,200 --> 00:04:30,280 Did you start this in college? How did it begin? 70 00:04:30,400 --> 00:04:33,280 All three of us have studied at the Vellore Institute of Technology, Vell 71 00:04:33,400 --> 00:04:34,280 Lovely. 72 00:04:34,360 --> 00:04:36,360 I have a mechanical background. 73 00:04:36,520 --> 00:04:38,200 Arth has a mechanical background too. 74 00:04:38,400 --> 00:04:40,640 Devyant has an electrical background. 75 00:04:40,720 --> 00:04:42,160 I am still studying in my fourth year of engineering. 76 00:04:42,360 --> 00:04:45,000 And these two graduated just two days earlier. 77 00:04:45,200 --> 00:04:47,240 - Wow. - Wow, amazing. 78 00:04:47,320 --> 00:04:48,520 Brilliant. 79 00:04:48,600 --> 00:04:49,560 Thank you. 80 00:04:49,680 --> 00:04:51,920 Fantastic to see a woman in STEM. 81 00:04:52,200 --> 00:04:54,400 There are very few in our country. 82 00:04:54,480 --> 00:04:57,360 She is India's first FPV woman pilot too. 83 00:04:57,560 --> 00:04:59,400 - Wow. - Amazing. 84 00:04:59,480 --> 00:05:02,000 - Well done, Oshi. - Thank you, ma'am. 85 00:05:03,360 --> 00:05:06,840 So you three made these drones while studying. 86 00:05:06,920 --> 00:05:09,640 Set up your business. When do you'll actually study? 87 00:05:09,760 --> 00:05:11,920 Sir, studying was online for the last two years. 88 00:05:12,040 --> 00:05:14,320 So we did not need to study much. 89 00:05:14,480 --> 00:05:15,680 [laughter] 90 00:05:15,880 --> 00:05:17,560 - You mean you did not study. - No. 91 00:05:17,680 --> 00:05:20,240 - You did not study? - Even then she's a 9-pointer. 92 00:05:20,320 --> 00:05:21,440 What does that mean? 93 00:05:21,600 --> 00:05:23,920 At VIT, 9-pointers have a lot of benefits. 94 00:05:24,000 --> 00:05:27,760 They don't have to attend classes and get extra preference everywhere. 95 00:05:27,840 --> 00:05:29,600 - Oh, she's a genius. - Yes. 96 00:05:29,840 --> 00:05:31,600 So you both got attached to her? 97 00:05:31,680 --> 00:05:34,440 That she would create something and you would benefit too. 98 00:05:34,520 --> 00:05:35,520 [laughter] 99 00:05:35,600 --> 00:05:38,400 What does FPV mean? 100 00:05:38,520 --> 00:05:40,000 First Person View. 101 00:05:41,320 --> 00:05:43,360 So you can sit here, 102 00:05:43,480 --> 00:05:45,720 and with your transmitter or remote, 103 00:05:45,880 --> 00:05:47,960 see the feed in your goggles. 104 00:05:48,520 --> 00:05:50,480 While seeing that feed, 105 00:05:50,560 --> 00:05:53,640 we can travel around 4-5 kilometres from here. 106 00:05:53,800 --> 00:05:55,640 - All right. - Got it. 107 00:05:56,080 --> 00:05:58,360 - Where are the goggles? Can I see them? - Yes. 108 00:05:58,640 --> 00:06:00,640 - Can I come there? - Definitely. 109 00:06:00,880 --> 00:06:02,800 [intriguing music] 110 00:06:03,360 --> 00:06:05,000 [adventrous music] 111 00:06:05,400 --> 00:06:06,960 Don't come close to me. 112 00:06:07,280 --> 00:06:08,680 It's coming towards you, Anupam. 113 00:06:09,360 --> 00:06:11,280 - Hi Aman. - How are you? 114 00:06:14,000 --> 00:06:16,160 I can see these guys very clearly. 115 00:06:16,320 --> 00:06:17,640 Good job, guys. 116 00:06:20,240 --> 00:06:22,200 This is crazy. This is very difficult. 117 00:06:22,360 --> 00:06:23,920 This is the model for Rs. 2,800. 118 00:06:24,080 --> 00:06:25,640 Even kids can fly it. 119 00:06:25,720 --> 00:06:26,600 [funny music] 120 00:06:26,760 --> 00:06:30,120 Seeing their enthusiasm, it's obvious that kids can fly it. 121 00:06:30,400 --> 00:06:32,000 [funny music] 122 00:06:32,080 --> 00:06:33,800 I want to fly it close to Aman. 123 00:06:33,920 --> 00:06:36,120 It's buzzing like a fly and you want to fly it close to me. 124 00:06:36,200 --> 00:06:39,440 Arth, send him back or he will keep doing this. 125 00:06:39,640 --> 00:06:41,000 [funny music] 126 00:06:41,600 --> 00:06:44,480 - This drone we just flew costs Rs. 2,800. - Yes. 127 00:06:44,560 --> 00:06:47,200 How much does the FPV model cost? 128 00:06:47,280 --> 00:06:48,800 That's for Rs. 25,000. 129 00:06:48,960 --> 00:06:52,720 Basically, the price range of our drones is Rs. 2,800, 130 00:06:52,960 --> 00:06:54,800 Rs. 8,000, Rs. 10,000. 131 00:06:54,960 --> 00:06:56,240 Rs. 15,000. 132 00:06:56,640 --> 00:06:59,360 The price of the FPV drones are high because 133 00:06:59,440 --> 00:07:01,560 you get the goggles with it. 134 00:07:01,800 --> 00:07:03,120 You also get the transmitter 135 00:07:03,240 --> 00:07:05,760 and a battery along with the drone. 136 00:07:06,160 --> 00:07:07,240 [dramatic music] 137 00:07:07,320 --> 00:07:09,720 Currently, who is supplying drones in India? 138 00:07:09,840 --> 00:07:12,000 We are the first consumer-based company. 139 00:07:12,080 --> 00:07:13,880 The first thing is that you are not 140 00:07:14,040 --> 00:07:15,320 the first drone manufacturer. 141 00:07:15,640 --> 00:07:17,120 [dramatic music] 142 00:07:17,280 --> 00:07:20,040 You might be the first to manufacture for Rs. 2,800. 143 00:07:20,120 --> 00:07:21,840 There must be many drone manufacturers in India. 144 00:07:23,160 --> 00:07:26,040 We can see many drones on Amazon. 145 00:07:26,160 --> 00:07:27,680 I bought drones from there. 146 00:07:28,040 --> 00:07:29,800 [dramatic music] 147 00:07:30,240 --> 00:07:32,320 The consumer drones you see 148 00:07:32,400 --> 00:07:33,960 are the DJI drones. 149 00:07:34,160 --> 00:07:35,320 Parrot drones. 150 00:07:35,520 --> 00:07:38,400 - Parrot is a brand from the USA. - Parrot is a French brand. 151 00:07:39,520 --> 00:07:41,160 DJI is a Chinese brand. 152 00:07:41,240 --> 00:07:43,640 - And both are banned now? - Yes, sir. 153 00:07:43,880 --> 00:07:45,200 [dramatic music] 154 00:07:45,440 --> 00:07:48,600 I saw the drone closely, it has a battery. 155 00:07:48,800 --> 00:07:50,480 Wiring and components. 156 00:07:50,640 --> 00:07:51,720 The entire design 157 00:07:51,800 --> 00:07:53,480 and manufacturing. All this is done in India? 158 00:07:54,440 --> 00:07:55,760 We have vendors from three places, 159 00:07:55,840 --> 00:07:58,320 China, Taiwan and Hong Kong. 160 00:07:58,400 --> 00:08:01,160 We source the parts from there and 161 00:08:01,320 --> 00:08:02,720 those are integrated here. 162 00:08:02,840 --> 00:08:05,200 The assembly is prepared. 163 00:08:05,280 --> 00:08:07,360 You said foreign drones are not allowed 164 00:08:07,440 --> 00:08:08,320 so you are manufacturing here. 165 00:08:08,400 --> 00:08:10,320 [thrilling music] 166 00:08:10,600 --> 00:08:12,840 Parts must be allowed, drones are not allowed. 167 00:08:13,520 --> 00:08:14,560 You cannot set up 168 00:08:14,600 --> 00:08:17,000 a drone manufacturing unit in India 169 00:08:17,080 --> 00:08:19,800 because that requires a large CapEx. 170 00:08:19,880 --> 00:08:21,440 There's no scale for drone manufacturing 171 00:08:21,520 --> 00:08:22,840 to start in India now. 172 00:08:22,920 --> 00:08:25,840 Exactly, this is an emerging industry. 173 00:08:25,920 --> 00:08:27,440 - Correct. - All right. 174 00:08:27,600 --> 00:08:29,200 Talking about scale, 175 00:08:29,280 --> 00:08:32,800 you brought a valuation of 18.75 crores. 176 00:08:32,960 --> 00:08:34,480 So what is your revenue? 177 00:08:34,560 --> 00:08:36,560 Both for last year and last month. 178 00:08:36,800 --> 00:08:40,120 Our last month's revenue is Rs. 13 lakhs. 179 00:08:40,440 --> 00:08:41,600 - Amazing. - Very good. 180 00:08:41,680 --> 00:08:44,960 - Well done. - My expectation was lower but 181 00:08:45,040 --> 00:08:46,520 - I am very impressed. - Last year? 182 00:08:46,600 --> 00:08:48,480 It was Rs. 85 lakhs. 183 00:08:48,560 --> 00:08:50,880 But this year from April to now, 184 00:08:51,000 --> 00:08:52,680 we've already crossed Rs. 44 lakhs. 185 00:08:52,800 --> 00:08:55,840 And we are looking to close at Rs. 4 crores because 186 00:08:56,080 --> 00:08:58,000 VIT, Chennai 187 00:08:58,080 --> 00:09:00,400 is setting up a drone lab for students. 188 00:09:00,520 --> 00:09:04,160 So we're giving them all our drones and equipment. 189 00:09:04,240 --> 00:09:06,360 Secondly, VIT, Vellore 190 00:09:06,560 --> 00:09:09,640 is buying two agricultural drones from us. 191 00:09:09,840 --> 00:09:12,680 Each drone will cost Rs. 8 lakhs. 192 00:09:13,920 --> 00:09:16,680 Oshi, I'd like to ask you one question. 193 00:09:16,800 --> 00:09:18,840 How is the equity split between you three? 