[music playing]
'Breaking news!'
'Joining the panel of Shark Tank India'
'is the second-youngest Shark at just 31 years.'
'Co-Founder and CEO of Inshorts, Azhar Iqubal.'
[rock music playing]
[engine revving]
'My business of Inshorts'
'is one of the simplest businesses in my opinion.'
'The concept of this business is MVP.'
Minimum Viable Product.
I called my co-founder on 29 March and said to him,
"Let's start sending out news articles in 60 words."
I started a page on Facebook
and began publishing news articles in 60 words.
People loved the idea.
Our product went live in the market in a single day.
The first time we raised funds was at a valuation of Rs. 1 crore.
If I talk about right now, the last round we raised
We have two apps, Inshorts and Public.
and able to bring authentic news to them.
When people do business,
it is mostly with the intention to revolutionise an industry.
In my case, I wish to earnestly accept
that my motivation behind setting up a business
was only to make money.
[triumphant music playing]
[birds chirping]
[machine whirring]
I spent my entire childhood in Kishanganj.
Kishanganj is a district in Bihar.
What I really liked was
that my family attached a lot of importance to education.
A significant part
of my father's earnings was allocated to our education.
Considering where I am now, I wish to give it credit.
My main objective behind studying was
to get into a good institute and do my engineering
so that I could get a good job and make good money.
My goal was clear since childhood and that was to earn lots of money.
[music playing]
I spent two years of my life here.
Kalu Sarai is on one end of the road and IIT Delhi is on the other,
and it takes people two years to get there.
You prepare for two years, cross the road and get into IIT.
Do a four-year course there,
cross the road once again and then become a teacher.
The salary for that job was Rs. 50,000 plus
which is more than twice what my father used to earn.
So, I knew I could take a gamble.
It didn't matter whether I got a degree or not.
I dropped out of college after three years.
[fire crackling]
I started my journey in 2013.
There were very few people
who spoke of setting up their own business.
Shark Tank changed the conversation completely.
Now, in every town and alley,
people talk about business and equity.
When I got the opportunity to become a Shark on Season 3...
It was a great moment for me.
Rather, one of the best moments of my life.
When judging an entrepreneur,
my biggest criteria is how big are his goals.
If he succeeds...
Even if the chances are 1%, less than 1% or even 0.1%,
if that person succeeds, he will bring about a massive impact.
That's my biggest motivation
to be a part of any start-up.
[light-hearted music playing]
They've swindled me. Let them come!
You saw the combination of clothes and technology
Let them come here.
[theme music playing]
Oi, the counter has changed! It has changed...
[music fades]
Hello, Sharks. What would you like to have?
- Vineeta, you're quite fond of coffee. - Yes.
- Why not start the magic with coffee? - Sure.
I'll show you something which is very unique, with this coffee.
Aman, you're the favourite of youngsters.
Why don't we try some soft drink?
Who told you that?
Pour it from a height.
- Pour it down your shoulder. - You're a fitness freak.
How about we try this juice for you?
- That's more like it. - Yes.
- Oh my God. - Amazing.
There is not a single stain
nor is the T-shirt wet.
This is a pure cotton T-shirt.
That's how I fell for it too!
[Sharks laugh]
He heard technology and fell for it.
The word technology was enough.
Sharks, that was not magic.
That was TURMS's intelligent cotton T-shirt.
TURMS Intelligent Apparel.
At TURMS, we use technology to create intelligent apparel.
This means you can wear any of TURMS's apparel fearlessly.
We have other technology as well.
For instance, our 30 Days No Wash Jeans
Sharks, I envision making this sustainable,
innovative and creative global brand.
What did you say your name was?
When I bought this product and checked its quality,
apart from innovation, I saw immense potential in it too.
I lived abroad for 15 years before that.
I quit my well-paying corporate job in 2022
and acquired TURMS.
I spent ten years in the Middle East.
