1 00:00:10,000 --> 00:00:11,880 [music playing] 2 00:00:22,000 --> 00:00:24,120 [music playing] 3 00:00:29,120 --> 00:00:31,200 Oh! Nice! 4 00:00:31,280 --> 00:00:34,000 - Look, it's something nice. - Next is watermelon. 5 00:00:34,680 --> 00:00:36,800 Menstrual pain treatment. 6 00:00:36,880 --> 00:00:38,680 - Whoa! Much needed. - That's highly needed. 7 00:00:42,600 --> 00:00:45,040 [music playing] 8 00:01:00,160 --> 00:01:02,960 - Sharks, stains are good. - But not pain. 9 00:01:03,040 --> 00:01:05,600 Half of our population, that is women, 10 00:01:06,000 --> 00:01:08,280 spend around 30-40 years of their life 11 00:01:23,200 --> 00:01:24,760 they can't go to school, 12 00:01:24,840 --> 00:01:28,000 or they call the HR and say that they want a day off. 13 00:01:28,080 --> 00:01:31,120 Sometimes, the situation is so bad that she clenches her stomach 14 00:01:31,200 --> 00:01:32,360 and sleeps all day. 15 00:01:32,440 --> 00:01:35,160 But conventional remedies are 16 00:01:45,040 --> 00:01:48,520 Although we might not be able to understand this pain, 17 00:01:48,600 --> 00:01:50,480 but we can surely be of some help. 18 00:01:50,560 --> 00:01:52,640 So, we created Matri. 19 00:01:54,000 --> 00:01:55,800 The off switch of menstrual pain. 20 00:02:02,600 --> 00:02:03,760 and have brought to you 21 00:02:05,400 --> 00:02:07,720 a portable, wearable, rechargeable, 22 00:02:36,680 --> 00:02:37,800 but our mission 23 00:02:37,920 --> 00:02:40,080 to make those days in the month, every month 24 00:02:40,200 --> 00:02:43,600 a pain-free menstrual experience and to break the taboo. 25 00:03:14,400 --> 00:03:17,600 Due to this problem, our families, our work, 26 00:03:17,760 --> 00:03:20,360 our moods, everything is impacted. 27 00:03:20,440 --> 00:03:23,280 In so many years, we've not had a solution for this. 28 00:03:23,400 --> 00:03:24,880 It's extremely disappointing. 29 00:03:24,960 --> 00:03:26,920 So, we will learn about your product. 30 00:03:27,000 --> 00:03:29,720 But please share your background first. 31 00:03:29,840 --> 00:03:31,400 We are actually school friends. 32 00:03:31,480 --> 00:03:35,120 So, we've worked on many small electronic projects since school. 33 00:03:35,200 --> 00:03:38,920 Then we went to college but continued working on projects. 34 00:03:39,000 --> 00:03:42,560 We worked on many projects like IoT, home automation, 35 00:03:42,640 --> 00:03:45,200 and we were noting down few points related to 36 00:03:45,280 --> 00:03:48,240 problems that a person can face every month. 37 00:03:48,360 --> 00:03:49,880 Menstrual pain was one of them. 38 00:03:49,960 --> 00:03:51,600 And where did you grow up? 39 00:03:51,680 --> 00:03:53,440 - We grew up in Kolkata. - Kolkata. 40 00:03:57,760 --> 00:04:00,240 But how did you make this leap? 41 00:04:04,800 --> 00:04:06,840 this problem existed in our house. 42 00:04:07,120 --> 00:04:08,720 My elder sister. 43 00:04:08,800 --> 00:04:12,360 Rohan's mom. It's not just ours, it's everyone's problem. 44 00:04:12,440 --> 00:04:14,240 So, we want to solve it. 45 00:04:14,320 --> 00:04:16,560 Using our knowledge of electronics. 46 00:04:16,640 --> 00:04:18,280 Which college did you both study in? 47 00:04:27,840 --> 00:04:29,440 to scale it up. 48 00:04:39,760 --> 00:04:42,440 So, we used the lab to make a basic prototype. 49 00:04:42,920 --> 00:04:45,680 After that, for further development, 50 00:04:45,760 --> 00:04:47,560 we needed a lot of money. 51 00:04:47,640 --> 00:04:49,400 So, we decided to 52 00:04:49,520 --> 00:04:53,040 make a normal LED bulb and sell it on Kolkata street. 53 00:04:53,160 --> 00:04:56,680 While going to college, we would both make 25 each, 54 00:04:56,840 --> 00:04:59,600 total 50 pieces, we sold it continuously for 3 months. 55 00:04:59,680 --> 00:05:00,960 - On the street. - Wow. 56 00:05:01,040 --> 00:05:03,480 So, we generated a capital of Rs 50,000-60,000. 57 00:05:03,560 --> 00:05:04,920 This was our first investment. 58 00:05:12,760 --> 00:05:15,680 And gave us seed funding of Rs 10 lakhs. 59 00:05:22,240 --> 00:05:24,680 We rectified problems that came up. 60 00:05:24,800 --> 00:05:26,560 So, in total, 14 product iterations. 61 00:05:33,480 --> 00:05:35,480 - Oh. - Oh my, God! 62 00:05:35,560 --> 00:05:36,320 Crazy. 63 00:05:36,440 --> 00:05:38,520 It looks like a switch. 64 00:05:38,640 --> 00:05:40,120 In a normal box, we put a circuit. 65 00:05:40,200 --> 00:05:42,280 So, you electrocuted someone for real. [chuckling] 66 00:05:42,400 --> 00:05:44,280 [laughing] 67 00:05:44,400 --> 00:05:46,480 These are all different. Old ones. 68 00:05:46,560 --> 00:05:48,600 - Okay. - The last is our current prototype. 69 00:05:48,680 --> 00:05:49,360 - Wow. - Excellent. 70 00:05:49,400 --> 00:05:51,880 You're Pad Man 2.0. 71 00:05:52,680 --> 00:05:54,520 The modern version of Pad Man. 72 00:05:55,640 --> 00:05:57,880 - What a mission! Fantastic! - Unbelievable! 73 00:05:57,960 --> 00:05:58,960 Thank you, Sir. 74 00:06:14,880 --> 00:06:16,680 Show us your product. 75 00:06:18,360 --> 00:06:20,120 [music playing] 76 00:06:20,840 --> 00:06:22,480 [music playing] 77 00:06:28,800 --> 00:06:31,480 We can use this device in two ways. 78 00:06:36,960 --> 00:06:39,880 Many working women don't want to use wired devices. 79 00:06:39,960 --> 00:06:41,560 They want to keep it inside. 80 00:06:41,640 --> 00:06:43,120 So, we have designed this for them. 81 00:06:43,200 --> 00:06:44,800 So, what happens exactly? 82 00:06:52,240 --> 00:06:54,520 That's when we realize that it's paining. 83 00:06:54,600 --> 00:06:57,880 We send a particular range of pulse through Matri 84 00:06:57,960 --> 00:07:00,560 that blocks the pain signal 85 00:07:00,680 --> 00:07:02,000 and doesn't let it reach the brain. 86 00:07:02,080 --> 00:07:03,720 And these pulses 87 00:07:03,800 --> 00:07:05,960 are specific for menstrual pain. 88 00:07:06,080 --> 00:07:08,480 Because the muscle structure is different here. 89 00:07:08,560 --> 00:07:10,200 There's uterus, fat, 90 00:07:10,280 --> 00:07:12,800 so we have designed the pulse according to it. 91 00:07:12,880 --> 00:07:15,520 Is it the same type of current 92 00:07:15,600 --> 00:07:19,680 that is used in physiotherapy? 93 00:07:19,760 --> 00:07:20,960 The same type of current? 94 00:07:21,040 --> 00:07:22,160 - Similar. - Similar. 95 00:07:22,240 --> 00:07:23,600 - This is the same concept. - Yes. 96 00:07:23,680 --> 00:07:26,920 This product can't have an IP. 97 00:07:27,040 --> 00:07:30,400 Because it's already being used for physiotherapy for years. 98 00:07:31,680 --> 00:07:33,200 Then where's the IP? 99 00:07:58,080 --> 00:08:00,520 The pulse in the device 100 00:08:15,640 --> 00:08:18,480 One of the IPs is the miniaturization. 101 00:08:18,600 --> 00:08:19,840 The second IP 102 00:08:19,920 --> 00:08:23,560 is for specifically addressing the pulse of menstrual pain, 103 00:08:23,640 --> 00:08:26,360 the research that you did, what is it specifically? 104 00:08:26,480 --> 00:08:28,000 Why can't someone else do it? 105 00:08:28,080 --> 00:08:30,920 We have two competitors in the market already. 106 00:08:31,040 --> 00:08:33,120 - Right. - One is an Israeli brand 107 00:08:33,160 --> 00:08:34,000 and the other is Indian. 108 00:08:34,040 --> 00:08:36,600 But compared to the rest of our competitors 109 00:08:36,680 --> 00:08:38,480 our performance is better. 110 00:08:38,600 --> 00:08:40,120 Because we have already 111 00:08:40,200 --> 00:08:42,040 tested both the devices on women. 112 00:08:42,120 --> 00:08:43,520 Have you done government testing? 