194 00:09:18,920 --> 00:09:20,840 And how are the roles 195 00:09:20,960 --> 00:09:22,240 and responsibilities assigned to each of you? 196 00:09:22,320 --> 00:09:25,920 And mainly, split the 13 lakhs between B2B and B2C 197 00:09:26,000 --> 00:09:29,240 so that I get some clarity for your vision. 198 00:09:29,440 --> 00:09:32,280 Our equity split is equal now. 199 00:09:32,400 --> 00:09:34,040 Arth is the CEO. 200 00:09:34,200 --> 00:09:35,360 I'm the COO. 201 00:09:35,440 --> 00:09:36,800 And Devyant is the CTO. 202 00:09:36,880 --> 00:09:38,160 The 13 lakhs 203 00:09:38,400 --> 00:09:40,160 is distributed in this way. 204 00:09:40,240 --> 00:09:42,880 40% came from Plug and Fly FVP drones. 205 00:09:43,080 --> 00:09:44,800 And the remaining 60% 206 00:09:44,880 --> 00:09:46,920 - came from the spare parts. - Okay. 207 00:09:47,080 --> 00:09:49,880 Your third question was for B2B and B2C. 208 00:09:50,080 --> 00:09:51,680 Zero sales in B2B. 209 00:09:51,800 --> 00:09:54,320 The complete Rs. 13 lakh sales are B2C. 210 00:09:54,400 --> 00:09:55,200 Okay. 211 00:09:55,320 --> 00:09:57,360 You sell it for Rs. 2500. 212 00:09:57,920 --> 00:10:00,000 Can you explain this to me in detail? 213 00:10:00,080 --> 00:10:02,840 The cost is Rs. 2500, how much is the GST and the sale? 214 00:10:02,920 --> 00:10:05,800 How much does it cost you, what is your profit? 215 00:10:05,880 --> 00:10:08,760 The B drone of Rs. 2,700 216 00:10:08,960 --> 00:10:10,560 costs us around Rs. 1450 217 00:10:10,680 --> 00:10:12,200 plus 18% GST. 218 00:10:12,360 --> 00:10:14,640 1450 plus 18% GST 219 00:10:14,720 --> 00:10:16,480 is our cost. 220 00:10:16,720 --> 00:10:18,520 And we sell it 221 00:10:18,600 --> 00:10:20,680 for Rs. 2,700 including GST. 222 00:10:20,800 --> 00:10:23,000 Which makes our profit margin approximately 223 00:10:23,120 --> 00:10:25,120 30-35%. 224 00:10:25,200 --> 00:10:26,440 You make a profit of Rs. 1,000. 225 00:10:26,520 --> 00:10:29,040 Yes, Rs. 1,000 is our profit. 226 00:10:29,200 --> 00:10:30,560 It's the gross profit. 227 00:10:30,720 --> 00:10:31,880 Moving forward, 228 00:10:32,000 --> 00:10:34,600 will you only manufacture the hardware for these drones 229 00:10:34,720 --> 00:10:36,320 or also the software? 230 00:10:36,480 --> 00:10:38,600 And will you also provide services for it? 231 00:10:38,720 --> 00:10:40,800 We will build the manufacturing set-up. 232 00:10:40,880 --> 00:10:43,080 We are not going into the services sector. 233 00:10:43,360 --> 00:10:46,560 Till now, we were working on the hardware. 234 00:10:46,640 --> 00:10:49,320 As the company keeps growing, we want to 235 00:10:49,400 --> 00:10:52,760 create an ecosystem of hardware and software. 236 00:10:54,280 --> 00:10:58,000 Do you have any idea about a remote car company brand? 237 00:10:58,800 --> 00:11:00,880 Any company that's become big in the world? 238 00:11:03,160 --> 00:11:05,280 - No. - No, because they all got commoditised. 239 00:11:05,920 --> 00:11:09,000 Consumer hardware applications for drones 240 00:11:09,120 --> 00:11:11,280 will be completely commoditised. 241 00:11:12,800 --> 00:11:16,000 You claim to be alone because of regulations. 242 00:11:16,240 --> 00:11:18,320 It is only a matter of time before there are hundreds. 243 00:11:18,400 --> 00:11:22,120 The services space is being managed by a lot of big companies. 244 00:11:22,240 --> 00:11:24,480 So I think it will be very competitive. 245 00:11:24,880 --> 00:11:27,240 [dramatic music] 246 00:11:27,720 --> 00:11:30,120 For these reasons, I'm out. I wish you the best. 247 00:11:30,800 --> 00:11:32,360 Thank you, sir. 248 00:11:33,880 --> 00:11:36,720 What have we created ourselves? Have we just assembled parts? 249 00:11:36,840 --> 00:11:39,280 Or have we written a program? 250 00:11:39,360 --> 00:11:40,640 Or have we made an intellectual property 251 00:11:40,720 --> 00:11:41,720 because of which we are different? 252 00:11:41,800 --> 00:11:43,840 Basically the assembly of the drone, 253 00:11:43,920 --> 00:11:46,400 and then the software needed, 254 00:11:46,640 --> 00:11:49,960 require many lines of coding. 255 00:11:50,120 --> 00:11:52,600 I want to know about it. What coding did you require for it? 256 00:11:52,680 --> 00:11:55,520 A drone has a flight controller 257 00:11:55,680 --> 00:11:57,760 which acts as the drone's brain. 258 00:11:57,880 --> 00:12:01,240 So we do programming for the flight controller. 259 00:12:01,400 --> 00:12:04,160 We are designing new models 260 00:12:04,280 --> 00:12:08,120 and we'll get them patented within a year. 261 00:12:08,240 --> 00:12:09,560 Did you get any patents till now? 262 00:12:09,800 --> 00:12:11,120 No, sir! 263 00:12:12,240 --> 00:12:14,440 Our company is just two years old. 264 00:12:14,520 --> 00:12:17,640 - But once we get funding, we'll focus on design... - Hold on! 265 00:12:17,720 --> 00:12:18,960 What do you mean by funding? 266 00:12:20,920 --> 00:12:22,200 Did you already receive funding? 267 00:12:22,320 --> 00:12:26,560 - Yes! - Yes! We raised Rs. 25 lakhs 268 00:12:26,680 --> 00:12:29,320 at a valuation of Rs. 12.5 crores. Also, 269 00:12:29,520 --> 00:12:31,440 we have received Rs. 10 lakhs as a grant 270 00:12:31,720 --> 00:12:34,480 from the government of India, Nidhi-prayas, VIT TBI. 271 00:12:36,120 --> 00:12:38,760 Where do you sell? Where did you sell your products? 272 00:12:38,840 --> 00:12:41,640 We sell our products through our website. 273 00:12:41,760 --> 00:12:43,200 How do you attract customers to your website? 274 00:12:43,320 --> 00:12:45,840 In these two years, we focused 275 00:12:46,000 --> 00:12:48,680 on organic marketing which is word-of-mouth marketing. 276 00:12:48,760 --> 00:12:51,440 - We didn't spend a single penny on marketing. - Wow! 277 00:12:51,560 --> 00:12:54,840 That's how we are growing. And now, we're a young profitable startup. 278 00:12:55,720 --> 00:12:58,520 As far as I understand, it's an early stage. 279 00:12:58,680 --> 00:13:00,520 But you three are superb. 280 00:13:01,040 --> 00:13:02,800 We can stake our money on you. 281 00:13:03,120 --> 00:13:05,720 So we'll give you Rs. 50 lakhs. 282 00:13:05,840 --> 00:13:07,400 I'll give you Rs. 25 lakhs and Aman will give you Rs. 25 lakhs. 283 00:13:07,480 --> 00:13:11,640 Plus, Rs. 25 lakhs in debt. Aman and I will give Rs. 12.5 lakhs each. 284 00:13:12,680 --> 00:13:16,440 And we are giving you Rs. 50 lakhs for 20% equity. 285 00:13:16,520 --> 00:13:17,600 Eh? 286 00:13:18,400 --> 00:13:19,800 That's it! That's it? 287 00:13:20,880 --> 00:13:23,880 The reason is, we are taking a risk. 288 00:13:26,200 --> 00:13:27,840 What is your interest rate on the loan? 289 00:13:29,600 --> 00:13:33,960 No interest on the loan. I don't want any interest on Rs. 25 lakhs. 290 00:13:36,600 --> 00:13:38,600 - I have one last question. - One more question? 291 00:13:40,640 --> 00:13:41,680 Are you making an offer? 292 00:13:41,800 --> 00:13:44,000 Is it allowed to ask a question before making an offer? 293 00:13:44,120 --> 00:13:46,320 - Of course! - You may ask a question. 294 00:13:47,440 --> 00:13:49,680 You said that you didn't spend money on marketing 295 00:13:49,760 --> 00:13:51,840 - for your sales. - No! 296 00:13:51,920 --> 00:13:53,880 - You sold your product through your website. - Yes! 297 00:13:53,960 --> 00:13:57,560 I want to know your secret. How are you attracting sales organically? 298 00:13:57,680 --> 00:14:00,320 There's a blog section on our website. 299 00:14:00,400 --> 00:14:02,720 Content writers work for us from the very first day. 300 00:14:02,760 --> 00:14:04,960 They write the content and post it. 301 00:14:05,040 --> 00:14:07,880 You should have said it before. It's a strong point. 302 00:14:08,200 --> 00:14:10,960 Actually, they want to check what you have already done. 303 00:14:11,080 --> 00:14:13,560 But we want to check your scope. That's the only difference. 304 00:14:14,120 --> 00:14:17,120 Let me talk to Namita first. Then we'll make an offer. 305 00:14:18,840 --> 00:14:21,200 Amit, I hope you don't have any more questions. 306 00:14:21,320 --> 00:14:22,560 Otherwise, you'd complain later. 307 00:14:22,720 --> 00:14:25,080 - Anupam, I could ask more questions. - Good! 308 00:14:25,160 --> 00:14:28,160 [suspenseful music] 309 00:14:33,200 --> 00:14:34,920 We have an offer. 310 00:14:36,920 --> 00:14:40,280 Rs. 75 lakhs! We won't offer you a loan as it's complicated. 