[music playing]
'Joining our OG Sharks on Shark Tank India'
'is the MD & CEO of Edelweiss Mutual Fund,'
'the limitless, Radhika Gupta.'
[inspirational music playing]
'My upbringing was quite unique'
'because my father was a diplomat.'
'He represented the government as well as India,'
'and we'd switch countries every three years.'
'I think everything that we are, we owe to our family values.'
'Every time we left a country, Dad would say.'
"That was the past and it's over. Look to the future now."
'Moving on was a value too.'
'When I was 24 years old and I was working in the US, '
'the country saw a financial crisis.'
'So, I made a very unique decision'
'to come to India and become an entrepreneur.'
'I slogged away in Mumbai for four to five years'
'and built a company called Forefront Capital.'
'And because an opportunity presented itself, '
'I sold my company to the Edelweiss Group.'
'However, fortune had an exciting role for me.'
'See, risk is such an important function, Archita, '
'that when we have a default thing, '
'we finally say, "Let's take up the risk."
In 2017, I got another opportunity
to build another start-up
[inspirational music playing]
We've closed our largest-ever equity NFO at Rs. 1,000 crores.
We've covered 60 cities.
We've travelled over the length and breadth of the country,
and I think this is just the beginning.
Cheers to all of us.
[applause]
In 2018, I took up storytelling classes
after which I gave a talk.
It was called 'The Girl With A Broken Neck'
which released on YouTube.
It had a major impact on my self-confidence.
I learned that faults, challenges, rejections, and problems
are faced by everyone.
They do not make us any less, they only make us human.
I am extremely optimistic for the coming 20 years of India.
I consider myself and others extremely fortunate
to be working in the current Indian era
and building companies.
Say hi!
[inspirational music playing]
The biggest reason for my optimism
is Indian entrepreneurship.
The animal instinct within Indians to build companies
will take the nation forward.
[inspirational music playing]
- Is this your first shoot? - Yes.
The first pitch and first shoot.
So, you and Aman have to be nice to me.
Vineeta knows me. So, she'll be nice to me, I hope.
[theme music playing]
[music fades]
- Hi, Sharks. - Hello.
Every year, lakhs of restaurants
make a grand entry just like a Bollywood film hero,
but they lose to the villain even before the interval.
Excluding Covid,
3 lakh restaurants shut down in the last two years.
Who is the notorious villain of the restaurant industry after all?
Low profits and high staff dependency.
Here to defeat these villains is a new superhero.
Dil Foods.
[music playing]
Greetings, Sharks.
it creates fresh food brands,
and for its last-mile cooking and final distribution,
also does tie-ups with small and big existing restaurants in the country.
Sharks, imagine that a new restaurant has opened up
with a capacity to serve 100 guests daily.
Its staff and resources are ready to tend to 100 guests,
but only 50 guests show up.
So, this restaurant can partner with Dil Foods,
choose from any of our eight cloud brands,
and parallelly operate from their kitchen.
Not only are their resources fully utilised,
but their revenue increases too.
It means, the same kitchen with zero additional investment
and a blockbuster profit!
You must be wondering
We've partnered with over 65 restaurants
in the last 1.5 years
Sharks, we dream of building a sustainable ecosystem
in the restaurant industry
ensuring that no restaurant shuts down due to low revenue
or low profits.
Sharks, we are ready to turn our dream into reality.
And to connect you with our dream,
Baniyas have a saying that goes...
This is so good. The food smells delicious!
Ritesh, what you have there is our Peri Peri Khichdi.
Along with that, there is also Banarasi Chaat in your tray.
This is exciting.
Aman, your tray is of the brand House Of Andhra.
- Radhika, your tray has Chole Kulche from Paharganj. - Ah!
You will also be trying our Tamatar Chaat.
- I think I have Tamatar Chaat too. - Yes, you do.
- Kadhi Chawal. - Yes, you have Kadhi Chawal also.
And Peyush has the famous Litti Chokha from Bihar.
I've never had it before.
You should try it.
The chaat is amazing.
- Thank you so much. - The Tamatar Chaat is outstanding.
