1 00:00:10,000 --> 00:00:11,480 [music playing] 2 00:00:13,560 --> 00:00:17,440 'Joining our OG Sharks on Shark Tank India' 3 00:00:17,520 --> 00:00:20,280 'is the MD & CEO of Edelweiss Mutual Fund,' 4 00:00:20,360 --> 00:00:22,600 'the limitless, Radhika Gupta.' 5 00:00:50,680 --> 00:00:51,960 [inspirational music playing] 6 00:00:57,320 --> 00:00:59,520 'My upbringing was quite unique' 7 00:01:00,200 --> 00:01:01,840 'because my father was a diplomat.' 8 00:01:02,480 --> 00:01:05,440 'He represented the government as well as India,' 9 00:01:05,520 --> 00:01:08,160 'and we'd switch countries every three years.' 10 00:01:10,360 --> 00:01:15,040 'I think everything that we are, we owe to our family values.' 11 00:01:15,840 --> 00:01:18,440 'Every time we left a country, Dad would say.' 12 00:01:18,800 --> 00:01:22,400 "That was the past and it's over. Look to the future now." 13 00:01:22,520 --> 00:01:24,520 'Moving on was a value too.' 14 00:01:25,560 --> 00:01:29,200 'When I was 24 years old and I was working in the US, ' 15 00:01:29,280 --> 00:01:30,920 'the country saw a financial crisis.' 16 00:01:31,000 --> 00:01:34,080 'So, I made a very unique decision' 17 00:01:34,160 --> 00:01:36,280 'to come to India and become an entrepreneur.' 18 00:01:36,920 --> 00:01:40,320 'I slogged away in Mumbai for four to five years' 19 00:01:40,400 --> 00:01:44,640 'and built a company called Forefront Capital.' 20 00:01:45,200 --> 00:01:46,800 'And because an opportunity presented itself, ' 21 00:01:46,880 --> 00:01:49,440 'I sold my company to the Edelweiss Group.' 22 00:01:50,520 --> 00:01:53,720 'However, fortune had an exciting role for me.' 23 00:02:18,000 --> 00:02:20,560 'See, risk is such an important function, Archita, ' 24 00:02:20,640 --> 00:02:22,520 'that when we have a default thing, ' 25 00:02:22,680 --> 00:02:24,560 'we finally say, "Let's take up the risk." 26 00:02:25,000 --> 00:02:27,320 In 2017, I got another opportunity 27 00:02:27,400 --> 00:02:29,320 to build another start-up 28 00:02:34,400 --> 00:02:35,600 [inspirational music playing] 29 00:02:37,960 --> 00:02:42,160 We've closed our largest-ever equity NFO at Rs. 1,000 crores. 30 00:02:42,240 --> 00:02:44,200 We've covered 60 cities. 31 00:02:44,280 --> 00:02:48,480 We've travelled over the length and breadth of the country, 32 00:02:48,560 --> 00:02:50,360 and I think this is just the beginning. 33 00:02:50,560 --> 00:02:51,720 Cheers to all of us. 34 00:02:51,920 --> 00:02:53,160 [applause] 35 00:02:57,600 --> 00:03:01,040 In 2018, I took up storytelling classes 36 00:03:01,160 --> 00:03:02,680 after which I gave a talk. 37 00:03:02,800 --> 00:03:04,600 It was called 'The Girl With A Broken Neck' 38 00:03:04,720 --> 00:03:06,480 which released on YouTube. 39 00:03:07,760 --> 00:03:11,040 It had a major impact on my self-confidence. 40 00:03:11,240 --> 00:03:15,640 I learned that faults, challenges, rejections, and problems 41 00:03:15,880 --> 00:03:17,240 are faced by everyone. 42 00:03:17,360 --> 00:03:21,160 They do not make us any less, they only make us human. 43 00:03:23,760 --> 00:03:27,320 I am extremely optimistic for the coming 20 years of India. 44 00:03:27,480 --> 00:03:30,520 I consider myself and others extremely fortunate 45 00:03:30,600 --> 00:03:33,840 to be working in the current Indian era 46 00:03:33,960 --> 00:03:35,240 and building companies. 47 00:03:35,640 --> 00:03:36,960 Say hi! 48 00:03:38,240 --> 00:03:39,640 [inspirational music playing] 49 00:03:41,360 --> 00:03:44,640 The biggest reason for my optimism 50 00:03:44,840 --> 00:03:46,760 is Indian entrepreneurship. 51 00:03:48,120 --> 00:03:53,240 The animal instinct within Indians to build companies 52 00:03:53,360 --> 00:03:54,920 will take the nation forward. 53 00:03:55,400 --> 00:03:56,640 [inspirational music playing] 54 00:04:01,280 --> 00:04:03,480 - Is this your first shoot? - Yes. 55 00:04:03,680 --> 00:04:05,080 The first pitch and first shoot. 56 00:04:05,160 --> 00:04:07,000 So, you and Aman have to be nice to me. 57 00:04:07,160 --> 00:04:09,320 Vineeta knows me. So, she'll be nice to me, I hope. 58 00:04:09,640 --> 00:04:11,200 [theme music playing] 59 00:04:29,360 --> 00:04:30,640 [music fades] 60 00:04:30,920 --> 00:04:32,080 - Hi, Sharks. - Hello. 61 00:04:32,200 --> 00:04:34,040 Every year, lakhs of restaurants 62 00:04:34,120 --> 00:04:37,600 make a grand entry just like a Bollywood film hero, 63 00:04:38,480 --> 00:04:41,280 but they lose to the villain even before the interval. 64 00:04:41,760 --> 00:04:43,080 Excluding Covid, 65 00:04:43,160 --> 00:04:46,640 3 lakh restaurants shut down in the last two years. 66 00:04:46,960 --> 00:04:49,880 Who is the notorious villain of the restaurant industry after all? 67 00:04:50,760 --> 00:04:53,440 Low profits and high staff dependency. 68 00:04:53,880 --> 00:04:57,200 Here to defeat these villains is a new superhero. 69 00:04:57,280 --> 00:04:58,120 Dil Foods. 70 00:04:58,200 --> 00:04:59,400 [music playing] 71 00:05:02,400 --> 00:05:03,400 Greetings, Sharks. 72 00:05:14,400 --> 00:05:16,280 it creates fresh food brands, 73 00:05:16,360 --> 00:05:19,680 and for its last-mile cooking and final distribution, 74 00:05:19,840 --> 00:05:23,760 also does tie-ups with small and big existing restaurants in the country. 75 00:05:23,960 --> 00:05:27,560 Sharks, imagine that a new restaurant has opened up 76 00:05:27,720 --> 00:05:30,280 with a capacity to serve 100 guests daily. 77 00:05:30,760 --> 00:05:33,680 Its staff and resources are ready to tend to 100 guests, 78 00:05:33,760 --> 00:05:35,520 but only 50 guests show up. 79 00:05:35,640 --> 00:05:39,360 So, this restaurant can partner with Dil Foods, 80 00:05:39,600 --> 00:05:42,680 choose from any of our eight cloud brands, 81 00:05:42,880 --> 00:05:45,840 and parallelly operate from their kitchen. 82 00:05:46,400 --> 00:05:49,640 Not only are their resources fully utilised, 83 00:05:49,760 --> 00:05:51,600 but their revenue increases too. 84 00:05:51,680 --> 00:05:55,000 It means, the same kitchen with zero additional investment 85 00:05:55,240 --> 00:05:57,320 and a blockbuster profit! 86 00:05:57,960 --> 00:05:59,480 You must be wondering 87 00:06:13,400 --> 00:06:16,560 We've partnered with over 65 restaurants 88 00:06:16,640 --> 00:06:17,680 in the last 1.5 years 89 00:06:29,200 --> 00:06:31,760 Sharks, we dream of building a sustainable ecosystem 90 00:06:31,840 --> 00:06:34,120 in the restaurant industry 91 00:06:34,240 --> 00:06:36,960 ensuring that no restaurant shuts down due to low revenue 92 00:06:37,040 --> 00:06:39,080 or low profits. 93 00:06:39,360 --> 00:06:43,240 Sharks, we are ready to turn our dream into reality. 94 00:06:43,720 --> 00:06:47,360 And to connect you with our dream, 95 00:06:56,520 --> 00:06:57,880 Baniyas have a saying that goes... 96 00:07:11,560 --> 00:07:14,280 This is so good. The food smells delicious! 97 00:07:14,400 --> 00:07:17,120 Ritesh, what you have there is our Peri Peri Khichdi. 98 00:07:17,240 --> 00:07:20,880 Along with that, there is also Banarasi Chaat in your tray. 99 00:07:20,960 --> 00:07:22,160 This is exciting. 100 00:07:22,240 --> 00:07:25,480 Aman, your tray is of the brand House Of Andhra. 101 00:07:25,960 --> 00:07:29,960 - Radhika, your tray has Chole Kulche from Paharganj. - Ah! 102 00:07:30,240 --> 00:07:34,200 You will also be trying our Tamatar Chaat. 