[music playing]
Since childhood, we have encountered many problems
but instead of ignoring them
we try to find a solution.
[music playing]
We throw away worn-out things.
But he brings it, opens it,
and repairs it.
[music playing]
We faced that problem too.
We felt that this problem must be resolved.
[music playing]
We are presenting the solution on Shark Tank India Season 2.
[music playing]
- Greetings, sharks! - Greetings.
Before the pitch begins, let's have a cup of tea.
- Wow. - Amazing.
- We need it. - It will be great.
If you serve us good tea, it might work in your favour.
- Dhaval. - Yes, sir.
Welcome to Shark Tank.
Do you know him?
It's an interesting story. I will share it soon.
Wow!
You're health conscious so
I'm serving you tea with less sugar.
Oh, wow! Thank you so much.
[music playing]
The tea is great.
Yes, it's amazing.
- Thank you for the tea. - Thank you.
Big businesses are planned over tea.
- So, we decided to try it here. - Great!
What do we need in the morning? A cup of tea.
During office breaks,
what do we need? A cup of tea.
What does Salman Khan need?
One hot cup of tea.
[laughs]
We, Indians, love tea so much
that there's a tea stall at every corner.
When we drink tea there, it's served in paper cups
or a glass.
The paper cup
costs us and our environment a lot.
When it's served in a glass,
have you ever seen how it's washed?
Yes, I have.
To solve this problem, we have created
tea glass washing machine.
It can hygienically wash 12 to 15 glasses
can be used to develop more products for the washing industry.
Sharks, our vision is
to install this machine at every tea stall in India.
Everybody must be served a hygienic cup of tea.
We are Team Mahantam from Banaskantha, Gujarat.
- We need 30 lakhs for 10% equity. - Woah!
I will drink tea in a cup washed by Mahantam washer.
- Woah! - Wow!
Wow! It was great, Dhaval and Jayesh!
Welcome to Shark Tank.
I feel I'm more nervous than you.
When I got my first funding round,
that people have to work hard to make it to Shark Tank.
We receive more than lakh applications.
We receive a lot of applications. I thought about my journey.
All of us got a chance
and after that
I have invested in 200 companies and I'm sitting here.
But, there are so many people with ideas
but there are so many hurdles.
If you can't make a business plan, how will you reach a VC?
How will you raise money and come to Shark Tank?
So, I floated something...
Oh, yes, I remember.
You have to make a one-minute reel
and tell us what you want to do and why.
Our team will pick a few, give them a grant
- for no equity. - Wow.
So, Dhaval and Jayesh
- had received a grant through us. - Oh, lovely.
You have fulfilled my dream by making it here.
- Good job! - Well done!
First of all, I wish to say
that this machine here is our latest version.
We have built this machine with your grant.
- Wow! - That's why we could make it.
Otherwise, we would've presented the older version.
- Oh, my God! - Very nice.
Thank you.
Dhaval and Jayesh, tell us a bit more about your story.
Sir, I always wanted to have a business.
So, when we were at home during the lockdown,
he used to work on the machine
and I was looking for business ideas
to move ahead.
That's when he fully developed the machine.
Then we, as brothers...
- Are you brothers? - Yes.
And you've studied in the same school.
Yes, we studied in the same school
till I was in 11th and he was in 9th.
- Okay. - Then I went to Dhanera.
And he went to Palanpur to pursue his diploma.
Okay.
In the beginning, I went and met all the professors.
One of them guided me to another professor.
So, that's how I met Mr Brijesh Patel.
He's my mentor now.
While pursuing my diploma,
I would drink tea at a stall outside the college, regularly.
All of us used to drink tea at the stall outside the college.
We still do.
I used to notice the tub of water with glasses every day.
They would just rinse it and serve.
Yeah.
But, we used to find it normal.
I got accustomed drinking it every day.
[chuckles]
But, one day, I noticed
that the goat raised by that uncle
came and put its mouth into the water.
The goat drank water from the bucket that had the glasses.
Oh!
No.
I've solved this problem for you.
Thank you.
So cute.
I told the uncle that the goat is drinking the water.
And he was indifferent.
This can be ignored.
He spoke in his language.
Ignorance is bliss, something like that.