Just like the one you get at the 'ghats' in Banaras!
- Wow! Amazing. - Outstanding!
- The Kadhi is yummy. - Thank you.
Where are you from?
I am from Ranchi in Jharkhand.
I am a biotech engineer from MIT, Manipal.
After I graduated, I worked in Himalaya Drug Company
and Reliance Capital.
The turning point in my career came when I joined Swiggy.
- In which year? - 2017 to 2019.
I worked there for two years.
- In Bengaluru? - Yes.
I started a company called Nutnbolt back then.
- We'd tell them that... - Smart.
"You should serve dine-in customers as you're good at that,"
"and we will manage your online business."
What we realised was
that if a new stream of revenue
were to be added to the P&L of tail-end restaurants
We took a pivot In April 2022 and set up Dil Foods.
They're servicing their customers too.
98% of the restaurants in India are underutilised.
Let's say you have a potential of 200,
but you're currently fulfilling 50 orders.
For the balance 150 orders,
we will assign brands to you
depending on the geographic presence.
Suppose you're in Powai in Mumbai.
"This is the demography"
"and these are the brands we need to start in this location."
So, we assign those brands to you.
Basically, you convert them into a franchise of your brand.
- It's a virtual franchise of sorts.. - Um, in a virtual way.
- Are these brands yours or do they.. - The brands are owned by us.
- So... - Both the brands and the recipes.
The restaurant's job
is to follow our recipes,
use our supply mixes to regenerate the food,
pack the food in our packaging,
and despatch it.
Who oversees the food quality?
We maintain it.
Don't you have people over there?
No, we do not.
So, you're dependent on the restaurant staff.
They prepare the food and deliver it.
There's no guarantee of the taste.
- You ate the special curry from the House Of Andhra. - Yes.
Water was the only ingredient used to prepare it.
We use freeze-drying for our products
or lyophilization.
After the product is cooked,
The ingredients that they use have been chopped in the morning
which is why there is a presence of microbial growth.
Whereas, our food is freshly cooked
and brought to a temperature of -18°C within 15 minutes,
after which it is freeze-dried and stored.
So, there is no chance
of spoilage in the product.
So, it's fresher than what you get in the restaurants.
Can I see your video?
Instructions for the chef.
This explains the cooking instructions.
This is a powder in dehydrated form.
- Which dish is this? - Butter Paneer.
Does your powder contain butter too?
The powder contains all the ingredients.
Do you supply the paneer too?
We send marinated paneer from our side.
if I order from you.
- Everywhere. - Two-day old...
What does that mean?
Paneer has a shelf life of six days.
All the restaurants... The hotel industry for that matter
replenishes its stock every three days.
I know that on airlines, I will get pre-packaged food.
- I am aware of that. - Yes.
Learning this about restaurants is...
- You're disappointed. - I'm heartbroken.
Is this a special process? Can it be replicated?
Have you engineered this?
This process is widely used in pharma.
Not many people in India in the food industry are doing it.
- Where is your production unit? - In Bengaluru.
- Good. - What is it you're building?
Cloud brands without a kitchen?
Cloud brands with absolutely zero CapEx
- Correct. - From the time of the pivot,
please state your revenue and EBITDA.
Last year was our first year of operations.
Last year's revenue was Rs. 7 crores.
What!
- And loss? - Rs. 1 crore.
- Our sales so far are Rs. 13.16 crores... - Excellent.
Yes. 5% for the...
What's your CapEx investment so far?
Rs. 3.5 crores.
- Your own supply chain! - Yes.
Our logistics cost is extremely low currently.
It is less than 1%.
Arpita, tell us about the funds you've raised.
When we started Dil Foods,
during its inception in April, we raised Rs. 1 crore
from angel investors.
We diluted 7% equity at the time
at a valuation of Rs. 14 crores.
Post that, in September the same year,
we raised a bridge round.
And this year in February,
- Very good. - Rs. 15.5 crores!
Yes, at a valuation of Rs. 75 crores.
We're not here to get capital.
We wish to build a big company
for which we need a lot of experience and expertise.
Challenges will come as we progress.
Then there's stakeholder management and various crises.