311 00:14:42,000 --> 00:14:45,200 As students, how will you return it? Student loans are more than enough. 312 00:14:46,800 --> 00:14:49,880 So we won't give you a loan. We offer Rs. 75 lakhs against equity. 313 00:14:49,960 --> 00:14:51,560 Namita and I will divide the amount. 314 00:14:51,720 --> 00:14:55,840 - The equity is 15% so the valuation is Rs. 5 crores. - Double valuation! 315 00:14:55,920 --> 00:14:57,400 They gave you a valuation of Rs. 2.5 crores. 316 00:14:57,520 --> 00:14:59,280 I'm confident that you'll succeed. 317 00:15:01,360 --> 00:15:02,640 That's our offer. 318 00:15:08,280 --> 00:15:10,200 We'd like to make a counteroffer. 319 00:15:10,280 --> 00:15:11,120 Go on! 320 00:15:13,760 --> 00:15:17,560 Rs. 75 lakhs for 5% equity. 321 00:15:18,200 --> 00:15:21,120 We want all four Sharks to come together 322 00:15:21,240 --> 00:15:22,480 and help us soar. 323 00:15:22,560 --> 00:15:26,320 We'll make sure, you won't regret investing money in our company. 324 00:15:26,400 --> 00:15:28,800 I won't agree to 5% equity. 325 00:15:31,040 --> 00:15:34,520 We can match their offer of Rs. 75 lakhs for 15% equity. 326 00:15:39,320 --> 00:15:42,680 We'll make a final offer as you want to bring about a change. 327 00:15:42,760 --> 00:15:45,280 - Our final offer is Rs. 75 lakhs for 12% equity. - 12%! 328 00:15:45,440 --> 00:15:47,240 And the valuation will be Rs. 6.25 crores. 329 00:15:49,600 --> 00:15:51,480 We gave you a better valuation. 330 00:15:54,920 --> 00:15:57,040 All of you together, can we make it 12%? 331 00:15:57,640 --> 00:16:00,360 [dramatic music] 332 00:16:04,040 --> 00:16:06,040 Let's do it! All four of us for 12%. 333 00:16:06,160 --> 00:16:07,480 No! Peyush opted out. 334 00:16:07,600 --> 00:16:09,880 - Please! Please, Peyush! Please! - Please! 335 00:16:09,960 --> 00:16:12,320 - Tell them. The kids want you to join. - Let's all do it. 336 00:16:17,400 --> 00:16:19,640 All four Sharks agree to join. But... 337 00:16:22,520 --> 00:16:25,120 We'll offer Rs. 75 lakhs for 15% equity. 338 00:16:25,200 --> 00:16:26,360 Please answer, yes or no. 339 00:16:33,120 --> 00:16:34,240 Deal done, Sharks! 340 00:16:34,320 --> 00:16:37,040 - Well done! - Nice! Good job! 341 00:16:37,320 --> 00:16:38,120 Good job, guys! 342 00:16:38,240 --> 00:16:42,520 So I'll give my cheque to India's first FPV woman pilot. 343 00:16:43,520 --> 00:16:44,760 - Thank you, ma'am! - Well done! 344 00:16:44,880 --> 00:16:46,960 - Wonderful! - Thank you! 345 00:16:47,040 --> 00:16:49,280 - Many congratulations! - Thank you, sir! 346 00:16:49,920 --> 00:16:52,080 - Here you are. - All the best! 347 00:16:52,440 --> 00:16:54,000 Good luck! 348 00:18:14,880 --> 00:18:18,320 Sharks, there are several taxes nowadays. 349 00:18:18,600 --> 00:18:22,920 Property tax, wealth tax, income tax and now there's a fat tax too. 350 00:18:23,960 --> 00:18:26,560 Suppose, you go shopping 351 00:18:26,680 --> 00:18:30,560 and you like a garment which costs Rs. 1,000. 352 00:18:31,000 --> 00:18:33,160 And if you want that garment 353 00:18:33,240 --> 00:18:35,280 in sizes above XL and XXL, 354 00:18:35,360 --> 00:18:39,200 chances are that you will have to pay extra for that piece of garment. 355 00:18:39,400 --> 00:18:41,480 - This is known as the fat tax! - Ouch! 356 00:18:41,720 --> 00:18:44,360 And, Sharks, there was a need for a brand 357 00:18:44,440 --> 00:18:47,000 that honours a person's individuality. 358 00:18:47,160 --> 00:18:48,840 And hence, Angrakhaa was born. 359 00:18:52,040 --> 00:18:55,280 Angrakhaa is an online size-inclusive clothing brand 360 00:18:55,520 --> 00:19:00,200 which makes extremely fashionable, cool and trendy clothes 361 00:19:00,360 --> 00:19:01,600 for all sizes. 362 00:19:02,280 --> 00:19:06,120 It includes various categories like dresses, skirts, 363 00:19:06,400 --> 00:19:08,800 co-ord sets and also Indian wear. 364 00:19:09,040 --> 00:19:10,080 I see! 365 00:19:10,200 --> 00:19:13,280 Our specialisation is customisation. 366 00:19:13,440 --> 00:19:17,680 And the most important thing is that all sizes are priced the same. 367 00:19:18,040 --> 00:19:20,440 We don't discriminate. 368 00:19:22,160 --> 00:19:26,640 We've fulfilled the orders of over 10,000 customers till now. 369 00:19:26,720 --> 00:19:30,400 And we have more than 55,000 followers on social media. 370 00:19:30,600 --> 00:19:31,360 Wow! 371 00:19:31,480 --> 00:19:34,680 And we are all set to enter the Indian wedding market 372 00:19:34,760 --> 00:19:36,920 - for both men's and women's wear. - Wow! 373 00:19:37,640 --> 00:19:40,080 We want to make Angrakhaa a global brand 374 00:19:40,160 --> 00:19:42,040 in the size-inclusive category 375 00:19:42,880 --> 00:19:45,280 so that when people go shopping, they don't say, 376 00:19:45,520 --> 00:19:47,280 "I wish it was available in my size!" 377 00:19:47,360 --> 00:19:49,040 [laughing] 378 00:19:50,200 --> 00:19:52,560 Hello, Sharks! I'm Asana Riamei. 379 00:19:52,720 --> 00:19:54,160 And I'm Vishakha Bhaskkar. 380 00:19:54,240 --> 00:19:56,800 Both of us are co-founders of Angrakhaa. 381 00:19:58,160 --> 00:20:02,240 Sharks, our ask is Rs. 40 lakhs for 5% equity. 382 00:20:02,320 --> 00:20:04,000 [upbeat music] 383 00:20:04,600 --> 00:20:07,520 And now, Sharks, presenting to you, Angrakhaa! 384 00:20:08,280 --> 00:20:10,560 [vocalising] 385 00:20:26,240 --> 00:20:28,320 [vocalising] 386 00:20:45,160 --> 00:20:48,800 Sharks, this is what size inclusivity looks like. 387 00:20:49,000 --> 00:20:51,360 - Thank you so much, girls, for being here today! - Thank you! 388 00:20:51,480 --> 00:20:53,520 - Thank you, guys! - Amazing presentation! 389 00:20:53,600 --> 00:20:54,400 - Thank you! - Thank you! 390 00:20:54,480 --> 00:20:56,440 - Welcome to Shark Tank season 2! - Thank you so much! 391 00:20:56,840 --> 00:20:58,440 - So your name is Vishakha. - That's right. 392 00:20:58,520 --> 00:20:59,800 I didn't catch your name. 393 00:20:59,880 --> 00:21:01,120 - Asana! - Asana! 394 00:21:01,200 --> 00:21:02,760 - Yes! - What does Asana mean? 395 00:21:02,920 --> 00:21:04,600 It's my pet name. 396 00:21:05,360 --> 00:21:07,400 - Actually, I hail from Manipur. - Wow! 397 00:21:07,520 --> 00:21:09,480 My original name is too long. 398 00:21:09,600 --> 00:21:11,640 People often mispronounce, 399 00:21:11,920 --> 00:21:14,640 so my parents gave me a short name 400 00:21:14,880 --> 00:21:16,080 so that it's easier for other people to pronounce it. 401 00:21:16,160 --> 00:21:17,000 [laughing] 402 00:21:17,080 --> 00:21:19,160 - 'Aasan' means Asana. - Yes! 403 00:21:19,440 --> 00:21:20,800 It's suffixed with 'na'. 404 00:21:21,200 --> 00:21:22,160 So sweet! 405 00:21:22,320 --> 00:21:25,440 But please tell us your original name. We'd like to hear it. 406 00:21:25,680 --> 00:21:27,800 Sangailungliu Riamei. 407 00:21:27,960 --> 00:21:29,000 Oh, wow! 408 00:21:29,240 --> 00:21:33,560 First, I'd like to know the story of your journey and your background. 409 00:21:33,760 --> 00:21:35,360 I studied at Shri Ram College of Commerce. 410 00:21:35,440 --> 00:21:37,480 I completed my honours degree in economics. 411 00:21:37,640 --> 00:21:39,720 But I didn't have an interest in that field. 412 00:21:39,840 --> 00:21:41,400 So in my second year of college, 413 00:21:41,520 --> 00:21:43,040 I started writing fashion blogs. 414 00:21:43,160 --> 00:21:45,640 Mostly on mid-size and plus-size fashion. 415 00:21:45,720 --> 00:21:50,200 Throughout my journey, I connected with numerous girls 416 00:21:50,320 --> 00:21:53,440 who made me realise that they faced a similar problem. 417 00:21:53,640 --> 00:21:56,880 The manufacturers forget about style and fashion 418 00:21:56,960 --> 00:22:00,040 when they make plus-size clothes. They just make outfits. 419 00:22:00,280 --> 00:22:02,840 After my college, 420 00:22:02,920 --> 00:22:06,280 when I joined my first design and fashion job, I met Asana. 421 00:22:07,880 --> 00:22:09,800 After approximately two years, 422 00:22:09,880 --> 00:22:12,560 I decided to start my business. 423 00:22:12,640 --> 00:22:15,520 So I started my business and I contacted Asana after a year. 424 00:22:15,640 --> 00:22:17,280 I asked her if she'd like to join me. 425 00:22:17,360 --> 00:22:18,800 And she was all game for it. 426 00:22:18,920 --> 00:22:20,000 Awesome! 427 00:22:21,600 --> 00:22:22,920 Asana, please tell us something about yourself. 