1 00:00:10,000 --> 00:00:11,640 [music playing] 2 00:00:28,880 --> 00:00:30,040 [theme music playing] 3 00:00:46,880 --> 00:00:48,320 [theme music concludes] 4 00:00:48,800 --> 00:00:50,920 - Greetings, my name is Shreya. - Greetings. 5 00:00:51,040 --> 00:00:52,160 I am 27 years old. 6 00:00:57,400 --> 00:01:02,320 Sharks, like lakhs of youngsters, I, too, had made work my life. 7 00:01:02,560 --> 00:01:07,240 I would work over 50 hours a week and be under constant stress. 8 00:01:07,840 --> 00:01:10,800 I finally realised that life could not go on like this. 9 00:01:10,880 --> 00:01:12,800 After all, health is wealth. 10 00:01:12,920 --> 00:01:15,000 So, I finally started doing yoga. 11 00:01:15,360 --> 00:01:19,360 I ordered a few yoga mats online. Let me show them to you. 12 00:01:20,040 --> 00:01:23,720 The first yoga mat I ordered came folded, 13 00:01:24,520 --> 00:01:25,480 and it 14 00:01:26,840 --> 00:01:28,280 refused to unroll! 15 00:01:28,360 --> 00:01:29,720 Oh! I absolutely agree. 16 00:01:29,840 --> 00:01:31,400 Coming to the second yoga mat. 17 00:01:31,560 --> 00:01:34,440 When I was doing the Virabhadrasana, due to the lack of proper grip, 18 00:01:34,520 --> 00:01:36,480 my foot slipped. 19 00:01:36,560 --> 00:01:38,480 - What an actor! - Similarly, as the rest of the mats 20 00:01:38,560 --> 00:01:40,400 lacked proper cushioning, 21 00:01:40,520 --> 00:01:43,200 my elbows and knees began to hurt. 22 00:01:43,520 --> 00:01:47,280 To solve these problems, we present to you WiseLife. 23 00:01:48,720 --> 00:01:50,840 Now, your yoga mat 24 00:02:13,080 --> 00:02:16,280 Our mats not only come in attractive designs 25 00:02:24,480 --> 00:02:27,440 but due to the challenges faced in yoga asanas, 26 00:02:27,560 --> 00:02:29,920 they stop doing yoga in a few days. 27 00:02:30,120 --> 00:02:32,320 And so, we launched yoga props 28 00:02:42,840 --> 00:02:46,120 to take this yoga experience to every Indian household 29 00:02:46,200 --> 00:02:48,960 and inspire people to focus on their health and wellness. 30 00:02:59,920 --> 00:03:01,760 - by choosing WiseLife? - By choosing WiseLife? 31 00:03:02,280 --> 00:03:03,720 [music playing] 32 00:03:05,120 --> 00:03:06,640 I'm glad to see you barefoot. 33 00:03:06,720 --> 00:03:10,760 - You've incorporated yoga into every aspect of your life. - Yes. 34 00:03:10,840 --> 00:03:12,880 Do you do yoga, Ritesh? 35 00:03:13,000 --> 00:03:14,760 A little bit. You see, my wife is a yoga trainer. 36 00:03:14,840 --> 00:03:15,840 - I see. - Oh, really? 37 00:03:15,960 --> 00:03:17,680 - Wow! Fantastic. - Nice. 38 00:03:18,200 --> 00:03:21,240 I do it regularly and it has changed my life. 39 00:03:21,600 --> 00:03:23,760 How did you get into yoga at such a young age? 40 00:03:23,840 --> 00:03:25,840 We both used to work for PWC. 41 00:03:25,920 --> 00:03:28,040 We were doing our CA Articleship there. 42 00:03:28,200 --> 00:03:30,120 I'm sure you know, sir, and you do too, ma'am, 43 00:03:30,280 --> 00:03:32,520 that the Articleship period is extremely hectic. 44 00:03:32,600 --> 00:03:35,120 There was a fixed time to go to the office 45 00:03:35,240 --> 00:03:37,520 - but no fixed time to leave. - Yes. 46 00:03:37,680 --> 00:03:41,440 Our health and wellness took a hit at the time. 47 00:03:42,120 --> 00:03:45,640 We decided to join a yoga class together. 48 00:03:45,760 --> 00:03:47,800 Doing yoga made us feel really better. 49 00:03:47,840 --> 00:03:50,200 Even if we entered the yoga class at 9 pm 50 00:03:50,360 --> 00:03:53,720 and left at 10 pm after doing yoga, we'd feel absolutely rejuvenated. 51 00:03:53,800 --> 00:03:56,720 - So, you met at PWC. - Yes. 52 00:03:56,840 --> 00:03:57,680 We're married now. 53 00:03:57,760 --> 00:03:59,440 - Oh! Congratulations. - Oh, okay! 54 00:03:59,560 --> 00:04:00,840 - Thank you so much. - Thank you. 55 00:04:01,320 --> 00:04:04,240 - There's a Canadian brand... - Lululemon. 56 00:04:04,440 --> 00:04:05,920 - Lululemon. - Lululemon. 57 00:04:06,080 --> 00:04:09,880 They made activewear and yoga wear super cool. 58 00:04:10,320 --> 00:04:12,600 This was the go-to brand, right? 59 00:04:13,080 --> 00:04:15,400 Is your brand somewhat positioned along those lines, 60 00:04:15,480 --> 00:04:16,880 because I'm getting that feeling? 61 00:04:17,840 --> 00:04:20,800 - We are inspired by Lululemon for sure... - Okay. 62 00:04:20,880 --> 00:04:23,400 This brand is completely Indian. 63 00:04:23,480 --> 00:04:25,280 So, we need to address the Indian market. 64 00:04:25,400 --> 00:04:27,800 So, you haven't launched apparel until now. 65 00:04:27,880 --> 00:04:29,200 - Not yet. - No, we haven't. 66 00:04:29,320 --> 00:04:32,000 I think what Anupam said is important. 67 00:04:32,080 --> 00:04:33,040 It's a great idea. 68 00:04:33,120 --> 00:04:35,440 I tell you, I struggle 69 00:04:35,560 --> 00:04:37,240 with the right material 70 00:04:37,360 --> 00:04:40,200 - and the right comfort of yoga pants especially. - Hmm. 71 00:04:40,280 --> 00:04:42,760 When we need to scale the revenue after a certain point, 72 00:04:42,840 --> 00:04:45,200 - we definitely need to get into apparel. - Okay. 73 00:04:45,280 --> 00:04:47,440 - Very good. - If we launch apparel right now, 74 00:04:47,560 --> 00:04:48,880 fashion is a very... 75 00:04:48,960 --> 00:04:51,200 - Absolutely right. - Very tricky industry. 76 00:04:51,280 --> 00:04:52,920 So, we don't want to launch without planning. 77 00:04:52,960 --> 00:04:54,800 We want to position our brand first. 78 00:04:54,920 --> 00:04:56,600 After that, step by step, 79 00:04:56,760 --> 00:05:00,120 we will launch it after we've made our USP. 80 00:05:00,200 --> 00:05:01,240 I really liked that. 81 00:05:01,320 --> 00:05:04,160 Your Surya Namaskar mat shows all the steps. 82 00:05:04,280 --> 00:05:08,200 In case anyone forgets the steps, they can refer to this. 83 00:05:20,640 --> 00:05:22,880 This is a 100% sustainable mat. 84 00:05:22,920 --> 00:05:24,080 - It's cork. - This is made of cork 85 00:05:24,160 --> 00:05:25,480 and natural rubber on the bottom. 86 00:05:25,560 --> 00:05:27,560 - Very nice. - What about the design? 87 00:05:27,680 --> 00:05:29,960 - What's the significance? - These are alignment lines, sir. 88 00:05:30,040 --> 00:05:32,120 They are markers for your hands and feet. 89 00:05:32,200 --> 00:05:34,280 - How to position your hands for different asanas. - Yes, got it. 90 00:05:34,360 --> 00:05:36,960 No one else in India was doing this apart from us. 91 00:05:37,040 --> 00:05:39,800 Copycats have emerged, but all they can do is copy. 92 00:05:39,880 --> 00:05:42,240 - Yes. All they can do is copy! - We're way ahead. 93 00:05:43,520 --> 00:05:44,840 This material is microfibre. 94 00:05:44,960 --> 00:05:47,200 - This is called suede but it isn't that suede. - Polyester. 95 00:05:47,280 --> 00:05:49,400 Yes, it's microfibre and it's very soft. 96 00:05:49,480 --> 00:05:50,360 It's very soft. 97 00:05:50,480 --> 00:05:51,440 Oh! I like this. 98 00:05:51,520 --> 00:05:53,240 This is an acupressure mat. 99 00:05:53,360 --> 00:05:56,240 - So... This is for your elbow, right - Elbow. 