So, the perspective of founders in terms of thinking
as well as the help that the founders can provide...
- Um... - Great pitch, Arpita. I will make you an offer.
You understand your consumer,
which is both restaurants and customers,
extremely well.
The insights you gave us were really powerful.
It takes years to get to that level.
There's a saying in our industry.
'During a gold rush, sell shovels.'
- Everyone's running after the gold. - Yes.
Your perspective was
to empower restaurants instead of opening one yourself,
helping them make money as well as providing the customer a service.
So, I think that was very insightful thinking.
I will offer you Rs. 50 lakhs for 0.5% equity, which was your ask.
Could you tell us how restaurants make money?
Their profitability is guaranteed on every product.
Vineeta had Kadhi Chawal.
come to 4.88%.
What is your five-year vision?
We want to become a Rs. 7500-crore company.
Whoa!
Will you do this all organically
or do you think you will be taking the inorganic route too?
We're open to both, Peyush.
We do wish to build a somewhat sustainable business.
We do not want a higher burn.
However, I have no idea about the challenges I can expect
post three years.
[clapping]
You are a darn good businesswoman!
- Thank you. Thank you so much, Radhika. - You are. I mean...
Every five minutes of this conversation,
you've won my heart incrementally!
Thank you so much.
Your business model is exceptional.
You started with profitability.
You wish to run a profitable business.
You have exceptional control over your numbers
and you're running a capital-light business.
I think you are a phenomenal businesswoman.
Thank you.
I won't top Vineeta's offer. I will make you the same offer.
- First off, you have in-depth business knowledge. - Thank you.
I believe the deeper you go,
the more successful your business will be.
I will also offer you Rs. 50 lakhs
at the same percentage.
We will together enable Rs. 1 crore at 1% equity
which means you get more capital
- and more people come on board. - Yes.
Of course, if you want Radhika to join us as well,
all three of us are ready to support you.
You have two options.
One offer is Rs. 1 crore for 1% equity.
You are an incredible entrepreneur.
You are honest, right?
You go into details. You're able to articulate.
You're calm and composed,
- which I think is important for a leader. - Thank you.
You'll do very well.
So, I'll join them in the offer.
I think everybody wants to own
at least half a percent of your business
to make it worth their time.
- Yes. - So, Rs. 50 lakhs each from us.
Now, you have Rs. 2 crore for 2% equity.
Don't you feel that if so many Sharks join you...
There are too many people already.
It takes an army to build a big company.
She's too good.
If I think from the perspective of five years from now,
I need people with varied expertise on the team.
Arpita, if you want all five Sharks,
obviously the valuation will change.
- Come at your last round. - Yes.
- At Rs. 75 crores valuation. - See.
- I will... - I'm okay with that.
- If Aman is on board. - Yes.
Aman has not said yes.
[suspenseful music playing]
I am out.
I believe if I am to give time, it should be to an entrepreneur
- who needs it more. - Absolutely.
Unfortunately, I am out.
- Thank you. - Now...
- Okay, best of luck. - Thank you.
Hi, Sharks. Imagine that you're sitting in a coffee shop
and maybe discussing about some gadgets with your friends.
Suddenly, after a few hours,
...you start seeing the ads for those gadgets everywhere online.
True.
This is very normal these days.
And someone is keeping an eye on your actions.
These are either e-commerce companies or social media giants
and they know you better than your soulmates.
Your habits, personal information, financial information,
and more than that, we're using our phones all the time,
be it banking, browsing,
we do everything online.
Cyber fraudsters are taking advantage of this.
There are 70 crores active internet users in India.
So, to fight this and to protect India from online frauds,
and to make your digital world safe,
we've come up with AI Kavach.
So, AI Kavach is a solution that
Going forward, we'll be adding UPI fraud detection.
Credit card fraud detection and expanding to businesses as well.
And we have already detected 200 plus
So, every digital interaction of yours,
click and touch should become safe. That's our vision.
So, Pratyusha, when and how did you think of protecting
so many Indians from cyber crime?
So, I was ex-product head at Microsoft for identity and security.
And for the last 20 years, we've been living in the USA.