Firstly, I stopped drinking tea there.
Then, while I was at home during Covid-19,
my dad had gifted me a laptop before that
and I took it,
searched on YouTube: How to make a design.
It took me six months to learn design.
As soon as the lockdown got lifted,
I went to Dhanera with my dad
at the hardware shop that was repairing our bed.
I asked my dad to speak to them for me.
I spoke to them
and told them that I want to work there.
I will help you,
work for you and I don't want to be paid.
Gradually, I put my word.
I asked if I could make things with the scraps lying around.
They said yes.
[music playing]
I had two hours of break.
I used that time to do my work.
[music playing]
And soon, I made a machine
which was a total failure.
This is the machine.
It took me six months to make this failed model.
I made the second machine and it failed too.
But, my mechanism was set.
I made the third machine and it failed too.
Even the fourth one failed.
One day, while making the machine, the uncle walked to me
and told me that I'm wasting my time
and the worker's too. He asked me to let it be.
So, I went to meet my teacher in Palanpur.
I told him that I want to make a machine and I don't have money.
He told me not to worry and gave me 10,000 rupees.
Wow!
So, I started making it again.
It took me a month.
The water flow, mechanism, everything was set.
The prototype was ready but it wasn't ready for the market.
I have a friend who is a YouTuber.
He offered to make a video of me.
They shot a video of me and uploaded it on YouTube.
[music playing]
- Awesome! - Wow, man!
There's an engineer in Surat, Chai Makers By Engineers.
He was a mechanical engineer
and he called me after watching this video.
He wanted to purchase this machine.
- He was a tea maker. - Yes.
Now, I started feeling successful.
I spoke to my mentor
and he asked me to give the machine
but not charge them.
Because it's my first machine. I agreed.
Somewhere, money was the constraint.
So, I went to college and met my professor.
I went to another college too.
I presented over there.
and we have sold three machines already.
One in Karnataka.
I sold the first machine for 20,000.
I sold the second and third machine for 28,000.
Woah!
- Social media is powerful in India. - Amazing!
If 5-6 entrepreneurs make innovation in a village,
and upload it on YouTube.
They are receiving orders and people are showing interest.
India is learning the value of business.
What do your parents do?
My dad runs a studio.
He does photography and he's a LIC agent too.
He also works as a barber from home.
What does your dad have to say
about your journey and your success so far?
My dad always tells us that he trusts us.
He motivates us to do what we want.
You're fortunate.
You sold the first machine for 20,000.
Were the other two same or did you make changes?
Yes, we did make changes.
The first machine could only do internal washing.
But the customer told us that it's not enough.
While filling cups,
if it spills on the outside,
then we will have to dip it in the water again.
So, we installed internal and external washing.
So, this is the latest design.
So, this is your ready for market version.
Yes.
Shall we do a demo with these tea glasses?
- Let's go. - We will wash it.
Come on.
What do we have to do? Where do I keep it?
- Is there tea in it? - There's a bit left.
No worries.
- The glasses won't break, right? - No, they won't.
Give this to me.
How many can you load at once?
We can load 15 cups at a time.
The washing process.
[whirring]
As soon as the glasses pop out after washing,
the next batch of cups will get loaded automatically.
Now, press it, sir.
I have to hold it here, right?
Hold it a bit when it starts. Now, hold it.
Now, pull it.
Pull it.
Okay, release it now.
Two batches are done.
- They will keep stacking. - Yes.
- 5, 5, 5, so that makes it 15. - Yes.
[music playing]
Do tea shops
have an electrical outlet?
This needs electricity to function.
Those selling on railway platforms might not have electricity access.
It's a good point.
Sir, let's understand the target market first.
So, our target is
time and hygiene management.
Also to show-off to a certain extent.
[laughs]
- I love it. - That's the target market.
Those who have a setup,
a place to heat tea
then they surely have electricity connection.
It requires a 12-voltage battery.
They keep it to light a bulb. This can function on that.
But it will consume the battery quickly.
It consumes electricity worth 9 rupees for washing 10,000 glasses.
What's the cost of the battery?
The battery cost ranges between 1200 and 4000.
There are variations.
But does it help save money?