103 00:07:34,280 --> 00:07:37,320 - I think I have Tamatar Chaat too. - Yes, you do. 104 00:07:37,400 --> 00:07:39,560 - Kadhi Chawal. - Yes, you have Kadhi Chawal also. 105 00:07:39,720 --> 00:07:43,240 And Peyush has the famous Litti Chokha from Bihar. 106 00:07:43,320 --> 00:07:44,520 I've never had it before. 107 00:07:44,640 --> 00:07:45,600 You should try it. 108 00:07:45,680 --> 00:07:47,000 The chaat is amazing. 109 00:07:47,120 --> 00:07:48,800 - Thank you so much. - The Tamatar Chaat is outstanding. 110 00:07:48,880 --> 00:07:50,680 Just like the one you get at the 'ghats' in Banaras! 111 00:07:50,800 --> 00:07:52,280 - Wow! Amazing. - Outstanding! 112 00:07:53,160 --> 00:07:55,240 - The Kadhi is yummy. - Thank you. 113 00:07:55,480 --> 00:07:56,680 Where are you from? 114 00:07:56,760 --> 00:07:59,120 I am from Ranchi in Jharkhand. 115 00:08:01,440 --> 00:08:04,920 I am a biotech engineer from MIT, Manipal. 116 00:08:05,000 --> 00:08:07,600 After I graduated, I worked in Himalaya Drug Company 117 00:08:07,720 --> 00:08:09,240 and Reliance Capital. 118 00:08:09,320 --> 00:08:13,200 The turning point in my career came when I joined Swiggy. 119 00:08:13,280 --> 00:08:15,240 - In which year? - 2017 to 2019. 120 00:08:15,360 --> 00:08:16,560 I worked there for two years. 121 00:08:16,640 --> 00:08:17,880 - In Bengaluru? - Yes. 122 00:08:51,480 --> 00:08:54,480 I started a company called Nutnbolt back then. 123 00:09:00,240 --> 00:09:01,920 - We'd tell them that... - Smart. 124 00:09:02,000 --> 00:09:04,800 "You should serve dine-in customers as you're good at that," 125 00:09:04,960 --> 00:09:07,040 "and we will manage your online business." 126 00:09:07,240 --> 00:09:09,320 What we realised was 127 00:09:09,480 --> 00:09:10,760 that if a new stream of revenue 128 00:09:10,920 --> 00:09:13,800 were to be added to the P&L of tail-end restaurants 129 00:09:34,280 --> 00:09:36,720 We took a pivot In April 2022 and set up Dil Foods. 130 00:09:44,280 --> 00:09:46,040 They're servicing their customers too. 131 00:09:46,120 --> 00:09:49,360 98% of the restaurants in India are underutilised. 132 00:10:07,280 --> 00:10:09,320 Let's say you have a potential of 200, 133 00:10:09,400 --> 00:10:11,760 but you're currently fulfilling 50 orders. 134 00:10:11,960 --> 00:10:14,480 For the balance 150 orders, 135 00:10:14,600 --> 00:10:17,480 we will assign brands to you 136 00:10:17,560 --> 00:10:19,320 depending on the geographic presence. 137 00:10:19,400 --> 00:10:21,960 Suppose you're in Powai in Mumbai. 138 00:10:22,040 --> 00:10:23,760 "This is the demography" 139 00:10:23,840 --> 00:10:26,480 "and these are the brands we need to start in this location." 140 00:10:26,640 --> 00:10:28,480 So, we assign those brands to you. 141 00:10:38,560 --> 00:10:40,880 Basically, you convert them into a franchise of your brand. 142 00:10:41,200 --> 00:10:44,200 - It's a virtual franchise of sorts.. - Um, in a virtual way. 143 00:10:44,280 --> 00:10:47,520 - Are these brands yours or do they.. - The brands are owned by us. 144 00:10:47,680 --> 00:10:49,560 - So... - Both the brands and the recipes. 145 00:11:16,280 --> 00:11:18,160 The restaurant's job 146 00:11:18,400 --> 00:11:19,880 is to follow our recipes, 147 00:11:19,960 --> 00:11:24,160 use our supply mixes to regenerate the food, 148 00:11:24,240 --> 00:11:26,240 pack the food in our packaging, 149 00:11:26,400 --> 00:11:27,320 and despatch it. 150 00:11:27,400 --> 00:11:28,840 Who oversees the food quality? 151 00:11:29,000 --> 00:11:30,360 We maintain it. 152 00:11:30,440 --> 00:11:32,160 Don't you have people over there? 153 00:11:32,840 --> 00:11:33,960 No, we do not. 154 00:11:34,040 --> 00:11:36,080 So, you're dependent on the restaurant staff. 155 00:11:36,160 --> 00:11:37,840 They prepare the food and deliver it. 156 00:11:37,960 --> 00:11:39,360 There's no guarantee of the taste. 157 00:11:40,040 --> 00:11:43,280 - You ate the special curry from the House Of Andhra. - Yes. 158 00:11:43,360 --> 00:11:46,240 Water was the only ingredient used to prepare it. 159 00:11:46,880 --> 00:11:49,040 We use freeze-drying for our products 160 00:11:49,160 --> 00:11:50,680 or lyophilization. 161 00:11:50,760 --> 00:11:52,720 After the product is cooked, 162 00:12:03,880 --> 00:12:06,760 The ingredients that they use have been chopped in the morning 163 00:12:06,880 --> 00:12:09,400 which is why there is a presence of microbial growth. 164 00:12:09,600 --> 00:12:11,000 Whereas, our food is freshly cooked 165 00:12:11,080 --> 00:12:16,160 and brought to a temperature of -18°C within 15 minutes, 166 00:12:16,280 --> 00:12:19,680 after which it is freeze-dried and stored. 167 00:12:19,880 --> 00:12:22,800 So, there is no chance 168 00:12:22,880 --> 00:12:26,600 of spoilage in the product. 169 00:12:26,800 --> 00:12:29,360 So, it's fresher than what you get in the restaurants. 170 00:12:46,600 --> 00:12:47,760 Can I see your video? 171 00:12:48,840 --> 00:12:50,200 Instructions for the chef. 172 00:12:50,280 --> 00:12:52,560 This explains the cooking instructions. 173 00:12:52,640 --> 00:12:54,880 This is a powder in dehydrated form. 174 00:12:54,960 --> 00:12:57,160 - Which dish is this? - Butter Paneer. 175 00:12:57,280 --> 00:12:58,880 Does your powder contain butter too? 176 00:12:58,960 --> 00:13:00,560 The powder contains all the ingredients. 177 00:13:00,680 --> 00:13:02,240 Do you supply the paneer too? 178 00:13:02,440 --> 00:13:04,440 We send marinated paneer from our side. 179 00:13:11,920 --> 00:13:13,360 if I order from you. 180 00:13:16,240 --> 00:13:17,480 - Everywhere. - Two-day old... 181 00:13:17,600 --> 00:13:18,640 What does that mean? 182 00:13:19,120 --> 00:13:22,240 Paneer has a shelf life of six days. 183 00:13:22,760 --> 00:13:25,000 All the restaurants... The hotel industry for that matter 184 00:13:25,080 --> 00:13:27,640 replenishes its stock every three days. 185 00:13:27,720 --> 00:13:30,600 I know that on airlines, I will get pre-packaged food. 186 00:13:30,680 --> 00:13:31,920 - I am aware of that. - Yes. 187 00:13:32,000 --> 00:13:34,400 Learning this about restaurants is... 188 00:13:34,480 --> 00:13:36,400 - You're disappointed. - I'm heartbroken. 189 00:13:37,160 --> 00:13:39,080 Is this a special process? Can it be replicated? 190 00:13:39,160 --> 00:13:40,440 Have you engineered this? 191 00:13:40,520 --> 00:13:42,720 This process is widely used in pharma. 192 00:13:42,800 --> 00:13:46,680 Not many people in India in the food industry are doing it. 193 00:13:46,840 --> 00:13:49,440 - Where is your production unit? - In Bengaluru. 194 00:13:49,560 --> 00:13:50,880 - Good. - What is it you're building? 195 00:13:51,040 --> 00:13:52,480 Cloud brands without a kitchen? 196 00:13:52,680 --> 00:13:55,680 Cloud brands with absolutely zero CapEx 197 00:13:59,320 --> 00:14:01,000 - Correct. - From the time of the pivot, 198 00:14:01,080 --> 00:14:03,560 please state your revenue and EBITDA. 199 00:14:03,640 --> 00:14:06,640 Last year was our first year of operations. 200 00:14:06,760 --> 00:14:09,240 Last year's revenue was Rs. 7 crores. 201 00:14:09,320 --> 00:14:10,200 What! 202 00:14:10,600 --> 00:14:13,000 - And loss? - Rs. 1 crore. 203 00:14:15,760 --> 00:14:18,120 - Our sales so far are Rs. 13.16 crores... - Excellent. 