I was Strategic Director, Asia, before that for Volvo.
Could we test the apparel?
Sure. I have a stand ready for you to conduct a test.
- This is an ordinary shirt. - Okay.
This is a TURMS shirt.
- Can I pour this? - Sure.
You'll send detergent companies out of business!
That's coffee on an ordinary shirt.
Gosh!
Oh, nice!
Aman, try it horizontally once.
- With what? - You could try the juice.
- Pour the liquid once again. - Yes, try it now.
Sure, go on.
Wow!
It was doing good business before Covid came along.
It had six co-founders.
After the pandemic, they decided they couldn't run it any longer.
We had an option to...
Rameswar was the main founder of this company.
Rameswar, Rohit and four other co-founders.
Can I ask you something?
I've been following up for two years
to liquidate my shares in the company
so that I could book losses.
He had invested in TURMS.
- I am aware of it. - Oh, you are!
- Yes. - The condition is so bad
that I can't even book losses in the books
because no one is ready to buy out the shares even in Rs. 2.
I don't know how much you bought it for.
There's a lack of transparency.
No, sir. I will answer your point.
When I made the deal, there was transparency.
- Oh! - That's the first thing.
So, the earlier founders swindled me.
No, sir. The pandemic was a tough phase for a lot of people.
I think the intention was not to cheat anyone.
They're still in the market and are still responding.
The vendors were paid off.
Our entire process was neat and clean.
I think it's fair.
How much did you buy the brand for?
- We settled at Rs. 15 crores. - Whoa!
- You invested Rs. 15 crores of your own! - No, sir.
The valuation was set at Rs. 15 crores.
How much did you pay?
Basically, it's better to offer debt
and offering equity to companies is of no use is what you're saying.
I don't understand.
and the investor holds preference shares.
Yes.
but the founder did?
- Let me explain. - The founder didn't.
- He did! - He got Rs. 1.5 crores.
Did you give Rs. 1.5 crores to the founder or the company?
- We gave it to the company. - The company, not the founder.
Not the founder.
What did the company do with that Rs. 1.5 crores,
because the company had shut down?
- They're vendors... - Dues.
- They paid them off. - Liabilities.
They cleared off the liabilities.
What's the scale of the business now?
We started the business again in October last year.
We did sales of Rs. 3 lakhs in October.
What is your projected profit for the current year?
What will this number be monthly by March?
Only from our website, we will do Rs. 2 crore per month.
How much will the profit be as per your calculation?
We will make Rs. 25 lakhs on a revenue of Rs. 2 crore.
The old company has seen a huge transformation.
Earlier, we only promoted anti-stain.
Today, instead of features, we sell benefits.
For example, these aren't the first anti-odour socks ever.
Our 7 Days No Smell Socks
became so popular at the time of their launch
that one of our highest-selling products today
is the 7 Days No Smell Socks.
When we'd talk about jeans, we'd promote them as anti-stain.
They're a combination of four technologies.
That's antifungal, antibacterial, anti-odour and anti-stain.
Now, we had to give these four technologies a name
which also had to be catchy.
We named it 30 Days No Wash.
What's the price difference between yours and competitors?
This entails less washing and is more hassle-free.
Our T-shirts are available for Rs. 999.
And the ones in the market?
I make it a habit to personally speak to those
who have placed large orders.
- Very good habit. - "What made you buy this?"
"What ad did you see?"
I get to know where I should invest
with insights into the customers' mindset.
I take immense pleasure in saying
that our return and RTO combined is a mere 10%.
Not bad. That's good.
I will suggest that you touch and feel the T-shirts...
You should've got us some. People get gifts for us.
Have you brought us bribes?
- Yes. Absolutely, sir. - Yes.
This is for you.
Earlier, this company had too many designs.
- Here. - The SKU range had become too high
whereas it wasn't needed.
- 100%. You're 100% right. - Right?
Our expertise is cotton.
