1 00:00:10,040 --> 00:00:11,600 [music playing] 2 00:00:29,080 --> 00:00:30,800 [theme music playing] 3 00:00:50,600 --> 00:00:51,600 [music fades] 4 00:00:51,800 --> 00:00:54,120 Sharks, have you ever eaten plastic? 5 00:00:54,920 --> 00:00:56,280 Have you ever eaten chewing gum? 6 00:00:56,360 --> 00:00:57,200 Absolutely. 7 00:00:57,280 --> 00:00:58,920 So, then, you've eaten plastic. 8 00:00:59,040 --> 00:01:01,320 Most of the chewing gums available in the market 9 00:01:01,440 --> 00:01:03,240 contain plastic compounds. 10 00:01:03,680 --> 00:01:07,400 One of these plastic compounds is PVA or polyvinyl acetate. 11 00:01:07,600 --> 00:01:11,120 This polyvinyl acetate is used to make tyres and glue. 12 00:01:11,640 --> 00:01:13,080 It takes over a hundred years 13 00:01:13,200 --> 00:01:15,880 for a tiny piece of chewing gum to biodegrade. 14 00:01:16,800 --> 00:01:19,400 Tyres and chewing gums having the same ingredients 15 00:01:19,520 --> 00:01:20,920 is not right, Sharks. 16 00:01:21,360 --> 00:01:22,560 That's about to change now. 17 00:01:22,720 --> 00:01:23,840 We present to you 18 00:01:55,560 --> 00:01:57,360 We use essential oils, 19 00:02:07,560 --> 00:02:09,760 athletes and celebrities. 20 00:02:09,840 --> 00:02:13,400 Our chewing gums have helped prevent 850 kg of plastic 21 00:02:30,680 --> 00:02:33,880 Sharks, we wish to turn Gud Gum into a legacy brand. 22 00:02:33,960 --> 00:02:37,360 Currently, in India, chewing gums are eaten just for fun, 23 00:02:37,400 --> 00:02:39,960 but we want to endorse the health benefits of chewing gum 24 00:02:40,080 --> 00:02:42,320 and make it an essential lifestyle product. 25 00:02:42,440 --> 00:02:44,520 Our ask is 26 00:02:44,600 --> 00:02:46,960 your invaluable expertise and guidance 27 00:02:55,640 --> 00:02:56,720 All right. 28 00:02:56,960 --> 00:02:58,440 Welcome to Shark Tank. 29 00:02:58,520 --> 00:02:59,560 - Thank you. - Just a caveat. 30 00:02:59,720 --> 00:03:02,600 - We've met before virtually. - Yes. 31 00:03:02,680 --> 00:03:03,680 It was over a year ago. 32 00:03:03,760 --> 00:03:05,480 - Um, nine months ago. - Right. 33 00:03:05,480 --> 00:03:06,600 How old are you? 34 00:03:06,720 --> 00:03:08,680 - I'm 24. - I'm 29. 35 00:03:08,800 --> 00:03:10,640 You look very young. What's your background? 36 00:03:10,760 --> 00:03:13,680 Ma'am, I have completed my Bachelor in Chemical Engineering 37 00:03:13,800 --> 00:03:15,680 from BMS College of Engineering in Bengaluru. 38 00:03:16,040 --> 00:03:19,800 Then I did a Masters in Food Science from the University of Nottingham. 39 00:03:20,080 --> 00:03:21,400 Why did you study food science? 40 00:03:21,480 --> 00:03:22,720 After doing engineering. 41 00:03:23,280 --> 00:03:25,080 I'd read labels since childhood. 42 00:03:25,160 --> 00:03:27,360 I've always been curious about what we're eating. 43 00:03:27,440 --> 00:03:29,920 Food Science was an elective during Chemical Engineering, 44 00:03:30,000 --> 00:03:32,280 and then I did my Masters in Food Tech. 45 00:03:32,360 --> 00:03:33,200 What about you? 46 00:03:33,280 --> 00:03:36,120 I've done my graduation from Christ University, Bengaluru, 47 00:03:36,200 --> 00:03:38,040 specialising in Marketing and Entrepreneurship. 48 00:03:38,120 --> 00:03:39,880 I was always inclined towards sustainability. 49 00:03:40,000 --> 00:03:41,920 I was a part of the Parivarthana Unit 50 00:03:42,040 --> 00:03:43,400 at Christ University 51 00:03:43,480 --> 00:03:46,880 where we did a lot of case studies on microplastics. 52 00:03:46,960 --> 00:03:50,400 Post my graduation, I got into designing and branding. 53 00:03:50,520 --> 00:03:52,040 Then I did hydroponics. 54 00:03:52,120 --> 00:03:54,680 There was a company by the name Freshness, of which I was the CMO. 55 00:03:54,760 --> 00:03:57,520 You're barely 24 years and you've been a CMO! 56 00:03:58,600 --> 00:03:59,600 - Nice. - A small start-up. 57 00:03:59,680 --> 00:04:01,240 - Yes. It was hydroponics. - Right. 58 00:04:01,320 --> 00:04:03,240 Basically, growing plants in water. 59 00:04:03,360 --> 00:04:04,360 Can I have some Gud Gum? 60 00:04:04,440 --> 00:04:05,520 - Sure. - Yes. 61 00:04:06,280 --> 00:04:08,160 I think I've seen you on Instagram. 62 00:04:08,240 --> 00:04:09,120 Oh, fantastic! 63 00:04:09,200 --> 00:04:10,920 How many followers do you have on Instagram? 64 00:04:13,680 --> 00:04:14,520 Great! 65 00:04:18,960 --> 00:04:21,120 - Which products? - Raspberry, Charcoal-Spearmint. 66 00:04:21,240 --> 00:04:22,440 - Give me Strawberry. - The packaging is amazing. 67 00:04:22,720 --> 00:04:23,520 - Love it. - And... 68 00:04:23,600 --> 00:04:24,440 Thank you. 69 00:04:26,680 --> 00:04:28,600 Can you blow bubbles with this? 70 00:04:28,680 --> 00:04:30,400 That depends on your skill. 71 00:04:30,640 --> 00:04:31,920 [chuckling] 72 00:04:32,480 --> 00:04:34,560 - I've to take what no one picked up. - No! 73 00:04:34,920 --> 00:04:36,840 Sir, you should try Charcoal-Spearmint 74 00:04:36,920 --> 00:04:39,480 because you're cool and our mint is cool too. 75 00:04:39,600 --> 00:04:40,560 [laughs] 76 00:04:44,120 --> 00:04:46,600 You've packed chewing gum in a small plastic bag. 77 00:04:46,960 --> 00:04:50,960 When we started, we were using paper packaging. 78 00:04:51,080 --> 00:04:52,760 Humidity is a problem in the Indian market. 79 00:04:52,880 --> 00:04:56,320 The boxes in Mumbai and Delhi started developing stains 80 00:04:56,440 --> 00:04:57,760 because we use xylitol 81 00:04:57,880 --> 00:04:59,920 which absorbs the water in the atmosphere. 82 00:05:00,000 --> 00:05:03,360 Your box says, "Regular chewing gums are made of plastic." 83 00:05:03,480 --> 00:05:04,760 You're selling in plastic too! 84 00:05:05,720 --> 00:05:06,720 We are working on that. 85 00:05:06,840 --> 00:05:08,640 We really didn't want to use plastic, 86 00:05:08,720 --> 00:05:09,800 but this is made of LDPE. 87 00:05:09,880 --> 00:05:11,640 We... This can also be recycled. 88 00:05:11,720 --> 00:05:13,040 What exactly is this? 89 00:05:13,160 --> 00:05:14,360 - This is a sticker. - A sticker. 90 00:05:15,200 --> 00:05:16,800 Mine has blank paper. 91 00:05:16,920 --> 00:05:18,440 Maybe to discard the chewing gum. 92 00:05:18,560 --> 00:05:19,600 - Oh! - Yes, to spit... 93 00:05:19,720 --> 00:05:20,600 - To spit it out. - Yes. 94 00:05:20,720 --> 00:05:21,880 - Oh, nice. - What's it for? 95 00:05:21,960 --> 00:05:23,160 - Good touch. - To spit it out. 96 00:05:23,240 --> 00:05:24,400 Superb concept! 97 00:05:24,520 --> 00:05:25,600 - We always look for paper. - Good idea. 98 00:05:25,720 --> 00:05:27,720 - We always look for paper... - Highly functional. 99 00:05:27,920 --> 00:05:30,720 - We look for tissue paper to dispose of the chewing gum. - True. 100 00:05:30,960 --> 00:05:32,400 The taste is nice. 101 00:05:32,520 --> 00:05:33,680 - Yes, thank you so much. - Thank you, sir. 102 00:05:37,840 --> 00:05:40,360 - We're working on a paper material. - Hmm. 103 00:05:40,480 --> 00:05:43,240 That paper will act as an individual wrapper 104 00:05:43,360 --> 00:05:45,320 and it will have a lamination of biopolymer. 105 00:05:50,040 --> 00:05:52,840 - They have the same-looking chewing gum. - We make it for them. 106 00:05:52,920 --> 00:05:55,040 - It's a co-branded chewing gum. - You make chewing gum for Perfora! 