[theme music playing]
[theme music continues]
[theme music fades]
- Greetings, Sharks. - Greetings.
We all have that favourite street food vendor
we are all extremely fond of.
Either we find their food tasty or we have memories attached to it.
My point is that street food is extremely popular in India.
But the people who run those joints face umpteen business problems.
So, we launched Raasa in the month of March 2022.
We spoke to them at length and identified five major problems.
First, they don't have a brand name. They are standalone food joints.
They do have a name, but no identity.
So, where does Raasa come in?
We give them proper branding, that of Raasa.
We give each one of them a unique number.
Sharks, I dream to develop an ecosystem
for the unorganised street food vendor industry.
My vision is
to get associated with 10 lakh street food vendors
and triple their current income.
The presentation was good and you look dapper.
Thank you.
I quit my job last year.
The idea occurred to me during the lockdown.
I used to roam about in the neighbourhood with friends.
Street food was doing well then.
It suddenly dawned upon me that this could be a good opportunity.
I've been a strategic manager myself.
I studied the market.
I'd call them over to McDonald's and we'd do the research together.
We'd discuss their problems.
I felt it had merit.
How do you make money?
Suppose a plate of chole kulcha costs Rs. 50.
We hike the price to 100.
Zomato's commission is 30%.
We take Rs. 20 and give the vendors Rs. 50.
Their mandate is clear.
"The strategising is up to you. I need x amount of money."
You said your mission was to triple their income.
But you're giving them the same income.
- No, their sales have increased. - Sales increased.
- Yes, okay. - We're increasing sales.
Zomato and Swiggy are just
a very small component of the entire business.
Please understand.
All the uploading and onboarding happens through my brand.
I do all the back-end work.
The money that comes is credited into my account.
It's only until they learn it.
The money will come to you in the beginning of course.
Eventually, when they learn...
- They'll do it directly. - Yes, they will.
[intense music playing]
I thought you were making a profit through the services.
I don't see how you'll make a profit in the long term.
At times, the municipal corporation harasses them.
Yes, they do.
[sentimental music playing]
The municipal authorities demolish the joint.
Then I have to carry it along with me.
The food gets wasted and I suffer losses.
[sentimental music playing]
My cart was demolished during the lockdown.
The tandoor and furniture were destroyed.
I suffered a loss of Rs. 35,000.
I've been surviving on credit.
[sentimental music playing]
We've to bear the losses.
It pains us the day our children go to sleep on an empty stomach.
[sentimental music playing]
Once they get a licence, does the harassment stop?
Very important point. They are alone.
If we were united, for example, under an ecosystem.
Suppose I had 1000 vendors under me.
Once you build a brand,
then the police and municipal authorities too feel the pressure.
So, that's the motive.
Once you become a brand,
the complaints won't go to them.
The government will impose fines and penalties on you.
Unions might be able to solve this but not a brand.
[intense music playing]
What will you do? Have you thought about this?
Won't the problems increase once they become a brand?
To be honest, I think it will be the other way around.
When you have money and power,
you can at least fight the authorities.
You can hire lawyers and take legal recourse.
The court will shut you down as a company.
Yes.
I agree with Anupam.
This will invite regulatory backlash.
If you associate an unregulated environment with a brand,
then the authorities will come for you.
But lending your logo and brand to these carts
will get you into a lot of trouble.
You might have to shut shop overnight.
Please mull over it.
What's your current margin?
Zomato and all... I agree with Amit.
Once the vendors learn the ropes,
they will eliminate you the second time onwards.
Why will they pay you for it?
However insignificant the marketing,
but one takes pride in marketing their own products
rather than using another's brand name.
Especially when the value proposition is not that high.
So, it's too early for me.
So, I'm out, but I always wish you the best.
[intense music playing]
I am quite impressed
that you've genuinely focused on an important and big problem.
The business will work.
You'll need to work hard on the tech front.
- Please help. - Quickly.
- No, this is too early on for me. - Hmm.
I'd surely have invested if you had a tech cofounder on board now.