204 00:14:39,000 --> 00:14:40,120 Yes. 5% for the... 205 00:14:40,240 --> 00:14:41,960 What's your CapEx investment so far? 206 00:14:42,080 --> 00:14:44,160 Rs. 3.5 crores. 207 00:14:49,240 --> 00:14:51,000 - Your own supply chain! - Yes. 208 00:14:51,520 --> 00:14:53,360 Our logistics cost is extremely low currently. 209 00:14:53,440 --> 00:14:54,560 It is less than 1%. 210 00:15:35,800 --> 00:15:37,760 Arpita, tell us about the funds you've raised. 211 00:15:37,880 --> 00:15:39,640 When we started Dil Foods, 212 00:15:39,640 --> 00:15:42,280 during its inception in April, we raised Rs. 1 crore 213 00:15:42,640 --> 00:15:43,920 from angel investors. 214 00:15:44,040 --> 00:15:47,480 We diluted 7% equity at the time 215 00:15:47,640 --> 00:15:50,000 at a valuation of Rs. 14 crores. 216 00:15:50,280 --> 00:15:53,280 Post that, in September the same year, 217 00:15:53,360 --> 00:15:54,960 we raised a bridge round. 218 00:15:59,920 --> 00:16:02,200 And this year in February, 219 00:16:09,920 --> 00:16:11,680 - Very good. - Rs. 15.5 crores! 220 00:16:11,760 --> 00:16:14,720 Yes, at a valuation of Rs. 75 crores. 221 00:16:18,280 --> 00:16:20,520 We're not here to get capital. 222 00:16:20,920 --> 00:16:23,720 We wish to build a big company 223 00:16:23,920 --> 00:16:28,240 for which we need a lot of experience and expertise. 224 00:16:28,760 --> 00:16:31,040 Challenges will come as we progress. 225 00:16:31,120 --> 00:16:34,200 Then there's stakeholder management and various crises. 226 00:16:34,520 --> 00:16:38,160 So, the perspective of founders in terms of thinking 227 00:16:38,240 --> 00:16:41,200 as well as the help that the founders can provide... 228 00:16:41,320 --> 00:16:44,000 - Um... - Great pitch, Arpita. I will make you an offer. 229 00:16:46,280 --> 00:16:47,800 You understand your consumer, 230 00:16:48,040 --> 00:16:50,800 which is both restaurants and customers, 231 00:16:50,880 --> 00:16:52,000 extremely well. 232 00:16:52,120 --> 00:16:55,280 The insights you gave us were really powerful. 233 00:16:55,360 --> 00:16:57,760 It takes years to get to that level. 234 00:16:57,920 --> 00:17:00,080 There's a saying in our industry. 235 00:17:00,160 --> 00:17:03,080 'During a gold rush, sell shovels.' 236 00:17:03,200 --> 00:17:04,880 - Everyone's running after the gold. - Yes. 237 00:17:04,960 --> 00:17:06,880 Your perspective was 238 00:17:07,000 --> 00:17:10,040 to empower restaurants instead of opening one yourself, 239 00:17:10,200 --> 00:17:12,800 helping them make money as well as providing the customer a service. 240 00:17:12,920 --> 00:17:16,440 So, I think that was very insightful thinking. 241 00:17:16,680 --> 00:17:22,160 I will offer you Rs. 50 lakhs for 0.5% equity, which was your ask. 242 00:17:32,840 --> 00:17:35,560 Could you tell us how restaurants make money? 243 00:17:35,720 --> 00:17:40,240 Their profitability is guaranteed on every product. 244 00:17:40,920 --> 00:17:42,920 Vineeta had Kadhi Chawal. 245 00:19:01,880 --> 00:19:04,520 come to 4.88%. 246 00:19:20,920 --> 00:19:22,160 What is your five-year vision? 247 00:19:22,240 --> 00:19:25,480 We want to become a Rs. 7500-crore company. 248 00:19:25,600 --> 00:19:26,800 Whoa! 249 00:19:27,400 --> 00:19:29,040 Will you do this all organically 250 00:19:29,120 --> 00:19:31,200 or do you think you will be taking the inorganic route too? 251 00:19:31,320 --> 00:19:33,360 We're open to both, Peyush. 252 00:19:33,480 --> 00:19:35,880 We do wish to build a somewhat sustainable business. 253 00:19:35,960 --> 00:19:37,960 We do not want a higher burn. 254 00:19:38,040 --> 00:19:41,440 However, I have no idea about the challenges I can expect 255 00:19:41,520 --> 00:19:42,720 post three years. 256 00:19:42,840 --> 00:19:43,960 [clapping] 257 00:19:44,160 --> 00:19:46,120 You are a darn good businesswoman! 258 00:19:46,200 --> 00:19:48,280 - Thank you. Thank you so much, Radhika. - You are. I mean... 259 00:19:49,040 --> 00:19:51,560 Every five minutes of this conversation, 260 00:19:51,640 --> 00:19:53,680 you've won my heart incrementally! 261 00:19:54,000 --> 00:19:54,960 Thank you so much. 262 00:19:55,040 --> 00:19:56,600 Your business model is exceptional. 263 00:19:56,680 --> 00:19:59,080 You started with profitability. 264 00:19:59,680 --> 00:20:01,800 You wish to run a profitable business. 265 00:20:01,880 --> 00:20:04,640 You have exceptional control over your numbers 266 00:20:04,720 --> 00:20:06,280 and you're running a capital-light business. 267 00:20:06,360 --> 00:20:07,880 I think you are a phenomenal businesswoman. 268 00:20:08,000 --> 00:20:08,840 Thank you. 269 00:20:08,920 --> 00:20:11,680 I won't top Vineeta's offer. I will make you the same offer. 270 00:20:16,680 --> 00:20:19,800 - First off, you have in-depth business knowledge. - Thank you. 271 00:20:19,880 --> 00:20:21,520 I believe the deeper you go, 272 00:20:21,600 --> 00:20:23,560 the more successful your business will be. 273 00:20:23,920 --> 00:20:26,040 I will also offer you Rs. 50 lakhs 274 00:20:26,760 --> 00:20:28,000 at the same percentage. 275 00:20:28,160 --> 00:20:33,200 We will together enable Rs. 1 crore at 1% equity 276 00:20:33,880 --> 00:20:35,920 which means you get more capital 277 00:20:36,240 --> 00:20:38,280 - and more people come on board. - Yes. 278 00:20:38,280 --> 00:20:41,840 Of course, if you want Radhika to join us as well, 279 00:20:42,240 --> 00:20:45,080 all three of us are ready to support you. 280 00:20:45,360 --> 00:20:47,400 You have two options. 281 00:20:47,520 --> 00:20:50,400 One offer is Rs. 1 crore for 1% equity. 282 00:21:00,400 --> 00:21:01,320 You are an incredible entrepreneur. 283 00:21:02,240 --> 00:21:03,800 You are honest, right? 284 00:21:03,920 --> 00:21:06,040 You go into details. You're able to articulate. 285 00:21:06,320 --> 00:21:08,080 You're calm and composed, 286 00:21:08,160 --> 00:21:10,400 - which I think is important for a leader. - Thank you. 287 00:21:10,480 --> 00:21:11,520 You'll do very well. 288 00:21:11,640 --> 00:21:13,400 So, I'll join them in the offer. 289 00:21:14,400 --> 00:21:15,680 I think everybody wants to own 290 00:21:15,760 --> 00:21:17,240 at least half a percent of your business 291 00:21:17,320 --> 00:21:18,600 to make it worth their time. 292 00:21:18,880 --> 00:21:21,560 - Yes. - So, Rs. 50 lakhs each from us. 293 00:21:21,680 --> 00:21:23,320 Now, you have Rs. 2 crore for 2% equity. 294 00:21:32,400 --> 00:21:35,120 Don't you feel that if so many Sharks join you... 295 00:21:35,280 --> 00:21:36,760 There are too many people already. 296 00:21:36,880 --> 00:21:39,960 It takes an army to build a big company. 297 00:21:40,280 --> 00:21:41,280 She's too good. 298 00:21:41,920 --> 00:21:44,360 If I think from the perspective of five years from now, 299 00:21:44,440 --> 00:21:47,600 I need people with varied expertise on the team. 300 00:21:48,000 --> 00:21:50,280 Arpita, if you want all five Sharks, 301 00:21:50,360 --> 00:21:51,840 obviously the valuation will change. 302 00:21:51,960 --> 00:21:52,920 - Come at your last round. - Yes. 303 00:21:53,000 --> 00:21:54,680 - At Rs. 75 crores valuation. - See. 304 00:21:54,800 --> 00:21:56,040 - I will... - I'm okay with that. 305 00:21:56,120 --> 00:21:57,480 - If Aman is on board. - Yes. 306 00:21:57,560 --> 00:21:58,720 Aman has not said yes. 307 00:21:58,840 --> 00:21:59,920 [suspenseful music playing] 308 00:22:01,680 --> 00:22:02,600 I am out. 309 00:22:04,640 --> 00:22:08,320 I believe if I am to give time, it should be to an entrepreneur 310 00:22:08,400 --> 00:22:10,880 - who needs it more. - Absolutely. 