107 00:05:55,120 --> 00:05:56,160 Co-branded chewing gum with Perfora. 108 00:05:56,200 --> 00:05:58,200 We have two flavours for Perfora. 109 00:05:58,240 --> 00:06:00,720 Is that a special range which is good for the teeth? 110 00:06:00,840 --> 00:06:03,160 - Or do all chewing gums... - Take abroad for instance. 111 00:06:03,360 --> 00:06:05,480 In the US and UK, chewing gum is an essential product. 112 00:06:05,520 --> 00:06:07,240 People carry it around in their bags. 113 00:06:07,920 --> 00:06:09,760 Dentistry over there is very expensive. 114 00:06:09,840 --> 00:06:12,840 People can't afford to get cavities 115 00:06:12,920 --> 00:06:14,800 because it is expensive to get fillings. 116 00:06:14,880 --> 00:06:16,280 Do chewing gums prevent cavities? 117 00:06:16,400 --> 00:06:17,560 - This one does. - It's sugarless. 118 00:06:17,640 --> 00:06:20,160 Boomer and the other brands of chewing gum contain sugar. 119 00:06:20,920 --> 00:06:22,160 - Does this contain xylitol? - Yes. 120 00:06:22,240 --> 00:06:25,040 Yes. Xylitol protects your teeth and prevents cavities. 121 00:06:25,160 --> 00:06:26,040 Is xylitol safe? 122 00:06:26,120 --> 00:06:27,280 - Yes. - Yes, it's natural. 123 00:06:27,360 --> 00:06:31,040 When we spoke the last time, I tried your gum. It was terrible. 124 00:06:31,120 --> 00:06:33,600 - Do you remember the input I gave you? - Yes, we do. 125 00:06:33,760 --> 00:06:35,240 The product has drastically improved. 126 00:06:35,320 --> 00:06:36,600 - Thank you so much. - Well done. 127 00:06:42,800 --> 00:06:43,720 22 to 45! 128 00:06:48,680 --> 00:06:49,600 This costs Rs. 100. 129 00:06:49,640 --> 00:06:51,680 - Yes. Rs. 100. I saw that. - It's very expensive. 130 00:06:51,760 --> 00:06:52,800 Yes, it is 2x. 131 00:06:52,840 --> 00:06:55,000 - One box of Orbit comes for Rs. 50. - Forget Orbit. 132 00:06:55,080 --> 00:06:56,960 - You get Boomer and others for a rupee. - Yes! 133 00:06:57,120 --> 00:06:58,200 Those contain sugar, sir. 134 00:06:58,320 --> 00:06:59,800 - They'll give you cavities. - Listen! 135 00:06:59,880 --> 00:07:01,480 Then you'll need to see a dentist. 136 00:07:01,560 --> 00:07:03,760 Tell me why this is costlier. What's the reason? 137 00:07:04,720 --> 00:07:06,760 I have replaced artificial ingredients. 138 00:07:06,840 --> 00:07:08,960 The natural colours 139 00:07:09,000 --> 00:07:11,200 of vegetable and fruit origin are expensive. 140 00:07:11,400 --> 00:07:15,120 Regular chewing gums are made with a gum base of PVA and polyethylene. 141 00:07:15,280 --> 00:07:19,400 - So, that makes up for at least 25% of my gum base cost. - Hmm. 142 00:07:19,480 --> 00:07:21,520 My gum base is expensive for now, 143 00:07:21,600 --> 00:07:25,000 but as we scale in the future, the cost of my gum base will reduce. 144 00:07:25,120 --> 00:07:29,320 Then we will be able to make a better easy-to-buy product. 145 00:07:30,160 --> 00:07:33,760 Our target is to take this close to 75 next year. 146 00:07:33,840 --> 00:07:36,640 When I asked you about your target age group, 147 00:07:37,000 --> 00:07:39,920 - I was very surprised to hear 22 to 45 years. - Okay. 148 00:07:40,000 --> 00:07:43,480 I have not seen many adults eat chewing gum. 149 00:07:44,440 --> 00:07:46,760 Ma'am, they are heavy consumers. Um, people... 150 00:07:46,880 --> 00:07:48,800 - I eat it too. - Yes, a lot of adults do. 151 00:07:48,920 --> 00:07:51,320 Everybody eats chewing gum at least because it helps... 152 00:07:51,400 --> 00:07:53,120 - Yes, helps you be active. - Your cognitive functions. 153 00:07:53,200 --> 00:07:55,640 So, do adults consume chewing gum more than teenagers? 154 00:07:55,720 --> 00:07:58,320 Ma'am, I'll tell you our... I will give you the break up. 155 00:07:58,360 --> 00:08:00,000 Athletes is a big market. 156 00:08:27,000 --> 00:08:28,880 It's a very concentrated market. 157 00:08:29,000 --> 00:08:30,840 There are only three to four big players. 158 00:08:30,960 --> 00:08:33,240 Wrigley's, Perfetti and Lotte. 159 00:08:33,280 --> 00:08:35,600 The Indian chewing gum market size stands at Rs. 1,000 crores. 160 00:08:43,680 --> 00:08:44,600 The total market. 161 00:08:44,680 --> 00:08:46,960 The retail sales value based on the report we... 162 00:08:47,080 --> 00:08:48,360 What's the share of the organised sector? 163 00:08:49,040 --> 00:08:49,840 Organised... 164 00:08:49,920 --> 00:08:52,600 Sir, we're talking about multipacks of chewing gum. 165 00:08:52,720 --> 00:08:56,080 Not the single chewing gum sold at 'paan' shops 166 00:08:56,160 --> 00:08:57,320 but the full packs. 167 00:08:57,400 --> 00:09:01,120 We estimate that to be around 30% which is about Rs. 300 crores. 168 00:09:02,360 --> 00:09:04,000 How could it be that small? 169 00:09:04,080 --> 00:09:06,880 - Small shops with a revenue of Rs. 12 to 13 lakhs... - Yes. 170 00:09:07,000 --> 00:09:09,320 - Also sell chewing gum. - Yes. 171 00:09:09,440 --> 00:09:12,000 So, the market size should be 172 00:09:12,120 --> 00:09:14,240 at least half of that of candies. 173 00:09:14,320 --> 00:09:17,080 - Rs. 1,000 crores is very small. - The ticket size is small. 174 00:09:17,640 --> 00:09:20,040 Small market, a high price, 175 00:09:20,360 --> 00:09:21,520 and it's too sweet for me. 176 00:09:21,760 --> 00:09:22,840 So, I'm out. 177 00:09:23,960 --> 00:09:27,160 Thank you for educating me about this market and the consumer. 178 00:09:27,280 --> 00:09:28,160 Appreciate that. 179 00:09:28,280 --> 00:09:29,080 Thank you, ma'am. 180 00:09:29,200 --> 00:09:30,680 Why would anyone invest in a company 181 00:09:30,760 --> 00:09:32,760 with such big players and a Rs. 1,000 crore market size... 182 00:09:32,880 --> 00:09:35,800 We want to make chewing gum a daily essential product. 183 00:09:35,880 --> 00:09:36,880 - We want to... - How are you going to do that 184 00:09:36,960 --> 00:09:39,640 when big companies like Orbit and others could not? 185 00:09:40,520 --> 00:09:43,000 Correct. Let's take the gummies market for instance. 186 00:09:43,080 --> 00:09:45,440 It was non-existent in India seven years ago. 187 00:09:45,600 --> 00:09:48,720 - Gummies is now a good Rs. 500 to 600 crores market... - Yes 188 00:09:48,800 --> 00:09:50,440 Because of the nutritional benefits. 189 00:09:50,520 --> 00:09:51,840 Hang on a minute. 190 00:09:51,920 --> 00:09:54,560 Correction. A gummy is just a new format 191 00:09:54,680 --> 00:09:56,120 for the same old product. 192 00:09:57,080 --> 00:09:58,680 What you swallowed earlier, 193 00:09:58,760 --> 00:10:00,360 you're now eating in the form of a gummy. 194 00:10:00,880 --> 00:10:04,040 Correct, we want to infuse these functional benefits in chewing gum... 195 00:10:04,120 --> 00:10:05,720 Now, we're talking. Very interesting. 196 00:10:05,840 --> 00:10:09,760 Do you wish to reposition this as a health supplement? 197 00:10:10,320 --> 00:10:11,520 Down the line, yes. 198 00:10:11,600 --> 00:10:13,480 We have formulated a caffeinated chewing gum 199 00:10:13,560 --> 00:10:15,720 which a lot of sportsmen and athletes inquire about. 200 00:10:15,800 --> 00:10:19,480 Cricketers chew a gum for almost 40 overs together. 