I'm out.
But best of luck.
- Do you have a co-founder? - Yes, I do. Vikas Sharma.
What's his background and what does he oversee?
He's with a KPO.
What's his share of equity?
- We have 50% each. - Okay.
- Nice! - You're making a consumer backward business in detail.
And I can also sense empathy.
- You're genuinely concerned. Very good. - Yes.
Work on the regulation bit.
You're too early for an investment.
You need to put in a lot of work yourself.
I can't help you to build your own business.
[tense music playing]
I'm out, but I hope we meet here next year
and you tell me about your achievements.
[intense music playing]
I have only one issue or I'd have invested today.
Because your impact is high, I'd have invested in the cause.
- And your cause is noble. - Yes.
But I can't get associated with a business that has a regulatory risk.
So, I'm out only for this reason.
[intense music playing]
Speaking of regulations, what's illegal...
- I said it because the government... - Leave this aside.
Manik, everyone has asked you to come next year
in the next season.
So, they've made up their minds to not make you an offer.
[intense music playing]
How can that happen?
because you're a pre-product market fit.
But you said you want to keep 10% aside for hawkers.
I found that great.
I will make you one and only one offer.
I also have a condition.
You need to bring a tech co-founder on board.
- I will help you. - Okay.
You'll have to give him equal equity.
I will give you Rs. 50 lakhs
but I'll take 25% equity.
- all four co-founders will dilute 10%. - Okay.
- I'll do it too. Okay? - Very good offer.
- Amazing offer. - This is my offer.
Please think about it.
- Can I take two minutes if you don't mind? - Sure.
The offer is amazing though.
- Have you gone mad? - Why?
- It's a very big market. - It's a good business. He's empathetic.
With a tech cofounder onboard, the business will have no issues.
If nothing else, he has aggregated 100 vendors already.
He can run the business with Zomato and Swiggy. That's enough.
[intense music playing]
Okay, Sharks. I will take the offer.
- Alright. Congratulations. - Good.
And we'll make a deal then.
[Sharks laugh]
That will be fun. Alright. Let's do it. Great.
My cheque.
Thank you so much, sir.
[camera shutter clicks]
- Thank you, Manik. - Thank you, everyone.
- Best of luck. - Good luck.
All the best.
[euphoric music playing]
'Coming up on Shark Tank season 2 this week.'
'Hello, Sharks. Welcome.'
'It is time to step into the future.'
Very unique product.
India's first two-seater, fully electric smart microcar.
You can control your car from the outside.
- Wow! - Wow!
Snitch, India's fastest growing fast fashion brand for men.
We ship over 2000 orders on a daily basis.
- Wow! - What!
Licksters is a premium popsicle and ice cream brand
with the highest food concentration.
We are team Spice Story and we bring to you
the flavour of India's alleys in a modern sauce form.
Oh my God!
Overall 10 out of 10 in my book.
Our ask is Rs. 1.5 crores for 0.5% equity.
What a ginormous valuation!
Rs. 1.5 crores for 1% equity.
Rs. 150 crore valuation!
What is this year's projected revenue?
- Sir, Rs. 90 to 100 crores. - Incredible!
Aman's and my offer is Rs. 1 crore for 2% equity.
And if Peyush wants to join...
I want to stay as an investor with just one popsicle business as of now.
Why didn't you just walk out then? Why did you sit through it?
[Sharks laugh]
Come on!
Sharks!
or getting in a car or autorickshaw.
On top of that, they even have to listen to people's taunts.
To restore the dignity of the disabled and elderly
and make them independent,
we came up with NeoMotion.
[music playing]
These are our products.
Our first products are NeoFly and NeoBolt.
Sharks, do you know?
India's fastest wheelchair marathons were done on NeoFly!
Oh, wow!
Sharks, our innovation in outdoor mobility
is called NeoBolt.
You don't need assistance to affix this to a wheelchair.
And it's a really economical mode of transport.
- Welcome to Shark Tank, guys. - Thank you.
I want to ask how you three know each other.