428 00:22:23,120 --> 00:22:25,560 Actually, I came to Delhi to study in a college. 429 00:22:25,760 --> 00:22:28,400 Simultaneously, I was working and supporting myself. 430 00:22:28,480 --> 00:22:29,440 Wow! 431 00:22:30,400 --> 00:22:32,080 When I joined the fashion industry, 432 00:22:32,120 --> 00:22:34,840 I felt it suited me 433 00:22:34,920 --> 00:22:37,760 because I like to design clothes. 434 00:22:38,920 --> 00:22:41,800 Ms. Asana, which place do you exactly belong to in Manipur? 435 00:22:41,960 --> 00:22:44,720 I belong to Tamenglong. It's one of the most underdeveloped 436 00:22:44,960 --> 00:22:46,480 districts in India. 437 00:22:46,920 --> 00:22:48,880 - Oh! - What's the total population? 438 00:22:48,960 --> 00:22:50,720 It's around 30,000 to 40,000. 439 00:22:50,800 --> 00:22:51,960 It's a small town. 440 00:22:52,040 --> 00:22:54,800 Very few people must be coming to Delhi to study in college. 441 00:22:54,920 --> 00:22:58,040 - Yes! - So your journey to Delhi 442 00:22:58,200 --> 00:22:59,840 is in itself a huge step. 443 00:22:59,960 --> 00:23:01,880 My dad supported me all through. 444 00:23:02,000 --> 00:23:03,280 - Oh, wow! - Alright! 445 00:23:03,400 --> 00:23:05,800 He wanted me to go to Delhi and explore. 446 00:23:05,920 --> 00:23:09,160 He was supportive. And that helped me reach here. 447 00:23:12,160 --> 00:23:16,320 Asana and Vishakha, body-shaming is prevalent in India. 448 00:23:16,400 --> 00:23:18,200 - People call a fat person, "fatso"! - Yes! 449 00:23:18,360 --> 00:23:20,080 I have also been at the receiving end. 450 00:23:20,160 --> 00:23:24,400 Why didn't you decide to make clothes 451 00:23:24,680 --> 00:23:27,400 - only for the plus size instead of all the sizes? - Yes! 452 00:23:27,880 --> 00:23:29,760 I think the biggest problem 453 00:23:29,840 --> 00:23:31,880 in the plus-size industry is, 454 00:23:31,960 --> 00:23:34,920 they treat plus-sized people like outcasts. 455 00:23:35,080 --> 00:23:36,880 We make them feel inclusive. 456 00:23:37,040 --> 00:23:39,600 We don't have a separate set of collections for them 457 00:23:39,680 --> 00:23:41,680 or a separate size chart. 458 00:23:42,080 --> 00:23:43,560 We make them an integral part of clothing. 459 00:23:43,840 --> 00:23:47,760 But your bulk business 460 00:23:48,080 --> 00:23:50,400 will be generated by the plus-sized clothes. Correct? 461 00:23:51,200 --> 00:23:53,840 Not really! Our website shows 462 00:23:53,960 --> 00:23:55,560 a 50:50 ratio 463 00:23:55,640 --> 00:23:57,480 between the normal sizes and the plus sizes. 464 00:23:57,600 --> 00:24:00,640 We do not promote ourselves as a plus-size brand. 465 00:24:00,920 --> 00:24:04,640 - Okay. - We want to say that we're solving the problem of plus sized 466 00:24:04,880 --> 00:24:08,360 but we are a size-inclusive brand. Because let's just face it, 467 00:24:08,600 --> 00:24:12,000 maybe plus-sized people are embarrassed to buy clothes 468 00:24:12,120 --> 00:24:13,480 from a plus-size brand. 469 00:24:13,560 --> 00:24:14,560 Good point! 470 00:24:14,560 --> 00:24:16,720 - It's a genuine problem. - That's true. 471 00:24:16,960 --> 00:24:19,080 - Can you show us your website? - Sure! 472 00:24:21,800 --> 00:24:23,120 Oh, nice! 473 00:24:25,960 --> 00:24:26,920 Very nice! 474 00:24:27,040 --> 00:24:29,880 It's New Age designing. Who did the design? 475 00:24:29,960 --> 00:24:30,960 I did it. 476 00:24:31,040 --> 00:24:33,720 - Fabulous! Amazing look. - Thank you! 477 00:24:33,880 --> 00:24:35,920 [inspirational music] 478 00:24:37,480 --> 00:24:38,880 What's the meaning of your logo? 479 00:24:38,960 --> 00:24:42,360 In Sanskrit, 'angrakhaa' means protector of your body. 480 00:24:42,600 --> 00:24:44,960 - Yes. - And it's the style of kurta 481 00:24:45,040 --> 00:24:47,120 worn by Lord Krishna in mythological serials. 482 00:24:47,200 --> 00:24:49,160 I think it's an ethnic-wear brand. 483 00:24:49,240 --> 00:24:51,680 We were very clear from the beginning 484 00:24:51,760 --> 00:24:54,040 that Angrakhaa could become global in future, 485 00:24:54,160 --> 00:24:56,360 so people must come to know that it's an Indian brand. 486 00:24:57,120 --> 00:24:58,240 What are your sales figures? 487 00:24:58,520 --> 00:25:00,320 When we started before Covid, 488 00:25:00,480 --> 00:25:03,120 we made sales worth Rs. 14 lakhs. 489 00:25:03,240 --> 00:25:05,680 During Covid, we made sales worth Rs. 7 lakhs. 490 00:25:05,760 --> 00:25:09,360 And in the last financial year, our sales were Rs. 1.16 crores. 491 00:25:09,800 --> 00:25:11,120 - Wow! - Wonderful! 492 00:25:12,640 --> 00:25:13,680 [chuckling] 493 00:25:13,800 --> 00:25:15,640 - Well done! - Thank you! 494 00:25:15,800 --> 00:25:18,880 How did you reach Rs. 1.16 crores from Rs. 7 lakhs magically? 495 00:25:19,000 --> 00:25:20,960 When we started this business, 496 00:25:21,120 --> 00:25:23,240 Asana brought her technical knowledge 497 00:25:23,360 --> 00:25:25,760 and I utilised my knowledge of social media, 498 00:25:25,840 --> 00:25:27,520 and my managerial knowledge. 499 00:25:27,680 --> 00:25:30,840 - But we forgot about performance marketing. - Hmm! 500 00:25:30,920 --> 00:25:32,800 That was a big factor. 501 00:25:32,880 --> 00:25:36,600 We studied it during two years of Covid 502 00:25:36,680 --> 00:25:38,440 through various small courses. 503 00:25:38,600 --> 00:25:41,080 And then we applied our knowledge. 504 00:25:41,160 --> 00:25:44,280 And these sales are only through Facebook ads. 505 00:25:45,160 --> 00:25:48,560 These are only through your site. Don't you sell in the marketplace? 506 00:25:48,680 --> 00:25:50,960 - Yes! We sell only through our website. - Only through the website. 507 00:25:51,040 --> 00:25:53,080 Why didn't you explore the marketplaces? 508 00:25:53,520 --> 00:25:56,840 Marketplaces are always in a rush. They want it the very next day. 509 00:25:57,080 --> 00:25:59,960 - If the customer cancels the order, we bear the brunt. - That's true. 510 00:26:00,120 --> 00:26:03,760 - So we don't have an inventory to dispatch it the next day. - Yes. 511 00:26:03,920 --> 00:26:06,520 Once an order is placed, in how many days do you deliver the product? 512 00:26:06,600 --> 00:26:08,600 Usually, we dispatch in 7-8 days. 513 00:26:08,880 --> 00:26:12,240 But that's not a problem point for our customers till now. 514 00:26:12,320 --> 00:26:15,600 But the problem is, when you go for customisation, 515 00:26:15,680 --> 00:26:18,880 you can't manufacture on the fly. 516 00:26:19,800 --> 00:26:23,280 We get only 27% of customisation requests. 517 00:26:23,440 --> 00:26:24,680 Interesting! 518 00:26:25,240 --> 00:26:27,560 And the rest are picked from the available sizes. 519 00:26:29,120 --> 00:26:32,000 What is your sales run rate in the last 2-3 months? 520 00:26:32,080 --> 00:26:36,280 In the month of May, we made sales worth Rs. 13 lakhs. 521 00:26:36,480 --> 00:26:38,320 In June, we made sales worth Rs. 15 lakhs. 522 00:26:38,400 --> 00:26:40,360 And in July, we made sales worth Rs. 24 lakhs. 523 00:26:41,280 --> 00:26:44,400 Wow! Did you increase the marketing expenditure in July? 524 00:26:44,480 --> 00:26:48,400 We increased the marketing expenses and explored new model collections. 525 00:26:49,000 --> 00:26:51,600 We were dealing in solids till now. So we expanded into prints. 526 00:26:51,880 --> 00:26:55,400 We sold it as an exclusive for a limited time period. 527 00:26:55,520 --> 00:26:57,840 Customers could buy it immediately or else, it would be out of stock. 528 00:26:58,160 --> 00:27:00,040 It was a small batch production and we sold out. 529 00:27:00,120 --> 00:27:01,600 - Nice! - Good strategy. 530 00:27:01,800 --> 00:27:04,040 How much did you spend on marketing to get a sale of Rs. 24 lakhs? 531 00:27:04,120 --> 00:27:05,280 We spent Rs. 2.9 lakhs. 532 00:27:06,240 --> 00:27:07,840 - That's it? - That's it! 533 00:27:09,720 --> 00:27:11,720 Please explain the unit economics to us. 534 00:27:11,840 --> 00:27:14,240 - Your cost of production and your selling price. - Yes! 535 00:27:14,320 --> 00:27:17,560 Let's take one dress for example. 536 00:27:17,720 --> 00:27:19,400 Its price is Rs. 2,900. 537 00:27:19,480 --> 00:27:22,040 Its production cost is Rs. 900. 538 00:27:22,240 --> 00:27:25,920 - It includes raw material, zip, stitching, and button. - Everything? 