201 00:10:20,520 --> 00:10:22,800 We're working with a sports psychologist in Hyderabad 202 00:10:22,880 --> 00:10:25,720 who works with the Indian Olympic Archery Team. 203 00:10:25,800 --> 00:10:30,000 And psychologists use chewing gum as a cue to train their brain. 204 00:10:30,160 --> 00:10:31,760 Suppose I'm playing the game 205 00:10:31,840 --> 00:10:34,360 and say I want to change my technique. 206 00:10:34,440 --> 00:10:36,760 - I'm playing defensive and wish to switch to attack. - Hmm. 207 00:10:36,880 --> 00:10:38,520 So, I will chew the gum differently. 208 00:10:38,640 --> 00:10:41,920 Automatically, the brain cues my body to play in that mode. 209 00:10:42,040 --> 00:10:42,840 Very interesting. 210 00:10:42,960 --> 00:10:44,880 Going forward, with regard to our product pipeline, 211 00:10:44,960 --> 00:10:46,680 we want to be the good amongst the bad. 212 00:10:46,800 --> 00:10:49,080 We want to make lollipops, candies 213 00:10:49,160 --> 00:10:50,360 and cough drops. 214 00:11:01,280 --> 00:11:03,000 Our MRP is Rs. 99. 215 00:11:57,840 --> 00:12:00,480 We started sales in April 2022, sir. 216 00:12:24,440 --> 00:12:26,720 Do you have any idea whether those goods got sold? 217 00:12:27,640 --> 00:12:29,960 Sir, in these 20 months of being in business, 218 00:12:30,040 --> 00:12:31,840 - we have not had a single return. - Hmm. 219 00:12:31,920 --> 00:12:35,920 We only provide as much stock as they can sell in a month. 220 00:12:36,000 --> 00:12:36,840 Tell me one thing. 221 00:12:36,960 --> 00:12:39,000 Chewing gums have always had this one problem. 222 00:12:39,120 --> 00:12:40,960 After about 30 minutes, 223 00:12:41,040 --> 00:12:43,000 the taste just goes away all of a sudden. 224 00:12:43,600 --> 00:12:45,760 - Then you're only left with rubber. - Hmm. 225 00:12:45,920 --> 00:12:48,400 - That leaves a bad taste in the mouth. - Hmm. 226 00:12:48,520 --> 00:12:51,000 Aren't you working on a delayed-release chewing gum? 227 00:12:51,960 --> 00:12:54,680 - We have researched a new flavour. - Okay. 228 00:12:54,760 --> 00:12:55,800 It will be sustained-release. 229 00:13:02,240 --> 00:13:05,200 Sir, I make the end-to-end product. 230 00:13:05,320 --> 00:13:06,440 Believe me. 231 00:13:06,520 --> 00:13:08,440 If you eat the chewing gum week on week, 232 00:13:08,560 --> 00:13:10,280 you will see a difference and that's why we've grown... 233 00:13:10,320 --> 00:13:12,040 How many SKUs do you have in total? 234 00:13:12,240 --> 00:13:14,040 We currently have nine SKUs. 235 00:13:15,520 --> 00:13:17,640 I'll make an offer to you. Rs. 50 lakhs for 5% equity. 236 00:13:17,760 --> 00:13:18,600 [gasps] 237 00:13:19,600 --> 00:13:20,480 What? 238 00:13:20,560 --> 00:13:21,400 You're scaring us. 239 00:13:22,080 --> 00:13:24,080 - Wasn't that your ask? - Yes. 240 00:13:24,200 --> 00:13:25,680 - Then accept it. - Plus... 241 00:13:26,200 --> 00:13:27,720 - Plus what now? - Plus royalty 242 00:13:27,800 --> 00:13:30,560 at 5% of your net sales until I get my Rs. 50 lakhs back. 243 00:13:38,040 --> 00:13:39,200 I am enough for you guys. 244 00:13:39,400 --> 00:13:40,800 Hang on a second. 245 00:13:40,920 --> 00:13:42,040 Do you have a problem with royalty? 246 00:13:42,120 --> 00:13:44,000 We don't have a problem with paying royalty, sir. 247 00:13:44,120 --> 00:13:45,840 We want you guys who have... 248 00:13:45,920 --> 00:13:47,960 - Guidance is the main thing that we want. - You built big businesses. 249 00:13:48,080 --> 00:13:49,280 Very nice! 250 00:13:50,280 --> 00:13:52,720 We've seen it as a business until now, 251 00:13:52,840 --> 00:13:54,360 but we want to grow it as a corporate. 252 00:13:54,480 --> 00:13:56,320 We want to be the next Wrigley's, you know? 253 00:13:56,600 --> 00:13:58,400 In India, it should be synonymous... 254 00:13:58,480 --> 00:14:00,840 When you mention chewing gum, people should talk about Gud Gum. 255 00:14:00,920 --> 00:14:02,560 - You're bootstrapped now, right? - Yes, sir. 256 00:14:02,680 --> 00:14:04,000 Then 5% is too low. 257 00:14:04,120 --> 00:14:06,680 Give 10% equity for Rs. 50 lakhs to Aman and me. 258 00:14:15,520 --> 00:14:17,080 if we dilute to such an extent initially, then later... 259 00:14:17,160 --> 00:14:18,600 Come on. 10% in the first round... 260 00:14:18,680 --> 00:14:20,840 It will be difficult for you later on. 261 00:14:22,520 --> 00:14:24,400 - You... - Sir is looking like a fennel seed. 262 00:14:24,480 --> 00:14:26,520 I've been looking at him. He looks like 'saunf'. 263 00:14:26,600 --> 00:14:27,480 'Saunf'! [laughs] 264 00:14:27,600 --> 00:14:29,920 - He's... We have a flavour... - The best! 265 00:14:30,080 --> 00:14:31,280 Best... [laughs] 266 00:14:31,360 --> 00:14:32,400 It resembles one of our flavours. 267 00:14:32,480 --> 00:14:34,320 I'm looking like 'saunf'! What do you mean? 268 00:14:34,560 --> 00:14:35,600 - Sir, you... - I look cool. 269 00:14:35,680 --> 00:14:37,320 - Freshness... - This fennel seed is expensive! 270 00:14:37,680 --> 00:14:38,880 [whimsical music playing] 271 00:14:40,280 --> 00:14:41,920 What do you think? Are you interested? 272 00:14:42,040 --> 00:14:43,400 - Yes, sir, but... - Listen up! 273 00:14:43,440 --> 00:14:44,280 [whistles] Wait. 274 00:14:44,360 --> 00:14:45,760 - Listen, I too... - He's in too. 275 00:14:45,840 --> 00:14:47,480 We'll make a consolidated offer. 276 00:14:47,560 --> 00:14:51,400 Anupam, Ritesh and 'saunf' will come on board. 277 00:14:51,680 --> 00:14:53,120 Rs. 50 lakhs for 10% equity 278 00:15:06,520 --> 00:15:08,120 - Yes. - Vineeta, you were... 279 00:15:08,200 --> 00:15:10,440 I'm thinking Rs. 50 lakhs for 5% equity, 280 00:15:10,520 --> 00:15:11,840 which was the original ask, 281 00:15:12,600 --> 00:15:16,160 with 5% royalty up to Rs. 50 lakhs. 282 00:15:27,680 --> 00:15:29,640 Oh! [laughs] 283 00:15:30,480 --> 00:15:31,800 You asked the wrong Shark! 284 00:15:31,920 --> 00:15:33,240 No. I've seen a few pitches 285 00:15:33,320 --> 00:15:35,160 where Anupam advised the founders against taking royalty. 286 00:15:35,240 --> 00:15:37,320 - A handshake. Amazing. - You have good knowledge. Let's hear from you. 287 00:15:37,400 --> 00:15:40,720 - We'll get the answers to your questions. - Thank you. 288 00:15:40,840 --> 00:15:42,920 - Good one. - Come on, that was great. 289 00:15:43,000 --> 00:15:45,080 - Let me tell you one thing, all right? - Go on. 290 00:15:45,240 --> 00:15:47,480 Had you asked me this question two years ago, 291 00:15:47,600 --> 00:15:50,000 I'd have said no, but I think times have changed. 292 00:15:50,120 --> 00:15:52,200 Royalty will bring a sense of discipline 293 00:15:52,280 --> 00:15:53,560 to keep your company profitable. 294 00:15:53,720 --> 00:15:55,560 - Royalty won't be in perpetuity. - Correct. 295 00:15:55,640 --> 00:15:58,720 I think that DNA will help you a lot going further 296 00:15:58,880 --> 00:16:00,360 to keep the company profitable. 297 00:16:00,440 --> 00:16:03,800 I think, in today's times, it's not a bad thing to consider it. 298 00:16:03,920 --> 00:16:05,240 [music playing] 299 00:16:05,640 --> 00:16:07,680 Make a decision. You have two offers. 300 00:16:07,760 --> 00:16:09,600 Vineeta is giving you a Rs. 10 crore valuation 301 00:16:09,720 --> 00:16:12,400 and those three have offered a valuation of Rs. 5 crores. 