113 00:08:43,600 --> 00:08:45,560 - CDSCO gives a license. - Okay. 114 00:08:54,760 --> 00:08:55,960 when you experienced problem in your house. 115 00:08:56,000 --> 00:08:58,040 - Yes. - Did you test it in your house? 116 00:08:58,160 --> 00:09:00,200 People at home who have used it 117 00:09:00,280 --> 00:09:02,680 told us that the pain goes away in 10-15 minutes. 118 00:09:02,760 --> 00:09:04,320 So, we didn't believe them. 119 00:09:04,440 --> 00:09:07,840 Then we approached friends, 120 00:09:07,920 --> 00:09:09,440 - neighbours. - Neighbours. 121 00:09:09,520 --> 00:09:11,200 And we kept getting feedback. 122 00:09:11,320 --> 00:09:13,440 On a scale of 1 to 10, how much does it reduce? 123 00:09:22,560 --> 00:09:24,320 that this product is effective? 124 00:09:24,400 --> 00:09:25,880 Apart from our mentor madam, 125 00:09:26,000 --> 00:09:28,040 we haven't taken feedback from any other gynaec. 126 00:09:28,120 --> 00:09:31,040 But it's been two months since we gave it to gyms and hospitals. 127 00:09:38,760 --> 00:09:42,640 In the end, only doctors are going to recommend this. 128 00:09:46,920 --> 00:09:50,120 And we're also talking with AIIMS for this testing. 129 00:09:50,560 --> 00:09:52,800 What's your plan now? What are the next steps? 130 00:10:08,400 --> 00:10:09,880 How will you create awareness about it? 131 00:10:22,560 --> 00:10:24,200 where you can 132 00:10:24,320 --> 00:10:25,840 increase the demand overnight because 133 00:10:25,920 --> 00:10:27,200 you're solving a good problem, 134 00:10:27,280 --> 00:10:29,160 and it can be an overnight success. 135 00:10:30,560 --> 00:10:34,560 I agree that waiting for a gynaec to prescribe this 136 00:10:34,640 --> 00:10:36,280 - is a long journey. - Exactly. 137 00:10:36,360 --> 00:10:38,920 In fact, people should be going to their gynaec 138 00:10:39,360 --> 00:10:41,640 and ask them whether they can use this. 139 00:10:49,760 --> 00:10:53,040 Ultimately, how big a business do you see in the next 4-5 years? 140 00:10:53,280 --> 00:10:54,440 Around Rs. 100 crores. 141 00:10:56,400 --> 00:10:57,680 Just based on this product? 142 00:10:57,760 --> 00:10:59,720 No, we have other products in the pipeline. 143 00:10:59,800 --> 00:11:02,240 For example, 144 00:11:02,520 --> 00:11:03,880 during labour pain, 145 00:11:03,960 --> 00:11:06,240 - it causes a lot of pain. - Yeah. 146 00:11:06,320 --> 00:11:07,840 So, we were thinking 147 00:11:22,760 --> 00:11:24,800 It's not required, you can try. 148 00:11:24,880 --> 00:11:27,240 But this is very good if it works. 149 00:11:28,320 --> 00:11:29,960 You have to eliminate pain. 150 00:11:30,720 --> 00:11:32,440 Okay, guys, you're interesting. 151 00:11:32,960 --> 00:11:35,760 The area is good, the problem is big. I think that 152 00:11:35,880 --> 00:11:37,600 you have to work a bit more on your 153 00:11:37,600 --> 00:11:39,480 business acumen and marketing instinct. 154 00:11:39,880 --> 00:11:42,000 You look like people with a strong product background. 155 00:11:42,080 --> 00:11:45,320 But the perseverance and depth 156 00:11:45,400 --> 00:11:47,000 is something you've already demonstrated. 157 00:11:47,000 --> 00:11:48,800 You've been at this problem for so many years. 158 00:11:48,800 --> 00:11:50,440 You've created something very good. 159 00:11:51,880 --> 00:11:53,120 I'll make you an offer. 160 00:11:53,200 --> 00:11:55,800 [music playing] 161 00:11:56,040 --> 00:11:59,120 It's a very early stage. Pre-revenue. So my offer is simple. 162 00:12:07,760 --> 00:12:09,360 I'll match that offer. 163 00:12:14,560 --> 00:12:17,480 But I'll go solo because there's a lot of work involved here. 164 00:12:17,560 --> 00:12:19,880 [music playing] 165 00:12:19,960 --> 00:12:22,720 You showed us so many iterations. 166 00:12:22,800 --> 00:12:24,120 I'm very impressed. 167 00:12:24,200 --> 00:12:26,600 You have persistence, but there's a lot of work to do here. 168 00:12:27,720 --> 00:12:30,080 Literally, what you've created is 169 00:12:30,160 --> 00:12:35,400 a life-changing product for women. 170 00:12:35,560 --> 00:12:36,760 If it works. 171 00:12:36,840 --> 00:12:38,280 So, obviously, 172 00:12:38,360 --> 00:12:40,800 your story and your perseverance, 173 00:12:40,880 --> 00:12:42,720 the way you sold bulbs 174 00:12:42,840 --> 00:12:45,800 to collect the money to make these products, 175 00:12:45,880 --> 00:12:46,880 it is incredible. 176 00:12:48,160 --> 00:12:50,680 Now, I don't know 177 00:12:50,760 --> 00:12:53,040 if you really want to do D2C or 178 00:12:53,160 --> 00:12:54,480 do you want to approach hospitals. 179 00:12:54,480 --> 00:12:56,720 Because if you want to approach hospitals, it makes sense 180 00:12:56,800 --> 00:12:58,640 to take Namita's deal on any terms. 181 00:13:00,760 --> 00:13:02,880 But if you want to make this a D2C brand, 182 00:13:02,960 --> 00:13:07,360 then I'd love to help you as well. I'll offer you Rs. 60 lakhs for 6%. 183 00:13:15,400 --> 00:13:18,160 So, you'll get both 184 00:13:18,240 --> 00:13:20,320 consumer D2C with us 185 00:13:20,400 --> 00:13:24,160 because we're launching that in January. Our entire team is ready. 186 00:13:24,280 --> 00:13:26,200 And you'll also get healthcare. 187 00:13:26,280 --> 00:13:28,480 But one completely unrelated question, 188 00:13:28,560 --> 00:13:32,720 it reminds me of my solo investment, Ranodeep Saha. 189 00:13:32,920 --> 00:13:35,000 Yes, he's my cousin brother. 190 00:13:35,080 --> 00:13:37,000 - Whoa! - Who? 191 00:13:37,240 --> 00:13:38,920 Ranodeep. Rare Planet. 192 00:13:46,880 --> 00:13:48,360 - Oh my! - Best! 193 00:13:48,440 --> 00:13:49,440 Best investment! 194 00:13:49,520 --> 00:13:51,480 All roads lead to Rare Planet. 195 00:13:51,840 --> 00:13:54,040 Number one investment 196 00:13:54,120 --> 00:13:57,560 of season 1 and 2 put together in terms of sales, 197 00:13:57,680 --> 00:14:01,000 stores, valuation, in every way. 198 00:14:01,880 --> 00:14:03,880 I'll tell you something, brother. 199 00:14:04,000 --> 00:14:06,760 People say that this is a woman's problem. 200 00:14:06,880 --> 00:14:10,200 But I think that you're solving a much bigger problem. 201 00:14:10,440 --> 00:14:12,120 This is called doing good for the world. 202 00:14:12,240 --> 00:14:14,000 Because when women's problems are solved, 203 00:14:14,080 --> 00:14:15,920 they are happy, then men will be happy too. 204 00:14:16,240 --> 00:14:18,600 You're bringing joy to every household. 205 00:14:18,800 --> 00:14:20,080 I'll change the offer. 206 00:14:31,280 --> 00:14:33,160 keep it aside. Okay? 207 00:14:33,280 --> 00:14:34,720 Now, the story ahead 208 00:14:34,800 --> 00:14:37,600 has to pace up. 209 00:14:37,760 --> 00:14:39,080 I'll tell you my story. 210 00:14:39,200 --> 00:14:41,040 When we launched our product, 211 00:14:41,160 --> 00:14:43,800 in 6 years, we built a company worth Rs. 4000 crores. 212 00:14:44,880 --> 00:14:46,920 7 crores, 30 crores, 100 crores. 213 00:14:47,160 --> 00:14:48,960 300 crores, 2000 crores, 4000 crores. 214 00:14:49,720 --> 00:14:51,360 Now that you've understood the product, 215 00:14:51,440 --> 00:14:53,280 there will be many copies of it. 216 00:14:53,360 --> 00:14:55,240 And before those copies come in, you have to... 217 00:14:55,320 --> 00:14:58,040 it's very important that 218 00:14:58,120 --> 00:14:59,760 you scale it up overnight. 219 00:14:59,880 --> 00:15:01,320 And I can help you with that. 220 00:15:02,640 --> 00:15:04,520 What percentage of consumers are women? 