When the cotton fabric is ready,
it goes for washing before it is stitched.
There we use hydrophobic nanotechnology...
Tell us if it's in the cotton or you're taking other measures.
We give a coating once the garment is ready.
- Does the coat last for life or 20 years? - No.
it won't last that long.
How long does it approximately last?
A lot of customers have used it for six to seven... A year.
- It is... - Seven years?
- Or seven months? A year. - One year.
What technology is used for anti-odour?
The first technology is a solution
and the second is red aloe vera.
That's an additional introduction after I acquired the company.
Red aloe vera is a plant
that is 22 times more efficient than regular aloe vera.
It costs Rs. 58,000 a kilogram
- and is from Africa. - Anti-odour...
That's your anti-odour and antifungal tech.
You also need fabric softener.
People use chemicals whereas we use this.
This is also a spray.
- No. - Used after making the garment.
We infuse it.
- As in? - In the liquid during the wash.
We add it to the liquid during the washing process.
You have not made an original formula.
You have an IP for blending...
- Blending... - Washing and processing.
but when it comes to design,
they're a little dull.
Do you wish to improve that or not?
Sir, dull is not the right word but the...
- Simple. - I found them drab.
They're simple and subtle.
Even today, the age group of 35 years and above
switches to polo shirts after a certain point,
and even that is subtle.
A famous cricketer
is spotted wearing TURMS 22 times a month.
It'd be great if you could tell us his name.
It's Mr. M S Dhoni, sir.
- Oh, great! - Oh.
- Great. - Mr. Dhoni.
- M S Dhoni. - Yes, sir.
I wish to know one thing, Surender.
This would make for a great learning experience
for any aspiring entrepreneur.
What actions did you take
in order to revive this failing business?
When the transformation process began,
we figured that if we wanted to transform the business,
we needed to get our basics on track
and if we wanted to do a business, it had to be a profitable one.
So, we began by strengthening our backend operations.
Firstly, you don't need warehouses in multiple cities.
These days, if you give air charges to a good courier company,
the difference in your cost will be Rs. 38.
If you do that,
your product gets delivered on the second or third day,
Then comes your packaging
because these are all hidden costs.
Suppose your packaging is one kilogram.
When that is put through a Falcon machine,
if even a corner of your polythene pack is jutting out,
the weight is marked as 1.5 kg.
This is what we did.
We ensured our box weighed 0.93 kg.
All the products we sell fit into that box
and we pay the rates for below 1 kg.
Thirdly, your team members.
Our team members, full-time and on-roll,
had reached a figure of 50 to 60.
Today, the total size of our team is 9 people.
- No... - Yes!
- You turned it around. - We were expecting someone else.
This is the good old Bania intellect.
By the way, I am from Rajasthan, sir.
Great. I salute you.
- First, execution is extremely important. - Very, sir.
The idea is important too, but if execution is impeccable,
the idea is immaterial.
Here's the second thing.
Having good investors on your cap table is extremely important.
Good, okay?
My offer to you is Rs. 1.2 crores,
as you had asked, at 4% equity.
- Wow, rich offer. - Very nice offer.
Plus royalty at 5%.
Oh!
- Were you... - 5% of what?
- Net sales. - Is this an afterthought?
- Was it part of the original offer? - I've written it.
Look, plus royalty.
Do you want to see? Come and see.
Until the review goes up to 4.5 stars, something is wrong.
90% of the complaints were about the 20 washes claim.
We would claim 20 washes, it'd last only for 10 washes.
You're working on a certain detergent.
But Indian consumers will use different detergents.
The 20 washes claim doesn't hold up in this brand.
Please do some R&D to make it last longer.
Only then will it grow.
And for that reason, I'm out. Best of luck, it was nice meeting you.
- And you have an offer too. - Thank you.
Okay, Mr. Surender, let me make you an offer.
You deserve one, right?
I want to make an investment, but not just for now,
I think that if it does well,
then I can put more money in future too.
