1 00:00:34,800 --> 00:00:38,160 'This week on Shark Tank season 2...' 2 00:00:49,960 --> 00:00:51,120 [upbeat music playing] 3 00:00:51,320 --> 00:00:53,480 'Hornback presents the world's first' 4 00:00:53,480 --> 00:00:55,960 'full-sized diamond frame folding bicycle.' 5 00:00:56,240 --> 00:00:58,240 'The tyre touches the leg.' 6 00:00:58,760 --> 00:01:00,000 'Is it stable or not?' 7 00:01:00,080 --> 00:01:01,360 - 'Perfectly stable. - He looks stable.' 8 00:01:01,360 --> 00:01:02,800 'Then Anupam is the problem.' 9 00:01:03,200 --> 00:01:06,240 'At VA Perfume products, we make night incense sticks.' 10 00:01:06,560 --> 00:01:08,280 'It leaves the room so fragrant' 11 00:01:08,400 --> 00:01:10,520 'and automatically puts you in a romantic mood.' 12 00:01:11,120 --> 00:01:12,960 'The smoke is going right on my face.' 13 00:01:13,120 --> 00:01:15,400 - '- Do you feel anything? - [laughs] 14 00:01:16,240 --> 00:01:17,800 'Introducing Neuphony.' 15 00:01:18,000 --> 00:01:19,720 'Your brain's smartwatch.' 16 00:01:20,120 --> 00:01:23,800 'Gladful is India's first family-friendly protein brand.' 17 00:01:24,120 --> 00:01:25,280 'What's your background?' 18 00:01:25,440 --> 00:01:28,320 'Sir, I've done audits for you earlier.' 19 00:01:28,400 --> 00:01:30,480 - '- Really? - Expose his business.' 20 00:01:31,000 --> 00:01:32,240 [laughs] 21 00:01:32,360 --> 00:01:35,520 'I began making premium agave spirits' 22 00:01:35,600 --> 00:01:38,440 'and gave India a new alcohol category.' 23 00:01:39,080 --> 00:01:42,280 'One of you is anonymous and very popular on social media.' 24 00:01:42,360 --> 00:01:44,000 'You criticised Shark Tank.' 25 00:01:44,080 --> 00:01:46,240 'All is fair in humour and sarcasm.' 26 00:01:46,320 --> 00:01:47,640 'Every dog has his day.' 27 00:01:47,720 --> 00:01:49,600 [laughs] 28 00:01:49,880 --> 00:01:51,640 'And today is my day!' 29 00:01:51,720 --> 00:01:53,160 [laughs] 30 00:01:53,320 --> 00:01:55,200 'You're not making any revenue.' 31 00:01:55,200 --> 00:01:58,120 'What will you make for yourself and how will give us returns?' 32 00:01:58,480 --> 00:01:59,480 'Tell us your sales.' 33 00:01:59,720 --> 00:02:01,120 - '- Sir, Rs. 42 lakhs. - Rs. 42 lakhs.' 34 00:02:01,240 --> 00:02:02,520 - '- In a month! - Yes.' 35 00:02:02,520 --> 00:02:03,560 'That's what I'm talking about.' 36 00:02:03,640 --> 00:02:05,000 - '- Good. - You shut them up.' 37 00:02:05,240 --> 00:02:06,600 'I wish to make you an offer.' 38 00:02:06,920 --> 00:02:08,280 'I will make you an offer too.' 39 00:02:08,280 --> 00:02:09,760 [intense music playing] 40 00:02:09,920 --> 00:02:12,560 'Our offer aims to invest in your company and make it big.' 41 00:02:12,640 --> 00:02:13,720 'Whereas their offer aims' 42 00:02:13,800 --> 00:02:16,360 'to invest in your company and make their companies big.' 43 00:02:16,920 --> 00:02:18,480 'You've seen our books.' 44 00:02:18,480 --> 00:02:20,520 'You know I do business with the intent of making a profit.' 45 00:02:20,600 --> 00:02:22,880 'He's exaggerating. Don't fall for his statements.' 46 00:02:23,640 --> 00:02:25,200 - '- This is the only deal you have. - Yes or no?' 47 00:02:25,280 --> 00:02:27,840 [intense music playing] 48 00:02:28,000 --> 00:02:30,440 [theme music plays] 49 00:02:32,080 --> 00:02:34,280 'After having done engineering from Germany, ' 50 00:02:34,360 --> 00:02:37,480 'Shark Tank's first pitchers for the day' 51 00:02:37,600 --> 00:02:39,760 'come with a unique brain device' 52 00:02:39,840 --> 00:02:41,080 'through which they will be performing' 53 00:02:41,200 --> 00:02:43,480 'a pressure test on all the Sharks.' 54 00:02:44,080 --> 00:02:47,640 [theme music fades] 55 00:02:49,040 --> 00:02:49,960 Relax. 56 00:02:50,200 --> 00:02:51,640 - Hi, Sharks. - Hi. 57 00:02:51,840 --> 00:02:53,880 I'm sure you must be exhausted after hearing 58 00:02:54,000 --> 00:02:55,560 pitch after pitch since morning. 59 00:02:56,440 --> 00:02:59,240 Please join me in taking a deep breath. 60 00:02:59,800 --> 00:03:02,080 [inhaling and exhaling] 61 00:03:02,200 --> 00:03:05,960 Now, close your eyes and focus on your breath. 62 00:03:06,040 --> 00:03:07,480 Will you take the cheque and run away? 63 00:03:07,560 --> 00:03:10,320 - No, I won't. - [unanimous laughter] 64 00:03:12,200 --> 00:03:13,640 Well said, Vineeta. 65 00:03:13,640 --> 00:03:15,120 [laughs] 66 00:03:18,400 --> 00:03:19,520 [steam blows] 67 00:03:19,520 --> 00:03:20,960 - Whoa! - Whoa! 68 00:03:24,320 --> 00:03:26,560 - [eerie sounds] - Oh... 69 00:03:29,040 --> 00:03:31,080 What are you doing, brother? 70 00:03:31,080 --> 00:03:32,440 [laughs] 71 00:03:33,440 --> 00:03:35,400 Sharks, this experiment 72 00:03:35,400 --> 00:03:37,640 was a way of demonstrating how in our regular lives, 73 00:03:37,720 --> 00:03:42,440 our attention is impacted by stress and distractions. 74 00:03:42,680 --> 00:03:45,160 Do you remember what Rancho said in the movie 3 Idiots? 75 00:03:45,360 --> 00:03:46,680 "Engineers are very cunning." 76 00:03:46,760 --> 00:03:49,000 "They didn't invent a machine to measure the stress levels." 77 00:03:49,080 --> 00:03:51,000 [vocalising] 78 00:03:52,360 --> 00:03:54,560 But we have invented that machine. 79 00:03:56,120 --> 00:03:57,560 My name is Ria Rustagi. 80 00:04:01,400 --> 00:04:02,960 Introducing Neuphony. 81 00:04:03,080 --> 00:04:04,680 Your brain's smartwatch. 82 00:04:04,760 --> 00:04:07,160 [Bollywood song plays] 83 00:04:11,280 --> 00:04:14,280 This device needs to be worn on the head. 84 00:05:01,840 --> 00:05:03,440 Jokes apart, welcome to Shark Tank. 85 00:05:03,520 --> 00:05:04,480 - Thank you so much. - Thank you so much. 86 00:05:11,960 --> 00:05:14,240 We know each other for 11 years. 87 00:05:14,400 --> 00:05:16,600 We met during our bachelors. 88 00:05:16,600 --> 00:05:18,280 We got married last year. 89 00:05:18,360 --> 00:05:21,760 And we started working on this device three years ago. 90 00:05:21,880 --> 00:05:23,040 In 2016, 91 00:05:23,040 --> 00:05:25,800 my elder sister was diagnosed with a brain infection. 92 00:05:26,480 --> 00:05:28,320 For almost nine months, 93 00:05:28,400 --> 00:05:30,880 her brain infection went undiagnosed 94 00:05:30,960 --> 00:05:33,560 because doctors called it cervical pain. 95 00:05:33,640 --> 00:05:35,440 [sentimental music playing] 96 00:05:36,720 --> 00:05:38,280 She could walk and talk 97 00:05:38,360 --> 00:05:40,880 when she got admitted to the hospital of her own accord. 98 00:05:56,120 --> 00:05:58,000 - Oh... - Sorry to hear that. 99 00:05:58,160 --> 00:06:00,400 [sentimental music playing] 100 00:06:02,800 --> 00:06:05,320 This is our dedication towards that. 101 00:06:05,400 --> 00:06:09,000 We had no idea of brain activity at the time. 102 00:06:09,080 --> 00:06:10,840 Why did that happen or how? 103 00:06:11,080 --> 00:06:13,000 We had to accept what happened. 104 00:06:13,920 --> 00:06:16,440 Our goal is that this product and technology... 