[thundering]
[upbeat music playing]
[theme music playing]
[camera clicks]
Hello, guys! I am Vaish! As in, Vaishali
Gen Z YOLO types.
People seem to have an issue with me.
They claim that even if I sneeze, I post it on Instagram.
So what? I am an instagrammer.
Before posting a picture online, you have to put in a lot of effort.
Make your face look brighter, get rid of the scars,
apply a filter and then upload it. Do you know why?
The difference between my reel
and real skin is similar to
my rich boyfriend Rahul's dad's wealt
and his IQ.
[upbeat music playing]
Hello, everybody! Rocky Randhawa this side.
I worked hard on building my body.
Whenever I wear a low-neck T-shirt,
women always check me out because it's completely natural.
However, to showcase my body properly
you have to endure the pain of chest waxing every few days.
This shows that men also experience p
And it hurts a lot.
Someone, please save me from waxing every fortnight.
[upbeat music playing]
Wow! Is there more?
Hello, I am Parminder Pawa from Rajou
Life pulled a prank on me.
With time, the cheeks are pigmented,
there are wrinkles on the forehead,
hair fall, and skin dullness.
And from pretty Pam, I've become Aunt Parminder.
- Aww! - I am exhausted after spending
both my hope and money to regain my youthful skin.
Whoa!
Sharks, Vaish, Rocky, and Parminder's story,
is based on millions of people
who don't feel confident
because they have skin or body issues
I am one of them.
Despite completing my studies from IIM Bangalore
and being a national-level pistol sho
I had an identity crisis because I suffered from acne.
Someone suggested laser treatment to
And that changed my life.
My acne faded away,
but I also ended up spending a lot of money.
These treatments are expensive
at skin clinics.
Neither the price nor the process is standardised.
And people have to keep visiting the clinic to take sessions.
Sharks, people want everything delivered to their doorstep,
so why not laser skin treatment?
That's why I launched Avataar Skincar
where we provide world-class laser treatments
our clients
[Anupam and Vineeta laughing]
- Amazing energy. - Thank you.
Is this how you are, or today...
No! I can act very professional also in business meetings.
Did you perform in the theatre?
I used to do stand-up comedy in colle
Before we get to all of it, tell us about yourself.
And pistol shooting!
And pistol shooting, actually!
I was born and raised in Bhopal.
I went to NIT Bhopal and studied engineering.
Also, my grandfather was a police off
There was a gun lying around and it caught my attention.
A huge academy opened in Bhopal.
- So, I began my professional training. - Very nice.
For two years, I worked at Bharat Heavy Electricals in Bhopal.
And everyone was giving CAT exams, so, I did the same.
So, I landed in IIM Bangalore.
So, I was hired to lead that.
I worked with them for 1.5 years.
It became a business worth ¤1.5 million.
It gave me confidence
that I could also do something of my
Then I worked towards Avataar.
My distant cousin trades lasers.
He imports cheap, uncertified devices and sells them to doctors.
So, his business was growing at 20-25% back then.
And the interesting part was,
all of this growth was coming from cities like
Jhansi, Gwalior, Kakinada, Siliguri.
That is when I realised
that there is a market which is already developing.
And whoever is trained on the device can operate it.
- They are called aestheticians. - Correct.
So, all the elements in this industry
seemed to be just right. That's number one.
Secondly, I could see how much people were spending.
I did one more thing.
In late 2021,
I took up a job as an accountant at a clinic.
who cannot frame a sentence in English used to visit to get Botox.
Even if the slightest wrinkle was vis
they used to come back to get that treated.
- I just... - I am not making fun of my clients.
Women from Karol Bagh come to get Botox treatment.
They are your customer.
- You've to be extra sensitive towards them. - I wasn't making fun.
We tend to assume...
Only a specific group of people will visit such clinics.
Only those who are familiar
with Western culture would be aware of this.
But that is not true.
Why did you choose the name Avataar?
We were looking for a word that everyone could relate to.
In Bhopal, when I say I run Avataar Skincare
they understand it. When I tell my boss from Heidrick,
that I have a start-up called Avataar Skincare
This treatment is similar
to Urban Company, which is a salon at home,
Avataar is skincare at home. That's it.
Sir, please don't compare us.
The company's name that you mentioned
their value proposition is convenienc
Our value proposition is best results
- No! - Then?
Kaya's results differ significantly from our services
in terms of standardization.