At a normal tea stall,
if paper cups are being used,
around 800-1000 paper cups are used every day.
So, it amounts to 6000 rupees for 30 days.
- Rs. 6,000. You mean one glass costs 10 paise. - Yes.
- Alright. - If he employs labour,
he will have to pay Rs. 200 to the labour per day.
So they use disposable cups.
If we consider those expenses, our machine's cost
will be recovered within 6 months.
Dhaval and Jayesh, tell me something.
There must be limited shops selling tea
- because tea is sold on roadside stalls normally. - Yes.
We already have requirements stating,
"My stall is small
so please reduce the size of the machine."
This machine has three columns.
It can be lengthened or reduced in size.
Its size can be reduced.
They may connect it to the normal water supply they use
for their daily requirements of water.
How much water is used in one day?
This container's capacity is 38 litres.
[suspenseful music]
- Are you calculating? - Yes.
Until you calculate, please tell me something.
Does it contain soap too?
Ma'am, let me give one answer
- and then I'll answer another one. - Alright.
How can he do two things simultaneously?
- I was asking Jayesh. - He's adorable!
Okay, sir. Let me tell you the monthly cost.
He snaps and answers like a computer.
If it washes 1,000 glasses a day,
the cost of electricity will be one rupee.
- Let's try to understand the market. - What about my question?
- I'm sorry! - From where is the soap added to the machine?
This machine doesn't use soap.
It uses water pressure to wash the glasses.
But the tea vendors use soap to wash the glasses.
There is a tub containing soap water and then they dip it in clean water.
Only a few vendors do that.
- Otherwise, they don't use soap. - My God!
If they need a machine that dispenses soap,
it can easily be done as it doesn't have a big mechanism.
As we've given a water connection, we may give a connection for soap.
Does your machine cost Rs. 28,000 currently?
- Yes. It costs Rs. 28,000. - What will be your margin?
We manufactured it for Rs. 19,000.
We get a 32% margin.
We aim to sell 50 machines this year.
- You'll sell 50 machines costing Rs. 30,000. - Yes!
- What will be the total revenue? - Rs. 15 lakhs.
You asked for Rs. 30 lakhs for 10% equity.
How will you use this money? And how will the investor earn?
Firstly, we don't have a manufacturing plant.
We don't even have the basic tool.
We want to buy the machinery and tools first.
- We want to arrange for basic tools. - Alright!
Then we'll register our company.
We also need money for R&D.
We want to try making another version too.
How will you return the investor's money?
We'll use some amount of the money to make 50 machines.
It's not that we'll use Rs. 30 lakhs to manufacture 50 machines.
We will have SKUs
of internal washing machines and external washing machines,
and the third category is glass washers to be used at weddings.
We'll manufacture machines for the glasses and bowls
used to serve food at parties.
We planned to enter the market of tea stalls
but now we realise
that the market is much bigger than we thought.
So ultimately, it's not yet decided
how your company will grow in future.
Right now you have a plan of building 50 machines.
You took baby steps to reach this stage.
"We want to take things as they come."
- Your dream is to become a big company. - We want to be big.
- Is that the thing? - Yes.
- Jayesh and Dhaval, yours is an early-stage company. - Okay, sir.
- You must not be having answers to many questions. - Correct!
We are yet to see
your journey ahead but I'm impressed with your innocence and diligence.
I'll give you an offer.
I'll give you Rs. 30 lakhs
doing together.
Please ask others if they want to join.
I'll also come.
Anupam, please lead on our behalf. The five of us are in.
- Are all of you guys in? Alright! - Yes!
Five-Shark deal!
Our final offer is that all five Sharks will give you Rs. 30 lakhs
for 20% equity.
Let me tell you something.
People are inspired after watching Shark Tank India. In the same way,
your story will ease their business journey.
Every village child would aspire to invent and build a booming business.
Anupam's efforts have helped you grow your business to this level
and the efforts of all the Sharks will grow it by leaps and bounds.
Yes, I agree.
Please think about it.
[suspenseful music]
Thank you so much to all the Sharks
for offering us a deal. And...
We want all five Sharks and the deal is closed!
- Hurrah! - Well done, guys.
Big brother!