105 00:06:16,440 --> 00:06:18,840 Just as we know how to improve heart health, 106 00:06:18,960 --> 00:06:21,160 I wish to introduce that very thing for the brain. 107 00:06:21,600 --> 00:06:23,640 [sentimental music playing] 108 00:06:23,920 --> 00:06:26,240 - Ria, you're a very brave person. - Thank you. 109 00:06:26,240 --> 00:06:28,080 I applaud you for that. 110 00:06:43,160 --> 00:06:46,160 Ria, for the benefit of the viewers, could you explain what EEG is 111 00:06:46,280 --> 00:06:48,200 - in simple terms? - Yes. 112 00:06:54,640 --> 00:06:56,040 EEG denotes brain waves. 113 00:06:56,120 --> 00:06:59,040 With its help, we can learn a lot about how our brain functions. 114 00:06:59,120 --> 00:07:01,680 Your sleeping state, relaxed state, 115 00:07:01,800 --> 00:07:03,560 focus and even flow state, 116 00:07:03,560 --> 00:07:05,560 which normally is represented by athletes. 117 00:07:15,440 --> 00:07:17,440 [sombre music playing] 118 00:07:23,160 --> 00:07:25,760 The next step is baseline calculation 119 00:07:52,560 --> 00:07:54,800 We can monitor it weekly and monthly 120 00:07:54,880 --> 00:07:56,600 and actually give you warnings. 121 00:07:56,680 --> 00:07:59,240 So, you should consult your doctor in that case. 122 00:08:07,680 --> 00:08:08,720 Give him a head massage. 123 00:08:08,800 --> 00:08:10,120 No, but that means it's working. 124 00:08:10,200 --> 00:08:13,360 - Coming here increases the stress levels of founders. - Exactly. 125 00:08:13,880 --> 00:08:15,640 That's why we are called Sharks. 126 00:08:16,840 --> 00:08:20,400 Then you can see how your focus changed 127 00:08:20,480 --> 00:08:22,360 throughout those one and a half minutes. 128 00:08:35,480 --> 00:08:36,720 on a day-to-day basis. 129 00:08:38,000 --> 00:08:39,360 This is the stress graph. 130 00:08:39,640 --> 00:08:42,560 We measured this in the morning. 131 00:08:52,600 --> 00:08:56,480 If a person's relaxation score is 10% every day, 132 00:08:56,600 --> 00:08:58,320 it means 90% stress. 133 00:08:58,440 --> 00:08:59,840 That is not okay. 134 00:09:00,040 --> 00:09:02,960 So, we motivate users to do something 135 00:09:03,200 --> 00:09:04,520 to change that score. 136 00:09:04,600 --> 00:09:07,080 Be it meditation or sports, 137 00:09:07,200 --> 00:09:08,920 you could do just about any activity. 138 00:09:09,200 --> 00:09:11,560 Monitor brain activity pre and post the activity 139 00:09:11,640 --> 00:09:15,400 and see how you can get the best results. 140 00:09:16,080 --> 00:09:18,560 You can include music therapies, breathing techniques 141 00:09:18,560 --> 00:09:20,840 and even cognitive games in future, 142 00:09:20,920 --> 00:09:24,480 to monitor and improve your performance. 143 00:09:25,480 --> 00:09:27,720 So, what you're saying is what you can measure, you can improve. 144 00:09:27,800 --> 00:09:30,200 Exactly. If you can't track it, you can't change it. 145 00:09:30,320 --> 00:09:32,320 [music playing] 146 00:09:32,920 --> 00:09:34,160 What is its accuracy? 147 00:09:42,160 --> 00:09:44,160 to prove it is 98% accurate? 148 00:09:45,200 --> 00:09:49,720 We measured the EEG of 14 people using a gold standard device. 149 00:09:49,920 --> 00:09:51,200 And parallelly, on our device too. 150 00:09:51,200 --> 00:09:53,520 Is 14 a good enough number or a small number? 151 00:09:54,920 --> 00:09:56,880 Statistically, it is insignificant. 152 00:09:56,880 --> 00:09:57,920 It is a small number. 153 00:09:58,760 --> 00:10:01,000 What is the competition within India and globally? 154 00:10:01,080 --> 00:10:03,280 Within India, there is nobody as of today. 155 00:10:03,280 --> 00:10:08,160 We call ourselves the pioneers of the neurotech industry in India. 156 00:10:08,320 --> 00:10:11,680 It's because big companies as well as research institutes 157 00:10:11,680 --> 00:10:14,400 are seeking our help to understand this. 158 00:10:14,480 --> 00:10:15,440 Globally? 159 00:10:16,000 --> 00:10:19,400 Globally, there are two companies in the US in the meditation space 160 00:10:19,560 --> 00:10:21,560 and wellness space specifically. 161 00:10:21,760 --> 00:10:23,560 [intense music playing] 162 00:10:23,680 --> 00:10:24,800 What is its price? 163 00:10:24,880 --> 00:10:26,800 Its price is Rs. 49,000. 164 00:10:33,640 --> 00:10:36,560 The electronics itself cost Rs. 34,000. 165 00:10:36,680 --> 00:10:37,920 - Okay. - Oh my God! 166 00:10:38,000 --> 00:10:40,560 How can end customers pay Rs. 49,000? 167 00:10:40,680 --> 00:10:42,880 But it is businesses that pay. 168 00:10:49,360 --> 00:10:51,160 Or suppose I run a wellness centre 169 00:10:51,240 --> 00:10:54,080 where I want to see how well the students there are performing. 170 00:10:54,440 --> 00:10:55,680 This is where it comes into use. 171 00:10:55,760 --> 00:10:58,080 What are your sales? You launched it 4 months ago. 172 00:10:58,080 --> 00:10:59,600 We did a pre-sale 173 00:10:59,680 --> 00:11:02,280 in which we sold around 12 to 15 products 174 00:11:02,440 --> 00:11:03,560 in 6 countries. 175 00:11:03,640 --> 00:11:06,560 And even after it was launched, we sold 10 to 12 products. 176 00:11:06,640 --> 00:11:08,360 And 10 products have gone to researchers, 177 00:11:08,440 --> 00:11:11,600 corporate centres and psychotherapists for free. 178 00:11:11,680 --> 00:11:15,160 Why should I agree to a valuation of Rs. 50 crores for 40 sales? 179 00:11:15,400 --> 00:11:17,240 [intense music playing] 180 00:11:30,600 --> 00:11:32,560 because based on the customers' testimonials, 181 00:11:32,560 --> 00:11:34,880 research studies are being conducted. 182 00:11:34,960 --> 00:11:37,640 DRDO, C-DAC, IISc... 183 00:11:37,640 --> 00:11:40,120 Government College of Yoga Education & Health 184 00:11:40,280 --> 00:11:41,720 is the sole institute 185 00:11:41,920 --> 00:11:44,200 - to give degrees in yoga education.. - Slow down, Ria. 186 00:11:44,280 --> 00:11:46,400 I don't see the business in all this. 187 00:11:47,640 --> 00:11:50,440 Okay? Just straight up, I don't want to mess with you. 188 00:11:51,080 --> 00:11:54,560 You're a pre-revenue business. 189 00:11:55,200 --> 00:11:56,480 You've sold a few products. 190 00:11:56,480 --> 00:11:58,880 I don't think that creates a revenue stream 191 00:11:59,680 --> 00:12:02,040 in search of product market fit. 192 00:12:02,280 --> 00:12:03,920 Today you have come here 193 00:12:04,040 --> 00:12:05,640 to ask for Rs. 50 crores 194 00:12:05,880 --> 00:12:07,160 valuation 195 00:12:07,400 --> 00:12:09,840 on an unproven Science. Right? 196 00:12:09,960 --> 00:12:12,440 No matter what you say, the brainwaves 197 00:12:12,720 --> 00:12:13,880 can surely be measured 198 00:12:13,960 --> 00:12:16,560 but their interpretation isn't clear yet. 199 00:12:16,640 --> 00:12:19,160 I have studied Neurofeedback technology 200 00:12:25,200 --> 00:12:26,560 If it exceeds the limit, 201 00:12:26,640 --> 00:12:29,440 I'm offered treatment accordingly. 202 00:12:29,560 --> 00:12:32,720 The standardised process is already established. 203 00:12:32,800 --> 00:12:34,520 [sweeping music] 204 00:12:35,160 --> 00:12:36,920 It's still not clear to me 205 00:12:37,040 --> 00:12:40,320 if it's a gimmick or a life-changing technology. 