1 00:00:33,640 --> 00:00:35,800 [bubbling] [ethereal music] 2 00:00:43,360 --> 00:00:46,440 [electricity crackling] 3 00:01:30,200 --> 00:01:31,560 - Hello, Sharks! - Hello! 4 00:01:31,640 --> 00:01:33,400 My name is Kalpit Patel 5 00:01:38,280 --> 00:01:40,480 I'm unrelenting to make it big. 6 00:01:40,960 --> 00:01:43,040 I'm unrelenting to bring about a revolution. 7 00:01:43,920 --> 00:01:47,720 All of us saw a revolution in the mobile communication industry. 8 00:01:48,080 --> 00:01:50,400 We moved on from landlines to personal mobile phones. 9 00:01:51,200 --> 00:01:53,680 We observed a similar revolution in computers 10 00:01:53,800 --> 00:01:56,200 from desktops to personal laptops. 11 00:01:56,280 --> 00:01:58,920 We are bringing a similar revolution 12 00:01:59,040 --> 00:02:01,800 in the passenger car segment with PMV. 13 00:02:06,920 --> 00:02:09,080 Why do we use it? 14 00:02:09,160 --> 00:02:11,520 We use it to go to the office, drop off the kids at school 15 00:02:11,760 --> 00:02:12,600 and for shopping. 16 00:02:12,680 --> 00:02:14,320 We travel 17 00:02:14,400 --> 00:02:17,600 in five or seven-seater SUVs to complete all these tasks. 18 00:02:18,320 --> 00:02:19,520 A 1,500 kg car 19 00:02:19,600 --> 00:02:21,840 carries a person weighing 70 kg. 20 00:02:23,120 --> 00:02:25,320 It creates several problems. 21 00:02:25,400 --> 00:02:27,240 We are giving a single solution 22 00:02:27,320 --> 00:02:29,520 for all the big problems 23 00:02:37,840 --> 00:02:39,240 of personal mobility? 24 00:02:39,320 --> 00:02:42,720 Introducing to you, EaS-E, Your Everyday Car. 25 00:02:42,800 --> 00:02:44,560 [triumphant music] 26 00:02:49,400 --> 00:02:50,480 Wow! 27 00:02:54,200 --> 00:02:55,720 Wow! [chuckling] 28 00:02:55,800 --> 00:02:57,640 [triumphant music] 29 00:03:04,920 --> 00:03:06,120 Cute! 30 00:03:06,560 --> 00:03:07,360 Thank you so much! 31 00:03:07,440 --> 00:03:09,040 Vineeta can easily fit inside it. 32 00:03:09,400 --> 00:03:10,280 [chuckling] 33 00:03:10,880 --> 00:03:12,040 I'm not sure about you. 34 00:03:12,960 --> 00:03:15,560 Sharks, EaS-E, Your Everyday Car 35 00:03:15,640 --> 00:03:17,120 is India's first 36 00:03:23,400 --> 00:03:25,800 PMV as a category similar to SUVs, 37 00:03:25,880 --> 00:03:28,600 Sedan and Hatchback. 38 00:03:29,560 --> 00:03:31,960 I'm standing before you 39 00:03:32,040 --> 00:03:33,480 to fulfil this vision. 40 00:03:33,600 --> 00:03:35,280 And I request Rs. 1 crore 41 00:03:44,480 --> 00:03:47,920 to make EaS-E the second car of every Indian? 42 00:03:49,800 --> 00:03:51,320 - Hi, Kalpit! - Hi! 43 00:03:51,440 --> 00:03:54,040 - Welcome to Shark Tank season 2. - Thank you so much! 44 00:03:54,120 --> 00:03:55,840 Why do your friends feel 45 00:04:06,040 --> 00:04:07,160 I'm an engineer. 46 00:04:07,240 --> 00:04:10,320 Later on, I completed my MBA and then worked in a bank. 47 00:04:11,160 --> 00:04:14,480 I used to go to the office daily. It was 10 kilometres away 48 00:04:14,560 --> 00:04:17,400 and it took me 45-60 minutes to reach there. 49 00:04:17,520 --> 00:04:19,240 I always felt 50 00:04:19,320 --> 00:04:22,960 that most personal cars have single or double occupancy. 51 00:04:23,040 --> 00:04:25,760 So practically speaking, a small car was needed. 52 00:04:25,840 --> 00:04:27,320 And it wasn't available in the market. 53 00:04:27,640 --> 00:04:30,520 First, I decided what to make. 54 00:04:30,600 --> 00:04:32,120 I didn't think about doing business. 55 00:04:32,200 --> 00:04:34,560 We made a prototype and we made more prototypes later. 56 00:04:34,640 --> 00:04:37,280 I did it around August 2018. 57 00:04:38,080 --> 00:04:40,920 And that is when I was blessed with a baby girl 58 00:04:41,800 --> 00:04:44,000 - in September 2018. - Congratulations! 59 00:04:44,080 --> 00:04:45,440 I'm not making this up 60 00:04:45,520 --> 00:04:48,120 but when I took her to see the doctor for the first time, 61 00:04:48,200 --> 00:04:50,120 there was no parking near the clinic. 62 00:04:50,240 --> 00:04:51,680 So I took her there in an autorickshaw. 63 00:04:51,760 --> 00:04:53,520 When I took her out in an autorickshaw, 64 00:04:53,600 --> 00:04:55,480 she started crying because of the pollution. 65 00:04:57,040 --> 00:04:59,000 She started wailing and coughing. 66 00:05:00,000 --> 00:05:03,240 That day I realised that we slog for our children. 67 00:05:03,320 --> 00:05:05,840 We give them the best education, the best vacation and the best toys. 68 00:05:05,920 --> 00:05:07,560 But what about the best air? 69 00:05:08,960 --> 00:05:10,680 So I realised 70 00:05:10,760 --> 00:05:13,640 that it's important to do it for the better future of our children. 71 00:05:14,400 --> 00:05:18,240 That's when we formalised the company in 2018, November. 72 00:05:23,360 --> 00:05:25,000 [upbeat music] 73 00:05:25,960 --> 00:05:27,440 How is it possible 74 00:05:27,520 --> 00:05:30,800 that you got an idea while travelling in an autorickshaw? 75 00:05:30,880 --> 00:05:33,160 And you made a car within two years! 76 00:05:33,280 --> 00:05:35,760 Not two years. Overall, I took six years. 77 00:05:35,840 --> 00:05:38,640 I got the concept in 2016. 78 00:05:39,000 --> 00:05:41,480 I learnt a plethora of things through experience. 79 00:05:41,560 --> 00:05:43,160 I visited numerous garages. 80 00:05:43,240 --> 00:05:46,240 I opened and inspected innumerable cars to see what's inside the car. 81 00:05:52,600 --> 00:05:55,760 Bigger companies invest crores of rupees in R&D. 82 00:05:55,880 --> 00:05:59,120 Or is this just assembled from parts all over the place? 83 00:05:59,240 --> 00:06:01,920 I can only invest crores of rupees if you invest in us. 84 00:06:02,000 --> 00:06:04,560 Boss, Rs. 1 crore won't help you. 85 00:06:04,680 --> 00:06:06,880 Rs. 1 crore is a small part 86 00:06:06,960 --> 00:06:08,720 of the bigger fundraising we are looking for. 87 00:06:13,560 --> 00:06:15,040 Who designed it mainly? 88 00:06:15,800 --> 00:06:18,480 Sir, multiple people helped me in the last five years. 89 00:06:18,560 --> 00:06:20,960 And we also take help from outside vendors. 90 00:06:21,040 --> 00:06:23,360 Typically, other OEMs also do the same. 91 00:06:23,440 --> 00:06:25,960 I took their help and manufactured it 92 00:06:26,080 --> 00:06:27,640 with a small team I made. 93 00:06:27,720 --> 00:06:30,600 Is this design your team's 94 00:06:30,720 --> 00:06:32,040 or your vendors'? 95 00:06:32,160 --> 00:06:33,040 No. The design is ours. 96 00:06:33,120 --> 00:06:36,320 And who is the second core team member besides you? 97 00:06:37,200 --> 00:06:39,400 His name is Namdev Jhadkar. 98 00:06:39,480 --> 00:06:42,320 He has 25 years of experience in vehicle building. 99 00:06:42,400 --> 00:06:44,480 Are you done with all types of certifications? 100 00:06:44,600 --> 00:06:46,160 Certifications need to be taken. 101 00:06:46,240 --> 00:06:47,840 The engineering work is going on. 102 00:06:47,920 --> 00:06:51,200 We need to get the certification to go for production. 103 00:06:51,280 --> 00:06:54,280 I must appreciate you because it's a bold step. 104 00:06:55,280 --> 00:06:57,520 Please explain its features 105 00:07:03,480 --> 00:07:05,400 - Does your car run with an app? - Yes! 106 00:07:05,480 --> 00:07:07,400 [ethereal music] 107 00:07:08,840 --> 00:07:10,200 Can you see the lights? 