1 00:00:14,560 --> 00:00:16,520 [music playing] 2 00:00:24,360 --> 00:00:27,760 [music playing] 3 00:00:50,720 --> 00:00:52,400 - Let's tell you - Let's tell you 4 00:00:52,840 --> 00:00:55,640 - the story of our youth, Indi. - the story of our youth, Indi. 5 00:00:56,880 --> 00:00:58,840 It has a happy family. 6 00:00:58,920 --> 00:01:01,280 They celebrate every festival together. 7 00:01:01,360 --> 00:01:03,360 But when it comes to gifting, 8 00:01:03,440 --> 00:01:05,480 they get worried. 9 00:01:07,040 --> 00:01:11,120 There are 50 days out of 365 days a year 10 00:01:11,320 --> 00:01:14,880 where everyone waits for something other than cake and flowers. 11 00:01:15,000 --> 00:01:16,760 Need a good gift. 12 00:01:16,880 --> 00:01:19,560 This is everyone's problem, not just Indi's. 13 00:01:19,640 --> 00:01:22,000 And we've brought a solution for that. 14 00:01:29,600 --> 00:01:31,480 And the makers of these gifts. 15 00:01:31,560 --> 00:01:34,640 - We're from Jaipur, Rajasthan. - Oh! 16 00:01:34,720 --> 00:01:36,480 [music playing] 17 00:01:37,360 --> 00:01:39,640 Indigifts is new age India's gifting brand. 18 00:01:39,720 --> 00:01:41,000 Where we make 19 00:01:50,040 --> 00:01:54,360 If you see a Mummy Da Dhaba kitchen plate in your mom's kitchen 20 00:01:54,440 --> 00:01:57,280 then her face is lit. 21 00:01:58,360 --> 00:02:00,480 Plants that come out of seed rakhi, 22 00:02:00,560 --> 00:02:04,280 after wearing it, when it blooms, it brings a smile. 23 00:02:04,400 --> 00:02:06,800 And Aman, if Priya is angry 24 00:02:06,920 --> 00:02:08,440 then not just flowers, 25 00:02:08,560 --> 00:02:12,120 read Patni Chalisa from Indigifts and remember this hymn. 26 00:02:12,240 --> 00:02:15,160 Gift your wife what she wants. 27 00:02:15,280 --> 00:02:16,800 [music playing] 28 00:02:17,080 --> 00:02:20,240 After this, your happiness is our guarantee. 29 00:02:21,320 --> 00:02:24,680 Our journey started in 2017 in Jaipur. 30 00:02:57,360 --> 00:02:59,360 To every house in our country. 31 00:02:59,480 --> 00:03:00,680 Wow. 32 00:03:01,160 --> 00:03:04,840 Amazing! Nitin, Divya, welcome. 33 00:03:04,920 --> 00:03:06,640 - To Shark Tank Season 3. - Thank you. 34 00:03:06,720 --> 00:03:09,080 I think you're couplepreneur. 35 00:03:09,160 --> 00:03:10,080 - Yes. - You're married. 36 00:03:10,160 --> 00:03:10,840 Yes. 37 00:03:10,920 --> 00:03:14,040 So, who convinced whom for the business? What's the story? 38 00:03:14,320 --> 00:03:16,160 I joined the business a little later. 39 00:03:16,240 --> 00:03:19,520 But definitely, we have been together since it started. 40 00:03:20,600 --> 00:03:24,040 Before the wedding, he gave me many gifts to woo me. 41 00:03:24,120 --> 00:03:27,760 Post marriage, he's presenting Patni Chalisa. 42 00:03:27,960 --> 00:03:30,480 So, before the business started 43 00:03:30,560 --> 00:03:32,520 Nitin used to give you great gifts. 44 00:03:32,600 --> 00:03:34,360 I have more than 100 gifts 45 00:03:34,480 --> 00:03:36,120 during that span of 6 years. 46 00:03:36,200 --> 00:03:37,160 Wow! 47 00:03:37,240 --> 00:03:38,960 Let's edit this. 48 00:03:40,000 --> 00:03:41,800 No, say it again. 