They had a centre for innovation
where work on robotics and aeromodelling is carried out.
I spent five years there.
After graduation, I wished that I had more time.
I could have done more.
Coincidentally the stars aligned.
I was in touch with my professor.
In 2015, she called me and said,
"Swostik, we have a prototype for which we received funding."
"We need a project manager." So, I went there.
The name of the product we were working on was Standing Wheelchair.
we understood what products people were currently using then.
One of our users is here. May we call him for a demo?
- Sure. - Yes, please.
[buoyant music playing]
[metal clanks]
Interesting.
[uplifting music playing]
- The wheelchair is not motorised. - No.
[metal clanks]
- Do you use it regularly? - Yes, sir.
- How long has it been? - Five months.
What changes do you see in your life from the time you started using it?
When I used a normal wheelchair earlier,
I was dependent on my family.
But ever since NeoMotion gave me this wheelchair,
my family is dependent on me.
[exhilarating music playing]
How is your family dependent on you?
Earlier, I used to work as a packer in a factory.
My salary was Rs. 3000.
It was very meagre.
From the time I got this wheelchair, I work as a delivery guy for Zomato.
- Wow! - Wonderful. This is great.
I've earned more than Rs. 32,000 in four months.
This is fantastic.
Shivaji, delivering food for Zomato must be an exhilarating feeling.
You must be overcome with a sense of pride, right?
I feel really proud, sir.
[sentimental music playing]
Did you buy this yourself? How did you get the wheelchair?
The president of my workplace donated the wheelchair to me.
Very nice.
Shivaji contributes his EMIs to that NGO.
- Very nice. - Amazing.
So that he can gift this to someone else.
[sentimental music playing]
He returns 40% of the cost.
He wants someone else to benefit from it too.
- Exactly. - Yes. Very nice.
And Mr. Daga over here
helped my friend get a wheelchair on grant too.
To make this venture a success,
they as well as we are both working hard.
Which city are you from, Shivaji?
I'm from Airoli in Mumbai.
I'm a state level wheelchair cricketer.
- Wow! - Nice.
- So... - You have an athletic build.
[buoyant song playing]
I had never scored a century before I got this wheelchair.
Then I took this wheelchair to the field three months ago.
I scored my first century and first high score
in that match.
I won the Man of the Match trophy.
- Good job. - Well done.
[buoyant song playing]
Thank you, sir.
How do you charge it?
The battery is removable.
The width and height of the seat,
the back support including what angle it should be at,
and the position of the feet are some of the things we customise.
It has an accelerator and brakes like a motorbike.
It also has lights and a horn.
[honks]
If you talk about safety features, it's equipped with a seat belt.
There's a suspension in the front which brings you a lot of comfort.
I have a feeling
that this is a better solution for outdoor mobility.
Riding it at home or in the office isn't possible
as it will take up too much space.
Some of our users only buy just the NeoFly wheelchair.
Whether you ride the wheelchair or not,
you sit on it for long hours.
So, your posture ought to be correct.
We divide a wheelchair into seating and propulsion systems.
When you push manually,
it's 4 to 5 times more energy-saving than a normal wheelchair.
In one push, it will go 5 metres
as compared to a normal wheelchair which will go only 1 metre.
It's smaller in size.
Our bathrooms, doors and lifts are narrow if you see.
This increases accessibility in such scenarios.
You don't need to call for assistance if you wish to go out.
It's in the parking lot.
- Go there, attach it and be on your way. - Okay.
With a combination of NeoFly and NeoBolt,
we provide a comprehensive solution for indoors as well as outdoors.
These are our initial products.
Thank you, Shivaji.
- Thank you so much. We'll talk to them. - Best of luck.
It was nice to meet you.
I like your style.
I am glad to see you fit.
- Keep going. You're really fit. - Nice.
- Thank you. - Thank you.
Take care. Thank you.
Let's talk business and numbers now.
Our revenue last year was Rs. 4.7 crores.
One is individual orders
that come through our website, social media
and the campaigns we run.
How much does a normal, regular wheelchair cost?