108 00:07:12,080 --> 00:07:14,600 For example, you're parking your car 109 00:07:14,680 --> 00:07:16,400 but it's dark ahead. 110 00:07:16,480 --> 00:07:20,000 So you can just switch on the headlights from your app. 111 00:07:21,640 --> 00:07:23,520 Oh! Nice! 112 00:07:23,600 --> 00:07:27,040 - Did you make this tech or... - Yes! We invented it. 113 00:07:27,240 --> 00:07:28,840 - Nice! Very nice. - Its software? 114 00:07:28,920 --> 00:07:31,040 - We made the software. - What about IoT? 115 00:07:31,120 --> 00:07:33,120 - Everything! - Okay, very good! 116 00:07:33,200 --> 00:07:34,000 Very cute! 117 00:07:34,120 --> 00:07:37,360 Suppose, you park your car in a parking lot 118 00:07:37,440 --> 00:07:40,080 but you don't remember where you parked your car. 119 00:07:41,600 --> 00:07:43,880 Then you can remotely blow its horn. 120 00:07:43,960 --> 00:07:45,000 That's cool. 121 00:07:45,080 --> 00:07:46,240 It's cute. 122 00:07:46,320 --> 00:07:48,120 In case, you parked your car 123 00:07:48,200 --> 00:07:50,600 but another person parked his car close to yours on the left side 124 00:07:50,680 --> 00:07:53,640 and on the right side too, 125 00:07:53,720 --> 00:07:56,040 you may control your car 126 00:07:56,480 --> 00:07:58,320 while standing outside. 127 00:07:58,720 --> 00:07:59,680 Whoa! 128 00:08:03,360 --> 00:08:05,240 - Wow! - Wow! 129 00:08:06,160 --> 00:08:08,600 - It's an amazing feature. - Shall I sit in your car? 130 00:08:09,760 --> 00:08:10,760 Anupam, come on! 131 00:08:12,120 --> 00:08:14,000 [upbeat music] 132 00:08:17,440 --> 00:08:20,040 Please take the picture of the person sitting on the lap. 133 00:08:20,720 --> 00:08:21,720 Eternal love! 134 00:08:22,800 --> 00:08:26,360 This is the instrument cluster and this is the infotainment system. 135 00:08:26,440 --> 00:08:28,600 - Whenever you blow the horn... - Very nice! 136 00:08:28,680 --> 00:08:30,240 A counter will be displayed here. 137 00:08:30,320 --> 00:08:31,600 Normally, 138 00:08:31,680 --> 00:08:35,080 a driver doesn't realise the impact of the horn. 139 00:08:35,160 --> 00:08:38,040 But a number will be displayed here which will show 140 00:08:38,160 --> 00:08:41,400 the number of times you honked so that you become conscious. 141 00:08:41,480 --> 00:08:43,200 And you won't honk the horn again. 142 00:08:43,280 --> 00:08:45,800 - And now we... - That's enough. 143 00:08:46,960 --> 00:08:48,440 - Hey! - That's enough. 144 00:08:50,320 --> 00:08:51,920 [upbeat music] 145 00:09:01,240 --> 00:09:03,760 Kalpit, let me tell you 146 00:09:03,840 --> 00:09:05,920 - that many features are good. - Thank you! 147 00:09:06,040 --> 00:09:09,680 It's a new concept so all of us are curious about it. 148 00:09:10,360 --> 00:09:13,600 And a heart is displayed when we blow the horn. 149 00:09:13,840 --> 00:09:15,760 I think it's an innovative feature. 150 00:09:15,840 --> 00:09:19,040 I feel it should be incorporated in regular cars to reduce the honking. 151 00:09:19,240 --> 00:09:20,320 Correct! 152 00:09:20,400 --> 00:09:22,720 Secondly, you've made the backseat spacious. 153 00:09:37,680 --> 00:09:39,360 Why will it be the second? It can be the first too. 154 00:09:39,440 --> 00:09:41,560 In a typical Indian household, 155 00:09:41,680 --> 00:09:44,800 a car is a family-oriented item. 156 00:09:45,480 --> 00:09:47,640 When a person buys a car, 157 00:09:47,720 --> 00:09:51,680 they expect their first car to be a four-seater or a five-seater. 158 00:09:52,800 --> 00:09:53,880 But this car is a two-seater. 159 00:09:53,960 --> 00:09:56,440 Suppose he buys a bigger car. 160 00:09:56,520 --> 00:09:59,160 Will he buy a smaller car later? 161 00:09:59,240 --> 00:10:00,320 - Hmm! - Why? 162 00:10:00,400 --> 00:10:01,360 For example, 163 00:10:01,440 --> 00:10:04,800 we don't use an axe for shaving but a blade. 164 00:10:04,880 --> 00:10:07,200 Because it's meant for the right purpose. 165 00:10:09,040 --> 00:10:11,760 Similarly, if you want to travel for just 15 kilometres 166 00:10:11,840 --> 00:10:13,800 and you'd travel alone, 167 00:10:13,920 --> 00:10:17,120 driving a five-seater SUV 168 00:10:17,200 --> 00:10:19,560 and getting stuck in the traffic jam doesn't make sense. 169 00:10:20,440 --> 00:10:21,960 Kalpit, I have a question. 170 00:10:22,040 --> 00:10:25,520 Have you heard about the Quadricycle concept in EV? 171 00:10:32,400 --> 00:10:36,680 You must have heard about a popular quadricycle named Qute. 172 00:10:37,440 --> 00:10:39,680 What's the difference between a quadricycle and a car? 173 00:10:39,760 --> 00:10:41,840 What's the difference in their regulations? 174 00:10:41,920 --> 00:10:45,240 Qute will be launched as an electric vehicle. 175 00:10:45,320 --> 00:10:46,840 What's the difference between their car and your car? 176 00:10:46,920 --> 00:10:50,160 Typically, when a car is launched, 177 00:10:50,280 --> 00:10:51,720 it gets a Type Approval. 178 00:10:53,000 --> 00:10:55,320 Quadricycle is L7 technically. 179 00:10:56,200 --> 00:10:59,280 And the regular cars are in the M1 category. 180 00:10:59,360 --> 00:11:00,560 Correct! 181 00:11:01,000 --> 00:11:03,840 There is no speed restriction in the M1 category. 182 00:11:03,960 --> 00:11:06,200 On the other hand, there's a speed restriction in the L7 category. 183 00:11:06,280 --> 00:11:09,560 Around 70 km/hr is its top speed. 184 00:11:10,680 --> 00:11:12,040 There's a weight restriction for it 185 00:11:12,120 --> 00:11:14,720 and we can't load more than 450 kilograms. 186 00:11:14,800 --> 00:11:16,240 Plus the weight of the battery pack. 187 00:11:17,400 --> 00:11:18,960 And there's power restriction too. 188 00:11:19,040 --> 00:11:21,120 We can't cross 15 kilowatts. 189 00:11:22,520 --> 00:11:24,120 If you study Qute, 190 00:11:24,200 --> 00:11:26,440 you'll realise that it's claustrophobic. 191 00:11:26,560 --> 00:11:28,320 You won't feel that way in this car. 192 00:11:29,560 --> 00:11:31,000 What is its price? 193 00:11:40,760 --> 00:11:43,200 If I have Rs. 4 lakhs, 194 00:11:43,680 --> 00:11:44,600 why would I buy it? 195 00:11:45,800 --> 00:11:47,560 Sir, it can be driven for 50 paise. 196 00:11:47,680 --> 00:11:48,920 Just 50 paise per kilometre. 197 00:11:49,000 --> 00:11:50,960 Any electric car will cost the same. 198 00:11:52,800 --> 00:11:53,840 It's slightly higher. 199 00:11:53,920 --> 00:11:57,200 A bigger size car will cost rupee 1/km but the difference isn't much. 200 00:11:58,760 --> 00:12:00,600 Safety-wise it's a compromise 201 00:12:00,680 --> 00:12:02,200 because it's small and concise. 202 00:12:02,320 --> 00:12:05,040 The safety is less than a normal car. 203 00:12:07,600 --> 00:12:09,440 How many airbags? Please tell us that. 204 00:12:09,560 --> 00:12:11,160 We can install it at an additional cost. 205 00:12:11,240 --> 00:12:12,800 Then the car will cost Rs. 5 lakhs. 206 00:12:12,880 --> 00:12:13,680 It'll be costlier. 207 00:12:13,800 --> 00:12:15,360 - It could cost Rs. 6 lakhs. - Costlier! 208 00:12:15,840 --> 00:12:17,160 Did you estimate 209 00:12:17,240 --> 00:12:19,080 your market size 210 00:12:19,200 --> 00:12:21,400 for microcars? For now, it's zero. 211 00:12:23,640 --> 00:12:25,920 We haven't done promotional activities till now? 212 00:12:26,000 --> 00:12:29,120 We have spent a little over maybe one and a half lakh rupees. 