302 00:16:12,480 --> 00:16:13,800 The royalty terms are the same. 303 00:16:14,720 --> 00:16:16,160 I'd like to say one thing. 304 00:16:16,240 --> 00:16:18,080 Look at the bigger picture. 305 00:16:18,160 --> 00:16:20,920 - You could build a broader confectionery brand. - Hmm. 306 00:16:21,200 --> 00:16:24,000 - You'll need a place to set up confectionery stores. - Hmm. 307 00:16:24,120 --> 00:16:27,040 Here, you have a company with a chain of hotels 308 00:16:27,760 --> 00:16:30,560 where you could get the chance to open your confectionery stores. 309 00:16:30,640 --> 00:16:32,680 - Think about it. - My friend has stores at the airport 310 00:16:32,760 --> 00:16:34,040 called Rare Planet. 311 00:16:34,160 --> 00:16:35,440 [hysterical laughter] 312 00:16:35,600 --> 00:16:36,840 [music playing] 313 00:16:39,720 --> 00:16:42,880 What would the deal be if all four of you came on board? 314 00:16:43,000 --> 00:16:44,000 There's one deal. 315 00:16:45,120 --> 00:16:45,920 Which one? 316 00:16:46,000 --> 00:16:48,720 Rs. 80 lakhs equity split four ways at 10% equity and 5% royalty. 317 00:16:48,840 --> 00:16:50,400 What if we reduce the royalty or cut it out? 318 00:16:50,480 --> 00:16:51,520 You have only one deal now. 319 00:16:51,600 --> 00:16:52,960 Yes, just one deal. 320 00:16:53,440 --> 00:16:54,520 [gripping music playing] 321 00:16:54,720 --> 00:16:55,520 Four of us. 322 00:17:24,200 --> 00:17:25,440 [music concludes] 323 00:17:25,800 --> 00:17:27,600 Okay, let's do it. 324 00:17:44,480 --> 00:17:45,320 Thank you. 325 00:17:45,440 --> 00:17:46,840 - Tony Stark! - Thank you. 326 00:17:46,920 --> 00:17:48,080 Oh my God! 327 00:18:03,640 --> 00:18:04,840 [music concludes] 328 00:19:38,920 --> 00:19:41,360 [theme music playing] 329 00:19:45,160 --> 00:19:48,320 [theme music intensifies] 330 00:19:54,520 --> 00:19:55,760 A cancer patient. 331 00:19:56,560 --> 00:19:59,760 What do you picturise when I say this word? 332 00:20:00,280 --> 00:20:03,680 A person who lost their hair 333 00:20:03,760 --> 00:20:07,760 or they are wearing a wig or a scarf to cover their head. 334 00:20:08,520 --> 00:20:10,360 Sharks, you aren't wrong. 335 00:20:10,400 --> 00:20:13,280 The biggest and most common side effect 336 00:20:13,400 --> 00:20:17,240 of chemotherapy done for cancer treatment is hair loss. 337 00:20:17,920 --> 00:20:22,360 It's so common that it has become the identity of cancer patients. 338 00:20:22,560 --> 00:20:24,960 Chemotherapy has many side effects. 339 00:20:25,120 --> 00:20:28,720 Patients face all these side effects and overcome them. 340 00:20:28,840 --> 00:20:31,360 However, when they lose hair, 341 00:20:31,520 --> 00:20:34,240 they lose confidence. 342 00:20:34,320 --> 00:20:36,320 Approximately, 8% of the patients 343 00:20:36,400 --> 00:20:38,120 refuse to undergo chemotherapy 344 00:20:49,640 --> 00:20:52,040 [upbeat music playing] 345 00:20:52,120 --> 00:20:53,920 Eva Scalp Cooling System 346 00:20:54,000 --> 00:20:56,320 can save a cancer patient from losing their hair. 347 00:20:56,440 --> 00:20:58,160 - Whoa! - Wow! 348 00:21:23,560 --> 00:21:25,040 I hail from Hyderabad. 349 00:21:25,160 --> 00:21:28,040 I'm an IIM Ranchi alumnus, 2012. 350 00:21:28,120 --> 00:21:32,480 There's only one solution to hair loss after chemotherapy. 351 00:21:32,680 --> 00:21:34,040 It's well-researched 352 00:21:41,360 --> 00:21:44,640 It sounds like an easy treatment but it isn't. 353 00:21:45,560 --> 00:21:49,120 Maybe that's the reason only three companies in the world 354 00:21:49,320 --> 00:21:51,480 could make this device. 355 00:21:51,600 --> 00:21:53,120 We are the third company to do that. 356 00:22:18,280 --> 00:22:21,800 as those who have hair 357 00:22:22,000 --> 00:22:25,480 and an inner confidence to fight cancer. 358 00:23:02,200 --> 00:23:05,280 It impacted me immensely. 359 00:23:05,360 --> 00:23:07,400 It's always at the back of my mind. 360 00:23:08,400 --> 00:23:12,000 I have been working in the field of cancer for the last eight years. 361 00:23:12,480 --> 00:23:14,680 I spoke to hundreds of patients. 362 00:23:14,760 --> 00:23:17,040 It's not just a cosmetic problem 363 00:23:17,120 --> 00:23:19,800 but a deep-rooted psychological problem. 364 00:23:20,200 --> 00:23:22,720 It increases the chances of depression. 365 00:23:22,800 --> 00:23:24,200 People lose their confidence. 366 00:23:24,280 --> 00:23:27,120 I mean some people. Many people remain confident. 367 00:23:27,480 --> 00:23:30,440 Raghuveer, please tell us about your background. 368 00:23:30,520 --> 00:23:32,160 I'm from Hyderabad. 369 00:23:32,240 --> 00:23:35,400 I pursued engineering at Vasavi College, Osmania University. 370 00:23:38,920 --> 00:23:43,120 I started working at Pfizer in 2012. 371 00:23:45,560 --> 00:23:48,560 I joined Roche three years later. 372 00:23:48,880 --> 00:23:51,360 I joined that company 373 00:23:51,440 --> 00:23:53,640 to launch breast cancer drugs. 374 00:23:54,280 --> 00:23:56,680 I left my job at Roche by the end of 2017 375 00:23:56,800 --> 00:23:58,680 and started Dignite Cancer Care. 376 00:24:07,280 --> 00:24:09,440 Unfortunately, I had to close it down in two years. 377 00:24:09,520 --> 00:24:11,760 All right, it closed down. When did you start this business? 378 00:24:11,840 --> 00:24:13,720 I launched this business in 2020. 379 00:24:13,800 --> 00:24:14,880 What does it do? 380 00:24:35,680 --> 00:24:37,880 This system can be placed between two beds 381 00:24:38,000 --> 00:24:40,040 and can provide treatment to two patients simultaneously. 382 00:24:50,440 --> 00:24:52,200 There are different types of cancers 383 00:25:09,840 --> 00:25:12,160 We select one hour for Post-Infusion. 384 00:25:12,960 --> 00:25:14,920 Now, the machine is ready to be used. 385 00:25:16,120 --> 00:25:17,680 It's one part of the machine. 386 00:25:17,800 --> 00:25:20,840 It's called the mobile cooling unit. 387 00:25:21,520 --> 00:25:23,640 The second part of the machine is this cool cap. 388 00:25:28,040 --> 00:25:30,680 We face a challenge during scalp cooling. 389 00:25:30,760 --> 00:25:35,840 The entire scalp region needs to be cooled. 390 00:25:35,920 --> 00:25:36,840 The entire hairline region. 391 00:25:36,920 --> 00:25:40,400 This cap's design is inspired by a lotus. 392 00:25:40,480 --> 00:25:41,760 It's extremely flexible. 393 00:25:41,840 --> 00:25:45,040 - As you can see, I can fold it and hold it in my hand. - Yes. 394 00:25:45,280 --> 00:25:47,240 I'll show you the demo. 395 00:25:53,960 --> 00:25:57,440 One of you may come here and check the cooling. 396 00:25:58,000 --> 00:25:59,000 Please come. 397 00:25:59,080 --> 00:26:01,440 [intriguing music plays] 398 00:26:01,920 --> 00:26:03,120 I'm going to switch it on. 399 00:26:03,920 --> 00:26:05,160 - It appears to be gel. - Is it water? 400 00:26:05,280 --> 00:26:06,120 - It's cooling. - Gel. 401 00:26:06,200 --> 00:26:07,000 It's extremely cold. 402 00:26:07,080 --> 00:26:09,520 - It's cool. It needs to be worn on the scalp. - Isn't it uncomfortable? 403 00:26:09,760 --> 00:26:12,480 - Yes. - We store such items in the freezer. 404 00:26:12,560 --> 00:26:14,360 - Gel packs. - Gel packs. It's the same thing. 