- Let's talk about the average price of wheelchairs in India. - Yes.
It should be on average Rs. 12,000 to 13,000.
[intense music playing]
- If you want a used one, you could get it for as low as Rs 3000. - Yes.
I believe the market size will be very small.
Our estimate is
around 1.5 crore people could benefit from our wheelchair.
1% people out of 1.5 crore can't afford a Rs 1 lakh wheelchair.
Yes, absolutely. We have other product lines.
If we talk about the entry-level mass market wheelchair,
that's in the pipeline.
We didn't want to start with it.
What we'll offer between Rs. 12,000 to 15,000...
Will be similar...
Or it'll be a quantum jump
from what is there at that price point.
- Let me try the product. - Sure, sir.
Have you had a prior round of funding?
Yes. We received a grant
I'm the CEO. Siddarth oversees sales and marketing.
Ashish oversees production and supply chain.
Who's your competition?
Doesn't any other brand in India manufacture these?
This is not made in India.
People import them and sell them here.
Just the attachment that's available for Rs. 5 to 6 lakhs.
- Only attachment is Rs. 5 lakhs. - Yes.
- And your combined product is Rs. 1 lakh. - Yes.
- It's at 1 speed, right? - Yes.
1 speed.
[music playing]
It's nice.
The product is good.
The product and the innovation are both great.
Have you thought about how you'll make it affordable to the masses?
How much can you lower the cost?
As our volumes increase, as a combined set,
it'll come down to about Rs. 80,000...
Not lesser than that?
The battery gives 25 km per charge.
We're parallelly working on giving 60 km at the same price.
Why are you being so parsimonious?
[tense music playing]
- As in? - So many Indians are suffering.
You told me the number was 1.5 crores.
Why don't you look at manufacturing this innovation at Rs. 25,000?
[tense music playing]
India is popular for what?
Frugal engineering. Right?
It's our strength.
If you can make this in Rs. 25,000,
not just business,
you'll receive the Bharat Ratna!
You will change the lives of 1.5 crore people.
But their problem is that the cost is not going any lower.
You asked for Rs. 100 crores valuation.
Can you explain that?
Going by this year's run rate, we'll be making a profit of Rs. 4 crores.
But this business doesn't work like a contemporary business.
You have the orders today whereas tomorrow, you don't.
A company can fit it into their CSR budget today.
How many orders are donation based?
60 are individuals, 17 governments
- and... - Who are these individuals spending a lakh rupees?
Individuals with spinal cord injury commuting to work.
Those into parasports.
Once they buy it, they are not incumbent to take it next year.
[intense music playing]
It's not like there's a fixed number of orders coming in daily.
I'll give you Rs. 50 lakhs in equity
and Rs. 50 lakhs in debt.
I'll agree to the interest rate your existing debtors have agreed upon.
Look, I can make you an offer.
But I'll do it provided the company consistently makes a profit of 5%
because I'm doing it for the cause.
[intense music playing]
That would be difficult for us.
We want this to be profitable and sustainable,
and for it to grow.
Since you're interested in making a profit,
I am out for now.
[intense music playing]
Anupam, I would like to partner with you.
- Is that okay with you? - Yes, you have great connections
- in this industry. - I'm extremely passionate about this cause.
My thinking is in line with Anupam's.
We need to approach it from a business angle,
I'll make you an offer as well.
[intense music playing]
Hmm! Serious problem.
I'll offer you Rs. 1 crore for 5% equity.
I have a condition.
I shall receive 5% of your profits until it totals to Rs. 1 crore.
I'd have made you an offer if no one else had.
But three Sharks have made you offers.
So, I'm out.
But I wish you all the best.
Okay, we'll match the offer.
If you want equity, then we offer Rs. 1 crore for 5% equity,
We came with the thought process that you be associated with us.
From our end, the... Our current... Erm...
- Valuation. - We wish to...
- Oh, 5% is not acceptable to you! - No.
It's a no deal from my end.
Peyush and Anupam, what are your views?
You're so money minded.