100 00:05:56,360 --> 00:05:57,720 To prevent injury, 101 00:05:57,840 --> 00:06:00,080 these are placed below the knees and elbows. 102 00:06:01,080 --> 00:06:03,520 We have the entire yoga range. 103 00:06:03,640 --> 00:06:06,280 No matter what product you need for yoga, 104 00:06:06,400 --> 00:06:07,600 it is available with us. 105 00:06:07,640 --> 00:06:11,240 I believe your product experience truly is world-class. 106 00:06:11,320 --> 00:06:13,680 Your yoga-driven designs 107 00:06:13,800 --> 00:06:16,280 - are a unique competency. - Yes. 108 00:06:16,560 --> 00:06:17,440 - Yes. - Yes. 109 00:06:17,640 --> 00:06:20,560 The designs are nice and everyone liked your products. 110 00:06:20,680 --> 00:06:22,280 It's a commodity market finally. 111 00:06:22,360 --> 00:06:25,400 There's rubber and cork and many people can copy you. 112 00:06:25,520 --> 00:06:29,200 What's your differentiator? What's the plan and vision here? 113 00:06:29,360 --> 00:06:33,600 Our USP is that the entire printing process is in-house. 114 00:06:33,840 --> 00:06:35,000 The designing is in-house 115 00:06:43,440 --> 00:06:44,320 Apart from that, 116 00:06:44,440 --> 00:06:45,720 we put thought into our prints 117 00:06:45,800 --> 00:06:47,600 and launch them only after conducting surveys. 118 00:06:47,680 --> 00:06:48,720 Where is that coming from? 119 00:06:55,240 --> 00:06:56,960 I look after product design. 120 00:06:57,040 --> 00:06:59,040 We also have a team and I guide them. 121 00:06:59,120 --> 00:07:02,000 If we find a product to be attractive and aesthetic 122 00:07:02,120 --> 00:07:04,680 and have the urge to use it, 123 00:07:04,760 --> 00:07:06,120 then we work on the functionality. 124 00:07:06,200 --> 00:07:07,720 - Heavy, light or medium. - Okay. 125 00:07:07,840 --> 00:07:11,120 We first rectify the problems that we face. 126 00:07:11,200 --> 00:07:14,680 We then talk to yogis and fitness enthusiasts 127 00:07:14,800 --> 00:07:18,680 and take their feedback with regard to further improvements. 128 00:07:18,760 --> 00:07:21,800 They tell us the problems that they faced during the use. 129 00:07:21,920 --> 00:07:24,160 - So, you have a process for consumer insights. - Yes. 130 00:07:24,240 --> 00:07:26,600 We've conducted over 100 surveys as of now. 131 00:07:31,440 --> 00:07:34,480 So, quickly tell me about the equity holdings, 132 00:07:34,560 --> 00:07:36,440 your sales and profitability. 133 00:07:36,560 --> 00:07:38,280 Tell us your respective roles as well. 134 00:07:38,360 --> 00:07:43,000 I oversee operations, finances and sales. 135 00:07:43,080 --> 00:07:46,440 I oversee design and marketing. 136 00:07:46,520 --> 00:07:48,600 We oversee overall strategy together. 137 00:08:22,120 --> 00:08:23,360 Give us your sales figures. 138 00:08:54,200 --> 00:08:56,320 Are your projected sales Rs. 10 crores this year? 139 00:09:03,720 --> 00:09:06,080 People start the moment they take the New Year's resolution! 140 00:09:06,200 --> 00:09:07,040 Yes. 141 00:09:07,160 --> 00:09:09,360 Give us a break-up of your unit economics also. 142 00:09:37,080 --> 00:09:38,160 On Amazon? 143 00:09:38,280 --> 00:09:40,280 - On Amazon and Meta. - Amazon. 144 00:09:40,360 --> 00:09:42,880 So, your marketing spend on Amazon is 26%. 145 00:09:43,000 --> 00:09:45,760 With that kind of spend, your impression share must be good. 146 00:09:45,840 --> 00:09:47,560 - It is. - What is it? 147 00:09:55,000 --> 00:09:58,160 'When the ad of your company is played once, ' 148 00:09:58,400 --> 00:10:00,480 'it is called an impression.' 149 00:10:26,760 --> 00:10:28,240 Rs. 200 to 500. 150 00:10:28,320 --> 00:10:29,960 There are mats that cost Rs. 2,000 also. 151 00:10:30,040 --> 00:10:33,440 So, we're premium-priced as compared to PVC mats. 152 00:10:33,520 --> 00:10:35,800 Are you also selling on your website or just here? 153 00:11:07,680 --> 00:11:09,520 They test it and if they like it, 154 00:11:09,640 --> 00:11:12,080 they keep the mats and sell it to their students. 155 00:11:13,000 --> 00:11:14,560 Namita and I will make an offer to you. 156 00:11:17,720 --> 00:11:21,480 - So, your valuation will be fair, I'm presuming. - Oh, my! 157 00:11:21,600 --> 00:11:23,120 I had started to like you guys. 158 00:11:23,200 --> 00:11:24,360 [Sharks laugh] 159 00:11:24,480 --> 00:11:25,920 But suddenly... [chuckles] 160 00:11:26,960 --> 00:11:28,840 So, we would like to give you an offer. 161 00:11:29,680 --> 00:11:31,840 Rs. 60 lakhs for 3% equity 162 00:11:31,960 --> 00:11:35,600 but we would also like royalty at 2% of sales 163 00:11:43,200 --> 00:11:44,520 You have built a good product. 164 00:11:44,880 --> 00:11:46,680 What do you want to make this into? 165 00:11:46,760 --> 00:11:48,560 Our vision is grand. 166 00:11:55,800 --> 00:11:57,440 We will need to launch new SKUs. 167 00:12:20,960 --> 00:12:22,400 Are you just looking for 168 00:12:22,560 --> 00:12:25,640 a platform like Shark Tank to get the WiseLife brand out 169 00:12:25,720 --> 00:12:28,960 or do you really want to raise funds and take this to the next level? 170 00:12:29,040 --> 00:12:29,840 What's your plan? 171 00:12:29,960 --> 00:12:33,360 - First of all, any amount of marketing is not enough. - Right. 172 00:12:33,480 --> 00:12:35,960 Our product will go wherever we get marketing. 173 00:12:36,040 --> 00:12:36,880 Absolutely. 174 00:12:36,920 --> 00:12:37,960 - Embrace it, own it. - Secondly. 175 00:12:38,040 --> 00:12:39,720 We're completely self-taught. 176 00:12:39,840 --> 00:12:42,880 - We don't have a mentor who could guide us. - Right. 177 00:12:43,000 --> 00:12:44,880 So, we expect you and your team 178 00:12:44,960 --> 00:12:48,800 to share your mantra or secret sauce with us. 179 00:12:49,520 --> 00:12:51,640 We had internally set a benchmark for ourselves. 180 00:12:51,760 --> 00:12:54,560 Until we didn't cross a revenue of Rs. 1 crore a month, 181 00:12:54,720 --> 00:12:57,680 we would not involve external parties. 182 00:12:57,800 --> 00:13:00,440 - Unless we're not sure about our business... - Very good. 183 00:13:00,560 --> 00:13:04,400 - Why should we raise capital and complicate matters? - Hmm. 184 00:13:04,480 --> 00:13:07,720 Last month, our gross revenue was Rs. 1 crore. 185 00:13:08,120 --> 00:13:09,400 This is the first time 186 00:13:09,480 --> 00:13:12,960 we're having a formal discussion with an investor to raise funds. 187 00:13:13,920 --> 00:13:15,480 - Let me give you an offer. - Okay. 188 00:13:15,640 --> 00:13:17,800 I don't think you should consider royalty. 189 00:13:17,880 --> 00:13:21,080 Royalty is fine when your business is profitable. 190 00:13:21,160 --> 00:13:22,880 You're not profitable, you're breaking. 191 00:13:23,880 --> 00:13:26,920 I think taking a slightly higher capital wouldn't hurt. 192 00:13:27,000 --> 00:13:29,320 - Fuel in the tank is always helpful. - True. 193 00:13:29,440 --> 00:13:32,080 I offer you Rs. 90 lakhs. 