My master's is in computer networks and majoring in computer security.
After that, I worked in CISCO.
And after that Palo Alto Networks, Zscaler and Akamai.
And then I was in Microsoft.
- All big companies. Big chip. - Yeah.
Did you get a good amount of shares in these companies?
Yeah.
You can be a multi-billion dollar person with that itself.
Maybe not billionaire, but it's good,
that's why we could move back to India.
We moved to India at the end of 2021.
I wanted to buy a swing online and it wasn't delivered for two months.
So, that's when I realised that I have been defrauded.
And there was a very beautiful website.
There was nothing wrong with the website. It had an SSL certificate.
It had contact information. There was definitely no virus or malware.
Coming from a security background, that's the basic thing that I check.
- How much was the swing for? - Rs. 5000.
It was very expensive.
I thought that if this is happening with me
and I have 18 years of security experience.
So, you didn't have a problem with losing Rs. 5000,
you were more like how did this happen to me?
Yes, it happened to me.
Exactly. And if this is happening with me,
then imagine India where digitalization
is growing exponentially,
and you'll be surprised that
most of the frauds these days
are happening with 24 to 40-year-olds.
It's happening with techies too.
Even here, it's happened with you, with me.
- It's happened with me. - You too.
In my company, the employees receive a message.
In my name...
Yes, in the CEO's name asking for money.
- That has happened with us too. - Asking to send an Apple card.
You had said that the phone listens to our conversations.
Is it true that the phone is constantly listening?
100 percent, okay?
We'd discuss about visiting India, buying flight tickets
and suddenly all the ads are about travelling to India.
- [laughing] - Get there fast.
And it's very tempting to click it.
Because I want to go, right? I spoke about it.
- So, that's what, they prey on that. - Crazy.
Pratyusha, can you tell us a bit
about what problem do you specifically want to solve?
And how are you going to do it?
From the research I have done, call, message and website
Correct.
Second one, which is a very critical one, is the website because
that link can land from anywhere.
It can be an Instagram ad, a Google ad,
an SMS link or a WhatsApp link.
If you click the link from anywhere,
Correct.
- Yes. - From your software we come to know
...whether this is a fraud website or a fraud SMS.
And calls too.
Like Truecaller, but we don't track any data.
- I'd love to show a demo. - Please show us a demo.
So guys, this is how the homescreen looks like.
Basically, if you go to a fraud website.
So, I have just opened the website
and automatically, less than a second,
...I get an alert that this is potentially fraudulent.
What's fraudulent about this website?
So, one is, tranding saree.
- Tranding instead of trending. - Okay.
But you can't call that as fraud.
That's why I said 40 plus characteristics, like
whether they have social media links,
whether they have phone numbers.
What's mentioned in their return policy?
So you check that and
And if there's an SMS...
So, you get an alert for SMS too?
Yes, even for SMS, like an urgent opening for a job interview, etc.
We can report fraud.
It has a 96 percent accuracy as of now.
What did you test in this that
nobody else could?
Is there something that I can't copy from what you're doing?
Yes, that's the patent.
- The website part... - Yes?
...Google will eventually be the biggest competitor.
Yes.
You'll only have data of your customers.
Google has the data of crores of people globally.
Releasing a feature in companies
like Google and Microsoft isn't easy.
- It'll take five years. - That's true.
I'll not use something like this unless I've been defrauded.
Again, one is a positioning of the app, right?
It's Rs. 99 per year.
Okay, so the pricing is pretty disruptive.
And my channel partners have to be like Jio,
Airtel, by default, their value add-on services.
It should be a bundled product otherwise
there will be a problem with adoption.
- So, what's your vision now? - B2B.
All of you can buy the product. The fraud protection market
right now in India
is worth ¤7 billion.
- Most financial companies... - Correct.
We spend a lot of money.
- Yes. - On fraud detection.
Right.
Have you raised funds so far?
No, I have advisors.
One is the head of product in Google.
And the other one is the CEO of MyUS.
What investment have you taken and at what valuation?
¤10,000 for 0.25 percent of the equity.
And the remaining 0.25 percent has been advisory.