My offer is Rs. 1.2 crores for 4%.
I think you should save a bit of the margins,
so I'll take 2% royalty.
going to understand your business.
- Right. - I'm very fast.
I just wanted to ask what your marketing
cost last year out of the Rs. 60 lakhs?
Our total loss last year was Rs. 1.2 crores.
Mainly in marketing.
How much money you blew on marketing?
- Well... - Blew!
No, sir, that's the right word because
it pains me a lot but...
So, how much did you spend on marketing?
Rs. 40 lakhs.
Mr. Surender, I'll also make you an offer.
Thank you, sir.
I'll get rid of the royalty.
Very rich offer.
I was also making an offer without any royalty, but
Rs. 20 crores was the valuation that I had in mind.
So, I think it's a very good offer for you.
I'll not get into this fight today.
But I just want to say that apart from being
an amazing executioner and you're also very brave,
despite knowing your history with Peyush,
you still came to Shark Tank.
It's like spilling blood in front of a shark.
No, I wanted to meet him.
And you addressed it openly with such transparency,
Like a turnaround, you did a TURMS around.
So, great job there.
And I'd have offered,
in fact, I had prepared one but this is a very good offer.
I don't think I'll be able to match it so for now I'm out.
What do you want? You don't want to pay a royalty?
I don't want to pay a royalty.
I'll reduce the royalty to 1%.
But it's difficult for me to make the deal without that.
If that's not okay with you, then I'd like to be out.
Okay.
So, you don't want to pay any royalty?
Royalty was not in my mind.
Okay, then I'm out.
Okay, sir, you have just one offer but it's close
to what you wanted. What are you going to do?
I think, let's make the deal.
Congratulations.
- Good to meet you. - Thank you so much.
Thank you so much.
No problem. Take care. Execute it well.
- Thank you so much. - Good job with the deal.
- Amazing! - I'm so glad.
Forget shaking hands, give me a hug.
Sir!
- Thank you. - No problem.
- You taught us a lot today. - Thank you so much.
Thank you so much.
[music playing]
So excited to see you guys.
So, Sharks, who is the king of the brand?
Of course, the customer.
If there's an industry which truly
treats their customers like a king or a queen,
then it's the salon industry.
Imagine getting to the salon
after a tiring day at work
for a pedicure or facial,
and then during the treatment, you are given products in small bowls,
sometimes, more products are used, sometimes less,
sometimes you get a longer massage, sometimes lesser.
There's not much standardization.
Some are so tired of it that they
prefer to buy their own products and give it to the parlour lady.
So, to give the customers the
pampering befitting a king or a queen,
we have started Mintree.
Most of our products are certified organic and vegan.
And they don't have any harsh chemicals.
We're currently present in 3000 salons.
But because all the salons have admired our products,
to provide all of India a pampering that befits a king or queen.
Well done!
Shall I quickly show you the products?
Okay.
[music playing]
- You can take both. - Can I? Thanks. - Yes.
Your packaging is very good-looking, by the way. I love it.
The packaging has a premium feel.
Your logo is also very premium looking.
Yes, let her go there, then you can talk.
- Forest essentials. - Please take a breath.
Let her go there, then we'll talk.
The box that Aman has
is our top-seller.
This is our one-time-use pedicure kit.
It has a scrub, mask, massage candle.
It has a bath bomb,
a detox tea that you can drink during service.
A detox food package that you can take home.
This standardizes the customer's experience.
It's always hygienic and takes the pampering to the next level.
So similarly, our brand has another value
which is that we never let our customers leave empty-handed.
When we add this bath bomb
to water, then it starts fizzing.
[music playing]
And eventually, when you open it,
then you'll find some jewellery in it.
[music playing]
We gift this jewellery to the customers.
There's another product which is very close to my heart.
And that product is a bikini mask.
So, many times when women get a waxing or laser,
it pains a lot.
And the salons don't have a solution for that pain.