Hold on!
You will be able to explain this bett
if you tell us about your products.
I think we will understand how the product works.
What is your business model?
Our average ticket size is 25-30% cheaper
compared to other brands.
If you go to Kaya for hair reduction,
they will charge Rs. 70,000.
Urban Company offers permanent hair reduction.
- We are cheaper than them. - They also bring a machine home.
It's not the same compared to these machines.
Why do you become defensive when another brand is mentioned?
You can just accept it, right?
If you are always defensive,
- we won't get an answer to our questions. - Fair enough.
I have a question regarding your business model.
How do you operate?
Our therapists have roles.
They have to report according to the roster.
They use Uber for business
to book a cab for themselves.
- They take the machines to the customer's home. - Yes.
They go and provide treatment.
- Do they come back to the dark store? - Yes.
Got it.
I would like to know
the profiles of your therapists.
Sure.
This is our app
where you have the option to select treatments.
If you want to book a consultation with a doctor,
After that, they book the service.
And once the treatment is completed, they can pay.
But this doesn't tell us
that you are better than the others.
What are the two reasons,
why your results are much better
than Kaya and Urban Company?
that incentives don't solve everything in the long term.
And that cannot be your differentiato
because everything you mentioned can be replicated.
Secondly,
you don't have the numbers and data
on how that impacts the output.
I will answer both the points.
Number two is that we have 50 therapi
Two of them quit and started working with our competitors.
If we get late appointments...
If a client wants an appointment at 6.30 am,
if the therapist stays far away,
she opts to spend the night at our of
Someone is always staying back at night in our office
without any incentive.
We have around 2 kilos of flat rice,
pasta and more stocked in our office.
So, the culture that we have...
Saumya, what are your SOPs for that culture?
Was it accidental,
or did you deliberately make a playbook of culture?
That would be your differentiator.
Bring it to life for us.
This culture existed even when there were just five of us.
I think these ethos have continued.
It is a good idea to write down how to do this.
- You don't have it yet. Make a playbook now. - Okay.
Right? So that you can scale.
Saumya, you have not yet mentioned the third point.
in a service company. Training!
Tell us about that when you talk about culture.
Our training is such...
For us, the therapist is the face.
There are doctors in the clinic
and a beautiful receptionist who speaks English.
They also offer chamomile tea.
None of that happens in our case.
A girl shows up at your house.
We have instructed them in a manner
to ensure that the customer feels comfortable.
We train them to tell our customers
that since they are getting a hair reduction treatment,
I will put a laser beam on their hand
which will give them a sensation
of heat when wearing black clothes in the summer.
It's simple and comfortable.
But what do people prefer?
To get the treatment done at the centre or home?
If we have 100 customers,
one customer asks to get the treatment done at the clinic.
Home service... All this!
How much is it currently versus the clinic?
- Market? - Yes! Percentage!
If we take 20%, it will be 20%.
Saumya, your responses exhibit
a sense of arrogance.
Either you are putting people down,
or you are disrespecting the question
No! I am sorry if it's coming off like that.
- I am not trying to put anybody down. - Okay, Saumya.
Your market
is phenomenally huge.
But I am out. Because from the start,
I have this strong feeling that you lack humility.
In this category,
women struggle with insecurities.
You need to show extra empathy in this line of work.
Also, you look down on your competiti
For 20 years, numerous companies have been working towards standardiza
You get to learn a lot from it.
But according to our conversation, it feels like
you lack humility.
And that will come in the way of building a large business.
That's my feedback. I am out.
You wanted to say something. Please tell us.
I don't think that I lack humility.
I apologize if it seems that way.
Secondly, we are not trying to look down upon our competition.
But I believe that
even if someone manages to raise a significant amount of money
and recruit top-notch professionals from around the globe,
they may still be making less profit than us in a single city.
While we are running our business with freshers and interns.
So, I think
we've built something that we should be proud of.
But why are you getting so emotional?
Because you questioned
my personality, I am not humble.
Okay!
- It's a point of view. - It's a point of view.
That you may have come across like th
- May I have some water? - But that's not... Yes, absolutely.
[tense music playing]
We haven't gotten to the sales aspect
and we've made our decision. There must be a reason for it.
I am out.
I am out because I feel that there is a lack of core differentiation.
You've had a stellar career.
There are a few things... There is a language.
Things get created in language, and they get destroyed in language.