221 00:15:06,200 --> 00:15:07,960 [laughing] 222 00:15:09,680 --> 00:15:12,840 Okay? I'll make you an offer. The same that you asked for. 223 00:15:21,040 --> 00:15:23,440 I'll match him at Rs. 60 lakhs for 4%, what you asked for. 224 00:15:32,480 --> 00:15:33,200 Yes, ma'am. 225 00:15:33,320 --> 00:15:36,560 I think along with your product skills, 226 00:15:36,920 --> 00:15:39,080 you'll need good business 227 00:15:39,160 --> 00:15:41,760 and scaling skills 228 00:15:41,880 --> 00:15:43,200 as well. 229 00:15:43,280 --> 00:15:44,680 I think that 230 00:15:44,760 --> 00:15:47,560 it's my responsibility to make you a good offer. 231 00:15:48,560 --> 00:15:51,960 So, I think that you'll need money. 232 00:15:52,080 --> 00:15:53,240 Oh! 233 00:15:53,360 --> 00:15:55,240 To scale up this business. 234 00:15:55,440 --> 00:15:58,080 I'll give you an offer for 4%. 235 00:16:12,760 --> 00:16:14,840 [music playing] 236 00:16:16,080 --> 00:16:18,320 I think the craze in 2021 237 00:16:18,400 --> 00:16:21,440 was because of too much demand and very little supply. 238 00:16:21,880 --> 00:16:25,800 All the investors had so much money, just like these Sharks. 239 00:16:26,480 --> 00:16:27,720 Chasing a few companies. 240 00:16:27,800 --> 00:16:29,360 The valuation reached here. 241 00:16:29,440 --> 00:16:32,360 ROI, returns, everything went out of the window. 242 00:16:32,440 --> 00:16:34,600 I can't be a part of that. 243 00:16:34,720 --> 00:16:37,680 I think Rs. 25 crores is a very high valuation for you. 244 00:16:38,440 --> 00:16:39,960 The stage that you are at. 245 00:16:41,320 --> 00:16:43,040 So, I'm out. Good luck. 246 00:16:45,640 --> 00:16:47,600 Don't chase valuation. 247 00:16:48,000 --> 00:16:50,440 It's not good. Choose the right shark. 248 00:16:50,560 --> 00:16:53,000 [music playing] 249 00:16:54,040 --> 00:16:54,880 Can we have a minute? 250 00:16:54,960 --> 00:16:56,960 - Yes, please think it through. - Yes, please. 251 00:16:58,840 --> 00:17:00,920 I hope this works. This product. 252 00:17:01,000 --> 00:17:03,320 That's subject to technical due dliigence. 253 00:17:03,400 --> 00:17:04,880 There are two chances here. 254 00:17:04,960 --> 00:17:07,480 Either we can request Namita ma'am 255 00:17:07,760 --> 00:17:10,560 to combine the offer with everyone. 256 00:17:10,640 --> 00:17:12,720 Number one. Or 257 00:17:12,920 --> 00:17:16,840 take Namita ma'am and ask her to join in with someone. 258 00:17:16,920 --> 00:17:19,720 But if it works, it's like crazy. 259 00:17:19,800 --> 00:17:21,400 They don't know they're sitting on a gold mine. 260 00:17:21,400 --> 00:17:23,960 [mumbling] 261 00:17:24,040 --> 00:17:25,800 [mumbling] 262 00:17:25,880 --> 00:17:27,520 [mumbling] 263 00:17:27,600 --> 00:17:29,160 They're still thinking. 264 00:17:29,720 --> 00:17:32,080 I see a lot of energy when returning. 265 00:17:32,200 --> 00:17:33,720 - What strides! - Wow! 266 00:17:33,800 --> 00:17:36,360 - Both of them are happy. - Very happy. It shows. 267 00:17:36,440 --> 00:17:38,880 - It's showing. - Whom did you talk to? 268 00:17:39,240 --> 00:17:40,280 I spoke to my brother, Ranodeep. 269 00:17:40,280 --> 00:17:42,360 Oh, then the decision is made. 270 00:17:42,480 --> 00:17:43,960 Did you have to talk to him? 271 00:17:44,040 --> 00:17:45,120 You should've told me that. 272 00:17:45,120 --> 00:17:47,560 Do you know that Ranodeep calls me mom? 273 00:17:47,640 --> 00:17:49,840 - Damn it! - Go to your mom then. 274 00:17:50,360 --> 00:17:52,240 - Come. - Ma'am, I have an ask. 275 00:17:52,320 --> 00:17:54,080 Oh god! 276 00:17:54,160 --> 00:17:57,120 We want to sell this device D2C. 277 00:17:57,200 --> 00:18:00,400 Can you collaborate with another Shark? 278 00:18:00,520 --> 00:18:03,720 No, I'll tell you why. I'm going into D2C in January. 279 00:18:03,960 --> 00:18:06,800 And 4% is very less for me. 280 00:18:14,920 --> 00:18:16,680 They're so sweet. 281 00:18:16,760 --> 00:18:18,160 I'll help you. 282 00:18:18,920 --> 00:18:20,160 Okay, Aman, let's do it. 283 00:18:20,280 --> 00:18:21,800 - Let's do it. Let's solve it. - Yeah! 284 00:18:30,120 --> 00:18:31,360 Thank you. 285 00:18:32,040 --> 00:18:34,440 [music playing] 286 00:20:13,760 --> 00:20:15,280 Retirement is... 287 00:20:15,480 --> 00:20:16,600 It is not an answer. 288 00:20:16,720 --> 00:20:19,440 It's a misconception that we should retire at 60. 289 00:20:19,520 --> 00:20:23,440 [song playing] 290 00:20:23,520 --> 00:20:25,560 Receiving funding becomes the main challenge 291 00:20:25,640 --> 00:20:27,000 once you surpass 60. 292 00:20:27,120 --> 00:20:29,440 [song playing] 293 00:20:34,000 --> 00:20:35,640 When I go to a bank, 294 00:20:35,720 --> 00:20:37,600 they like my project, 295 00:20:37,680 --> 00:20:39,160 but they mention that I am 70 years old. 296 00:20:39,360 --> 00:20:41,080 So, they refuse to give me money 297 00:20:41,160 --> 00:20:43,000 when I need it. 298 00:20:43,080 --> 00:20:45,520 The government claims that it can provide a loan. 299 00:20:45,600 --> 00:20:47,000 Who knows who will die and when? 300 00:20:47,080 --> 00:20:49,760 [song playing] 301 00:20:59,680 --> 00:21:01,680 If I want a car worth Rs. 2 crores, 302 00:21:01,760 --> 00:21:04,000 and I visit the showroom to make a purchase, 303 00:21:04,080 --> 00:21:06,800 they will gladly give me the car. 304 00:21:08,080 --> 00:21:10,600 But you won't give Rs. 2 crores 305 00:21:10,680 --> 00:21:13,320 to someone who runs a business 306 00:21:13,440 --> 00:21:18,080 that will generate job opportunities and contribute to 307 00:21:18,200 --> 00:21:19,360 the country's growth. 308 00:21:19,440 --> 00:21:20,680 I don't get this. 309 00:21:22,800 --> 00:21:25,120 Should any of the Sharks decide to invest, 310 00:21:25,200 --> 00:21:29,360 our working capital needs will be met. 311 00:21:29,440 --> 00:21:31,840 [song playing] 312 00:21:36,800 --> 00:21:40,080 [song continues] 313 00:21:49,240 --> 00:21:50,400 - Greetings, Sharks! - Hello, Sharks. 314 00:21:50,480 --> 00:21:51,640 Hi! 315 00:21:53,360 --> 00:21:55,640 I am Rahul Butalia. 316 00:21:55,880 --> 00:21:57,160 We are from Delhi. 317 00:21:57,280 --> 00:22:00,880 - We have a small toy factory in Delhi. - Lovely! 318 00:22:00,960 --> 00:22:02,440 The toys we make 319 00:22:02,520 --> 00:22:04,720 are made of natural rubber foam. 320 00:22:05,560 --> 00:22:07,000 They are biodegradable 321 00:22:07,120 --> 00:22:09,120 and they are sold worldwide. 322 00:22:09,200 --> 00:22:11,680 When you look at them, it is love at first sight. 323 00:22:11,760 --> 00:22:14,880 When you touch them, it will be love at first touch. 324 00:22:14,960 --> 00:22:16,000 Really? 325 00:22:16,480 --> 00:22:17,640 Vegetables. 326 00:22:17,760 --> 00:22:20,680 Wonderful! The Batmobile is mine. 327 00:22:22,800 --> 00:22:24,440 My God! It is so soft. 328 00:22:24,880 --> 00:22:25,880 It is extremely soft. 329 00:22:31,600 --> 00:22:34,480 I hope you know what that means. 330 00:22:34,560 --> 00:22:36,080 They are in charge, and I do the work. 331 00:22:36,160 --> 00:22:37,480 Okay! 332 00:22:37,600 --> 00:22:41,440 You can see that our toys are unique. 333 00:22:41,520 --> 00:22:44,040 These are also useful for children 334 00:22:44,160 --> 00:22:46,600 with special needs, 335 00:22:51,760 --> 00:22:53,080 - SNAP? - SNAP! 336 00:22:57,560 --> 00:22:59,080 Each toy 337 00:23:06,080 --> 00:23:09,160 as many employment opportunities as possible. 338 00:23:09,240 --> 00:23:11,400 - That is great. - We are lonely! 