311 00:22:10,960 --> 00:22:12,360 Unfortunately, I am out. 312 00:22:12,760 --> 00:22:13,600 - Thank you. - Now... 313 00:22:35,800 --> 00:22:37,520 - Okay, best of luck. - Thank you. 314 00:24:11,720 --> 00:24:15,200 Hi, Sharks. Imagine that you're sitting in a coffee shop 315 00:24:15,360 --> 00:24:18,600 and maybe discussing about some gadgets with your friends. 316 00:24:19,040 --> 00:24:20,400 Suddenly, after a few hours, 317 00:24:20,520 --> 00:24:23,480 ...you start seeing the ads for those gadgets everywhere online. 318 00:24:23,560 --> 00:24:24,560 True. 319 00:24:26,040 --> 00:24:27,920 This is very normal these days. 320 00:24:28,040 --> 00:24:31,560 And someone is keeping an eye on your actions. 321 00:24:32,280 --> 00:24:35,240 These are either e-commerce companies or social media giants 322 00:24:35,400 --> 00:24:37,880 and they know you better than your soulmates. 323 00:24:37,960 --> 00:24:41,160 Your habits, personal information, financial information, 324 00:24:41,280 --> 00:24:44,120 and more than that, we're using our phones all the time, 325 00:24:44,200 --> 00:24:45,960 be it banking, browsing, 326 00:24:46,960 --> 00:24:49,480 we do everything online. 327 00:24:50,040 --> 00:24:53,160 Cyber fraudsters are taking advantage of this. 328 00:24:54,600 --> 00:24:57,800 There are 70 crores active internet users in India. 329 00:25:11,320 --> 00:25:16,040 So, to fight this and to protect India from online frauds, 330 00:25:16,280 --> 00:25:18,680 and to make your digital world safe, 331 00:25:18,760 --> 00:25:21,080 we've come up with AI Kavach. 332 00:25:27,680 --> 00:25:29,600 So, AI Kavach is a solution that 333 00:25:50,160 --> 00:25:52,960 Going forward, we'll be adding UPI fraud detection. 334 00:25:53,040 --> 00:25:56,280 Credit card fraud detection and expanding to businesses as well. 335 00:26:05,120 --> 00:26:07,680 And we have already detected 200 plus 336 00:26:14,600 --> 00:26:16,880 So, every digital interaction of yours, 337 00:26:17,000 --> 00:26:21,360 click and touch should become safe. That's our vision. 338 00:26:32,520 --> 00:26:36,640 So, Pratyusha, when and how did you think of protecting 339 00:26:36,800 --> 00:26:39,520 so many Indians from cyber crime? 340 00:26:39,640 --> 00:26:43,600 So, I was ex-product head at Microsoft for identity and security. 341 00:26:45,120 --> 00:26:48,280 And for the last 20 years, we've been living in the USA. 342 00:26:49,480 --> 00:26:53,360 My master's is in computer networks and majoring in computer security. 343 00:26:53,600 --> 00:26:55,600 After that, I worked in CISCO. 344 00:26:55,720 --> 00:26:59,520 And after that Palo Alto Networks, Zscaler and Akamai. 345 00:26:59,800 --> 00:27:01,680 And then I was in Microsoft. 346 00:27:01,760 --> 00:27:03,720 - All big companies. Big chip. - Yeah. 347 00:27:03,800 --> 00:27:05,920 Did you get a good amount of shares in these companies? 348 00:27:06,000 --> 00:27:06,720 Yeah. 349 00:27:06,880 --> 00:27:09,120 You can be a multi-billion dollar person with that itself. 350 00:27:09,240 --> 00:27:11,400 Maybe not billionaire, but it's good, 351 00:27:11,480 --> 00:27:13,760 that's why we could move back to India. 352 00:27:14,440 --> 00:27:17,160 We moved to India at the end of 2021. 353 00:27:17,240 --> 00:27:20,880 I wanted to buy a swing online and it wasn't delivered for two months. 354 00:27:21,160 --> 00:27:24,960 So, that's when I realised that I have been defrauded. 355 00:27:25,840 --> 00:27:27,680 And there was a very beautiful website. 356 00:27:27,760 --> 00:27:30,520 There was nothing wrong with the website. It had an SSL certificate. 357 00:27:30,720 --> 00:27:33,840 It had contact information. There was definitely no virus or malware. 358 00:27:33,960 --> 00:27:37,200 Coming from a security background, that's the basic thing that I check. 359 00:27:37,320 --> 00:27:39,240 - How much was the swing for? - Rs. 5000. 360 00:27:39,320 --> 00:27:40,520 It was very expensive. 361 00:27:41,920 --> 00:27:44,320 I thought that if this is happening with me 362 00:27:44,400 --> 00:27:47,360 and I have 18 years of security experience. 363 00:27:48,440 --> 00:27:50,520 So, you didn't have a problem with losing Rs. 5000, 364 00:27:50,600 --> 00:27:52,280 you were more like how did this happen to me? 365 00:27:52,360 --> 00:27:53,440 Yes, it happened to me. 366 00:27:53,520 --> 00:27:55,560 Exactly. And if this is happening with me, 367 00:27:55,760 --> 00:27:58,520 then imagine India where digitalization 368 00:27:58,600 --> 00:28:00,360 is growing exponentially, 369 00:28:00,680 --> 00:28:02,080 and you'll be surprised that 370 00:28:02,200 --> 00:28:04,360 most of the frauds these days 371 00:28:04,440 --> 00:28:06,640 are happening with 24 to 40-year-olds. 372 00:28:06,760 --> 00:28:08,080 It's happening with techies too. 373 00:28:08,160 --> 00:28:10,600 Even here, it's happened with you, with me. 374 00:28:10,680 --> 00:28:11,960 - It's happened with me. - You too. 375 00:28:12,040 --> 00:28:14,200 In my company, the employees receive a message. 376 00:28:14,360 --> 00:28:14,800 In my name... 377 00:28:14,880 --> 00:28:16,520 Yes, in the CEO's name asking for money. 378 00:28:16,640 --> 00:28:19,120 - That has happened with us too. - Asking to send an Apple card. 379 00:28:19,720 --> 00:28:22,080 You had said that the phone listens to our conversations. 380 00:28:22,160 --> 00:28:24,440 Is it true that the phone is constantly listening? 381 00:28:24,560 --> 00:28:26,240 100 percent, okay? 382 00:28:26,400 --> 00:28:29,920 We'd discuss about visiting India, buying flight tickets 383 00:28:30,000 --> 00:28:32,640 and suddenly all the ads are about travelling to India. 384 00:28:32,720 --> 00:28:35,080 - [laughing] - Get there fast. 385 00:28:36,400 --> 00:28:38,560 And it's very tempting to click it. 386 00:28:38,680 --> 00:28:42,480 Because I want to go, right? I spoke about it. 387 00:28:43,680 --> 00:28:46,640 - So, that's what, they prey on that. - Crazy. 388 00:28:46,920 --> 00:28:49,240 Pratyusha, can you tell us a bit 389 00:28:49,320 --> 00:28:52,960 about what problem do you specifically want to solve? 390 00:28:53,040 --> 00:28:54,320 And how are you going to do it? 391 00:28:54,440 --> 00:28:58,360 From the research I have done, call, message and website 392 00:29:11,040 --> 00:29:11,880 Correct. 393 00:29:11,880 --> 00:29:15,080 Second one, which is a very critical one, is the website because 394 00:29:15,160 --> 00:29:18,440 that link can land from anywhere. 395 00:29:19,200 --> 00:29:21,520 It can be an Instagram ad, a Google ad, 396 00:29:21,600 --> 00:29:23,960 an SMS link or a WhatsApp link. 397 00:29:24,120 --> 00:29:26,720 If you click the link from anywhere, 398 00:29:57,960 --> 00:29:58,840 Correct. 399 00:29:58,960 --> 00:30:01,760 - Yes. - From your software we come to know 400 00:30:01,960 --> 00:30:04,000 ...whether this is a fraud website or a fraud SMS. 401 00:30:04,080 --> 00:30:04,800 And calls too. 402 00:30:05,000 --> 00:30:07,400 Like Truecaller, but we don't track any data. 403 00:30:31,600 --> 00:30:34,280 - I'd love to show a demo. - Please show us a demo. 404 00:30:35,600 --> 00:30:38,280 So guys, this is how the homescreen looks like. 405 00:30:38,400 --> 00:30:40,800 Basically, if you go to a fraud website. 