So, this mask provides relief from the pain and redness.
Tell me one thing.
- The packaging is so premium. - Yes.
What's the value if it's for a one-time use?
So, basically, we moved away from
sachets and used this premium box because
we, obviously, charge a premium for it.
And they can show the differentiation.
They're told that this box is being specially used for you.
What is the premium that the salon is able to charge?
A good amount. Like, if a normal pedicure is for Rs. 700,
our pedicure is for Rs. 1200-Rs. 1500.
Is it written in the salon as Mintree pedicure?
Yes.
Out of the 3000 salons, how many of
them have Mintree pedicure mentioned?
There are only 300 salons that have a menu card
because our A salons are only 300.
The B salons don't have a menu card,
they call it spa pedicure.
Spa pedicure is like their high-category pedicure.
What are the sales of your single largest salon? Can you tell us that?
From Rs. 75,000 to Rs. 1 lakh a month.
And is it a chain?
Enrich salon.
Enrich is a big chain, so isn't it less?
They're only using the mask.
They have started private labelling these days
and they're manufacturing their own products under their brand name.
Before that, they used to do Mintree pedicures.
And we'd do Rs. 1 crore of business
yearly from them just from pedicures.
That's your biggest problem.
Today and in the future.
But I think that
even after excluding them, there's such a big market that...
The 300 A salons that you mentioned, how
many such salons are there in the country?
Around 1500 to 2000.
How many B type salons in the country?
About 20,000 to 25,000.
What's the revenue now?
We started this in 2019.
I want to tell you that
I had a little corporate experience before this.
I'd get a salary every month so
when I joined the business, I was very clear that
if I don't get a salary in my account, then I won't work.
So apart from this profit, every year
I have drawn a salary of Rs. 30 lakhs.
- Well done. - Yes.
I want to know another number.
What's the revenue from the salons?
I'll give you a projection that will answer your question.
This year, we have planned that
the turnover from the salon
should close at Rs. 17.5 crores.
Your initial business must be salon-dependent.
Yes.
Then you'd have to convert them to be your customer.
Then it becomes customer-dependent.
So, Aman, if you give such a big and fancy kit
to the customer, which includes a jewellery,
a pencil...
What difference does jewellery make?
Even Kinder Joy has a toy in it, which kids get bored of these days.
The magic is in the products because it must be giving them results.
Along with it, if they get something
extra, they're not going to refuse it.
But they're paying a higher price for it.
And eventually if the packaging is good
and your experience is good, because
those who are getting a pedicure done...
I have a little doubt about this.
But you've answered all the questions correctly.
This is very gimmicky.
No, I don't think this is gimmicky.
I'll get your pedicure, please give it to me.
Okay, Peyush, you can take it.
Why will someone pay Rs. 1200 for such a body lotion?
If I buy a lotion from the market of this size...
Yes.
...which is natural.
How much will it cost? Rs. 200 to Rs. 300?
Rs. 1200 is very expensive.
The D2C offers going on these days,
if we keep the MRP modest, then people will drive you crazy.
So you'll discount it, then what will be its effective price?
- Around Rs. 750. - Rs. 750, but still premium.
Kanikka, the product worth Rs. 1200
that you will sell online for Rs. 700,
your salons will dump you.
You'll put an end to their earnings.
L'Oréal sells D2C.
No, that's a different brand.
L'Oréal Professionnel is only available in salons.
Yes.
Kanikka, I like you as an entrepreneur.
But unfortunately, I'm out for now.
Because your business right now is salon-centric.
Yes.
And you haven't explored D2C yet.
So, you haven't reached the stage where
you can be valued at Rs. 90 crores.
And I won't be able to give you Rs. 90 lakhs.
So unfortunately, I'm out for now.
Thank you, Aman.
But I just want to tell you that
I have worked 8-9 years in the corporate sector,
I have an understanding of the retail business.