Vineeta pointed out something earlier
You mentioned the women of Karol Bagh
You didn't mean any harm.
But language is very important.
You respect your staff.
You give them food and let them sleep in your office.
And then you mentioned incentives.
We need to instil
a sense of dignity in labour within I
We have 1500 employees.
I will never say 'ask that boy to make a sale'.
'Rajesh will serve you' and not 'a boy will serve you'.
I am out today because I think it is going to be a long journey.
But best of luck.
What is your view on this?
I think I've messed this up.
- No! - Why do you think so?
It has nothing to do with messing up.
This is the evolution journey of an entrepreneur.
When I say
that 'a girl shows up', that's what the client thinks.
Why won't we respect our customers?
We grow because of our clients.
30% of our business every month
What did I say to you?
I am giving you feedback.
I am not asking for justification.
I am saying you will do well. Okay?
You will do very well.
I am also learning. I am also making mistakes
even now.
I gave you a feedback based on that. I didn't judge you.
- Okay! - Right?
Let's talk about happier stuff. Tell us about the sales.
The sales look good.
But the valuation of Rs 70 crores
and your annual sales are around Rs 7 crores.
Where does 10x sales come from?
We think we have generated a proof point.
That we can achieve sales across the spectrum.
Basically, we need to plant centres which is simple.
Have you raised a round before?
This is our first round.
How many commitments did you receive and what's the round size?
The round is for ¤2 million.
- Okay. - Wow.
For 500K, we want some
strong angels associated with us.
- So 1.5 million has been committed. - Yes.
But before that, I'd like to give you a two-point feedback.
Rs 70 crores is a very high valuation.
A bigger feedback and the reason I'm not coming
is that training is the biggest thing
where I spend most of my time.
Because this business is based on trust.
So, I didn't get a proper response from you.
Please work on that.
So that an investor gains confidence that this business is based on trust
and your therapist will do justice.
Lovely meeting you and I love your energy.
Thank you.
Saumya, why are you people investing on you?
The margins are good.
Share the margins then.
Every girl...
Every customer who goes to a salon
spends at least Rs 1000 on waxing.
And they get waxing done for at least 30 years, minimum.
So, I'm asking you to buy it for Rs 35,000.
So, the market and value proposition
are big, and nobody is standardizing it like we are.
- Are you profitable now? - No.
Operationally, we're able to make 9 per cent at CM2 level.
Not like 50 per cent of it will be happening at homes.
If you consider a franchise model,
where you can supply machines,
I don't know what your sourcing is for that.
You said that your cousin imports it.
We do it directly now through our contact from the cousin.
So, these machines...
So, people don't get these machines.
Only we have it.
So, if we have that differentiator...
Then why don't you mention it?
So, you can create an omnichannel business with that.
So that the brand is evident
and your revenue, opportunities will multiply.
We have started our first offline clinic.
We have our board put up.
Do you have money left?
I have Rs 25 lakhs in my account.
If it doesn't then I will sell my apartment and make it work.
Saumya, let me tell you something.
The valuation is completely off.
But there's a spark in you.
Rough around the edges.
[chuckling]
But there's a spark.
So, I'm willing to take a bet. And my offer
Can we make it a mix of equity and debt?
In which, please don't change my valuation for equity
but give me debt instead.
Why aren't you looking at me? I don't like it.
So, make it Rs 35 lakhs for 0.5 per cent.
Here.
- And 35... - Rs 35 lakhs for 0.5 per cent.
And Rs 35 lakhs debt. What is the interest rate for the debt?
And Rs 50 lakhs debt.
At 14 per cent interest rate, paid over?
One year?
That the trust factor
is critical.
That's a very simple point.
Who understood your business before you mentioned omnichannel?
- Oh, God! - Isn't it?
You decide. This will go on.
Who created an offer for you?
Why can't you come together?
The equity is less.
There should be some incentive.
Let's raise the equity at the same valuation.
What's your counter, Saumya?
I'd like you both to offer Rs 35 lakhs debt each
I'm okay with that.
- Do you want to join him? - Do you want this?
Do it. It will be great.
[music playing]
Congratulations. Well done!
Thanks a lot.
[music playing]
In the city, weddings happen easily.
But in villages, there are many challenges.
So, I
created Chalte Firte Mangal Karyalay.
Why do you need to go to the doorstep of Mangal Karyalay
when Mangal Karyalay can come to your doorstep.
Near your house or in the village.
