'Upcoming pitches on Shark Tank India season 2'
'this week...'
'We are presenting WTF'
'to enhance your dining experience.'
'It doesn't mean what you are thinking.'
[laughing]
'We are presenting NutriCook. Oil-less and water-less cookware.'
'Vegetables are delicious!'
'Yes. Fresh and delicious.'
'- How did you boil the vegetables? No water? - No water, sir.'
'Hi, Sharks! During the pandemic, 126 franchises'
'of LONDON BUBBLE CO. shut down.'
'We got an idea the very next day.'
'We brought our cafe to your home.'
'Some of my best memories are associated with your waffle.'
'Negotiate the valuation with her.'
[laughing]
'Greetings, Sharks! We make ice-cream premix powders for dogs.'
'It can't be for Rs. 200.'
'Yes, it costs Rs. 199.'
'It's too expensive.'
'You mean people buy ice-creams costing Rs. 200 for their pets.'
'What will be the market size in terms of revenue in five years?'
'A revenue of 500 to 600 million dollars will be made.'
'Will your business grow to Rs. 4000 crores in five years?'
'Please get a reality check.'
'There's no clarity. You are making wild guesses.'
[epic music]
[ethereal music]
Hello, Sharks! How are you?
We, brothers, are from Himatnagar, Gujarat.
Sharks, as we belong to a Gujarati family,
we have observed two things since our childhood.
First is love for food
and the second is trade.
[laughing]
We observed
India has fewer snacking options compared to foreign countries.
- Yes. - So we decided to present a new snacking option to Indians.
We stumbled upon an idea when we realised
that the indigenous girlfriend of Gujaratis is snacks
and their foreign girlfriend is Mexican food.
[laughing]
We combined the two
and launched Mexico's famous snack nachos in India
in the form of a brand new snacking option for Indians, MAKINO.
[joyful music]
MAKINO is a brand that takes care of your taste as well as your health.
MAKINO NACHOS are healthy
as they contain 40% less oil
[inspirational music]
Our nachos are available in eight exciting flavours
like cheese, jalapeno and peri-peri.
[motivational music]
Sharks, MAKINOS makes nachos
as well as corn chips, corn twist and roasted nuts too.
Sharks, our vision is to ensure MAKINO snacks' availability
in every Indian home.
We aim to be India's top brand in the Mexican snacks category.
[sweeping music]
Our ask is
[ethereal music]
- Yum! - Thank you!
[ethereal music]
Delicious.
Different types of packets are placed there. What are those?
Actually, we make four types of products.
- Are you the CEO? - Yes!
The other three also do something or they just agree with you.
- Sir, of course, they do. - What do they do?
- Sir, I look after e-commerce and branding. - Okay.
I look after modern trade and HORECA.
I handle procurement, production and logistics.
Wow! All of you are handling different departments.
Sharks, my responsibilities are general trade,
exports and overall services.
- Nachos are already available in the market. - No, sir!
- There is a brand called Doritos. - Doritos and Cornitos.
Sir, they are present but they comprise only a small fraction.
on buying nachos
and the remaining Rs. 55 are spent on buying potato chips.
What's the market size of potato chips in India?
Sharks, foxnut came into the market after our launch.
- MAKINO means Make In Original Style. - Oh, my!
Sir, we believe
that only three companies in India sell nachos specifically.
First is Doritos.
It started in the US in the 1960s.
It's the world leader.
The second one is Cornitos.
Cornitos is a 12 to 13 years old brand.
We'll complete four years in October.
- So you are the third. - Yes.
What are the sales figures for Doritos?
It's more than Rs. 100 crores.
What about Cornitos?
Its sales are around Rs. 65 crores.
What's the price of your packet and that of Doritos?
Doritos sell some packets costing Rs. 50 to Rs. 60.
They have products costing Rs. 90.
This one costs Rs. 90.
It's 150 grams for Rs. 90.
What's the cost of a similar product by Doritos?
Sir, it costs around Rs. 90.
What's your main characteristic? Your brand isn't famous.
[suspenseful music]
Doritos have just two flavours but we have eight flavours.