206 00:12:40,480 --> 00:12:43,680 I really hope it's the latter 207 00:12:43,800 --> 00:12:45,840 and I wish you the best for that 208 00:12:45,920 --> 00:12:48,040 but right now it's not working 209 00:12:48,240 --> 00:12:50,200 for me so I'm out for now. 210 00:12:50,320 --> 00:12:52,040 [sweeping music] 211 00:12:59,480 --> 00:13:01,240 People don't have time to do all this. 212 00:13:01,360 --> 00:13:02,720 Can't you reduce its cost? 213 00:13:02,800 --> 00:13:05,000 These sensors are imported from abroad 214 00:13:16,600 --> 00:13:18,600 How will you monitor through glasses? 215 00:13:34,000 --> 00:13:36,520 - but when we pre-launched last year... - You got stuck. 216 00:13:36,840 --> 00:13:40,600 During the pre-launch, we realised that this device 217 00:13:40,720 --> 00:13:41,880 is more approachable for corporates. 218 00:13:41,960 --> 00:13:44,320 So we pivoted to change our direction 219 00:13:44,400 --> 00:13:46,480 but our journey for the next three years 220 00:13:46,760 --> 00:13:51,240 is targeted towards the D2C market as we believe it's more scalable. 221 00:13:51,320 --> 00:13:54,320 You need to invest in R&D for that technology. 222 00:13:55,480 --> 00:13:58,520 The technology will be the same as EEG will be monitored 223 00:13:58,600 --> 00:14:00,360 with a smaller sensor brush 224 00:14:00,440 --> 00:14:02,840 and the mechanical design will become aesthetically easier. 225 00:14:02,920 --> 00:14:06,400 - We need your help with this. - We need your help. 226 00:14:08,880 --> 00:14:11,160 - I want to make an offer. - Alright! 227 00:14:11,480 --> 00:14:14,800 Basically, I'm inclined towards mental health. 228 00:14:15,200 --> 00:14:18,320 I think it can be used in different areas. 229 00:14:40,840 --> 00:14:43,400 Let the other Sharks try. Why are you sidelining us? 230 00:14:45,080 --> 00:14:46,600 What is your current burn rate? 231 00:14:51,400 --> 00:14:53,960 I'm sorry! [laughing] 232 00:14:54,040 --> 00:14:55,720 - So you are left with Rs. 1 crore. - Yes! 233 00:14:55,800 --> 00:14:58,440 What is your revenue target in FY 22-23? 234 00:14:59,320 --> 00:15:01,440 We have a goal of 1,000 products. 235 00:15:01,520 --> 00:15:03,360 So it would result in somewhere around... 236 00:15:18,120 --> 00:15:20,680 I'm not totally convinced with your approach 237 00:15:20,760 --> 00:15:22,360 but that can be discussed later. 238 00:15:22,800 --> 00:15:25,960 I can't compete with Ms. Namita as she's in the healthcare space. 239 00:15:26,040 --> 00:15:28,280 [suspenseful music] 240 00:15:29,000 --> 00:15:30,520 I'm happy to join her 241 00:15:44,080 --> 00:15:45,400 Aha! 242 00:15:46,080 --> 00:15:47,280 Come on! 243 00:15:47,440 --> 00:15:48,840 I have a condition though. 244 00:15:51,000 --> 00:15:52,400 Please convince Peyush. 245 00:15:53,280 --> 00:15:55,000 [laughing] 246 00:15:55,320 --> 00:15:57,520 He's already convinced. He's borderline convinced. 247 00:15:59,200 --> 00:16:01,160 We'll make you an offer 248 00:16:01,360 --> 00:16:05,920 - and ask you to forget about the sale of Rs. 5 crores. - Sunk cost! 249 00:16:13,760 --> 00:16:17,840 Let's focus on the long term and make a product in 3 to 4 years. 250 00:16:17,960 --> 00:16:19,680 Are you okay with it? 251 00:16:21,480 --> 00:16:22,960 Yes, we are okay. 252 00:16:23,040 --> 00:16:25,960 As long as I can convince my old investors, we are good to go. 253 00:16:26,120 --> 00:16:28,200 Got it. Aman, shall we discuss it? 254 00:16:28,320 --> 00:16:30,840 Yes. [thrilling music] 255 00:16:32,240 --> 00:16:35,720 Don't you think that it's the right GTM for you? 256 00:16:35,840 --> 00:16:37,440 Are you running this business only to get revenue? 257 00:16:37,520 --> 00:16:40,560 - Um... - You readily agreed to a different GTM. 258 00:16:43,200 --> 00:16:45,480 When you introduce a product in the market 259 00:16:45,680 --> 00:16:47,560 and make an action plan 260 00:16:47,640 --> 00:16:49,560 to get a competitive advantage, 261 00:16:49,840 --> 00:16:53,480 that action plan is called GTM or go-to-market strategy. 262 00:16:54,440 --> 00:16:58,160 I think they have two options right now. 263 00:16:58,240 --> 00:17:02,880 They may choose the route of bulk order and corporate wellness centres 264 00:17:03,040 --> 00:17:06,600 or take a gap of two years as they advised 265 00:17:06,720 --> 00:17:09,120 and create a more affordable device for the masses. 266 00:17:09,360 --> 00:17:13,160 - You must figure out what you need to do with your company. - Exactly! 267 00:17:13,800 --> 00:17:16,480 We didn't overhear your conversation so... 268 00:17:16,600 --> 00:17:17,760 It was nothing. Please make an offer. 269 00:17:17,840 --> 00:17:21,640 - You wouldn't have understood what I said so don't worry. - Woah! 270 00:17:23,760 --> 00:17:25,280 We want to match their offer. 271 00:17:34,440 --> 00:17:38,360 but we are ready to fund your cash requirements in future. 272 00:17:39,720 --> 00:17:43,840 Ria and Bhavya, we want the best for you. 273 00:17:44,360 --> 00:17:47,240 Our offer is to invest in your company and make it big 274 00:17:47,360 --> 00:17:50,600 but their offer is to invest in your company and make their company big. 275 00:17:50,920 --> 00:17:53,960 - So please decide what you want to do. - I disagree. 276 00:17:55,640 --> 00:17:57,560 Your company belongs to you. 277 00:17:58,080 --> 00:18:01,200 You just need timely support 278 00:18:01,520 --> 00:18:03,520 for mass scale. Right? 279 00:18:04,280 --> 00:18:05,960 People gossip. 280 00:18:07,120 --> 00:18:08,160 Please don't be misled. 281 00:18:09,240 --> 00:18:12,200 Please wear those and think calmly. 282 00:18:12,280 --> 00:18:15,080 And he isn't trying to influence you. 283 00:18:15,160 --> 00:18:16,800 No! Did I influence you? 284 00:18:16,920 --> 00:18:20,520 Did we promise to give you a few crore rupees later? 285 00:18:20,720 --> 00:18:23,960 Please don't be misled by tall tales and make a decision. 286 00:18:24,160 --> 00:18:25,440 Labels! 287 00:18:25,520 --> 00:18:27,880 [adventurous music] 288 00:18:28,960 --> 00:18:30,080 Aman! 289 00:18:30,640 --> 00:18:31,920 Breathe! 290 00:18:32,000 --> 00:18:35,600 - I ignore a few times and the third time... - Oh! 291 00:18:36,240 --> 00:18:37,680 We'll teach you a lesson later. 292 00:18:37,880 --> 00:18:39,400 Do you two need boxing gloves? 293 00:18:40,680 --> 00:18:43,480 Do you want D2C? Or do you see the value in that? 294 00:18:43,600 --> 00:18:45,120 I see the value in D2C. 295 00:18:46,760 --> 00:18:48,200 Namita's manufacturing. 296 00:18:49,280 --> 00:18:50,600 Peyush's manufacturing. 297 00:18:50,680 --> 00:18:53,720 [thrilling music] 298 00:18:56,240 --> 00:18:57,280 Yes? 299 00:18:57,600 --> 00:18:59,560 Sharks, thank you for your offers. 300 00:18:59,720 --> 00:19:01,960 We have a counteroffer for you. 301 00:19:18,680 --> 00:19:23,280 Honestly, if you didn't have a prior valuation, 302 00:19:23,360 --> 00:19:26,200 an equity of 6.66% is generous. 