405 00:26:14,440 --> 00:26:15,440 Uh, no. 406 00:26:19,000 --> 00:26:20,760 How long do they have to keep it on the head? 407 00:26:20,880 --> 00:26:23,400 - Three to five hours. It depends. - Please give us a demo. 408 00:26:23,520 --> 00:26:24,560 Yes. 409 00:26:27,000 --> 00:26:29,080 [thrilling music playing] 410 00:26:29,720 --> 00:26:33,240 If a person's head is larger, it will accommodate it. 411 00:26:36,040 --> 00:26:38,080 The second step is covering the head with the insulation cap. 412 00:26:38,200 --> 00:26:40,120 The first cap provides contact 413 00:26:40,200 --> 00:26:43,800 and the second cap gives the required pressure. 414 00:26:43,880 --> 00:26:46,040 Is giving intense cooling medically certified? 415 00:26:46,120 --> 00:26:47,960 It's registered with CDSCO. Yes. 416 00:26:48,040 --> 00:26:50,000 - You said there are only two other companies. - Yes. 417 00:26:52,760 --> 00:26:56,200 I was talking about the coolant we keep in the freezer. 418 00:26:56,280 --> 00:26:59,680 How is it different compared to the coolant we keep in the freezer? 419 00:26:59,760 --> 00:27:03,720 The blood retracts from the body part we cool. 420 00:27:09,400 --> 00:27:12,800 Our coolant reduces the scalp temperature 421 00:27:26,440 --> 00:27:29,480 Why do the hair follicles get damaged due to chemotherapy? 422 00:27:29,720 --> 00:27:32,120 Chemotherapy is meant 423 00:27:32,200 --> 00:27:35,600 to identify the fast-growing cells 424 00:27:35,680 --> 00:27:37,800 of the tumour and destroy them. 425 00:27:37,880 --> 00:27:41,040 The hair follicles in our body parts 426 00:27:41,240 --> 00:27:44,080 are the second fastest healthy growing cells. 427 00:27:44,160 --> 00:27:47,040 Chemotherapy also destroys them mistakenly. 428 00:27:47,120 --> 00:27:49,000 We follow a certain procedure. 429 00:27:49,080 --> 00:27:50,960 During chemotherapy, 430 00:27:51,080 --> 00:27:54,920 we reduce the amount of chemotherapy 431 00:27:55,000 --> 00:27:57,560 being transmitted to the hair follicles. 432 00:28:27,200 --> 00:28:29,520 When patients use scalp cooling, 433 00:28:29,640 --> 00:28:31,880 it helps them have a faster and healthier hair regrowth. 434 00:28:32,000 --> 00:28:33,280 What is the efficacy percentage? 435 00:28:33,360 --> 00:28:34,720 - 50%. - Okay. 436 00:28:34,800 --> 00:28:37,160 Are the other two competitors doing the same thing? 437 00:28:37,520 --> 00:28:38,920 The underlying technology is the same. 438 00:28:39,000 --> 00:28:40,240 What's different in your technology? 439 00:28:40,480 --> 00:28:42,760 The design of the cap has been patented. 440 00:28:47,560 --> 00:28:49,360 As a matter of fact, we are the only ones in Asia. 441 00:28:49,440 --> 00:28:54,080 It's a simple technology. So why are you the only one in the entire Asia? 442 00:28:55,520 --> 00:28:57,640 - It isn't difficult. - That's my question too. 443 00:28:57,760 --> 00:29:00,240 If it's easy, why didn't people think of it earlier? 444 00:29:00,320 --> 00:29:01,840 Why didn't they? Please tell us. 445 00:29:02,000 --> 00:29:04,320 I feel women-related problems 446 00:29:04,760 --> 00:29:07,280 - are overlooked during research. - Ouch! 447 00:29:07,360 --> 00:29:08,920 - Oh! - The thing is... 448 00:29:09,000 --> 00:29:11,480 It's true but not if there's potential. 449 00:29:11,560 --> 00:29:13,800 - Yes and no. - You mean men don't use it. 450 00:29:25,480 --> 00:29:26,640 What are the charges? 451 00:29:41,200 --> 00:29:42,760 We manufactured it. 452 00:29:46,800 --> 00:29:50,320 These cool caps have a life of 50 hours. 453 00:29:58,360 --> 00:30:00,400 What are the sales figures of the remaining two companies? 454 00:30:00,520 --> 00:30:02,760 - India... - No, globally. 455 00:30:04,080 --> 00:30:08,760 Our competitor's last year's sales were around 20 million dollars. 456 00:30:08,880 --> 00:30:10,920 What is the sale in India for these players? 457 00:30:11,000 --> 00:30:13,680 They have sold more than 50 units in the last four years. 458 00:30:13,800 --> 00:30:16,200 - So they are selling products worth Rs. 3-Rs. 4 crores per year. - Yes. 459 00:30:16,280 --> 00:30:18,520 Is there a demand? I'm confused. 460 00:31:12,120 --> 00:31:14,040 Raghuveer, please share your sales figures. 461 00:31:48,640 --> 00:31:52,320 You must reduce the price and focus on the volume... 462 00:31:52,320 --> 00:31:53,440 Increase your business with the capital amount. 463 00:31:53,440 --> 00:31:56,920 Price isn't a barrier to adopting this technology. 464 00:31:57,000 --> 00:31:58,720 It's a barrier if you want to expand 465 00:31:58,800 --> 00:31:59,880 - into smaller cities. - It's not necessary. 466 00:31:59,960 --> 00:32:01,560 I don't think it's a barrier. 467 00:32:01,640 --> 00:32:05,200 I think Rs. 13 lakhs isn't a big amount for medical devices. 468 00:32:05,280 --> 00:32:08,960 - For hospitals. - But, Anupam, it isn't curing the disease. 469 00:32:09,040 --> 00:32:10,960 - Not at this stage... - You aren't curing. 470 00:32:11,120 --> 00:32:13,240 Sell this machine at this price and later on... 471 00:32:13,320 --> 00:32:15,760 - That's right. - Launch a different machine in tier two 472 00:32:15,840 --> 00:32:18,400 - and price it at Rs. 3-Rs. 4 lakhs. That's a good approach. - Right. 473 00:32:19,240 --> 00:32:21,000 What is the projected total revenue for the entire year? 474 00:32:29,360 --> 00:32:30,720 Where did you get it from, how much and when? 475 00:33:01,960 --> 00:33:03,600 We have seen that, right? 476 00:33:03,680 --> 00:33:05,240 How are you tackling that? 477 00:33:05,880 --> 00:33:09,200 Pfizer's former CEO, Mr. Sridhar 478 00:33:09,360 --> 00:33:11,160 is my business advisor. 479 00:33:12,320 --> 00:33:15,040 - I know Mr. Sridhar very well. - Sure. 480 00:33:15,880 --> 00:33:17,640 There is a reason I wanted him on board. 481 00:33:17,720 --> 00:33:19,320 If I want to build a healthcare company, 482 00:33:19,440 --> 00:33:20,640 it's about building trust, 483 00:33:20,640 --> 00:33:22,040 - about building a base... - Relationships! 484 00:33:22,120 --> 00:33:24,240 A strong foundation. That is why I have him on board. 485 00:33:25,960 --> 00:33:27,560 How much cash does the company currently have? 486 00:33:34,600 --> 00:33:37,480 is because I want to obtain approval from the USFDA. 487 00:33:37,640 --> 00:33:40,280 Rs. 30 Lakhs is a strategic investment. 488 00:33:40,360 --> 00:33:43,240 The USFDA will open up many countries 489 00:33:43,360 --> 00:33:45,960 while also establishing credibility in India. 490 00:33:47,440 --> 00:33:50,720 What will be the exit strategy if we invest Rs 30 Lakhs? 491 00:33:50,840 --> 00:33:54,120 Next year, I aim to generate a minimum of Rs. 8 Crores in revenue. 492 00:33:54,200 --> 00:33:56,040 I am looking at a valuation of Rs. 50 Crores. 493 00:33:56,160 --> 00:33:58,080 - What next? - As of now, I have only made plans up until this point. 494 00:33:58,160 --> 00:33:59,440 In the next five years, 495 00:33:59,520 --> 00:34:02,080 my sole plan is for this company to reach a valuation of Rs. 100 Crores. 496 00:34:02,160 --> 00:34:03,720 Okay! I have an offer for you. 497 00:34:04,880 --> 00:34:07,800 Rs. 30 Lakhs for 2%. 498 00:34:17,760 --> 00:34:19,160 When we invest, 499 00:34:19,280 --> 00:34:23,240 most medical devices have 95% efficacy. 