When we uploaded our video on YouTube,
it became so viral that
there's mobile tower. Similarly, our presence must be in every village.
- This is our vision. - Wow.
on Shark Tank.
Let's take this to every doorstep in India.
So, Sharks, I welcome you all.
- Wow. - Wow, let's go.
- Where are we going? - To see Mangal Karyalay.
[music playing]
Come on.
[song playing]
Amazing.
- Who thought of it? - It's my design.
- Yours? - Are you an engineer?
No, Sir. I'm 12th pass.
If we set up a Mandap, it will cost Rs 1-2 lakhs.
- On the ground... - We give it for Rs 50,000.
Our current price range is Rs 200-250.
- Alright, man. This is crazy, cool. - Whoa!
- Wow. - Wow.
[music playing]
It's giving wedding vibes.
Not bad. Oh, look at that disco ball.
It doesn't seem like we're on a truck.
- What is this smell? - It's from the carpet, Sir.
- Is it always like that? - No.
Why isn't there an exhaust here?
There is a vent here.
- There is a brand of speaker. - boAt.
- Use that. - Yes.
We will change all the speakers once the investment is done.
[song playing]
[ululating]
Hello, hold my hand.
[song playing]
Alright!
- We loved it. - Loved it.
I love that there's so much happening in India.
Very good!
It must be India's first portable...
It's the first in India.
Amazing.
But I didn't see a toilet there.
No, Sir. We have a different vehicle for that.
sold Vada Pav, and finally got to this.
Oh, wow.
I worked at Pune MIDC for 4 years, Sir.
Okay.
And I was a helper who used to sweep.
Oh my!
And Omkar, are you doing it full-time?
As of now, I'm in college.
But apart from college, I help my dad with this.
It's been a year since I started it.
Yes, right.
So, there is less demand.
The customer asks for more.
Some people invite 600 or 1000 people to their wedding.
Then how will you manage that?
they will ask for Rs 2-3 lakhs.
- So, you're cheaper. - Yes.
How cheap are you? You charge Rs 50,000.
Yes, I charge Rs 50,000.
What about food?
For a wedding of 200 people,
A community center space.
The hall is far from your house.
If I want to conduct the wedding in my fields,
since I have a big field.
I'm compelled to go to a hall.
Near the pond,
we can conduct the wedding anywhere we want.
What do people say when the wedding is conducted here?
- Do they like it? - When we conduct a program in this,
they love the place.
That's how I get bookings.
But they demand more, and we have our limitations.
Since it's new.
- Yes, it's new. - There's novelty.
Sir, I got a call from MP.
He was a retired military man and it was his retirement day.
He was willing to spend Rs 2 lakhs and get it done in my vehicle.
Did it happen?
- No, Sir. I can't go to MP. - Okay.
I don't have that many vehicles.
How many vehicles do you have?
- We just made one. - One.
How much do you spend on one vehicle?
The old truck I bought is for Rs 10 lakhs.
So, you've earned Rs 1.5 to 2 lakhs.
Rs 2 lakhs.
How much money do you take home?
Once the vehicle is set,
we have to spend Rs 5000 only.
You spend Rs 5000 on it.
But let me assume Rs 10,000 since there's a maintenance cost.
So, you're left with Rs 40,000.
So you make Rs 1-1.25 lakhs every month.
So, you make Rs 15 lakhs annually. Let's assume Rs 12 lakhs.
- That's your profit. - Rs 12-13 lakhs profit.
So, you will recover your investment in 3 years.
- did you borrow it? - I already have a Mandap business.
From my savings.
- Is that Mandap business still on? - Yes.
How much do you make in it?
I make more than Rs 1 crore every year.
No, Sir. Is Rs 1 crore profit or your sales?
No, it's profit.
- For a year? - Yes, a year.
Ever since this business idea struck me,
- I don't focus much on that. - Yes, it has reduced.
But you're making Rs 1 crore
then how can you lose focus?
Sir, what happened is
my father's material worth Rs 4 crores...
Since 2016, all his investment
has been routed into this.
- In the truck. - So, he kept selling it.
But during lockdown,
we were left with material worth Rs 1.5 crores.
He sold it at Rs 18 per kilo.
You've invested Rs 4 crores in it since 2016.
Yes.
I opened an office in Pune.
I paid Rs 42,000 as office rent.
Rs 50,000 was the godown rent.
And I had a team of 10 people.
