1 00:00:15,520 --> 00:00:16,560 [rock music playing] 2 00:00:33,480 --> 00:00:35,160 'I was interested in sports since I was a child.' 3 00:00:35,240 --> 00:00:39,040 One thing was very clear in all the sports that I played. 4 00:00:39,440 --> 00:00:41,800 If you cannot measure, you cannot improve. 5 00:00:43,720 --> 00:00:46,880 There's no tech catering to advanced-level players or beginners. 6 00:00:47,000 --> 00:00:50,360 Everyone is trying to work on their strengths and stamina only. 7 00:00:51,880 --> 00:00:54,240 Nobody talks about reflex and agility. 8 00:00:56,360 --> 00:00:59,920 How do we integrate this into sports? 9 00:01:00,000 --> 00:01:01,720 That's how the idea started. 10 00:01:03,360 --> 00:01:05,560 When we started building the product, 11 00:01:05,640 --> 00:01:08,480 it was just Hitarth and me as the team members of Hyperlab. 12 00:01:08,560 --> 00:01:12,120 We had too many problems and challenges to solve. 13 00:01:13,680 --> 00:01:17,720 Hitarth had a prototype which was very conceptual. 14 00:01:17,800 --> 00:01:21,080 On the first day, I tried to make it a little compact 15 00:01:21,160 --> 00:01:23,800 so that we could reach more users. 16 00:01:24,520 --> 00:01:25,800 We built our first prototype. 17 00:01:25,880 --> 00:01:29,680 It was made using PVC pipes and the wires were hanging loose. 18 00:01:29,760 --> 00:01:33,360 When I saw other athletes and students training with it, 19 00:01:33,440 --> 00:01:36,080 I realised the product was relevant. 20 00:01:37,160 --> 00:01:38,320 Our device 21 00:01:38,400 --> 00:01:40,760 provides athletes with parameters 22 00:01:40,840 --> 00:01:43,280 on which they can gauge themselves. 23 00:01:43,360 --> 00:01:47,200 How consistent they are and how good their reflexes are. 24 00:01:49,000 --> 00:01:50,880 We provide them with a detailed analysis 25 00:01:50,960 --> 00:01:53,560 to help them gauge their strengths and weaknesses. 26 00:01:54,200 --> 00:01:56,480 Messi and Ronaldo have their own tech, 27 00:01:56,720 --> 00:01:58,440 but it is not accessible and affordable. 28 00:01:58,520 --> 00:02:01,840 We want to make that tech so general and common 29 00:02:02,200 --> 00:02:06,800 that every child or every person who plays any kind of sport 30 00:02:06,960 --> 00:02:08,720 has that device. 31 00:02:11,000 --> 00:02:12,440 [theme music playing] 32 00:02:32,480 --> 00:02:33,360 [music fades] 33 00:02:33,440 --> 00:02:35,320 Greetings, Sharks. My name is Hitarth Parikh. 34 00:02:50,280 --> 00:02:52,280 Stamina which is physical strength. 35 00:02:52,600 --> 00:02:54,360 Agility which is nimbleness, 36 00:02:54,440 --> 00:02:57,040 and reflex, which is the time taken by a person to react. 37 00:03:02,880 --> 00:03:06,120 From treadmills, recumbent cycle to weights. 38 00:03:06,240 --> 00:03:08,480 If we look at reflex and agility, 39 00:03:08,600 --> 00:03:11,200 there's nothing to help you practice. 40 00:03:11,320 --> 00:03:13,840 To validate this market gap 41 00:03:14,080 --> 00:03:16,520 and provide a complete solution to athletes, 42 00:03:29,640 --> 00:03:32,920 Helios is the planet's first laser assistive training device 43 00:03:33,000 --> 00:03:36,280 which trains as well as tracks its users. 44 00:03:49,200 --> 00:03:54,440 Or be it high-intensity interval training for a gym lover. 45 00:03:54,960 --> 00:03:57,640 To build Helios, it took us two years of hard work, 46 00:03:57,920 --> 00:03:59,600 over 600 prototypes 47 00:03:59,720 --> 00:04:01,920 and 100 user tests. 48 00:04:07,280 --> 00:04:10,600 This is the device which is portable and mobile. 49 00:04:16,040 --> 00:04:19,440 This device is connected to an application via Bluetooth. 50 00:04:36,440 --> 00:04:40,040 It knows exactly at what distance it is projecting 51 00:05:03,400 --> 00:05:05,960 You three don't look like 52 00:05:08,400 --> 00:05:10,400 They're busy making the product. [laughs] 53 00:05:10,760 --> 00:05:11,920 What is your age? 54 00:05:12,080 --> 00:05:13,160 Twenty-two. 55 00:05:13,240 --> 00:05:15,760 This shouldn't be the case at 22. 56 00:05:15,920 --> 00:05:17,560 I don't think you work out even for half an hour. 57 00:05:18,200 --> 00:05:20,040 There's this thing that... 58 00:05:21,640 --> 00:05:22,440 Should I say it? 59 00:05:22,520 --> 00:05:24,560 - Say it! You're here to talk. - If you see, 60 00:05:24,640 --> 00:05:27,920 even the best salon guy is also... 61 00:05:29,720 --> 00:05:30,600 Blad! 62 00:05:30,720 --> 00:05:32,040 Yes, bald. I mean... 63 00:05:32,240 --> 00:05:33,840 [hysterical laughter] 64 00:05:36,680 --> 00:05:38,480 Sir, it took us two years, 65 00:05:38,560 --> 00:05:40,880 but we're going to kill it now. Believe me. 66 00:05:41,040 --> 00:05:42,000 Okay, finish your demo. 67 00:05:42,120 --> 00:05:45,320 We'll be giving a demo for the sport of badminton. 68 00:05:45,360 --> 00:05:48,760 - Okay. - So, all the drills have been designed for badminton. 69 00:05:49,040 --> 00:05:52,120 For that, I would like to call Nihal on stage 70 00:05:52,280 --> 00:05:53,560 who represents Gujarat. 71 00:05:53,680 --> 00:05:54,720 - Very nice. - Oh, wow. 72 00:05:56,480 --> 00:05:57,600 Hi, Sharks. Hello. 73 00:05:57,680 --> 00:05:58,520 - Hello. - Hi, Nihal. 74 00:05:58,640 --> 00:05:59,800 Welcome to Shark Tank, bro. 75 00:05:59,920 --> 00:06:00,480 Thank you. 76 00:06:04,240 --> 00:06:06,120 which is the Point Based Mode. 77 00:06:11,920 --> 00:06:12,760 [device beeping] 78 00:06:13,440 --> 00:06:15,280 Just as Nihal attains the first target, 79 00:06:22,000 --> 00:06:24,200 The device analyses 80 00:06:24,280 --> 00:06:26,560 the direction and the speed of the user. 81 00:06:27,160 --> 00:06:30,960 It shows limited information during the live session. 82 00:06:32,160 --> 00:06:33,920 If you want an in-depth analysis, 83 00:06:46,560 --> 00:06:48,200 and faster while going forward, 84 00:06:48,320 --> 00:06:50,520 it shows that his frontal speed was faster. 85 00:06:50,800 --> 00:06:53,880 If you wish to see it more in-depth, then we'll select 'Graphs'. 86 00:06:53,960 --> 00:06:57,400 It shows you the deviation from the average speed. 87 00:06:57,800 --> 00:06:59,760 The second mode is the Buffer Mode 88 00:07:00,000 --> 00:07:02,680 which basically sharpens your reflexes. 89 00:07:07,560 --> 00:07:08,520 at the centre. 90 00:07:08,680 --> 00:07:10,120 Every time I come back to the centre. 91 00:07:10,280 --> 00:07:11,720 Then it randomly... 92 00:07:20,720 --> 00:07:23,240 Later, it gives you an overall analysis 93 00:07:23,440 --> 00:07:25,520 of which direction his performance was good in 94 00:07:25,640 --> 00:07:27,240 and which one it was bad in. 95 00:07:27,360 --> 00:07:28,760 It shows you all the data. 96 00:07:28,880 --> 00:07:29,960 [music fades] 97 00:07:31,360 --> 00:07:33,600 - Thanks, Nihal, for demonstrating two of the modes. - Thank you. 98 00:07:33,680 --> 00:07:35,000 - Thank you, Sharks. - Tell us something. 99 00:07:35,120 --> 00:07:37,200 As part of your professional coaching, 100 00:07:37,320 --> 00:07:38,960 do you do these drills before the game? 101 00:07:39,040 --> 00:07:40,000 Yes, sir. Of course. 102 00:07:40,800 --> 00:07:42,280 How do you know them? 103 00:07:42,440 --> 00:07:45,000 They came to our academy and gave a demo of the product. 104 00:07:45,080 --> 00:07:46,560 A lot of the students tried it. 105 00:07:46,640 --> 00:07:48,360 And then, we really liked it. 106 00:07:48,440 --> 00:07:49,880 How many students are in your academy? 107 00:07:50,040 --> 00:07:51,560 Um, 20 to 25. 108 00:07:51,680 --> 00:07:53,360 - Thank you. - Thank you, Nihal. 