500 00:34:23,440 --> 00:34:25,080 But 501 00:34:25,080 --> 00:34:26,640 Mr. Sridhar is your advisor. 502 00:34:26,720 --> 00:34:28,040 So, that got me excited. 503 00:34:28,160 --> 00:34:29,800 Because I have a lot of respect for him. 504 00:34:29,880 --> 00:34:31,680 - The second person is me. - So, he is... 505 00:34:32,000 --> 00:34:34,120 He is probably seeing something 506 00:34:34,200 --> 00:34:36,600 that I am unable to anticipate. 507 00:34:37,800 --> 00:34:39,640 So, it's worth taking a punt 508 00:34:39,720 --> 00:34:41,600 for Rs. 30 Lakhs. Aman, let's do it. 509 00:34:50,560 --> 00:34:52,640 - I am sorry. - He wants to go with them. 510 00:34:53,680 --> 00:34:55,280 I have an offer for you. 511 00:34:55,400 --> 00:34:58,640 I would also introduce you 512 00:34:58,720 --> 00:35:01,520 to two of my friends 513 00:35:01,600 --> 00:35:05,920 who manage extensive cancer care facilities in Gurugram. 514 00:35:06,000 --> 00:35:08,920 You know two people, while I have a larger network. 515 00:35:09,040 --> 00:35:11,280 Of course. Therefore, I believe 516 00:35:11,360 --> 00:35:12,800 that I am giving you a deal. 517 00:35:12,920 --> 00:35:14,760 Regardless of which Shark you choose, 518 00:35:14,840 --> 00:35:17,920 I extend my sincerest wishes for the success 519 00:35:18,160 --> 00:35:20,280 - of your company. - Why are you delivering a lengthy sales pitch? 520 00:35:20,400 --> 00:35:23,360 Just hear me out. You have not presented an offer as of yet. 521 00:35:23,840 --> 00:35:25,120 Let me present an offer at least. 522 00:35:37,640 --> 00:35:39,560 - Good offer. - Impressive, Mr. Raghuveer. 523 00:35:39,640 --> 00:35:41,920 You have truly worked wonders on the Sharks. 524 00:35:42,080 --> 00:35:45,720 I'm facing an issue here. There's a basic principle at play. 525 00:35:47,800 --> 00:35:49,520 Tap into existing demand. 526 00:35:50,440 --> 00:35:51,840 Don't try to create demand. 527 00:35:51,920 --> 00:35:53,600 This approach is what leads to a successful company. 528 00:35:54,240 --> 00:35:57,200 We have collectively estimated the global industry 529 00:35:57,480 --> 00:36:00,080 to be around 60 million dollars. 530 00:36:00,320 --> 00:36:01,960 I'm not convinced about its growth in India. 531 00:36:02,040 --> 00:36:03,240 I have very serious doubts. 532 00:36:03,400 --> 00:36:04,760 So, for those reasons, I am out. 533 00:36:05,440 --> 00:36:06,360 So, all the best. 534 00:36:06,440 --> 00:36:09,600 Okay. Raghuveer, I must commend your courage 535 00:36:09,680 --> 00:36:10,960 in expressing your ambition 536 00:36:11,080 --> 00:36:14,360 to establish a prominent medical device company in India. 537 00:36:14,440 --> 00:36:16,800 You mentioned another point. 538 00:36:16,920 --> 00:36:19,320 There is comparatively less investment 539 00:36:19,400 --> 00:36:21,480 in research concerning women's issues. 540 00:36:21,600 --> 00:36:25,320 So, very happy that a man is investing in it. 541 00:36:25,400 --> 00:36:28,480 I don't think I could help you with this. 542 00:36:28,560 --> 00:36:31,000 So, I am out. 543 00:36:31,120 --> 00:36:33,280 But best of luck! Build a great device company. 544 00:36:34,320 --> 00:36:35,840 It's just three Sharks. 545 00:36:35,920 --> 00:36:37,920 There is potential in you. You will do something. 546 00:36:38,040 --> 00:36:41,240 I, Ritesh and Namita give you an offer. 547 00:36:48,720 --> 00:36:52,040 Aman, Ritesh, and Namita, we have a deal. 548 00:37:01,400 --> 00:37:03,800 Finally, she let someone else invest in a medical deal. 549 00:37:06,760 --> 00:37:08,040 [camera clicks] 550 00:38:20,440 --> 00:38:22,680 Whoa! 551 00:38:23,320 --> 00:38:25,600 This looks like a Chinese company. 552 00:38:25,880 --> 00:38:27,880 - Now observe the level of stress. - That Vineeta experiences. 553 00:38:27,960 --> 00:38:30,520 Oh my God! 554 00:38:30,600 --> 00:38:31,520 I know this brand. 555 00:38:31,600 --> 00:38:34,360 Vineeta is super thrilled. It's an amazing company! 556 00:38:34,480 --> 00:38:36,240 I can't think. 557 00:38:36,960 --> 00:38:39,640 [theme music playing] 558 00:38:58,120 --> 00:39:00,120 22 Crores! 559 00:39:01,160 --> 00:39:03,440 Don't worry. This is not our ask, Sharks. 560 00:39:03,440 --> 00:39:04,720 [Sharks laughing] 561 00:39:14,360 --> 00:39:16,920 These generations possess a remarkable quality 562 00:39:17,040 --> 00:39:18,680 of following their hearts 563 00:39:18,800 --> 00:39:21,800 without being burdened by the opinions of others. 564 00:39:21,880 --> 00:39:24,320 However, do you know what their primary challenge entails? 565 00:39:24,440 --> 00:39:27,720 They lack sufficient funds and patience. 566 00:39:28,000 --> 00:39:30,640 Yet they prefer doing whatever they like. 567 00:39:31,320 --> 00:39:33,280 For instance, they secretly put makeup on 568 00:39:33,360 --> 00:39:36,120 regardless of whether it is appreciated or not. 569 00:39:36,240 --> 00:39:37,840 At some point in their lives, every girl 570 00:39:37,920 --> 00:39:41,880 has borrowed lipstick from their mother, sister, or a friend. 571 00:39:42,040 --> 00:39:44,840 Because teenagers never got approval to put make-up on. 572 00:39:44,960 --> 00:39:46,080 They never needed one. 573 00:39:46,160 --> 00:39:47,600 However, there has never been any assurance 574 00:39:47,680 --> 00:39:50,960 that the products they are using are safe for them or not. 575 00:39:51,080 --> 00:39:53,240 But they still do whatever they want to do. 576 00:39:53,600 --> 00:39:57,360 And for this fearless generation, we have introduced Elitty. 577 00:40:08,560 --> 00:40:11,120 Elitty is a brand for teenagers 578 00:40:11,200 --> 00:40:13,560 that they can own, flaunt, 579 00:40:13,640 --> 00:40:15,200 and proudly claim as theirs. 580 00:40:15,400 --> 00:40:16,920 All our products contain skin-friendly ingredients 581 00:40:17,080 --> 00:40:18,520 suitable for teenagers, 582 00:40:41,280 --> 00:40:42,800 a college fest, 583 00:40:42,920 --> 00:40:45,520 or simply a 'get ready with me' Instagram reel, 584 00:40:45,520 --> 00:40:48,120 Elitty always matches the teenagers' vibe. 585 00:40:48,680 --> 00:40:50,480 We sell our products on websites 586 00:41:12,920 --> 00:41:14,320 - Thank you! Sharks... - And brand. 587 00:41:14,440 --> 00:41:16,800 - Would you like to try our products? - Let's try the products. 588 00:41:17,240 --> 00:41:19,960 [light-hearted music playing] 589 00:41:24,880 --> 00:41:27,640 Thank you so much. 590 00:41:34,040 --> 00:41:35,400 Thank you. 591 00:41:43,120 --> 00:41:45,800 - Lovely names and packaging. - Thank you. 592 00:41:45,880 --> 00:41:48,520 You really give a lot of thought to every pouch... 593 00:41:48,600 --> 00:41:51,200 We launched it after taking a lot of time. 594 00:41:51,280 --> 00:41:52,360 Lovely colours. 595 00:41:52,440 --> 00:41:56,000 You have worked on branding with great attention to detail. 596 00:42:05,760 --> 00:42:06,560 [Sharks laughing] 597 00:42:06,640 --> 00:42:07,520 No? 598 00:42:07,600 --> 00:42:09,560 Sugar Play is our competition. 599 00:42:09,840 --> 00:42:11,000 Okay. 600 00:44:06,760 --> 00:44:09,440 Your eyeliners are very nice. 601 00:44:09,520 --> 00:44:13,960 - Thank you. - Pink and blue colours Pop. - Yes. 602 00:44:14,040 --> 00:44:17,600 The gloss package itself is 603 00:44:18,040 --> 00:44:19,760 incredibly aesthetic and beautiful. 