[laughing]
But I have more experience in doing business in India.
I can help you with that. I can help you build connections.
Yes.
I'll give you Rs. 50 lakhs for 4 percent.
If you ask me, I'll say no.
But if you want to, you can.
Pratyusha, I have a different viewpoint regarding this.
Firstly, the fact that
you've come back with so much tech expertise,
...and India used to be a call centre for the world.
Yes.
India's now going into much higher-end technology products.
It's good that this is also an example of it.
You've identified the right problem and you have a proof of concept.
I think you have to figure out your customers.
Whether this will be B2B or B2C,
I think that you've come to Shark Tank, and it's okay,
you've come here a bit early in your journey.
You should come back once you figure out your customer proposition,
then it might be better. But I might be wrong because you have
an offer from Aman.
I'm out.
Pratyusha, I think
what you're building is very interesting,
Aman might be able to help you out better with this than myself.
So, I'm out of this today.
I don't know what business that is as of today,
for that reason, I'll be out today.
But if you make products in a B2B business in the long term,
then please reach out to us, we'll surely try to be your customers.
Awesome. Thank you.
I think you don't have to choose between B2B and B2C.
Correct.
Because I think that the AI model that you're building
- constantly needs to learn. - Correct.
So, even though we don't get Rs. 100,
- but the larger consumer base - Yes.
Yes.
who will use your app for free.
Yeah.
We've to make it so valuable that we at least get the data.
I'm very excited about that purpose. I want that
Um-hmm.
India has such engineering companies.
I think that I'll like to help you the most there.
Because I have fallen many times.
You know, I run an eyewear company.
Yes.
For me to compete for hiring engineers
from a Google and a Microsoft was never easy.
I have built a team of 500 engineers now,
that alone adds value.
Otherwise, building connections is very easy.
Okay.
My offer to you would be
Rs. 50 lakhs for 1.25 percent equity.
Yes.
with them. So, if you're giving them some advisory stake,
I should also be treated and you can judge that.
So, that's my offer.
I'll make my pitch to you as well, because I haven't yet.
[grinning]
And I'd ask you to see what technology goes into this
and what kind of technology will be used for this.
Whoa!
I don't talk about technology
because I also work with technology and I don't have to tell you that.
Right?
I also have 250 engineers now
for R&D.
But I don't show off much.
Airtel is in our building.
We're coming up with a watch in collaboration with Jio.
Amazon and Flipkart know me very well.
The engineering talent
that you're talking about, I feel he might steal your talent
because he also wants that talent.
[music playing]
You're a strong player
in your business.
And I'm good at building a business in India.
You already have your own advisors, you don't need another advisor.
Hmm.
You think about what you want.
And since unfortunately,
the offer is based on valuation,
Okay, thank you.
[music playing]
Getting funded by two guys fighting over a woman.
[music playing]
So, thank you again, you know, to both of you.
Uh, I want both of you.
And my offer is
Peyush Rs. 50 lakhs at 1.25 percent.
And 1.25 percent advisory equity.
And Aman, Rs. 50 lakhs at 1.25 percent.
- Investment plus 1.25 percent equity - What?
You're giving a total of 5 percent
...of your company for Rs. 1 crore.
I need them.
Because I have to expand in India, I don't have a network.
And the experience and company building that they have
- ...is invaluable for me. - Okay, I'm in.
Aman?
I'll do it for you.
- Thank you. - Thank you.
Thank you so much.
Congratulations.
Keep up your incredible work, Pratyusha. Best of luck.
- Good job! - Thanks a lot.
I'll be in touch with all of you for the B2B.
All right, thanks again, bye.
[music playing]
Oh, Bartisans!
Bartisans is here.
[music playing]
Hi, Sharks. I'm Jordan and I don't like loud parties.
Hi, Sharks. I'm Jovita
I like chilling with my close friends on weekends.
Good drinks and good company is my perfect plan.
And my perfect weekend is one where
Jordan and Carl are not at home
and I host a house party
with my female friends, we are having nice cocktails,
and we're just dancing the night away.
What's common between both evenings?
Fabulous drinks, but at home,
how do we manage the hard task of making such fancy drinks?