Designs, interiors, fabricators,
the team that we require.
I have surveyed and held that team in place, Ma'am.
I used to pay them Rs 18,000- 20,000.
From 2017 to date,
how much have you spent in total?
If you have to build the same thing again,
you will only need Rs 40 lakhs. Is that right?
Lesser than that, Sir.
If we make trucks in bulk,
between Rs 30-35 lakhs,
- we can make it. - But the point is
you're saying that you want to increase the number of trucks.
- Yes. - Why do you want to increase it?
With this truck,
if you put it out for 150-160 days
then you will make money.
To be honest, in a month,
I will put it out for 30 days.
But do it first. Why do you want to increase the number?
- No, one is not enough. - One is not enough.
So there's not much business in one location.
So you will need a vehicle in every location.
- Right. - Yes.
So, the money that's invested
and the business from that vehicle is not enough.
Correct.
So, I'll share my plan a bit.
There are 36 districts and I'll have an office in each.
In every district, I'll have 25 vehicles.
- Service... - I have a plan for 900 vehicles.
If I have 900 vehicles in the market,
then I'll make Rs 4.5 crores every day.
In a month, I'll make Rs 145 crores
- with 900 vehicles-- - Sir. Mr Dayanand.
You've invested Rs 4 crores so
it's our responsibility to tell you the truth.
- The problem is that if one vehicle - Yes.
doesn't have business for 20-25 days in one region,
then your dream of 900 vehicles and Rs 4.5 crores is not possible.
The idea is that if we take Rs 2 crores
then we will have 4 vehicles.
If that vehicle is rented every day
then the total for 4 vehicles is Rs 2 lakhs.
Rs 2 lakh multiplied by 10 days makes it
- Rs 20 lakhs. - Rs 20 lakhs.
But we're at 4 days now, and that's the challenge.
Your average is 3.5 days.
Try to run it for 10 days in one place first.
Before you do 10 days in another place.
I really liked meeting you. Your idea is great.
You started with a meagre job. You said you used to sweep.
Today, you were doing a revenue of Rs. 1 crore.
You now have an event hall of your own.
You aspire to go higher and that's great.
Here's my suggestion.
As everyone said,
focus on this vehicle and increase its efficiency.
You've brought it to Mumbai.
Try it out in some other areas too.
Unfortunately, I won't be able to join you now,
but all the best.
I also want to say that it was fun to meet you,
but let me tell you my problem.
When I entered the truck, I saw a safety issue.
During the 'pheras', you light a fire in there.
So, the 'pheras' take place around the fire in a small space.
The platforms you used as extensions also seemed highly unstable to me.
Please think about it.
I find it risky.
- I am out for that reason. - Thank you.
Look, yours is a good idea.
It's a constricted space
and you've figured out the electricity system.
The business will come and it will also grow big.
So, if there is no demand
at the place where the vehicle is currently parked,
take it to a place where the demand is high.
Secondly, you've not accounted for all the expenses.
I refuse to believe that the cost per event is Rs. 5,000.
I wish to give you a piece of advice here.
Don't be in a rush.
Take one step at a time.
Okay? I am out today.
I don't think I can be of much help to you.
Best of luck.
I am out too.
Do not invest more capital in this at the moment.
Once you have a booking for 20 to 22 days,
then take it forward.
Your product is good, but it does not have a demand.
You came from Latur and inspired everyone
with your zero to Rs. 4-crore journey.
So, thank you.
- I'm out. Good luck. - Thank you.
- Sir, you sold 'vada pavs', right? - Yes, I did.
- Did you make money? - I did.
Why did you shut it down?
I shut it down to start a marriage decor business.
You made more money here.
- Yes, I did. - Right?
Suppose your 'vada pav' business or your decor business
ran into losses,
would you have started the latter in another city?
- Not if it was making losses. - No.
- You would not, right? - No.
You've been trying to make this business work for the last 8 years.
And for the last year, you've been getting 3.5 bookings a month.
You refuse to accept there is no demand.
Let me tell you what has happened.
You sweated blood over this business for eight years
and gave it all your all
only to fall in love with the idea.
You are now obsessed
and want to invest in 900 trucks!
You need to understand that because plans don't make businesses.
Please refocus on your earlier marriage decor business.
Go back to making Rs. 1 crore profit as you previously were.
If that business thrives, this will also thrive side by side.
If you do this instead of that, you will lose at both.
I am out.