339 00:23:11,480 --> 00:23:13,000 Do you know why? We are the only ones 340 00:23:13,120 --> 00:23:14,960 in the world who are making this product. 341 00:23:15,040 --> 00:23:17,760 We could have had a word with those who were doing the same thing. 342 00:23:17,840 --> 00:23:20,400 Nobody is producing these products and no one can make them. 343 00:23:20,480 --> 00:23:22,040 Our ask is 344 00:23:22,120 --> 00:23:25,200 - we can dilute 5% of our equity. - Yes, sir. 345 00:23:25,360 --> 00:23:26,840 For a minimum of Rs. 2 crores. 346 00:23:32,320 --> 00:23:33,880 You are chill, Mr. Rahul. 347 00:23:34,000 --> 00:23:35,680 I really like the toys. 348 00:23:35,760 --> 00:23:38,800 - Because the touch and feel are good. - Yes. Thank you. 349 00:23:38,880 --> 00:23:40,600 I think you can also bite them. 350 00:23:40,680 --> 00:23:44,280 - They are biodegradable, so I doubt they have harmful chemicals. - Yes! 351 00:23:44,440 --> 00:23:46,280 - However, I am sorry to interrupt you, Shark. - Yes. 352 00:23:46,440 --> 00:23:49,960 On our packaging, we warn them that 353 00:23:50,040 --> 00:23:52,280 - this is not intended for use as a teething toy. - Okay! 354 00:23:52,360 --> 00:23:54,120 A child who is teething 355 00:23:54,240 --> 00:23:55,920 will also chew on wood. 356 00:23:56,000 --> 00:23:57,840 - I know because we have three children. - Yes. 357 00:23:57,920 --> 00:24:01,400 Do you think it is more suitable for infants 358 00:24:01,520 --> 00:24:02,800 or when they are a little older? 359 00:24:02,880 --> 00:24:04,680 Up to three or four years. Not more than that. 360 00:24:04,800 --> 00:24:06,720 Most of the toys are made in China. 361 00:24:06,840 --> 00:24:08,480 - Yes! - I have a daughter. 362 00:24:08,560 --> 00:24:10,680 I get so frustrated when opening the packaging. 363 00:24:10,920 --> 00:24:13,440 It is such an effort to open it. 364 00:24:13,520 --> 00:24:15,760 - It is a lethal weapon. - Yes, it is. 365 00:24:15,840 --> 00:24:17,080 Not the toy, but the packaging. 366 00:24:35,840 --> 00:24:37,160 No! They are still not available. 367 00:24:37,280 --> 00:24:39,400 - Are there no rubber foam toys available? - No! 368 00:24:39,480 --> 00:24:40,360 Not even now? 369 00:24:40,360 --> 00:24:43,960 If you find a rubber foam manufacturer worldwide, 370 00:24:44,240 --> 00:24:46,200 I will sell this company I own 371 00:24:46,280 --> 00:24:47,800 for 10 paise to any of you. 372 00:24:47,920 --> 00:24:49,680 - No liabilities! - Oh! 373 00:24:49,760 --> 00:24:51,720 People come to us. 374 00:24:53,040 --> 00:24:55,000 - Have you been to France? - Yes. 375 00:24:55,120 --> 00:24:57,760 - Have you been to the Pompidou Centre? - No. 376 00:24:57,840 --> 00:25:02,320 - Pompidou Centre is a famous store in all of France. - Yes. 377 00:25:02,400 --> 00:25:03,360 For toys? 378 00:25:03,440 --> 00:25:06,360 In Pompidou Centre, our toys take pride of place. 379 00:25:06,480 --> 00:25:07,400 Very nice, sir. 380 00:25:07,520 --> 00:25:08,960 - Wow! - They provide small shelves for everyone. 381 00:25:09,040 --> 00:25:10,160 But our shelf extends from ceiling to floor. 382 00:25:10,240 --> 00:25:12,200 - Under your brand name? - Absolutely, ma'am. 383 00:25:13,480 --> 00:25:15,240 Are these products for local markets or exports? 384 00:25:58,440 --> 00:26:01,400 - I have been observing you for quite some time. - Yes. 385 00:26:01,480 --> 00:26:04,120 - I have a personal question for you. -Okay! 386 00:26:04,200 --> 00:26:06,360 At 70, people usually 387 00:26:06,440 --> 00:26:08,880 prefer a slower pace, 388 00:26:09,080 --> 00:26:12,080 enjoying quality time with their grandchildren and friends. 389 00:26:12,080 --> 00:26:15,200 Slow down a bit and maybe try out yoga or meditation. 390 00:26:15,280 --> 00:26:17,480 On the other hand, an entrepreneur's life 391 00:26:17,560 --> 00:26:19,440 is working round the clock. 392 00:26:19,600 --> 00:26:21,560 So, every morning, 393 00:26:21,680 --> 00:26:24,760 what motivates you to work tirelessly 394 00:26:24,840 --> 00:26:27,920 at the age of 70? 395 00:26:28,000 --> 00:26:30,400 The realisation that I am 70, 396 00:26:30,520 --> 00:26:33,360 but others are in their 20s and 30s. 397 00:26:33,440 --> 00:26:37,000 - Firstly, I have the experience and I can do more than them. - Okay. 398 00:26:37,120 --> 00:26:39,120 Secondly, I love what I do. 399 00:26:39,240 --> 00:26:41,120 On some days, my wife 400 00:26:41,200 --> 00:26:44,000 refuses to go to work on a Sunday. 401 00:26:44,080 --> 00:26:45,880 But I go. I love what I do. 402 00:26:46,600 --> 00:26:48,120 Mr. Rahul, how do you 403 00:26:48,200 --> 00:26:51,400 balance your responsibilities with your family members? 404 00:26:51,480 --> 00:26:53,120 My wife does the designs. 405 00:26:53,200 --> 00:26:54,560 My niece handles marketing. 406 00:26:54,680 --> 00:26:55,840 She annoys me. 407 00:26:55,840 --> 00:26:57,720 She starts bossing me around every morning. 408 00:26:58,800 --> 00:27:01,880 We would like to talk to your wife. You are really beautiful. 409 00:27:01,960 --> 00:27:04,200 Please elaborate on 410 00:27:04,280 --> 00:27:05,680 what your responsibility entails. 411 00:27:05,760 --> 00:27:07,680 Where do you draw inspiration from? 412 00:27:07,760 --> 00:27:10,520 We always consider the needs of the child. 413 00:27:10,600 --> 00:27:12,640 Every January, 414 00:27:12,800 --> 00:27:16,520 we attend a toy fair in Germany. 415 00:27:16,600 --> 00:27:19,960 Toy companies from all over the globe attend the fair. 416 00:27:20,040 --> 00:27:22,280 So, we get to learn a lot there. 417 00:27:22,480 --> 00:27:24,080 Nowadays, as parents, 418 00:27:24,160 --> 00:27:27,320 many parents are opting for toys that have 419 00:27:27,400 --> 00:27:29,560 - an educational component. - Yes. 420 00:27:29,640 --> 00:27:32,240 Fisher-Price, for instance, offers toys 421 00:27:32,320 --> 00:27:35,280 where, if you press buttons, you'll see colours and hear music playing. 422 00:27:35,360 --> 00:27:38,720 If you use a hammer toy, it helps improve your motor skills. 423 00:27:38,800 --> 00:27:41,880 - Educational toys are becoming more popular these days. - Yes. 424 00:27:41,960 --> 00:27:44,560 Why didn't you consider adding an educational aspect to this? 425 00:27:44,680 --> 00:27:47,120 We believe that children 426 00:27:47,200 --> 00:27:50,080 absorb everything 427 00:27:50,480 --> 00:27:52,240 until the age of three. 428 00:27:52,360 --> 00:27:54,360 And not from... 429 00:27:54,440 --> 00:27:56,000 The child will eventually do it. 430 00:27:56,120 --> 00:27:59,160 But our toys are comfortable. 431 00:27:59,440 --> 00:28:01,480 We receive reviews 432 00:28:01,600 --> 00:28:04,440 and recommendations that urge us 433 00:28:04,720 --> 00:28:05,880 to keep it simple. 434 00:28:06,200 --> 00:28:07,960 Sir, how much is this for? 435 00:28:08,440 --> 00:28:10,640 In India or... 436 00:28:10,960 --> 00:28:13,520 If you launch in India, how much will it cost? 437 00:28:13,600 --> 00:28:15,480 We will sell this for approximately Rs. 1,200. 438 00:28:15,600 --> 00:28:17,920 Rs. 1,200? It's way too expensive in India. 439 00:28:18,720 --> 00:28:19,880 Price of the keychain? 440 00:28:19,960 --> 00:28:21,360 For approximately Rs. 100. 441 00:28:27,080 --> 00:28:28,120 Around Rs. 1,500. 442 00:28:28,200 --> 00:28:30,000 As far as I know, such puzzles 443 00:28:30,080 --> 00:28:32,280 are sold in the market for around Rs. 250. 444 00:28:32,400 --> 00:28:33,400 Yeah! 445 00:28:33,480 --> 00:28:35,360 Of course, the quality is different. 