539 00:27:26,040 --> 00:27:28,320 Yes! And the GST is extra. 540 00:27:28,400 --> 00:27:29,720 What's the GST percentage? 541 00:27:29,800 --> 00:27:30,960 - 12%! - 12%! 542 00:27:31,040 --> 00:27:34,520 - Let's subtract Rs. 335. Right? - Rs. 1,700 remains. 543 00:27:34,680 --> 00:27:36,720 How much are the logistics? Around Rs. 150? 544 00:27:36,840 --> 00:27:37,720 - Rs. 100! - Rs. 100! 545 00:27:38,000 --> 00:27:40,520 - What's the marketing cost for this? - Around Rs. 300. 546 00:27:40,640 --> 00:27:44,080 After selling your products... For example, you sold it for Rs. 2,900. 547 00:27:44,520 --> 00:27:47,920 So in the end, you saved Rs. 1,500. Correct? 548 00:27:48,160 --> 00:27:50,520 - Rs. 1,200 is saved! - You are left with Rs. 1,200. 549 00:27:50,600 --> 00:27:51,520 Yes! 550 00:27:52,160 --> 00:27:53,160 What is your net profit? 551 00:27:53,280 --> 00:27:55,520 Last year, our net profit was too less. 552 00:27:55,600 --> 00:27:57,000 It was around 20%. 553 00:27:57,280 --> 00:28:00,440 But in FY 22-23, our net profit 554 00:28:00,520 --> 00:28:02,320 is already 35%. 555 00:28:02,440 --> 00:28:05,600 You are earning around Rs. 1 crore through your business yearly 556 00:28:05,720 --> 00:28:08,360 - which is commendable! Amazing! - Amazing! 557 00:28:10,360 --> 00:28:11,600 I hope you know this. 558 00:28:11,760 --> 00:28:13,120 We try to underplay it. But it's okay! 559 00:28:13,280 --> 00:28:15,080 [laughing] 560 00:28:15,440 --> 00:28:16,800 She's too humble. 561 00:28:17,720 --> 00:28:22,080 What is your repeat order rate? How many customers reorder? 562 00:28:22,280 --> 00:28:24,240 27% of customers are our repeat customers. 563 00:28:24,480 --> 00:28:26,800 - Amazing! - I have made my decision. 564 00:28:27,840 --> 00:28:30,600 Ms. Asana, I must say that you inspired me. 565 00:28:30,720 --> 00:28:31,800 Thank you, Shark! 566 00:28:31,920 --> 00:28:36,000 You're doing so well that you must rethink asking for investment. 567 00:28:36,080 --> 00:28:37,880 [suspenseful music] 568 00:28:40,640 --> 00:28:43,680 If you still want it, multiple categories will be a problem 569 00:28:43,760 --> 00:28:46,280 because the scale expectation will be very high in that case. 570 00:28:46,360 --> 00:28:49,200 But there's no guarantee that you would earn the same amount. 571 00:28:52,320 --> 00:28:53,720 So I want to be out. 572 00:28:54,600 --> 00:28:57,880 But I wish you the best of luck and you're doing very well. 573 00:28:57,960 --> 00:28:58,960 - Thank you, Shark! - Thank you! 574 00:28:59,200 --> 00:29:02,680 When an investor invests in your business, 575 00:29:03,760 --> 00:29:07,840 they get the exit 576 00:29:07,920 --> 00:29:09,640 from two to three avenues. 577 00:29:09,720 --> 00:29:12,520 One is by raising more funds. 578 00:29:12,600 --> 00:29:14,240 That will help us exit. 579 00:29:15,080 --> 00:29:17,640 Or a bigger company could acquire you. 580 00:29:17,720 --> 00:29:20,640 The third option is to go for an IPO. 581 00:29:20,720 --> 00:29:23,720 You will use our stake in the IPO market to earn returns. 582 00:29:24,800 --> 00:29:27,880 When we say that your business isn't investible, 583 00:29:28,160 --> 00:29:32,280 it means that your business wouldn't grow enough 584 00:29:32,480 --> 00:29:36,560 for us to get a visibility of these three to four options. 585 00:29:39,520 --> 00:29:41,600 For this reason, I'm out. 586 00:29:42,080 --> 00:29:43,160 - Thank you! - Thank you! 587 00:29:43,320 --> 00:29:45,520 Asana and Vishakha, I'm also out. 588 00:29:47,520 --> 00:29:49,960 I think your brand strategy is confusing. 589 00:29:51,520 --> 00:29:53,800 If you had claimed to sell only plus size products, 590 00:29:53,880 --> 00:29:56,720 I would have looked at it from one point of view. 591 00:29:56,920 --> 00:29:59,360 But you said that you sell plus size products and other items too. 592 00:30:00,960 --> 00:30:02,840 But all the best, guys! 593 00:30:03,000 --> 00:30:04,200 - Thank you! - Thank you, Shark! 594 00:30:04,320 --> 00:30:07,080 It's wonderful that you are so successful. 595 00:30:09,080 --> 00:30:11,520 It's not easy to get a 30% margin. 596 00:30:14,400 --> 00:30:17,240 But it's really tough to move further. 597 00:30:17,360 --> 00:30:18,800 [tense music] 598 00:30:19,800 --> 00:30:24,560 Unless you present your USP to your customer 599 00:30:25,680 --> 00:30:28,800 and a clean image of your product... 600 00:30:29,000 --> 00:30:32,040 I can't see the USP, so I'm out. 601 00:30:33,800 --> 00:30:35,680 I want to make an offer. 602 00:30:35,760 --> 00:30:36,840 Wow! 603 00:30:37,800 --> 00:30:38,600 Wow! 604 00:30:38,680 --> 00:30:40,840 In your case, it's a digital marketing game. 605 00:30:40,920 --> 00:30:44,000 You have expertise in fashion. My expertise is in digital marketing. 606 00:30:44,120 --> 00:30:46,040 I think I can help you 607 00:30:46,120 --> 00:30:48,600 in boosting the sales from current numbers to much higher numbers. 608 00:30:49,360 --> 00:30:52,480 You asked Rs. 40 lakhs for 5% equity. 609 00:30:52,880 --> 00:30:55,240 It's no use working for you for such a small equity. 610 00:30:55,360 --> 00:30:58,240 So my offer is Rs. 40 lakhs for 20% equity. 611 00:30:59,120 --> 00:31:00,080 Okay. 612 00:31:00,160 --> 00:31:01,640 I estimated your valuation to be Rs. 2 crores. 613 00:31:07,360 --> 00:31:10,360 We'd like to give a counteroffer. 614 00:31:13,120 --> 00:31:16,240 Can we get the same amount for 15% equity? 615 00:31:16,400 --> 00:31:19,920 I want 20% equity because there's a lot to be done. Believe me! 616 00:31:20,360 --> 00:31:22,280 And I'll deliver value to you for sure. 617 00:31:24,480 --> 00:31:27,920 Your business isn't investible as is. 618 00:31:28,200 --> 00:31:30,840 - His work is to make your business investible. - Correct! 619 00:31:31,040 --> 00:31:33,240 Right now, it's a good personal business. 620 00:31:34,680 --> 00:31:36,400 - So that's your last offer? - That's my last offer. 621 00:31:36,520 --> 00:31:38,240 Let's go! 622 00:31:38,680 --> 00:31:39,680 - Alright. - It's a deal! 623 00:31:39,760 --> 00:31:41,160 - Go for it. You should! - It's a deal. 624 00:31:41,600 --> 00:31:42,640 So it's a done deal! 625 00:31:42,720 --> 00:31:43,880 Awesome! 626 00:31:44,280 --> 00:31:45,600 - Amazing! - Great, guys! 627 00:31:45,680 --> 00:31:47,840 Now Amit will help you. May God protect you! 628 00:31:48,200 --> 00:31:50,040 [laughing] 629 00:31:50,400 --> 00:31:51,760 In a good way! 630 00:31:53,600 --> 00:31:55,800 - You are an inspiration. Congratulations! - Thank you, sir! 631 00:31:55,920 --> 00:31:57,360 - Thank you! - Thank you! 632 00:31:58,080 --> 00:31:59,600 Keep rocking! And looking forward to working with you. 633 00:31:59,680 --> 00:32:00,520 - Thank you so much! - Thanks! 634 00:32:00,600 --> 00:32:02,360 - Thank you so much, Sharks! - Thank you! 635 00:32:02,440 --> 00:32:03,520 Alright, guys! 636 00:32:03,680 --> 00:32:04,920 - Yay! - Yay! 637 00:32:08,800 --> 00:32:12,120 'Our group must be a part of history books.' 638 00:32:12,200 --> 00:32:14,200 [vocalising] 639 00:32:14,880 --> 00:32:17,960 'Build something that will last longer than all of us.' 640 00:32:19,440 --> 00:32:21,760 [vocalising] 641 00:32:22,800 --> 00:32:24,080 My name is Amit Jain. 642 00:32:24,240 --> 00:32:26,520 I'm the co-founder and CEO of CarDekho. 643 00:32:31,200 --> 00:32:33,680 And I started this company along with my brother Anurag. 644 00:32:36,160 --> 00:32:37,520 I'm from Jaipur. 645 00:32:41,280 --> 00:32:42,400 My dad worked in the Reserve Bank of India 646 00:32:42,440 --> 00:32:43,680 and my grandfather was a government employee. 647 00:32:43,760 --> 00:32:47,080 So we weren't affluent. We had limited amenities. 648 00:32:49,000 --> 00:32:51,200 I saw my dad and my grandfather 649 00:32:51,280 --> 00:32:53,560 take care of the family with limited means. 650 00:32:53,840 --> 00:32:55,960 I learnt to stand by others through thick and thin. 651 00:32:56,040 --> 00:32:58,160 I learnt to stay happy by making compromises. 652 00:33:00,880 --> 00:33:03,440 Anurag's support made my journey enjoyable. 653 00:33:04,560 --> 00:33:07,000 Initially, when the business started we faced numerous difficulties. 654 00:33:07,760 --> 00:33:12,080 Because in the beginning, our office was in the garage. 655 00:33:12,200 --> 00:33:15,560 There were cubicles on both sides. 