We launched a series called SUPER NACHOS
around one to one and a half months ago.
If you consume a packet of 60 grams,
you'd get 16% protein.
In Veggie Nachos, we mixed corn with fenugreek.
Such fusion has never been done before to make nachos.
[sweeping music]
You four give me a feeling you'd share impressive sales figures.
How much is it? Do you sell for Rs. 2 crores to Rs. 3 crores per month?
We made sales of Rs. 12 crores between April and 31 August.
and other such claims.
Unbelievable!
In the coming few months, our target
is to reach Rs. 3.25 crores per month.
It's going to be fun.
Our sales till 31 March 2022 were
Sharks, we have reached breakeven.
You broke even in August too?
Obviously, sir.
What's your export in Rs. 2 crores sales?
Suppose we earn Rs. 2.65 crores.
10% of it is the average export sales in the last few months.
Is it for the Middle East? The inscription is in Arabic.
Our focus is the GCC countries
and African countries too.
The reason is they are nearer
and our transport cost is less compared to other countries.
[sweeping music]
Why aren't you making a profit?
Right now our monthly production capacity
is 250 metric tons of nachos.
We could achieve only 40% of our capacity.
We can't earn a profit in the current scenario.
[suspenseful music]
Ultimately, as we set up
the general trade distribution, sales team incurs costs.
That's the reason we spend mostly on setting up distribution channels
or on the sales team.
Your storytelling skills are good. How much funds did you raise?
We haven't been funded.
- Are you bootstrapped? - Sir, we are bootstrapped.
You set up a business worth Rs. 36 crores
or Rs. 35 crores or whatever.
You set up a business earning a certain monthly revenue run rate
without raising funds.
So you must be capable enough to make it a Rs. 100 crore business.
Capability isn't enough.
We get stuck at certain points.
we feel it's going too slow.
The second is branding. How to grow our brand?
We make some mistakes
and when we try to make amends, we waste a lot of time.
- Did you study the consumption pattern? - Yes, we did.
Did you observe something?
How much do children purchase?
Let's assume that your sales are around Rs. 2.5 crores.
What's the contribution to sales done by children?
[sweeping music]
The contribution of children is less
- but we aren't sure about the exact percentage. - Alright.
What's the product margin in Rs. 2.5 crores?
It's around 10% to 12%.
I liked everything about you
but I have a philosophical problem.
Generally speaking,
I don't invest in businesses
where claims regarding health benefits are made
and they are addictive for children.
That's the reason, I asked you a question regarding children.
You don't possess such data.
And philosophically, I have a problem with such businesses.
[adventurous music]
I wish you all the best but I want to be out.
- Thank you, sir. - Thank you!
I have made my decision.
I invested in a company called TagZ in season 1.
I'm involved in their business closely.
I think there could be a conflict of interest.
- For that reason, I'm out. - Thank you!
All of you must have invested in the business.
You must have invested when you started. Who invested in it and how?
[sweeping music]
Initially, we took a loan from a bank.
As of now, our bank loan is Rs. 15.33 crores.
Huh?
What?
How much did you borrow?
We took a loan of Rs. 25 crores from the bank.
Now it has reduced to Rs. 15.33 crores.
- What is your bank balance? - Rs. 1.5 crores.
Did you spend all the money on your factory or on marketing?
The machinery of nachos is manufactured in the US and Europe.
So the capital investment is more.
It's an entry barrier too as nobody can easily start this business.
Our capital investment is Rs. 12.33 crores.
What is your monthly burn rate?
Last year's loss was Rs. 1.97 crores.
If we add the loss of two months, it's around Rs. 30 lakhs.
I made my decision.
[sweeping music]
I think you have expanded your business in multiple countries.
First, cover this market.
Secondly, I don't want to discuss your valuation.
I could have been lenient if you gave a logical valuation.
So for all these reasons, I'm out.
[tense music]
- Are you present on Swiggy Instamart? - Yes!
What is your rating?
Let's discuss this.
[sweeping music]
Let me tell you what we feel. Your sales are for Rs. 25 crores.