303 00:19:26,280 --> 00:19:28,200 I'm telling you as a healthcare person. 304 00:19:29,440 --> 00:19:32,280 Aman and I have a counteroffer. 305 00:19:46,640 --> 00:19:48,560 Decide right away and close it. 306 00:19:48,680 --> 00:19:49,680 Close? 307 00:19:49,840 --> 00:19:51,240 Do you want to match them? 308 00:20:01,360 --> 00:20:02,600 [chuckling] Say, yes. 309 00:20:02,680 --> 00:20:04,920 - Come on, Ria! Decide! - Say it! 310 00:20:07,400 --> 00:20:09,520 [suspenseful music] 311 00:20:14,440 --> 00:20:15,560 Sharks, deal done! 312 00:20:23,800 --> 00:20:26,120 [photo clicking] 313 00:20:27,960 --> 00:20:30,600 - Good job, guys! - Pleasure is completely ours. 314 00:20:30,680 --> 00:20:32,760 - Well done! - Thank you so much! 315 00:20:33,920 --> 00:20:37,240 For entrepreneurs, our investment 316 00:20:37,600 --> 00:20:41,160 brings two types of strengths. One is technology and manufacturing 317 00:20:41,440 --> 00:20:44,680 and Aman brings the second strength of marketing. 318 00:20:44,800 --> 00:20:48,480 - Yes but... - I don't think another Shark is needed with us. 319 00:20:48,560 --> 00:20:51,760 You must change Shark Tank's format as we two are enough. 320 00:20:51,840 --> 00:20:53,440 [chuckling] 321 00:22:16,200 --> 00:22:18,200 [carnival music] 322 00:22:19,480 --> 00:22:23,120 'One of the weirdest entrepreneurs of last season' 323 00:22:23,200 --> 00:22:24,840 'is Jugaadu Kamlesh.' 324 00:22:26,120 --> 00:22:28,080 'After finding the solution to the farmer's problem, ' 325 00:22:28,160 --> 00:22:32,320 'Jugaadu Kamlesh is considered Malegaon's superhero.' 326 00:22:32,400 --> 00:22:35,160 [carnival music] 327 00:22:36,880 --> 00:22:39,760 Jugaadu Kamlesh is Malegaon's superhero! 328 00:22:39,840 --> 00:22:42,960 'I'm Jugaadu Kamlesh from Malegaon!' 329 00:22:44,120 --> 00:22:46,920 'Kamlesh and Naru impressed the Sharks' 330 00:22:47,040 --> 00:22:50,000 'with their problem-solving skills and quick-fix solutions.' 331 00:22:50,080 --> 00:22:52,640 'I placed the 20-litre tank on this.' 332 00:22:52,720 --> 00:22:55,160 'We used to carry it piggyback and spray' 333 00:22:55,320 --> 00:22:57,840 - '- but now we'll spray like this. - Wow!' 334 00:22:57,920 --> 00:23:01,400 'It's difficult for you to get funding at your current stage.' 335 00:23:02,040 --> 00:23:04,000 'I'm out as far as investment is concerned.' 336 00:23:04,560 --> 00:23:07,200 - '- Why didn't you try to get a loan? - Who will give it?' 337 00:23:07,920 --> 00:23:08,920 'I'll give.' 338 00:23:10,040 --> 00:23:13,680 'Shark Peyush Bansal believed in Kamlesh.' 339 00:23:13,760 --> 00:23:15,320 'You are India's hope.' 340 00:23:16,240 --> 00:23:19,600 'Shark Peyush Bansal gave him financial support' 341 00:23:19,680 --> 00:23:22,120 'as well as educational and technical support.' 342 00:23:22,200 --> 00:23:25,520 'It helped him improve his product.' 343 00:23:27,200 --> 00:23:29,440 'Naru never left my side during this journey.' 344 00:23:29,520 --> 00:23:31,680 'He worked with me like a shadow.' 345 00:23:31,760 --> 00:23:34,240 [motivational music] 346 00:23:40,680 --> 00:23:43,320 'Kamlesh made the product for me.' 347 00:23:43,480 --> 00:23:47,120 'Now it'll help the farmers everywhere.' 348 00:23:50,640 --> 00:23:53,880 'Earlier, we spent the whole day completing this task' 349 00:23:54,400 --> 00:23:56,360 'but it helps in doing the work of four people.' 350 00:23:56,440 --> 00:23:57,960 It finishes the task within two hours. 351 00:23:58,040 --> 00:24:00,080 Earlier, we spent eight to ten hours doing it. 352 00:24:00,160 --> 00:24:04,000 We may adjust it to move it like our hands. 353 00:24:04,200 --> 00:24:07,520 The new version is lighter. 354 00:24:07,840 --> 00:24:09,400 The earlier version was heavy. 355 00:24:11,000 --> 00:24:12,520 'What does BHARAT K-2 mean?' 356 00:24:12,680 --> 00:24:14,000 [chuckling] 357 00:24:14,080 --> 00:24:16,000 You may enlighten us as you gave this name. 358 00:24:16,280 --> 00:24:18,840 Bharat refers to the farmers. 359 00:24:19,240 --> 00:24:22,600 You presented its first version on Shark Tank, so it's version 2. 360 00:24:22,720 --> 00:24:24,360 - And this is version 2. - Version 2. 361 00:24:36,600 --> 00:24:38,640 and request an investment at a good valuation. 362 00:24:40,240 --> 00:24:42,160 'When it enters the market, ' 363 00:24:42,280 --> 00:24:45,360 I'll be the first one to buy this machine. 364 00:24:45,680 --> 00:24:48,040 'I came to Shark Tank to share the problem of farmers.' 365 00:24:48,120 --> 00:24:51,320 'Today we have the solution to that problem.' 366 00:24:51,480 --> 00:24:54,920 Nobody helped me. Neither Superman, Shaktimaan, 367 00:24:55,280 --> 00:24:57,600 nor Krrish but Mr. Peyush Bansal helped me. 368 00:24:59,240 --> 00:25:03,240 'Shark Tank gave a big platform to Jugadu Kamlesh from a small village' 369 00:25:09,960 --> 00:25:13,400 [theme music playing] 370 00:25:21,000 --> 00:25:24,320 [theme music fades] 371 00:25:28,720 --> 00:25:30,880 - Greetings, Sharks. - Greetings. 372 00:25:30,960 --> 00:25:32,000 Greetings. 373 00:25:32,440 --> 00:25:33,640 The fact is 374 00:25:34,080 --> 00:25:36,520 that in life and death, 375 00:25:36,800 --> 00:25:38,160 only family will stand by you. 376 00:25:39,320 --> 00:25:42,560 If there is sorrow, pain, trouble or illness, 377 00:25:42,800 --> 00:25:44,640 even if no one stands by you, 378 00:25:44,720 --> 00:25:47,400 - your family will, always. - True. 379 00:25:47,480 --> 00:25:49,120 A similar incident happened to me. 380 00:25:59,680 --> 00:26:01,600 [sentimental music playing] 381 00:26:01,680 --> 00:26:03,040 I went into depression. 382 00:26:03,240 --> 00:26:05,440 [sentimental music playing] 383 00:26:07,960 --> 00:26:12,200 Both my children supported me. 384 00:26:13,120 --> 00:26:15,640 And in 2017, 385 00:26:28,840 --> 00:26:32,120 [sentimental music playing] 386 00:26:45,600 --> 00:26:46,920 Owing to poor lifestyle, 387 00:26:47,040 --> 00:26:50,640 physical and mental disorders have become very common. 388 00:26:51,400 --> 00:26:54,360 This is why the world needs Amrutam. 389 00:26:54,560 --> 00:26:58,600 By using the ancient science of ayurveda, 390 00:26:58,720 --> 00:27:01,400 we have developed easy-to-use formulations 391 00:27:01,480 --> 00:27:04,680 that can easily be integrated into a modern lifestyle. 392 00:27:05,040 --> 00:27:06,840 We offer both consumables 393 00:27:06,920 --> 00:27:09,760 as well application-based products. 394 00:27:09,880 --> 00:27:13,400 Amrutam's motto is "health is beauty". 395 00:27:13,480 --> 00:27:15,520 [euphoric music playing] 396 00:27:15,600 --> 00:27:17,520 All our products are 397 00:27:33,360 --> 00:27:35,440 - Wow! - Other than India, we ship 398 00:27:41,400 --> 00:27:43,160 with us on Instagram. 399 00:27:43,280 --> 00:27:45,360 [euphoric music playing] 400 00:27:45,440 --> 00:27:46,640 Our dream is 401 00:27:47,120 --> 00:27:50,160 to make Amrutam a globally-recognised brand 402 00:27:50,280 --> 00:27:53,080 so that ayurveda reaches every household 403 00:27:53,160 --> 00:27:56,840 and people live healthy lives. 