656 00:33:15,800 --> 00:33:19,280 Ten people could sit here. And there was a training room where I taught. 657 00:33:19,480 --> 00:33:21,840 The IT industry hadn't evolved in Jaipur back then. 658 00:33:22,240 --> 00:33:25,000 So we invited software developers from local companies. 659 00:33:25,320 --> 00:33:27,760 After seeing our setup, they didn't give the interview. 660 00:33:28,280 --> 00:33:29,720 So we didn't know what to do. 661 00:33:29,880 --> 00:33:31,520 We decided 662 00:33:31,640 --> 00:33:34,280 to visit the engineering colleges in and around Jaipur. 663 00:33:34,440 --> 00:33:37,200 So we attracted the freshers. 664 00:33:37,840 --> 00:33:40,200 And our team had only freshers. 665 00:33:40,440 --> 00:33:43,720 Anurag and I trained them. We taught them coding through the night. 666 00:33:44,080 --> 00:33:46,160 We trained them one-on-one. 667 00:33:46,280 --> 00:33:49,640 The team of freshers lead our company now. 668 00:33:49,840 --> 00:33:51,680 [triumphant music] 669 00:33:52,280 --> 00:33:55,400 I don't act like a boss. All of us are like a family. 670 00:33:56,320 --> 00:34:00,040 We work on the ground connect diligently. 671 00:34:00,240 --> 00:34:02,160 We value the ability of a person. 672 00:34:04,640 --> 00:34:08,040 I'm focused on impact. I strive to make a large impact. 673 00:34:08,320 --> 00:34:10,480 Shark Tank gave me an opportunity 674 00:34:10,680 --> 00:34:14,240 to listen to plenty of new ideas and support 675 00:34:14,320 --> 00:34:15,680 the right founders. 676 00:34:15,760 --> 00:34:17,680 I think every founder can teach us. 677 00:34:17,760 --> 00:34:19,840 You would teach them and learn in the process. 678 00:34:20,240 --> 00:34:21,840 'CarDekho Mall' 679 00:34:22,400 --> 00:34:23,640 'Amit will be the best Shark.' 680 00:34:23,760 --> 00:34:25,480 'I think he was born for this.' 681 00:34:25,560 --> 00:34:29,560 I think Amit can bring out the best in any entrepreneur. 682 00:34:29,680 --> 00:34:33,440 [shouting] 683 00:34:33,520 --> 00:34:35,120 Keep running! 684 00:34:38,240 --> 00:34:39,560 I don't like to fail. 685 00:34:40,120 --> 00:34:41,480 I'll make a deal if I like it. 686 00:34:41,560 --> 00:34:43,800 I'm here to make big deals. The big Shark is here. 687 00:34:44,160 --> 00:34:46,720 [vocalising] 688 00:35:01,960 --> 00:35:04,240 [ethereal music] 689 00:35:06,720 --> 00:35:08,880 [epic music] 690 00:35:22,280 --> 00:35:24,120 - Greetings, Sharks! - Greetings! 691 00:35:24,200 --> 00:35:28,000 Diabetes isn't a new word for us. 692 00:35:28,160 --> 00:35:29,720 If we check our surroundings, 693 00:35:29,800 --> 00:35:31,760 we can meet many diabetic people. 694 00:35:31,840 --> 00:35:33,240 And the remaining will be diagnosed with diabetes very soon. 695 00:35:33,320 --> 00:35:35,120 Please don't say that. [chuckling] 696 00:35:35,240 --> 00:35:36,240 What are you saying? 697 00:35:36,360 --> 00:35:38,320 The main reason that leads to diabetes is our diet. 698 00:35:39,440 --> 00:35:41,440 Although we are vegetarians, 699 00:35:41,560 --> 00:35:42,960 we don't eat vegetables. 700 00:35:43,040 --> 00:35:45,080 We just eat grains for the entire day. 701 00:35:45,160 --> 00:35:48,040 So basically, we aren't vegetarians but 'grainitarians'. 702 00:35:48,120 --> 00:35:49,560 But grains 703 00:35:49,640 --> 00:35:51,320 increase the blood sugar level 704 00:35:51,400 --> 00:35:54,000 because they have a high glycaemic load. 705 00:35:54,840 --> 00:35:57,920 You must be wondering what glycaemic load means. 706 00:35:58,000 --> 00:36:01,320 Glycaemic load is a parameter to measure 707 00:36:01,400 --> 00:36:03,560 the increase in the blood sugar level 708 00:36:03,640 --> 00:36:06,600 after eating a particular food item. 709 00:36:07,520 --> 00:36:09,280 For example, wheat flour. 710 00:36:09,400 --> 00:36:11,040 If we use 100 grams of wheat flour 711 00:36:11,120 --> 00:36:13,160 to make four to five rotis, 712 00:36:13,240 --> 00:36:15,440 its glycaemic load would be 50. 713 00:36:16,440 --> 00:36:18,320 It increases the blood sugar level rapidly. 714 00:36:18,440 --> 00:36:21,280 When the blood sugar level of a diabetic patient increases, 715 00:36:21,360 --> 00:36:23,120 they have to take medicines 716 00:36:23,200 --> 00:36:24,920 and frequent the doctors. 717 00:36:25,000 --> 00:36:27,520 Some people get insulin injections to control their blood sugar levels. 718 00:36:27,640 --> 00:36:29,400 Sharks, if it continues, 719 00:36:29,480 --> 00:36:31,640 our country will soon be considered 720 00:36:31,720 --> 00:36:33,480 the centre of diabetic people. 721 00:36:34,840 --> 00:36:36,400 We must not let that happen. 722 00:36:37,240 --> 00:36:39,800 To help us do that we are presenting Diabexy. 723 00:36:39,880 --> 00:36:41,760 [upbeat music] 724 00:36:43,480 --> 00:36:46,120 I'm Lokendra Tomar, founder and director of the company. 725 00:36:46,200 --> 00:36:49,520 And my name is Nishu Tomar. We hail from Gurugram, Haryana. 726 00:36:50,640 --> 00:36:52,560 NutroActive is the name of our company. 727 00:36:52,640 --> 00:36:54,520 It consists of two types of products. 728 00:36:54,600 --> 00:36:55,960 We have products related to weight loss. 729 00:36:56,080 --> 00:36:58,120 They are sold under the NutroActive brand. 730 00:36:58,240 --> 00:37:01,600 And we also have products that are sold under Diabexy for diabetic patie 731 00:37:01,760 --> 00:37:05,040 Diabexy makes such food products 732 00:37:05,120 --> 00:37:07,000 whose glycaemic load 733 00:37:07,080 --> 00:37:10,000 is around 90% less than the normal products. 734 00:37:10,080 --> 00:37:12,440 For instance, Diabexy Atta. 735 00:37:13,120 --> 00:37:15,160 Its glycaemic load is just 7. 736 00:37:15,280 --> 00:37:18,160 We make many food items, like namkeen, biscuits and sweets 737 00:37:18,240 --> 00:37:20,520 which don't impact the blood sugar level 738 00:37:20,640 --> 00:37:22,000 and are tasty too. 739 00:37:23,000 --> 00:37:26,520 Sharks, we launched Diabexy two years ago. 740 00:37:26,680 --> 00:37:30,600 Today, more than 3.5 lakh people use Diabexy products 741 00:37:30,760 --> 00:37:33,360 and are trying to manage their diabetic condition. 742 00:37:35,080 --> 00:37:36,480 Diabexy's mission 743 00:37:36,560 --> 00:37:39,840 is to eradicate diabetes from India just like we eradicated polio. 744 00:37:40,720 --> 00:37:43,360 Sharks, to fulfil our mission, 745 00:37:43,480 --> 00:37:46,640 we ask for Rs. 1.5 crores 746 00:37:46,720 --> 00:37:49,520 for 1% equity. 747 00:37:49,600 --> 00:37:51,280 Whoa! 748 00:37:51,360 --> 00:37:52,240 [coughing] 749 00:37:52,320 --> 00:37:55,160 - Oh! - Wow! 750 00:37:55,240 --> 00:37:56,560 I feel like a diabetic patient after hearing you. 751 00:37:56,640 --> 00:37:58,000 [chuckling] 752 00:37:58,080 --> 00:37:59,520 I need some water. 753 00:37:59,600 --> 00:38:01,720 [laughing] 754 00:38:01,920 --> 00:38:04,320 - Lokendra and Nishu Tomar. - Yes. 755 00:38:04,440 --> 00:38:06,320 Welcome to Shark Tank season 2. 756 00:38:06,400 --> 00:38:07,440 - Thank you, sir! - Thank you, sir! 757 00:38:07,520 --> 00:38:09,600 You are working for a good cause. 758 00:38:09,680 --> 00:38:11,320 As you said, diabetes 759 00:38:11,400 --> 00:38:13,680 is a serious issue. Are you a doctor? 760 00:38:13,760 --> 00:38:16,200 How do you have so much knowledge? 761 00:38:16,280 --> 00:38:19,040 Actually, I aspired to be a doctor but I couldn't become one. 762 00:38:19,120 --> 00:38:20,360 [laughing] 763 00:38:20,480 --> 00:38:22,360 So I became a pharmacist. 764 00:38:22,440 --> 00:38:23,720 I'm a pharmacist. 765 00:38:23,800 --> 00:38:25,760 I have knowledge of medicines 766 00:38:25,840 --> 00:38:27,200 and food items too. 767 00:38:27,280 --> 00:38:29,240 So I combined food and pharma 768 00:38:29,360 --> 00:38:32,040 to create a new industry 769 00:38:32,120 --> 00:38:35,040 that gives therapeutic value to patients through food. 770 00:38:35,840 --> 00:38:38,720 What did you do before this? Please tell us your background. 771 00:38:38,800 --> 00:38:40,360 Actually, my family members 772 00:38:40,480 --> 00:38:42,400 comprising my grandparents were farmers. 773 00:38:42,480 --> 00:38:46,160 My dad was a government employee and he was posted in Chhattisgarh. 774 00:38:46,880 --> 00:38:49,240 His job profile was 775 00:38:49,320 --> 00:38:51,560 to teach agriculture to the tribes. 776 00:38:51,640 --> 00:38:53,960 I used to stay with him in the jungle. 