213 00:12:29,200 --> 00:12:31,720 And we have already received 1,000 pre-orders 214 00:12:38,600 --> 00:12:40,920 Obviously, all of them won't be converted. 215 00:12:42,000 --> 00:12:44,400 Even before we go into production... 216 00:12:44,480 --> 00:12:46,800 It's around next year, April. 217 00:12:46,880 --> 00:12:50,000 We'll have 10,000 paid pre-orders before that. 218 00:12:51,400 --> 00:12:54,360 And the order book size will be around Rs. 500 crores. 219 00:13:03,760 --> 00:13:08,120 People in India closely link cars with perceptions. 220 00:13:08,200 --> 00:13:12,320 So I don't think this specific design and model 221 00:13:12,440 --> 00:13:14,240 has the potential to gain momentum. 222 00:13:14,360 --> 00:13:15,640 [tense music] 223 00:13:15,720 --> 00:13:17,880 If you choose to iterate your journey, 224 00:13:17,960 --> 00:13:20,560 I think you will be able to crack the problem. 225 00:13:20,680 --> 00:13:22,240 Best of luck to you. I'm out for now. 226 00:13:22,760 --> 00:13:24,360 Thank you so much! 227 00:13:24,440 --> 00:13:26,680 Kalpit, I don't think it'll sell. 228 00:13:27,840 --> 00:13:30,400 It's neither a car nor a bike and it costs Rs. 4 lakhs. 229 00:13:31,600 --> 00:13:34,520 I think there's some issue with it. 230 00:13:34,600 --> 00:13:36,520 I'm not sure what the problem is. 231 00:13:36,600 --> 00:13:38,680 As a consumer, I don't understand this product's usability. 232 00:13:38,760 --> 00:13:40,640 So I don't want to enter this business. 233 00:13:41,520 --> 00:13:44,160 - For that reason, I'm out. - Okay. Thank you so much! 234 00:13:54,960 --> 00:13:57,720 And for that reason, I'm out but I wish you the best. 235 00:13:58,280 --> 00:13:59,800 Thank you so much, ma'am. 236 00:13:59,880 --> 00:14:02,560 - Kalpit, what's your age? - I'm 35 years old. 237 00:14:02,640 --> 00:14:05,280 You spent a lot of money making it. How much money did you invest? 238 00:14:05,360 --> 00:14:09,520 Sir, the actual cash would be somewhere around Rs. 50 lakhs. 239 00:14:10,720 --> 00:14:12,200 - Was it your money? - Yes! 240 00:14:12,320 --> 00:14:15,960 And we have raised some money from some investors too. 241 00:14:16,040 --> 00:14:17,040 How much money did you raise? 242 00:14:17,120 --> 00:14:19,680 Overall, we have raised around Rs. 53 lakhs 243 00:14:19,920 --> 00:14:21,680 from a few investors. 244 00:14:23,240 --> 00:14:27,160 First, we raised it in October-November 2020. 245 00:14:28,200 --> 00:14:31,520 Back then we raised Rs. 19 lakhs on a valuation cap of Rs. 10 crores. 246 00:14:47,760 --> 00:14:49,200 because I didn't have the background 247 00:14:49,280 --> 00:14:50,760 and I had to learn many things. 248 00:14:50,840 --> 00:14:52,920 Things related to battery, manufacturing 249 00:14:53,000 --> 00:14:54,240 and vehicle design. 250 00:14:54,320 --> 00:14:56,800 What lines look better than the others? 251 00:14:56,920 --> 00:14:58,080 So let me tell you something, 252 00:14:58,160 --> 00:14:59,880 it's our fourth iteration. 253 00:14:59,960 --> 00:15:02,680 We have already designed three iterations before this. 254 00:15:03,640 --> 00:15:06,040 Did you make five iterations in Rs. 1 crore? 255 00:15:06,120 --> 00:15:08,360 We didn't build a car. They were just designs. 256 00:15:08,440 --> 00:15:11,040 - It was just sketching the design. - Very good! 257 00:15:11,120 --> 00:15:12,040 Very good! 258 00:15:12,160 --> 00:15:14,440 - That's amazing. You reached here by spending a pittance. - Right! 259 00:15:14,520 --> 00:15:16,720 - That's a pittance. - It's a remarkable feat. 260 00:15:17,200 --> 00:15:19,960 I must laud your courage and determination 261 00:15:20,040 --> 00:15:21,440 for reaching here. 262 00:15:21,560 --> 00:15:24,440 How much amount do you need? You said that you're raising money. 263 00:15:24,520 --> 00:15:26,800 That's the reason, you came here with a valuation of Rs. 100 crores. 264 00:15:37,120 --> 00:15:38,560 I made my decision. 265 00:15:40,680 --> 00:15:42,640 As it's a big business, 266 00:15:42,720 --> 00:15:45,320 you must bring investors 267 00:15:45,400 --> 00:15:46,920 who have knowledge in this area. 268 00:15:47,000 --> 00:15:51,200 Unfortunately, I can't bring the required knowledge to your business. 269 00:15:52,120 --> 00:15:53,680 So I'm out 270 00:15:53,760 --> 00:15:57,440 but please continue your work and I wish you the best of luck. 271 00:15:57,520 --> 00:15:59,400 Thank you so much! 272 00:15:59,520 --> 00:16:02,840 - Look! I really enjoyed your journey. - Okay. 273 00:16:02,920 --> 00:16:05,680 I can't fathom how you managed to reach here. 274 00:16:07,360 --> 00:16:09,640 But I want to bet on you. 275 00:16:09,720 --> 00:16:10,560 Ooh! 276 00:16:11,440 --> 00:16:13,560 So I'll make an offer to you. 277 00:16:14,720 --> 00:16:15,600 Wow! 278 00:16:16,320 --> 00:16:17,680 I'm betting only on you. 279 00:16:19,400 --> 00:16:22,080 - I'd never bet on this car. - Okay! 280 00:16:23,320 --> 00:16:26,960 My offer would be based on your last round of valuation. 281 00:16:27,040 --> 00:16:29,040 So I'll give you Rs. 60 lakhs 282 00:16:30,000 --> 00:16:31,600 at the same valuation 283 00:16:31,680 --> 00:16:33,680 and I'll give you Rs. 40 lakhs as a loan 284 00:16:35,640 --> 00:16:37,600 at an interest rate that we'll determine later. 285 00:16:47,360 --> 00:16:49,480 Our deal will be closed beforehand. 286 00:16:49,560 --> 00:16:51,640 I just want to see the traction 287 00:16:51,720 --> 00:16:53,680 - that you'd reach that number. - Right! 288 00:16:55,600 --> 00:16:58,440 Thank you so much for making an offer. 289 00:16:58,520 --> 00:17:00,480 Can I go and ponder your offer? 290 00:17:00,560 --> 00:17:02,120 - Yes! - Sure! 291 00:17:02,200 --> 00:17:03,400 Fine. 292 00:17:07,720 --> 00:17:10,360 I think he's on a journey which can become big. 293 00:17:10,480 --> 00:17:12,280 What he fails to understand 294 00:17:12,360 --> 00:17:14,400 is that the product needs to be aspirational. 295 00:17:14,480 --> 00:17:16,920 - I think you must help him make the next model. - I'll teach him. 296 00:17:17,000 --> 00:17:18,920 - We'll teach him. - It must appear aspirational. 297 00:17:22,000 --> 00:17:24,120 Kalpit, welcome back. 298 00:17:24,200 --> 00:17:25,400 Yes, thank you! 299 00:17:25,760 --> 00:17:27,800 Did you like Mr. Mittal's offer or not? 300 00:17:27,920 --> 00:17:29,360 Oh! 301 00:17:29,440 --> 00:17:31,240 Although I like Mr. Mittal, 302 00:17:31,320 --> 00:17:34,640 if you could increase the amount of your offer, 303 00:17:34,760 --> 00:17:36,320 it'd be a great help. 304 00:17:37,480 --> 00:17:39,680 I request you 305 00:17:39,760 --> 00:17:41,680 to make an offer according to Rs. 50 crores valuation 306 00:17:41,760 --> 00:17:45,160 and please don't give a debt because I can't repay debt as of now. 307 00:17:46,880 --> 00:17:49,560 - So please invest Rs. 1 crore. - For 2%! 308 00:17:49,640 --> 00:17:52,240 And consider a valuation of Rs. 50 crores. 309 00:17:53,520 --> 00:17:55,240 Your counteroffer is Rs. 1 crore 310 00:18:01,280 --> 00:18:03,400 - Correct! - Kalpit, I already said before 311 00:18:03,480 --> 00:18:06,080 that I'm not making an offer for your prototype. 312 00:18:06,360 --> 00:18:07,440 Right! 313 00:18:07,800 --> 00:18:09,320 I don't like this prototype. 