194 00:13:34,240 --> 00:13:36,800 And I'll take 4% equity. 195 00:13:36,920 --> 00:13:38,760 - Thank you so much for the offer. - Thank you. 196 00:13:39,400 --> 00:13:41,040 We're revising our offer. 197 00:13:41,160 --> 00:13:42,520 We'll skip the royalty. 198 00:13:42,640 --> 00:13:45,240 We'll give you Rs. 60 lakhs, for what you asked for, 199 00:14:07,800 --> 00:14:08,600 Okay. 200 00:14:08,720 --> 00:14:11,720 They're all easy touch points 201 00:14:12,120 --> 00:14:14,320 to test your yoga mats 202 00:14:14,360 --> 00:14:16,360 and let people at least try them. 203 00:14:17,840 --> 00:14:19,480 You've got two offers. 204 00:14:19,600 --> 00:14:20,960 I'm comfortable with both of them. 205 00:14:21,040 --> 00:14:22,840 My initial offer to you is 206 00:14:37,280 --> 00:14:39,800 - You said the market size of mats is Rs. 2,500 to 3,000 crores. - Yes. 207 00:14:39,920 --> 00:14:41,760 How many crores is Amazon's market share 208 00:14:41,880 --> 00:14:43,000 and what's your market share in that? 209 00:14:43,080 --> 00:14:45,760 The total online market of yoga mats 210 00:14:45,840 --> 00:14:48,200 is around 20% of the total volume. 211 00:14:53,360 --> 00:14:54,640 What's the reason for that? 212 00:14:54,720 --> 00:14:59,360 When you log in to Amazon or look for yoga mats online, 213 00:14:59,440 --> 00:15:01,800 - the first yoga mat in the search results is for Rs. 300. - Hmm. 214 00:15:01,880 --> 00:15:03,160 - So, they order that. - Pricing. 215 00:15:03,280 --> 00:15:04,280 - That's what I was asking. - Yes. 216 00:15:04,360 --> 00:15:06,800 - Correct. - So, we're category creators. 217 00:15:06,960 --> 00:15:10,680 We have to really explain to people why they should buy a high-end mat 218 00:15:10,720 --> 00:15:13,440 and not buy those toxic PVC mats that emit fumes 219 00:15:13,520 --> 00:15:15,000 and are not fit for yoga at all. 220 00:15:15,200 --> 00:15:18,080 Look. I find you really sharp as a founder. 221 00:15:19,000 --> 00:15:21,000 I consider mats as a commodity, 222 00:15:21,040 --> 00:15:23,560 but a category can definitely be created, right? 223 00:15:23,760 --> 00:15:25,880 That will require a different approach. 224 00:15:26,400 --> 00:15:27,680 [sombre music playing] 225 00:15:28,360 --> 00:15:29,680 You need to utilise technology 226 00:15:39,400 --> 00:15:42,480 Would you be open to expanding your vision using technology? 227 00:15:42,800 --> 00:15:43,840 Definitely. 228 00:15:45,360 --> 00:15:46,840 Okay, I'll make you an offer then. 229 00:15:47,080 --> 00:15:48,800 Technology is being added for no reason. 230 00:15:48,960 --> 00:15:50,480 - Technology isn't needed. - [mumbles] 231 00:15:50,520 --> 00:15:52,560 Those who don't understand technology say such things. 232 00:15:52,640 --> 00:15:53,680 [laughs] 233 00:15:54,560 --> 00:15:56,360 I have a good tech brand, bro. 234 00:15:56,440 --> 00:15:57,480 We wonder how. 235 00:15:58,360 --> 00:15:59,920 Push the brakes on your boAt! 236 00:16:00,000 --> 00:16:01,120 [Sharks laugh] 237 00:16:08,480 --> 00:16:10,080 I'll need my money back in royalty. 238 00:16:10,240 --> 00:16:13,080 I'll take a 2% royalty when you're making a 5% profit. 239 00:16:21,160 --> 00:16:22,640 - No! One minute! Hello. - Sure. 240 00:16:22,760 --> 00:16:23,760 We have a new offer. 241 00:16:23,840 --> 00:16:27,040 Four Sharks are collaborating on the offer. 242 00:16:27,400 --> 00:16:29,240 Each of us wants 1%. 243 00:16:40,720 --> 00:16:42,080 You will be diluting more. 244 00:16:42,200 --> 00:16:43,440 Take your time to decide. 245 00:16:43,560 --> 00:16:44,640 [pensive music playing] 246 00:16:50,840 --> 00:16:51,960 Yes! 247 00:16:53,240 --> 00:16:54,160 [music playing] 248 00:16:56,440 --> 00:16:57,600 Welcome back, guys. 249 00:16:57,680 --> 00:17:00,360 Please make a wise decision. 250 00:17:03,800 --> 00:17:04,840 We want, 251 00:17:04,960 --> 00:17:06,960 that since yoga is a union, 252 00:17:07,040 --> 00:17:08,600 - could we... - Oh! 253 00:17:08,720 --> 00:17:10,800 - A Five Shark deal. - Can the Sharks unite because... 254 00:17:10,960 --> 00:17:11,840 No! I'm out... 255 00:17:12,880 --> 00:17:13,720 If that is the deal. 256 00:17:13,800 --> 00:17:15,200 What would we do without you, sir? 257 00:17:15,640 --> 00:17:17,920 - We genuinely want you on board... - I want to come. 258 00:17:18,640 --> 00:17:20,360 Are you in for four of us? 259 00:17:21,840 --> 00:17:22,960 I'll keep my solo offer. 260 00:17:23,040 --> 00:17:24,920 I think you will choose the right value creator. 261 00:17:25,040 --> 00:17:27,440 One Shark focusing on your business will be a big value-add. 262 00:17:29,480 --> 00:17:31,880 You need to choose between four versus one. 263 00:17:32,400 --> 00:17:33,840 [intense music playing] 264 00:17:37,360 --> 00:17:39,800 - Aman! Anupam! Namita! Ritesh! - Ritesh! 265 00:17:48,720 --> 00:17:50,360 - Four CA's together. - Yes. 266 00:17:51,360 --> 00:17:52,840 [joyous music playing] 267 00:17:54,760 --> 00:17:55,760 [camera shutter clicking] 268 00:17:56,760 --> 00:17:57,560 All the best, Shreya. 269 00:17:57,640 --> 00:17:59,120 - Thank you, sir. - Thank you so much. 270 00:18:00,120 --> 00:18:01,560 [joyous music playing] 271 00:18:06,120 --> 00:18:07,120 [music fades] 272 00:19:05,480 --> 00:19:08,000 [music playing] 273 00:19:25,840 --> 00:19:28,440 Sharks, due to cervical cancer 274 00:19:41,200 --> 00:19:44,080 As you see, this cancer 275 00:19:44,200 --> 00:19:47,680 affects the cervix, that is the mouth of the uterus. 276 00:19:47,920 --> 00:19:49,480 And it's caused due to a virus. 277 00:19:56,440 --> 00:19:58,880 Mostly men are the carriers of it. 278 00:19:58,960 --> 00:20:02,960 But since it's transmitted sexually, it's not discussed openly. 279 00:20:03,720 --> 00:20:07,200 Shockingly, cervical cancer is preventable 280 00:20:07,280 --> 00:20:09,960 yet only 2 per cent of women in India 281 00:20:10,080 --> 00:20:12,680 get a preventive screening test done. 282 00:20:29,720 --> 00:20:31,320 is a bit invasive. 283 00:20:38,040 --> 00:20:41,160 conduct mass training camps for free. 284 00:20:41,440 --> 00:20:44,960 Women hesitate to visit those places too. 285 00:20:45,040 --> 00:20:48,320 Because they have to stand in the queue all day. 286 00:20:48,400 --> 00:20:49,440 Awaiting their turn. 287 00:20:49,520 --> 00:20:51,840 So, we've brought an innovation 288 00:20:51,920 --> 00:20:54,360 that can make the sampling process 289 00:20:54,440 --> 00:20:58,080 extremely simple and easy. 290 00:20:58,160 --> 00:20:59,480 And that's Cervicheck. 291 00:21:06,880 --> 00:21:09,200 - We belong to Baroda, Gujarat. - Hmm. 292 00:21:18,040 --> 00:21:20,800 Cervicheck is the first made-in-India kit 293 00:21:33,240 --> 00:21:34,920 a point-of-care screening test 294 00:21:41,360 --> 00:21:44,600 must refrain from cervical screening for any reason. 