- Alright! - Thank you so much!
Great job!
- Good one. - Well done! Superb!
[dramatic music]
Sharks, we'll start our introduction with a game.
- Alright! - Okay?
You are provided with placards of 'yes' and 'no'.
- Yes! - I'll ask some questions.
The condition is that you must reply honestly
by holding a placard of 'yes' or 'no'.
My first question is,
do you have a problem falling asleep?
Daily!
Have you ever been
afraid of failure in life?
[suspenseful music]
Have you ever felt a heaviness in your chest because of anxiety,
burnout or stress?
[sweeping music]
Do you regularly go for health checkups and blood tests annually?
And the last question.
Have you ever undergone a mental strength test?
[dramatic music]
You got it done!
Sharks, I think all of us know
that our country is the most depressed country
in the entire world currently.
So we launched MindPeers.
Greetings!
MindPeers is an AI-powered platform
that checks your mental strength
and improves it proactively.
We have a proprietary algorithm
that checks important aspects
of your life.
Like your career, financial status
and your relationships.
It measures all these things and tells us how these aspects
are impacting our brains.
Then it gives a real-time score.
We have built in-house neuroscience games.
MindPeers has 3.5 lakh users.
It is being used in India
Our ask is
I hope all of you will say yes.
Yes! [chuckling]
Please brief us before giving the details of your product.
Did you have a personal experience that compelled you
to start this business?
I lived in Singapore for 13 years.
I completed my graduation in 2013.
I worked in reputed companies
like Google and Microsoft just like other engineers.
I did consumer branding for the Asia-Pacific market
and how to run campaigns.
- I handled these two things in both Google and Microsoft. - Go on.
I worked with them till early 2017.
Back then the Southeast Asian industry
was at the cusp of digital marketing.
So I decided to start a services agency.
I started a company in 2017
called Passion Peers.
I was the solo founder.
I bootstrapped it.
Companies like Estee Lauder, Marks & Spencer and Unilever.
We pitched to these companies
and we won them too.
Within two years, the revenue of my first company
- Wow! - Wow!
- But...
Very few people ask this question.
I suffered from anxiety in 2017
because I couldn't say no.
And the biggest factor
was that I was afraid of failure.
I couldn't stand failure.
It snowballed into panic attacks.
I visited therapists
and I started studying the science behind it.
Around the end of 2019,
I got an opportunity from an agency
that wanted to acqui-hire the employees of my company.
I was no longer responsible for that company.
Did you get an exit?
1.1 million USD is around Rs. 8 crores.
I was 27 years old.
- Wow! Amazing! - Amazing! Well done!
When I was 27 years old, I didn't have Rs. 20,000.
She built one venture at the age of 27 years,
took an exit and started another venture. Incredible!
What did you do after that?
I was inclined towards this field and researched a lot.
I started at a basic level.
I appointed some therapists on my platform
and provided therapy. I started it like a marketplace.
I pitched it to an investor in August and he said,
"it's a great idea." MindPeers started from there.
Who was the angel investor?
The first one was Sanjay Mehta from 100X.VC.
First? So did you have a round recently?
No, we had a round after that.
When was that?
After Sanjay's round,
we raised 1.12 crores.
What was the valuation?
- During this time... - That explains the number.
That explains the number.
So, Sahil, do you play a role?
- [laughs] - I was just about to step in.
So, I graduated with a B.Tech degree in 2013, unlike her.
My career has been around startups.
I worked for two years on different products.
Music, games, etc.
But, whenever I would delve deeper into a product,
the project would come to an end.
So, that was my first nudge
to want to work on a product
and make it grow.
I joined Classplus after that as a founding team member.
I have built a team of 17 people
and built the architecture and infrastructure
- of Classplus from scratch. - Wow.
Okay, then?
After that, MindPeers.
Then, Kanika hired you.
No, I was planning to make a product
related to employee wellness management.
That's when I met Sanjay.
I pitched my idea to Sanjay.
He introduced us.
He asked us to connect
as mental health was a common ground.
Oh.
In July 2021, he joined us
officially, as the co-founder of MindPeers.
Equity split?
- yours is an arranged partnership. - Yes.
Generally, it's not very successful.