Good luck to you. All the best.
Thank you.
- Thank you. Bye. - Thank you.
[music fades]
[theme music playing]
[music concludes]
- Greetings, Sharks. - Greetings, Sharks.
We are growing.
We have crossed 140 crores and yet we keep growing.
The land needed to feed this growing population
is decreasing day by day.
We need an advanced technology in the field of agriculture today,
like hydroponics.
From the farmers in villages to the scientists aboard spaceships,
they all use this technology to grow their own food.
Sharks, hydroponics has been around in Western countries for years.
This technology did not become that popular in India.
It saw three major challenges.
[joyous music playing]
Kryzen Biotech is an agritech company
that constructs vertical farming ecosystems
giving you maximum production in the least amount of space
and geography in mind.
we have helped over 40 farmers from Manali to Andaman and Nicobar
and to make farming a profitable and sustainable business.
We come to you with a small ask
Please start by telling us how you use AI in this field.
We are using AI in two areas.
Owing to changes in the climatic condition
and the current market trends,
the prices of the commodities change.
That helps us analyse
whether the pricing will increase or decrease.
Based on that,
we can decide whether to plant a particular commodity.
For example, the winter season is upon us.
As we can see, the prices of basil will remain stagnant.
The prices of bok choy and broccoli might increase.
Based on that, the farmer can decide to grow broccoli,
which will bring him higher gains in the coming few months.
Our AI is at a very basic level right now,
but will advance with time.
Did you make it yourself?
What is your background?
I am an electronics and telecommunications engineer.
Are you a couple?
- Yes. - The story behind it is connected to you.
- Oh! - Did you meet on Shaadi.com?
- Yes, ma'am. - Really!
I know what hydroponics is.
Could you explain it to the rest?
[laughs]
An easy way to put it would be,
- hydro means water. - Wow!
You're putting something to work.
When water is used to grow plants in place of soil,
The first benefit is that soil-dependency is eliminated.
The second advantage is this.
Land requires plenty of resources.
If we spray fertilizers,
only 1% goes to the plant and 99% gets wasted.
In hydroponics, you have control over it.
We can maximise production capacity with the least amount of resources.
It does not require the use of pesticides or herbicides.
It has all the nutritional values.
It does not contain heavy metals or nematodes.
Explain your business to me. What do you do?
Let's take Mr. Chowdhary's example.
Mr. Chowdhary lives in Bengaluru and owns land in Lucknow.
He wants to do farming there because the land is idle.
Then they start searching for Kryzen Biotech
and researching about us.
They approach us.
Any customer who visits the website has two options.
If they wish to know about hydroponics,
we offer a Hydroponics Masterclass.
They can understand the entire process by doing the course.
Next, we plan a site inspection for the customer.
whether there are trees, rocks, a pond or anything else.
You send your team there for the survey.
Our team members go there.
The survey is done free of cost.
No. We charge them
It's a good way.
Once the farm set-up is completed and the handover is done,
The price of the Swiss chard might fall in the future.
There is a possibility of that happening.
They will have two apps.
The first app is for them
and the second one is for their labour.
This is the mobile app that labour has access to.
We can view the pH level of water and the TDS.
These readings are obtained from the hydroBUILD.
You can choose to grow vegetative crops
or fruiting crops.
Based on that, it designs a fertigation plan.
You could also decide the cultivation phases
like the seedling phase or vegetative phase.
This provides us with more data and does the rest of the work.
- Is the device made by you? - Yes.
It's great. You've made a Shopify out of hydroponic farming.
[chuckles]
So, you charge a one-time fee to set it all up.
The management is done by them.
Yes, that's right.
Is this done as a hobby and for individual farming,
- Gradually, this... - Suppose I have a piece of land.
If I set up your system,
will I get a good return?
Suppose I own 5,000 sq ft of land in the village.
I set up this farm there.
And from that land parcel,
Is the nutrient value the same?
- These are better. - Ours are better.
Why so?
- Because... - They give targeted nutrients.
It does not use pesticides.
There are no heavy metals whatsoever.
If you check Zepto or Blinkit, you'll see that
they sell at a premium.
- By how much? - About 30 to 40%.
We've been tracking it for months.
On Zepto and Blinkit, by 11 am or noon, it is sold out.
What are you doing to increase the awareness?
We run a hydroponic course.
We run meet-ups.
We educate farmers.
- We give free farm visits. - Yes.