404 00:27:57,040 --> 00:27:58,360 Our ask is 405 00:28:17,400 --> 00:28:20,080 I want to know more about your journey. 406 00:28:20,160 --> 00:28:24,040 You said you did things single-handedly from 2006 to 2016. 407 00:28:24,120 --> 00:28:26,360 Why and how? 408 00:28:26,440 --> 00:28:30,600 And tell us how you felt after they joined you. 409 00:28:30,760 --> 00:28:32,600 I felt energised after they came along. 410 00:28:32,680 --> 00:28:34,920 I had forgotten all about my depression. 411 00:28:36,280 --> 00:28:39,440 My daughter has studied mental health. 412 00:28:39,720 --> 00:28:42,440 She diagnosed my depression. 413 00:28:42,520 --> 00:28:45,000 I had not stepped out of the house for about a year. 414 00:28:45,480 --> 00:28:49,800 He's the kind of person who works 14 to 16 hours a day. 415 00:28:50,040 --> 00:28:52,480 And in 2016, 416 00:28:52,760 --> 00:28:55,080 when we lost our main source of income, 417 00:28:55,200 --> 00:28:58,760 he gave up all hope that there was nothing left. 418 00:29:00,560 --> 00:29:03,840 I had completed my masters in clinical psychology just then. 419 00:29:04,040 --> 00:29:06,120 I was about to go abroad for further studies. 420 00:29:06,200 --> 00:29:08,720 - Oh! - But my parents said, "no, 421 00:29:08,800 --> 00:29:10,520 we are in a financial crisis." 422 00:29:10,600 --> 00:29:12,800 We were shocked. 423 00:29:14,120 --> 00:29:20,000 It took a year for us to realise that we must go back to Gwalior. 424 00:29:20,120 --> 00:29:24,280 So both of you decided to let go of your career 425 00:29:24,400 --> 00:29:27,680 - at once to support your dad. - It's a huge sacrifice. 426 00:29:27,760 --> 00:29:30,160 Wow! [mellow music] 427 00:29:30,240 --> 00:29:31,960 I started from zero. 428 00:29:32,600 --> 00:29:36,600 - So whenever I remember my past, I become emotional. - I understand. 429 00:29:36,680 --> 00:29:37,960 Right? 430 00:29:39,840 --> 00:29:42,600 My mom suffered from paralysis 431 00:29:42,720 --> 00:29:43,920 and I got her treated at various places 432 00:29:44,000 --> 00:29:46,240 but she didn't recover. Then I came to know 433 00:29:46,320 --> 00:29:47,840 about an Ayurvedic practitioner 434 00:29:47,920 --> 00:29:49,440 whose medicine improved her condition 435 00:29:49,520 --> 00:29:51,520 - and she started walking again. - Alright. 436 00:29:51,720 --> 00:29:55,920 Since that moment I decided to learn Ayurveda. 437 00:29:56,040 --> 00:29:58,040 I don't have a formal education in Ayurveda. 438 00:29:59,280 --> 00:30:02,080 I got a job in a small company in 1983. 439 00:30:02,160 --> 00:30:05,520 As I met a plethora of Ayurveda practitioners, 440 00:30:05,640 --> 00:30:09,360 I had enough experience by 1998 441 00:30:09,440 --> 00:30:11,280 so I gave some formulae to my company 442 00:30:11,400 --> 00:30:14,600 and asked them to manufacture 20 products for me 443 00:30:14,680 --> 00:30:16,320 as a part of contract manufacturing. 444 00:30:17,800 --> 00:30:18,960 My products 445 00:30:19,040 --> 00:30:21,640 increased their sales by up to 15 times. 446 00:30:21,760 --> 00:30:24,120 I had some misunderstandings with him in 2006 447 00:30:24,200 --> 00:30:27,240 so I started my independent work at a rented place. 448 00:30:27,320 --> 00:30:28,160 - Got it. - Great! 449 00:30:28,240 --> 00:30:29,680 I made sincere efforts 450 00:30:29,800 --> 00:30:33,720 as it was a new concept which was never introduced in India before. 451 00:30:33,800 --> 00:30:35,360 I introduced Malt. 452 00:30:35,480 --> 00:30:37,120 - What did you say? - It's a kind of chutney. 453 00:30:37,200 --> 00:30:39,840 - Herbal jam. - Herbal jam would be the right word. 454 00:30:39,920 --> 00:30:41,840 [ethereal music] 455 00:30:42,640 --> 00:30:44,440 Please update us about your products 456 00:30:44,520 --> 00:30:46,520 - and your business. - I'll go and bring them. 457 00:30:46,600 --> 00:30:48,200 [ethereal music] 458 00:30:49,440 --> 00:30:51,760 It's Malt that we talked about earlier. 459 00:30:53,280 --> 00:30:55,560 These are personal care products. 460 00:30:58,320 --> 00:31:00,280 It's meant for the brain. 461 00:31:00,360 --> 00:31:02,600 - Does it sharpen the brain? - Yes. 462 00:31:06,000 --> 00:31:09,560 I'd call it a herbal concoction. 463 00:31:09,760 --> 00:31:11,720 [retching] Hey! 464 00:31:15,200 --> 00:31:17,040 Sir, what was it? I'm sorry. 465 00:31:17,160 --> 00:31:18,920 - It contains herbs. - It consists of herbs. 466 00:31:19,000 --> 00:31:21,280 It isn't distilled like syrup. 467 00:31:21,360 --> 00:31:24,400 - You could have filtered it first. - No! It must be drunk as it is. 468 00:31:25,920 --> 00:31:27,200 Is it meant to be drunk? 469 00:31:27,320 --> 00:31:30,280 - No. It's meant to be applied on the head. - It's meant for hair. 470 00:31:30,600 --> 00:31:32,200 This particular product 471 00:31:32,320 --> 00:31:35,320 called Kuntal Care Hair Spa treats hair fall and increases 472 00:31:44,360 --> 00:31:46,160 I can't tell you the exact percentage 473 00:31:46,240 --> 00:31:48,720 but numerous people testified and gave reviews 474 00:31:48,840 --> 00:31:51,160 that it's an amazing product. 475 00:31:51,240 --> 00:31:54,120 "It induces sleep and my hair is thicker." 476 00:31:54,240 --> 00:31:55,960 [sweeping music] 477 00:31:56,040 --> 00:31:58,680 You could have added a nice taste to it and aroma too. 478 00:31:58,760 --> 00:32:00,640 Our goal 479 00:32:00,720 --> 00:32:03,680 is not to give you cosmetic benefits 480 00:32:03,800 --> 00:32:07,440 but to give you 100% Ayurvedic products. 481 00:32:07,720 --> 00:32:09,400 Okay. That makes sense. 482 00:32:09,480 --> 00:32:11,320 You may get it tested anywhere. 483 00:32:11,400 --> 00:32:15,240 We assure you that it doesn't contain even 0.01% chemical. 484 00:32:16,120 --> 00:32:19,560 The price points indicate that you are selling them at a higher end. 485 00:32:21,200 --> 00:32:24,000 Did you make it to export 486 00:32:24,120 --> 00:32:25,520 or for the local market? 487 00:32:25,600 --> 00:32:27,120 Luxurious Ayurveda brands 488 00:32:27,240 --> 00:32:29,880 like Kama and Forest Essentials have an average price point 489 00:32:29,960 --> 00:32:31,800 between Rs. 1,100 and Rs. 1,300. 490 00:32:32,880 --> 00:32:35,520 Companies like Dabur and Himalaya 491 00:32:35,600 --> 00:32:37,640 have products in the range of Rs. 100 to Rs. 200. 492 00:32:37,720 --> 00:32:40,440 We had to figure out a middle path for our price point. 493 00:32:40,520 --> 00:32:42,680 Usually, the middle path keeps you languished. 494 00:32:44,680 --> 00:32:46,840 Generally, the market is either at the higher end or the lower end. 495 00:32:46,920 --> 00:32:47,640 - Correct! You are right. - Right? 496 00:32:47,760 --> 00:32:50,840 I saw your price points. I'm not talking about consumables. 497 00:32:50,960 --> 00:32:54,560 - The moisturiser or oil ointment or whatever... - It costs Rs. 1,000. 498 00:32:54,640 --> 00:32:55,760 It costs Rs. 1,000. 