Let's double the revenue as you aren't profitable, so Rs. 50 crores.
Your debt is Rs. 13 crores.
Right? And the net cash will be subtracted.
So we can give you a valuation of around Rs. 37 crores.
[sweeping music]
- We have invested more than Rs. 42 crores till now. - What?
[thrilling music]
Hold on! Earlier, you said Rs. 15 crores. Then how come Rs. 42 crores?
Rs. 15 crore is the bank loan.
- And the rest is yours? - The rest of the money is ours.
- Oh my God! - Oh my God!
[laughing]
[dramatic music]
Where did you spend Rs. 42 crores?
We spent majorly on salaries and other such things.
And capital investment too. These two incur major expenses.
[dramatic music]
Please tell us how much cash you withdrew.
We didn't withdraw cash.
Will you continue burning cash the way you burned it till now?
- No. - Will your business profit this year?
Yes, but we'd get a nominal profit.
I don't think so.
- You don't want to make an offer. Cancelled? - Yes.
I think we can't give you an offer today.
I'm really sorry for making you hopeful but...
Anyway, we couldn't give you a better valuation than Rs. 50 crores.
[sweeping music]
So we... But you'd make a successful business and best of luck.
Vineeta and I are out.
- Good job, guys! Keep the spirit up! - Good job!
- Thank you so much! - Thank you, Sharks!
All the best!
[sweeping music]
[bubbling]
- Good morning, Sharks! - Morning!
I'm Agragesh.
have around 2 lakh patients in India.
And their number increases by 40,000 per year.
[suspenseful music]
Organ transplant
is a painful and traumatic experience.
And unfortunately, their pain
continues even after the transplant.
[dramatic music]
After the organ transplant, the patients need
continuous monitoring of the new organ
We built a revolutionary platform
and monitoring them easily too.
[exhilarating music]
It helps in organ transplant monitoring
We have tested more than 5,000 samples till now.
Our vision is to impact the lives of more than 1 billion patients
with the help of Trunome
by improving their quality of life and saving them from the emotional,
physical and mental trauma of invasive tests.
[exhilarating music]
Agragesh and Avinash, welcome to Shark Tank!
- Thank you! - Where are you from in Chennai exactly?
How come you speak fluent Hindi?
- Anna Salai. - Okay!
We have been raised across India
- so I know Hindi, Bengali and a few other languages too. - Amazing!
- He is my elder brother. - Okay.
Do you understand Tamil?
- We do! - Yes!
- It's our mother tongue. - Okay!
- I studied engineering in Chennai for four years. - Okay.
- Fake engineer! - Fake engineer!
[laughing]
Please explain this to me in simple language.
I don't understand your business.
As of now, our technology
helps a patient detect conclusively
through a simple blood test whether an organ
is getting rejected or not by their body.
Why are talking about cancer recurrence?
- Is it another application? - It's a different application.
It's a different application of the same technology.
So you are doing blood diagnosis
and DNA diagnosis
through two applications.
One is organ transplant monitoring
and the other one is the recurrence of cancer.
- Correct! - Yes!
Which one of your applications got the US patent?
- Transplant application. - Transplant rejection!
What organ transplants does it work for?
- Any organ. - Any organ!
If we don't use your way,
what is the alternate way to monitor?
An alternate way is a biopsy.
During a biopsy, tissue
is ripped off by puncturing the kidney.
Then it's checked under a microscope if it's getting rejected or not.
Did nobody research this till now?
There's surely a global technology but the approach is different.
That's the reason, we got a patent.
are around 3 to 5 times more.
How much is it?
How much do you charge as compared to your competitors?
The cost of people
like nurse's charge is more in the US.
So it's like outsourcing.
But inherently, in technology...
There's a difference in technology too.
The number of SNPs which is a set of chemicals
is required in a lesser amount.
The number of overall molecular compositions is required less.
Our your claims fully validated
or they are shaky?
Three world-renowned doctors are shareholders in our company.
And we have even been awarded
by different people in the government.
We launched a Covid test during Covid.
We got CDSCO approval for the same.