314 00:18:10,800 --> 00:18:13,720 I like you and I want to invest money in you. 315 00:18:13,800 --> 00:18:17,280 The tenacity you showed in the last few years 316 00:18:17,400 --> 00:18:19,440 makes me feel that you'd succeed in future. 317 00:18:21,320 --> 00:18:23,160 I can do one thing. 318 00:18:24,640 --> 00:18:26,800 You want me to remove the debt part. 319 00:18:26,880 --> 00:18:29,120 I'll remove it and give you Rs. 1 crore in return for equity. 320 00:18:29,200 --> 00:18:31,440 But I can't surpass the last valuation. 321 00:18:33,240 --> 00:18:34,800 I don't think 322 00:18:34,880 --> 00:18:38,080 that you have made enough progress since the last round 323 00:18:38,160 --> 00:18:41,720 for me to give you even twice the valuation. 324 00:18:44,840 --> 00:18:47,320 So you have Anupam's counteroffer. 325 00:18:47,440 --> 00:18:49,640 [dramatic music] 326 00:18:50,000 --> 00:18:52,800 Rs. 1 crore for 6.67% equity. 327 00:19:01,360 --> 00:19:03,320 First of all, thank you so much, everybody. 328 00:19:03,400 --> 00:19:05,400 And, sir, thank you so much for your offer 329 00:19:05,480 --> 00:19:08,160 but I can't accept your offer. 330 00:19:08,280 --> 00:19:10,160 [sweeping music] 331 00:19:10,280 --> 00:19:12,120 As I feel that we have slogged 332 00:19:12,200 --> 00:19:14,880 and if we don't get its value, 333 00:19:14,960 --> 00:19:17,160 it won't be useful for us. 334 00:19:18,240 --> 00:19:19,480 So I'm sorry 335 00:19:19,560 --> 00:19:21,120 but I can't accept this offer. 336 00:19:21,200 --> 00:19:24,400 - It's okay. - Kalpit, it's okay. It's nice 337 00:19:24,480 --> 00:19:26,960 that you came here and listened to my offer. 338 00:19:27,320 --> 00:19:28,400 - Thank you so much! - All the best! 339 00:19:28,480 --> 00:19:30,800 - All the best, Kalpit! Thanks! - Thank you! 340 00:19:30,920 --> 00:19:33,040 [sweeping music] 341 00:19:34,320 --> 00:19:36,600 [music playing] 342 00:19:38,880 --> 00:19:41,000 [thrilling music playing] 343 00:21:21,840 --> 00:21:24,160 - Namaste Sharks. - Namaste. 344 00:21:24,240 --> 00:21:26,240 Imagine the movie, Sholay. 345 00:21:26,560 --> 00:21:27,760 Ooh. 346 00:21:28,280 --> 00:21:29,920 - Without Basanti. - Oh. 347 00:21:30,280 --> 00:21:33,280 Or Salim, without Anarkali. 348 00:21:33,360 --> 00:21:34,640 Oh. 349 00:21:34,720 --> 00:21:35,800 Or this tank 350 00:21:36,280 --> 00:21:38,240 - without all of you. - Oh my God. 351 00:21:38,880 --> 00:21:41,000 Just like 352 00:21:41,080 --> 00:21:43,560 samosa without spicy chutney. 353 00:21:44,360 --> 00:21:46,800 Or idli without coconut chutney. 354 00:21:46,920 --> 00:21:48,880 - No. - That would be an injustice. 355 00:21:48,960 --> 00:21:50,360 You are not enjoying it, right? 356 00:21:52,120 --> 00:21:55,240 We are team Spice Story and we have brought for you 357 00:21:56,120 --> 00:21:59,320 the taste of flavours from Indian streets in a sauce form. 358 00:22:21,120 --> 00:22:24,360 we distribute these local flavours worldwide. 359 00:22:24,440 --> 00:22:26,520 And to fulfil this mission 360 00:22:26,600 --> 00:22:28,120 we need your support. 361 00:22:29,200 --> 00:22:30,280 Our ask is 362 00:22:37,640 --> 00:22:39,360 44, from Mumbai. 363 00:22:39,800 --> 00:22:42,760 With me is chef Vibhor. He is 40 years old. 364 00:22:47,240 --> 00:22:48,640 - Very good choice. - Very smart. 365 00:22:48,720 --> 00:22:49,520 It's good. 366 00:23:00,000 --> 00:23:03,240 And how did you decide to work together? 367 00:23:03,320 --> 00:23:04,960 I'm a distribution guy by choice. 368 00:23:05,040 --> 00:23:08,480 I have done distribution for 21 years in FMCG and financial services. 369 00:23:08,560 --> 00:23:10,800 - I have worked in 5 countries. - Oh, nice. 370 00:23:10,920 --> 00:23:12,800 In 19 cities in India. 371 00:23:12,920 --> 00:23:14,360 The advertising agency that I used to work in 372 00:23:14,440 --> 00:23:16,960 was also where Gayatri had worked at some time. 373 00:23:17,040 --> 00:23:19,680 I convinced Gayatri to come and work with me. 374 00:23:19,760 --> 00:23:20,960 You have worked on the side of brands. 375 00:23:21,040 --> 00:23:23,280 Either we will fight or create something amazing. 376 00:23:23,360 --> 00:23:25,480 [laughter] 377 00:23:26,600 --> 00:23:29,360 I met Vibhor the same way. Initially, we made only 2 or 3 chutneys. 378 00:23:29,720 --> 00:23:32,520 He tasted it and asked me if I was selling it. 379 00:23:32,600 --> 00:23:33,560 I said yes. 380 00:23:33,680 --> 00:23:34,720 He said it was horrible. 381 00:23:34,800 --> 00:23:37,120 [laughter] 382 00:23:38,040 --> 00:23:39,360 I asked him if he could make it. 383 00:23:39,640 --> 00:23:41,320 He said yes, so I said, make it. 384 00:23:43,440 --> 00:23:45,080 Our passion and you can see it when you see us, 385 00:23:45,160 --> 00:23:46,760 is that we are alive for eating. 386 00:23:46,840 --> 00:23:48,160 [laughter] 387 00:23:48,280 --> 00:23:50,640 So this keeps us together. 388 00:23:50,720 --> 00:23:52,040 This is our story, ma'am. 389 00:23:53,880 --> 00:23:55,760 - Before we get into the business... - yeah. 390 00:23:55,880 --> 00:23:58,920 Let's start the exciting part and eat. 391 00:23:59,760 --> 00:24:00,720 The food. 392 00:24:00,840 --> 00:24:02,360 [laughter] 393 00:24:02,440 --> 00:24:03,560 Please come. 394 00:24:04,440 --> 00:24:05,560 What would you like to taste? 395 00:24:05,640 --> 00:24:06,760 I would like to taste everything. 396 00:24:06,840 --> 00:24:09,520 - Your packaging is very attractive. - Thank you. 397 00:24:09,640 --> 00:24:10,320 What is this? 398 00:24:10,400 --> 00:24:13,000 This is an onion tomato thokku. It's a South Indian chutney. 399 00:24:13,120 --> 00:24:15,240 - Let's go there and eat. - I'll serve you this Kolkata... 400 00:24:15,320 --> 00:24:16,920 Yes, give me that to taste. 401 00:24:17,160 --> 00:24:19,080 [lively music] 402 00:24:23,880 --> 00:24:27,120 The dahi bhalla you are eating has Agra ki saunth. 403 00:24:27,200 --> 00:24:28,400 And Dilli wali mint chutney. 404 00:24:28,480 --> 00:24:31,320 The dahi bhalla is outstanding with the chutneys. 405 00:24:39,400 --> 00:24:40,800 It's not tasting very different. 406 00:24:40,920 --> 00:24:43,320 No, but the fact that it is not different 407 00:24:43,400 --> 00:24:45,320 is a big deal if it's coming from a... 408 00:24:45,400 --> 00:24:46,720 Bottle. I loved it. 409 00:24:46,800 --> 00:24:50,520 - I just had this Indori lemon, it's mind-blowing. - It's amazing. 410 00:24:50,600 --> 00:24:51,320 I agree. 411 00:24:51,400 --> 00:24:54,680 I really liked it. I am going to steal one bottle today. 412 00:24:55,360 --> 00:24:58,840 All the chutneys I had were super amazing. 413 00:25:00,080 --> 00:25:03,360 - Overall, 10/10 in my book. - Well done. 414 00:25:03,440 --> 00:25:04,920 Thank you so much. 415 00:25:06,720 --> 00:25:08,480 - Who is the CEO? - I'm the CEO. 416 00:25:08,560 --> 00:25:10,000 And equity distribution? 417 00:25:10,080 --> 00:25:13,160 - We three have around 55% shares. - Oh. 418 00:25:13,240 --> 00:25:14,320 Oh. 419 00:25:23,160 --> 00:25:23,960 Okay. 420 00:25:24,080 --> 00:25:27,120 They are not full time so they are not in the co-founding system. 421 00:25:27,200 --> 00:25:29,800 They both have 21% more. 422 00:26:01,920 --> 00:26:04,160 Which has endless consumption in our country. 