109 00:07:53,440 --> 00:07:54,680 - Thank you, Sharks. - Thank you. 110 00:07:54,800 --> 00:07:55,920 Is the demo over? 111 00:07:56,040 --> 00:07:58,680 There's one last mode which we call the Killer Mode. 112 00:07:58,760 --> 00:07:59,920 Fine, show it to us. 113 00:08:00,000 --> 00:08:02,000 Amit, we've seen you on Instagram 114 00:08:02,080 --> 00:08:04,840 and you're really active in sports and fitness. 115 00:08:04,920 --> 00:08:06,320 Would you like to try it? 116 00:08:06,400 --> 00:08:07,360 Sure, let's do it. 117 00:08:10,280 --> 00:08:11,720 Why would I? 118 00:08:12,040 --> 00:08:13,360 [light-hearted music playing] 119 00:08:13,960 --> 00:08:15,480 In the Killer Mode, 120 00:08:15,560 --> 00:08:17,520 the device will basically study you. 121 00:08:17,560 --> 00:08:20,840 The first drill has to be done at the base speed. 122 00:08:20,920 --> 00:08:23,040 And every time you do it after that, 123 00:08:31,320 --> 00:08:32,680 - You said it's a killer product. - Killer mode. 124 00:08:32,760 --> 00:08:33,960 - No. - Will you kill him? 125 00:08:34,040 --> 00:08:35,760 [Sharks laugh] 126 00:08:36,880 --> 00:08:38,720 Start with high intensity. 127 00:08:38,800 --> 00:08:41,120 - No. It... - It will learn my intensity. 128 00:08:41,200 --> 00:08:43,360 No! You don't know him. He's a solid guy. 129 00:08:43,440 --> 00:08:44,680 - Just start. - Okay, sir. 130 00:08:51,720 --> 00:08:52,680 [whimsical music playing] 131 00:08:53,200 --> 00:08:54,120 Faster! 132 00:08:54,200 --> 00:08:56,240 - Oh, my! - It gives you visual feedback 133 00:08:56,360 --> 00:08:58,080 of how you've to go to that point. 134 00:08:58,160 --> 00:08:59,520 Kabaddi! Kabaddi... 135 00:09:02,120 --> 00:09:03,480 [whimsical music playing] 136 00:09:10,760 --> 00:09:12,840 So, that was your base speed. 137 00:09:13,320 --> 00:09:15,280 Now, it will upgrade you. 138 00:09:16,400 --> 00:09:17,800 Breathe, Amit. Breathe. 139 00:09:17,880 --> 00:09:19,000 I should have gone slow the first time. 140 00:09:19,040 --> 00:09:20,200 [Sharks laugh] 141 00:09:22,440 --> 00:09:23,480 Increase the timer's duration. 142 00:09:23,720 --> 00:09:24,880 It will increase automatically. 143 00:09:25,840 --> 00:09:26,840 [device beeping] 144 00:09:30,320 --> 00:09:31,400 [clapping] 145 00:09:32,640 --> 00:09:34,000 You've done it. 146 00:09:34,440 --> 00:09:35,800 You've done both. 147 00:09:38,920 --> 00:09:39,840 [Aman mumbling] 148 00:09:40,000 --> 00:09:41,560 Well done, Amit. Come on. 149 00:09:41,680 --> 00:09:43,640 - Good sport. - Good... 150 00:09:44,920 --> 00:09:47,360 I hope you're speechless and won't ask questions. 151 00:09:47,520 --> 00:09:48,560 Not going to. 152 00:09:50,040 --> 00:09:51,920 He won't ask you about the unit economics. 153 00:09:52,160 --> 00:09:53,040 No, I won't. 154 00:09:54,840 --> 00:09:57,120 - I've to catch my breath for sure. - Yes, please. 155 00:09:59,120 --> 00:10:00,320 Give us the machines. 156 00:10:00,400 --> 00:10:01,480 - We'll take a look. - Yes, give it here. 157 00:10:01,560 --> 00:10:02,960 I'll give you all the three machines. 158 00:10:03,040 --> 00:10:06,320 - Okay. - And this is the whole product. 159 00:10:06,400 --> 00:10:07,960 - Oh. - This is just the stand. 160 00:10:08,040 --> 00:10:08,840 Oh, okay. 161 00:10:08,960 --> 00:10:09,880 I'll get the other product. 162 00:10:09,960 --> 00:10:11,120 - Okay. - Okay, that's fine. 163 00:10:13,400 --> 00:10:15,240 - This is the white one. - Okay, thank you. 164 00:10:15,320 --> 00:10:18,040 Can you also do the wall exercises? 165 00:10:18,160 --> 00:10:19,960 Yes. You can set it up anywhere. 166 00:10:22,320 --> 00:10:24,120 That's the internal mechanism. 167 00:10:24,200 --> 00:10:27,240 We have patented it in India and the US both. 168 00:10:32,040 --> 00:10:35,520 Sharks, I had an interest in industrial designing. 169 00:10:35,680 --> 00:10:37,400 The third year of our course is the internship period. 170 00:10:37,440 --> 00:10:39,880 I interned with a company called Studio Carbon. 171 00:10:39,960 --> 00:10:41,920 I gave them this idea. 172 00:10:42,000 --> 00:10:44,480 I got the idea 173 00:10:44,560 --> 00:10:46,680 - when a cat... - I was... 174 00:10:46,760 --> 00:10:48,280 [laughter] 175 00:10:48,440 --> 00:10:49,280 Kids do that. 176 00:10:49,360 --> 00:10:50,800 - They point a laser... - I was about to say 177 00:10:50,880 --> 00:10:52,800 - that this reminded me of cats. - Yes. 178 00:10:53,560 --> 00:10:56,840 If cats are curious animals, well, so are we. 179 00:10:57,000 --> 00:10:59,040 Why aren't we chasing it? 180 00:10:59,240 --> 00:11:00,600 That's when I had the idea. 181 00:11:00,720 --> 00:11:04,360 Then I tried to make the prototype myself, 182 00:11:04,600 --> 00:11:05,760 but failed. 183 00:11:05,920 --> 00:11:07,440 So, I connected with Chahil. 184 00:11:07,640 --> 00:11:09,120 How? Where was Chahil? 185 00:11:09,280 --> 00:11:11,640 Previously also, I tried to invent a product 186 00:11:11,760 --> 00:11:14,920 which could convert a regular faucet into an automatic one 187 00:11:15,040 --> 00:11:16,280 and save a lot of water. 188 00:11:16,400 --> 00:11:17,400 You're an inventor. 189 00:11:18,640 --> 00:11:21,560 The one thing that was missing was the electronics. 190 00:11:21,720 --> 00:11:23,120 So, I connected with him 191 00:11:23,320 --> 00:11:26,240 and he outright refused saying he didn't have time. 192 00:11:26,760 --> 00:11:29,080 He had his hands full with a lot of freelancing projects. 193 00:11:29,400 --> 00:11:30,920 - He was a star. - I see. 194 00:11:31,240 --> 00:11:32,880 When I started the second product, 195 00:11:32,960 --> 00:11:34,800 the timing of Studio Carbon's backing 196 00:11:34,880 --> 00:11:37,920 and Chahil's internship coincided. 197 00:11:38,000 --> 00:11:39,520 My internship was going on too. 198 00:11:40,120 --> 00:11:42,680 I was always interested in product design. 199 00:11:42,760 --> 00:11:43,800 I've done IT, 200 00:11:43,880 --> 00:11:46,440 but I also do robotics and electronics as a hobby. 201 00:11:46,520 --> 00:11:48,680 He pitched the project to me. 202 00:11:48,920 --> 00:11:51,640 Then we started it and it has been a great journey. 203 00:11:51,720 --> 00:11:53,040 How old are you? 204 00:11:53,280 --> 00:11:54,200 Twenty-three. 205 00:11:55,600 --> 00:11:57,400 The moment our hardware was ready, 206 00:11:57,600 --> 00:12:00,280 I knew we needed one hell of a software. 207 00:12:00,360 --> 00:12:02,720 So, we emailed Harsheet's college. 208 00:12:02,800 --> 00:12:03,720 Which college? 209 00:12:04,120 --> 00:12:05,480 Nirma University. 210 00:12:07,440 --> 00:12:08,920 - Twenty-two. - Wow. 211 00:12:09,080 --> 00:12:10,280 Coming up with this... 212 00:12:10,400 --> 00:12:13,120 Actually, my sister owns a cat. 213 00:12:13,240 --> 00:12:15,440 I like to play with it using a laser. 214 00:12:15,640 --> 00:12:16,600 It pounces on the light. 215 00:12:16,720 --> 00:12:18,320 Taking inspiration from that 216 00:12:18,400 --> 00:12:20,880 - and making human beings do this... - Turn them into cats. 217 00:12:20,960 --> 00:12:22,400 Turning them into cats! 218 00:12:37,400 --> 00:12:38,680 Is the device already in the market? 219 00:12:38,800 --> 00:12:42,080 We just got done with the R&D phase last September. 220 00:12:47,600 --> 00:12:48,840 so that we can launch it in March. 221 00:13:02,120 --> 00:13:05,040 For gyms with Zumba spaces 222 00:13:05,160 --> 00:13:06,920 where this could be deployed, 223 00:13:07,040 --> 00:13:08,280 we are selling it. 224 00:13:08,440 --> 00:13:09,920 Sports academies, on the other hand, 225 00:13:10,000 --> 00:13:11,800 can't spend that kind of money at one go. 226 00:13:12,000 --> 00:13:14,320 If we want to make it a sports tech for all, 227 00:13:14,440 --> 00:13:15,920 then we have to reach them. 228 00:13:16,040 --> 00:13:18,400 We've introduced a subscription model for them 229 00:13:40,200 --> 00:13:43,000 So, the target market depends on its application. 