Our facility is cleared by Indian FDA which is CDSCO.
with five leading US transplant centres
and medical centres.
You have signed paperwork or you are having a verbal conversation.
[suspenseful music]
- We had a verbal conversation as of now. - So nothing is signed.
- It's done in India. - Some hospitals signed in India.
How many hospitals?
We have a contract with around six hospitals.
I'm a clinical dentist
and he is an MBA graduate.
He handles the business part.
- That's the reason he speaks more. MBA grads speak a lot. - Yes.
[laughing]
What are your ages respectively?
I'm 36 years old.
He is around 28 to 29 years of age.
Amazing, my friend.
- Who is the CEO of the company? - I am.
What is your scientific background?
I completed my PhD.
Why didn't you tell us earlier that you are a PhD? You must be proud.
Actually, I don't introduce myself as a doctor
because people mistake me for a medical doctor.
In what subject did you complete your thesis?
In Molecular Biology.
Where did you complete your PhD? Please tell us.
I pursued it from IMT, Ghaziabad.
Hey!
No... You are an MBA graduate. PhD from IMT...
[laughing]
- He is marketing himself. - Don't be like this.
MBA graduates come here often but PhDs rarely come.
A PhD is rare.
Avinash, please look at me.
Okay, yes.
Avinash stared him down.
"Calm down!"
Actually, the degree is awarded by Anna University
but I did a collaborative project between IIT and Anna University.
Avinash, your eyes are expressive.
[ethereal music]
Thank you!
And you are too humble.
- That's true. - Too humble!
No, your valuation isn't humble.
[tense music]
It's huge.
So I want to know the basis of your valuation.
[suspenseful music]
A combination of things. Last year, our revenue reached more than Rs. 5 c
So it wasn't achieved for your core business.
I could be wrong.
It's fifty-fifty. Rs. 2.5 crores from Trunome.
Then on what basis did you ask for a valuation of Rs. 150 crores?
[dramatic music]
Our valuation for the last round was 75 crores.
What's your vision?
What do you wish to do in the next five years?
We want to build a platform
so that we can early diagnose and monitor chronic conditions.
We want to impact more lives.
That's the primary vision.
- Do you earn money? - Yes.
About 1 lakh EBITDA on average per month.
How many people are there on the product team?
All of them are in Chennai.
Some of them have done a PhD and Postdoc from Tel Aviv University.
There are people from Madras University.
The University of Pennsylvania.
Okay, I'll make you an offer.
[music playing]
There is something good about you guys.
You didn't even tell me that you hold a PhD.
I think you're very humble.
Since you're making efforts in India and have built a great team,
I will offer you 1.5 crores for 2%.
[music playing]
will be around 25-30 billion dollars. That's the market opportunity.
25-30 billion?
- In global standards. - Okay.
We estimate at least
500-600 million dollars in revenue.
Will you build a 4000-crore business in five years?
The technology is at that stage.
[music playing]
You can increase the price and raise the EBITDA, right?
- Yes, we can. - Why don't you raise it?
We have a conscience that if we financially pressurise
- the patients so much... - Very nice!
- Very nice. - Awesome!
Have you watched 'Godfather'?
- Yes. - A long time ago, sir.
I'll make you an offer you cannot refuse.
Oh!
I'm your senior from IIT Madras. The batch of 2005.
[laughs]
Alumni angle.
Alumni angle. I will make you an offer.
75 lakhs in debt, interest-free.
There's one application covered.
It has a US patent. Organ transplant.
We're aware
that there's not much potential in India for organ transplants.
The level of awareness of organ donation,
the increase in TAM is long-term.
There's a saying that
if your product was so good
then it would cut through butter like a hot knife.
[music playing]
There would've been orders lined up for you.
- Then they wouldn't be here. - One moment. Let me finish.
I was willing to take a bet on you but my problem
is that you've crossed 2.5 crore revenue
and hardly 5 hospitals have signed up.
And you're talking about 30 billion TAM.
4000 crores revenue in five years.
There is no clarity. It's a vague projection.
For me, it's very early.
But I wish you the best. I'm out.
Namita is out.