446 00:28:35,440 --> 00:28:38,040 But how many people will pay Rs. 1,500 for this when they can 447 00:28:38,040 --> 00:28:39,120 buy something similar for Rs. 200? 448 00:28:39,200 --> 00:28:41,480 - Many! - Define many! 449 00:29:16,840 --> 00:29:18,400 What happened? Did you cease your business? 450 00:29:18,480 --> 00:29:20,120 I was unwell. 451 00:29:20,200 --> 00:29:21,920 - It was shut down for how long? - A minor problem. 452 00:29:21,960 --> 00:29:24,400 - Sorry to hear that. - No, it's okay. 453 00:29:24,480 --> 00:29:26,560 I am not bothered about it. Why are you apologising? 454 00:29:26,800 --> 00:29:30,200 You mentioned your business was shut down for some time. For how long? 455 00:29:30,280 --> 00:29:33,360 - We faced challenges during COVID. - Okay. 456 00:29:33,440 --> 00:29:35,560 - It's over now. - It came uninformed. - Yes. 457 00:29:35,640 --> 00:29:38,800 - I suffered a stroke in 2014. - Okay. 458 00:29:38,920 --> 00:29:41,280 Our business experienced a decline following that incident. 459 00:29:41,960 --> 00:29:44,440 So, you restarted the business last year. 460 00:30:06,200 --> 00:30:08,920 Me, Meera, and Meghla hold shares. 461 00:30:09,040 --> 00:30:11,800 I also have two daughters. It is in their names as well. 462 00:30:12,480 --> 00:30:13,720 How is it split? 463 00:30:30,600 --> 00:30:31,880 Do you need capital 464 00:30:31,960 --> 00:30:34,000 or Sharks? Tell us honestly. 465 00:30:51,520 --> 00:30:54,200 But because of my age, they don't go ahead with it. 466 00:30:54,720 --> 00:30:56,440 I can't help it if I am 70. 467 00:30:56,520 --> 00:30:58,760 - Take Meghla's help. - We are. 468 00:30:59,520 --> 00:31:01,680 - They require two people! - They need two people. 469 00:31:14,880 --> 00:31:17,440 you'll need an estimated working capital of around Rs. 20 Crores. 470 00:31:17,560 --> 00:31:18,440 How will you manage that? 471 00:31:18,520 --> 00:31:22,120 Rs. 2 crores will only take you to Rs. 8 crores. 472 00:31:22,200 --> 00:31:24,080 - How will you move forward from here? - Maximum Rs. 10 crores. 473 00:31:25,200 --> 00:31:26,040 The sales will be Rs. 10 Crores, right? 474 00:31:26,120 --> 00:31:28,200 - Okay! - I will make a profit, 475 00:31:28,280 --> 00:31:29,520 which gets ploughed back into the company. 476 00:31:29,640 --> 00:31:31,720 - That is a slow... - It's not slow. 477 00:31:32,880 --> 00:31:34,000 What is your profit? 478 00:31:34,360 --> 00:31:35,400 I am scared to tell you. 479 00:31:35,520 --> 00:31:36,960 [laughing] 480 00:31:37,080 --> 00:31:39,320 Then I am scared to write you a cheque. 481 00:31:39,400 --> 00:31:41,360 I will tell you! 482 00:31:41,480 --> 00:31:43,360 I will make a profit of around Rs. 55 - Rs. 60 lakhs 483 00:31:43,360 --> 00:31:44,880 on sales of Rs. 4 crores. 484 00:31:51,160 --> 00:31:53,040 that you will justify 485 00:31:53,160 --> 00:31:56,320 a minimum of Rs. 2 crores for a 5% equity stake. 486 00:31:56,440 --> 00:31:58,400 If I want to sell my brand, 487 00:32:05,560 --> 00:32:06,480 How? 488 00:32:06,560 --> 00:32:07,600 I've got offers. 489 00:32:07,720 --> 00:32:10,720 - Who has given you offers and what size... - People come to me 490 00:32:10,800 --> 00:32:12,080 at the fair. 491 00:32:12,160 --> 00:32:13,520 One person came to me 492 00:32:13,640 --> 00:32:15,680 and he told me that he liked my brand, 493 00:32:15,760 --> 00:32:17,480 so he asked me to sell it to him. 494 00:32:19,480 --> 00:32:22,320 He wrote a cheque for ยค5 million, but I refused to accept it. 495 00:32:22,400 --> 00:32:24,760 Don't invest. But do one thing. 496 00:32:24,840 --> 00:32:27,520 Buy a ticket for Rs. 2 lakhs and attend our fair. 497 00:32:27,880 --> 00:32:31,440 When you attend the fair, you will know how people interact with us. 498 00:32:31,880 --> 00:32:32,920 Believe me! 499 00:32:33,640 --> 00:32:35,480 Most family-run businesses, 500 00:32:35,560 --> 00:32:37,160 especially in your business, 501 00:32:37,240 --> 00:32:39,920 because you're 70 and hold a unique position. 502 00:32:40,040 --> 00:32:42,680 We also had this conversation with my dad about our business 503 00:32:42,760 --> 00:32:44,360 and everything is documented. 504 00:32:44,480 --> 00:32:46,040 What is the succession planning? 505 00:32:50,960 --> 00:32:53,080 But in the worst-case scenario... 506 00:33:02,520 --> 00:33:04,440 She has the time. I will be there for 5 years. 507 00:33:04,520 --> 00:33:08,480 Have you transferred your equity to her in your will? 508 00:33:08,560 --> 00:33:09,640 I don't have a will. 509 00:33:10,040 --> 00:33:13,120 Firstly, everything is documented. People are trained in my factory. 510 00:33:13,200 --> 00:33:14,680 But who will be the CEO? 511 00:33:15,240 --> 00:33:16,880 The CEO will be a professional 512 00:33:17,000 --> 00:33:20,360 whom we will hire. But our understanding is that 513 00:33:30,240 --> 00:33:32,760 The way I invest is that 514 00:33:32,840 --> 00:33:36,600 I want to be with a business for the long term. 515 00:33:36,680 --> 00:33:38,800 Your vision is to reach annual sales of Rs. 80 crores 516 00:33:38,800 --> 00:33:40,760 in five years and sell the company. 517 00:33:40,840 --> 00:33:44,040 This doesn't fit with my investment philosophy. 518 00:33:44,160 --> 00:33:45,960 And for that reason, I am out. 519 00:33:46,040 --> 00:33:47,680 But I genuinely wish you the best. 520 00:33:47,840 --> 00:33:48,840 Thank you. 521 00:33:49,040 --> 00:33:51,200 Your innovation 522 00:33:51,280 --> 00:33:54,200 and courage... You built this company. 523 00:33:54,280 --> 00:33:55,480 It's exceptional. 524 00:33:55,560 --> 00:33:58,240 - Thank you. - However, 525 00:33:58,360 --> 00:34:00,560 based on your communication style, 526 00:34:00,680 --> 00:34:04,280 as an investor, I sense that 527 00:34:04,360 --> 00:34:07,360 you may not be receptive to suggestions from others. 528 00:34:07,880 --> 00:34:11,080 So, I felt a certain degree of self-obsession, 529 00:34:11,160 --> 00:34:13,200 and that you know everything 530 00:34:13,280 --> 00:34:17,360 and there is nothing you can learn from an investor. 531 00:34:17,440 --> 00:34:19,320 It could be that I am mistaken. 532 00:34:19,400 --> 00:34:22,360 But this is why I don't think 533 00:34:22,440 --> 00:34:24,960 we are a fit. 534 00:34:25,040 --> 00:34:27,440 So, I won't be able to collaborate with you. 535 00:34:27,520 --> 00:34:29,680 When I reach 70 years old, 536 00:34:29,760 --> 00:34:33,640 it would be a significant achievement for me if I could 537 00:34:34,000 --> 00:34:36,480 establish a business with the same level of passion as yours. 538 00:34:36,520 --> 00:34:37,800 So, thank you for the inspiration. 539 00:34:38,640 --> 00:34:39,480 Thank you. 540 00:34:39,600 --> 00:34:41,640 Mr. Rahul, I always feel that 541 00:34:41,720 --> 00:34:45,560 every overnight success is at least a 10-year-old story. 542 00:34:45,640 --> 00:34:48,000 In your case, it is a 30-year-old story. 543 00:34:48,080 --> 00:34:51,240 So, congratulations! You are an inspiration to everyone 544 00:34:51,720 --> 00:34:54,000 to keep at it for a long time. 545 00:34:54,120 --> 00:34:55,400 There will be highs and lows. 546 00:34:55,480 --> 00:34:57,360 You built a business, that's impressive. 547 00:34:57,600 --> 00:34:59,400 You stated that within 5 years, your goal 548 00:34:59,520 --> 00:35:01,480 is to achieve sales of Rs. 60-80 cror and sell the company. 549 00:35:01,600 --> 00:35:03,800 The benefit isn't substantial enough for me 550 00:35:03,880 --> 00:35:06,000 to pursue it. 551 00:35:06,920 --> 00:35:08,560 That's why I am out today. 