295 00:22:04,400 --> 00:22:08,160 I've had an experience of 5 years 296 00:22:08,240 --> 00:22:10,240 in the biopharma industry. 297 00:22:10,320 --> 00:22:14,720 I'm a PhD in biochemistry, post that I joined Cervicheck. 298 00:22:14,960 --> 00:22:17,840 I represent Pragmatech as the MD and Co-founder. 299 00:22:17,920 --> 00:22:20,800 I've spent the last ten years in diagnostics. 300 00:22:20,880 --> 00:22:22,280 Majorly with Roche Diagnostics. 301 00:22:22,360 --> 00:22:24,240 In October 2019, 302 00:22:24,320 --> 00:22:28,240 I left my job at Roche and started Pragmatech. 303 00:22:28,320 --> 00:22:30,680 Are you colleagues or related? 304 00:22:30,800 --> 00:22:31,560 Husband and wife. 305 00:22:31,640 --> 00:22:32,760 - We're husband and wife. - Oh, lovely. 306 00:22:33,120 --> 00:22:35,840 Apart from this, we have two more co-founders. 307 00:22:35,920 --> 00:22:37,320 One is Palna Patel. 308 00:22:37,400 --> 00:22:39,960 She's an NGO worker and has a degree in law. 309 00:22:40,040 --> 00:22:42,240 Then we have an elderly gynaecologist. 310 00:22:42,240 --> 00:22:43,480 He's more than 70 years old. 311 00:22:43,480 --> 00:22:45,960 - What's his name? - Dr Bhagirath Modi. 312 00:22:46,280 --> 00:22:47,920 Please give us a demo of your product. 313 00:22:47,920 --> 00:22:48,520 Sure. 314 00:22:48,520 --> 00:22:50,200 I'll give you the kits individually. 315 00:22:50,200 --> 00:22:51,240 - Yeah. - Then we can start the demo. 316 00:22:51,760 --> 00:22:53,720 [music playing] 317 00:22:54,440 --> 00:22:57,080 [music playing] 318 00:23:00,600 --> 00:23:01,840 Thank you. 319 00:23:01,920 --> 00:23:04,960 - It's very clean, nice packaging. - Very nice packaging. 320 00:23:05,080 --> 00:23:07,920 In fact, the name of your company, Pragmatech. 321 00:23:08,000 --> 00:23:10,040 I think it's a great play on words. I love it. 322 00:23:10,120 --> 00:23:11,200 Thank you so much. 323 00:23:12,040 --> 00:23:14,360 Before I give you a demo, 324 00:23:14,440 --> 00:23:18,040 I'd like to explain you a little bit about the human anatomy. 325 00:23:18,600 --> 00:23:21,720 This image here is of a uterus. 326 00:23:23,000 --> 00:23:25,920 The circle that you see at the mouth of the uterus 327 00:23:26,040 --> 00:23:28,960 is the cervix. We've blown it up here. 328 00:23:29,040 --> 00:23:32,280 The yellow spots are cancerous tissue. 329 00:23:48,320 --> 00:23:51,000 A brush is put inside 330 00:23:51,080 --> 00:23:54,000 and then they collect samples. 331 00:23:54,080 --> 00:23:56,640 So, as you see, this process 332 00:23:56,760 --> 00:23:58,800 is very embarrassing for women. 333 00:23:58,880 --> 00:24:01,760 - Sure. - Many women find it painful. 334 00:24:01,840 --> 00:24:04,280 So now we will move to our product. 335 00:24:34,560 --> 00:24:38,040 and we will hold the base of the brush using the tweezer 336 00:24:38,120 --> 00:24:40,160 and press it. 337 00:24:40,640 --> 00:24:44,200 After pulling out the brush, 338 00:24:44,560 --> 00:24:45,760 we will drop this inside. 339 00:24:45,840 --> 00:24:48,240 And we have to put it back in the kit. 340 00:24:48,800 --> 00:24:51,800 The used speculum 341 00:24:52,200 --> 00:24:56,480 needs to be put into the bio-hazard waste disposable bag 342 00:24:57,560 --> 00:25:00,360 and put it back into the kit. 343 00:25:26,600 --> 00:25:29,040 Many of them are high-risk. 344 00:25:29,120 --> 00:25:32,560 About 17 to 18 types are high-risk. 345 00:25:32,640 --> 00:25:35,960 The vaccines cover either four sub-types 346 00:25:36,120 --> 00:25:39,720 or maximum nine sub-types, and protect you against it. 347 00:25:39,800 --> 00:25:41,640 The other high-risk viruses 348 00:25:41,720 --> 00:25:43,800 there's no protection for it yet. 349 00:25:50,520 --> 00:25:52,360 And when do you recommend testing? 350 00:26:00,440 --> 00:26:02,400 80 per cent of women 351 00:26:02,480 --> 00:26:05,560 or men will somehow have some encounter with HPV. 352 00:26:05,640 --> 00:26:07,840 - 80 per cent? - Yes, 80 per cent. 353 00:26:07,960 --> 00:26:11,200 But they will never realize it because the virus won't manifest. 354 00:26:11,320 --> 00:26:12,600 - Okay, the virus won't manifest. - Yes. 355 00:26:12,680 --> 00:26:14,480 - It will be an encounter. - Yes, an encounter. 356 00:26:15,400 --> 00:26:17,680 If a woman's immunity is low 357 00:26:17,760 --> 00:26:20,080 then this virus will manifest 358 00:26:20,160 --> 00:26:21,680 - and lead to cervical-- - What will happen to men? 359 00:26:21,880 --> 00:26:24,600 - If we talk of penile cancer, - Yes. 360 00:26:24,680 --> 00:26:25,880 it's very rare. 361 00:26:25,960 --> 00:26:27,360 But it can be caused by the same virus. 362 00:26:27,360 --> 00:26:28,120 Yes. 363 00:26:28,200 --> 00:26:29,480 Wow. Okay. 364 00:26:29,760 --> 00:26:31,720 So, normally, 365 00:26:49,960 --> 00:26:52,040 - So, you have 95% accuracy. - Yeah. 366 00:26:52,120 --> 00:26:52,760 Got it. 367 00:26:52,840 --> 00:26:54,640 So, how will you take this to the market? 368 00:26:54,720 --> 00:26:56,240 Our immediate plan 369 00:26:56,320 --> 00:26:58,360 is a very simple direct sales model. 370 00:26:58,520 --> 00:27:00,560 We've already spoken about it 371 00:27:33,840 --> 00:27:36,000 A test worth Rs 3200. 372 00:27:36,080 --> 00:27:38,560 It's impossible that 20 crore women will use it. 373 00:27:40,600 --> 00:27:42,720 Look, those who pay Rs 3000, 374 00:27:42,800 --> 00:27:44,560 that main population is urban. 375 00:27:44,640 --> 00:27:47,000 - It's a small population. - Yes. 376 00:27:47,120 --> 00:27:48,480 And that's exactly the point. 377 00:27:48,600 --> 00:27:50,880 While we're also developing a screening test, 378 00:27:51,000 --> 00:27:53,080 which will be worth Rs 450 379 00:27:59,360 --> 00:28:02,440 And this is also a big barrier of entry for us. 380 00:28:02,520 --> 00:28:04,520 But has it been developed or is it in development? 381 00:28:04,600 --> 00:28:06,480 It's in the R&D stage. 382 00:28:06,880 --> 00:28:09,240 Within two years, we'll be able to reach the market. 383 00:28:09,320 --> 00:28:10,440 Two years from now. 384 00:28:16,360 --> 00:28:19,880 then definitely these two years can be reduced. 385 00:28:20,280 --> 00:28:23,600 It took you 4 years to make this. 386 00:28:24,320 --> 00:28:26,720 - It's not a big innovation. - Absolutely not. 387 00:28:26,840 --> 00:28:28,400 That is a very interesting question. 388 00:28:28,480 --> 00:28:31,360 Because when I quit my job, I felt that within two years, 389 00:28:31,560 --> 00:28:34,240 this company will start giving me revenue. 390 00:28:34,440 --> 00:28:36,960 But initially, 391 00:28:37,040 --> 00:28:39,800 we have to pass the regulatory, 392 00:28:39,880 --> 00:28:42,480 and before we test it on a human, 393 00:28:42,560 --> 00:28:45,440 we have to show them data of how we developed it. 394 00:28:45,560 --> 00:28:48,160 The innovation didn't take time, the trials did. 395 00:28:48,280 --> 00:28:49,160 Yes, approvals. 396 00:28:49,240 --> 00:28:51,640 So, for four years, how did you 397 00:28:51,720 --> 00:28:53,160 pay the salaries? 