But you've been working for 2-3 years. So, congratulations!
- I feel the same. - Very hard to find a
- co-founder. - Oh, you too?
Yeah, Sameer and I didn't know each other.
- That's great when it happens. - Oh!
It's been six years now.
- Wonderful. - Wow!
Ready for a demo?
Sure.
Firstly, we will show you our app.
As soon as you log in,
we ask 14 questions to the user.
These 14 questions
are related to various aspects of your life.
The idea is not to tell someone
there are recommended tools and games at the bottom.
There are personalized suggestions that you must follow.
So that your score improves.
Now, the game starts.
You will have to collect as many raindrops as possible.
And the plant keeps growing.
In the end, you are told that worries
when collected
they grow in life.
Okay, got it. You use the game
as the second level of evaluation, okay?
Along with that, we want to show you one thing.
MindPeers Club, our top-used feature.
Community.
- It's a support group. - Community.
It's a support group but you can vent out anonymously.
And we have real-time psychologists replying to you.
Very nice.
How many psychologists do you have on the payroll?
Six.
- But this service is free, right? - No.
- Is this paid? - Yes, it's paid.
- Okay. - What are the charges?
You pay 350 rupees per month
In the end, as a consumer,
what will I achieve with this?
Why will I pay you 350 rupees
which is a price that big OTT platforms can't charge in India.
Peyush, we're clear about our target audience.
We are after millennials and Gen-Z.
These people own a Fitbit,
Apple watch, air pods,
So where are these people?
- You have 3,500 subscriptions. Right? - Yes!
How many people have you tried selling to?
- What is your MAU? - It's 30,000 per month.
I don't understand. In the beginning, you said
- that you have 3.5 lakh users. - Users!
Now you are saying that there are 30,000 users
of which 3,500 are paid users.
I don't understand which figure is the right one.
3.5 lakh is the total count which is the top of the funnel.
- They opened the app and used it. - Cumulative! Till date.
- To date? - To date!
It has no relevance as of now.
- Right now your active subscriptions are 3,500. - Yes.
So your conversion is 1%.
- It means nobody is paying Rs. 350 per month. - Yes.
Anupam, that's because we are exploring the B2B market
and 30,000 active users
also include the company's employees.
Is your primary model B2B,
B2C or mixed? What is it?
- Primary model is B2B. - Okay.
Please tell us your revenue
and the split between subscriptions and the corporate.
Our revenue for October was Rs. 16.5 lakhs.
Rs. 10 lakhs out of it is from the B2C market.
We earned Rs. 6.5 lakhs in the B2B market.
We launched ourselves in the B2B market
just two months ago.
- I see. - Oh!
Tell me something. What is your B2B model?
What is it? Suppose I'm a corporate.
Assuming that you are selling it to me, what are you selling me?
It shows what HR is using and paying for.
I'm showing you the data of our client
who is using our app in his factories in Surat.
They have reduced.
The incidents were reduced in manufacturing factories by 70%.
Got it. You said that you raised funding.
Where did you raise it from? And how much is it?
Goodwater Capital and the Venture Catalysts invested some money.
There are too many investors.
Then why should we invest?
Our ask is specific
to each one of you. Let me start.
Aman, if our brand doesn't become a household brand,
it would fail.
You know how you handled boAt
so we want you to help us.
I hope you don't get tired until our turn comes.
Namita, pharma is important for us
in light of the data insights we are getting.
Anupam...
Leave him. You may skip him. [laughing]
She had to think hard before speaking to Anupam.
Out of 3.5 lakh users of MindPeers,
60% reported issues due to loneliness
and problems in their relationships.
- It's one of the biggest triggers. - It is!
You know the business of relationships.
We want to learn it from you.
Vineeta, to put it simply, we want
to connect our app to the fitness app to tell people
what their mental health stats are.
Peyush, we have a simple demand.
How to scale up in various countries quickly.
It's proven that you were the marketing head.
[laughing]
I'll give you an offer.
Whatever you ask. Rs. 53 lakhs for 1% equity.
- They do something similar. - Yes.
I was one of their first customers and an investor.
I think I can help you a lot in this business.
Kanika, you have an unbeatable combination.
I... I want to say something more. Hold on!