230 00:13:43,120 --> 00:13:45,320 - This has become a platform-based product. - Hmm. 231 00:14:36,480 --> 00:14:38,800 How much money have you invested in this so far? 232 00:14:38,880 --> 00:14:41,640 We've received a grant of Rs. 45 lakhs from the government. 233 00:14:47,200 --> 00:14:48,080 Anyway, continue. 234 00:14:48,240 --> 00:14:50,680 Neel Mehta is associated with us 235 00:14:50,920 --> 00:14:52,680 who is the CEO of Studio Carbon. 236 00:14:52,880 --> 00:14:54,480 He has invested Rs. 50 lakhs. 237 00:14:55,160 --> 00:14:57,520 - Rs. 50 lakhs at what valuation? - 10%. 238 00:14:57,760 --> 00:14:59,640 - When was this? - September 2022. 239 00:14:59,720 --> 00:15:01,720 - You've run out of money. - No. 240 00:15:01,920 --> 00:15:03,440 We have Rs. 47 lakhs in the bank. 241 00:15:04,240 --> 00:15:06,200 - What are your monthly expenses? - Rs. 4 lakhs. 242 00:15:06,360 --> 00:15:07,640 How big is the team? 243 00:15:07,760 --> 00:15:08,720 We're 12 of us. 244 00:15:08,800 --> 00:15:09,760 What's the equity split? 245 00:15:09,840 --> 00:15:11,840 - Um, I hold 70%. - And they? 246 00:15:11,920 --> 00:15:13,080 2% and 1%. 247 00:15:13,200 --> 00:15:14,800 - Whoa! - Vast difference. 248 00:15:14,960 --> 00:15:17,960 - And the remaining? - 5% is with Studio Carbon. 249 00:15:18,080 --> 00:15:19,640 10% is with Neel Mehta... 250 00:15:19,720 --> 00:15:21,320 - Okay. - Who made the initial investment. 251 00:15:21,440 --> 00:15:23,160 3% is with the advisors. 252 00:15:23,320 --> 00:15:25,240 - And 10% is with ESOPs. - Okay. 253 00:15:38,480 --> 00:15:40,240 What is the next plan? 254 00:15:40,400 --> 00:15:44,800 This technology is scalable across platforms. 255 00:15:45,000 --> 00:15:47,600 So, if I want to compete with Saina Nehwal, 256 00:15:47,760 --> 00:15:50,880 I need to upload a video of her on my software 257 00:15:51,080 --> 00:15:54,840 and the product will replicate her moves along with the timing. 258 00:15:55,240 --> 00:15:56,760 We want to take sports tech by storm. 259 00:15:56,840 --> 00:15:58,560 Do you have more ideas? 260 00:15:58,680 --> 00:15:59,720 We have more ideas. 261 00:15:59,800 --> 00:16:01,320 Okay, I'll make an offer to you. 262 00:16:01,920 --> 00:16:03,920 When I was 22, I didn't know what I wanted to do in life, 263 00:16:04,000 --> 00:16:05,880 you guys are so sorted. 264 00:16:14,280 --> 00:16:16,960 Rs. 50 lakhs for 5% equity. 265 00:16:24,720 --> 00:16:25,720 I'll match Namita's offer 266 00:16:25,800 --> 00:16:27,680 and the other offer you have is Rs. 50 lakhs for 5% equity. 267 00:16:33,760 --> 00:16:35,640 You asked for Rs. 10 lakhs for 1% equity and I gave it to you. 268 00:16:35,760 --> 00:16:37,520 Why are you asking for more? 269 00:16:37,600 --> 00:16:40,360 I've also heard that God gives you more than what you ask for. 270 00:16:40,600 --> 00:16:42,400 [chuckles] In abundance! 271 00:16:43,160 --> 00:16:44,040 A quick question. 272 00:16:44,120 --> 00:16:46,040 How do you plan to mass manufacture 273 00:16:46,120 --> 00:16:48,200 because our investment won't suffice? 274 00:16:48,320 --> 00:16:49,840 We'll need to raise more funds. 275 00:16:50,000 --> 00:16:50,800 All right. 276 00:16:51,320 --> 00:16:55,360 Look, you still have about Rs. 40 to 45 lakhs in the bank. 277 00:16:55,760 --> 00:16:58,120 You're almost down to the wire. 278 00:16:58,200 --> 00:16:59,320 You have a burn of Rs. 4 lakhs. 279 00:16:59,400 --> 00:17:01,560 - You'll run out of money by March. - That's right. 280 00:17:01,680 --> 00:17:03,320 And before you run out of money, 281 00:17:03,440 --> 00:17:07,640 you should always have at least a six-month runway to raise money. 282 00:17:08,040 --> 00:17:09,760 Which is why you should raise more. 283 00:17:10,240 --> 00:17:11,480 Which is why you should not dilute 284 00:17:11,600 --> 00:17:13,040 - more at this equity. - We will help you. 285 00:17:13,120 --> 00:17:14,840 We'll connect you to investors. 286 00:17:15,200 --> 00:17:17,160 Tell me about your distribution plans. 287 00:17:17,280 --> 00:17:19,720 You said you'll launch in March. What's the plan of action? 288 00:17:19,840 --> 00:17:21,400 We want to do both online and offline sales. 289 00:17:21,520 --> 00:17:24,040 We feel this would scale more globally. 290 00:17:24,120 --> 00:17:25,000 Absolutely right. 291 00:17:25,080 --> 00:17:26,360 India has to be there, 292 00:17:31,480 --> 00:17:32,920 We will have to bring someone else on board. 293 00:17:33,000 --> 00:17:35,360 You're taking too long and will lose the offers. 294 00:17:36,160 --> 00:17:37,880 Yes! The offers get revoked. 295 00:17:38,000 --> 00:17:40,280 Don't be under any pressure. The offers aren't going anywhere. 296 00:17:40,800 --> 00:17:43,000 Do you want investors who ask a lot of questions 297 00:17:43,080 --> 00:17:45,400 or do you want investors who believe in you? 298 00:17:45,480 --> 00:17:47,120 I think you need investors who can help you. 299 00:17:47,240 --> 00:17:48,880 Aw! 300 00:17:49,120 --> 00:17:52,160 Have you thought about how much sales you want to do next year? 301 00:17:52,240 --> 00:17:53,840 We want to do sales of Rs. 6 crores next year. 302 00:17:53,920 --> 00:17:55,200 - Rs. 6 crores. - We want to sell 3,000 products. 303 00:17:55,280 --> 00:17:57,240 Is the manufacturing ready for this capacity 304 00:17:57,320 --> 00:17:58,360 or does it need to be arranged? 305 00:17:58,440 --> 00:18:00,400 Electronics-wise, it is fully ready. 306 00:18:00,480 --> 00:18:01,840 In what area is it not ready? 307 00:18:01,920 --> 00:18:02,760 Injection moulding. 308 00:18:08,280 --> 00:18:10,120 We understood the business in no time, 309 00:18:10,280 --> 00:18:11,960 but some people are taking way too long. 310 00:18:12,040 --> 00:18:13,000 What are you doing? 311 00:18:14,680 --> 00:18:16,520 Are you the decision maker or is it one of them? 312 00:18:16,600 --> 00:18:17,840 All three of us are. 313 00:18:17,960 --> 00:18:19,800 - Who is the CEO? - I am. 314 00:18:20,240 --> 00:18:21,840 Hitarth, what kind of a CEO are you? 315 00:18:21,960 --> 00:18:25,600 I gave you five times your ask for the same valuation. 316 00:18:25,680 --> 00:18:26,880 I wonder what you're doing! 317 00:18:28,000 --> 00:18:30,120 I'll give you 20 minutes to answer their questions. 318 00:18:30,240 --> 00:18:31,280 Accept my offer first. 319 00:18:31,360 --> 00:18:32,640 - Then you can answer them. - Come on! 320 00:18:32,800 --> 00:18:35,320 - No, I will let you answer... - They're listening to get an offer. 321 00:18:35,400 --> 00:18:38,000 Well done, Vineeta. Well done! 322 00:18:38,120 --> 00:18:39,280 After accepting my offer, 323 00:18:39,360 --> 00:18:41,240 I will stand there and answer his questions! 324 00:18:41,840 --> 00:18:43,080 [music playing] 325 00:18:43,440 --> 00:18:45,680 I offer you what you asked for. Rs. 10 lakhs for 1% equity. 326 00:18:55,720 --> 00:18:58,520 - I'll give you Rs. 1 crore. - Oh, my! 327 00:18:59,800 --> 00:19:01,240 All your problems will be over. 328 00:19:01,360 --> 00:19:03,400 - For? - For 5% of your company. 329 00:19:09,760 --> 00:19:11,080 I'll revise my offer. 330 00:19:11,280 --> 00:19:13,040 [tense music playing] 331 00:19:33,560 --> 00:19:35,400 Could I make a call? 332 00:19:35,520 --> 00:19:36,360 Sure, go on. 333 00:19:39,080 --> 00:19:40,600 This is the first time 334 00:19:40,800 --> 00:19:42,840 we have started doubling the valuations! 335 00:19:42,920 --> 00:19:44,760 - From Rs. 10 crores to... - Why do you double it? 336 00:19:44,840 --> 00:19:47,400 - Increase it by 10 or 20%. - She started it. 337 00:19:47,480 --> 00:19:48,480 Why are you doubling the valuation? 