406 00:30:40,960 --> 00:30:42,800 So, I have just opened the website 407 00:30:42,960 --> 00:30:45,120 and automatically, less than a second, 408 00:30:45,240 --> 00:30:47,320 ...I get an alert that this is potentially fraudulent. 409 00:30:47,400 --> 00:30:48,960 What's fraudulent about this website? 410 00:30:49,040 --> 00:30:50,960 So, one is, tranding saree. 411 00:30:51,040 --> 00:30:52,600 - Tranding instead of trending. - Okay. 412 00:30:52,680 --> 00:30:54,360 But you can't call that as fraud. 413 00:30:54,440 --> 00:30:56,760 That's why I said 40 plus characteristics, like 414 00:30:56,840 --> 00:30:58,440 whether they have social media links, 415 00:30:58,520 --> 00:30:59,920 whether they have phone numbers. 416 00:31:00,160 --> 00:31:02,560 What's mentioned in their return policy? 417 00:31:02,640 --> 00:31:04,120 So you check that and 418 00:31:04,120 --> 00:31:06,040 And if there's an SMS... 419 00:31:06,160 --> 00:31:07,720 So, you get an alert for SMS too? 420 00:31:07,800 --> 00:31:11,680 Yes, even for SMS, like an urgent opening for a job interview, etc. 421 00:31:12,320 --> 00:31:13,840 We can report fraud. 422 00:31:18,000 --> 00:31:20,120 It has a 96 percent accuracy as of now. 423 00:31:20,200 --> 00:31:22,920 What did you test in this that 424 00:31:23,120 --> 00:31:24,400 nobody else could? 425 00:31:25,000 --> 00:31:27,320 Is there something that I can't copy from what you're doing? 426 00:31:27,400 --> 00:31:28,480 Yes, that's the patent. 427 00:31:35,320 --> 00:31:37,560 - The website part... - Yes? 428 00:31:37,680 --> 00:31:40,240 ...Google will eventually be the biggest competitor. 429 00:31:40,320 --> 00:31:41,120 Yes. 430 00:31:41,200 --> 00:31:43,840 You'll only have data of your customers. 431 00:31:43,920 --> 00:31:46,920 Google has the data of crores of people globally. 432 00:31:57,720 --> 00:31:59,960 Releasing a feature in companies 433 00:32:00,040 --> 00:32:02,560 like Google and Microsoft isn't easy. 434 00:32:02,680 --> 00:32:04,280 - It'll take five years. - That's true. 435 00:32:04,840 --> 00:32:09,320 I'll not use something like this unless I've been defrauded. 436 00:32:14,200 --> 00:32:16,320 Again, one is a positioning of the app, right? 437 00:32:16,400 --> 00:32:18,720 It's Rs. 99 per year. 438 00:32:18,920 --> 00:32:21,440 Okay, so the pricing is pretty disruptive. 439 00:32:22,120 --> 00:32:25,000 And my channel partners have to be like Jio, 440 00:32:25,280 --> 00:32:28,240 Airtel, by default, their value add-on services. 441 00:32:28,400 --> 00:32:29,760 It should be a bundled product otherwise 442 00:32:29,840 --> 00:32:31,200 there will be a problem with adoption. 443 00:32:31,280 --> 00:32:33,640 - So, what's your vision now? - B2B. 444 00:32:37,320 --> 00:32:41,160 All of you can buy the product. The fraud protection market 445 00:32:41,280 --> 00:32:43,120 right now in India 446 00:32:43,200 --> 00:32:44,880 is worth ¤7 billion. 447 00:32:48,080 --> 00:32:50,280 - Most financial companies... - Correct. 448 00:32:50,600 --> 00:32:52,080 We spend a lot of money. 449 00:32:52,160 --> 00:32:53,560 - Yes. - On fraud detection. 450 00:32:59,920 --> 00:33:01,280 Right. 451 00:33:02,000 --> 00:33:03,680 Have you raised funds so far? 452 00:33:03,760 --> 00:33:05,320 No, I have advisors. 453 00:33:05,400 --> 00:33:07,600 One is the head of product in Google. 454 00:33:07,680 --> 00:33:10,280 And the other one is the CEO of MyUS. 455 00:33:10,480 --> 00:33:12,400 What investment have you taken and at what valuation? 456 00:33:12,520 --> 00:33:15,840 ¤10,000 for 0.25 percent of the equity. 457 00:33:16,640 --> 00:33:18,760 And the remaining 0.25 percent has been advisory. 458 00:33:24,360 --> 00:33:26,160 [laughing] 459 00:33:27,600 --> 00:33:30,960 But I have more experience in doing business in India. 460 00:33:31,240 --> 00:33:33,320 I can help you with that. I can help you build connections. 461 00:33:33,400 --> 00:33:34,120 Yes. 462 00:33:34,320 --> 00:33:37,000 I'll give you Rs. 50 lakhs for 4 percent. 463 00:33:42,280 --> 00:33:43,720 If you ask me, I'll say no. 464 00:33:43,800 --> 00:33:45,800 But if you want to, you can. 465 00:33:46,520 --> 00:33:50,600 Pratyusha, I have a different viewpoint regarding this. 466 00:33:50,920 --> 00:33:52,720 Firstly, the fact that 467 00:33:53,120 --> 00:33:55,880 you've come back with so much tech expertise, 468 00:33:55,960 --> 00:33:57,800 ...and India used to be a call centre for the world. 469 00:33:57,880 --> 00:33:58,520 Yes. 470 00:33:58,600 --> 00:34:03,480 India's now going into much higher-end technology products. 471 00:34:03,560 --> 00:34:06,160 It's good that this is also an example of it. 472 00:34:06,360 --> 00:34:09,760 You've identified the right problem and you have a proof of concept. 473 00:34:10,040 --> 00:34:12,000 I think you have to figure out your customers. 474 00:34:12,080 --> 00:34:14,400 Whether this will be B2B or B2C, 475 00:34:14,480 --> 00:34:17,120 I think that you've come to Shark Tank, and it's okay, 476 00:34:17,360 --> 00:34:20,080 you've come here a bit early in your journey. 477 00:34:20,280 --> 00:34:22,920 You should come back once you figure out your customer proposition, 478 00:34:23,160 --> 00:34:26,320 then it might be better. But I might be wrong because you have 479 00:34:26,480 --> 00:34:28,000 an offer from Aman. 480 00:34:29,880 --> 00:34:31,200 I'm out. 481 00:34:31,800 --> 00:34:32,920 Pratyusha, I think 482 00:34:33,000 --> 00:34:35,120 what you're building is very interesting, 483 00:34:35,240 --> 00:34:38,760 Aman might be able to help you out better with this than myself. 484 00:34:41,280 --> 00:34:43,280 So, I'm out of this today. 485 00:35:00,880 --> 00:35:03,200 I don't know what business that is as of today, 486 00:35:03,560 --> 00:35:05,560 for that reason, I'll be out today. 487 00:35:06,200 --> 00:35:09,920 But if you make products in a B2B business in the long term, 488 00:35:10,000 --> 00:35:13,320 then please reach out to us, we'll surely try to be your customers. 489 00:35:13,480 --> 00:35:14,800 Awesome. Thank you. 490 00:35:15,520 --> 00:35:18,360 I think you don't have to choose between B2B and B2C. 491 00:35:18,400 --> 00:35:18,920 Correct. 492 00:35:18,960 --> 00:35:21,160 Because I think that the AI model that you're building 493 00:35:21,240 --> 00:35:23,280 - constantly needs to learn. - Correct. 494 00:35:23,440 --> 00:35:25,640 So, even though we don't get Rs. 100, 495 00:35:25,800 --> 00:35:27,120 - but the larger consumer base - Yes. 496 00:35:27,240 --> 00:35:27,640 Yes. 497 00:35:27,720 --> 00:35:29,200 who will use your app for free. 498 00:35:29,280 --> 00:35:29,680 Yeah. 499 00:35:29,800 --> 00:35:32,840 We've to make it so valuable that we at least get the data. 500 00:35:33,480 --> 00:35:36,520 I'm very excited about that purpose. I want that 501 00:35:36,600 --> 00:35:37,000 Um-hmm. 502 00:35:37,040 --> 00:35:39,400 India has such engineering companies. 503 00:35:39,720 --> 00:35:43,120 I think that I'll like to help you the most there. 504 00:35:43,240 --> 00:35:45,320 Because I have fallen many times. 505 00:35:45,400 --> 00:35:46,840 You know, I run an eyewear company. 