604 00:44:19,880 --> 00:44:20,960 Thank you so much. 605 00:44:32,960 --> 00:44:34,240 - Sure. - Don't tell her. 606 00:44:34,800 --> 00:44:37,760 [Sharks laughing] 607 00:44:40,040 --> 00:44:43,000 Our top shade is the one we are wearing. Lilac. 608 00:44:50,360 --> 00:44:52,280 - they are looking for colours specifically. - Yes. 609 00:44:52,360 --> 00:44:54,040 And you are the first choice for them. 610 00:44:54,160 --> 00:44:55,520 That's her differentiator. 611 00:45:02,160 --> 00:45:03,960 It sells for Rs. 499. 612 00:45:04,280 --> 00:45:06,800 Sugar offers eyeliners and lip glosses 613 00:45:06,800 --> 00:45:08,360 at a comparable price point. 614 00:45:09,400 --> 00:45:10,960 What is the size of the market? 615 00:45:11,040 --> 00:45:13,920 - 6 billion. Around 50... - Around Rs. 50,000 crores. 616 00:45:13,920 --> 00:45:16,480 It all boils down to the difference between organized and unorganized. 617 00:45:16,560 --> 00:45:19,160 No, the market you mentioned, which is worth 50,000 crores, 618 00:45:19,240 --> 00:45:20,800 includes skincare products as well. 619 00:45:20,920 --> 00:45:23,680 The total value of makeup, including both branded and unbranded, 620 00:45:23,760 --> 00:45:26,400 is between Rs. 10,000 crores to 12,000 crores. 621 00:45:26,480 --> 00:45:28,800 Given that you are claiming that there are currently 622 00:45:28,800 --> 00:45:29,960 220 million teenagers. 623 00:45:30,040 --> 00:45:31,680 I believe that considering this, 624 00:45:31,760 --> 00:45:33,840 it could reach a potential of Rs. 2,000 or Rs, 2,500 crores. 625 00:45:33,920 --> 00:45:34,840 Rs. 2,000 or Rs, 2,500 crores. 626 00:45:43,280 --> 00:45:46,240 that is quite unique for us and is underserved. 627 00:45:46,560 --> 00:45:49,360 And we understood their requirements. 628 00:45:49,440 --> 00:45:51,440 Just like they have sensitive skin 629 00:45:51,520 --> 00:45:53,880 and experience hormonal changes. 630 00:45:54,000 --> 00:45:55,680 Keeping this in mind, 631 00:45:55,760 --> 00:45:59,160 the ingredients we use are teen-safe ingredients. 632 00:45:59,240 --> 00:46:02,440 And third, the assortment of products 633 00:46:02,520 --> 00:46:04,280 we selected should go with 634 00:46:04,360 --> 00:46:06,840 the vibe of Gen Z 635 00:46:06,920 --> 00:46:08,960 and teenagers. 636 00:46:09,040 --> 00:46:11,920 No one produces 22 coloured eyeliners in India. 637 00:46:12,040 --> 00:46:13,080 So we are ahead of others. 638 00:46:13,200 --> 00:46:14,560 You mentioned 639 00:46:14,680 --> 00:46:16,520 clean, good ingredients, 640 00:46:16,600 --> 00:46:18,120 - range, assortment... - Assortment and colours. 641 00:46:18,200 --> 00:46:20,560 - These are easy. Everyone is headed that way. - It can be copied. 642 00:46:20,640 --> 00:46:22,200 The entire makeup category. 643 00:46:22,200 --> 00:46:24,040 - It's easy to copy. - Vineeta is sitting here. 644 00:46:24,120 --> 00:46:27,120 In a few years, the entire makeup category will become clean. 645 00:46:27,840 --> 00:46:29,040 - Absolutely! - Right? It is obligatory. 646 00:46:29,120 --> 00:46:31,160 - I think our content is... - Other than this, 647 00:46:31,400 --> 00:46:32,640 there has to be something else. 648 00:46:32,720 --> 00:46:34,400 - No! That's what I am coming to. - I heard the word 'content'. 649 00:46:34,480 --> 00:46:35,720 Yes! 650 00:46:35,800 --> 00:46:37,520 We excel in the field of content marketing. 651 00:46:37,600 --> 00:46:40,360 We have 18,000 followers on Instagram. 652 00:46:43,160 --> 00:46:44,800 graphic eye looks from our eyeliners. 653 00:46:44,920 --> 00:46:47,000 We didn't know about this word, but now we do. 654 00:46:47,080 --> 00:46:48,120 What does 'graphic eye look' mean? 655 00:46:48,200 --> 00:46:49,480 We can show it to you on Instagram. 656 00:46:49,560 --> 00:46:50,920 Wow! Show us the content. 657 00:46:54,760 --> 00:46:56,840 [upbeat music playing] 658 00:46:57,160 --> 00:46:58,960 Now I know what it means. 659 00:47:00,320 --> 00:47:02,120 It's almost like costume makeup. 660 00:47:04,720 --> 00:47:06,440 But not bad. 30,000 likes 661 00:47:06,520 --> 00:47:08,040 - for this video. - Very nice. - This is one of our 662 00:47:08,120 --> 00:47:09,400 - paid promotions. - Is this organic? - Show us more. 663 00:47:09,480 --> 00:47:11,680 - No, this is paid. - She is an influencer. - It's paid. 664 00:47:12,120 --> 00:47:15,080 You upload a lot of collaboration videos. 665 00:47:15,200 --> 00:47:17,960 - We barter mostly for obvious reasons. - We rarely pay. 666 00:47:18,040 --> 00:47:19,360 We have only paid a couple of them. 667 00:47:19,440 --> 00:47:22,160 - Nice! Your content is good and so is your product. - Nice. 668 00:47:22,400 --> 00:47:23,600 Thank you, Aman. 669 00:47:24,840 --> 00:47:25,920 Explain your business. 670 00:47:47,160 --> 00:47:48,640 What will be your earnings from Rs. 2 crores? 671 00:47:48,720 --> 00:47:50,440 We won't make anything now. 672 00:47:50,560 --> 00:47:52,000 Because we are not making any profit. 673 00:47:53,160 --> 00:47:54,720 - Okay. - How much did you make last month? 674 00:47:54,800 --> 00:47:56,560 - Net sales Rs. 11 lakhs - 11 lakhs. 675 00:48:32,880 --> 00:48:33,960 We spent Rs. 4 crores. 676 00:48:34,040 --> 00:48:37,760 Pranali and Vailina, I won't be able to justify 677 00:48:37,840 --> 00:48:40,680 a Rs. 25 crores valuation based on a Rs. 2 crores sale. 678 00:48:40,760 --> 00:48:42,320 Especially because your prior fundraise 679 00:48:42,320 --> 00:48:43,440 was based on that valuation. 680 00:48:43,640 --> 00:48:44,760 It doesn't make sense to me. 681 00:48:45,360 --> 00:48:47,520 So, I am out. But wish you the best. 682 00:48:47,600 --> 00:48:49,680 - But I can't be a part of your journey. - Thank you. 683 00:48:50,280 --> 00:48:52,600 You've come from Chandrapur and Ajmer 684 00:48:52,720 --> 00:48:55,120 and made a bold decision. 685 00:48:55,200 --> 00:48:57,680 You started a makeup brand 686 00:48:57,800 --> 00:49:01,680 where Lilac eyeliner is the best-seller. Incredible! 687 00:49:01,760 --> 00:49:04,360 Very bold women. Congratulations! 688 00:49:04,440 --> 00:49:07,560 And I am out of this deal for two reasons. 689 00:49:07,640 --> 00:49:11,480 Firstly, if there is a loss of approximately Rs. 10 lakhs 690 00:49:11,560 --> 00:49:14,920 on net revenue of Rs. 11 lakhs, 691 00:49:15,040 --> 00:49:19,880 it indicates a negative Contribution Margin. 692 00:49:20,440 --> 00:49:21,360 In the last two months, 693 00:49:21,360 --> 00:49:23,080 the Contribution Margin has remained positive. 694 00:49:23,160 --> 00:49:27,400 The average Contribution Market in the last three months is -23%. 695 00:49:27,480 --> 00:49:30,920 When discussing the months of September and October it is +6%. 696 00:50:35,280 --> 00:50:38,800 As investors, we are uncertain if consumers 697 00:50:39,160 --> 00:50:43,200 are purchasing it willingly or simply due to excessive marketing. 698 00:50:43,280 --> 00:50:44,600 Secondly, I have a suggestion. 699 00:50:44,680 --> 00:50:47,880 - This generation cares about value for money. -Yeah. 700 00:50:48,000 --> 00:50:50,480 You are in close proximity 701 00:50:50,600 --> 00:50:52,440 to the price range of adult brands. 