49 00:03:48,560 --> 00:03:50,760 I designed all the products. 50 00:03:50,840 --> 00:03:52,320 - What? - Well done. 51 00:03:54,240 --> 00:03:57,080 100 gifts? You mean 16 every year. 52 00:03:58,160 --> 00:03:59,560 You're very romantic. 53 00:03:59,640 --> 00:04:03,280 I made it because I felt for her 54 00:04:03,360 --> 00:04:06,080 and I wanted to make everything special. 55 00:05:08,240 --> 00:05:10,440 Will you make us cry now? 56 00:05:14,000 --> 00:05:15,000 I'll bring it. 57 00:05:27,160 --> 00:05:30,480 Handcrafted products with a storytelling approach 58 00:05:30,560 --> 00:05:31,720 is what is missing. 59 00:05:31,800 --> 00:05:33,480 [music playing] 60 00:05:33,560 --> 00:05:34,800 Well done. 61 00:05:38,760 --> 00:05:40,720 This is Mummy Da Dhaba. 62 00:05:40,800 --> 00:05:43,080 Wow, best. 63 00:05:46,560 --> 00:05:49,040 This is 'If Kar Na But Kar'. 64 00:05:49,120 --> 00:05:50,760 This has Patni Chalisa. 65 00:05:50,840 --> 00:05:54,680 Patni Chalisa? This is your Valentine's gift. 66 00:05:54,760 --> 00:05:55,560 Karwa Chauth. 67 00:05:55,680 --> 00:05:56,480 This is for Karwa Chauth. 68 00:05:56,560 --> 00:05:58,760 Patni Chalisa is written behind it. 69 00:05:58,960 --> 00:05:59,560 Oh. 70 00:05:59,640 --> 00:06:01,080 - Have you written it? - Patni Chalisa. 71 00:06:01,200 --> 00:06:03,560 - It is a work of his agony. - Oh. 72 00:06:04,160 --> 00:06:06,320 [music playing] 73 00:06:32,120 --> 00:06:34,800 Can you explain this? What is seed rakhi? 74 00:06:34,880 --> 00:06:37,000 Seed rakhi is our trademark. 75 00:06:37,600 --> 00:06:40,480 The major problem of rakhi is that after tying it, 76 00:06:40,600 --> 00:06:43,520 we tend to forget it somewhere within a day. 77 00:06:43,600 --> 00:06:45,000 - Yes. - It goes to the dump. 78 00:06:45,200 --> 00:06:48,840 We catered to that problem. These rakhis have seeds. 79 00:06:48,920 --> 00:06:52,120 - Okay. - If you accidentally drop it, 80 00:06:52,200 --> 00:06:54,720 or put it in a medium, 81 00:06:54,800 --> 00:06:56,040 a plant blossoms out of it. 82 00:07:17,680 --> 00:07:19,920 Is this your creativity, Nitin? 83 00:07:20,240 --> 00:07:23,360 So, I'm the creative person who manages the ideation. 84 00:07:23,440 --> 00:07:24,960 And Divya manages the execution. 85 00:07:25,040 --> 00:07:26,720 So, you manage the sales, Divya? 86 00:07:26,800 --> 00:07:28,920 The business' overall structural lead generation, 87 00:07:29,000 --> 00:07:32,360 defining the direction of work, I've made a framework for it. 88 00:07:32,480 --> 00:07:34,480 And Divya manages the operational part of it. 89 00:07:34,600 --> 00:07:38,000 And our strategic partners help us further. 90 00:07:38,080 --> 00:07:38,840 Like? 91 00:07:38,920 --> 00:07:40,960 Like e-trade or marketplaces, 92 00:07:41,040 --> 00:07:44,760 we have B2B tie-ups with them. 93 00:07:44,960 --> 00:07:47,560 So, we have to sell the price to them at transfer pricing 94 00:07:47,640 --> 00:07:48,840 and then they sell it. 95 00:07:50,080 --> 00:07:51,200 Let's talk about the business. 