[intense music playing]
Let's look at it as a business then.
Let's forget about doing something for the people of India.
Okay?
Rs. 99 lakhs debt at 15%.
Rs. 1 lakh for 1% equity.
I'll make you a counteroffer.
I'll give you Rs. 1 crore for 2.5% equity.
We want to thank all of you for your offers.
We are not making a counteroffer.
- Very good. - We'll stick to our ask.
I like your clarity of thought. Good.
I believe that this business is not headed in the direction
you showed us.
[intense music playing]
If I do invest and you do agree, there will be friction.
And for this reason, I am out.
[intense music playing]
- You don't accept my offer either! - No.
Alright, guys.
- They're clear. - Thank you.
- Thank you, guys. - Hang on.
He's negotiating.
I'll give you Rs. 1 crore for 1% equity.
[intense music playing]
But I need Rs. 1 crore back which will be donated.
[gripping music playing]
- Yes. Deal done. - Done deal.
Thank you so much for your offer.
- We need to work on it and make it affordable. - Yes.
- Thank you. - Absolutely. Thank you so much.
This is Rs. 1 crore, all equity.
- Thank you. - Thank you.
- Thank you and we will do that... - Yes.
- Thank you. - [camera shutter clicks]
You got what you wanted.
- Yes... - All the best.
- Thank you. - Thank you.
[motivational music]
[ethereal music]
Hi, Sharks!
Do you want to take a no-sugar and no-dairy challenge today?
- Yes! - Wow!
- Me! - Sure!
In this challenge, you can neither eat sugar
nor other dairy products.
- For... - A hundred... For hundred days!
Sharks, just imagine that you can't drink lemonade,
eat chips, drink a milkshake
or eat ice-creams at 45 degree Celsius temperature in Nagpur city.
- For... - One hundred! One hundred days!
Sharks, we took a similar challenge a few years back
when we made fruits our best friends.
After the 100-day challenge,
we went to our nearest ice-cream parlour
and bought our favourite fruit ice-cream.
And when we took the first bite,
we could taste only chemicals instead of fruits.
Then we decided to make an ice-cream
which tastes like fruits.
We knew that we couldn't satiate
the current generation with just a scoop.
So we decided to make something different.
It led to the inception of Licksters.
[dramatic music]
Hi, Sharks! I'm Parimal from Nagpur, Maharashtra.
[inspirational music]
Licksters is India's first premium ice lolly and ice-cream brand
which contains the maximum fruit concentration.
One ice lolly of Licksters contains
in gooey-centered pops.
Sharks, we began our journey in a small store of 120 sq. ft. area
with just six flavours.
And now we have a range of more than 30 flavours.
and adorable grandparents
who lost their teeth may also lick and savour our products.
We promise to use 100% pure fruits
and we dream to be a part of your deep freeze
- and your lives. - Wonderful!
Sharks, to fulfil our dream
we ask for Rs. 50 lakhs for 5% equity.
Alright!
Let's do it!
- Welcome to Shark Tank India season 2! - Thank you so much!
Your name reminds me of a film.
Have you seen 'Chupke Chupke'?
Dr. Parimal Tripathi!
Wow! So you remember the film!
- Hilarious! - Yes!
Please explain! How do you know each other?
- We are husband and wife. - You two are husband and wife.
Did you start this business before your marriage or afterwards?
- After our marriage. - After the marriage.
After your marriage!
How did you get information about the ice-cream industry?
- Yes! - Of course!
We have sugar-free options and sugared ice-creams too.
Serve me the sugar-free one.
Please serve me the sugar-free ice-cream.
[upbeat music]
Aman, it's for you.
- Do you want to try a Yogurt Bar? - Will you try mango or guava?
- Mango! - Sure!
See what's written here.
It's something that would have been written by you.
You have picked up the second-best thing to lick.
I love it! I love it! I love it!
All of them are crazy here!
It isn't an ice-cream. It's something else.
No. It's completely fruit-based.
Aman, how is it?
It's ordinary choc ice!