777 00:38:54,040 --> 00:38:56,240 Our financial condition wasn't good 778 00:38:56,320 --> 00:38:59,240 and we bought groceries from the nearby grocer on credit. 779 00:38:59,360 --> 00:39:01,880 So we faced a financial crunch during those times. 780 00:39:01,960 --> 00:39:05,200 But when we visited Delhi, we saw traffic lights on the roads 781 00:39:05,320 --> 00:39:06,880 and people driving cars. 782 00:39:06,960 --> 00:39:08,440 So there was a prosperity difference. 783 00:39:08,520 --> 00:39:10,520 And I thought it was possible 784 00:39:10,600 --> 00:39:13,080 to live a lavish life and own a car too. 785 00:39:13,160 --> 00:39:14,440 Yes! [chuckling] 786 00:39:15,560 --> 00:39:17,760 I wanted to achieve something in life. 787 00:39:18,400 --> 00:39:21,560 So, I noticed that people who do business, usually have money. 788 00:39:21,720 --> 00:39:23,320 And, they are prospering too. 789 00:39:23,400 --> 00:39:24,880 So, I couldn't understand too much 790 00:39:24,960 --> 00:39:27,080 but, I did understand, that if we do business 791 00:39:27,160 --> 00:39:29,400 then we can attain prosperity. 792 00:39:30,040 --> 00:39:31,960 But, I was confused about what business to do. 793 00:39:32,240 --> 00:39:35,120 So, while working in a pharmaceutical company 794 00:39:35,200 --> 00:39:36,200 I used to sell medicines. 795 00:39:36,360 --> 00:39:38,120 And, I used to sell medicines for diabetes. 796 00:39:38,200 --> 00:39:40,800 - Which company? - I worked for Sun Pharma. 797 00:39:41,080 --> 00:39:44,760 So, when I performed well in sales, they gave me a book. 798 00:39:44,880 --> 00:39:47,000 It was, ‘How to win friends and influence people’. 799 00:39:47,080 --> 00:39:49,240 - Oh! - Ah! It’s a best seller. 800 00:39:49,480 --> 00:39:51,360 So, when I read that book 801 00:39:51,480 --> 00:39:55,040 I realised that these lessons weren’t taught in school. 802 00:39:55,200 --> 00:39:57,080 We may want to achieve something in life 803 00:39:57,160 --> 00:39:58,880 but we only learn theory in school. 804 00:39:59,040 --> 00:40:00,560 Nobody teaches personal development. 805 00:40:00,640 --> 00:40:01,560 Well said. 806 00:40:01,680 --> 00:40:04,560 So I felt that if I want to be successful in life, 807 00:40:04,720 --> 00:40:06,440 books can be of great help to me. 808 00:40:07,960 --> 00:40:09,320 So, I began to read several books. 809 00:40:09,440 --> 00:40:11,720 I mean, I used to go through three books in a week. 810 00:40:11,800 --> 00:40:13,640 I have read over a thousand books. 811 00:40:13,720 --> 00:40:16,120 - Oh wow! - Very good! 812 00:40:16,200 --> 00:40:17,720 Once I started reading, 813 00:40:17,840 --> 00:40:22,120 I realised that we can cure several diseases with our food intake. 814 00:40:22,280 --> 00:40:23,760 We don’t need drugs. 815 00:40:24,080 --> 00:40:25,880 Then, the keto diet became very popular. 816 00:40:26,080 --> 00:40:28,520 So, madam managed all the responsibility. 817 00:40:28,600 --> 00:40:31,200 And, she learned digital marketing. 818 00:40:31,280 --> 00:40:32,960 - Wow! - She learned to build a website. 819 00:40:33,040 --> 00:40:35,360 She learned photoshop, and everything else. 820 00:40:35,680 --> 00:40:36,520 Amazing! 821 00:40:36,600 --> 00:40:38,360 Then, we launched keto diet products 822 00:40:38,480 --> 00:40:40,680 and they started selling like hot cakes on Amazon! 823 00:40:40,760 --> 00:40:41,800 [laughter] 824 00:40:41,880 --> 00:40:42,960 How much did you sell? 825 00:40:43,080 --> 00:40:45,000 We started in 2016. 826 00:40:45,080 --> 00:40:48,480 Our annual sales in 2016-2017 were 65 lakh rupees. 827 00:40:48,600 --> 00:40:49,680 Very nice. 828 00:40:50,040 --> 00:40:52,920 After that, we reached 1.5 crore rupees. 829 00:40:53,120 --> 00:40:56,080 - The following year, we reached 3.25 crore rupees. - Wow! 830 00:40:56,160 --> 00:40:58,120 The following year, we touched 5.25 crore rupees. 831 00:40:58,640 --> 00:41:00,280 Then, it was 8.25 crore rupees. 832 00:41:00,400 --> 00:41:03,480 And, last year, we made around 13 crore rupees. 833 00:41:03,800 --> 00:41:05,000 Woah! 834 00:41:05,560 --> 00:41:07,200 And, in 2021-2022? 835 00:41:07,280 --> 00:41:09,000 It is 12.8 crores, to be precise. 836 00:41:09,080 --> 00:41:10,440 How much was your profit? 837 00:41:10,680 --> 00:41:12,800 We take a salary of one crore rupees. 838 00:41:12,880 --> 00:41:14,440 - For both of you? - Yes. 839 00:41:14,560 --> 00:41:17,360 So, after your salary, what was the profit? 840 00:41:17,560 --> 00:41:19,400 We made a profit of 1.5 crore rupees last year. 841 00:41:19,480 --> 00:41:20,480 After 1 crore in salary? 842 00:41:20,640 --> 00:41:21,760 After 1 crore in salary. 843 00:41:21,840 --> 00:41:24,080 - That becomes 2.5 crore rupees? - Yes. 844 00:41:24,320 --> 00:41:26,600 - Do you manufacture these products yourself? - Yes. 845 00:41:27,200 --> 00:41:28,880 And, what is your product margin? 846 00:41:29,040 --> 00:41:30,920 Product margin, after deducting the manufacturing cost. 847 00:41:31,040 --> 00:41:33,720 One-third of the MRP at which a product sells 848 00:41:33,840 --> 00:41:36,640 is its manufacturing cost. 849 00:41:36,720 --> 00:41:38,960 - Okay. - One-third is the distribution cost 850 00:41:39,040 --> 00:41:40,400 - including the Amazon fees. - Okay. 851 00:41:40,480 --> 00:41:43,120 And, the remaining one-third includes taxes and profit. 852 00:41:43,280 --> 00:41:46,120 How many of your customers are repeat customers? 853 00:41:46,320 --> 00:41:49,320 We have 70% repeat customers on our own website. 854 00:41:49,640 --> 00:41:50,840 Well done! 855 00:41:50,920 --> 00:41:53,080 So, how much are the sales of weight loss products 856 00:41:53,240 --> 00:41:55,160 and of diabetes products, from the 13 crores? 857 00:41:55,440 --> 00:41:57,480 Last year, it was fifty-fifty. 858 00:41:57,600 --> 00:42:00,360 The year before that, we did sales worth 8.5 crores. 859 00:42:00,440 --> 00:42:02,960 From that, 20% was Diabexy. 860 00:42:03,040 --> 00:42:05,680 And, this year, 70% is Diabexy. 861 00:42:05,760 --> 00:42:07,680 If we look at our current sales, 862 00:42:07,760 --> 00:42:10,360 we are making around 1.1 crores per month. 863 00:42:10,480 --> 00:42:13,040 So, your other business is on a decline and this one is rising. 864 00:42:14,080 --> 00:42:16,800 Yes, because the keto diet is slowly fading. 865 00:42:17,760 --> 00:42:20,120 You are earning 13 crores from how many SKUs? 866 00:42:20,240 --> 00:42:22,920 We have a total of 16 Diabexy products right now. 867 00:42:23,040 --> 00:42:26,640 And, the number of SKUs is higher because of varying pack sizes. 868 00:42:26,720 --> 00:42:27,960 What sells the most? 869 00:42:28,240 --> 00:42:31,680 The flour is the highest selling. 40% of sales are from Diabexy flour. 870 00:42:33,200 --> 00:42:36,520 Let’s taste a roti made with it. I’ll start eating this daily. 871 00:42:36,600 --> 00:42:38,640 [music playing] 872 00:42:40,080 --> 00:42:42,960 - This is roti. And, these are our almond cookies. - Alright. 873 00:42:43,080 --> 00:42:45,120 - Okay. - This is cashew barfi, coconut barfi 874 00:42:45,200 --> 00:42:46,560 and, this is a breakfast bagel. 875 00:42:47,000 --> 00:42:50,440 These won’t cause a rise in weight or blood sugar. 876 00:42:51,280 --> 00:42:52,920 [suspenseful music playing] 877 00:42:59,120 --> 00:43:00,080 Not bad. 878 00:43:00,320 --> 00:43:02,880 It tastes just like a normal roti. 879 00:43:03,760 --> 00:43:04,760 Nice. 880 00:43:05,600 --> 00:43:06,480 The roti is great. 881 00:43:06,640 --> 00:43:07,720 Very nice. 882 00:43:07,840 --> 00:43:09,000 So, this is roti. 883 00:43:09,280 --> 00:43:11,320 - What is this? - This is a barfi. 884 00:43:11,400 --> 00:43:13,880 Even though it is sweet, it won’t raise blood sugar. 885 00:43:13,960 --> 00:43:17,240 The product that we use for sweetness is called oligofructose. 886 00:43:17,400 --> 00:43:20,920 It works as a fibre. So, it tastes sweet upon eating 887 00:43:21,000 --> 00:43:22,400 and is easily excreted out of the body. 888 00:43:22,480 --> 00:43:23,520 [laughter] 889 00:43:23,600 --> 00:43:26,680 The body does not absorb it, so it won’t influence blood sugar. 890 00:43:26,800 --> 00:43:28,440 It tastes nice and normal. 891 00:43:28,520 --> 00:43:30,360 It does not taste odd or different. 892 00:43:30,440 --> 00:43:32,680 I have written a book too. ’New theory of diabetes’. 