398 00:28:53,240 --> 00:28:54,640 Have you raised an investment? 399 00:28:54,720 --> 00:28:57,000 - How did it work? - Thankfully, we got funding 400 00:28:57,000 --> 00:28:59,440 from our incubator, Venture Center in Pune. 401 00:28:59,880 --> 00:29:01,560 We got an investment of Rs 30 lakhs from there. 402 00:29:34,640 --> 00:29:36,640 This sampling kit. 403 00:29:38,200 --> 00:29:41,320 Have you thought about how you will make revenue? 404 00:29:41,400 --> 00:29:42,000 What are the margins? 405 00:29:42,080 --> 00:29:44,800 As of now, we have made a direct sales model 406 00:29:44,880 --> 00:29:46,440 where the selling price is Rs 250. 407 00:29:53,880 --> 00:29:56,320 - Who wants to give you an order? - Hospitals and labs. 408 00:29:56,400 --> 00:29:58,240 They will also charge a commission. 409 00:29:58,320 --> 00:30:01,040 They earn a commission on HPV testing already. 410 00:30:01,160 --> 00:30:03,280 The one that they're selling for Rs 2500-3000. 411 00:30:03,360 --> 00:30:04,960 So let's assume, this will happen. 412 00:30:05,040 --> 00:30:06,720 - Okay. - Any idea 413 00:30:06,800 --> 00:30:08,560 how much can the business grow up to be? 414 00:30:08,640 --> 00:30:10,200 We've estimated that in the first year, 415 00:30:20,840 --> 00:30:24,200 - I don't understand... - That's 40,000 of one model. 416 00:30:24,320 --> 00:30:26,600 The second model as I mentioned, 417 00:30:40,720 --> 00:30:42,600 [music playing] 418 00:30:43,280 --> 00:30:45,600 I like your innovative minds. 419 00:30:45,680 --> 00:30:46,920 This can have a large impact. 420 00:30:47,040 --> 00:30:50,040 I can't accept this valuation for this use case. 421 00:30:50,640 --> 00:30:53,160 And no clarity on how much revenue. 422 00:30:53,240 --> 00:30:55,360 You're talking about Rs 1 crore revenue after a year. 423 00:31:02,040 --> 00:31:03,320 It's a good cause. 424 00:31:03,560 --> 00:31:07,440 But you said that people are already not testing. 425 00:31:07,680 --> 00:31:08,960 They're not even taking vaccines. 426 00:31:09,040 --> 00:31:10,920 Then comes preventive check. 427 00:31:11,040 --> 00:31:12,840 That's at the last. 428 00:31:13,120 --> 00:31:16,200 I don't know if it will be a hit or a miss for now. 429 00:31:16,280 --> 00:31:16,880 Correct. 430 00:31:16,880 --> 00:31:18,880 So, I'm out for now. 431 00:31:18,960 --> 00:31:21,320 - But I wish you all the best. - Okay. 432 00:31:21,520 --> 00:31:24,080 Sir, your true disruption game is not this testing kit. 433 00:31:24,200 --> 00:31:25,400 I don't think this will make much of a difference. 434 00:31:25,480 --> 00:31:29,320 Your true disruption game is screening and testing, right? 435 00:31:29,400 --> 00:31:31,720 One thing you're missing is capital. 436 00:31:31,800 --> 00:31:33,720 If you want to do true disruption. 437 00:31:33,840 --> 00:31:35,480 To make this test affordable. 438 00:31:35,560 --> 00:31:36,880 You'll need several million dollars. 439 00:31:36,960 --> 00:31:39,280 And a category creation. 440 00:31:47,960 --> 00:31:49,960 Have you ever thought 441 00:31:50,040 --> 00:31:52,720 of having a business co-founder or someone like that 442 00:31:52,800 --> 00:31:54,800 while making these plans. 443 00:31:54,880 --> 00:31:57,440 Your numbers... The way you're visualizing the future, 444 00:31:57,520 --> 00:31:59,160 the vision is not clear, it's hazy. 445 00:31:59,240 --> 00:32:00,840 Definitely, we need this. 446 00:32:00,920 --> 00:32:02,560 For someone to give us business mentorship. 447 00:32:02,640 --> 00:32:06,120 For that reason, too, we're actively raising funds. 448 00:32:06,240 --> 00:32:07,560 [vocalizing] 449 00:32:08,320 --> 00:32:09,400 Offer. 450 00:32:10,080 --> 00:32:11,760 You seem to be very resilient. 451 00:32:11,840 --> 00:32:14,480 I really appreciate that. 452 00:32:14,880 --> 00:32:16,520 So, I want to take this bet. 453 00:32:17,240 --> 00:32:20,240 I'll invest Rs 75 lakhs 454 00:32:20,840 --> 00:32:24,200 but I want 5 per cent of your company for it. 455 00:32:24,600 --> 00:32:26,080 I have only one requirement. 456 00:32:42,720 --> 00:32:45,080 I'll give you the same offer as him. 457 00:32:45,160 --> 00:32:49,200 Which is Rs 75 lakhs for 5 per cent. 458 00:32:49,960 --> 00:32:51,440 I have a different condition. 459 00:32:51,960 --> 00:32:55,320 My scientific advisory board of Emcure 460 00:33:09,840 --> 00:33:11,480 to be a part of it. 461 00:33:11,560 --> 00:33:13,600 - I'll always wish you well. - Yes. 462 00:33:13,720 --> 00:33:17,280 They haven't decided yet. Don't accept defeat. 463 00:33:17,360 --> 00:33:20,840 I think Namita will be able to help you better. 464 00:33:21,680 --> 00:33:22,880 I wanted 465 00:33:22,960 --> 00:33:25,000 to set the valuation before Namita gets into it. 466 00:33:25,080 --> 00:33:26,040 Thank you so much. 467 00:33:26,160 --> 00:33:29,160 Everyone wants to take the credit. 468 00:33:31,600 --> 00:33:33,360 Namita, thank you for your offer. 469 00:33:33,440 --> 00:33:34,680 We'd like to offer 470 00:33:34,760 --> 00:33:37,160 - Rs 75 lakhs... - Counter. 471 00:33:48,640 --> 00:33:52,320 Look, 15 crores is very generous. 472 00:33:52,400 --> 00:33:55,080 I'd request you to keep at least Rs 20 crores valuation, 473 00:34:01,600 --> 00:34:03,520 - Think big. - Just go to the right Shark. 474 00:34:11,080 --> 00:34:12,760 Guys, take it or leave it. 475 00:34:27,480 --> 00:34:29,120 [camera clicks] 476 00:34:30,240 --> 00:34:31,480 - Thank you. - Thank you so much. 477 00:34:31,480 --> 00:34:32,400 Many best wishes. 478 00:34:33,800 --> 00:34:37,120 [music playing] 479 00:36:06,160 --> 00:36:07,520 [theme music playing] 480 00:36:21,480 --> 00:36:23,520 Sharks, Imagine this! 481 00:36:23,640 --> 00:36:25,040 It's a moonless night. 482 00:36:25,160 --> 00:36:26,040 [evil laughter] 483 00:36:26,120 --> 00:36:31,320 And darkness engulfs everything outside. 484 00:36:31,920 --> 00:36:33,800 You're sitting on your bed 485 00:36:34,080 --> 00:36:36,880 when suddenly, you hear the distant sound of dogs barking. 486 00:36:36,960 --> 00:36:39,920 You get scared and you pull the bed sheet over yourself. 487 00:36:40,200 --> 00:36:41,960 It is 3 am, 488 00:36:42,040 --> 00:36:45,680 and the bird emerges from the clock and makes a call. 489 00:36:45,760 --> 00:36:47,360 You can't sleep 490 00:36:47,720 --> 00:36:51,880 due to a frightening, life-threatening 491 00:36:52,760 --> 00:36:54,160 hunger! 492 00:36:56,200 --> 00:36:58,360 - Will you scare us and ask for funds - Don't be scared, Sharks. 493 00:36:58,440 --> 00:37:00,000 We will not erase your existence, 494 00:37:00,120 --> 00:37:02,400 but fulfil your hunger cravings. 495 00:37:03,320 --> 00:37:04,520 With EatVerse. 496 00:37:24,760 --> 00:37:26,680 is a multi-cuisine brand 497 00:37:26,800 --> 00:37:28,320 where we serve Naan Turnover 498 00:37:28,440 --> 00:37:31,680 and Indian Chinese. 499 00:37:31,840 --> 00:37:34,560 This means your party order needs are sorted. 