552 00:35:10,440 --> 00:35:12,160 Before you go further, can I say something? 553 00:35:12,200 --> 00:35:12,760 Yes, Sir. 554 00:35:12,800 --> 00:35:15,760 If you are talking about a Rs 2-crore investment, 555 00:35:16,560 --> 00:35:18,720 when you hear the breakup, 556 00:35:18,960 --> 00:35:20,440 then it's more attractive. 557 00:35:21,440 --> 00:35:25,640 I'm not asking you for a cheque worth Rs 2 crores tomorrow morning. 558 00:35:26,920 --> 00:35:29,440 My problem is raw material. 559 00:35:31,200 --> 00:35:32,480 [indistinct] 560 00:35:32,560 --> 00:35:34,240 And I receive the raw material, 561 00:35:34,320 --> 00:35:35,840 when I manufacture the product, 562 00:35:36,200 --> 00:35:37,680 I'll make and send it. 563 00:35:37,760 --> 00:35:41,200 When we send it, if you have good connections with the bank, 564 00:35:41,280 --> 00:35:43,800 the bank will purchase my 565 00:35:43,880 --> 00:35:45,720 shipments because they're going to 566 00:35:46,160 --> 00:35:48,080 very big buyers. 567 00:35:49,600 --> 00:35:52,280 - You can do bill discounting. - Yes. 568 00:36:34,920 --> 00:36:36,600 As far as bill discounting goes, 569 00:36:36,680 --> 00:36:39,200 I have some connections in Europe too, 570 00:36:39,280 --> 00:36:41,120 - where we can connect you to bill discounters. - Perfect. 571 00:36:41,200 --> 00:36:42,920 You will take that from here today. 572 00:36:43,000 --> 00:36:46,360 I feel that the fund that you're raising here, 573 00:36:46,480 --> 00:36:48,440 is on an assumption that we're banks. 574 00:36:48,960 --> 00:36:53,120 You didn't get funds from the bank so you're here treating us like one. 575 00:36:53,240 --> 00:36:56,880 But as Vineeta said, I feel that 576 00:36:56,960 --> 00:36:58,360 even if I give you the money, 577 00:36:58,480 --> 00:36:59,720 I won't enjoy. 578 00:36:59,800 --> 00:37:02,680 I know that your returns will be very solid. 579 00:37:03,480 --> 00:37:05,680 In two years, your company could be sold. 580 00:37:06,000 --> 00:37:08,000 But I won't be able to work with you, Sir. 581 00:37:08,800 --> 00:37:10,640 We won't be able to have a debate. 582 00:37:10,760 --> 00:37:12,640 And that's where I won't enjoy it. 583 00:37:13,520 --> 00:37:15,680 I have a suggestion for you, if you wish to hear it. 584 00:37:15,760 --> 00:37:17,680 Give as many shares as possible to her. 585 00:37:17,760 --> 00:37:21,200 That will give your future investors a confidence that 586 00:37:21,280 --> 00:37:24,600 there's somebody else also apart from only Mr Rahul. 587 00:37:25,920 --> 00:37:28,240 Unfortunately, Sir, I'm out. 588 00:37:29,640 --> 00:37:32,080 Investment relationship is such 589 00:37:32,160 --> 00:37:35,160 that when someone has such a strong personality, 590 00:37:35,440 --> 00:37:37,960 investors like us are not required. 591 00:37:38,280 --> 00:37:40,400 So, I'm unable to understand 592 00:37:40,600 --> 00:37:43,480 how to establish a working relationship with you 593 00:37:43,560 --> 00:37:44,960 to give you inputs. 594 00:37:45,040 --> 00:37:46,320 Although, I'll learn a lot. 595 00:37:47,280 --> 00:37:48,920 So, I'm out. 596 00:37:50,720 --> 00:37:52,080 I'd like to give you an input. 597 00:37:52,160 --> 00:37:54,040 If you're truly getting offers, 598 00:37:55,160 --> 00:37:58,400 it's not necessary for you to sell all of it. 599 00:37:58,640 --> 00:38:00,840 You can foster a relationship with them 600 00:38:01,120 --> 00:38:04,080 where they can take 30 per cent for 2 million. 601 00:38:04,280 --> 00:38:05,120 Right. 602 00:38:05,440 --> 00:38:08,360 Or invest 1 million into the company and pay me 1 million. 603 00:38:08,640 --> 00:38:10,440 And over the next five years, 604 00:38:10,520 --> 00:38:11,920 at certain milestones, 605 00:38:12,000 --> 00:38:16,040 you can sell the remaining equity as a multiple of that revenue. 606 00:38:16,400 --> 00:38:18,240 So, you will get a clarity 607 00:38:18,400 --> 00:38:21,360 as to how much money you will make. 608 00:38:21,440 --> 00:38:24,680 Secondly, you will also get funding for your working capital. 609 00:38:24,760 --> 00:38:26,800 Because all you need is working capital. 610 00:38:26,880 --> 00:38:28,920 - Correct. - And you want it in tranches. 611 00:38:29,000 --> 00:38:31,160 So, it doesn't seem like a long-term problem, Sir. 612 00:38:31,280 --> 00:38:32,560 So think about that. 613 00:38:32,680 --> 00:38:36,440 Thank you very much for coming here and inspiring us today. 614 00:38:36,560 --> 00:38:38,480 - Thank you. - And hopefully we'll meet outside. 615 00:38:38,560 --> 00:38:39,600 Yeah? Thank you. 616 00:38:41,440 --> 00:38:43,800 [music playing] 617 00:38:45,440 --> 00:38:47,080 [water bubbling] 618 00:38:53,080 --> 00:38:55,440 [song playing] 619 00:38:57,040 --> 00:38:58,080 Wow. 620 00:39:00,680 --> 00:39:04,120 It has beautiful and luxurious castles. 621 00:39:04,880 --> 00:39:08,400 The artwork there has a different vibe. 622 00:39:08,960 --> 00:39:11,880 We're from the Pink City of India. 623 00:39:12,000 --> 00:39:14,200 A place you can easily fall in love with. 624 00:39:14,280 --> 00:39:16,520 [song playing] 625 00:39:21,480 --> 00:39:23,200 [song playing] 626 00:39:32,760 --> 00:39:35,800 [song playing] 627 00:39:35,880 --> 00:39:39,360 [song playing] 628 00:39:46,720 --> 00:39:48,160 [song playing] 629 00:39:48,240 --> 00:39:49,400 Jaipur is known for its art, 630 00:39:49,480 --> 00:39:51,680 culture, history, 631 00:39:51,760 --> 00:39:54,400 as well as its textile industries. 632 00:39:54,480 --> 00:39:56,840 Beautiful colours, handcrafted designs, 633 00:39:56,960 --> 00:39:59,680 tie and dye, and especially, Jaipuri block prints. 634 00:39:59,760 --> 00:40:02,000 Gulabo Jaipur is the premium brand 635 00:40:14,720 --> 00:40:16,960 - What else? - [chuckling] 636 00:40:17,240 --> 00:40:19,560 - I'm a little nervous. - It's okay. Take it easy. 637 00:40:19,720 --> 00:40:23,880 Yeah, so honestly, I haven't done any designing course. 638 00:40:23,960 --> 00:40:26,440 But I do all the design work at Gulabo Jaipur. 639 00:40:26,520 --> 00:40:27,240 Beautiful. 640 00:40:27,320 --> 00:40:29,120 Our sales are through our website, 641 00:40:36,920 --> 00:40:41,080 So we want to make Gulabo Jaipur a top leading brand of India. 642 00:40:41,160 --> 00:40:43,560 And we want to take Jaipur's handwork 643 00:40:43,640 --> 00:40:45,400 to the entire world. 644 00:40:52,080 --> 00:40:53,000 - Thank you. - Thank you. 645 00:40:53,080 --> 00:40:55,320 Why did you start this? 646 00:40:55,400 --> 00:40:56,400 And what were you doing earlier? 647 00:41:05,200 --> 00:41:07,400 I've always been very creative since childhood. 648 00:41:07,480 --> 00:41:09,520 At my family weddings, 649 00:41:09,600 --> 00:41:13,160 I used to design mine as well as my family members' clothes. 650 00:41:13,240 --> 00:41:16,280 I started on Instagram in 2015. 651 00:41:20,240 --> 00:41:21,960 - Arranged marriage. - Are you married? 652 00:41:22,040 --> 00:41:23,280 - Yes. - Oh, okay. 653 00:41:26,200 --> 00:41:28,200 But I felt that it's not my forte. 654 00:41:28,280 --> 00:41:30,720 After marriage, I tried helping her 655 00:41:30,800 --> 00:41:33,080 managing DMs, PPs on her phone. 656 00:41:41,920 --> 00:41:42,920 Are you not popular now? 657 00:41:43,000 --> 00:41:43,880 Now, I'm... 658 00:41:43,960 --> 00:41:45,760 - Till the time we got married... - What were you saying? 