[suspenseful music]
- Parimal and Dhivya. - Yes?
The taste is the same.
It's just that you're saying it's a healthier option.
Why don't I feel there's much difference?
I won't call it healthy. It's a decadent option.
Only the chocolate fans eat them.
How much does it cost?
It costs Rs. 140.
Rs. 140!
Is it for Rs. 140?
- No! It costs Rs. 120. - No.
One stick costs Rs. 120. Wow! It's too costly.
Why would anybody go for this specifically
when a Cornetto costs Rs. 40?
[sweeping music]
The maximum range we sell is under Rs. 100.
The Jaamun eaten by Anupam costs Rs. 80.
And Rainbow eaten by Peyush costs Rs. 100.
Take Jaamun for example.
I buy them for my kids who are eight years old.
We can buy such ice-creams for Rs. 10 or Rs. 20 from Kwality Wall's.
There's a big difference between Rs. 20 and Rs. 80 price ranges.
I'll tell you why it's different.
For Rs. 20, they serve a mixture of colours,
air and different types of food essence.
Also, they add numerous cancer-causing agents
like E44 and other such chemicals.
But our product contains real jamun, real fruits and healthy sugar.
I'm perplexed.
I don't understand your market.
Sometimes you talk about health,
sometimes about taste
and sometimes about fruit content.
But when I see your logo
and your message,
'You have picked up the second-best thing to lick.'
- And your brand name is Licksters. - Yes.
That's your logo and your mascot.
It's highly, highly suggestive.
But still, you're targeting kids.
Was it a deliberate provocative strategy
or did it happen accidentally and you decided to go with it?
Alright. Let me brief you about it.
Please!
When I started out, I was visiting my in-laws' place
and I observed something.
All my niece and nephews
including her grandfather...
Her grandfather licked the ice-cream as soon as he got it.
When we hold an ice-cream,
we don't worry if it's suggestive or not,
we just think about enjoying it.
So when I saw him licking it,
I thought we are making an innocent act look offensive forcibly.
[adventurous music]
So tell me what is the first-best thing to lick?
That's your choice, sir.
Okay.
Okay! [chuckling]
- Let's talk about numbers. What are your sales figures? - Yes! Numbers!
Last month, we made a sale of Rs. 14 lakhs.
Let me tell you store-wise.
The sale in our store this year was Rs. 70 lakhs.
When you sell your product through a franchise, how much do you earn?
We have a margin of 40% on Popsicles.
- The margin is 40%... - We get a 50% margin for ice-creams.
The products produced in our store earn a margin of 55%.
On what basis did you estimate your valuation?
Our lifetime sale is more than Rs. 2 crores.
Our target for this year is around Rs. 2.25 crores.
Next year, we'll surely make a sale of Rs. 5 crores with 15 franchises.
Do you sell all your products at your stores?
Or do you also give them to other stores to sell?
We are available on Zomato and Swiggy too.
Besides, we sell our products in all our stores.
What about grocery stores?
We have never sold to the retail outlets till now.
I have made my decision.
Before you make your decision,
I'll tell you a story. You may make a decision after that.
- I'll tell you quickly. - Alright! But I won't change my decision.
We started our business in a small room.
Now we have a place which has an area of 5000 sq ft.
Moreover, the next year, we'll be allotted
- 18,000 sq ft in a food park. - Wow!
I ordered a pair of glasses from Lenskart many years ago.
They told me that the glasses were rejected during quality control.
We make each Popsicle with meticulousness.
We're making the same effort for the quality
of our ingredients as you take for the quality of your products.
Dhivya, your passion and dedication
are apparent.
But I think Peyush has a different reason.
I want the rest of you to announce your decisions.
[suspenseful music]
I made my decision.
- I liked the flavour. - Thank you!
I'll definitely be your customer but I won't be your investor
because your pricing is wrong.
[sweeping music]
If you sell the same thing at a lower cost,
- you can capture a larger market. - We can surely do that.
But you have a long way to go
to bring about a price change. I can't see the clarity.
It's too small for me right now.