338 00:19:48,600 --> 00:19:49,840 Namita is doing it! 339 00:19:50,360 --> 00:19:51,800 [sombre music playing] 340 00:19:52,480 --> 00:19:54,720 - You started it. - No! 341 00:19:55,240 --> 00:19:57,040 - How can you do that? - You double it from 10 to 20. 342 00:19:57,120 --> 00:19:59,200 Increase it by 20% or 10%. 343 00:19:59,320 --> 00:20:00,720 Don't get furious. 344 00:20:00,920 --> 00:20:01,880 Why so... 345 00:20:12,840 --> 00:20:13,880 Come on, take a call. 346 00:20:14,160 --> 00:20:16,520 [suspenseful music playing] 347 00:20:19,760 --> 00:20:20,600 Aman. 348 00:20:29,280 --> 00:20:31,040 I cannot believe this. 349 00:20:31,120 --> 00:20:32,440 - Good job. - [Vineeta] Aman fan club! 350 00:20:32,560 --> 00:20:35,360 I doubled your valuation and you picked him! 351 00:20:35,600 --> 00:20:37,400 - Good job. - We were getting a good deal, 352 00:20:37,480 --> 00:20:39,920 but the Sharks dug their own grave! 353 00:20:40,040 --> 00:20:41,520 You were getting Rs. 1 crore. 354 00:20:41,600 --> 00:20:43,600 - You're leaving with change! - Ignore him. 355 00:20:43,960 --> 00:20:45,680 He has never set foot in a gym! 356 00:20:46,440 --> 00:20:47,720 What are you guys doing? 357 00:20:48,000 --> 00:20:49,240 I'll start going to the gym from today! 358 00:20:49,360 --> 00:20:50,480 [Sharks laugh] 359 00:20:50,600 --> 00:20:51,560 [camera shutter clicking] 360 00:20:52,200 --> 00:20:53,720 - See you. I'll escort you out. - Thank you. 361 00:20:53,800 --> 00:20:54,960 Otherwise, they'll hound you. 362 00:20:55,040 --> 00:20:56,160 May I take our products? 363 00:20:56,240 --> 00:20:57,160 - Yes! - Sure, take them. 364 00:20:57,240 --> 00:20:59,000 - Take your 30,000-rupee product! - It's expensive. 365 00:20:59,280 --> 00:21:00,600 [pleasant music playing] 366 00:21:02,120 --> 00:21:03,960 I would love to help you anyway. 367 00:21:04,040 --> 00:21:04,960 - Thank you so much. - All the best. 368 00:21:05,160 --> 00:21:06,360 - Good job, guys. - Superb. 369 00:21:06,440 --> 00:21:07,360 Thank you. 370 00:21:10,600 --> 00:21:11,680 [music fades] 371 00:21:29,360 --> 00:21:32,120 Greetings, Sharks. I'm Binal Shah from Ahmedabad. 372 00:22:01,160 --> 00:22:01,640 [claps hand] 373 00:22:01,760 --> 00:22:05,040 Actually, Sharks, the most dangerous weapon in the world 374 00:22:05,120 --> 00:22:09,440 is a tiny, 5mm-sized mosquito. 375 00:22:10,280 --> 00:22:14,160 In all the wars to date, there have been crores of casualties. 376 00:22:14,320 --> 00:22:17,960 But mosquitoes have taken more lives than that. 377 00:22:18,120 --> 00:22:20,400 Dengue, malaria, chikungunya, 378 00:22:34,520 --> 00:22:36,400 It just drives mosquitoes away. 379 00:22:36,480 --> 00:22:38,440 So, we're shifting the problem. 380 00:22:39,280 --> 00:22:42,480 And if we want to eradicate this problem from the root, 381 00:22:42,920 --> 00:22:47,280 then we have to stop their reproduction cycle too. 382 00:22:59,000 --> 00:23:01,640 Eco Biotraps is a sustainable way 383 00:23:25,000 --> 00:23:27,520 Sharks, our product is science-based. 384 00:23:27,600 --> 00:23:29,120 And it's approved by scientists. 385 00:23:33,800 --> 00:23:36,760 So, we have chosen the world's difficult terrain, 386 00:23:37,000 --> 00:23:38,720 which is Dharavi. 387 00:23:53,760 --> 00:23:57,160 And this is the only set, world's first set 388 00:23:57,240 --> 00:24:00,280 which is 100% dengue, mosquito-free zone. 389 00:24:00,400 --> 00:24:02,640 - [clapping, laughing] - You won't get dengue here. 390 00:24:03,400 --> 00:24:05,040 So Sharks, 391 00:24:05,160 --> 00:24:08,160 join us in this war 392 00:24:08,320 --> 00:24:10,360 because if they breed 393 00:24:10,600 --> 00:24:11,840 we all bleed. 394 00:24:11,960 --> 00:24:13,120 [laughing] 395 00:24:13,880 --> 00:24:17,960 Such an interesting man in Pune and we've never met. 396 00:24:18,160 --> 00:24:18,760 No, Ma'am. 397 00:24:18,880 --> 00:24:20,920 It was a high-energy pitch. I loved it! 398 00:24:21,000 --> 00:24:22,240 - Thank you so much. - You filled us with energy. 399 00:24:22,320 --> 00:24:24,080 We will fight mosquitoes. 400 00:24:24,160 --> 00:24:25,320 [laughing] 401 00:24:25,400 --> 00:24:26,720 [mimicking] A mosquito can... 402 00:24:27,080 --> 00:24:28,640 [laughing] 403 00:24:30,720 --> 00:24:32,320 We have a live demo too. 404 00:24:32,400 --> 00:24:35,840 Show us the video so that we can reveal what's going on here. 405 00:24:36,120 --> 00:24:37,680 [music playing] 406 00:24:45,920 --> 00:24:47,760 [music playing] 407 00:24:48,240 --> 00:24:49,520 Nobody falls sick here. 408 00:24:49,600 --> 00:24:51,480 We haven't had a dengue case yet. 409 00:24:51,560 --> 00:24:55,080 Last year, this time, so many people died due to dengue and malaria. 410 00:24:55,160 --> 00:24:56,600 - Yes. - It's very less now. 411 00:24:57,760 --> 00:24:59,760 [music playing] 412 00:25:01,080 --> 00:25:02,480 It's very useful. 413 00:25:02,560 --> 00:25:05,000 We don't find many mosquitoes now in the evening. 414 00:25:05,040 --> 00:25:06,520 And nights are almost mosquito-free. 415 00:25:06,640 --> 00:25:09,320 With this, mosquitoes and dengue 416 00:25:09,520 --> 00:25:10,720 issue has been resolved. 417 00:25:12,240 --> 00:25:14,840 We launched the product in June 2022. 418 00:25:26,880 --> 00:25:28,000 How much was the result? 419 00:25:28,160 --> 00:25:29,920 We installed 3000 units 420 00:25:40,440 --> 00:25:43,120 Dharavi doesn't figure even in the top 10 list. 421 00:25:44,320 --> 00:25:45,680 Don't people steal it? 422 00:25:45,800 --> 00:25:48,960 We faced this issue for 2-3 months in Dharavi, Anupam. 423 00:25:49,040 --> 00:25:49,360 Yes. 424 00:25:49,360 --> 00:25:52,000 But we conducted IEC. 425 00:25:59,800 --> 00:26:00,760 but not anymore. 426 00:26:00,800 --> 00:26:03,960 So, this is life-saving and it must be safeguarded. 427 00:26:04,040 --> 00:26:06,360 So, we don't need to focus so much on IEC communication. 428 00:26:06,600 --> 00:26:07,360 I see. 429 00:26:07,600 --> 00:26:09,760 When you install it and fill it with water, 430 00:26:09,840 --> 00:26:12,480 the mosquitoes lay eggs in it and they can't breed 431 00:26:12,560 --> 00:26:14,000 so the mosquitoes die. What's happening exactly? 432 00:26:14,080 --> 00:26:16,560 What chemical have you added that makes it work? 433 00:26:16,880 --> 00:26:18,720 Basically, this is a bucket. 434 00:26:18,920 --> 00:26:21,080 So, we have to add water to it. 435 00:26:21,400 --> 00:26:22,800 [music playing] 436 00:26:24,560 --> 00:26:26,920 And I see a poison packet in it. 437 00:26:27,040 --> 00:26:28,480 There are two things in it. 438 00:26:28,560 --> 00:26:31,640 One is an attractant, that is animal fodder. 439 00:26:31,720 --> 00:26:34,640 And the second thing in that packet is government-approved IGR, 440 00:26:41,240 --> 00:26:42,840 doesn't get hatched. 441 00:26:42,960 --> 00:26:45,480 Do you have to install it as per square foot area? 442 00:26:45,560 --> 00:26:47,960 One Biotrap covers an area of 400 square feet. 443 00:26:58,040 --> 00:27:00,760 Their lifespan is 15-30 days. 444 00:27:00,920 --> 00:27:04,360 And they lay anywhere between 500-1000 eggs. 445 00:27:05,640 --> 00:27:08,040 If there's a water body nearby and your pot is lying here. 446 00:27:08,280 --> 00:27:10,760 Why will the mosquito choose this place to lay eggs over that? 447 00:27:10,880 --> 00:27:13,280 Amit, I was just waiting for this question. 448 00:27:13,760 --> 00:27:15,200 [laughing] 449 00:27:16,360 --> 00:27:18,080 It's the attractant. 450 00:27:18,200 --> 00:27:21,440 And we have ideated it through the mind of a mother. 451 00:27:21,520 --> 00:27:23,680 She won't see her children growing up. 452 00:27:24,000 --> 00:27:25,960 So, a mother will worry about three things. 