I wanted to start from B2B because I knew that
if I do it right, I'll be able to make a profit from day one.
You wanted a salary in your bank account.
A hundred percent.
Will you tell us about your background and your family?
My dad is an income tax lawyer and chartered accountant.
Oh my gosh!
I did my graduation from Nagpur.
What did you graduate in?
BCA. Bachelor of Computer Applications
and a fashion technology diploma simultaneously.
Then I did an MBA from S.P. Jain.
Then I went to London to do a master's in design management.
And then I worked in LVMH after that.
Then I joined L'Oréal.
Then for 3 years, I worked as a product manager in L'Oréal.
Then I joined Reliance Brands.
Over there, I launched Hunkemöller.
By then, it was my calling that I had to start on my own.
Because I had worked for many years.
What was your main motivation for becoming an entrepreneur?
I hadn't lived with my parents much because I was always living away,
so they wanted me to move to Nagpur and live with them.
And they were tempting me with a business so that I come back.
How much money did your parents invest in the business?
Rs. 3 crores.
Rs. 3 crores is the capital?
- Wow! - Wow!
I built a manufacturing unit.
What's...
I want to know about the manufacturin unit. - What's their equity?
Kanikka, you're very nice.
You are a good entrepreneur.
We'll close at this. This is what we'll pitch.
Yes.
But the challenge is that
even if you reach upto 30,000 salons,
which is impossible.
Let's say you reach 10,000 to 15,000,
even then your business will be
worth Rs. 40 crores to Rs. 50 crores.
I think you've already understood that.
That's why you want to start your own brand and enter into D2C.
So, I was thinking that
I can take a bet on your capability
to build a potential D2C brand.
But I can't give you that valuation
for your current business.
So, I'll make you an offer.
I'll offer you Rs. 90 lakhs for 3 per cent of your business.
Along with it, I'd like you to give me a royalty.
You give me 2 per cent of your sales
until I make 1.5x...
can build a Rs. 100 crore brand.
So, Rs. 100 crores is a great
aspiration in building a premium brand.
You don't need to get distracted by D2C today.
My offer is exactly
the same as Anupam's.
Which is, Rs. 90 lakhs for 3 per cent and 1.5x...
Then make it the same.
Azhar and I want to make you a joint offer.
3 per cent equity and we'll also want a royalty.
Instead of 2 per cent of your sales,
we're okay with 1 per cent of your sales
I want to put every penny back into the business
because I want to do something new.
If I want to do D2C then I'll need more funds.
So royalty is difficult for me.
I'll make it a bit easier for you.
Vineeta and I will combine our deal.
Then you have only two offers.
And zero royalty?
Because it's really difficult to do that.
which is final.
But after that, no negotiation possible at all.
Rs. 90 lakhs, 2 per cent, no royalty.
Me and Azhar will match your offer.
- She'll agree for 2 per cent. - She'll agree for 1.5 per cent.
- He offered 1.5 per cent. - Yes, 1.5 per cent.
1.5 per cent is a better deal.
She will take it.
Now it's 1.5 versus 2.
I'd be happier if we don't get it.
You'll be happier if we don't get?
I just hope she comes back with 90 for 1.
[music playing]
Okay, Kanikka. What did he say?
So, Azhar, Peyush, I'd love to accept your offer.
Congratulations.
[camera clicks]
[theme music playing]
[music fades]
Hello, Sharks.
What can one really do in two minutes?
Neither do instant noodles get ready in two minutes
nor does one's wife.
However, there is something exceptional that we can do
in 80 seconds and under two minutes.
We present our machine 80 WASH
which washes clothes in 80 seconds
I am Varinder.
80 WASH is a new-generation washing machine.
Normal washing machines are front load.
They consume around 15 to 20 litres of water per cycle.
80 WASH, on the other hand, does that in 80 seconds.
A normal washing machine
runs for about 60 to 70 minutes per cycle.