And as a host, I don't want to serve just juice
to my teetotaller friends. Why can't they have a great drink?
That's why we've launched Bartisans.
A 100 percent natural,
For example, our Raid and Run, which contains Jamun, cumin
and Himalayan pink salt.
It reminds me of my childhood
when I'd steal Jamun from my neighbour's home.
We've packed the same thrill in this bottle.
Making a Bartisans drink is as easy as mixing rum and coke.
We had started Bartisans from our home kitchen.
Today, we have our own manufacturing unit.
Sharks, today, we're asking for
Jovita, we need proof though.
- Of course! - Not for that,
- but that you're his mom. - Oh!
I can't believe it, seriously.
- And you guys are co-founders. - Yes.
- Nice.
Very rare to see a mother-son duo as founders.
- Super cute to see this. - You see a lot of it on Shark Tank.
Especially where the mom starts and the son joins in.
My son started this business
- and I just jumped on the bandwagon. - Ah!
Proud mommy. Lovely!
What's the story behind it?
He started it and you jumped on the bandwagon.
What was that?
I was in Dubai doing my internship.
I was pursuing a degree in hospitality, you see.
I returned at the time of Covid.
They sent me back, so I had to come back!
[hysterical laughter]
I wondered what to do next
as there weren't many jobs in the hospitality field.
We were making drinks for Mom and Dad at home.
Mom and Dad are serial entrepreneurs.
They have run a lot of businesses..
I said let me try and carry on the tradition.
That's how it started.
He mentioned serial entrepreneurs.
I've run too many businesses.
I started with designing wedding invitations.
Post that, we set up a corporate gifting brand
which was Supernatural.
We used to make gift articles
from recycled wood and handmade paper.
It was called Supernatural.
- Supernatural. - Very cool name.
- This one also, lovely. - Yes.
This is thanks to my husband Carl.
He comes up with these fabulous names.
After that...
During the corporate gifting business,
we got to know that many people were buying lighting.
So, we started a lighting brand called Shady Ideas.
I think it was too early for the market.
People didn't accept it.
Chinese lamps had flooded the market.
So, that went downhill.
When Covid hit, we had to shut down our shop.
When Jordan had this idea,
I said, "Please! Can I do this with you?"
When did you start this?
- 2020. - 2020.
Can we try the drinks?
- Of course. - Of course, please.
Radhika, would you like to just come...
- Yes. - Make a cocktail for yourself.
- We thought... - Oh, my! I'd love to.
Yes. [chuckles]
[upbeat music playing]
What do I do?
Please try it.
- Thank you so much. - This is your Jamun Cumin Mocktail.
Thank you.
- To our mocktails. - To our mocktails.
This is our packaging.
- Take any one. - Okay.
This is very good.
- This is very...Which one is this? - Thank you so much.
That's the Smoked Pineapple and Basil.
- Will it fall out? - No, it will not.
This doesn't have the extra sweetness mocktails normally have.
How many calories are in one of these?
An average of 39-65 KCal.
I can taste the ginger in it
- which is very rare. - It's actual ginger juice.
We just squeeze...
If you visit our workshop,
you will see people squeezing out the juice.
- What did you say the shelf life was? - A year.
- One year. - 12 months.
- Yes. - It's pretty good.
I used to love your matte black packaging.
It wouldn't break during shipping.
The black bottle you're talking about
was a concentrated version
which contained a lot of sugar
because the sugar itself was the preservative.
For that reason,
we decided to do ready-to-pours.
Jovita, are all your products priced at 495
- or are there different segments? - No.
There is one segment priced at Rs. 450.
Another one is priced at Rs. 495
and the third one, at Rs. 595.
How many cocktails can this make?
Then there are those small sachets,
and they add a little Tabasco to make the drink.
I wouldn't spend Rs. 150 on a glass..
I mean, it's hard to sell.
Let me give you an example.
You get gin worth Rs. 360
- as well as you get gin for Rs. 3,000 also. - True.
You choose which drink you want to have.
I agree with you totally.
You're targeting premium consumers is what we're trying to say.
Actually, I don't think it is super premium.