453 00:27:26,160 --> 00:27:27,800 Food, clothing, and shelter. 454 00:27:27,840 --> 00:27:28,760 [laughing] 455 00:27:28,800 --> 00:27:30,640 The container is the clothing and shelter. 456 00:27:30,720 --> 00:27:33,280 And especially food for her kids 457 00:27:33,360 --> 00:27:35,440 - that the other water body lacks. - Oh! 458 00:27:35,600 --> 00:27:37,280 - It attracts her-- - Sir. 459 00:27:37,360 --> 00:27:38,640 I don't know about the rest. 460 00:27:38,720 --> 00:27:40,880 But you've been bitten by mosquitoes a lot. 461 00:27:40,960 --> 00:27:42,240 [laughing] 462 00:27:45,000 --> 00:27:46,720 You enjoy so much 463 00:27:46,840 --> 00:27:49,480 destroying them 464 00:27:49,600 --> 00:27:51,480 and completely wiping them out from the world. 465 00:27:51,560 --> 00:27:53,800 - That's the war. - That's your war, boss. 466 00:27:53,920 --> 00:27:55,680 Anupam, I'll be very honest. 467 00:27:55,760 --> 00:27:57,400 - Yes. - It was capitalism. 468 00:27:57,760 --> 00:28:00,600 We were in a bar in California, in America. 469 00:28:00,680 --> 00:28:03,360 In that bar suddenly, there were a lot of mosquitoes. 470 00:28:03,440 --> 00:28:04,640 And you know that 471 00:28:04,760 --> 00:28:07,440 mosquitoes make everyone paranoid in America. 472 00:28:07,520 --> 00:28:09,360 That time, it struck us 473 00:28:09,520 --> 00:28:11,680 why there's not much work in this field. 474 00:28:11,760 --> 00:28:14,840 Then I went into the depth of the science. 475 00:28:15,040 --> 00:28:17,200 And what did Covid teach us in terms of science? 476 00:28:17,320 --> 00:28:19,080 If you have to come out of something, 477 00:28:19,240 --> 00:28:22,560 the multiplication factor is so high 478 00:28:22,720 --> 00:28:24,160 so you have to break the chain. 479 00:28:24,440 --> 00:28:27,160 And to break the chain, we have no device. 480 00:28:27,320 --> 00:28:30,680 We are either driving it away, slapping it, or using a racket. 481 00:28:30,800 --> 00:28:33,800 What is important for source reduction? 482 00:28:33,880 --> 00:28:35,560 - These chemicals inside. - Yes. 483 00:28:35,640 --> 00:28:37,800 You don't make it. You source it from someone and add it. 484 00:28:37,840 --> 00:28:38,160 Correct. 485 00:28:38,200 --> 00:28:40,560 So, your intellectual property, or invention is that 486 00:28:40,720 --> 00:28:42,080 we took those two things, 487 00:28:42,160 --> 00:28:44,160 designed a bucket, 488 00:28:44,400 --> 00:28:46,360 pasted on it, and created a system 489 00:28:46,480 --> 00:28:47,440 this is our invention. 490 00:28:47,560 --> 00:28:49,320 No, Anupam. This is not it. 491 00:28:49,400 --> 00:28:52,760 Our patent is granted in 50 countries 492 00:28:57,480 --> 00:28:59,400 It's the material with which egg trays are made. 493 00:28:59,440 --> 00:28:59,840 Yes. 494 00:28:59,840 --> 00:29:02,040 If you add water to egg tray, 495 00:29:02,120 --> 00:29:03,760 - it will fall within seconds. - Right. 496 00:29:03,840 --> 00:29:07,120 So far, we've timed that it lasts for 4-6 weeks. 497 00:29:07,320 --> 00:29:10,440 But we can create it to last 3-6 months. 498 00:29:10,960 --> 00:29:14,720 Your bucket mentions Rs 500 and can only be used for 4 weeks. 499 00:29:20,720 --> 00:29:22,040 I can add it into that. 500 00:29:22,400 --> 00:29:24,400 Namita, these sachets 501 00:29:24,520 --> 00:29:28,000 are being sold by many companies for the last 20 years. 502 00:29:28,120 --> 00:29:29,440 But it doesn't work out. 503 00:29:29,560 --> 00:29:32,440 You have to paste all the ingredients at the bottom. 504 00:29:32,520 --> 00:29:35,880 What's the big deal? I'll stick it with a cellotape. 505 00:29:35,960 --> 00:29:37,040 It's not practical. 506 00:29:37,080 --> 00:29:38,120 - People will buy this instead. - Why? 507 00:29:38,160 --> 00:29:41,080 Buy a sachet, stick it, and use. 508 00:29:41,360 --> 00:29:44,400 Would it be equally effective if it were in plastic? 509 00:29:44,440 --> 00:29:47,760 The problem with plastic is that we can install plastic buckets 510 00:29:47,840 --> 00:29:51,240 but the killing ingredient lasts only for a month. 511 00:29:51,720 --> 00:29:53,840 So, you have to replace it. 512 00:29:53,920 --> 00:29:56,560 If you don't change it, it will become a breeding ground. 513 00:29:56,640 --> 00:29:57,920 If you leave it in this for 2 months, 514 00:29:57,960 --> 00:29:58,880 it will become a breeding ground too. 515 00:29:58,960 --> 00:30:00,640 - No, it will melt. - No. 516 00:30:00,720 --> 00:30:03,720 Water will start dripping and there will be no water left in it. 517 00:30:04,000 --> 00:30:05,680 Let's talk about the price. 518 00:30:05,760 --> 00:30:09,880 In industry, fogging is used, and it's two times more expensive. 519 00:30:10,880 --> 00:30:13,880 But it's very important. The way dengue was spreading 520 00:30:14,000 --> 00:30:17,040 then why hasn't this product become viral yet? 521 00:30:17,160 --> 00:30:20,160 Our focus is B2B as of now, Aman. 522 00:30:20,280 --> 00:30:22,440 B2C becomes an eventuality. 523 00:30:23,080 --> 00:30:24,960 How big is the business? 524 00:30:25,040 --> 00:30:27,840 Last year, our sales were Rs 84 lakhs. 525 00:30:45,600 --> 00:30:46,520 What about you both? 526 00:30:46,640 --> 00:30:49,880 I've been struggling with savings for the last 6-7 years. 527 00:30:50,000 --> 00:30:51,400 What about you? Savings? 528 00:30:51,600 --> 00:30:54,440 I had savings but this year, I'm drawing a salary. 529 00:30:54,520 --> 00:30:56,000 Okay, have you raised capital? 530 00:30:56,120 --> 00:30:56,840 - Yes. - Yes. 531 00:30:56,920 --> 00:30:59,560 - How much have you raised? - Rs 1.25 crores. 532 00:30:59,720 --> 00:31:00,880 At what valuation? 533 00:31:00,960 --> 00:31:02,320 Rs 15 crores valuation. 534 00:31:02,400 --> 00:31:03,720 When was this? 535 00:31:03,800 --> 00:31:04,600 Last June. 536 00:31:04,680 --> 00:31:05,800 - 2022. - In 2022. 537 00:31:06,000 --> 00:31:07,480 [music playing] 538 00:31:07,880 --> 00:31:10,800 This particular product is remarkable. 539 00:31:10,920 --> 00:31:12,760 But you've created a solution for Rs 500. 540 00:31:12,840 --> 00:31:13,280 Yes. 541 00:31:13,400 --> 00:31:16,120 A solution for Rs 500 is not affordable for 542 00:31:16,440 --> 00:31:19,360 poor people. If they have to buy and install it, it's not possible. 543 00:31:20,040 --> 00:31:22,080 If we start selling 10 lakh pieces 544 00:31:22,280 --> 00:31:25,320 at a monthly run rate 545 00:31:25,440 --> 00:31:29,160 then we can bring it down to Rs 150 for the consumers. 546 00:31:29,320 --> 00:31:31,720 In the next 3 years, what's your target for B2G, 547 00:31:31,800 --> 00:31:34,480 B2CSR, and B2C? 548 00:31:34,560 --> 00:31:37,560 This year, we're forecasting Rs 6 crores in billing. 549 00:31:37,640 --> 00:31:40,040 - This year means FY 2024? - March end. 550 00:31:49,080 --> 00:31:50,360 Rs 6 crores seems tough. 551 00:31:50,480 --> 00:31:52,880 You might have a booked order for Rs 6 crores. 552 00:31:53,040 --> 00:31:54,920 But you won't make a revenue of Rs 6 crores. 553 00:31:55,600 --> 00:31:57,760 What will be different in B2C? 554 00:31:57,840 --> 00:31:59,080 In B2C products? 555 00:31:59,160 --> 00:32:02,200 Size, shape, less than Rs 50. 556 00:32:02,320 --> 00:32:03,440 Rs 50 for the customer? 557 00:32:03,520 --> 00:32:06,520 Yes, it won't cover 400 sq.ft. 558 00:32:06,600 --> 00:32:08,800 It will cover 100 sq.ft., like a room. 559 00:32:08,880 --> 00:32:10,000 [music playing] 560 00:32:15,920 --> 00:32:17,360 We believe that 561 00:32:17,440 --> 00:32:20,480 we will make it big, list it, 562 00:32:20,560 --> 00:32:22,640 - and go global. - List it? 563 00:32:22,760 --> 00:32:25,680 We have patents. We're also 564 00:32:25,840 --> 00:32:27,000 exploring licensing deals. 