I'm an acting chief people officer
at Lenskart. I head HR
at Lenskart for 10,000 people.
I'm using all the global tools of HR.
Not just HRMS. I'm using every global tool.
- Right? It's your call. - His pitch is over now.
Kanika, let me tell you
the reason Vineeta and I are an unbeatable combination.
I have expertise in healthcare
and Vineeta knows the brand building.
You said that it should reach every household.
Most importantly,
you need us because your business model is B2B.
We understand that post-Covid,
it's required in the B2B world urgently.
We can provide you with a network in your alliances
of insurance, fitness and pharma.
I think we are a better combination for you.
- May I ask you a question? - Sure.
Why don't you give nudges
We're working on it and will surely provide nudges in the future.
- Okay, Kanika. - Are you doing this?
- Don't waste your time. - We're doing POC on this.
- Give us... - Let me answer it for you.
Yes?
I will join the winning team.
Namita and Vineeta's team.
Your offer is done. Let me tell you
that first of all, guys, thanks for taking up this issue.
It's very close to my heart.
I have gone through it.
So, I'm happy to meet you and learn that you've worked on this issue.
But in terms of the industry and the product,
I believe that your app is slightly confusing.
Right now, unfortunately, the usage
is somewhere between 1-3% within companies.
[music playing]
Generally, employees won't use it unless it's a worst-case scenario.
You have to think about this.
I like what you're doing but it's a no from me.
Anupam is out. You still have two offers.
Peyush, would you like to join us?
Yes, I'll join you.
so take 53 lakhs at 1% from them
and I will give you additional 53 lakhs for 1%.
We would love to have the four of you.
We will accept 53 lakhs for 1% with the three of you.
And 53 lakhs for 1% with Peyush.
[music playing]
- I'm okay. - It's a deal.
[music playing]
- Thank you, everyone. - Well done!
[ethereal music]
[inspirational music]
I know that all of you do great things
and work day in and day out to fulfil your dreams.
The hustle and a 24/7 life give you a high
but I want to introduce all of you to my world.
My world is stark opposite to your world.
My world isn't fast like yours.
You'll experience tranquillity.
You'll find peace here.
Though we don't have tall buildings,
you'll only see greenery
expanding to the horizon.
[dreamy music]
'We can't provide the cool breeze of an AC'
'but you may experience the joy of reading a book'
'under the shade of a Neem tree.'
Now you're making us feel jealous.
Wonderful! [laughing]
'Instead of thin-crust pizza, '
'- we like to eat a buttered-up roti made on a cook stove. - Awesome!'
Wow! White butter!
- We enjoy drinking chaas instead of energy drinks. - Very good!
Amazing.
You and I belong to the same country.
You belong to India and I'm from Bharat.
Wow!
Today I have come here to introduce Bharat to India.
[joyful music]
And I'm the founder of BAROSi.
- Wonderful. - BAROSi is an authentic food brand.
All the products of BAROSi are 100% natural.
They aren't adulterated or fake.
[ethereal music]
Our products are milk, ghee,
butter, oil, pickles,
filter coffee and other such things.
[inspirational music]
You may buy all our products
is to make BAROSi a part of every Indian kitchen.
I want to make BAROSi
a lovable local, homegrown brand.
To fulfil this task, I need your guidance
and Rs. 50 lakhs.
In return, I want to offer you
to every house in India.
- Awesome! - Wow!
Tell me the meaning of your company's name.
Tell me a bit about your hometown in Uttar Pradesh.
Vineeta, I spent my childhood in a traditional India.
The brand name is inspired by that.
[music playing]
In my village, during my childhood,
there was no electricity.
To prevent milk from curdling, a 'barosi' was used.
I'll describe it to you.
We didn't have refrigerators.
So, we used to dig a hole in the ground.
[music playing]
In that, we would burn wood pieces and dung cakes,
place a clay pot with the milk in it,
[music playing]
Our school was 6 km away.
We used to walk 12 km in all.
- Oh. - Wow.
Every day?
I'll tell you that story later.
[laughs]
By evening, when we would reach home, the milk
would have an amazing aroma and a thick layer of cream.
Wow!
My mother would offer us a glass each.