80 WASH runs for 80 seconds
where the volume of laundry is extremely high.
Let's take a hospital for instance.
It caters to thousands of patients daily.
If we were to change bedsheets and pillow covers for every patient,
imagine how much water, resources,
electricity, human manpower and time would be consumed.
to make doing laundry economical and environmentally friendly.
Sharks, our ask
- Thank you. - Before we move on, give us a demo
because I want to see how you wash clothes without water.
I want to smell the clothes.
I'd like to call upon our friend Bhavya Verma to give a demo.
Why? Why can't you give the demo?
We could also do it, but he...
- He's an expert. - Yes, he is.
An expert at what?
- That's the machine. - Right.
- It is usually in industries. - I see.
The industrial personnel operate it after being trained.
This isn't for residential purposes but only for industrial purposes.
The demo of the model we're about to show you
- is the industrial model. - Got it.
Hello, Sharks. My name is Bhavya.
I will stain a towel with coffee and wash it in the 80 WASH.
Can I pour my coffee on it?
- Yes, it will be practical. - Yes.
Sometimes, it doesn't seem like a genuine stain.
What if your coffee isn't genuine either?
She poured all the coffee!
Can 80 WASH clean it?
We will try.
You look nervous to me.
[music playing]
I will flip this switch downwards
and allow the water to fill in the tank.
You claimed this was waterless.
No, it consumes half a glass of water.
that it removes stains from the clothes,
kills bacteria and germs
- and also eliminates odour. - Nice.
Let me tell you that the ISP is a patented technology
which we've patented.
So, you've been granted the patent globally.
- No, it has not been granted yet. - Okay.
We have filed for the patent.
Yes.
Wonderful.
I flip this switch upwards to start 80 WASH.
I flip the adjoining switch to start the first washing cycle.
The machine takes some time to generate ISP,
the process of which has begun.
- How much time? - About 120 seconds.
He already said that two minutes are not enough to do anything.
You proved that two minutes
are not enough to make instant noodles or wash clothes.
Okay, 120 seconds are up.
It has been more than that.
It takes a little longer the first time.
- Sometimes... It has started. - The machine has started.
The entire process is automated now for 80 seconds.
You built this technology.
Rather than this business,
it'd have been better to sell it to washing machine manufacturers.
- That'd have been easier for you. - You're right.
A lot of companies asked us for demos.
They do not wish to disturb their current assembly line.
They don't want something like this to enter the market
as long as they can continue to book their profit margins.
Sharks, our 80-second cycle is now complete.
- Done. - Quickly take out the white towel.
- There. - It must be hot.
This is just the same. It is still dirty.
[gripping music playing]
- This is still dirty. - Is it wet?
No, it doesn't smell fresh either.
Coffee leaves a hard stain.
The more cycles it is put through, the cleaner it gets.
First, you said it'd work in 80 seconds, but it didn't.
Then you said 120, that failed too.
Then you said one cycle is enough, but it wasn't.
Now you say it needs a second cycle. Will this work?
The colour will get duller.
In the industrial sector, time is money.
If they have to keep doing this, then people will lose their jobs.
- Did you start it again? - Yes, I did.
When we introduced it in hospitals...
by selling the pilot machine to them.
I don't consider it a complete sale.
My first commercial sale took place 2.5 months ago
to the same people who bought the pilot product.
How much did you sell one piece to them for?
This costs Rs. 26,999.
I gave it to them for around Rs. 25,000 after a discount.
Who bought them?
Do you sell it for Rs. 25,000?
The one you see is the 3 kg version.
The 7 kg one costs Rs. 55,000.
- What is the average selling price of your machine? - Rs. 40,000.
When did you start this? How do you know each other?
- Tell us the whole story. - Quickly.
I run a lab.
He'd come to the lab to conduct research.
He was a student at that time.
- You run the lab in Chandigarh. - Yes.
- What's the name of the institute? - Okay.
Centre for High Power and High Frequency Engineering.