But I wish you the best. I'm out for now.
[sweeping music]
I have three issues. Three P's.
One is the pricing issue.
The second is the potential issue.
And the third reason is, you want Peyush. So I'm out.
You'll get one offer for sure.
Two Sharks are out. Now Peyush wants to say something.
Firstly, I'm an investor in Skippi.
I understand.
And many people present here are investors in Skippi.
I want to be an investor in just one ice lolly business for now.
For this reason, I'm out.
One last thing, in an industry of Rs. 15,000 crores,
the same old same old is going on.
So we have the advantage of being a first mover.
You say that the ice-cream industry is worth Rs. 15,000 crores.
They are the figures of organised businesses.
You're right in saying that the ice-cream industry is vast.
The figure you said is for organised one. Unorganised is 10 times larger.
Rationally, many brands will be launched soon.
Because it's a hyper-competitive marketplace.
Your targeting and positioning should be so sharp
that you can create a space for yourself.
I can't see such a factor in your pitch
and that makes me feel that your growth would be hindered.
For this reason, I'm out today.
[sweeping music]
Please focus on your positioning
and your logo too. I wasn't joking when I talked about it.
It could be misunderstood
so please rethink your strategy.
But I wish you luck. And I hope you do well.
Build a great business from Nagpur.
Thank you so much!
Let me tell you my decision. I want to be out
of this business because I didn't really like the product.
And if I don't buy it myself, it'd be too difficult for me
to promote your product to the buyers.
I want to be out because of this reason.
- Amit, please don't be out. - Okay.
I'm an avid viewer of CarDekho PowerDrift.
You can surely take a chance with us.
He's smart! He knows who to target.
Please give us a chance
and you may taste the flavours of other brands.
Please don't opt out immediately.
You won't find a laborious couple like us.
[thrilling music]
Fine. I'll give you an offer.
Ha!
- Jesus Christ! - Oh, good!
- Thank you so much! - Thank you so much, Amit!
I was touched by your story from the beginning.
- Thank you so much! - Huh!
He doesn't have a conflict
- like us. - No. Conflict is not the reason.
Peyush, you can leave the pitches of ice lollies if that's the reason.
[snickering]
I don't trust the product
but I'm investing because of you. Let me clarify it.
We need to improve the product and the price point. Do you agree?
- Definitely! - Perfect!
I'll give Rs. 50 lakhs. Rs. 25 lakhs in debt
and Rs. 25 lakhs in equity.
I want 5% equity at a valuation of Rs. 5 crores.
- Deal done! - Deal done!
- Alright! - Congrats!
- Sure! - Guarantee me that you won't make a loss.
He saw your video on a regular basis.
Now I know why he did that. [chuckling]
You two are a sweet couple.
- Thank you so much! - Thank you so much!
- Thank you! - Congratulations! Let's make it large.
[photo clicking]
- Looking forward to getting in touch. - Thank you so much!
- Thank you, guys! - Alright!
[triumphant music]
Look! Look at the product.
- What is it? - You'll get enough content in it.
- What is it? - It's a petticoat!
- Gosh! - It's worn under the sari.
[chuckling]
[ethereal music]
- Hello, Sharks! - Hello!
All of us know how beautiful Indian women look in a sari.
Hmm!
It could be a sari worn at a wedding
or an Indian woman at the Miss Universe Pageant,
sari is an Indian women's prized possession.
But do you know the difficulties Indian women
endure after wearing a sari?
They move around with difficulty.
Using the washroom is a task.
[chuckling]
The border at the bottom of the sari becomes wet.
[chuckling]
It's a petticoat.
We have been seeing it for the last 500 years.
But it hasn't undergone any innovation till now.
[amusing music]
I have introduced Sayonara to change this scenario.
[comical music]
Sayonara is an innovative and revolutionary product.
[laughing]
When women use the washroom,
it will help them
and make their life easy.
Amazing thought!
Oh my God!
There are two benefits of Sayonara petticoats.
First, your hands remain free.
What?
You may use your mobile phone.