We started our business with milk,
it reminded us of that setup, and hence BAROSi.
- Who designed this logo? - Wow!
Did you do it?
I'm very surprised because we rarely get to see such detailing.
Anupam, these details... Uh, although I'm from Bharat,
I love my brand a lot.
- Very good. - The smallest of details
I always scrutinise it before taking it ahead.
We got it.
These dots
on B, represents Bharat and on I, represents India.
Ah!
So, BAROSi brings these worlds together.
Oh, 'B' from Bharat and 'I' from India. Wow!
I felt that there was a story behind it. Very nice!
So, Durlabh, you did your schooling in Dayanatpur.
- Yes. - What did you study further?
Were you doing something before BAROSi happened?
The school in our village was up to the 10th standard.
To reach high school, we had to walk 6 km.
[music playing]
My mother promised a cycle if I scored well in the exams.
[music playing]
I scored well and earned a cycle.
But I met with an accident as soon as I got the cycle.
I didn't have money to buy another cycle.
So, we had to walk 6 km
amidst fields to reach school.
[music playing]
Living in a village
we had one target.
We wanted to leave the village.
[music playing]
So, I have completed my diploma in engineering from Delhi.
I got selected from the campus
to work in Eicher Motors Limited where I worked for two years.
I worked for ten years in Mahindra & Mahindra.
[music playing]
There was a time when
I wanted to start something.
[music playing]
After 12 years of corporate experience, I was certain
that I will build a business in Bharat.
That's all I know.
I'm a farmer's son and understand farming well.
We received milk fresh from our cows in the backyard.
So, to implement this knowledge
I started my business in Bharat.
[music playing]
We started BAROSi to bring Bharat and India together.
- This was in 2016. - Yes, 2016.
- Sure, sir. - Yes.
From 2016 to 2022,
in the last four years,
Here are the numbers!
You shut everyone up.
And this was achieved in a B2B model?
- No, B2C. - Okay.
- What was your sale last month? - 42 lakhs.
I have an important question.
[music playing]
Everyone has a story to tell. It's about Bharat, villages,
what's so special?
and there wasn't much growth after that.
Maybe because there's a lot of competition.
The sales didn't grow much last year because
we had a different branding earlier.
There were gaps.
It took us six months.
The time devoted to sales
was redirected to branding.
And a boot-strapped company doesn't have many resources, sir.
But this is not the answer.
I want to know what is the differentiation.
Let's come back to these questions later.
Okay.
First, show us the product.
[music playing]
Uh, I'll bring a few.
Honey, ghee,
Oh, besan ka laddoo, wow! It's awesome!
- Is it made of finger millet? - Yes.
Yummy.
Can you show us your Instagram page?
Yes.
This is the Instagram account.
How many followers do you have?
- 9300. - 9313.
This is quite low.
And there is zero engagement.
Why don't you make reels that show the milk extraction process,
farming, and more. That will engage your audience.
9000 is really low.
You've been doing it for four years.
We'll do that too, sir.
One of our investments, Humpy A2.
- They came in Season 1. - Yes.
- They do the same thing. - Yes.
Have you evaluated the difference between you and Humpy A2?
On marketplaces like Amazon, Big Basket,
you can buy our product pan-India.
If you search, BAROSi will be top on the list.
What do we have to search for?
Cow ghee, A2 cow ghee, pure ghee.
You're saying that BAROSi will be the first listing on Amazon.
On Big Basket.
- On Big Basket. - Okay.
Not on Amazon.
- It will not be on top. - Who is on top?
[music playing]
- The first... - Anveshan.
Yes, Anveshan.
Anveshan.
I'll tell you the story of Anveshan.
You're an investor.
I'm an investor in Anveshan.
Two years ago, they used to make 2 lakhs a month.
Yes.
- Last month, they earned a crore. - Okay.
I exited in the last round.
I invested ten lakhs and earned a crore
- in two years. - Wow.
- Awesome.
It has a solid growth story.
- Yes. - They don't need an investor.
They still have a backup.
- He is awesome. - Yes.
I don't know what categories
- he will add up. - When we invested in Humpy A2,
they used to make 5 lakhs a month.
Now, they are making 50 lakhs a month.