499 00:32:55,840 --> 00:32:58,480 You are wrong when you say that your prices follow the middle path. 500 00:32:59,440 --> 00:33:01,360 - It's comparable to Kama products. - Exactly! 501 00:33:01,440 --> 00:33:02,320 It's the same price point. 502 00:33:02,400 --> 00:33:05,880 It's maximum. Our average selling point is around Rs. 700. 503 00:33:11,800 --> 00:33:14,520 is around Rs. 500 crores to Rs. 600 crores market. 504 00:33:15,280 --> 00:33:17,240 And I'm 100% convinced 505 00:33:17,320 --> 00:33:20,040 that your products are much better than the other brands 506 00:33:20,120 --> 00:33:22,000 because you are authentic. 507 00:33:22,680 --> 00:33:24,880 Do you know the problem? 508 00:33:24,960 --> 00:33:27,640 The consumer doesn't know the difference 509 00:33:27,760 --> 00:33:31,720 between the original product and a product made with extracts. 510 00:33:33,000 --> 00:33:34,800 You have a big challenge before you. 511 00:33:34,880 --> 00:33:36,680 Consumers need a quick-fix solution. 512 00:33:36,760 --> 00:33:39,200 Not everyone is passionate about Ayurveda like you. 513 00:33:39,320 --> 00:33:41,320 And people don't read labels. 514 00:33:42,600 --> 00:33:45,400 Now please share your sales figures with us. 515 00:33:45,480 --> 00:33:48,960 During our journey between 2017 and 2019, 516 00:33:49,080 --> 00:33:52,000 we worked for Amrutam Pharmaceuticals 517 00:33:52,080 --> 00:33:53,360 which is a manufacturing company. 518 00:33:53,440 --> 00:33:56,360 We registered our new company in 2019 519 00:33:56,440 --> 00:33:58,080 called Onashi Nature Private Limited 520 00:33:58,160 --> 00:34:00,040 which owns the brand Amrutam. 521 00:34:00,120 --> 00:34:02,200 [upbeat music] 522 00:34:02,760 --> 00:34:04,200 So you have two companies. 523 00:34:04,320 --> 00:34:05,800 - Yes. - It's the manufacturing unit. 524 00:34:05,920 --> 00:34:08,760 It consists of assets, land and vehicles. 525 00:34:08,840 --> 00:34:10,120 And other such things. 526 00:34:10,240 --> 00:34:11,640 Onashi Nature Pvt. Ltd. 527 00:34:11,720 --> 00:34:13,920 - is completely... - Which company do you want to raise funds for? 528 00:34:14,000 --> 00:34:16,720 - For Amrutam which is owned by Onashi Nature. - Amrutam brand. 529 00:34:40,560 --> 00:34:42,560 which was introduced last year. 530 00:34:42,680 --> 00:34:44,760 It reduced Facebook's ROS. 531 00:34:44,840 --> 00:34:48,480 I think all of us were affected in our industry. 532 00:34:50,000 --> 00:34:52,960 What is your projection for now? How much will you earn next year? 533 00:34:53,080 --> 00:34:56,000 If we get funding, we can surely achieve 534 00:34:56,080 --> 00:34:58,360 Rs. 25 crores next year. 535 00:34:58,880 --> 00:35:00,440 And then maybe Rs. 100 crores later on. 536 00:35:00,520 --> 00:35:02,120 What's your profit out of Rs. 3 crores? 537 00:35:02,200 --> 00:35:04,760 - Right now, we are EBITDA negative. - What's the exact figure? 538 00:35:04,840 --> 00:35:07,480 We were Rs. 35 lakhs negative in FY 21-22. 539 00:35:07,560 --> 00:35:09,400 [tense music] 540 00:35:10,600 --> 00:35:12,360 Our revenue was Rs. 3.1 crores. 541 00:35:12,440 --> 00:35:14,280 We are 5% to 8% negative 542 00:35:14,360 --> 00:35:16,160 in the past few months. 543 00:35:16,240 --> 00:35:18,720 Is the manufacturing company profiting or it's in negative? 544 00:35:18,800 --> 00:35:21,600 The manufacturing company is profiting. 545 00:35:21,680 --> 00:35:25,600 First of all, your dual-structured company 546 00:35:25,760 --> 00:35:26,760 is non-investible. 547 00:35:26,840 --> 00:35:28,640 [tense music] 548 00:35:28,720 --> 00:35:32,640 In fact, you can run a profitable business at this scale too. 549 00:35:33,000 --> 00:35:34,080 If both of them were combined, 550 00:35:34,160 --> 00:35:37,680 the value of your business would be more. Instead of gaining 551 00:35:37,760 --> 00:35:40,160 with two companies, you are losing as they are separate businesses. 552 00:35:40,240 --> 00:35:41,720 [tense music] 553 00:35:41,800 --> 00:35:43,360 I have made my decision. 554 00:35:45,120 --> 00:35:48,120 Ayurveda has a segmentation. 555 00:35:48,200 --> 00:35:52,520 The masses choose between Dabur or Himalaya. 556 00:35:52,600 --> 00:35:55,480 Or they could choose between Kama and Forest Essentials for premium. 557 00:35:55,840 --> 00:35:58,280 And believers like me 558 00:35:58,360 --> 00:36:00,720 would use products made by trusted Ayurvedic practitioners 559 00:36:00,840 --> 00:36:03,960 and trusted spas. 560 00:36:04,040 --> 00:36:05,720 Your products 561 00:36:05,800 --> 00:36:08,240 aren't affordable, premium 562 00:36:08,320 --> 00:36:09,760 or somewhere in the middle. 563 00:36:11,160 --> 00:36:14,480 As Peyush said, it isn't investible 564 00:36:14,560 --> 00:36:16,840 from a structured perspective so I'm out. 565 00:36:18,960 --> 00:36:21,480 What's your revenue in the manufacturing company? 566 00:36:21,560 --> 00:36:24,480 - It's around Rs. 50 lakhs to Rs. 60 lakhs. - What's your profit? 567 00:36:24,560 --> 00:36:27,880 The profit is negligible. 568 00:36:27,960 --> 00:36:30,480 [dramatic music] 569 00:36:30,600 --> 00:36:34,120 Ashok, how are you managing your expenses if you are making a loss? 570 00:36:35,840 --> 00:36:40,320 I manage my expenses through the share market profits. 571 00:36:41,080 --> 00:36:44,360 I made long-term plans and invested in plots 572 00:36:44,440 --> 00:36:46,920 and houses so I earn rent. 573 00:36:47,000 --> 00:36:48,040 I manage it well. 574 00:36:48,160 --> 00:36:49,160 - Alright then. - Okay. 575 00:36:49,240 --> 00:36:51,360 - By God's grace... - I have nothing to do with their salaries. 576 00:36:51,440 --> 00:36:53,600 - We withdraw salaries. - Hang on. 577 00:36:53,680 --> 00:36:55,720 - Where are you withdrawing salaries - Onashi. 578 00:36:55,800 --> 00:36:57,400 How much is the salary? 579 00:36:57,480 --> 00:36:58,800 Rs. 50,000 until June 580 00:36:58,880 --> 00:37:01,880 - and Rs. 1 lakh in the last two mont - Have you raised funds? 581 00:37:02,160 --> 00:37:03,920 - No. - No, we have not. 582 00:37:04,240 --> 00:37:06,040 Alright, Gupta family. 583 00:37:07,280 --> 00:37:08,760 I do not think 584 00:37:09,200 --> 00:37:12,160 that I can make you a meaningful offer today. 585 00:37:14,120 --> 00:37:15,960 Your business is still facing losses. 586 00:37:16,040 --> 00:37:19,560 The business has stopped growing. So, I am out. 587 00:37:19,680 --> 00:37:21,960 [intense music playing] 588 00:37:22,040 --> 00:37:25,520 But I wish you only success. All the best. 589 00:37:25,680 --> 00:37:27,560 - Thank you. - Thanks. 590 00:37:28,000 --> 00:37:29,200 I have a few questions. 591 00:37:30,280 --> 00:37:32,720 This year's sales are Rs. 1 crore. 592 00:37:32,960 --> 00:37:35,000 Where are they coming from? 593 00:37:35,080 --> 00:37:36,720 From which country and which channel? 594 00:37:42,760 --> 00:37:45,240 How much did you spend on marketing for sales of Rs. 1 crore? 595 00:37:52,320 --> 00:37:53,440 There are so many players. 