500 00:37:34,640 --> 00:37:38,880 At The Biryani Inc. you will get Kolkata's real Aloo Biryani. 501 00:37:39,000 --> 00:37:42,400 In Bengal, biryani is incomplete without potatoes. 502 00:37:42,480 --> 00:37:45,600 You will get handcrafted gourmet burgers at Burger In Law. 503 00:37:45,680 --> 00:37:48,960 In Asian Flare, you will get the best of pan-oriental 504 00:37:49,080 --> 00:37:50,280 and South Asian cuisine. 505 00:37:50,360 --> 00:37:53,440 Because you must have international cuisine along with Indian cuisine. 506 00:37:53,520 --> 00:37:54,960 We started our journey 507 00:37:55,080 --> 00:37:57,080 by offering late-night food delivery. 508 00:37:57,160 --> 00:37:59,200 But now, whether it's day or night, 509 00:37:59,320 --> 00:38:02,440 we're here to serve our customers round the clock. 510 00:38:02,560 --> 00:38:03,800 When we were 21 years old, 511 00:38:03,880 --> 00:38:06,600 Zomato and Swiggy didn't exist. 512 00:38:06,720 --> 00:38:09,360 Back then, we partnered with a local shop 513 00:38:17,360 --> 00:38:19,200 Now, we have 514 00:38:36,360 --> 00:38:39,240 and make it India's top food brand. 515 00:38:39,320 --> 00:38:41,200 Our ask is 516 00:38:52,920 --> 00:38:57,120 Aman, Butter Chicken Naan Turnover for you is from Santa Delivers. 517 00:38:57,240 --> 00:39:00,200 Anupam, Chicken Biryani is from The Biryani Inc. for you. 518 00:39:00,280 --> 00:39:02,800 Amit, Dal Makhani Naan Turnover for you is from Santa Delivers. 519 00:39:02,880 --> 00:39:05,760 Namita, we have a Cheese Bomb Burger for you from Burger In Law. 520 00:39:05,840 --> 00:39:08,280 Ritesh, we have Veg Biryani for you. 521 00:39:08,400 --> 00:39:09,800 Dal Makhani Naan is delicious. 522 00:39:09,920 --> 00:39:11,040 - I loved it. - Thank you so much. 523 00:39:11,120 --> 00:39:13,120 - This Biryani is good. - It is too good. 524 00:39:13,680 --> 00:39:14,360 - Well done. - Thanks. 525 00:39:39,880 --> 00:39:41,400 How did you come up with this idea? 526 00:39:41,520 --> 00:39:42,960 Please tell us a bit about your background. 527 00:39:43,040 --> 00:39:46,360 I tried working in my family business 528 00:39:46,440 --> 00:39:47,880 for around 1 to 1.5 years. 529 00:39:47,960 --> 00:39:49,240 I didn't enjoy it. 530 00:39:49,320 --> 00:39:50,600 That is when I started this business. 531 00:39:50,680 --> 00:39:52,800 - What about you? - When we started this business, 532 00:39:52,880 --> 00:39:54,120 I was studying in college. 533 00:39:54,200 --> 00:39:55,920 Later, I completed my MBA. 534 00:39:56,000 --> 00:39:58,280 After that, I started working towards our business full-time. 535 00:39:58,360 --> 00:39:59,280 What about you? 536 00:39:59,360 --> 00:40:01,520 I completed my schooling and college in Kolkata. 537 00:40:01,640 --> 00:40:03,680 And then, moved to Hyderabad to stay with my brother 538 00:40:03,760 --> 00:40:05,320 while preparing for my master's degree. 539 00:40:05,400 --> 00:40:06,760 While I was there, I noticed 540 00:40:06,880 --> 00:40:08,800 the presence of takeaways and delivery services. 541 00:40:08,880 --> 00:40:10,880 That culture didn't exist in Kolkata. 542 00:40:11,000 --> 00:40:12,760 You had to physically bring food. 543 00:40:12,840 --> 00:40:15,120 So, we got an idea from there. 544 00:40:15,240 --> 00:40:17,840 When we started Santa Delivers, 545 00:40:17,920 --> 00:40:20,920 we tied up with a small stall 546 00:40:21,040 --> 00:40:23,080 with an Indian and Chinese food menu. 547 00:40:23,160 --> 00:40:25,040 We used to deliver food for six months. 548 00:40:25,160 --> 00:40:27,240 And then we started our kitchen. 549 00:40:27,320 --> 00:40:28,680 The three of us are Marwari's. 550 00:40:28,760 --> 00:40:31,280 Harsh had a spare house. 551 00:40:31,400 --> 00:40:32,960 We started our business from his house. 552 00:40:33,040 --> 00:40:35,120 We only had permission to cook vegetarian food. 553 00:40:35,200 --> 00:40:37,480 So, the thing is, 554 00:40:37,560 --> 00:40:39,560 - when we used to get an order... - It's everybody's story. 555 00:40:39,640 --> 00:40:42,200 For Chicken Biryani and Dal Makhani, 556 00:40:42,280 --> 00:40:45,240 we had to go and get the Biryani from the stall. 557 00:40:45,360 --> 00:40:47,200 And we had to make Dal Makhani. 558 00:40:47,280 --> 00:40:48,560 That is how we delivered food. 559 00:40:48,640 --> 00:40:50,840 Back then, we were delivery partners for our customers. 560 00:40:51,640 --> 00:40:52,880 Which year was this? 561 00:40:52,960 --> 00:40:55,120 We started our business on the 14th of December 2014. 562 00:40:59,720 --> 00:41:00,960 How did EatVerse come into the picture? 563 00:41:01,040 --> 00:41:04,440 In 2017, the multi-brand cloud kitchen emerged. 564 00:41:04,560 --> 00:41:06,760 It was a eureka moment. 565 00:41:06,880 --> 00:41:09,200 We were thinking of selling burgers. 566 00:41:09,280 --> 00:41:10,800 Harsh suggested 567 00:41:10,880 --> 00:41:12,480 that we should start a QSR 568 00:41:12,560 --> 00:41:14,480 specializing in burgers. 569 00:41:14,600 --> 00:41:16,600 We were not sure about QSR specialised in burgers. 570 00:41:16,680 --> 00:41:19,440 We can sell burgers from our kitchen. 571 00:41:19,720 --> 00:41:22,440 As a result, we established Burger In Law. 572 00:41:22,520 --> 00:41:25,560 Recruited a chef, and compiled various recipes. 573 00:41:25,640 --> 00:41:27,840 Basically, you are a multi-brand cloud kitchen company. 574 00:41:27,960 --> 00:41:30,200 Yes! We are a multi-brand cloud kitchen company. 575 00:41:30,280 --> 00:41:31,720 Primarily in Kolkata? 576 00:41:31,840 --> 00:41:33,120 Primarily in Kolkata, 577 00:41:33,240 --> 00:41:35,160 with a small presence in Siliguri. 578 00:42:15,280 --> 00:42:18,040 We currently hold a market share of 1.5% to 1.7%... 579 00:42:18,160 --> 00:42:19,360 We are in their marketplace. 580 00:42:19,480 --> 00:42:21,800 We're placed at the 5th or 6th rank in terms of city accounts. 581 00:42:21,920 --> 00:42:23,200 Okay! Also, 582 00:42:23,360 --> 00:42:25,280 if I want to 583 00:42:29,000 --> 00:42:32,240 And just like you, I can create 10 brands. 584 00:42:32,320 --> 00:42:35,160 It won't matter whether you are in this business 585 00:42:35,240 --> 00:42:37,000 for 9 years or 1 year. 586 00:42:37,680 --> 00:42:40,680 If you do all the brands at once, 587 00:42:40,800 --> 00:42:42,280 you have to burn a lot. 588 00:42:42,400 --> 00:42:45,360 In our journey, we built a new brand every year, 589 00:42:45,440 --> 00:42:47,520 made it profitable and then we went on to the next one. 590 00:42:47,600 --> 00:42:51,680 There are newly funded cloud kitchen businesses that have emerged. 591 00:42:51,760 --> 00:42:53,120 Like EatFit, 592 00:42:53,200 --> 00:42:54,320 Rebel Foods. 593 00:42:54,440 --> 00:42:55,560 They are burning, 594 00:42:55,640 --> 00:42:58,200 - but their growth is also good. - Right. 595 00:42:58,280 --> 00:43:00,960 I agree! But we want to have sustainable growth. 596 00:43:01,040 --> 00:43:02,000 We are bootstrapped. 