659 00:41:45,840 --> 00:41:46,880 Hold on. What did you say? 660 00:41:46,960 --> 00:41:49,440 Now the brand is killing it, I feel. 661 00:41:49,560 --> 00:41:51,200 - She's more popular now. - Yeah. 662 00:41:52,640 --> 00:41:54,160 What's your role now? 663 00:41:54,240 --> 00:41:55,760 Her creative aspect is 664 00:41:55,880 --> 00:41:59,440 designing, shoot models, and all that. 665 00:41:59,520 --> 00:42:01,520 My job is to manage production, 666 00:42:01,600 --> 00:42:03,720 procurement, marketing, 667 00:42:03,840 --> 00:42:05,040 sales, dispatching. 668 00:42:05,120 --> 00:42:06,920 - So you manage operations. - Yeah. 669 00:42:07,000 --> 00:42:08,880 Can you show us a few samples? 670 00:42:10,760 --> 00:42:12,000 So nice. 671 00:42:12,960 --> 00:42:14,160 It's called Gota work, right? 672 00:42:14,240 --> 00:42:16,040 This is Dori and sequins. 673 00:42:32,680 --> 00:42:34,600 especially women business leaders 674 00:42:34,680 --> 00:42:36,480 often dress down. 675 00:42:40,400 --> 00:42:42,400 then people won't take them seriously. 676 00:42:42,520 --> 00:42:45,520 But I think what I loved about your clothes is that 677 00:42:45,600 --> 00:42:47,240 there's a bling factor. 678 00:42:47,320 --> 00:42:49,200 All your designs 679 00:42:49,320 --> 00:42:51,120 as a differentiator 680 00:42:51,200 --> 00:42:55,360 this typical Jaipur tradition, handwork. 681 00:42:55,440 --> 00:42:57,080 Do you specialize in this? 682 00:42:57,160 --> 00:42:58,440 I want to know more about that. 683 00:42:58,560 --> 00:43:01,560 Block print is the USP of my brand. Also, 684 00:43:01,640 --> 00:43:03,880 it's our top-seller product. 685 00:43:09,360 --> 00:43:12,400 So, I started a bridal range last year only. 686 00:43:12,520 --> 00:43:15,560 I do festive range around Diwali and Rakhi. 687 00:43:16,520 --> 00:43:18,400 Your name is Gulabo Jaipur, right? 688 00:43:18,480 --> 00:43:21,000 You'll expect it to emphasize on 689 00:43:25,680 --> 00:43:29,120 In fact, this velvet Kaftan is very Kashmiri, right? 690 00:43:29,160 --> 00:43:29,640 - Yeah. - Hmm. 691 00:43:29,680 --> 00:43:31,400 Do you have a specialization or not? 692 00:43:31,480 --> 00:43:33,320 I genuinely make timeless clothes. 693 00:43:33,440 --> 00:43:35,400 You know, I love overdressing. 694 00:43:35,520 --> 00:43:37,200 - That's a woman thing. - [laughing] 695 00:43:37,280 --> 00:43:39,880 And I actually started this business 696 00:43:40,000 --> 00:43:41,880 because I love to dress up so much. 697 00:44:30,920 --> 00:44:33,800 Are your garments primarily Indian wear? 698 00:44:33,880 --> 00:44:34,760 Yes. 699 00:44:34,840 --> 00:44:37,880 Specialized in occasion wear? 700 00:44:37,960 --> 00:44:39,440 Or everyday wear, or both? 701 00:44:39,520 --> 00:44:41,400 So, I started with everyday wear. 702 00:44:41,480 --> 00:44:44,400 But now, I do festive, bridal, 703 00:44:44,480 --> 00:44:46,520 but our topselling is everyday wear. 704 00:45:03,800 --> 00:45:07,560 It's not like we want to maintain this price point. 705 00:45:07,680 --> 00:45:10,920 We've learnt that the price range between Rs 4000 and 7000 706 00:45:11,000 --> 00:45:14,880 is a segment where you don't go down to the masses. 707 00:45:15,080 --> 00:45:17,040 And it's not very niche too. 708 00:45:17,120 --> 00:45:19,600 What's the most expensive product? 709 00:45:19,680 --> 00:45:22,880 The bride lehenga is for Rs. 90,000. 710 00:45:23,120 --> 00:45:24,360 And the red one? 711 00:45:24,440 --> 00:45:26,480 That's for Rs. 52,000. 712 00:45:30,080 --> 00:45:32,800 Do you have artisans or is it some other technique? 713 00:45:32,920 --> 00:45:35,040 We have a setup for block printing. 714 00:45:35,120 --> 00:45:37,400 Saloni makes the designs there. 715 00:46:22,440 --> 00:46:24,280 You'll earn around Rs. 1 crore this year. 716 00:46:24,360 --> 00:46:26,640 Then your EBITDA is around 100 times. 717 00:46:26,720 --> 00:46:27,600 What do you want? 718 00:46:27,680 --> 00:46:29,280 Rs. 90 lakhs isn't going to be of much 719 00:46:29,280 --> 00:46:31,000 help. You're already making so much money. 720 00:46:31,560 --> 00:46:32,880 You've come here for something else. 721 00:46:32,920 --> 00:46:34,960 Obviously, we need the expertise to grow. 722 00:46:35,080 --> 00:46:37,080 Given our planning for the next financial year, 723 00:46:37,160 --> 00:46:40,440 we're definitely going to touch above Rs. 20-25 crores. 724 00:46:46,040 --> 00:46:48,080 Like how to build our inventory. 725 00:46:48,160 --> 00:46:50,120 Right now, we're facing problems 726 00:46:50,240 --> 00:46:53,680 in meeting the requirements for the amount of sales we're doing. 727 00:46:53,760 --> 00:46:55,480 - But with the right guidance... - Yeah. 728 00:46:55,600 --> 00:46:57,760 It won't be just Rs. 25 crores next financial year, 729 00:46:57,840 --> 00:46:59,520 it'll definitely touch Rs. 100 crores. 730 00:46:59,640 --> 00:47:01,320 But it's 11 times the sales. 731 00:47:01,440 --> 00:47:03,920 How did you justify Rs. 90 crores 732 00:47:04,000 --> 00:47:05,680 with an 8-crore exit? 733 00:47:05,840 --> 00:47:07,560 Our sales are organic. 734 00:47:07,640 --> 00:47:10,400 It is very good and the reviews that we receive 735 00:47:10,480 --> 00:47:12,120 they love all of it. 736 00:47:12,240 --> 00:47:14,400 So, we are definitely sure 737 00:47:14,480 --> 00:47:16,280 that we will surely achieve this much. 738 00:47:16,400 --> 00:47:18,080 Just Rs. 20-25 crores. 739 00:47:18,160 --> 00:47:20,720 But there's no prior valuation. This is your first fund raise? 740 00:47:25,280 --> 00:47:28,040 Aditya Birla and Reliance are buying out brands. 741 00:47:32,320 --> 00:47:35,000 brands that have scaled a lot. 742 00:47:35,080 --> 00:47:35,760 How much have they scaled? 743 00:47:35,800 --> 00:47:37,720 Like Ritu Kumar was bought by Reliance. 744 00:47:37,800 --> 00:47:41,160 How much did Reliance pay for Ritu Kumar? They bought it, right? 745 00:47:41,240 --> 00:47:42,760 Yes, 52%. 746 00:47:42,840 --> 00:47:44,440 - At what price? - That I don't know. 747 00:47:44,520 --> 00:47:46,320 2X of sales is what I know. 748 00:47:46,400 --> 00:47:48,640 But you should normally be knowing about the industry. 749 00:47:49,320 --> 00:47:51,000 We know what's going on around us. 750 00:47:51,080 --> 00:47:52,480 What are the multiples being offered in D2C. 751 00:47:52,520 --> 00:47:54,440 Honestly, we were 752 00:47:54,560 --> 00:47:57,920 disconnected for two years because Covid happened then 753 00:47:58,000 --> 00:48:01,640 - my child happened. - I don't want to buy into that. 754 00:48:01,720 --> 00:48:04,800 I agree because you say it but it's not... 755 00:48:05,960 --> 00:48:07,400 Is it fair to say 756 00:48:07,520 --> 00:48:10,400 that 2-3 times sales is normal. 757 00:48:10,520 --> 00:48:14,080 We hadn't invested in marketing so far, 758 00:48:14,200 --> 00:48:16,640 - our customer acquisition... - That's a different story. 759 00:48:16,720 --> 00:48:17,720 We're not asking... 760 00:48:17,760 --> 00:48:20,840 The valuation for fashion in the market is at a max of 2-3 times 761 00:48:21,000 --> 00:48:22,320 at present. 762 00:48:22,480 --> 00:48:25,680 Unfortunately, I'll have to get out. The valuation is very high. 763 00:48:26,240 --> 00:48:28,920 I don't think I can add much value for you. 764 00:48:29,040 --> 00:48:30,640 It's very expensive too. 765 00:48:30,960 --> 00:48:33,400 I was a bit taken aback when I asked that question. 766 00:48:33,480 --> 00:48:36,440 You said you were disconnected for two years. It sounded like an excuse. 767 00:48:36,520 --> 00:48:39,120 But open your eyes now and look around. 