596 00:37:53,520 --> 00:37:57,120 My friend has three companies. The Ayurveda Experience, Ayurva... 597 00:37:57,240 --> 00:37:58,640 Everyone is entering this category. 598 00:37:58,960 --> 00:38:01,520 So many players. Don't you think it's a fight? 599 00:38:01,600 --> 00:38:03,120 I'll be honest with you. 600 00:38:04,440 --> 00:38:06,880 It's because you own the factory, 601 00:38:06,960 --> 00:38:09,040 - you make a profit in the supply. Correct? - Yes. 602 00:38:09,120 --> 00:38:11,680 Yet you are making a loss. Then how will it become profitable? 603 00:38:11,760 --> 00:38:14,160 [intense music playing] 604 00:38:14,240 --> 00:38:18,080 If you see the unit economics, we are profitable. 605 00:38:18,600 --> 00:38:23,440 We invested our revenue into making the app. 606 00:38:23,520 --> 00:38:25,240 We expanded into Amazon US. 607 00:38:25,320 --> 00:38:27,280 We had to invest in that too. 608 00:38:27,440 --> 00:38:29,000 We also had a new website. 609 00:38:29,080 --> 00:38:34,880 So, we have tried many things to strengthen our foundation further. 610 00:38:34,960 --> 00:38:36,480 [intense music playing] 611 00:38:36,600 --> 00:38:39,240 I think there's a lot to be done. 612 00:38:40,680 --> 00:38:43,240 I have seen many Ayurveda companies 613 00:38:43,320 --> 00:38:47,440 that develop issues after they scale a little. 614 00:38:47,840 --> 00:38:49,520 [intense music playing] 615 00:38:49,640 --> 00:38:53,040 So, for those two reasons, unfortunately, I am out. Sorry. 616 00:38:53,120 --> 00:38:55,120 - Okay. Thank you. - Yes. 617 00:38:57,160 --> 00:38:59,560 Firstly, the price point and the market, 618 00:38:59,640 --> 00:39:02,680 in my opinion, are estimated at Rs. 500 crores to 600 crores. 619 00:39:03,760 --> 00:39:07,320 Even just communicating that you're authentic and the others are fake, 620 00:39:07,440 --> 00:39:10,960 on Instagram and YouTube, is a tedious task. 621 00:39:12,320 --> 00:39:14,600 I think you're doing good. 622 00:39:14,720 --> 00:39:17,160 You should stay at it and try running it profitably. 623 00:39:17,280 --> 00:39:19,360 But as of now, at this scale, I am out. 624 00:39:19,560 --> 00:39:21,480 [intense music playing] 625 00:39:22,520 --> 00:39:24,280 Look, I had a high interest. 626 00:39:25,920 --> 00:39:28,400 You're adaptable, your product is unique 627 00:39:28,480 --> 00:39:29,840 and the brand is strong. 628 00:39:29,920 --> 00:39:32,720 You're an intelligent team that is ethical and possesses humility. 629 00:39:32,800 --> 00:39:35,120 [intense music playing] 630 00:39:35,200 --> 00:39:37,440 You should merge both companies. 631 00:39:37,520 --> 00:39:39,600 The numbers don't add up now. 632 00:39:39,800 --> 00:39:42,320 I would have been interested but I am out. 633 00:39:42,400 --> 00:39:44,840 [intense music playing] 634 00:39:46,040 --> 00:39:48,360 Only because I'm unable to do the math 635 00:39:48,440 --> 00:39:50,000 between retail and manufacturing. 636 00:39:50,120 --> 00:39:53,120 But I wish you the very best. Thank you. 637 00:39:53,200 --> 00:39:54,600 By the way... 638 00:39:55,000 --> 00:39:58,080 A loss of Rs. 25 to 50 lakhs is not a big deal. 639 00:39:58,160 --> 00:39:59,840 I have faith that we will cover it. 640 00:39:59,960 --> 00:40:01,800 - You're a generous man. - We will make up... 641 00:40:01,880 --> 00:40:04,320 What is life without ups and downs? 642 00:40:04,400 --> 00:40:05,840 Lovely! [laughs] 643 00:40:05,960 --> 00:40:07,520 No problem. The loss will be recovered. 644 00:40:07,600 --> 00:40:08,960 - Thank you, sir. - Thank you. Bye. 645 00:40:09,040 --> 00:40:11,680 [music plays] 646 00:40:49,160 --> 00:40:51,640 [theme music plays] 647 00:40:59,200 --> 00:41:01,120 [theme music continues] 648 00:41:12,160 --> 00:41:14,760 [theme music fades] 649 00:41:15,000 --> 00:41:15,920 - Hi, Sharks. - Hi. 650 00:41:16,000 --> 00:41:18,880 Let us transport you back to your childhood. 651 00:41:20,120 --> 00:41:22,400 A as in apple. 652 00:41:22,720 --> 00:41:24,880 M as in mango. 653 00:41:24,960 --> 00:41:27,080 T as in tamarind. 654 00:41:27,160 --> 00:41:29,920 But for kids to visualise all of this, 655 00:41:30,000 --> 00:41:32,840 educational books merely have 2D pictures. 656 00:41:33,680 --> 00:41:34,560 Just imagine, Sharks. 657 00:41:34,640 --> 00:41:36,960 If a child is able to view that 2D image from his book 658 00:41:37,040 --> 00:41:40,600 as a real-time 3D version of it, wouldn't it be great? 659 00:41:42,800 --> 00:41:44,200 Not only will the child be able to view it, 660 00:41:44,280 --> 00:41:45,960 but also be able to hear 661 00:41:46,040 --> 00:41:48,120 the correct pronunciation of the letters. 662 00:41:48,760 --> 00:41:50,440 Greetings, Sharks. I am Nikhil. 663 00:41:57,320 --> 00:41:59,320 HoloKitab is a technology company 664 00:42:05,280 --> 00:42:08,040 We started this venture as a book publisher. 665 00:42:12,120 --> 00:42:13,400 Our mission is 666 00:42:13,480 --> 00:42:16,280 to make AR for education as affordable as it can get 667 00:42:16,360 --> 00:42:19,200 so that this technology is accessible to all students. 668 00:42:19,320 --> 00:42:22,280 Our ask for our mission is your expertise 669 00:42:29,360 --> 00:42:32,720 AR as a field is highly interesting. 670 00:42:32,880 --> 00:42:34,080 What was your trigger point? 671 00:42:34,160 --> 00:42:36,320 What made you consider this business? 672 00:42:36,440 --> 00:42:39,880 The idea of AR and VR dawned upon us in college in the year 2017. 673 00:42:51,120 --> 00:42:54,840 We realised that mobile phones were an affordable option for AR 674 00:42:54,920 --> 00:42:56,200 through which we could provide our services. 675 00:42:56,280 --> 00:42:57,760 When did you start this business? 676 00:43:03,480 --> 00:43:06,800 which includes textbook publishers and educational toy manufacturers. 677 00:43:07,320 --> 00:43:11,840 Many publishers wish to embed AR into their products. 678 00:43:12,040 --> 00:43:14,400 But they want a full-time tech partner 679 00:43:14,480 --> 00:43:17,400 because the technology is a little complex as well as costly. 680 00:43:17,720 --> 00:43:20,160 So, we charge them per unit. 681 00:43:20,240 --> 00:43:21,720 It has a lot of scope. 682 00:43:21,800 --> 00:43:24,200 You can create many categories for some of the products. 683 00:43:25,520 --> 00:43:27,720 We will understand better if we can look at the books. 684 00:43:27,800 --> 00:43:30,560 As you can see, this is our Hindi book. 685 00:43:30,640 --> 00:43:32,400 - It's quite small... - Let me come there 686 00:43:32,520 --> 00:43:33,640 - and understand. - Please. 687 00:43:35,880 --> 00:43:38,120 First of all, we'll select the book section. 688 00:43:38,400 --> 00:43:40,560 Then choose the Hindi Varnamala. 689 00:43:42,240 --> 00:43:45,440 - 'S as in sage.' - Okay, this is... 690 00:43:45,520 --> 00:43:47,240 - Play it. Yes. - You can move this. 691 00:43:47,320 --> 00:43:49,080 - This... - 'Sage.' 692 00:43:50,520 --> 00:43:52,560 - You can flip the page. - 'Sage.' 693 00:43:53,960 --> 00:43:54,720 Wonderful. 