893 00:43:32,880 --> 00:43:36,360 In this, I have explained that the thought process is the issue. 894 00:43:36,440 --> 00:43:38,560 We feel that once we are afflicted by diabetes, 895 00:43:38,640 --> 00:43:40,680 it is irreversible. But, that’s not true. 896 00:43:40,800 --> 00:43:42,000 Diabetes can be reversed? 897 00:43:42,200 --> 00:43:43,160 Of course, it can! 898 00:43:43,280 --> 00:43:45,920 Like a fever, diabetes can be cured too. 899 00:43:47,520 --> 00:43:48,960 What are your reviews or ratings 900 00:43:49,040 --> 00:43:51,240 on Amazon, or other selling platforms? 901 00:43:51,480 --> 00:43:52,720 What are your ratings? 902 00:43:52,880 --> 00:43:55,720 Ratings are between 3.5 to 4. It goes higher too. 903 00:43:55,800 --> 00:43:57,360 Isn’t 3.5 a little low? 904 00:43:57,440 --> 00:43:59,840 But, the Diabexy flour has a rating of 4. 905 00:44:00,000 --> 00:44:01,320 Which product is at 3.5? 906 00:44:02,720 --> 00:44:04,880 - Maybe some cookies. - Maybe? 907 00:44:07,760 --> 00:44:08,880 Do you know? 908 00:44:09,680 --> 00:44:12,440 Actually, I don’t remember each product’s ratings. Sorry. 909 00:44:13,920 --> 00:44:16,920 Even today, I read the feedback from all my customers. 910 00:44:18,280 --> 00:44:21,640 If ratings are 3.5 to 4, people must also be giving lower ratings. 911 00:44:23,280 --> 00:44:25,520 What can their reason be? Have you spoken to those customers? 912 00:44:25,600 --> 00:44:28,480 Yes, their reasons are that they didn’t like the flour. 913 00:44:28,560 --> 00:44:30,600 They didn’t like the taste. That’s the most common one. 914 00:44:30,680 --> 00:44:32,120 But, all of you liked it, didn’t you? 915 00:44:32,200 --> 00:44:33,400 [laughter] 916 00:44:33,480 --> 00:44:35,480 We liked it. [laughter] 917 00:44:37,440 --> 00:44:39,560 - Is there anyone else in your team? - No. 918 00:44:39,680 --> 00:44:40,960 The two of you are running the business? 919 00:44:41,040 --> 00:44:42,400 - Yes. - You have no other employees? 920 00:44:42,480 --> 00:44:44,360 - We do have other employees. - How many employees? 921 00:44:44,520 --> 00:44:45,240 40 employees. 922 00:44:45,320 --> 00:44:48,000 So, what’s your vision for this company? After five years, 923 00:44:48,120 --> 00:44:51,560 how big do you envision this company and what more will it be doing? 924 00:44:51,800 --> 00:44:54,080 After five years, we are expecting 925 00:44:54,160 --> 00:44:56,560 that we will make a turnover of more than 500 crore rupees. 926 00:44:57,200 --> 00:45:00,800 And, we’re introducing new products. Like, flour is a great product. 927 00:45:01,240 --> 00:45:03,760 We have also produced rice for diabetes. 928 00:45:04,040 --> 00:45:06,080 How much costlier is this flour than normal flour? 929 00:45:06,200 --> 00:45:08,520 This costs around 500 rupees per kilogram. 930 00:45:11,120 --> 00:45:14,400 Very few people in India will pay so much money for your flour. 931 00:45:15,640 --> 00:45:17,560 Okay? And then, you won’t be the only company. 932 00:45:17,640 --> 00:45:19,120 Other companies will arise too. 933 00:45:21,040 --> 00:45:23,120 - It will get copied too. - Yes, exactly! 934 00:45:23,200 --> 00:45:25,480 There’s no patented formulation. 935 00:45:25,560 --> 00:45:30,080 We face competition whether the business grows or not. 936 00:45:30,200 --> 00:45:33,560 So we think that we possess the competence 937 00:45:33,680 --> 00:45:35,400 as we started this business. 938 00:45:35,480 --> 00:45:38,120 We know that we can innovate in tough situations. 939 00:45:38,200 --> 00:45:41,120 Because we know the nitty-gritty of the business as we are the founders. 940 00:45:41,360 --> 00:45:44,360 Secondly, we are open to collaboration with other people. 941 00:45:44,480 --> 00:45:47,920 Instead of competing, we'd like to collaborate. 942 00:45:48,040 --> 00:45:50,120 We'll adapt according to the situation. 943 00:45:50,920 --> 00:45:53,520 Let me tell you my decision. 944 00:45:54,600 --> 00:45:57,560 Your efforts are laudable because diabetes 945 00:45:57,680 --> 00:46:00,600 makes people suffer immensely. Every day, 946 00:46:00,720 --> 00:46:01,920 they pay a heavy price. 947 00:46:02,000 --> 00:46:04,280 If your products are beneficial for people, 948 00:46:04,360 --> 00:46:06,560 you are doing great work as you are saving lives. 949 00:46:06,640 --> 00:46:09,280 But I feel you are choosing the wrong path 950 00:46:11,040 --> 00:46:14,400 if you are looking for investment. You are the centre of your business. 951 00:46:14,960 --> 00:46:16,840 Your business runs on your knowledge. 952 00:46:16,920 --> 00:46:19,880 Your business runs because of Ms. Nishu's execution. 953 00:46:20,080 --> 00:46:24,160 And I think you may bank on it and grow your business. 954 00:46:25,080 --> 00:46:28,760 For this reason, I'm out. I feel you should keep the company to yourself. 955 00:46:29,000 --> 00:46:31,080 You shouldn't involve anyone from outside. Good luck to you! 956 00:46:32,440 --> 00:46:33,680 We have an offer. Look! 957 00:46:35,520 --> 00:46:38,360 All four of us... Aman is also joining us after we convinced him. 958 00:46:38,480 --> 00:46:41,040 We'll explain the valuation rationale also to you. 959 00:46:41,160 --> 00:46:44,080 We assume that the sale of your growing business, Diabexy, 960 00:46:44,160 --> 00:46:46,280 is Rs. 10 crores. 961 00:46:46,480 --> 00:46:49,440 And let's assume its annual EBITDA to be Rs. 1 crore. 962 00:46:49,520 --> 00:46:52,600 When we multiplied EBITDA by seven, we got around 7-8 crores. 963 00:46:52,800 --> 00:46:55,480 Plus there is a value addition from all four of us. 964 00:46:55,640 --> 00:47:00,040 So we're giving you the combined equity offer by the four experts. 965 00:47:01,040 --> 00:47:04,360 Rs. 1.5 crores for 5% equity for each Shark. 966 00:47:05,240 --> 00:47:08,280 So, Mr. Lokendra Tomar, you're left with only one offer. 967 00:47:09,480 --> 00:47:13,880 Rs. 1.5 crores for 20% equity for the four Sharks. 968 00:47:13,960 --> 00:47:16,480 [suspenseful music] 969 00:47:18,600 --> 00:47:21,040 I think the valuation 970 00:47:21,120 --> 00:47:23,120 doesn't meet our expectations. 971 00:47:23,320 --> 00:47:25,200 So I'm sorry. 972 00:47:26,000 --> 00:47:29,560 I'm open to a deal for a valuation of Rs. 100 crores. 973 00:47:29,640 --> 00:47:30,560 We can think about it. 974 00:47:30,640 --> 00:47:32,600 Otherwise, I'll improve myself to reach 975 00:47:32,680 --> 00:47:33,960 that level and then I'll come back to you again. 976 00:47:34,320 --> 00:47:36,400 [dramatic music] 977 00:47:37,480 --> 00:47:40,080 - Basically, you want to say that you want to give 1.5% equity. - Yes! 978 00:47:40,280 --> 00:47:42,520 - Well done, Mr. Lokendra Tomar. - Thank you, sir! 979 00:47:42,600 --> 00:47:45,320 - If you allow me... - Sure! Please give us your book. 980 00:47:45,480 --> 00:47:47,920 [ethereal music] 981 00:47:49,280 --> 00:47:52,000 I was ready to give Rs. 15 crores. 982 00:47:52,800 --> 00:47:55,400 Can you please sign it for me? 983 00:47:55,480 --> 00:47:58,320 Did you come here for investment or marketing? 984 00:47:58,800 --> 00:48:00,080 I aimed for both things 985 00:48:00,240 --> 00:48:03,480 - but I completed one task at least. - Wonderful! 986 00:48:03,760 --> 00:48:06,880 - Thank you very much! All the best! Good luck! - Thank you! 987 00:48:07,000 --> 00:48:08,640 - Thank you! - Proud of you guys. 988 00:48:24,600 --> 00:48:26,640 'Peyush, Vidit from Indore wants to ask a question' 989 00:48:26,720 --> 00:48:29,000 'in the Shark Xperience segment.' 990 00:48:29,200 --> 00:48:31,760 'Is it important to do MBA to become' 991 00:48:31,840 --> 00:48:33,440 'a successful entrepreneur?' 992 00:48:33,960 --> 00:48:37,480 Hi, Vidit! It's not important to pursue an MBA 993 00:48:37,560 --> 00:48:39,120 to become a successful entrepreneur. 994 00:48:39,360 --> 00:48:42,400 You may take my example. I don't have an MBA degree. 995 00:48:42,520 --> 00:48:45,360 And yet I have been an entrepreneur for the last 12 years. 996 00:48:45,640 --> 00:48:49,080 Um, you get networking in an MBA school 997 00:48:49,160 --> 00:48:51,160 and they explain certain business case studies. 998 00:48:51,360 --> 00:48:54,640 Over a period, you may learn these things by making mistakes 999 00:48:54,720 --> 00:48:55,960 while doing your business. 1000 00:48:56,040 --> 00:48:59,320 So doing an MBA is an added advantage but it isn't necessary.