Are you sure awareness is the only reason?
- I think there must be... - I don't think so.
- Other challenges. - I don't think so.
- One... - This didn't spread in India like wildfire.
What is the real reason?
Pricing is a big reason.
Suppose you tell a farmer
it will take Rs. 1 crore to set up a 5,000 sq ft farm.
He will make his calculations.
It will take him 15 years to recover his investment.
As technology gets cheaper, more people are adopting this.
So, awareness is not the reason. High cost is the reason.
Tell us about your sales.
The Rs. 2.5 crores and 1.5 crores we made earlier.
- And you'll make Rs. 5 crores this year. - Yes.
Projected profit?
That will be 5%.
- Salaries are accounted for. - Yes.
What are your salaries?
and have farmlands back in the villages.
The land is idle and they wish to generate income from it.
They can deploy someone and make income from there.
This is the ideal customer base
we try to get the majority of conversions from.
I honestly have no expertise in this area.
I will go home,
I'll understand this and do my research
because I'm fascinated by this.
I'll understand it,
and when I gain some expertise in it,
then I would like to invest in it.
So, today, I'm out.
Who is in your team?
We are the two founders.
When we started, I had one more founder.
He isn't with us full-time now.
He helped us build the early-stage tech.
Does he hold a good equity?
He has settled in Europe.
He's making a good salary there.
What is his salary?
- He's making Rs. 12 to 13 lakhs a month. - Yes.
He will come on board only if he gets that salary.
Yes, no problem.
So, who is making the tech now?
Vikrant and I both.
How much can you do by yourself without a team?
You're doing projects too.
Sir, we need to raise funds and get a good CTO first.
We want to focus on team building for some time.
Why haven't you done it yet?
Getting a good tech person is a costly affair.
You know, I'm somewhat misaligned and I'll tell you why.
Your business is interesting.
If the yield does increase as you claimed
and it is good for farmers,
you also said it is healthier for human beings,
then it's a good business.
But because
yours is a services business and a project-based business,
getting that sense of predictability,
investing in this and working out the returns,
whereas the model of your scale remains unclear,
seems a little difficult.
So, I'm out for that reason.
I will say one thing. Happy to give you business.
I have a lot of land. As an experiment...
Sure, we got a client.
- We got a client. - What flex!
What flex!
- As an experiment, let's set up a farm. - Wow!
- Let's see what happens. - Sure.
- Yes, definitely. - Definitely, sir.
That's what it is. Its time hasn't come yet.
Maybe, after a few years,
this might become one of the big things.
It isn't now. It isn't trending.
I already knew about hydroponics.
They got to know right now.
The market isn't educated about it.
I'm glad you educated everyone through Shark Tank.
Unfortunately, I am out.
Look, I really liked the software.
If anyone is interested in hydroponics,
then very simple IoT plus software.
Incredible work that you're putting in.
The challenge is to speculate
if this category can be created or not,
which is almost impossible.
Your customers right now
are all dabblers
who can invest Rs. 20 to 50 lakhs
and take a bet.
This will take about 20 to 30 years to replace mainstream produce.
So as of now, this is not investable,
but very profitable.
So, congratulations on what you've built.
- Thank you. - I'm out.
- Thank you. - Thank you, ma'am.
I think this is a category-creation business.
I know this needs more work.
I like your passion.
- I feel there is a genuinity in what you're trying to do. - I agree.
I believe your business strategy could use some improvement.
- Sure, sir. - Yes.
I like the fact you are an engineer.
You and your co-founder have knowledge of technology.
So, there is scope to make good tech.
I think there's a possibility in this business
where you give a full-service model.
There is a long-term bet.
I'll make you an offer.
Rs. 75 lakhs, what you asked for, for 15% equity.
Along with it, I'll take 2% of your sales
That's my offer.
- If we could make a slight change. - Counter-offer.
How about Rs. 75 lakhs for 10% equity?
We are okay with the royalty.
This is not a typical investment model
where an investor joins you in three years.
This is a ten-year journey.
I thought long and hard and made you this offer
which makes sense because 15% equity is something which can get diluted.
You can still get an investor. No one will come now.
You have to literally see me as a third partner.
How about this?
We will close the deal with you, sir.
You will give us your farm.
- You will tell us when we should drop by your office. - Okay!
He'll surely be our customer.
[joyous music playing]
Bye... Thank you.
Very happy for you.
[music playing]