597 00:43:14,120 --> 00:43:16,160 They are promoting each brand effectively 598 00:43:16,240 --> 00:43:18,480 by marketing it well. They are building the brand. 599 00:43:18,600 --> 00:43:21,560 They can replicate the same thing 600 00:43:21,640 --> 00:43:23,000 overall in India, right? 601 00:43:23,080 --> 00:43:26,240 They've more advantages as they are funded. 602 00:43:26,320 --> 00:43:28,920 We also know how it can be done. 603 00:43:36,000 --> 00:43:37,800 replication should not pose any difficulties. 604 00:43:37,880 --> 00:43:39,280 What I have learnt is 605 00:43:39,360 --> 00:43:41,200 that a cloud kitchen has the potential to become 606 00:43:41,200 --> 00:43:43,200 a national business rather than just a local one. 607 00:43:43,280 --> 00:43:45,600 Your unique advantage is 608 00:43:45,680 --> 00:43:48,120 that you've focused all your efforts on one location. 609 00:43:48,520 --> 00:43:50,040 But once you start expanding to multiple locations, 610 00:43:50,160 --> 00:43:52,640 your entrepreneurial... - Scaling up might become a challenge. 611 00:43:52,760 --> 00:43:54,200 If you go with biryani, 612 00:43:54,280 --> 00:43:56,760 - the taste differs in every region. - Yes. 613 00:43:56,840 --> 00:43:58,760 - I agree with you. - Right? And you have to cater to that. 614 00:43:58,840 --> 00:44:00,520 There are some things, like pizza, 615 00:44:00,600 --> 00:44:03,520 that has the potential to create a national brand. 616 00:44:03,600 --> 00:44:05,680 - So, that depends on the category. - He makes sense. 617 00:44:05,760 --> 00:44:07,280 We are in the process 618 00:44:07,400 --> 00:44:10,520 of discovering and figuring out the best model 619 00:44:10,600 --> 00:44:12,560 that we want to move forward with. 620 00:44:12,640 --> 00:44:14,800 We currently have 8 brands. 621 00:44:15,080 --> 00:44:17,080 In the future, we plan to introduce two additional categories. 622 00:44:17,160 --> 00:44:20,040 We will eliminate a few categories 623 00:44:20,120 --> 00:44:24,000 that pose difficulties in scaling up. 624 00:44:24,080 --> 00:44:26,880 And we will go ahead with what is making us good money. 625 00:44:26,960 --> 00:44:29,520 We know we have to expand our presence in Kolkata. 626 00:44:29,640 --> 00:44:32,440 If the Kolkata market is worth approximately Rs. 1700 crores, 627 00:44:32,520 --> 00:44:34,920 we have the potential to capture at least 5% of the market share 628 00:44:35,000 --> 00:44:36,240 in the upcoming years. 629 00:44:36,360 --> 00:44:39,360 - You can have a business worth Rs. 85 crores. -Yes. 630 00:44:39,680 --> 00:44:41,680 Can you open around 40 kitchens in Kolkata? 631 00:44:41,760 --> 00:44:43,760 15 or 17 is a good number for Kolkata. 632 00:44:43,840 --> 00:44:46,200 What is the maximum amount of sales that can be achieved per kitchen? 633 00:45:04,360 --> 00:45:06,120 Mopp Food came before you. 634 00:45:06,280 --> 00:45:09,360 Their monthly revenue is around Rs. 70 lakhs. 635 00:45:09,760 --> 00:45:12,320 When they were on Shark Tank, I think it was around Rs. 20 lakhs. 636 00:45:12,480 --> 00:45:14,160 You are already 637 00:45:14,240 --> 00:45:15,560 scaled up locally. 638 00:45:15,640 --> 00:45:17,280 If I invest in your company, 639 00:45:17,360 --> 00:45:18,880 how will I make money 640 00:45:18,960 --> 00:45:20,880 with this valuation? I fail to comprehend that. 641 00:45:20,960 --> 00:45:22,320 You've introduced all the cuisines. 642 00:45:22,400 --> 00:45:23,760 You've established all your brands. 643 00:45:23,840 --> 00:45:25,440 There are a few remaining, which you will eventually introduce. 644 00:45:25,520 --> 00:45:27,520 Everything will be stagnant. So, what's the long-term plan 645 00:45:27,600 --> 00:45:29,600 - to justify investors' return? - We believe... 646 00:45:29,680 --> 00:45:31,640 We believe that we can achieve double-digit growth 647 00:45:31,720 --> 00:45:34,760 compared to the current EBITDA. 648 00:45:34,840 --> 00:45:36,880 You have been working in your business for the last 10 years. 649 00:45:36,960 --> 00:45:39,040 You are making around 5% now. 650 00:45:39,120 --> 00:45:40,240 How are you running your household? 651 00:45:40,320 --> 00:45:41,960 Our EBITDA is after deducting salary. 652 00:45:42,040 --> 00:45:44,120 - How much is your salary? - We take Rs. 1.5 lakhs each 653 00:45:44,200 --> 00:45:45,120 - every month. - Rs. 1.5 lakhs? - Yes. 654 00:45:45,240 --> 00:45:46,680 Let me explain something. 655 00:45:46,760 --> 00:45:49,840 The food delivery and cloud kitchen industry you are referring to 656 00:45:50,320 --> 00:45:51,800 is a sub-industry. 657 00:45:51,880 --> 00:45:55,520 There are two giants in this industry. Swiggy and Zomato. 658 00:45:56,080 --> 00:45:57,840 They are gatekeepers of this industry. 659 00:45:57,920 --> 00:46:02,160 Your margin will be determined by two factors. 660 00:46:02,240 --> 00:46:04,400 Either Swiggy and Zomato should let you create your presence. 661 00:46:04,480 --> 00:46:06,920 Why would they do that? They are not running a charity. 662 00:46:07,560 --> 00:46:08,680 Or, 663 00:46:08,880 --> 00:46:12,160 unless the customers exclusively order food from you 664 00:46:12,280 --> 00:46:13,920 and are willing to pay a premium price. 665 00:46:14,000 --> 00:46:16,880 Unless there is evidence of this, 666 00:46:17,080 --> 00:46:19,760 you cannot earn more profit than what you are currently making. 667 00:46:20,800 --> 00:46:23,640 Our expenditure on the main kitchen is substantial. 668 00:46:23,640 --> 00:46:26,000 We are aware that it will not escalate over time. 669 00:46:26,080 --> 00:46:27,720 Your commission 670 00:46:27,840 --> 00:46:29,480 will continue to be an expense for you. 671 00:46:29,960 --> 00:46:30,920 Have you ever 672 00:46:31,040 --> 00:46:35,200 considered the idea of creating your own QSR front-end outlet? 673 00:46:43,520 --> 00:46:45,840 - operating a brand on the front-end and back-end. - I agree. 674 00:46:45,920 --> 00:46:47,280 But that is what 675 00:46:47,360 --> 00:46:48,680 attracts customers. 676 00:46:49,080 --> 00:46:51,280 Otherwise, you are dependant on an algorithm. 677 00:46:51,600 --> 00:46:55,240 Do you think you are behind in seeking funding? 678 00:46:55,360 --> 00:46:57,160 I don't believe that it is never too late to start. 679 00:46:57,240 --> 00:46:59,720 We can disrupt the industry and be at the top. 680 00:46:59,840 --> 00:47:02,120 You could have dominated the market if you wanted to. 681 00:47:02,200 --> 00:47:04,800 There was a pandemic in 2020. 682 00:47:04,920 --> 00:47:08,320 We already had 7 kitchens in 2019. 683 00:47:08,400 --> 00:47:10,480 We shut down all the kitchens except for three. 684 00:47:10,560 --> 00:47:12,720 It was a tough time for us. 685 00:47:12,800 --> 00:47:14,520 Our revenue was 25%. 686 00:47:14,640 --> 00:47:16,960 Upon overcoming that obstacle, 687 00:47:17,160 --> 00:47:20,160 we were convinced of our ability to achieve anything as long as... 688 00:47:20,280 --> 00:47:22,080 Back then, I had a team of 100 people. 