565 00:32:27,080 --> 00:32:29,600 Anyway, I feel for CSR, 566 00:32:29,760 --> 00:32:32,360 I can confirm that I will invest in it. 567 00:32:32,440 --> 00:32:33,240 - Thank you, Aman. - Thank you. 568 00:32:33,320 --> 00:32:34,960 But as an investor, I won't. 569 00:32:35,080 --> 00:32:37,800 Because I don't find it to be an investible business. 570 00:32:38,480 --> 00:32:40,280 I'll give you the same advice. Take salaries, 571 00:32:40,560 --> 00:32:42,320 but don't turn it into a business 572 00:32:42,400 --> 00:32:44,960 because it will get into the cycle of valuation, investors. 573 00:32:45,040 --> 00:32:46,200 Don't do it. I'm out. 574 00:32:47,720 --> 00:32:50,560 I've decided. I'll tell you why I'm out. 575 00:32:50,720 --> 00:32:52,400 Firstly, hats off to you. 576 00:32:52,680 --> 00:32:54,880 You've chasing it for 5 years. What passion, 577 00:32:54,960 --> 00:32:56,760 level of impact. 578 00:32:57,160 --> 00:32:59,400 But as business model, 579 00:32:59,680 --> 00:33:02,040 I differ from it. As I said earlier, 580 00:33:02,120 --> 00:33:04,520 I think if you start a sachet business, 581 00:33:04,640 --> 00:33:06,680 it will be more valuable. 582 00:33:06,760 --> 00:33:10,480 And this bucket, your value proposition. 583 00:33:10,560 --> 00:33:11,760 I don't agree with that. 584 00:33:11,840 --> 00:33:12,960 But I wish you the best. 585 00:33:13,040 --> 00:33:13,920 Thank you, Namita. 586 00:33:15,360 --> 00:33:17,680 What you're doing in Dharavi is essential 587 00:33:17,800 --> 00:33:20,000 but to return an investor's money, 588 00:33:20,080 --> 00:33:22,560 you have to turn it into a big company. 589 00:33:22,760 --> 00:33:25,080 I believe that this container 590 00:33:25,160 --> 00:33:27,000 is not such a remarkable invention 591 00:33:27,080 --> 00:33:30,120 that can't be created by someone by circumventing the patent. 592 00:33:30,360 --> 00:33:32,080 Maybe with some other material. 593 00:33:32,440 --> 00:33:35,000 Will this solution work after a year? 594 00:33:35,080 --> 00:33:37,680 I don't think so. So these are the reasons, I'm out. 595 00:33:38,040 --> 00:33:39,240 Uh, good luck. 596 00:33:40,200 --> 00:33:41,200 Look, I'm out too. 597 00:33:42,560 --> 00:33:44,240 I don't understand the moat here. 598 00:33:44,360 --> 00:33:46,760 If it becomes popular, many people 599 00:33:46,880 --> 00:33:48,200 will start selling such buckets for cheap on the streets. 600 00:33:48,280 --> 00:33:50,280 So, I can't find a defensible moat. 601 00:33:50,400 --> 00:33:52,040 I'm out today. All the best. 602 00:33:52,120 --> 00:33:52,840 Thank you, Amit. 603 00:33:56,960 --> 00:33:59,480 It's not an investible business. 604 00:33:59,880 --> 00:34:01,000 Moreover, 605 00:34:01,120 --> 00:34:03,560 all of you lack business thinking. 606 00:34:03,640 --> 00:34:07,440 A 400 sq.ft. area 607 00:34:07,560 --> 00:34:09,080 product is for Rs 500 608 00:34:09,160 --> 00:34:11,240 and 100 sq.ft. is for Rs 50. 609 00:34:11,440 --> 00:34:14,560 I don't think you've thought through your numbers. 610 00:34:14,680 --> 00:34:16,400 But it's a big problem. 611 00:34:16,520 --> 00:34:18,520 And you are very passionate 612 00:34:18,600 --> 00:34:22,280 so just on that, I'll make you an offer. 613 00:34:23,840 --> 00:34:27,320 Rs 50 lakhs for 10 per cent. 614 00:34:32,600 --> 00:34:34,440 You've watched Shark Tank pitches, right? 615 00:34:34,520 --> 00:34:37,720 So, have you seen any company receiving 616 00:34:37,840 --> 00:34:39,600 25x of revenue? No. 617 00:34:40,280 --> 00:34:42,480 Because we have confirmed orders. 618 00:34:42,760 --> 00:34:44,240 Foreign companies 619 00:34:44,480 --> 00:34:45,920 had also shown a lot of interest. 620 00:34:46,080 --> 00:34:48,120 See now, you're digging your grave. 621 00:34:48,200 --> 00:34:50,200 Because you feel valuation 622 00:34:50,280 --> 00:34:52,920 is on confirmed interest but that's not true. 623 00:34:54,400 --> 00:34:57,520 Okay, either counter it or refuse it. As you please. 624 00:34:57,720 --> 00:34:59,440 [music playing] 625 00:35:00,800 --> 00:35:03,480 Vineeta, we really wanted to but you know, I... 626 00:35:03,600 --> 00:35:05,440 - I can't. - No problem. 627 00:35:05,720 --> 00:35:06,440 You don't want to do it. 628 00:35:13,040 --> 00:35:14,480 So, best of luck to you. 629 00:35:14,760 --> 00:35:15,720 And yeah. 630 00:35:15,800 --> 00:35:18,400 I will definitely put 4 of these in my house. 631 00:35:20,480 --> 00:35:21,520 Thank you so much, Sir. 632 00:35:21,640 --> 00:35:22,360 Thanks. 633 00:35:22,440 --> 00:35:23,760 - Thank you. - All the best. 634 00:35:23,840 --> 00:35:25,160 - Good luck. - All the best. 635 00:35:26,320 --> 00:35:28,000 [music playing] 636 00:36:36,320 --> 00:36:39,360 Oh my, Lords! It's crazy. 637 00:36:41,040 --> 00:36:42,720 - Amit! - Car cleaning service. 638 00:36:42,840 --> 00:36:45,040 I know that you're going to invest in this. 639 00:36:45,200 --> 00:36:46,560 - CarDekho. - CarDekho. 640 00:36:46,640 --> 00:36:48,040 - Wash cars. - Wash cars. 641 00:36:48,120 --> 00:36:49,240 CarDhona.com 642 00:36:49,880 --> 00:36:51,360 [music playing] 643 00:37:01,680 --> 00:37:03,920 [music playing] 644 00:37:23,000 --> 00:37:24,960 Sharks, do you know 645 00:37:25,120 --> 00:37:27,040 who makes your car shine every day? 646 00:37:27,120 --> 00:37:27,960 Yes, I do. 647 00:37:30,120 --> 00:37:31,080 This cloth. 648 00:37:31,160 --> 00:37:32,400 This poor cloth. 649 00:37:32,720 --> 00:37:35,960 We treat them as if they're being interrogated. 650 00:37:37,160 --> 00:37:40,560 We soak, wring, hit, and bang it. 651 00:37:40,720 --> 00:37:43,360 If this had life, it would've been dead. 652 00:37:44,240 --> 00:37:47,080 To be honest, whether it's a luxury car 653 00:37:47,160 --> 00:37:48,560 or a budget car. 654 00:37:48,640 --> 00:37:51,400 In the end, it will be washed with this dirty cloth. 655 00:37:51,600 --> 00:37:53,000 Hoora is an app 656 00:37:53,120 --> 00:37:56,120 where from the comfort of your home, through our trained partners, 657 00:37:56,160 --> 00:37:58,680 you can get a car washing centre experience. 658 00:38:03,000 --> 00:38:06,600 At present, we have around 15,000 car washing centres in India. 659 00:38:32,160 --> 00:38:33,880 and eco-friendly too. 660 00:38:34,120 --> 00:38:36,360 Our ask is Rs 80 lakhs 661 00:38:36,560 --> 00:38:37,840 for 2 per cent equity. 662 00:38:43,680 --> 00:38:44,840 Harsh and Yashwant. 663 00:38:44,920 --> 00:38:45,400 - Yeah. - Yes. 664 00:38:45,480 --> 00:38:47,600 Welcome to Shark Tank Season 3. 665 00:38:50,720 --> 00:38:51,600 Oh, you're in Nagpur 666 00:38:51,600 --> 00:38:52,440 - and you're in Mumbai. - Yeah. 667 00:38:52,680 --> 00:38:55,000 And our whole head office is in Nagpur. 668 00:38:55,120 --> 00:38:55,760 Why? 669 00:38:55,920 --> 00:38:58,120 Building the app can be done remotely. 670 00:38:58,200 --> 00:38:59,720 But every month, I'm in Nagpur. 671 00:39:05,640 --> 00:39:06,480 Why do you live separately? 672 00:39:06,560 --> 00:39:07,320 The job gets done. 673 00:39:07,360 --> 00:39:08,680 We built a decent company in 6 years. 674 00:39:08,800 --> 00:39:11,800 And how do you know each other? Give us some background. 675 00:39:11,960 --> 00:39:13,720 We met at a Y-Combinator platform. 676 00:39:21,080 --> 00:39:22,880 So, we spoke for 3-4 months 677 00:39:23,000 --> 00:39:27,240 and later, we decided to bring him on board. 678 00:39:27,240 --> 00:39:28,400 So, what happens normally is 679 00:39:34,680 --> 00:39:37,160 Deep cleaning is another type of washing 680 00:39:37,240 --> 00:39:39,320 which we get done when we send the car to the garage. 681 00:39:39,400 --> 00:39:41,600 So, which out of the two do you do? 682 00:39:41,680 --> 00:39:42,760 Anupam, great question. 