506 00:35:46,840 --> 00:35:47,320 Yes. 507 00:35:47,440 --> 00:35:50,440 For me to compete for hiring engineers 508 00:35:50,560 --> 00:35:53,040 from a Google and a Microsoft was never easy. 509 00:35:54,440 --> 00:35:56,720 I have built a team of 500 engineers now, 510 00:35:56,920 --> 00:35:58,440 that alone adds value. 511 00:35:58,560 --> 00:36:00,280 Otherwise, building connections is very easy. 512 00:36:00,280 --> 00:36:00,840 Okay. 513 00:36:00,920 --> 00:36:03,600 My offer to you would be 514 00:36:04,240 --> 00:36:07,040 Rs. 50 lakhs for 1.25 percent equity. 515 00:36:13,840 --> 00:36:14,280 Yes. 516 00:36:14,280 --> 00:36:16,440 with them. So, if you're giving them some advisory stake, 517 00:36:16,520 --> 00:36:18,760 I should also be treated and you can judge that. 518 00:36:18,840 --> 00:36:20,240 So, that's my offer. 519 00:36:21,200 --> 00:36:24,080 I'll make my pitch to you as well, because I haven't yet. 520 00:36:24,160 --> 00:36:24,920 [grinning] 521 00:36:25,000 --> 00:36:29,400 And I'd ask you to see what technology goes into this 522 00:36:29,560 --> 00:36:31,760 and what kind of technology will be used for this. 523 00:36:31,840 --> 00:36:34,120 Whoa! 524 00:36:35,520 --> 00:36:37,440 I don't talk about technology 525 00:36:37,520 --> 00:36:40,880 because I also work with technology and I don't have to tell you that. 526 00:36:40,960 --> 00:36:41,680 Right? 527 00:36:41,840 --> 00:36:45,080 I also have 250 engineers now 528 00:36:45,200 --> 00:36:46,440 for R&D. 529 00:36:47,320 --> 00:36:49,200 But I don't show off much. 530 00:36:51,120 --> 00:36:52,840 Airtel is in our building. 531 00:36:52,920 --> 00:36:54,960 We're coming up with a watch in collaboration with Jio. 532 00:36:54,960 --> 00:36:57,480 Amazon and Flipkart know me very well. 533 00:36:58,360 --> 00:37:00,480 The engineering talent 534 00:37:00,560 --> 00:37:03,320 that you're talking about, I feel he might steal your talent 535 00:37:03,400 --> 00:37:04,960 because he also wants that talent. 536 00:37:05,040 --> 00:37:06,840 [music playing] 537 00:37:08,280 --> 00:37:10,160 You're a strong player 538 00:37:10,360 --> 00:37:12,240 in your business. 539 00:37:12,680 --> 00:37:15,320 And I'm good at building a business in India. 540 00:37:16,640 --> 00:37:19,840 You already have your own advisors, you don't need another advisor. 541 00:37:19,920 --> 00:37:20,760 Hmm. 542 00:37:20,840 --> 00:37:22,640 You think about what you want. 543 00:37:24,800 --> 00:37:27,320 And since unfortunately, 544 00:37:27,640 --> 00:37:29,800 the offer is based on valuation, 545 00:37:39,760 --> 00:37:40,360 Okay, thank you. 546 00:37:40,640 --> 00:37:42,360 [music playing] 547 00:37:44,240 --> 00:37:47,200 Getting funded by two guys fighting over a woman. 548 00:37:47,920 --> 00:37:49,480 [music playing] 549 00:37:52,320 --> 00:37:54,680 So, thank you again, you know, to both of you. 550 00:37:54,760 --> 00:37:56,680 Uh, I want both of you. 551 00:37:56,920 --> 00:37:59,360 And my offer is 552 00:38:01,520 --> 00:38:04,640 Peyush Rs. 50 lakhs at 1.25 percent. 553 00:38:04,720 --> 00:38:06,760 And 1.25 percent advisory equity. 554 00:38:07,080 --> 00:38:09,920 And Aman, Rs. 50 lakhs at 1.25 percent. 555 00:38:10,040 --> 00:38:12,560 - Investment plus 1.25 percent equity - What? 556 00:38:24,040 --> 00:38:25,800 You're giving a total of 5 percent 557 00:38:25,880 --> 00:38:27,280 ...of your company for Rs. 1 crore. 558 00:38:27,280 --> 00:38:27,840 I need them. 559 00:38:27,920 --> 00:38:31,800 Because I have to expand in India, I don't have a network. 560 00:38:31,960 --> 00:38:35,960 And the experience and company building that they have 561 00:38:36,080 --> 00:38:38,440 - ...is invaluable for me. - Okay, I'm in. 562 00:38:38,680 --> 00:38:39,680 Aman? 563 00:38:40,320 --> 00:38:41,360 I'll do it for you. 564 00:38:56,640 --> 00:38:57,640 - Thank you. - Thank you. 565 00:38:57,720 --> 00:38:58,840 Thank you so much. 566 00:38:58,920 --> 00:38:59,440 Congratulations. 567 00:38:59,480 --> 00:39:01,200 Keep up your incredible work, Pratyusha. Best of luck. 568 00:39:01,200 --> 00:39:02,280 - Good job! - Thanks a lot. 569 00:39:02,280 --> 00:39:04,320 I'll be in touch with all of you for the B2B. 570 00:39:04,440 --> 00:39:06,640 All right, thanks again, bye. 571 00:39:06,960 --> 00:39:09,600 [music playing] 572 00:40:22,680 --> 00:40:24,320 Oh, Bartisans! 573 00:40:24,800 --> 00:40:26,680 Bartisans is here. 574 00:40:26,840 --> 00:40:29,880 [music playing] 575 00:40:41,400 --> 00:40:43,360 [music playing] 576 00:40:44,960 --> 00:40:47,160 [music playing] 577 00:40:58,040 --> 00:41:02,320 Hi, Sharks. I'm Jordan and I don't like loud parties. 578 00:41:02,800 --> 00:41:04,560 Hi, Sharks. I'm Jovita 579 00:41:09,880 --> 00:41:14,600 I like chilling with my close friends on weekends. 580 00:41:14,680 --> 00:41:17,520 Good drinks and good company is my perfect plan. 581 00:41:17,600 --> 00:41:19,440 And my perfect weekend is one where 582 00:41:19,520 --> 00:41:21,560 Jordan and Carl are not at home 583 00:41:22,720 --> 00:41:24,400 and I host a house party 584 00:41:24,520 --> 00:41:28,120 with my female friends, we are having nice cocktails, 585 00:41:28,200 --> 00:41:30,120 and we're just dancing the night away. 586 00:41:30,200 --> 00:41:32,080 What's common between both evenings? 587 00:41:32,400 --> 00:41:34,760 Fabulous drinks, but at home, 588 00:41:34,880 --> 00:41:37,400 how do we manage the hard task of making such fancy drinks? 589 00:41:37,480 --> 00:41:40,520 And as a host, I don't want to serve just juice 590 00:41:40,640 --> 00:41:44,000 to my teetotaller friends. Why can't they have a great drink? 591 00:41:44,080 --> 00:41:46,480 That's why we've launched Bartisans. 592 00:41:46,560 --> 00:41:48,360 A 100 percent natural, 593 00:41:58,120 --> 00:42:01,240 For example, our Raid and Run, which contains Jamun, cumin 594 00:42:01,520 --> 00:42:03,360 and Himalayan pink salt. 595 00:42:03,440 --> 00:42:05,360 It reminds me of my childhood 596 00:42:05,480 --> 00:42:10,000 when I'd steal Jamun from my neighbour's home. 597 00:42:10,120 --> 00:42:13,960 We've packed the same thrill in this bottle. 598 00:42:14,160 --> 00:42:18,200 Making a Bartisans drink is as easy as mixing rum and coke. 599 00:42:18,600 --> 00:42:22,120 We had started Bartisans from our home kitchen. 600 00:42:22,280 --> 00:42:24,160 Today, we have our own manufacturing unit. 601 00:42:32,640 --> 00:42:35,000 Sharks, today, we're asking for 602 00:42:44,840 --> 00:42:46,280 Jovita, we need proof though. 603 00:42:46,960 --> 00:42:48,680 - Of course! - Not for that, 604 00:42:48,840 --> 00:42:51,040 - but that you're his mom. - Oh! 605 00:42:51,160 --> 00:42:53,280 I can't believe it, seriously. 606 00:42:53,920 --> 00:42:55,720 - And you guys are co-founders. - Yes. 607 00:42:55,800 --> 00:42:56,640 - Yes. - Nice. 608 00:42:56,720 --> 00:42:59,840 Very rare to see a mother-son duo as founders. 609 00:42:59,920 --> 00:43:02,560 - Super cute to see this. - You see a lot of it on Shark Tank. 610 00:43:02,680 --> 00:43:06,200 Especially where the mom starts and the son joins in. 611 00:43:06,280 --> 00:43:08,000 My son started this business 612 00:43:08,080 --> 00:43:09,920 - and I just jumped on the bandwagon. - Ah! 613 00:43:10,000 --> 00:43:11,280 Proud mommy. Lovely! 614 00:43:11,440 --> 00:43:12,560 What's the story behind it? 615 00:43:12,640 --> 00:43:15,000 He started it and you jumped on the bandwagon. 