768 00:49:07,040 --> 00:49:10,320 - And her designing capabilities. - Yes. 769 00:49:10,400 --> 00:49:13,560 If you get Rs. 90 lakhs from investor at this valuation, 770 00:49:13,640 --> 00:49:15,480 then you'll have to build a company worth 771 00:49:15,480 --> 00:49:17,280 Rs. 500 crores to pay back the investor. 772 00:49:17,360 --> 00:49:20,360 She can't do it by herself or her instinct. 773 00:49:29,280 --> 00:49:31,400 your next highly paid person. 774 00:49:31,480 --> 00:49:33,040 How much do they earn and what's their role? 775 00:49:33,040 --> 00:49:35,880 - Somewhere around Rs. 48,000... - A month? 776 00:49:35,960 --> 00:49:37,000 - A month. - And what's their role? 777 00:49:37,080 --> 00:49:38,680 Their role is operations 778 00:49:38,840 --> 00:49:41,880 as well as the same person manages sales. 779 00:49:41,960 --> 00:49:43,120 Thank you. 780 00:49:43,160 --> 00:49:46,120 Saloni, Salman, I won't be able to join you today. 781 00:49:46,520 --> 00:49:48,800 I see a lot of contradictions 782 00:49:48,880 --> 00:49:52,880 in this business which don't make it investible. 783 00:49:52,960 --> 00:49:55,280 Firstly, the name is Gulabo Jaipur. 784 00:49:55,400 --> 00:49:58,840 The designs that Jaipur is known for, block prints, etc. 785 00:49:58,920 --> 00:50:01,400 - The standard Jaipur vibe. - Yeah. 786 00:50:01,520 --> 00:50:03,080 I don't see it in your clothes. 787 00:50:03,160 --> 00:50:06,080 It's much more elevated and more 788 00:50:06,200 --> 00:50:08,280 towards occasion. 789 00:50:08,360 --> 00:50:11,520 Your name and your starting point 790 00:50:11,600 --> 00:50:13,960 and what you're executing today 791 00:50:14,040 --> 00:50:16,040 don't match at all. 792 00:50:16,680 --> 00:50:18,360 In the long term, we have to think about it. 793 00:50:18,360 --> 00:50:20,480 Because a brand's identity matters. 794 00:50:20,640 --> 00:50:22,560 Secondly, I think that 795 00:50:22,600 --> 00:50:25,320 this is almost a bridge to luxury brands. 796 00:50:25,400 --> 00:50:29,960 Which is possibly an amazing and high multiple business, 797 00:50:30,200 --> 00:50:31,800 but you're selling it online. 798 00:50:31,880 --> 00:50:34,320 Which will also be a difficult contradiction. 799 00:50:34,400 --> 00:50:37,800 I won't be able to join with you because of these reasons today. 800 00:50:37,880 --> 00:50:40,640 But build a profitable business. Best of luck. 801 00:50:40,720 --> 00:50:41,920 Thank you. 802 00:50:42,000 --> 00:50:44,360 Last year, I was in Jaipur. 803 00:50:44,480 --> 00:50:46,640 And I went around all the markets. 804 00:50:46,760 --> 00:50:48,880 As far as I surveyed the markets, 805 00:50:48,960 --> 00:50:51,720 there are a lot of stores and boutiques in Jaipur 806 00:50:51,800 --> 00:50:53,320 with similar designs. 807 00:50:53,800 --> 00:50:56,360 The biggest gap I see in your business 808 00:50:56,440 --> 00:50:59,080 is that there's a lot of competition. 809 00:50:59,160 --> 00:51:02,760 Nothing is showing up as a USP. 810 00:51:02,840 --> 00:51:06,600 Secondly, you're a family business. 811 00:51:06,680 --> 00:51:08,960 Work on your USP. 812 00:51:09,040 --> 00:51:11,680 Move out of this family business mindset 813 00:51:11,760 --> 00:51:15,120 and focus more on people and processes. 814 00:51:15,200 --> 00:51:17,760 Then you'll be ready for investor funding. 815 00:51:17,840 --> 00:51:20,880 You're not ready today and that's why I'm out. 816 00:51:21,000 --> 00:51:22,800 But I wish you the very best. 817 00:51:23,280 --> 00:51:26,320 I think you have a good business. Earning Rs. 1.25 crores a year 818 00:51:26,600 --> 00:51:27,480 is not a joke. 819 00:51:27,600 --> 00:51:29,280 You have managed that, so well done. 820 00:51:29,280 --> 00:51:29,880 Thank you. 821 00:51:29,960 --> 00:51:33,360 But there's a confusion where you're headed from here. 822 00:51:33,560 --> 00:51:36,880 You're still not ready, like your systems aren't ready. 823 00:51:36,960 --> 00:51:41,360 Your most highly paid person is earning Rs. 50,000. 824 00:51:41,520 --> 00:51:44,040 There's no one in the leadership and management team except you. 825 00:51:44,240 --> 00:51:46,840 You haven't been able to prepare yourself yet 826 00:51:46,920 --> 00:51:50,360 to reach the level where you can seek an investment. 827 00:51:50,440 --> 00:51:53,280 Today, your business is around Saloni. 828 00:51:53,440 --> 00:51:54,720 It's not investible from my 829 00:51:54,720 --> 00:51:56,600 perspective, but I wish you all the best. 830 00:51:56,960 --> 00:51:58,360 [music playing] 831 00:51:58,480 --> 00:52:01,400 Firstly, you're an amazing couple. 832 00:52:01,520 --> 00:52:03,680 You're running a family and a business. 833 00:52:03,840 --> 00:52:06,280 That's very good. And best wishes for this. 834 00:52:06,280 --> 00:52:07,080 Thank you. 835 00:52:07,200 --> 00:52:10,200 I have always been intrigued about block print. 836 00:52:11,320 --> 00:52:14,560 I think there's a lot of specialisation required in this. 837 00:52:14,600 --> 00:52:16,080 You want to do a lot of things. 838 00:52:16,200 --> 00:52:19,040 You might find 20-30 per cent of it 839 00:52:19,120 --> 00:52:20,840 as your forte. 840 00:52:20,920 --> 00:52:23,760 You need to get that clarity in your business. 841 00:52:23,840 --> 00:52:26,080 Once you identify that specialization, 842 00:52:26,160 --> 00:52:27,840 then you'll be better prepared 843 00:52:27,960 --> 00:52:29,320 for investibility. 844 00:52:29,400 --> 00:52:31,320 You lack that clarity today 845 00:52:31,400 --> 00:52:33,280 to specifically go into a particular segment. 846 00:52:33,360 --> 00:52:34,600 That's why I'm out today. 847 00:52:35,000 --> 00:52:36,080 Many best wishes. 848 00:52:36,160 --> 00:52:38,000 All right, guys. Make Jaipur proud. 849 00:52:38,080 --> 00:52:38,960 - Thank you. - Thank you so much. 850 00:52:39,040 --> 00:52:42,080 - Thank you. - Thank you so much for this. 851 00:54:37,920 --> 00:54:41,440 We have a good question today from Pankaj, Indore. 852 00:54:57,880 --> 00:55:01,600 Shark Tank has brought a revolution across India. 853 00:55:01,680 --> 00:55:04,000 It has made it common conversation 854 00:55:04,080 --> 00:55:06,200 across households about business and investment, 855 00:55:06,320 --> 00:55:07,800 about entrepreneurship. 856 00:55:08,040 --> 00:55:10,240 So, please, any business operator 857 00:55:10,480 --> 00:55:11,840 should take advantage of it, 858 00:55:11,920 --> 00:55:13,760 instead of feeling troubled by it. 859 00:55:13,840 --> 00:55:15,800 My mother used to be very worried about me 860 00:55:15,880 --> 00:55:18,080 that I didn't go to college and 861 00:55:18,160 --> 00:55:19,880 started a company after school. 862 00:55:20,040 --> 00:55:22,320 She'd always say how will you get married. 863 00:55:22,400 --> 00:55:23,880 What will we write in your profile? 864 00:55:24,360 --> 00:55:27,800 In 2016, when Startup India was first inaugurated, 865 00:55:28,360 --> 00:55:29,840 the honourable Prime Minister said that 866 00:55:29,840 --> 00:55:31,720 often I feel that instead of being a tea-seller, 867 00:55:31,800 --> 00:55:33,920 why didn't I think of a hotel chain? 868 00:55:34,320 --> 00:55:35,320 She saw that. 869 00:55:35,600 --> 00:55:39,640 That switched her mind and made her say that if he's saying 870 00:55:40,000 --> 00:55:42,160 then maybe he understands something that I don't. 871 00:55:42,240 --> 00:55:44,760 Since then she didn't bother me about going to college. 872 00:55:44,880 --> 00:55:48,200 I think that Shark Tank is expanding that horizon more. 873 00:55:48,280 --> 00:55:50,480 We should feel proud about that.