[music playing]
You have three offers.
And Aman, have you decided or do you have any questions?
Agragesh feels like a reflection of me.
I'm as humble as he is.
It's a pleasure to meet you.
That's Avinash.
Sorry, to meet Avinash.
No, Agragesh. You're MBA brothers.
Get his name right.
Do you want an equity or debt?
A combination is fine but equity is more welcome.
The next question is will you take my offer or not?
[laughs]
1.75% if all of you can come together.
That will also be great!
- Then, we will need 2%. - Yes, 2%.
Yes.
1.5 crores for 2%.
We will require more capital in the future.
[music playing]
We can't make that decision now.
You will get the four of us.
1.5 crores, four sharks, for 2%.
This is our only offer. We have nothing else on the table.
[music playing]
- Hope you'll be very happy. - I'll be the happiest.
[music playing]
- Thank you. - All the best!
- Thank you! - Make India proud.
- Definitely. - Well done!
- Thank you, sir. - Thank you, ma'am.
[music playing]
Greetings, Shark! I'm Saloni Chandalia.
You won't get 1.5 crores at 1% here.
So, 3D print it.
- Wait. Rahul, Swati is your sister. - Yes, correct.
- And Pradeep is your... - Brother-in-law. She's my wife.
- So, you're his brother-in-law. - Yes.
Okay, tell me more.
In 2016, we attended an exhibition
where we saw an industrial 3D printer.
It's very expensive and ranges between 7 and 10 lakhs.
That's when it struck us that it can be
made available for the common man in India.
It creates many avenues of opportunity.
It seemed like magic to us.
It can create anything from a horse to a car.
Can you 3D print Aman's cool hairstyle?
- [laughs] - Really?
We have created a few 3D printed models.
It looks just like Aman.
We have copied his hairstyle too.
And also, some surprise for all of you.
- Lovely, show it to us. - Wow!
[music playing]
- Oh, wow! - Wow!
Very nice.
[music playing]
Lovely.
It's very cool.
Very nice.
Thank you very much for the presents.
Thank you so much.
3D printing has been around for more than ten years.
It's used by us in manufacturing.
We make all prototypes with 3D printers.
[thrilling music]
The printing you are talking about happens at the industrial level.
Those printers cost around Rs. 30 lakhs to Rs. 40 lakhs.
They are used by top industries and big corporates only.
Our product is designed
to be used by students and small or medium enterprises.
Those who start innovation at the grassroots level.
What is your business model exactly?
[suspenseful music]
We are making an ecosystem of 3D printing.
This is very unique.
We made 3D printers and now
we are making 3D pens at the back end.
The 3D pen is a concept
for children above the age group of six years.
Children may draw anything
using our products.
The 3D pens have 12 varieties.
We also started manufacturing filament
during the lockdown.
People assume that the final product can't be made through 3D printing
but we are launching the final product
like this lamp shade. It's the final product for retail stores.
3D printing includes
prototyping and the final product.
It's India's first experience centre fully based on solar panels.
- Wow! - No carbon footprint.
- Wow! - Wow!
[exhilarating music]
Basically, it's to showcase the future of technology.
The wall is 3D printed in different parts and assembled.
Anyone can come here and experience it
and it works for customer acquisition too.
- It's fascinating, right? - Yes!
[thrilling music]
There are different models of 3D printers
ranging between Rs. 14,000 to Rs. 4 lakhs.
It costs Rs. 25,000. It prints exactly the same.
- We'll have to take a closer look. - Please come here.
Are you printing something in it?
Yes. I'll show you live printing.
What are you printing right now?
- Right now we are making a vase. - He's printing a vase.
What kind of pen are you using?
Please tell us how to use it.
- It'll go inside. - So the filament will go inside.
Sir, look. Now the material is coming out.
[thrilling music]
It solidifies within a second.
Suppose I want to make a bicycle.
[thrilling music]
Look at the wheel.
This wheel will last a long time.
Very good! Let's talk about business.
- Excellent! Thank you very much! - Amazing!
- Great job! - It's very interesting.
I have a question because I know this industry.