423 00:26:04,280 --> 00:26:05,400 Yes, absolutely. 424 00:26:05,520 --> 00:26:07,360 The growth should have been much more. 425 00:26:07,480 --> 00:26:09,120 I agree. 426 00:26:10,200 --> 00:26:13,080 You should have been a 30 crore company if not more. 427 00:26:13,200 --> 00:26:16,400 - Absolutely. - So what happened? Could you not change habits? 428 00:26:16,520 --> 00:26:18,560 Or was there something lacking in your execution? 429 00:26:18,640 --> 00:26:20,920 [dramatic music] 430 00:26:21,360 --> 00:26:23,800 Anupam, we are going a bit slow because 431 00:26:23,880 --> 00:26:25,520 when you establish a new category, 432 00:26:25,640 --> 00:26:27,640 it requires a lot of cash burn. 433 00:26:27,720 --> 00:26:30,080 But going slow is finishing your capital. 434 00:26:30,160 --> 00:26:32,080 [dramatic music] 435 00:26:34,200 --> 00:26:35,880 How much money did you invest in the business? 436 00:26:35,960 --> 00:26:37,760 Around Rs. 65 lakhs. 437 00:26:37,840 --> 00:26:40,160 - How much did you raise? - Yes, what's that amount? 438 00:26:40,240 --> 00:26:42,040 4.7 crores in 2 rounds. 439 00:26:42,120 --> 00:26:42,880 Valuation? 440 00:26:42,960 --> 00:26:46,520 We first raised 1.7 crores in 2021. 441 00:27:11,720 --> 00:27:15,000 - Almost 10 times sales. - Yes. 442 00:27:15,080 --> 00:27:16,880 Very generous investor. 443 00:27:16,960 --> 00:27:18,640 [dramatic music] 444 00:27:18,720 --> 00:27:21,080 And you profitably grossed 4 crores last year? 445 00:27:21,080 --> 00:27:24,200 - We are CM1 positive so... - CM1 positive? 446 00:27:25,680 --> 00:27:28,960 - We... -One minute, let's explain to the viewers. 447 00:27:29,080 --> 00:27:30,640 What does CM mean? 448 00:27:30,800 --> 00:27:32,240 Contribution margin. 449 00:27:32,320 --> 00:27:33,840 What does CM1 mean? 450 00:27:33,920 --> 00:27:35,840 Where we have the channel margin, 451 00:27:35,920 --> 00:27:38,760 shipping, logistics, COGS etc. 452 00:28:05,880 --> 00:28:07,560 But why will you be doing that? 453 00:28:07,640 --> 00:28:10,040 Why would you sell anything at a loss? 454 00:28:10,120 --> 00:28:11,440 [dramatic music] 455 00:28:11,560 --> 00:28:14,840 And also tell us, why you've been doing it for 3 years? 456 00:28:14,920 --> 00:28:17,480 We feel we are still in the trial stage where 457 00:28:17,560 --> 00:28:19,120 we are acquiring customers. 458 00:28:21,160 --> 00:28:22,600 I don't understand it. 459 00:28:22,680 --> 00:28:24,360 [dramatic music] 460 00:28:25,000 --> 00:28:29,200 If it is some good food, people get addicted and keep buying. 461 00:28:29,280 --> 00:28:30,600 There is word of mouth. 462 00:28:30,680 --> 00:28:33,200 I'm doubting your execution capabilities. 463 00:28:33,480 --> 00:28:35,080 [dramatic music] 464 00:28:36,040 --> 00:28:37,920 You said your contribution margin, 465 00:28:38,000 --> 00:28:41,200 the money saved after performance marketing is negative. 466 00:28:41,280 --> 00:28:41,960 Yes. 467 00:28:42,040 --> 00:28:43,840 But you also said 468 00:28:43,920 --> 00:28:47,800 you had a net revenue of 57 lakhs last month. 469 00:28:47,880 --> 00:28:49,880 I did not understand these numbers. 470 00:28:49,960 --> 00:28:50,800 - Paras... - You didn't hear me. 471 00:28:50,880 --> 00:28:51,840 Sorry. 472 00:29:08,920 --> 00:29:10,640 That's it. 473 00:29:15,400 --> 00:29:17,040 [dramatic music] 474 00:29:20,720 --> 00:29:22,720 What is the total EBITDA loss per month? 475 00:29:25,160 --> 00:29:26,200 You have to think? 476 00:29:31,320 --> 00:29:32,600 I don't understand anything. 477 00:29:35,440 --> 00:29:36,880 Soumyadeep, to be honest with you. 478 00:29:36,960 --> 00:29:38,440 You seem a little aloof. 479 00:29:40,000 --> 00:29:41,800 There is something wrong with the story. 480 00:29:41,960 --> 00:29:43,520 I think the product must be expensive. 481 00:29:47,840 --> 00:29:50,320 Why this sad story for Spice Story? 482 00:29:50,400 --> 00:29:52,440 [dramatic music] 483 00:29:53,400 --> 00:29:54,560 There is something. 484 00:29:57,120 --> 00:29:59,280 There are two things. 485 00:29:59,840 --> 00:30:02,160 The lockdown happened in 2020. 486 00:30:02,680 --> 00:30:04,160 We went to Spencer's 487 00:30:04,280 --> 00:30:06,760 and then retail went into a complete shutdown. 488 00:30:06,840 --> 00:30:09,600 And we saw this twice in the last two years. 489 00:30:09,680 --> 00:30:12,480 So our primary channel to reach the audience... 490 00:30:12,480 --> 00:30:15,000 slowed down a lot. 491 00:30:15,400 --> 00:30:16,840 Hmm. 492 00:30:16,960 --> 00:30:21,240 We launched E-commerce around 18 months ago. 493 00:30:21,320 --> 00:30:24,480 When we learnt that we will not benefit from modern trade. 494 00:30:24,560 --> 00:30:26,360 - Absolutely. - So we had no choice 495 00:30:26,480 --> 00:30:28,240 because we had to keep going. 496 00:30:28,560 --> 00:30:31,000 So we focused only on Amazon. 497 00:30:31,080 --> 00:30:32,760 Then we launched on Flipkart. 498 00:30:32,920 --> 00:30:36,680 In that manner, we grew our business. 499 00:30:37,680 --> 00:30:39,600 - Now I agree with the story. - Yeah? 500 00:30:40,920 --> 00:30:41,880 We understood the truth. 501 00:30:41,960 --> 00:30:43,920 We tried asking him 4-5 times 502 00:30:44,000 --> 00:30:47,800 but you explained truthfully why the problem happened. 503 00:30:48,320 --> 00:30:49,840 He is a salesperson 504 00:30:49,920 --> 00:30:52,520 so he is trying to say what he thinks we want to hear. 505 00:30:52,600 --> 00:30:54,240 [laughter] 506 00:30:55,400 --> 00:30:58,360 - She is telling us the truth. - Correct. 507 00:31:00,000 --> 00:31:01,320 I've made my decision. 508 00:31:01,400 --> 00:31:03,120 [dramatic music] 509 00:31:03,200 --> 00:31:06,320 My expectation has been quite mismatched. 510 00:31:07,320 --> 00:31:09,600 I thought you all would be exploding in the market. 511 00:31:10,440 --> 00:31:13,560 Execution is a big issue in your team. 512 00:31:14,960 --> 00:31:17,040 This is where I drop off for now. 513 00:31:18,920 --> 00:31:21,680 You guys have the right product. 514 00:31:21,760 --> 00:31:23,760 A lot can happen if your product is good. 515 00:31:23,840 --> 00:31:25,240 Improve these remaining things. 516 00:31:25,600 --> 00:31:27,480 Someday we shall meet again. 517 00:31:27,720 --> 00:31:29,080 Absolutely, sir. 518 00:31:30,360 --> 00:31:31,920 I made my decision too. 519 00:31:33,040 --> 00:31:34,520 I did not understand 520 00:31:34,600 --> 00:31:37,160 that in a company where the biggest hero is the product, 521 00:31:37,840 --> 00:31:40,800 your chef who is your key partner, 522 00:31:40,880 --> 00:31:42,520 why is his equity so low? 523 00:31:42,520 --> 00:31:44,560 [dramatic music] 524 00:31:44,640 --> 00:31:47,560 My second problem is that your cap table 525 00:31:47,640 --> 00:31:50,480 at a scale of 4 crores a year in sales, 526 00:31:50,560 --> 00:31:54,440 with an average revenue run rate, you only have a 54% share. 527 00:32:07,560 --> 00:32:09,760 I wish you the best, I hope you prove me wrong. 528 00:32:09,840 --> 00:32:11,200 Our loss. 529 00:32:11,280 --> 00:32:15,320 I would like to echo that the product is phenomenal. 