Interesting.
He has an expertise in that area.
So, I had a discussion about manufacturing with him
in case my research was viable.
Later on, we both spoke to him.
Initially, I was working only with him.
- Then with them both. - What did you do in the last five years?
We spent three years doing the research.
- It... - Was that full-time?
No, not full time. I still run the centre.
So, you still run the centre.
- In Chitkara University. - Chitkara University.
This is one of the products from your research at the University.
- Yes. - Alright.
How many sheets can fit in one machine?
Two sheets.
If you wash 1,000 sheets, two at a time,
- that would take 2,000 minutes. - Yes.
What is the total number of hours?
That would be...
- That's 30 hours which is 1.5 days. - Yes.
Sir, 1.5 days is a lot.
Instead of buying more machines, people will return your machines!
- Do you understand? - But...
This steam is subjected to clothes for 70 minutes to kill bacteria
versus your 80 seconds.
The result can't be the same!
- 80 seconds are up. Yes. - Done, right?
Wait.
We're about to get clarity soon.
- As well as on the coffee. - Coffee.
- Wow! - This isn't clean.
- You failed the exam again. - This looks dirtier.
- What do you say to a third try? - No way.
- Come here. - Show it to me.
[music playing]
Oh.
- This is with half a glass of water. - Is the stain lighter?
- No. - No, it isn't.
No... It is lighter, but...
- It has spread a little. - Yes, a lot.
Honestly, soaking it in water makes it just as light.
I can do this manually too.
That was a lot of coffee. Not normal...
Even commercially available washing machines
- will not get rid of such a stain when used. - It's possible.
- Okay, now... - Why did you make that claim?
- No, we... - You dug your own grave.
You shouldn't have agreed to Vineeta pouring her coffee.
Not only did you dig your own grave..
You too... Yes.
You also dug the grave of your co-founders.
I know what your machine does.
It boils water and sterilises clothes. That's it.
The steam carries the stain that has been separated by the ISP.
Call it ISP or soaking in hot water, it's the same.
As of now, this feels really uninvestable
and I see red flags everywhere.
So, I am out.
You claimed to have built a technology.
If this claim is true, only then this would be revolutionary
as per my understanding.
The demo you gave us could not win our confidence.
- What about their claim? - Not that either.
For that reason, I am out.
Guys, I believe the direction that you are headed in is wrong.
You're targeting the industrial market
which comprises salons, hospitals and hotels.
Cleaning and sterilisation is one part,
but bleaching is critical in that business.
Ultimately, if a person is getting that done,
he wouldn't mind getting this done as well.
- It's an additional process. - Yes, got it.
Sales and business in that sector is extremely difficult
and I don't wish to get into it.
Anyway, I am out. Good luck.
I believe that your pitch went haywire today.
You showcased an early-stage concept as a finished product.
[tense music playing]
That was the mistake you made.
So, I am out.
I've made a note of the points.
Zero in demo, innovation, technology and invention.
This is a boiler.
Tell me the name of the hotel you sold them to. I'll never visit it.
Take the machines back from the hospital you sold it to,
because they're substandard.
I am out.
You should do something else rather than making these machines.
Continue with your research.
The day it matches with your claims, then it's a revolution.
It isn't! It's nothing but a boiler!
- Stop motivating them. - You need to fix your pitch!
Had I pitched in your stead, I'd have gotten them to invest.
Don't get into the tech. Residential market.
Localised Indian machines should sell in every village.
- Okay, bye. Thank you. Best of luck. - Good luck.
- Thank you, sir. - You're doing good.
- Thank you, sir. - Thank you.
[music playing]
Friends, hello and welcome to Ask The Shark.
On today's segment of Ask The Shark, we are joined
by CEO and Co-Founder of Inshorts, Mr. Azhar Iqubal.
- Welcome. - Thank you, sir.
This question is by Shiv Mishra from Banaras, U.P.