My brother was the India Country Manager of HP.
Back then a printer's cost was Rs. 15,000.
He did something during his tenure.
He reduced the price of the printer to Rs. 3,000
and made the cartridge costlier.
People bought the printers by the dozen
and the business grew.
I think your main business isn't the printer but the reel.
Our main business is 3D filaments and 3D pens.
The printer is for increasing the ecosystem.
How many companies make filament in India?
Only a few limited players make filament in India.
Please share your sales figures so that we get a better understanding.
You asked for a heavy valuation of Rs. 150 crores.
What is your revenue for FY 22?
Our revenue in 2022 was Rs. 19.6 crores.
Our target is Rs. 28 crores to Rs. 30 crores.
Last year, our gross profit percentage was around 30%.
We expect our net profit to be around 20% this year.
Where will you focus
out of the three revenue streams?
[dramatic music]
Our focus is to increase the volume of printers
and increase the production of filament in the back end.
- You were printing a product. Can we see it if it's done? - Yes!
[thrilling music]
Wow!
It can be sold at a shop. Right?
- Very nice. - It's good.
The thing is, such products...
I won't buy such a product.
The finish of the 3D products
can't be compared to the finish of moulded products.
It lacks quality.
So the main business is sampling.
How many printers have you sold for commercial use?
And how much filament do they buy?
Who bought them? Please give an example.
For example, we sold to Ola for manufacturing OLA bikes.
We sold 12 big machines.
They readied the bikes and then launched them in the retail market.
Who else did you sell for sampling?
We sold to Samsung for sampling.
DRDO and ISRO are using our machines.
Their filament consumption must be huge.
[suspenseful music]
Yes. Their filament requirement is recurring
but they don't make a prototype daily.
If they make a prototype once a month, they order 5 filaments.
Your team managed to reach here
and built a business of Rs. 20 crores in 3D printing.
[ethereal music]
It's an amazing feat.
It's an example of the Indian entrepreneurial spirit.
Really proud of you guys.
- Thank you! - Thank you!
But it isn't yet clear where this road leads to.
[suspenseful music]
For this reason, I want to be out.
- Good luck! All the best. - Thank you!
There are frequent changes in such technologies.
I think it's a business which requires a long-term vision.
[tense music]
And there is a risk of technology changes.
So I can't partner with you right now.
- But best of luck! - Thank you so much!
Let me share the problem I have.
You are all over.
You need to focus on category creation.
As founders, we aren't confident if you can do that or not.
And for that reason, I'm out but I hope you prove me wrong.
Thank you so much.
What will you do with 1.5 crores?
[music playing]
We have marketing expense and we want
to upscale our manufacturing unit.
How will you do it?
Within the next six months,
we plan to do a lot of celebrity tie-ups.
To launch the brand for the retail.
What brand?
Like Itouch, our 3D pen, we tied up with many mom bloggers.
- This pen. - Yes, the pen.
- You want to make a brand out of it. - Yes, sir.
[music playing]
I think the 3D pen is a vast category.
- Isn't it? - We can make it big.
[music playing]
I'm not interested. I think it will be disrupted eventually.
Right? Hamleys will copy it.
Why would someone want to buy your pen then?
I think filament is the main business.
[music playing]
But, I find it to be a massive business.
You go to boAt, Lenskart,
electronics, cutlery,
all of them sample a lot.
Go to schools and give them printers.
Give them the printers even if they're on EMI.
But, they want to use filament.
You make the filament and categories that you're not able to cover
create a filament for that too.
Get into the core of filament.
So that when your printer is setup here,
it will be difficult for anybody to replace it.
Aman, what is your decision?
We are not in the same boat.
[music playing]
You should be confident about yourself.
Right? Yourself and your brand.
- Right. - Yes.
Don't worry about the competition.
[music playing]
Fear kills.
[music playing]
No, it's not fear. You choose. I'll make an offer.
But I want to be sure that you want to choose.
Do you want Aman or Peyush?
[music playing]
- We want both. - Can't we have both?
You can't go in two different directions.
[music playing]
Every 3D pen that's sold,
the 3D filament is the raw material of it.