683 00:39:42,880 --> 00:39:45,040 We don't target the daily wash segment. 684 00:39:50,440 --> 00:39:52,000 So, do the consumers really face this problem? 685 00:39:52,080 --> 00:39:55,880 Our services are affordable and start at Rs. 99. 686 00:39:59,320 --> 00:40:00,400 You will incur losses. 687 00:40:00,480 --> 00:40:02,240 We have a minimum order value 688 00:40:02,320 --> 00:40:04,440 in which you have to book services worth Rs. 200. 689 00:40:13,400 --> 00:40:16,600 So, this set-up is for a car wash I'm presuming. 690 00:40:16,720 --> 00:40:19,000 Yes, Sharks. We have with us a soiled car 691 00:40:19,120 --> 00:40:22,320 and you asked us whether consumers have a need for our service, 692 00:40:22,400 --> 00:40:24,600 - so we thought of giving you a demo. - Go ahead. 693 00:40:24,640 --> 00:40:25,520 He's Hemant, 694 00:40:25,880 --> 00:40:28,120 our trained and verified service partner 695 00:40:28,400 --> 00:40:29,960 who will be giving you a service demo. 696 00:40:30,040 --> 00:40:30,880 Hi, Hemant. 697 00:40:42,400 --> 00:40:45,000 Our pressure washer is designed by us. 698 00:40:47,680 --> 00:40:49,680 This is the Hoora power source which is again designed by us. 699 00:40:53,600 --> 00:40:55,480 using this 90-degree lance. 700 00:40:55,560 --> 00:40:57,240 Did you make all the equipment? 701 00:40:57,440 --> 00:41:00,680 Yes, all the equipment is made by us and is patented as well. 702 00:41:00,840 --> 00:41:01,720 Fabulous. 703 00:41:02,240 --> 00:41:03,640 [water spurting] 704 00:41:08,280 --> 00:41:09,760 Hemant, clean the underbody. 705 00:41:10,280 --> 00:41:11,240 90 degrees. 706 00:41:12,840 --> 00:41:16,440 All our services are done within 60 minutes 707 00:41:16,640 --> 00:41:18,800 and deep cleaning is done within three hours. 708 00:41:24,280 --> 00:41:27,680 First, it will be shampooed followed by pressure washing. 709 00:41:27,960 --> 00:41:29,600 - Are you a service partner? - Yes, sir. 710 00:41:29,680 --> 00:41:31,080 Do you personally wash the cars? 711 00:41:31,160 --> 00:41:32,760 - I used to do it myself earlier. - Okay. 712 00:41:32,800 --> 00:41:33,840 I have hired people now, sir. 713 00:41:33,920 --> 00:41:35,480 - How many people? - Two people, sir. 714 00:41:35,600 --> 00:41:37,000 How much do you make? 715 00:41:37,080 --> 00:41:38,200 After deducting their salaries, 716 00:41:38,280 --> 00:41:40,840 I make Rs. 15,000 to 20,000 per person. 717 00:41:41,000 --> 00:41:43,880 - So, you earn Rs. 40,000. - Rs. 35,000 to 40,000 on average. 718 00:41:44,000 --> 00:41:47,440 Did you invest in this machine or did they give it to you? 719 00:41:47,560 --> 00:41:49,280 They provided it to me after I invested money. 720 00:41:53,040 --> 00:41:53,840 Rs. 3 lakhs! 721 00:41:53,920 --> 00:41:55,400 Have you made the money back? 722 00:41:55,480 --> 00:41:57,560 Yes. They gave me two kits in total. 723 00:41:57,640 --> 00:41:59,160 What were you doing before this? 724 00:41:59,280 --> 00:42:00,440 I used to wash cars, ma'am. 725 00:42:10,840 --> 00:42:11,760 Thank you, Hemant. 726 00:42:11,840 --> 00:42:13,560 - Thank you, sir. - All the best. Thank you. 727 00:42:13,800 --> 00:42:16,560 I'm happy to know that you helped him make Rs. 40,000. 728 00:42:18,840 --> 00:42:19,720 Very good job. 729 00:42:20,840 --> 00:42:22,680 You said you sell one kit for Rs. 1.5 lakhs. 730 00:42:22,760 --> 00:42:24,040 How much do you make? 731 00:42:24,120 --> 00:42:26,880 Unit economics-wise, our kit costs Rs. 80,000 732 00:42:35,160 --> 00:42:36,280 GST is calculated on it. 733 00:42:36,400 --> 00:42:38,520 - Approximately Rs. 2.7 lakhs. - Rs. 2.8 or 2.9 lakhs. 734 00:42:38,640 --> 00:42:41,200 - Okay. - You said your products were patented. 735 00:42:41,400 --> 00:42:42,280 What is it for? 736 00:42:42,360 --> 00:42:44,400 The patent we have filed 737 00:42:44,480 --> 00:42:46,480 is for a portable backpack detailing system. 738 00:42:46,560 --> 00:42:49,320 So, our power source is proprietary. 739 00:42:53,680 --> 00:42:55,600 The machines we run using it... 740 00:42:55,720 --> 00:42:58,480 Unless modified, you can't run the machines 741 00:42:58,520 --> 00:43:00,960 on these high-voltage and high-powered batteries. 742 00:43:01,000 --> 00:43:03,880 We have worked on the BMS and cell level 743 00:43:04,000 --> 00:43:05,280 and made a system. 744 00:43:05,480 --> 00:43:06,680 So, you've made this machine yourself. 745 00:43:06,760 --> 00:43:09,120 This technology doesn't exist in the world. 746 00:43:09,280 --> 00:43:10,560 It doesn't exist elsewhere. 747 00:43:11,680 --> 00:43:15,680 How much business does the current car wash industry generate? 748 00:43:15,760 --> 00:43:18,640 They do a business of Rs. 8 to 10 crores every day. 749 00:43:18,720 --> 00:43:19,680 Every day! 750 00:43:19,920 --> 00:43:21,080 - Yes, every day. - Okay. 751 00:43:21,280 --> 00:43:23,360 - That's a Rs. 3,000 crore business. - Rs. 3,000 to 4,000 crores. 752 00:43:29,160 --> 00:43:31,440 I thought why would I be interested in a car wash business. 753 00:43:31,680 --> 00:43:32,760 My interest is aroused. 754 00:43:33,960 --> 00:43:35,960 - So, first thing, good job. - Thank you. 755 00:43:36,040 --> 00:43:38,440 Second thing. You've set your company's valuation 756 00:43:38,520 --> 00:43:40,280 - at Rs. 40 crores. - Yes. 757 00:43:40,400 --> 00:43:41,920 - Is there a basis for it? - Yes. 758 00:43:42,000 --> 00:43:43,920 Firstly, at the idea stage, 759 00:44:09,600 --> 00:44:10,880 That, too, in six months! 760 00:44:11,000 --> 00:44:13,720 Our monthly revenue at the time was Rs. 8 lakhs. 761 00:44:13,960 --> 00:44:16,120 We're doing Rs. 31 lakhs monthly as of now. 762 00:44:33,000 --> 00:44:37,320 - 25% of it goes to our service partners. - Hmm. 763 00:44:37,400 --> 00:44:39,160 Our kit cost is 15%. 764 00:44:39,360 --> 00:44:41,240 So, our gross margin is 60%. 765 00:44:41,400 --> 00:44:42,600 Post that 60%, 766 00:44:42,640 --> 00:44:46,640 25% goes towards salaries to our in-house business team. 767 00:44:46,880 --> 00:44:48,840 Our marketing spend is 25%. 768 00:44:48,920 --> 00:44:52,640 Our other business operating expenses amount to 15%. 769 00:44:52,760 --> 00:44:55,320 - We're at -5% loss now. - -5%. 770 00:44:55,440 --> 00:44:58,600 Last month, we achieved breakeven and turned profitable. 771 00:44:58,720 --> 00:44:59,960 Something is amiss. 772 00:45:00,680 --> 00:45:03,200 - You said the average order value is Rs. 400. - Yes. 773 00:45:03,280 --> 00:45:05,600 How is all this possible in Rs. 400? 774 00:45:05,680 --> 00:45:07,280 Out of our revenue of Rs. 90 lakhs, 775 00:45:07,360 --> 00:45:09,360 Rs. 60 lakhs is generated from the sales of kits. 776 00:45:09,440 --> 00:45:12,200 - That's a one-time sale. - Take that component off. - Yes. 777 00:45:12,360 --> 00:45:13,440 - Okay. - That leaves you with? 778 00:45:13,560 --> 00:45:15,960 - Rs. 30 lakhs... - Rs. 30 lakhs. That's your revenue. 779 00:45:16,040 --> 00:45:17,280 Rs. 30 lakhs for the quarter. 780 00:45:17,360 --> 00:45:18,760 - Yes, Rs. 10 lakhs per month. - Rs. 10 lakhs per month. 781 00:45:18,840 --> 00:45:20,800 If one service costs Rs. 400, 782 00:45:20,880 --> 00:45:22,560 I don't understand how you'll make any money. 783 00:45:22,640 --> 00:45:24,920 We have a take rate of 15% on every service. 784 00:45:25,000 --> 00:45:27,600 - So, we get 15% on every service. - 15% revenue. 785 00:45:43,680 --> 00:45:46,920 - Suppose you take 300 partners. - Okay. 786 00:46:18,120 --> 00:46:22,080 so our operating costs will stagnate at a particular point, 787 00:46:22,200 --> 00:46:24,160 but our service revenue will keep increasing. 788 00:46:25,600 --> 00:46:29,080 Tell me your dream and aspiration in numbers. 789 00:46:29,200 --> 00:46:31,000 How big a business will you make in two years? 