694 00:43:54,800 --> 00:43:57,120 'L as in lady.' 695 00:43:57,760 --> 00:44:00,840 - 'G as in grapes.' - Hey. 696 00:44:01,240 --> 00:44:04,480 - It's great. I understand your business now. - Thank you. 697 00:44:04,600 --> 00:44:06,640 [music plays] 698 00:44:08,360 --> 00:44:10,120 - AR as a service... - It's a service. 699 00:44:17,160 --> 00:44:18,800 As this is a service, 700 00:44:18,880 --> 00:44:21,320 we basically link it to our app. 701 00:44:21,400 --> 00:44:22,480 We don't outsource it. 702 00:44:22,560 --> 00:44:25,200 It's not like we make their app and forget about it. 703 00:44:25,320 --> 00:44:26,480 This globe for instance... 704 00:44:26,560 --> 00:44:29,320 It's a partnership with a Delhi-based company. 705 00:44:29,400 --> 00:44:31,520 The globe is also embedded in our app. 706 00:44:32,360 --> 00:44:34,480 Let me explain the affordability component to you. 707 00:44:34,560 --> 00:44:37,760 One of our competitors provides a similar kind of globe. 708 00:44:37,960 --> 00:44:39,960 Its MRP is Rs. 2000. 709 00:44:40,040 --> 00:44:41,840 We follow a service-based model. 710 00:44:48,840 --> 00:44:51,800 that it will take to build or maintain this. 711 00:44:51,880 --> 00:44:52,840 We handle that bit. 712 00:45:02,120 --> 00:45:03,000 No, sir. 713 00:45:03,080 --> 00:45:05,280 We started our service-based model 714 00:45:05,360 --> 00:45:07,440 just two months ago. 715 00:45:07,520 --> 00:45:10,200 We acquired our first contract for these globes. 716 00:45:10,920 --> 00:45:12,640 Tell us your sales for FY 22. 717 00:45:12,760 --> 00:45:16,040 During the period December 2020 to 31 March 2021, 718 00:45:16,120 --> 00:45:18,040 we had only launched book publishing. 719 00:45:18,160 --> 00:45:20,080 We had only one book of the alphabets back then. 720 00:45:40,160 --> 00:45:41,440 Erm... Yes, you could say that. 721 00:45:41,520 --> 00:45:43,560 What is the contract value of this service model? 722 00:45:43,640 --> 00:45:46,000 - This new deal in Delhi... - Yes. 723 00:45:46,080 --> 00:45:48,080 What is its value and over what time? 724 00:45:57,360 --> 00:45:59,320 - Sir... - You'll only get Rs. 100. 725 00:45:59,440 --> 00:46:02,960 - Yes. We're getting Rs 4 to 5 lakhs per year per product. - Hmm. 726 00:46:03,360 --> 00:46:04,880 - I got it. - So, it depends 727 00:46:05,040 --> 00:46:07,360 on how many products we can add over a year or two. 728 00:46:07,640 --> 00:46:09,080 [intense music playing] 729 00:46:09,160 --> 00:46:13,200 Our cost of making will be recovered within a year. 730 00:46:13,320 --> 00:46:15,560 We'll only have a maintenance cost next year 731 00:46:15,640 --> 00:46:17,360 and we can enjoy good margins. 732 00:46:24,840 --> 00:46:26,840 How much will it sell for along with 3D? 733 00:46:26,920 --> 00:46:28,440 [intense music playing] 734 00:46:28,520 --> 00:46:31,120 We charge 10% less from the manufacturers 735 00:46:39,000 --> 00:46:43,600 But, boss, pricing power and margins will always be under pressure. 736 00:46:44,560 --> 00:46:46,880 I invested in a company 737 00:46:46,960 --> 00:46:50,480 where the contract was renewed every year 738 00:46:50,560 --> 00:46:52,240 but their margin kept reducing. 739 00:46:52,320 --> 00:46:54,120 [suspenseful music] 740 00:47:00,720 --> 00:47:03,120 Gradually, they'll get VR capabilities too 741 00:47:03,200 --> 00:47:05,560 by hiring a few people who will make content for them. 742 00:47:05,680 --> 00:47:07,040 They are professionals. 743 00:47:07,120 --> 00:47:09,080 Your margins will be under pressure 744 00:47:09,200 --> 00:47:11,920 because you are a service provider. How will you solve that? 745 00:47:12,000 --> 00:47:13,480 [sweeping music] 746 00:47:13,560 --> 00:47:17,160 Sir, I told you earlier that our vision isn't limited to B2B. 747 00:47:17,240 --> 00:47:19,960 We want to build a brand name in the student community. 748 00:47:21,520 --> 00:47:25,320 Your consumer is a kid and you want them 749 00:47:25,400 --> 00:47:27,280 to use HoloKitab in a certain way but that's wrong. 750 00:47:27,360 --> 00:47:28,800 It'd never happen. 751 00:47:30,160 --> 00:47:33,560 A person buys a book because of its appearance. 752 00:47:33,640 --> 00:47:35,480 And kids don't even know what they are reading. 753 00:47:35,560 --> 00:47:37,960 They just like the activity. 754 00:47:38,040 --> 00:47:40,960 I think it's wrong to try to make HoloKitab a brand 755 00:47:41,040 --> 00:47:42,560 because it's a B2C segment. 756 00:47:52,840 --> 00:47:54,920 There are two things. Firstly, it's at an early stage. 757 00:47:55,000 --> 00:47:56,360 [dramatic music] 758 00:47:56,480 --> 00:47:58,000 Secondly, there's nothing defensible. 759 00:48:04,280 --> 00:48:07,040 I don't think it needs investment for now, so I'm out. 760 00:48:08,680 --> 00:48:10,720 I made my decision too. 761 00:48:18,360 --> 00:48:20,600 and relationship building too. 762 00:48:51,320 --> 00:48:53,720 - All the best, guys. - I'm the only one left now. 763 00:48:55,000 --> 00:48:56,600 I would like to give you an offer. 764 00:48:59,120 --> 00:49:01,720 My offer is conditional 765 00:49:02,520 --> 00:49:04,080 and you may answer yes or no. 766 00:49:04,160 --> 00:49:07,200 [suspenseful music] 767 00:49:07,280 --> 00:49:09,960 Number one, not just the education sector, 768 00:49:30,560 --> 00:49:31,640 we pivoted. 769 00:49:34,000 --> 00:49:35,640 I'll give you an offer. 770 00:49:37,000 --> 00:49:39,200 Rs. 45 lakhs 771 00:49:49,440 --> 00:49:52,960 - Okay. - I'll have to give you strategic input 772 00:49:53,600 --> 00:49:56,000 and business through my contacts. 773 00:49:56,080 --> 00:49:58,760 It'd require a lot of time so I think it's fair. 774 00:49:58,840 --> 00:50:01,280 [epic music] 775 00:50:02,720 --> 00:50:04,520 Thank you for the offer. 776 00:50:11,640 --> 00:50:14,040 When a patient goes to a doctor, 777 00:50:14,120 --> 00:50:15,520 the patient is clueless. 778 00:50:15,640 --> 00:50:18,840 So the doctors can use this technology and show the heart, 779 00:50:18,920 --> 00:50:21,200 ovaries and uterus to them 780 00:50:21,320 --> 00:50:24,960 and educate the patients in an interesting manner. 781 00:50:25,040 --> 00:50:28,440 If your mission is education, I'm the best partner. 782 00:50:29,720 --> 00:50:33,560 You don't have bargaining power so just say yes! 783 00:52:01,200 --> 00:52:03,440 'Anupam, in today's Shark Xperience segment, ' 784 00:52:03,520 --> 00:52:06,320 'Raj from Prayagraj has a question for you.' 785 00:52:06,440 --> 00:52:09,960 'Even though your dad had a successful business, ' 786 00:52:10,040 --> 00:52:13,200 'you decided to start another business. Why so?' 787 00:52:13,320 --> 00:52:15,520 We belonged to a middle-class family. 788 00:52:15,600 --> 00:52:18,760 My dad used to do a job 789 00:52:18,840 --> 00:52:20,800 and he had barely started his business. 790 00:52:21,720 --> 00:52:23,880 I witnessed first-hand 791 00:52:54,840 --> 00:52:57,320 to start my own business 792 00:52:57,400 --> 00:52:58,760 and that's how everything started.