616 00:43:15,080 --> 00:43:15,880 What was that? 617 00:43:15,960 --> 00:43:18,000 I was in Dubai doing my internship. 618 00:43:18,120 --> 00:43:19,880 I was pursuing a degree in hospitality, you see. 619 00:43:20,200 --> 00:43:23,160 I returned at the time of Covid. 620 00:43:23,480 --> 00:43:27,000 They sent me back, so I had to come back! 621 00:43:27,080 --> 00:43:28,280 [hysterical laughter] 622 00:43:28,880 --> 00:43:30,400 I wondered what to do next 623 00:43:30,480 --> 00:43:33,000 as there weren't many jobs in the hospitality field. 624 00:43:33,360 --> 00:43:37,120 We were making drinks for Mom and Dad at home. 625 00:43:37,360 --> 00:43:39,880 Mom and Dad are serial entrepreneurs. 626 00:43:40,800 --> 00:43:42,280 They have run a lot of businesses.. 627 00:43:42,360 --> 00:43:45,840 I said let me try and carry on the tradition. 628 00:43:45,920 --> 00:43:47,640 That's how it started. 629 00:43:47,760 --> 00:43:49,680 He mentioned serial entrepreneurs. 630 00:43:49,760 --> 00:43:51,440 I've run too many businesses. 631 00:43:51,520 --> 00:43:53,960 I started with designing wedding invitations. 632 00:43:54,080 --> 00:43:58,400 Post that, we set up a corporate gifting brand 633 00:43:58,480 --> 00:43:59,760 which was Supernatural. 634 00:43:59,920 --> 00:44:01,760 We used to make gift articles 635 00:44:01,880 --> 00:44:04,200 from recycled wood and handmade paper. 636 00:44:04,320 --> 00:44:05,360 It was called Supernatural. 637 00:44:05,440 --> 00:44:06,840 - Supernatural. - Very cool name. 638 00:44:06,920 --> 00:44:08,600 - This one also, lovely. - Yes. 639 00:44:08,720 --> 00:44:10,440 This is thanks to my husband Carl. 640 00:44:10,520 --> 00:44:12,160 He comes up with these fabulous names. 641 00:44:12,400 --> 00:44:13,800 After that... 642 00:44:13,920 --> 00:44:15,480 During the corporate gifting business, 643 00:44:15,560 --> 00:44:19,560 we got to know that many people were buying lighting. 644 00:44:19,640 --> 00:44:22,840 So, we started a lighting brand called Shady Ideas. 645 00:44:22,920 --> 00:44:24,600 I think it was too early for the market. 646 00:44:24,680 --> 00:44:26,120 People didn't accept it. 647 00:44:26,200 --> 00:44:28,400 Chinese lamps had flooded the market. 648 00:44:28,600 --> 00:44:30,600 So, that went downhill. 649 00:44:30,680 --> 00:44:33,520 When Covid hit, we had to shut down our shop. 650 00:44:33,640 --> 00:44:35,720 When Jordan had this idea, 651 00:44:35,960 --> 00:44:38,520 I said, "Please! Can I do this with you?" 652 00:44:38,600 --> 00:44:39,600 When did you start this? 653 00:44:39,720 --> 00:44:40,800 - 2020. - 2020. 654 00:44:59,480 --> 00:45:00,640 Can we try the drinks? 655 00:45:00,960 --> 00:45:02,200 - Of course. - Of course, please. 656 00:45:02,280 --> 00:45:04,160 Radhika, would you like to just come... 657 00:45:04,360 --> 00:45:05,720 - Yes. - Make a cocktail for yourself. 658 00:45:05,800 --> 00:45:07,160 - We thought... - Oh, my! I'd love to. 659 00:45:07,280 --> 00:45:08,200 Yes. [chuckles] 660 00:45:09,080 --> 00:45:10,360 [upbeat music playing] 661 00:45:12,160 --> 00:45:12,960 What do I do? 662 00:45:31,320 --> 00:45:32,160 Please try it. 663 00:45:32,640 --> 00:45:36,440 - Thank you so much. - This is your Jamun Cumin Mocktail. 664 00:45:36,520 --> 00:45:38,000 Thank you. 665 00:45:41,360 --> 00:45:44,040 - To our mocktails. - To our mocktails. 666 00:45:48,400 --> 00:45:49,800 This is our packaging. 667 00:45:49,880 --> 00:45:50,920 - Take any one. - Okay. 668 00:45:51,040 --> 00:45:52,000 This is very good. 669 00:45:52,360 --> 00:45:53,840 - This is very...Which one is this? - Thank you so much. 670 00:45:53,920 --> 00:45:55,960 That's the Smoked Pineapple and Basil. 671 00:45:57,520 --> 00:45:59,080 - Will it fall out? - No, it will not. 672 00:45:59,160 --> 00:46:02,120 This doesn't have the extra sweetness mocktails normally have. 673 00:46:02,280 --> 00:46:04,160 How many calories are in one of these? 674 00:46:04,360 --> 00:46:07,960 An average of 39-65 KCal. 675 00:46:08,080 --> 00:46:09,840 I can taste the ginger in it 676 00:46:10,280 --> 00:46:12,280 - which is very rare. - It's actual ginger juice. 677 00:46:12,360 --> 00:46:13,400 We just squeeze... 678 00:46:13,480 --> 00:46:15,640 If you visit our workshop, 679 00:46:15,720 --> 00:46:19,280 you will see people squeezing out the juice. 680 00:46:19,360 --> 00:46:21,680 - What did you say the shelf life was? - A year. 681 00:46:21,920 --> 00:46:23,240 - One year. - 12 months. 682 00:46:23,360 --> 00:46:24,360 - Yes. - It's pretty good. 683 00:46:25,160 --> 00:46:28,400 I used to love your matte black packaging. 684 00:46:28,480 --> 00:46:30,400 It wouldn't break during shipping. 685 00:46:30,480 --> 00:46:32,160 The black bottle you're talking about 686 00:46:32,280 --> 00:46:34,120 was a concentrated version 687 00:46:34,200 --> 00:46:35,680 which contained a lot of sugar 688 00:46:35,760 --> 00:46:37,960 because the sugar itself was the preservative. 689 00:46:38,080 --> 00:46:39,200 For that reason, 690 00:46:39,440 --> 00:46:42,000 we decided to do ready-to-pours. 691 00:46:42,800 --> 00:46:46,040 Jovita, are all your products priced at 495 692 00:46:46,120 --> 00:46:47,160 - or are there different segments? - No. 693 00:46:47,280 --> 00:46:49,200 There is one segment priced at Rs. 450. 694 00:46:49,280 --> 00:46:51,120 Another one is priced at Rs. 495 695 00:46:51,200 --> 00:46:52,800 and the third one, at Rs. 595. 696 00:46:52,880 --> 00:46:54,560 How many cocktails can this make? 697 00:47:01,000 --> 00:47:03,480 Then there are those small sachets, 698 00:47:03,560 --> 00:47:05,560 and they add a little Tabasco to make the drink. 699 00:47:05,680 --> 00:47:07,560 I wouldn't spend Rs. 150 on a glass.. 700 00:47:07,640 --> 00:47:09,120 I mean, it's hard to sell. 701 00:47:09,240 --> 00:47:10,320 Let me give you an example. 702 00:47:10,440 --> 00:47:13,040 You get gin worth Rs. 360 703 00:47:13,120 --> 00:47:15,280 - as well as you get gin for Rs. 3,000 also. - True. 704 00:47:15,360 --> 00:47:18,680 You choose which drink you want to have. 705 00:47:18,800 --> 00:47:19,960 I agree with you totally. 706 00:47:20,040 --> 00:47:23,800 You're targeting premium consumers is what we're trying to say. 707 00:47:23,880 --> 00:47:26,280 Actually, I don't think it is super premium. 708 00:47:26,440 --> 00:47:28,280 I think it's aspirational. 709 00:47:28,360 --> 00:47:30,160 - I agree. - It's upper middle class for now. 710 00:47:30,320 --> 00:47:34,000 We also have a plan to go to a product 711 00:47:34,080 --> 00:47:35,480 that is more accessible. 712 00:47:35,560 --> 00:47:37,840 What is the gross margin in the business? 713 00:47:37,960 --> 00:47:39,080 70%. 714 00:47:39,360 --> 00:47:42,400 Logistics, payment gateway and others is at 20%. 715 00:47:42,680 --> 00:47:46,600 Right now, we are in the process of reducing that. 716 00:47:46,800 --> 00:47:50,280 This 20% was only from Mumbai to pan-India. 717 00:48:03,400 --> 00:48:04,840 - This box is sturdy. - Yes. 718 00:48:04,960 --> 00:48:08,480 Our breakage is only around 1% because of our packaging. 719 00:48:09,200 --> 00:48:12,840 In your opinion, what is the market size of cocktail mixers? 720 00:48:12,920 --> 00:48:14,600 - Any idea? - Not in my opinion, 721 00:48:20,400 --> 00:48:22,960 Are all your sales from your website? 