- I know. - Both businesses will run.
Okay, listen. They have answered that they want both.
Aman, make your offer.
I was waiting for him to go first.
[laughs]
Don't keep pushing the ball. Someone do it!
- Okay, I'll make an offer. - Good.
But, I need 5 minutes because I don't have a calculator.
- [laughs] - I'll help you. Tell me.
Unfortunately, I'm out.
[music playing]
I...
don't think you were decisive, so I'm out. Aman is making an offer.
You won't be at a loss.
[music playing]
Okay? I wish you the best.
I think your valuation should not be more than 40 crores.
[music playing]
I think I'm being generous.
I'll offer you 80 lakhs. 40 lakhs for 2%.
- Okay. - The remaining 70 lakhs
Okay, you can step out quickly and come back.
[music playing]
Did you make a decision?
Uh, can we make a counteroffer?
[music playing]
Yes, it's your right.
To be honest, 80 crores... Valuation is not the only factor.
It's just 2%, not more.
But 2 is the lowest for me. I should've asked for 3%.
[music playing]
Tell us your decision.
It's a generous offer, if you ask me.
[music playing]
We agree.
- Welcome to WOL. - Welcome to the world of 3D.
Congratulations!
Thank you so much, Sharks.
- Thank you. - Thank you so much.
- But 3D printing for kids. - Yes, for kids.
[music playing]
Greetings, Sharks!
Do you know 50% of Indians
Everybody is suffering from the same.
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An even more shocking fact
is that 82% of Indians are under stress.
If you need long hair, it's biotin.
Eat three eggs every day for it.
For bright skin, you need vitamin C.
You need a cup of orange juice every day.
If you are deficient in vitamin E, eat almonds every day.
And the list goes on.
Not being able to do it,
we don't get proper nutrition.
That causes many deficiencies.
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We've brought
a gummy that will erase all your worries.
- [laughs] - All you have to do is just tear
pop, and chew.
One What's Up Wellness gummy
helps fulfil your nutritional needs.
That too, in 20 seconds.
[music playing]
We have sold our What's Up Wellness beauty gummies
to more than 25,000 customers.
Wow!
Our product is available on our website,
So, Sharks, we're here to ask for your help.
Sharks, we're asking you for
[laughs]
Vaibhav and Sayantani.
Welcome to Shark Tank.
Thank you.
Tell me something. How did you meet?
It's such a cluttered category.
Every second person is doing a beauty product.
How did you decide to do this business together?
Give me some history.
We met at our workplace, The Man Company.
- Okay. - Oh.
My job role was growth, marketing, and website product management.
I used to also strategize partnerships with other brands.
- Okay. - A brand website business.
Sayantani used to strategize content,
social and brand communication.
I learnt a lot in two years at The Man Company.
And around the same time, we moved to Grofers.
Okay.
When we moved to Grofers,
we were selling at 30-40% less than the market rate.
I noticed that people earning around 25-30K per month,
are buying 2-3 hair products
and 2 products for the skin. It is the same aspiration.
But these people weren't satisfied.
- Okay. - We researched and noticed that
90% of the problems that we face in life
can be solved with proper nutrition.
I have faced problems too. I used to sleep at 4 AM.
I noticed that there are supplements,
you can pop it 30 minutes before sleeping
and it is non-habit forming, and there are no side-effects
even if you continue eating it for two years.
So, we saw an untapped potential market in India.
We wanted to target sleep as that market is big.
But, we had experience in beauty. So, our next
variant is being launched next month.
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Peyush, it's written on it. 2-3 months.
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To be honest, the gummy is yummy.
Can we eat more than one?
You can eat it now. But not daily
because it will lead to nutritional overdose.
Okay, I won't eat it.
When I read this,
- it seems like a multivitamin. - Yes.
- The price is Rs. 900 for 30 gummies. - Yes.
This small gummy is worth 30 rupees.
Yes.
You haven't launched What's Up Sleep yet.
- We're launching it next month. - The product...
May I ask you a question about What's Up Sleep? - Yes.
Well, it depends. It's debatable.