530 00:32:15,800 --> 00:32:17,560 - Yes. - The price point, branding 531 00:32:17,640 --> 00:32:19,240 and POSM is very good. 532 00:32:19,320 --> 00:32:23,160 I think any product where your contribution margin is negative, 533 00:32:23,240 --> 00:32:25,920 I mean, the more you sell the more the loss, 534 00:32:26,000 --> 00:32:27,560 is very dangerous. 535 00:32:28,600 --> 00:32:31,480 So I think your channel, general trade modern trade 536 00:32:31,600 --> 00:32:33,560 - is more profitable. - General trade. 537 00:32:33,640 --> 00:32:36,720 And I think if you take that to 70-80%, 538 00:32:36,800 --> 00:32:39,880 - it can be more scalable. - Yes. 539 00:32:40,400 --> 00:32:44,080 As of now, it won't work for me as a deal. 540 00:32:46,040 --> 00:32:47,200 But best of luck. 541 00:32:48,560 --> 00:32:50,960 Now focus on the remaining two sharks. 542 00:32:51,040 --> 00:32:53,680 What do you think your revenue will be in the next 2 years? 543 00:32:53,760 --> 00:32:56,040 We can do business worth 60 crores annually. 544 00:32:56,120 --> 00:32:58,880 You have not managed till now so how can you be sure? 545 00:32:58,960 --> 00:33:00,560 [suspenseful music] 546 00:33:00,640 --> 00:33:03,760 We didn't have partnerships earlier but we have built them now. 547 00:33:04,200 --> 00:33:05,760 We did a pilot and saw it was 548 00:33:05,840 --> 00:33:07,480 difficult selling a bottle for Rs. 150. 549 00:33:07,560 --> 00:33:10,880 We brought trial pack pouches for Rs. 30. 550 00:33:10,960 --> 00:33:13,240 Those products will move in the general trade market. 551 00:33:13,320 --> 00:33:14,400 And we are seeing the traction. 552 00:33:14,480 --> 00:33:15,520 I understood. 553 00:33:15,600 --> 00:33:17,560 So this round that you raised, 554 00:33:17,640 --> 00:33:18,840 how much did you raise in the last round? 555 00:33:18,920 --> 00:33:21,360 - 23 crores. - 23 crores pre-money. 556 00:33:21,440 --> 00:33:23,640 - Your valuation is very high. - Correct. 557 00:33:25,840 --> 00:33:26,800 I'm interested. 558 00:33:26,800 --> 00:33:29,440 I'm interested too but my problem is valuation. 559 00:33:29,440 --> 00:33:32,000 [dramatic music] 560 00:33:53,440 --> 00:33:55,600 - Can we take Peyush's offer? - Please go ahead. 561 00:33:57,520 --> 00:33:59,240 How much balance do you have in the bank? 562 00:33:59,360 --> 00:34:00,560 Runway of around 2 months. 563 00:34:01,120 --> 00:34:02,280 Whoa. 564 00:34:04,040 --> 00:34:05,520 Just two months? 565 00:34:05,600 --> 00:34:07,200 You had the investor round in February, right? 566 00:34:07,280 --> 00:34:11,360 Sorry, we have money in the bank till December. 567 00:34:14,000 --> 00:34:15,520 No, then what happened to the funds? 568 00:34:15,600 --> 00:34:18,440 - If you got 2.5 crores in February. - Cash flow issue in the business. 569 00:34:18,520 --> 00:34:20,640 You used it all in manufacturing and inventory. 570 00:34:21,360 --> 00:34:23,840 Your receivables must be 30-40 lakhs. 571 00:34:23,920 --> 00:34:25,120 Yes, we have receivables too. 572 00:34:25,200 --> 00:34:27,200 Do you have receivables of 6 months? 573 00:34:27,280 --> 00:34:29,440 We have approximately 65 days of receivables. 574 00:34:29,520 --> 00:34:30,440 Oh, God. 575 00:34:42,360 --> 00:34:44,480 - One crore is stuck in the working capital. - One crore. 576 00:34:44,480 --> 00:34:47,040 One crore working capital and one crore loss. 577 00:34:48,000 --> 00:34:49,560 Look, I was very interested 578 00:34:49,640 --> 00:34:51,760 but now I'm not able to add it up. 579 00:34:51,880 --> 00:34:53,640 You only have the runway till December. 580 00:34:53,720 --> 00:34:57,120 You won't be able to raise funds in this market. 581 00:34:57,240 --> 00:34:58,480 More than 8-9 crores. 582 00:34:59,000 --> 00:35:00,880 Unfortunately, I'll step out. 583 00:35:00,960 --> 00:35:04,320 I was about to make an offer but good I asked this question. 584 00:35:06,960 --> 00:35:10,160 The only reason I'm still interested 585 00:35:10,800 --> 00:35:12,200 is that I am feeling 586 00:35:12,240 --> 00:35:15,080 - that your product is fantastic. - It is. 587 00:35:15,960 --> 00:35:17,640 So I'm betting on the product. 588 00:35:17,800 --> 00:35:21,880 You'll have to work on finance, inventory management, 589 00:35:22,160 --> 00:35:23,880 - distribution... - There is a lot of work. 590 00:35:23,960 --> 00:35:26,560 You all are weak in these areas. 591 00:35:37,320 --> 00:35:39,680 Give us two minutes, we'll just speak to our banker. 592 00:35:39,800 --> 00:35:41,480 You please check. 593 00:35:53,560 --> 00:35:55,720 Let them do a full 30 crore, round, right? 594 00:35:55,800 --> 00:35:57,880 [suspenseful music] 595 00:35:59,640 --> 00:36:03,960 Wow, you all made a complete gang-style entry. 596 00:36:04,880 --> 00:36:06,720 [dramatic music] 597 00:36:07,560 --> 00:36:10,480 Namita, I spoke to somebody who is in our cap table. 598 00:36:11,240 --> 00:36:12,720 Yes, down round has challenges. 599 00:36:12,800 --> 00:36:16,720 But as a founder, I'll take it up with my investors. 600 00:36:17,000 --> 00:36:18,600 Because I know with the support 601 00:36:18,720 --> 00:36:20,560 we get with you coming on board 602 00:36:20,800 --> 00:36:22,720 we can succeed. 603 00:36:22,880 --> 00:36:24,800 - Can I give you a counteroffer? - No. 604 00:36:24,800 --> 00:36:25,720 Not at all? 605 00:36:25,800 --> 00:36:28,360 - That's the only offer you have. - That's the only offer. 606 00:36:39,080 --> 00:36:40,280 Thank you so much, Namita. 607 00:36:40,400 --> 00:36:41,800 Lovely product. 608 00:36:42,960 --> 00:36:44,360 Excited to work together. 609 00:36:44,480 --> 00:36:45,320 All the best. 610 00:36:45,400 --> 00:36:47,000 Thank you very much, Sharks. 611 00:36:47,080 --> 00:36:49,320 Well done. 612 00:36:53,320 --> 00:36:56,400 She's an entrepreneur. She's hard-working. 613 00:36:56,480 --> 00:36:59,000 And very number-focused. 614 00:36:59,080 --> 00:37:03,000 Please put your hands together for Namita Thapar. 615 00:37:07,720 --> 00:37:10,880 My day starts at 6:30 am. 616 00:37:13,160 --> 00:37:17,480 I love old Hindi songs, especially those of Mr. Amitabh Bachchan. 617 00:37:17,560 --> 00:37:19,560 [music playing] 618 00:37:20,320 --> 00:37:22,560 For me, the pursuit of excellence, 619 00:37:22,640 --> 00:37:25,080 giving my 200% is very important. 620 00:37:28,000 --> 00:37:30,720 I juggle a lot of roles my entire day. 621 00:37:32,400 --> 00:37:37,000 So planning is a very important element of my life. 622 00:37:38,000 --> 00:37:39,480 Let's get going. 623 00:37:42,640 --> 00:37:44,960 I have 12-13 meetings 624 00:37:45,080 --> 00:37:48,000 which quickly happen in a day. 625 00:37:48,080 --> 00:37:50,480 - Good. Doc, you approved all this? - Yes. 626 00:37:51,640 --> 00:37:53,160 I just love your packaging. 627 00:37:53,320 --> 00:37:54,800 This is nice, Tanya. 628 00:37:55,400 --> 00:37:57,400 To be successful in business, 629 00:37:57,480 --> 00:38:00,040 customer obsession is very important. 630 00:38:00,160 --> 00:38:02,320 [exhilarating music] 631 00:38:02,400 --> 00:38:04,200 So on different metrics, 632 00:38:04,320 --> 00:38:06,560 we take feedback from doctors. 633 00:38:07,160 --> 00:38:08,920 - Dydrofem is doing well. - Yes. 634 00:38:09,040 --> 00:38:11,280 How are the results? Good? 635 00:38:13,080 --> 00:38:15,960 With this, you can keep improving, 636 00:38:16,080 --> 00:38:18,880 growing and building your brand. 