790 00:46:31,200 --> 00:46:34,880 We're projecting Rs. 40 crores in the second financial year. 791 00:46:34,960 --> 00:46:37,560 If you do Rs. 40 crores, your revenue will be Rs. 6 crores. 792 00:46:37,680 --> 00:46:38,520 Yes. 793 00:46:38,600 --> 00:46:40,480 If you talk about only service revenue, 794 00:46:40,560 --> 00:46:42,680 that will be only Rs. 3 crores out of Rs. 6 crores. 795 00:46:42,960 --> 00:46:44,840 - Actually, it'll be Rs. 2 crores. - Yes. 796 00:46:45,920 --> 00:46:50,680 You said you have big businessmen in your cap table. 797 00:46:50,800 --> 00:46:52,040 What advice are they giving you? 798 00:46:52,160 --> 00:46:54,480 We're in the early building stages. 799 00:46:54,560 --> 00:46:57,240 In Rs. 60 lakhs, 800 00:46:57,400 --> 00:47:01,240 we have created our own hardware, software and ecosystem. 801 00:47:01,320 --> 00:47:02,800 We've onboarded partners on this platform... 802 00:47:02,880 --> 00:47:03,920 Nobody cares, guys! 803 00:47:04,000 --> 00:47:05,520 I'm just trying to be honest with you. 804 00:47:06,440 --> 00:47:10,280 Who cares if you've made hardware, software or a battery? 805 00:47:10,400 --> 00:47:12,120 This is a car-cleaning service, my friend. 806 00:47:12,160 --> 00:47:13,600 It is completely commoditised. 807 00:47:13,720 --> 00:47:17,280 No one sees how your cleaning is as long as the car is clean. 808 00:47:17,600 --> 00:47:18,520 Let me tell you. 809 00:47:18,680 --> 00:47:20,880 There's a thin line 810 00:47:21,280 --> 00:47:22,800 between foolishness and bravery. 811 00:47:22,840 --> 00:47:27,360 It's the duty of your business advisors and investors 812 00:47:27,480 --> 00:47:28,760 to help you understand this. 813 00:47:29,080 --> 00:47:30,920 I think you guys are very talented 814 00:47:31,160 --> 00:47:33,480 and you should focus your energy on a real problem. 815 00:47:33,720 --> 00:47:34,640 I noticed 816 00:47:34,720 --> 00:47:36,840 that when you spoke about saving water, 817 00:47:37,200 --> 00:47:38,880 your eyes lit up. 818 00:47:39,680 --> 00:47:41,640 You seem to be passionate about the environment. 819 00:47:41,880 --> 00:47:43,120 You have that talent. 820 00:47:43,280 --> 00:47:46,000 Why don't you use that talent to solve a bigger problem? 821 00:47:46,080 --> 00:47:47,920 Clean energy is a massive problem. 822 00:47:48,160 --> 00:47:50,480 It will bring a transformation in the nation 823 00:47:50,640 --> 00:47:53,080 if people like you work in the field of clean energy. 824 00:47:53,400 --> 00:47:56,080 My advice to you is to redirect yourself, 825 00:47:56,200 --> 00:47:57,760 don't go down deeper in this 826 00:47:57,920 --> 00:48:01,120 and find that avenue you can be more passionate about. 827 00:48:01,560 --> 00:48:02,880 Okay? Good luck. I'm out. 828 00:48:04,640 --> 00:48:08,200 I find this business very difficult in terms of scaling 829 00:48:08,280 --> 00:48:10,720 because you've made it really complex. 830 00:48:10,840 --> 00:48:13,640 And for that reason, I'm out, but I wish you the best. 831 00:48:15,760 --> 00:48:18,240 I am also out, there are two reasons. 832 00:48:19,040 --> 00:48:22,560 Firstly, the market size of Rs. 3,600 crores currently, 833 00:48:22,680 --> 00:48:24,880 if we even take 20% of it, 834 00:48:25,000 --> 00:48:29,520 as per the fact that our revenue comes to 15% of it, 835 00:48:29,680 --> 00:48:32,400 the business could go to Rs. 70 to 80 crores at the most 836 00:48:32,480 --> 00:48:35,080 if you were to stretch it. 837 00:48:35,200 --> 00:48:37,400 So, scalability is a concern 838 00:48:37,480 --> 00:48:40,160 even if we assume 20% of people would convert to this. 839 00:48:40,760 --> 00:48:45,320 Secondly, you've raised funds at a good valuation already. 840 00:48:45,400 --> 00:48:48,920 It may not make sense for me to come in at this stage 841 00:48:49,040 --> 00:48:50,640 and invest at that valuation. 842 00:48:50,800 --> 00:48:52,720 So, I'm out. Best of luck. 843 00:48:54,200 --> 00:48:56,160 Look, you're solid founders. 844 00:48:56,320 --> 00:48:57,320 Your product is good. 845 00:48:57,560 --> 00:49:00,000 The market and the model are not defined yet. 846 00:49:00,880 --> 00:49:02,360 I am not ready to take that risk. 847 00:49:02,520 --> 00:49:04,960 I don't know if I will make money. 848 00:49:07,160 --> 00:49:11,600 I am out for that reason but continue doing this. 849 00:49:13,200 --> 00:49:16,880 I was really keen on doing this because it's a related category. 850 00:49:18,080 --> 00:49:19,880 I have the data of so many car owners. 851 00:49:20,040 --> 00:49:22,320 I can ride over it. I was all in for it. 852 00:49:22,440 --> 00:49:25,160 I didn't see a business mindset here at all. 853 00:49:25,240 --> 00:49:28,120 If I invest, then I'll have to run the company myself. 854 00:49:28,360 --> 00:49:31,000 If I have to do that, then I'll need the majority share. 855 00:49:32,480 --> 00:49:33,960 Today, I am out 856 00:49:34,160 --> 00:49:38,360 because I don't see a distribution mindset 857 00:49:38,480 --> 00:49:40,320 nor do I see a retention mindset. 858 00:49:40,480 --> 00:49:42,000 I see a technology mindset 859 00:49:42,200 --> 00:49:44,720 where you get one guy on board and sell four products. 860 00:49:45,040 --> 00:49:46,200 That's the essence of your business. 861 00:49:46,280 --> 00:49:49,440 Making money by washing cars at Rs. 400 is impossible. 862 00:49:50,400 --> 00:49:51,760 That's my final take. 863 00:49:53,840 --> 00:49:54,720 Good luck, guys. 864 00:49:54,800 --> 00:49:56,280 Pivot and refocus. All the best. 865 00:49:56,400 --> 00:49:57,640 - Good luck. - Good luck. Bye. 866 00:49:57,760 --> 00:49:59,160 - Thank you. - Thank you. Good luck. 867 00:50:02,400 --> 00:50:03,880 [music fades] 868 00:50:18,560 --> 00:50:20,240 Welcome to Ask The Shark, friends. 869 00:50:20,320 --> 00:50:21,600 Today is slightly different 870 00:50:21,720 --> 00:50:23,840 as the questions are not from you but me. 871 00:50:23,920 --> 00:50:24,760 So, it is my question 872 00:50:24,880 --> 00:50:26,960 and joining us to answer the question 873 00:50:32,360 --> 00:50:34,840 So, we know what due diligence is 874 00:50:34,840 --> 00:50:36,920 and what Shark Tank's due diligence process is. 875 00:50:37,320 --> 00:50:39,600 I want to know specifically from you. 876 00:50:48,560 --> 00:50:50,440 If the founder claims his revenue is Rs. 1 crore a month, 877 00:50:50,520 --> 00:50:52,680 is it really so? 878 00:50:52,760 --> 00:50:55,560 You said your return rate is 5%, for example. 879 00:50:55,760 --> 00:50:57,960 So, is it really 5% or 10%? 880 00:50:58,080 --> 00:50:59,800 So, we have to get down to that level. 881 00:50:59,880 --> 00:51:01,200 What's the profit margin, 882 00:51:01,360 --> 00:51:03,480 - contribution margin, contribution margin 2? - Yes. 883 00:51:03,640 --> 00:51:04,760 The EBITDA? 884 00:51:05,240 --> 00:51:08,720 Are these figures the same as you had claimed? 885 00:51:08,800 --> 00:51:12,760 - We verify the financial metrics. - Understood. 886 00:51:12,840 --> 00:51:17,000 And commercial diligence is where 887 00:51:17,360 --> 00:51:21,160 we validate the commercial aspects as the name suggests. 888 00:51:21,240 --> 00:51:24,760 For instance, you said the market size was Rs. 20,000 crores. 889 00:51:25,000 --> 00:51:28,880 So, it's an estimate. It's not always exact. 890 00:51:29,080 --> 00:51:31,280 We check whether the ballpark or estimate is right. 891 00:51:31,440 --> 00:51:33,360 You said you had three competitors. 892 00:51:33,520 --> 00:51:35,200 It turned out to be four, that's okay. 893 00:51:35,360 --> 00:51:39,120 But broadly, whether you mentioned facts is what we check. 894 00:52:12,760 --> 00:52:13,600 You stay tuned.