You should take the sleep gummies only once a day.
You're recommending that.
Sleeping pill in a gentler form.
Statutory warning is always given.
Drink responsibly. Ultimately, it's our responsibility.
Wow! Good answer!
[music playing]
Now amaze us with your numbers.
What were your sales last month?
30 lakhs.
But there's another brand.
- Power Gummies or something. - Power Gummies, Nyumi.
It's very cluttered.
Are they doing the same thing?
Yes, the benefits are the same.
But, if I talk about Power Gummies,
ours is 40% cheaper than their hair gummies.
50% cheaper than the skin gummies.
Collectively, our products are 60-70% cheaper.
Yes.
How will you save yourself?
We just have one competitor selling at a lower price.
But their gummies are separate for hair and skin.
Separately, they're cheaper but collectively more expensive.
The nutrition of their hair and skin gummies combined
- is less than our gummies. - Very good.
Our Instagram handle has around 50,000 followers.
- Wow! - That's amazing.
- Do you take it? - Yes.
- The same ones? - Yes.
- Is everything fine? - You can see it.
[laughs]
Vaibhav and Sayantani, I have decided.
Wow.
- Um, 30 lakhs a month is good. - Hmm.
But to scale up, an innovative
ingredient or differentiator must be there.
[music playing]
Your ingredient lacks that differentiator
and so does your pitch.
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- You might get an offer. Okay? - Okay.
Do you have any investors as of now?
No, we're bootstrapped.
There's no closure yet. But we've been committed.
What's the commitment? What's the valuation?
A commitment of 1.5 crores on 10.5 crores pre-money.
- Oh my! - Wow!
- Explain your unit of economics. - Okay.
Our gross margin is 86% at 899.
We sell it at Rs. 699 across platforms.
So that there's price parity.
At 699, we have a margin of 81%.
- 81%. Okay. - Yes.
The MRP is high because
if we go offline tomorrow,
the margins must be high for us to earn.
So, we can also offer perceived discount
so that users buy it looking at the 200 rupees discount.
- Very nice. - So, that's 699.
After deducting tax from 699, we're left with 592.
Okay.
On the website, we're selling 1.35 units per order.
So, our AOV is 950.
- So, our net revenue is 800. - Okay.
From that net revenue of 800 rupees,
my courier cost is 80 rupees.
My fulfilment cost is 12 rupees.
My packaging cost is 10 rupees.
So, it's between 100-110 calculating the payment gateways.
Okay.
So, we donate 1% of our net revenue to Givelndia
for their mission- Every Girl in School.
So, we spend 7-8 rupees there.
The RTO is at 12-13%.
So, 100 rupees get deducted there.
So, I have around 540-550.
My CAC is 600 rupees.
Miscellaneous costs between 30 and 40 rupees.
So, I lose around 100-120 per order.
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But, on Amazon, we're a new brand,
people come to our website and buy it from Amazon, Nykaa.
So, we save around 35% on every order.
1.1 units per order. It's priced at 770.
We receive around 630 as net revenue.
On Amazon, per order,
- we save around 180-200 rupees. - You earn.
- Yes. - But you're paying
a commission to Amazon.
26% commission including logistics.
[music playing]
Give us a split of 30 lakhs.
What's the marketing cost to earn 30 lakhs?
- That's the problem. - That's the issue.
[music playing]
Okay, I've decided.
You are an amazing entrepreneur.
You're very detail-oriented
in D2C. I've never seen it before.
The way you explained your unit of economics,
very few people can do it in such a short span.
- It's commendable. - Superb!
[music playing]
- Superb. - You have the clarity.
So, you can build the business.
200% and you know it.
I was interested in investing but in the end
I felt that it was too early for me.
Yes.
Just a moment.
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we will give you 60 lakhs.
But at the same valuation
as your other investors.
Which is 10.5 crores.
Our total will be 4.76%.
Take it or leave it. Tell me what you want to do.
[music playing]
- Congratulations! - I didn't like this about you.
You should've fought a bit.
Sir, this is what we wanted.
[music playing]
- Good luck, guys! - Congratulations!