637 00:38:20,880 --> 00:38:24,360 Right from getting it from the doctor's clinic 638 00:38:24,480 --> 00:38:27,000 to our warehouse, the cold chain who's making. 639 00:38:29,000 --> 00:38:33,080 Along with being a Shark, a leader should be a dolphin also. 640 00:38:33,800 --> 00:38:36,400 Hi. Wow. 641 00:38:37,320 --> 00:38:38,560 A dolphin means 642 00:38:38,640 --> 00:38:41,000 empathetic. A shark has aggression and a dolphin has empathy. 643 00:38:41,000 --> 00:38:42,880 I'm getting goosebumps. 644 00:38:45,000 --> 00:38:49,160 For 8 years, I'm running a program called Prerna at Emcure. 645 00:38:49,240 --> 00:38:51,720 Where we bring in speakers for women. 646 00:38:51,800 --> 00:38:53,800 It is a special tailor-made training. 647 00:38:53,880 --> 00:38:56,040 The reality is that working women 648 00:38:56,160 --> 00:39:00,160 trying to manage both work and homes 649 00:39:00,240 --> 00:39:01,840 don't take much care of themselves. 650 00:39:03,320 --> 00:39:05,400 It's our responsibility 651 00:39:05,480 --> 00:39:07,760 to use the power of our voices 652 00:39:07,880 --> 00:39:09,760 for things we are passionate about. 653 00:39:09,880 --> 00:39:12,000 [applause] 654 00:39:15,800 --> 00:39:20,720 I feel that my biggest report card is my kids. 655 00:39:22,320 --> 00:39:25,440 I spend my entire day running around in office 656 00:39:25,560 --> 00:39:29,240 but when I come home and spend time with my kids 657 00:39:29,320 --> 00:39:32,320 is the happiest time of my day. 658 00:39:34,400 --> 00:39:37,480 All my stress disappears in an instant. 659 00:39:38,960 --> 00:39:41,120 [ethereal music] 660 00:39:43,640 --> 00:39:45,800 [inspirational music] 661 00:39:57,680 --> 00:40:00,800 My friend, please give me a tip where my profit is fixed. 662 00:40:01,000 --> 00:40:03,280 Only risk-takers can make a profit! 663 00:40:04,600 --> 00:40:06,200 - Let me recite. - Go on! 664 00:40:07,080 --> 00:40:08,920 I'm the stock market's king. 665 00:40:09,080 --> 00:40:12,120 I'm the stock market's king. Hi, Vineeta Singh! 666 00:40:12,400 --> 00:40:14,080 [laughing] 667 00:40:15,600 --> 00:40:17,280 Namita is a pharma queen. 668 00:40:17,400 --> 00:40:19,680 - Let me turn your portfolio green! - Bravo! 669 00:40:19,760 --> 00:40:21,040 [laughing] 670 00:40:21,320 --> 00:40:23,200 Don't take the trouble. 671 00:40:23,360 --> 00:40:24,880 Within 25 days your money will double. 672 00:40:24,960 --> 00:40:27,280 I'll have plenty of money. 673 00:40:27,480 --> 00:40:31,360 Gosh! All the tips are dead because my stocks are red! 674 00:40:31,440 --> 00:40:33,360 [laughing] 675 00:40:34,360 --> 00:40:36,720 Greetings, Sharks! My name is Dharmil. 676 00:40:38,960 --> 00:40:40,720 - We are from Ahmedabad. - Yes, sir! 677 00:40:40,800 --> 00:40:42,920 Sharks, the scene we just enacted 678 00:40:43,000 --> 00:40:44,320 isn't an imaginary scene. 679 00:40:44,480 --> 00:40:47,280 In fact, it's the norm for every stock trader. 680 00:40:48,200 --> 00:40:51,440 Sharks, the stock market makes our concepts complex. 681 00:40:51,600 --> 00:40:53,160 If you invest in the market 682 00:40:53,160 --> 00:40:55,880 without learning the tricks, you could incur a loss. 683 00:40:56,920 --> 00:41:00,080 So we thought of simplifying this complex problem. 684 00:41:00,160 --> 00:41:02,040 Then what is better than a fun game? 685 00:41:02,160 --> 00:41:04,320 We present to you BULLSPREE! 686 00:41:05,640 --> 00:41:07,520 BULLSPREE is a gaming application 687 00:41:38,240 --> 00:41:40,040 Sharks, the best thing about it 688 00:41:47,000 --> 00:41:50,160 we welcomed two lakh new users on board. 689 00:41:55,240 --> 00:41:58,520 the tiny village of Jhumri Telaiya to the big cities of India. 690 00:41:58,680 --> 00:42:00,480 Will you give us Rs. 75 lakhs 691 00:42:00,560 --> 00:42:02,720 for 1.5% equity of our company 692 00:42:02,800 --> 00:42:05,400 to help us achieve our dream? 693 00:42:14,680 --> 00:42:15,880 into fun. 694 00:42:17,000 --> 00:42:19,320 So, Dharmil, Harsh and Divyansh, 695 00:42:19,400 --> 00:42:21,440 your presentation was overpowering. 696 00:42:24,640 --> 00:42:26,560 Ha! [laughing] 697 00:42:28,400 --> 00:42:30,760 Actually, the mascot is signalling that he can do it. 698 00:42:30,840 --> 00:42:32,480 We can do it! 699 00:42:32,640 --> 00:42:34,160 Please tell us your story. 700 00:42:34,240 --> 00:42:36,600 I completed my industrial engineering in 2016. 701 00:42:36,680 --> 00:42:38,840 Then I joined an e-commerce company. 702 00:42:38,960 --> 00:42:41,400 Within 1.5 years, I was promoted to the CEO's office. 703 00:42:41,480 --> 00:42:43,800 My projects had calibrated nicely. 704 00:42:44,200 --> 00:42:46,680 In fact, I was happy to start the first round 705 00:42:46,760 --> 00:42:49,520 as the CEO invested a small amount. 706 00:42:49,600 --> 00:42:51,080 - Wow! - Awesome! 707 00:42:51,240 --> 00:42:55,360 Harsh and I met for the first time as flatmates in Mumbai in 2016. 708 00:42:56,480 --> 00:42:58,760 My meeting with Divyansh is unique. 709 00:42:58,960 --> 00:43:00,920 We met during a train journey. 710 00:43:16,320 --> 00:43:19,360 Jhumri Telaiya is a small town in Jharkhand. 711 00:43:19,440 --> 00:43:20,640 Wow! 712 00:43:20,920 --> 00:43:23,400 I completed my engineering from IIT Delhi. 713 00:43:23,480 --> 00:43:25,440 Then I worked in two startups. 714 00:43:25,520 --> 00:43:29,040 - I used to lead a team of 20-25 people. - Excellent! 715 00:43:29,120 --> 00:43:30,600 That is my experience. 716 00:43:30,680 --> 00:43:32,240 Do you supervise the development part? 717 00:43:32,320 --> 00:43:33,320 That's true. I do it. 718 00:43:33,480 --> 00:43:34,680 What is the tech stack? 719 00:43:34,760 --> 00:43:37,040 We made an app on Flutter as the front end. 720 00:43:37,120 --> 00:43:38,920 And we have used Node. js for the back end. 721 00:43:39,000 --> 00:43:41,280 But Flutter can't scale up 722 00:43:41,360 --> 00:43:43,040 if the app gets more complex. 723 00:43:43,120 --> 00:43:46,520 We observed that people prefer Flutter in the new applications. 724 00:43:46,600 --> 00:43:47,920 So we made such a decision. 725 00:43:48,000 --> 00:43:50,120 Sharks, I'm a chartered accountant. 726 00:43:50,200 --> 00:43:54,360 I used to audit private equity and hedge funds from 2015 to 2018. 727 00:43:54,800 --> 00:43:57,480 Back then Dharmil and I used to discuss 728 00:43:57,640 --> 00:43:59,560 if we could do something 729 00:43:59,680 --> 00:44:02,040 that combined the stock market and gaming. 730 00:44:03,600 --> 00:44:07,080 So you're Dream11 for financial stocks. Right? 731 00:44:07,920 --> 00:44:09,160 It's fantasy trading. 732 00:44:09,240 --> 00:44:10,600 Not really, Sharks. 733 00:44:10,680 --> 00:44:13,240 Basically, Sharks, we're an experiential learning platform. 734 00:44:13,320 --> 00:44:15,960 It helps one become well-versed and build confidence. 735 00:44:16,640 --> 00:44:19,920 Is your game only about equity or it has futures and options trading too? 736 00:44:20,120 --> 00:44:22,160 I can explain the gaming journey. 737 00:44:22,280 --> 00:44:23,800 Please give us a product demo. 738 00:44:23,920 --> 00:44:25,000 - Sure! - Alright! 739 00:44:34,320 --> 00:44:36,120 with different entry fees. 740 00:45:06,880 --> 00:45:08,280 Sharks, it's simple. 741 00:45:08,360 --> 00:45:11,760 We want to give you the adrenaline rush of the real stock market. 