I think it's aspirational.
- I agree. - It's upper middle class for now.
We also have a plan to go to a product
that is more accessible.
What is the gross margin in the business?
70%.
Logistics, payment gateway and others is at 20%.
Right now, we are in the process of reducing that.
This 20% was only from Mumbai to pan-India.
- This box is sturdy. - Yes.
Our breakage is only around 1% because of our packaging.
In your opinion, what is the market size of cocktail mixers?
- Any idea? - Not in my opinion,
Are all your sales from your website?
88% is from our website.
Wow!
We'll be doing Rs. 45 lakhs this month.
Net revenue?
Rs. 1.43 crores for the year.
Tell us your profits
for both Rs. 4 crores as well as Rs. 1.43 crores.
- What is the profit? - Rs. 53 lakhs is our loss out of Rs. 1.43 crores.
We could run everything as is,
aim for a slow growth and we don't do loss.
The other way out is we push on marketing.
What we intend to do instead is increase our channels.
Right now, we're D2C focused.
We're a D2C brand but we cannot remain that.
We know that.
We have to go high on retail.
So, the money that we're asking for today
is so that we can make a retail product
and capture the retail market.
- Retail is not cheap or easy. - Yes, it isn't.
You will also have breakage costs in that.
Yes, a little.
- You can't pair the same size with a different costing. - No.
- We'll definitely... Correct. - You'll introduce 100 ml
- at about one-fourth the price. - Like a single...
- That's the aspiration. - Yes.
Yes.
Your branding is superb.
Solid branding. Good product.
I personally feel it's a small business.
I think the market is small
and you're more inclined towards the premium customers
and not the masses.
After a level,
the TAM will keep reducing a little.
For that reason, unfortunately, I'll be out.
Thank you, Aman. Thank you.
I agree with Aman on the TAM bit.
I don't think this has a billion-dollar market.
In fact, I think the market for sugary drinks as well as cocktails
will go down
as the premium segment starts getting more health-conscious.
I'd also suggest that
you gradually grow this as a boutique business.
I don't think the pressure from funding or marketing
could turn this into a big business.
For that reason, I am out, but I wish you all the best.
- Thank you... - And great drink.
Yes, thank you.
- I believe your earlier concentrate business... - Yes.
- Would have done really well in the HORECA industry. - Of course.
Your current B2C segment
is a different type of segment
and will have completely different economics.
Correct.
The next six months will make it clear
whether this business is exciting for you
- in the long term or not. - Correct.
How will you know?
As compared to your projection,
if you achieve profitability with reduced marketability,
then the world is your oyster.
Grow the business as much as possible.
If not, I believe B2B is a big opportunity.
Due to a lack of clarity, I am out today.
I hope that once your business is all set after six months
and you have clarity on whether you're B2C or B2B,
we can talk again.
Thank you so much, Ritesh. Thank you.
- I think you have an ace product for sure. - Thank you.
You need to bring a solid professional on board
who has grown an F&B business like this one.
Who knows how to negotiate with retailers
and fix terms with them.
Otherwise, you can get into a very big problem.
Got it.
I am out. Best of luck.
Your speciality, which I really love,
is that you give attention to detail.
That, to me, is a very important attribute in a founder.
For instance, whoever gets this packaging
will find a story on the back.
It is not just a corrugated box.
Thoughtfulness in brand does not come with money,
but with love, patience and effort.
And, of course, you're a failed entrepreneur.
I believe failed entrepreneurs possess a lot of power, okay?
My offer is Rs. 48 lakhs for 3% equity
at a valuation of Rs. 16 crores
and Rs. 52 lakhs in debt at 8% interest
You said you've used their products.
The product is good. I'll be using them too.
[suspenseful music playing]
Vineeta, thank you so much for the offer,
- but we'd like to say no. - Okay.
Simply because we don't wish to take debt now.
Your biggest job is,
don't let it shut down because you've run out of money.
- For sure. - Figure it out, best of luck.
- Thank you. - Please get a finance person to help you.
- All the best. - Thank you, guys.
- Keep winning. Thank you. - Thank you.
[music fades]