689 00:47:22,160 --> 00:47:24,840 They supported us and encouraged us to continue running our business. 690 00:47:24,920 --> 00:47:28,000 It gave me a sense that we had built something beyond mere business. 691 00:47:28,080 --> 00:47:30,520 - That is great! - Pulkit... - Amit mentioned... 692 00:47:30,600 --> 00:47:32,520 You are raising Rs. 1 crore. 693 00:47:32,600 --> 00:47:34,680 - And the valuation is Rs. 100 crores. - Yes. 694 00:47:34,760 --> 00:47:37,520 What will you do with that? I agree with Amit 695 00:47:37,880 --> 00:47:39,720 - that you can't generate more profit. - I understand 696 00:47:39,720 --> 00:47:42,120 that Rs. 1 crore is not enough. 697 00:47:42,200 --> 00:47:44,400 But with that money, 698 00:47:44,520 --> 00:47:46,400 we want to upgrade our base kitchen. 699 00:47:46,480 --> 00:47:50,000 We want to come up with our best model 700 00:47:50,120 --> 00:47:51,560 through R&D 701 00:47:51,640 --> 00:47:53,120 that is easily replicable. 702 00:47:53,200 --> 00:47:56,000 For example, if we open a kitchen near Delhi, 703 00:47:56,120 --> 00:47:58,680 it can cater to four cities. 704 00:47:58,760 --> 00:48:01,160 Delhi, Chandigarh, Lucknow, and Jaipur. 705 00:48:01,240 --> 00:48:03,720 We can utilize a single commissary to its fullest potential. 706 00:48:03,800 --> 00:48:05,760 But do you think those in Delhi are doing nothing? 707 00:48:06,680 --> 00:48:09,080 They will not let you enter. It's not easy, bro. 708 00:48:09,240 --> 00:48:10,920 You established your business in your region. 709 00:48:11,000 --> 00:48:12,520 After ten years of dedication 710 00:48:12,600 --> 00:48:14,520 - you've achieved significant growth. - Yes. 711 00:48:14,600 --> 00:48:17,000 And yet, you have 1.7% of the market share. 712 00:48:17,080 --> 00:48:18,880 When you go to a new region, 713 00:48:19,000 --> 00:48:20,520 that is a different level of risk. 714 00:48:20,600 --> 00:48:21,880 Not just execution, 715 00:48:21,960 --> 00:48:24,120 but taste and competition. 716 00:48:24,200 --> 00:48:26,120 You seem lost. 717 00:48:26,200 --> 00:48:28,440 - You are running a business in Kolkata. - Yes. 718 00:48:28,520 --> 00:48:31,920 I believe you can scale it to Rs. 30 or Rs. 40 crores. 719 00:48:32,120 --> 00:48:34,600 However, venturing into a new region 720 00:48:34,720 --> 00:48:36,680 is a huge risk. 721 00:48:36,760 --> 00:48:38,080 You haven't 722 00:48:38,200 --> 00:48:41,320 tried doing that in 9 years, but doing that now with Rs. 1 crore 723 00:48:41,400 --> 00:48:42,480 is suicide. 724 00:48:42,600 --> 00:48:44,800 And that's the reason I am out. 725 00:48:45,680 --> 00:48:46,840 All the best. 726 00:48:46,920 --> 00:48:48,760 Your vision lacks clarity 727 00:48:48,840 --> 00:48:50,120 regarding the strategy for scaling 728 00:48:50,200 --> 00:48:51,840 and providing an exit to the investor. 729 00:48:51,920 --> 00:48:54,480 So, all the best. But I cannot be a part of your business. 730 00:48:54,560 --> 00:48:55,960 - So, I am out. - Thank you. 731 00:48:56,040 --> 00:48:58,120 I am interested in this business. 732 00:48:58,200 --> 00:49:00,400 I invested in Mopp Food, and I made good money. 733 00:49:00,480 --> 00:49:02,040 But I entered it at the right valuation. 734 00:49:02,120 --> 00:49:04,440 My issue isn't whether or not you can do business. 735 00:49:04,520 --> 00:49:06,680 I am pretty sure it can be a profitable business. 736 00:49:06,760 --> 00:49:08,600 But how far can I go with negotiation? 737 00:49:08,720 --> 00:49:10,360 When I do the math, it's really behind. 738 00:49:10,440 --> 00:49:14,080 I'm not sure I agree with the valuation that you have proposed. 739 00:49:14,600 --> 00:49:16,000 I am out today. 740 00:49:17,200 --> 00:49:18,720 Pulkit, Harsh, and Adarsh. 741 00:49:18,800 --> 00:49:20,760 There are businesses that you should run on your own. 742 00:49:20,840 --> 00:49:22,760 You still haven't raised funds. 743 00:49:22,840 --> 00:49:27,840 So, I think you should have raised funds in the past. 744 00:49:27,920 --> 00:49:30,200 Secondly, a valuation of Rs. 100 crores is too much. 745 00:49:30,280 --> 00:49:32,200 So... I have a suggestion for you. 746 00:49:32,280 --> 00:49:34,920 You should work on your branding. 747 00:49:47,000 --> 00:49:48,520 But unfortunately, I am out. 748 00:50:16,760 --> 00:50:18,800 If you had mentioned 749 00:50:18,880 --> 00:50:20,480 you want to be a dominant business 750 00:50:20,640 --> 00:50:24,080 in Kolkata, Siliguri, and in and around West Bengal, 751 00:50:24,160 --> 00:50:26,240 I would have been interested in that. 752 00:50:26,640 --> 00:50:28,360 I believe you are thinking 753 00:50:28,440 --> 00:50:31,080 about whether or not to create a national model. 754 00:50:31,160 --> 00:50:32,880 Once you decide that 755 00:50:32,960 --> 00:50:35,440 you are interested in making it a regional business, 756 00:50:35,560 --> 00:50:37,080 I will support that 757 00:50:37,160 --> 00:50:38,680 through my experience. 758 00:50:38,760 --> 00:50:39,920 For that reason, I am out. 759 00:50:41,320 --> 00:50:43,560 But you've built an amazing business. 760 00:50:43,680 --> 00:50:44,720 Many best wishes for that. 761 00:50:44,800 --> 00:50:45,520 Thank you! 762 00:50:45,600 --> 00:50:47,520 All the best, guys! Just because 763 00:50:47,520 --> 00:50:49,640 we didn't invest, that doesn't mean your business isn't good. 764 00:50:54,920 --> 00:50:56,080 All the best. Too good! 765 00:50:56,200 --> 00:50:57,400 - Thank you! - Thanks. 766 00:52:41,760 --> 00:52:45,360 Today, the CEO and Founder of OYO Rooms, 767 00:52:45,440 --> 00:52:48,320 Mr. Ritesh Agarwal, is joining us in our small office. 768 00:52:48,440 --> 00:52:50,720 - Sir, welcome. - Thank you! Thank you so much, Rahul 769 00:53:13,600 --> 00:53:17,280 having the determination to succeed is more important 770 00:53:17,560 --> 00:53:20,200 than having a backup plan. 771 00:53:20,320 --> 00:53:23,320 I started this company after completing 12th grade. 772 00:53:23,520 --> 00:53:25,520 As you might know, my family members 773 00:53:25,680 --> 00:53:27,600 scolded me a lot 774 00:53:27,720 --> 00:53:30,760 - for quitting my education. - Yes. 775 00:53:30,960 --> 00:53:33,120 I convinced my mom 776 00:53:33,200 --> 00:53:35,640 - to let me take a gap year for one year. - Got it. 777 00:53:35,720 --> 00:53:37,880 If my company does well in a year, 778 00:53:38,320 --> 00:53:39,720 then let me go ahead with it. 779 00:53:39,800 --> 00:53:43,120 If I fail, I will continue my education, just like my friends. 780 00:53:43,280 --> 00:53:45,640 But I was not interested in doing that. 781 00:53:46,040 --> 00:53:48,360 I just wanted to convince them 782 00:53:48,440 --> 00:53:50,040 to give me a year. 783 00:53:50,120 --> 00:53:52,320 I believe that if you work hard and do a good job, 784 00:53:52,400 --> 00:53:53,320 you will see results. 785 00:53:53,400 --> 00:53:55,440 You might fail once or twice, but you will eventually be successful.