742 00:45:12,680 --> 00:45:14,960 - Good idea! Are other people also doing it? - Yes! 743 00:45:15,080 --> 00:45:17,120 [tense music] 744 00:45:17,520 --> 00:45:20,280 Dharmil, there are many such companies like StockGro. 745 00:45:20,360 --> 00:45:21,960 There are innumerable companies like yours. 746 00:45:22,040 --> 00:45:22,960 Right, sir! 747 00:45:23,040 --> 00:45:25,880 But the difference is that the positioning of StockGro 748 00:45:25,960 --> 00:45:27,400 is more of social investing. 749 00:45:27,480 --> 00:45:30,800 The adrenalin rush is missing because only virtual money is used. 750 00:45:30,920 --> 00:45:32,960 But we are positioning it well. 751 00:45:33,080 --> 00:45:35,520 That's because you are charging money for an entry. 752 00:45:39,680 --> 00:45:40,480 - Yes! - Yes! 753 00:45:40,560 --> 00:45:42,240 How much money did they raise? 754 00:45:43,120 --> 00:45:45,880 They raised around 32 million dollars recently. 755 00:45:47,520 --> 00:45:48,960 How will you compete with them? 756 00:46:03,600 --> 00:46:07,360 Our monthly revenue in February 2022 was only Rs. 1 lakh. 757 00:46:07,440 --> 00:46:09,880 But let me share the last month's revenue. 758 00:46:09,960 --> 00:46:11,040 Please tell us quickly. 759 00:46:20,960 --> 00:46:23,360 we're growing at a 100% rate. 760 00:46:23,440 --> 00:46:24,480 What trick did you use? 761 00:46:24,560 --> 00:46:26,720 We had tie-ups with a number of colleges 762 00:46:26,800 --> 00:46:29,280 through events and campus ambassador programmes. 763 00:46:29,400 --> 00:46:31,880 We made collaborations with the influencers of financial markets 764 00:46:31,960 --> 00:46:33,520 and gaming. 765 00:46:33,600 --> 00:46:35,200 What is your marketing cost? 766 00:46:49,360 --> 00:46:52,400 78% of people are using our app as per D60 retention. 767 00:46:52,480 --> 00:46:54,560 - D60 retention is 78%? - D60! 768 00:46:54,640 --> 00:46:59,880 D60 is calculated on the 60th day. 769 00:47:00,000 --> 00:47:01,560 - This is what you mean? - The sixtieth day. 770 00:47:01,640 --> 00:47:05,120 - It isn't rolling retention, right? - On the 60th day. - Yes! 771 00:47:05,200 --> 00:47:07,760 That's incredible. It isn't possible. 772 00:47:08,800 --> 00:47:12,560 But people can use different apps to play as per your concept. 773 00:47:13,800 --> 00:47:17,840 The major focus of our competitors is on games. 774 00:47:18,800 --> 00:47:22,480 Our larger vision for a customer of Bullspree 775 00:47:22,560 --> 00:47:24,320 is to make them knowledgeable 776 00:47:24,480 --> 00:47:26,560 and graduate 777 00:47:26,920 --> 00:47:28,640 within two years. 778 00:47:28,720 --> 00:47:31,680 Let's be clear. I don't think you're building 779 00:47:31,680 --> 00:47:34,240 Bullspree University or a Stock Market University. 780 00:47:42,960 --> 00:47:46,520 If Dream11 decide to teach cricket to everyone, 781 00:47:46,960 --> 00:47:48,480 it's the wrong direction. 782 00:47:49,520 --> 00:47:51,440 Please tell me quickly. 783 00:47:51,560 --> 00:47:53,040 How are you different from StockGro? 784 00:47:53,120 --> 00:47:54,560 There's no difference. 785 00:47:56,160 --> 00:47:59,760 Currently, StockGro provides chats 786 00:47:59,840 --> 00:48:01,600 and makes you play virtual portfolios. 787 00:48:01,680 --> 00:48:04,760 It can easily be copied. Both of you will copy each other. 788 00:48:04,840 --> 00:48:06,840 [suspenseful music] 789 00:48:07,280 --> 00:48:09,920 Ma'am, the market is big 790 00:48:10,000 --> 00:48:12,600 and we can parallelly exist with StockGro. 791 00:48:14,120 --> 00:48:16,320 What is StockGro's revenue per month? 792 00:48:16,480 --> 00:48:17,920 We don't know. 793 00:48:32,480 --> 00:48:36,080 Investors become confident when the founders 794 00:48:36,680 --> 00:48:39,240 have the numbers at their fingertips. 795 00:48:40,520 --> 00:48:43,240 My second point, if you want to scale up, 796 00:48:43,320 --> 00:48:46,800 you must possess a unique differentiator. 797 00:48:46,880 --> 00:48:49,560 I can't see that and for that reason, I'm out. 798 00:48:51,840 --> 00:48:55,880 Firstly, I feel that your differentiation is your solid team. 799 00:48:56,880 --> 00:48:59,480 You three are hungry entrepreneurs. 800 00:48:59,680 --> 00:49:03,960 I find investing in winner-takes-all markets 801 00:49:04,080 --> 00:49:06,760 like gaming a bit scary 802 00:49:06,840 --> 00:49:10,320 because the first one or two big companies 803 00:49:10,520 --> 00:49:14,160 eat the small companies like sharks 804 00:49:14,320 --> 00:49:16,800 in CAC which is Customer Acquisition War. 805 00:49:16,960 --> 00:49:19,760 That's why I wouldn't want to invest in it. 806 00:49:21,760 --> 00:49:24,280 Generally, I assess three things. 807 00:49:24,800 --> 00:49:26,320 Team, timing and TAM. 808 00:49:27,880 --> 00:49:30,640 Your TAM is very good and the team is also nice. 809 00:49:30,960 --> 00:49:32,480 But your timing is wrong. 810 00:49:59,920 --> 00:50:01,360 Our application is the best even now. 811 00:50:01,440 --> 00:50:03,960 The competition is good. And a funded player 812 00:50:04,040 --> 00:50:06,240 - is better because they help in growing the market. - Right! 813 00:50:06,320 --> 00:50:08,640 You three are talented and I'm confident about you. 814 00:50:11,040 --> 00:50:12,200 I'll invest in you 815 00:50:12,280 --> 00:50:14,960 and I'll offer you the same deal that you got the last time. 816 00:50:16,160 --> 00:50:19,760 Rs. 26 lakhs for 1% equity which is equal to your old valuation. 817 00:50:29,520 --> 00:50:31,920 Peyush, can you join him? 818 00:50:32,000 --> 00:50:33,520 But I have a few questions. 819 00:50:35,520 --> 00:50:37,160 How much money do you have right now? 820 00:50:37,240 --> 00:50:39,800 Right now we have a runway of five months. 821 00:50:44,840 --> 00:50:48,240 In the next 36 months, if I get 2 crore users, 822 00:50:48,480 --> 00:50:51,320 I'll earn Rs. 1 crore revenue daily 823 00:50:51,400 --> 00:50:53,160 which could give Rs. 200 crores yearly revenue. 824 00:50:53,240 --> 00:50:55,000 My friend, I think 825 00:50:55,120 --> 00:50:57,080 it's no use giving a debt. 826 00:50:58,640 --> 00:51:00,680 Let's come back to your last valuation. 827 00:51:02,400 --> 00:51:04,560 Both of us will divide it 50:50. 828 00:51:04,760 --> 00:51:06,520 37.5 lakhs each! 829 00:51:06,800 --> 00:51:07,760 Yes! 830 00:51:08,440 --> 00:51:11,480 So Aman and Peyush's final offer 831 00:51:23,560 --> 00:51:27,160 My dear, seeing the risk, you should not rethink. What are you up to? 832 00:51:28,200 --> 00:51:31,760 A mere 2.5% is the dilution. Why are you hesitant? 833 00:51:31,880 --> 00:51:33,880 [dramatic music] 834 00:51:36,240 --> 00:51:38,600 Sharks, let's disrupt together! The deal is done! 835 00:51:45,480 --> 00:51:46,880 Sure! 836 00:51:47,560 --> 00:51:48,880 Woo-hoo! 837 00:51:51,120 --> 00:51:52,720 Superb! Congratulations! 838 00:51:52,800 --> 00:51:54,720 [triumphant music] 839 00:51:57,480 --> 00:51:59,720 'Aman, in today's Shark Xperience segment, ' 840 00:51:59,920 --> 00:52:01,880 'Kunal from Mumbai has a question for you.' 841 00:52:02,240 --> 00:52:04,600 'Your style is cool and inspired by films.' 842 00:52:04,680 --> 00:52:07,520 'Are you inspired by a film in real life?' 843 00:52:07,840 --> 00:52:09,680 Hi, Kunal! Nice question. Yes!