722 00:48:23,040 --> 00:48:25,360 88% is from our website. 723 00:48:25,520 --> 00:48:26,400 Wow! 724 00:48:31,520 --> 00:48:34,480 We'll be doing Rs. 45 lakhs this month. 725 00:48:34,680 --> 00:48:35,680 Net revenue? 726 00:48:35,760 --> 00:48:38,440 Rs. 1.43 crores for the year. 727 00:49:01,640 --> 00:49:03,120 Tell us your profits 728 00:49:03,240 --> 00:49:05,680 for both Rs. 4 crores as well as Rs. 1.43 crores. 729 00:49:05,800 --> 00:49:10,080 - What is the profit? - Rs. 53 lakhs is our loss out of Rs. 1.43 crores. 730 00:49:23,960 --> 00:49:26,320 We could run everything as is, 731 00:49:26,440 --> 00:49:29,480 aim for a slow growth and we don't do loss. 732 00:49:29,600 --> 00:49:32,920 The other way out is we push on marketing. 733 00:49:33,040 --> 00:49:36,600 What we intend to do instead is increase our channels. 734 00:49:37,240 --> 00:49:39,160 Right now, we're D2C focused. 735 00:49:39,240 --> 00:49:41,800 We're a D2C brand but we cannot remain that. 736 00:49:42,040 --> 00:49:42,960 We know that. 737 00:49:43,080 --> 00:49:44,640 We have to go high on retail. 738 00:49:44,760 --> 00:49:46,920 So, the money that we're asking for today 739 00:49:47,000 --> 00:49:49,480 is so that we can make a retail product 740 00:49:49,560 --> 00:49:51,080 and capture the retail market. 741 00:49:51,160 --> 00:49:53,040 - Retail is not cheap or easy. - Yes, it isn't. 742 00:49:53,160 --> 00:49:54,840 You will also have breakage costs in that. 743 00:49:54,920 --> 00:49:56,080 Yes, a little. 744 00:49:56,080 --> 00:49:58,120 - You can't pair the same size with a different costing. - No. 745 00:49:58,200 --> 00:50:00,080 - We'll definitely... Correct. - You'll introduce 100 ml 746 00:50:00,160 --> 00:50:01,920 - at about one-fourth the price. - Like a single... 747 00:50:02,040 --> 00:50:03,520 - That's the aspiration. - Yes. 748 00:50:03,600 --> 00:50:04,440 Yes. 749 00:50:05,040 --> 00:50:07,240 Your branding is superb. 750 00:50:07,320 --> 00:50:09,360 Solid branding. Good product. 751 00:50:09,440 --> 00:50:11,720 I personally feel it's a small business. 752 00:50:11,800 --> 00:50:13,520 I think the market is small 753 00:50:13,600 --> 00:50:16,200 and you're more inclined towards the premium customers 754 00:50:16,320 --> 00:50:17,280 and not the masses. 755 00:50:17,440 --> 00:50:18,920 After a level, 756 00:50:19,000 --> 00:50:21,840 the TAM will keep reducing a little. 757 00:50:22,000 --> 00:50:24,680 For that reason, unfortunately, I'll be out. 758 00:50:25,120 --> 00:50:26,640 Thank you, Aman. Thank you. 759 00:50:26,720 --> 00:50:29,520 I agree with Aman on the TAM bit. 760 00:50:29,600 --> 00:50:32,560 I don't think this has a billion-dollar market. 761 00:50:32,800 --> 00:50:36,920 In fact, I think the market for sugary drinks as well as cocktails 762 00:50:37,200 --> 00:50:38,440 will go down 763 00:50:38,520 --> 00:50:41,560 as the premium segment starts getting more health-conscious. 764 00:50:41,680 --> 00:50:43,560 I'd also suggest that 765 00:50:43,640 --> 00:50:48,120 you gradually grow this as a boutique business. 766 00:50:48,240 --> 00:50:51,520 I don't think the pressure from funding or marketing 767 00:50:51,600 --> 00:50:53,400 could turn this into a big business. 768 00:50:53,520 --> 00:50:56,120 For that reason, I am out, but I wish you all the best. 769 00:50:56,200 --> 00:50:57,400 - Thank you... - And great drink. 770 00:50:57,520 --> 00:50:58,760 Yes, thank you. 771 00:51:00,640 --> 00:51:04,200 - I believe your earlier concentrate business... - Yes. 772 00:51:04,360 --> 00:51:07,320 - Would have done really well in the HORECA industry. - Of course. 773 00:51:07,400 --> 00:51:09,640 Your current B2C segment 774 00:51:09,760 --> 00:51:11,120 is a different type of segment 775 00:51:11,200 --> 00:51:13,320 and will have completely different economics. 776 00:51:13,400 --> 00:51:14,320 Correct. 777 00:51:14,880 --> 00:51:17,040 The next six months will make it clear 778 00:51:17,120 --> 00:51:18,760 whether this business is exciting for you 779 00:51:18,840 --> 00:51:20,360 - in the long term or not. - Correct. 780 00:51:20,520 --> 00:51:21,600 How will you know? 781 00:51:21,720 --> 00:51:23,040 As compared to your projection, 782 00:51:23,280 --> 00:51:26,360 if you achieve profitability with reduced marketability, 783 00:51:26,680 --> 00:51:29,000 then the world is your oyster. 784 00:51:29,080 --> 00:51:30,600 Grow the business as much as possible. 785 00:51:30,960 --> 00:51:33,920 If not, I believe B2B is a big opportunity. 786 00:51:34,920 --> 00:51:37,880 Due to a lack of clarity, I am out today. 787 00:51:37,960 --> 00:51:41,760 I hope that once your business is all set after six months 788 00:51:41,880 --> 00:51:43,880 and you have clarity on whether you're B2C or B2B, 789 00:51:44,040 --> 00:51:45,720 we can talk again. 790 00:51:45,800 --> 00:51:47,400 Thank you so much, Ritesh. Thank you. 791 00:51:47,560 --> 00:51:50,160 - I think you have an ace product for sure. - Thank you. 792 00:51:50,240 --> 00:51:53,720 You need to bring a solid professional on board 793 00:51:53,840 --> 00:51:57,640 who has grown an F&B business like this one. 794 00:51:58,000 --> 00:52:00,720 Who knows how to negotiate with retailers 795 00:52:00,840 --> 00:52:02,080 and fix terms with them. 796 00:52:02,160 --> 00:52:04,200 Otherwise, you can get into a very big problem. 797 00:52:04,280 --> 00:52:05,120 Got it. 798 00:52:05,520 --> 00:52:07,960 I am out. Best of luck. 799 00:52:08,280 --> 00:52:11,680 Your speciality, which I really love, 800 00:52:12,200 --> 00:52:14,360 is that you give attention to detail. 801 00:52:14,440 --> 00:52:18,520 That, to me, is a very important attribute in a founder. 802 00:52:18,600 --> 00:52:20,480 For instance, whoever gets this packaging 803 00:52:20,560 --> 00:52:22,840 will find a story on the back. 804 00:52:22,920 --> 00:52:25,080 It is not just a corrugated box. 805 00:52:25,160 --> 00:52:29,120 Thoughtfulness in brand does not come with money, 806 00:52:29,200 --> 00:52:32,040 but with love, patience and effort. 807 00:52:32,120 --> 00:52:34,520 And, of course, you're a failed entrepreneur. 808 00:52:34,600 --> 00:52:37,160 I believe failed entrepreneurs possess a lot of power, okay? 809 00:52:37,360 --> 00:52:40,000 My offer is Rs. 48 lakhs for 3% equity 810 00:52:40,080 --> 00:52:41,760 at a valuation of Rs. 16 crores 811 00:52:41,880 --> 00:52:44,000 and Rs. 52 lakhs in debt at 8% interest 812 00:53:05,600 --> 00:53:07,640 You said you've used their products. 813 00:53:07,800 --> 00:53:09,440 The product is good. I'll be using them too. 814 00:53:10,120 --> 00:53:11,280 [suspenseful music playing] 815 00:53:18,120 --> 00:53:20,680 Vineeta, thank you so much for the offer, 816 00:53:21,240 --> 00:53:23,920 - but we'd like to say no. - Okay. 817 00:53:24,000 --> 00:53:26,680 Simply because we don't wish to take debt now. 818 00:53:26,880 --> 00:53:28,080 Your biggest job is, 819 00:53:28,160 --> 00:53:30,000 don't let it shut down because you've run out of money. 820 00:53:30,080 --> 00:53:31,760 - For sure. - Figure it out, best of luck. 821 00:53:31,920 --> 00:53:33,920 - Thank you. - Please get a finance person to help you. 822 00:53:34,000 --> 00:53:35,280 - All the best. - Thank you, guys. 823 00:53:35,360 --> 00:53:36,960 - Keep winning. Thank you. - Thank you. 824 00:53:41,200 --> 00:53:42,400 [music fades]