[laughing]
Women travellers on a train
could use their hands to balance themselves while relieving.
[laughing]
Sharks, there couldn't have been a better platform than Shark Tank
to launch my innovative and revolutionary product.
My ask is just Rs. 1 crore for 10% equity.
Thank you!
How are you feeling after coming here?
I'm a bit nervous and excited too.
Please don't be nervous because all the Sharks are friendly.
They fight among themselves but they won't fight with you.
[laughing]
Please introduce yourself.
I was born and brought up in Kolkata.
I worked there for a few years.
And then I went to Bengaluru. Currently, I'm working in Mumbai
- as a market researcher. - A market researcher!
Very interesting!
I have filed for an IP and it's pending.
to urinate, she'll have to pay you royalty.
If the design is similar, yes!
[laughing] [vocalising]
Suppose a woman visits a tailor
And I would like people to use it.
[laughing]
Sir, what is the significance of the two lines
in your logo?
It represents a petticoat.
But how?
A petticoat is trapezium-shaped.
But what do the lines represent?
Those are the drawstrings.
[chuckling]
Does it have some significance?
A petticoat is called 'saya' in Hindi.
Okay!
'Saya' is taken from that
and 'o' represents the two holes I made in it.
[chuckling] [comical music]
The 'o' is used because of the holes. And 'nara'
represents the drawstrings at the bottom
to give support. So I named it Sayonara.
Ah!
How many pieces have you sold till now?
It's at a prototype stage. I haven't started the production yet.
So it's a pre-revenue business.
It's pre-revenue because I can't moonlight.
You came directly to Shark Tank!
Namita, what's your view about this innovation?
I agree it's a problem
and we need this product.
But let me tell you that after this episode is aired,
innumerable tailors
and as many ladies will make this.
So I think they'll make it but they won't purchase it from him.
Let's just put it that way but...
- Why wouldn't they buy from him? - There's a need for sure.
They can make it on their own. It can easily be made.
But we need to put effort. We need the string...
No. It's simple. It can be copied easily.
What effort are you talking about? Please unfold it and show it to us.
- It'd be better if I show the product to all of you. - Okay!
Show it to me.
Look at the drawstring. A tailor wouldn't take the trouble
to stitch it
- and make it... - It can easily be stitched. What are you saying?
[upbeat music]
I'll tell you
why I'm out of your business. Firstly, you're pre-revenue.
If you could show some revenue, ma'am would have made an offer.
Ma'am was ready to invest.
[laughing]
Ma'am, I'll bring the revenue.
There are just two modifications. First, it has holes or slits.
And this drawstring... We can easily get them
from tennis bags.
They can stitch this and this too.
Many people will be inspired after they see this episode. Don't worry!
You did them a favour.
I made my decision and I want to be out.
It's an idea that can easily be copied.
I don't think it can be profitable as a business. So I want to be out.
Okay!
I'm out of it.
Think of another idea. It's not a great idea. Choose something else.
Henceforth, please don't think about doing this business.
Thank you!
I'm out of it. Please change your logo.
Other things could remain the same.
It's a necessary invention.
You may sell it in a shop.
Exclusive, special, multi-purpose, VIP
petticoat! It has a third use too.
If you wear it like this and insert your hands, it acts as a dress.
[laughing]
So you could sell an exclusive item this way.
We already found three uses.
Yes, it can be used in multiple ways.
You could launch your business
but it's difficult for it to become an investible business.
I don't think your patent will save your invention.
If you do the rounds of the court, even the judge will laugh at you.
[laughing]
How will you stop women?
[laughing]
For this reason, I'm out.
It can be turned into a dress.
[laughing]
'Amit, in today's Shark Xperience, '
'Raghav from Asansol has a question for you.'
'What qualities do you look for in an entrepreneur?'
'And at what point do you make the decision'
'to invest in a particular business?'
When I meet an entrepreneur,
I evaluate them in two dimensions.
First is the value system evaluation
and the functional excellence evaluation.
an eye for detail in their new businesses.
Only then a business succeeds and scales up.