702 00:50:52,520 --> 00:50:54,840 - Yeah. - If you consider reducing the price point 703 00:50:54,920 --> 00:50:56,960 by approximately 40%, 704 00:50:57,040 --> 00:50:59,240 you can unlock numerous opportunities, 705 00:50:59,240 --> 00:51:01,040 including the unbranded market. 706 00:51:01,120 --> 00:51:02,880 Which is very important for younger women. 707 00:51:02,960 --> 00:51:04,640 - Best of luck. - Thank you. 708 00:51:06,240 --> 00:51:08,320 You have Rs. 1 crore left. 709 00:51:08,320 --> 00:51:09,600 What alternative strategy will be implemented 710 00:51:09,680 --> 00:51:11,200 if you don't get the funding? 711 00:51:11,400 --> 00:51:15,520 The current plan is to focus on profitability completely. 712 00:51:15,760 --> 00:51:18,000 - We will make CM2 break even. - Sure? - It's impossible. 713 00:51:18,880 --> 00:51:22,520 Once funded brands and legacy brands 714 00:51:22,800 --> 00:51:24,720 become involved, expenses will inevitably increase. 715 00:51:24,800 --> 00:51:26,520 Customer Acquisition Cost will go up. 716 00:51:26,800 --> 00:51:28,160 how will you make a profit 717 00:51:28,240 --> 00:51:29,760 and grow simultaneously? 718 00:51:30,400 --> 00:51:32,800 We have shifted our channel strategy to make this possible. 719 00:51:32,880 --> 00:51:34,960 Earlier, our primary focus was on our website, 720 00:51:35,040 --> 00:51:38,000 which accounted for 60% of our overall contribution. 721 00:51:38,080 --> 00:51:40,320 Our current focus has shifted towards channel partners, 722 00:51:40,400 --> 00:51:42,160 such as Myntra and Nykaa. 723 00:51:42,240 --> 00:51:44,360 Last month, in October, 724 00:51:53,640 --> 00:51:56,640 The impact is evident, as our CAC 725 00:51:56,720 --> 00:51:58,920 has reached Rs. 1000 on our website. 726 00:51:59,040 --> 00:52:01,760 In October, we managed to bring it down to Rs. 400. 727 00:52:01,840 --> 00:52:05,160 Our CAC is already at Rs. 200 in marketplaces. 728 00:52:05,240 --> 00:52:06,520 So, that works for us. 729 00:52:06,600 --> 00:52:07,960 What was your gross margin again? 730 00:52:32,200 --> 00:52:34,360 And I believe you have the potential 731 00:52:34,480 --> 00:52:36,440 to make significant advancements in this category. 732 00:52:36,640 --> 00:52:38,200 But you are stuck somewhere. 733 00:52:38,520 --> 00:52:40,600 It is imperative to strengthen your brand presence 734 00:52:40,680 --> 00:52:44,080 in the target market. You've understood it well. 735 00:52:44,240 --> 00:52:46,040 But you cannot do that. 736 00:52:46,280 --> 00:52:48,560 - We can. - You cannot, because you don't have money. 737 00:52:50,080 --> 00:52:51,040 Unfortunately, 738 00:52:51,160 --> 00:52:55,120 I cannot take the risk of investing my money in your company. 739 00:52:55,400 --> 00:52:57,960 But I just hope you guys do well. 740 00:52:58,880 --> 00:53:01,040 Sorry! I will have to be out. 741 00:53:01,560 --> 00:53:02,680 Thank you, Aman. 742 00:53:02,800 --> 00:53:06,600 Films are often said to exist solely for the purpose of entertainment. 743 00:53:06,880 --> 00:53:09,480 Similarly, start-ups rely on their customers for success. 744 00:53:09,560 --> 00:53:12,160 You have figured out your target customers. 745 00:53:12,240 --> 00:53:14,160 But the situation that you are currently in 746 00:53:14,240 --> 00:53:15,920 does not look like an easy one to me. 747 00:53:16,400 --> 00:53:18,520 Pranali and you have to discuss how to make the most 748 00:53:18,520 --> 00:53:20,040 of the money you have 749 00:53:20,160 --> 00:53:22,040 and strive to be both profitable 750 00:53:22,240 --> 00:53:23,720 and successful within this budget. 751 00:53:24,440 --> 00:53:27,240 You must determine the course of action. 752 00:53:27,440 --> 00:53:29,920 Due to a lack of clarity, 753 00:53:30,000 --> 00:53:31,200 I am out. 754 00:53:32,040 --> 00:53:34,000 But I want you to make this business successful 755 00:53:34,120 --> 00:53:36,120 because you've figured out your customers. 756 00:53:36,200 --> 00:53:39,520 You need to find a way to escape from the trap you're caught in. 757 00:53:40,960 --> 00:53:43,800 Based on the available funds, it appears that the company 758 00:53:44,040 --> 00:53:47,200 is in a state of uncertainty. Right? 759 00:53:47,280 --> 00:53:49,760 I believed that if we invest Rs. 1 Crore 760 00:53:49,880 --> 00:53:51,680 and focused on it, 761 00:53:51,760 --> 00:53:53,600 we can bring it to a level 762 00:53:53,720 --> 00:53:55,840 - where we have a chance to fight for it. - Yes. 763 00:53:55,920 --> 00:53:58,360 But I can't agree to this valuation and make a deal. 764 00:53:58,440 --> 00:54:00,800 I am happy to make you an offer, you can turn me down. 765 00:54:23,480 --> 00:54:26,840 Return on investment should be economically viable. 766 00:54:27,240 --> 00:54:28,600 I doubt it's possible. 767 00:54:43,080 --> 00:54:45,720 We have experienced significant growth 768 00:54:45,800 --> 00:54:48,240 and launched numerous products between 769 00:54:48,320 --> 00:54:51,080 the pre-seed round and this round. 770 00:54:51,160 --> 00:54:54,280 There is a bottom line that I will not be able to cross. 771 00:55:06,920 --> 00:55:10,560 At this moment, we are unable to perceive the outcome. 772 00:55:10,680 --> 00:55:12,440 So, I am jumping into a pit with you. 773 00:55:13,360 --> 00:55:14,680 We already have the numbers. 774 00:55:14,760 --> 00:55:16,600 It doesn't matter what your numbers say. 775 00:55:16,960 --> 00:55:19,560 In order to be successful, it is imperative to raise funds 776 00:55:19,640 --> 00:55:21,240 while keeping the competition in mind. 777 00:55:21,440 --> 00:55:24,560 We will have to at least raise around Rs. 20 crores. 778 00:55:24,680 --> 00:55:28,720 So, it's a really tough proposition. 779 00:55:28,840 --> 00:55:31,320 We have unique pipelines. 780 00:55:31,400 --> 00:55:33,040 I can't budge. 781 00:55:34,120 --> 00:55:36,520 Let's close this one way or the other. 782 00:55:36,640 --> 00:55:38,080 We would have loved to have you on board, but... 783 00:55:38,160 --> 00:55:40,200 No problem! Thank you for coming to Shark Tank. 784 00:55:40,280 --> 00:55:41,800 - I respect your decision. - Thank you so much. 785 00:55:41,880 --> 00:55:43,000 Good luck, guys! 786 00:55:48,560 --> 00:55:51,240 - Hmm! Okay! - It feels bad. 787 00:55:51,480 --> 00:55:52,840 It's fine. 788 00:55:56,960 --> 00:55:58,960 Welcome to Ask the Shark, friends. 789 00:55:59,080 --> 00:56:01,080 Today we have the pleasure of hosting 790 00:56:01,160 --> 00:56:04,600 Namita Thapar, the Executive Director of Emcure Pharmaceuticals, 791 00:56:04,720 --> 00:56:07,080 - on Ask The Shark. Welcome! - Thank you. 792 00:56:07,200 --> 00:56:10,480 Ma'am, Anurag Jethwani from Kanpur 793 00:56:10,560 --> 00:56:11,760 has a question for you. 794 00:56:21,360 --> 00:56:23,720 I am associated with the founders 795 00:56:23,920 --> 00:56:26,440 - who are supporting brilliant causes. - Nice. 796 00:56:26,560 --> 00:56:29,600 They are humble and driven 797 00:56:29,720 --> 00:56:31,240 that I enjoy meeting them. 798 00:56:31,320 --> 00:56:34,280 We brainstorm. We learn from each other. 799 00:56:34,360 --> 00:56:35,520 So, I am very happy.