So, Humpy A2 makes 6 crores a year.
And they sell only in and around Pune.
But they're more aggressive and have a better marketing strategy.
Am I right?
- No, Sir. It's not like that. - Why?
- Because... - But their growth is more.
Money changes the game.
It's not about money.
Sir, money brings...
For example, Humpy A2
grew after appearing on Shark Tank.
And the story before Shark Tank happened is very different.
[music playing]
Durlabh, what are your top three SKUs?
Milk contributes to 70% of our sales.
- It contributes 4%. - I'm asking you
because 94% of the contribution is made
- by three SKUs. - Yes.
What are your total SKUs?
Our total SKUs are 23.
'BAROSi'
Why have you launched so many SKUs?
And you want to launch two more.
The white space had a product
of a Me2 category. We want to enter that category with laddu.
Let me tell you honestly that I loved ghee and honey
but laddu tastes average.
My advice is that you already have so many SKUs.
- Please don't launch one more category. - Exactly!
Your business runs on milk.
There's no margin in the milk business.
Sir, we have a healthy margin.
[dramatic music]
What's the price of your milk?
- It costs Rs. 88 per litre. - Oh!
[dramatic music]
[suspenseful music]
The cost of acquiring a customer
is 10 dollars at least which means Rs. 700 to Rs. 800.
If a customer buys milk for a month regularly, they'll get accustomed.
And they have too many options.
I don't think you'll get profit if corporate expenses are added.
- Okay. - What is your margin now? Are you profiting or not?
We have always been EBITDA positive.
Last year we achieved 14% EBITDA.
Why?
Now that we are growing,
we use our earnings after selling milk
and channelise it to the growth
and marketing of ghee.
- Durlabh, I have made my decision. - Okay.
Basically, I would like to congratulate you
because you hail from a village in west UP.
- Now you are making sales of Rs. 5 crores per year. - Yes.
It's a fantastic success story.
As an investor, our job
- is to tell it like it is. - Okay.
Right? And all of us have been telling you the same thing,
it's a cluttered market.
If you don't have a differentiator,
it's difficult to build a brand in this category.
On top of it, you want to launch laddu in the name of white space.
If you really want to scale it up,
you need to work at the ground level.
[tense music]
I won't be able to help you
- and for that reason, I'm out. - Thank you!
Okay. Durlabh, I have made my decision too.
Your packaging, branding
and storytelling are fantastic!
I wish you could do the same storytelling you did here
through Instagram and YouTube.
The challenge is that 70% of your business comes from milk
and it's not a product business now.
It is no longer a brand business.
It has always been a supply chain business
and people have already cracked it through door-to-door delivery.
So you still need to crack
At this stage, I can't invest
but best of luck.
Thank you!
I think you're a strong entrepreneur and jovial in nature.
You have a positive attitude
and I think you'll grow your business successfully.
Your revenue was less this year
as you spent 6 months in branding but a business can't afford it.
[thrilling music]
- It should be done parallelly. - Okay.
You know, you must achieve sales along with branding.
You don't get such leverages in businesses.
[adventurous music]
I can't join you because I'm an investor in Humpy.
- And it would become a direct competition. - Yes.
So let's meet in the market.
Sure!
What lesson did you learn here?
My challenge is to develop my products
to get a hero product for the white space.
The one having a high gross margin.
If it leads BAROSi,
it would become a profitable business.
- Alright! - Very well said.
So you finally got honest feedback on this platform.
[dramatic music]
- The market you are dealing with is worth crores of rupees. - Okay.
You are an Indian farmer.
I think you will surely make a product
that will help you grow your business.
It's not investible for now so I'm out but good luck to you.
[sweeping music]
[eerie music]
He couldn't answer about the differentiator.
A one-month-old product is his white space.
- How can laddu be meant for white space? - He is a perfectionist.
'In today's Shark Xperience segment, '
'Smriti from Karnal has a question for you, Anupam.'
'What is product-market fit?'
'And how important it is for a business?'
When a good product
is accepted in a good market
at the right price point, it is called product-market fit.
It's important
because you can't build a business without achieving it.
Let me give you an example of Shaadi.com.
We spent years to achieve a product-market fit.