96 00:07:51,280 --> 00:07:55,280 Our lifetime revenue is around Rs 45 crores so far. 97 00:08:01,120 --> 00:08:03,440 I'm talking about the sales from 2017 to date. 98 00:08:03,520 --> 00:08:05,120 - Last year-- - Scaling so much 99 00:08:05,200 --> 00:08:06,800 in the gifting business is a big deal. 100 00:08:06,880 --> 00:08:07,960 Many congratulations. 101 00:08:08,040 --> 00:08:11,160 You got married and built a good business too. 102 00:08:13,440 --> 00:08:14,640 How much did you make last year? 103 00:08:14,720 --> 00:08:17,360 Last year's turnover is Rs 7.4 crores. 104 00:08:32,000 --> 00:08:34,120 As far as I know about gifting industry, 105 00:08:34,200 --> 00:08:36,520 it's big. Any idea how big it is? 106 00:08:36,600 --> 00:08:39,160 - It's worth Rs 2.5 lakh crores. - Massive. 107 00:08:44,200 --> 00:08:46,720 - And it's been 5-6 years. - Yes. 108 00:08:46,800 --> 00:08:50,440 So, why didn't you get past all of them? 109 00:08:50,520 --> 00:08:52,960 There's a Marwari mindset 110 00:08:53,040 --> 00:08:56,600 that we're making good money and life is good. 111 00:08:56,680 --> 00:09:01,080 But we realized that our knowledge. 112 00:09:01,400 --> 00:09:03,080 product processes, 113 00:09:03,160 --> 00:09:04,600 things that we've made, 114 00:09:04,720 --> 00:09:06,720 we need to focus on economies of scale. 115 00:09:23,960 --> 00:09:26,400 Tell me something. Is your business profitable? 116 00:09:26,480 --> 00:09:29,720 We've always run a profitable business. 117 00:09:29,800 --> 00:09:32,400 Last year, our EBITDA was 7.5 per cent. 118 00:09:46,600 --> 00:09:50,200 so the pace at which you be creative, 119 00:09:50,280 --> 00:09:52,920 - Yes. - is how your business will grow. 120 00:09:53,040 --> 00:09:55,920 But you need to churn it like a machine, as a science. 121 00:09:56,040 --> 00:09:57,760 Not that you have to get involved in it. 122 00:09:57,880 --> 00:09:59,280 - You must have a team. - Yes. 123 00:09:59,360 --> 00:10:01,680 They have to come up with a certain number of ideas, 124 00:10:01,800 --> 00:10:04,160 great ideas, every day. 125 00:10:04,240 --> 00:10:05,320 Like movie business. 126 00:10:05,440 --> 00:10:06,760 That is what is important. 127 00:11:10,960 --> 00:11:14,480 Since we're in this industry, we have set many processes. 128 00:11:14,560 --> 00:11:16,920 Our head office in Jaipur. 129 00:11:17,000 --> 00:11:19,840 We have built an office over 14,000 sq. ft. 130 00:11:24,840 --> 00:11:27,400 So, we research on varied forms, graphics, 131 00:11:27,480 --> 00:11:29,480 and utility of things. 132 00:11:29,600 --> 00:11:31,760 And we have an analytics team 133 00:11:31,840 --> 00:11:34,160 that researches on emotions and occasions 134 00:11:37,880 --> 00:11:42,160 And our business model has been developed into a funnel. 135 00:12:13,800 --> 00:12:15,520 If we talk about Rakhi, 136 00:12:15,600 --> 00:12:18,720 we've made the Rakhi but the sweets, 137 00:12:18,840 --> 00:12:20,480 chocolates, or dry fruits, 138 00:12:20,600 --> 00:12:22,680 we can include it in our package. 139 00:12:22,760 --> 00:12:24,480 And increase the average order value. 140 00:13:01,960 --> 00:13:04,480 How many SKUs do you have? 141 00:13:04,560 --> 00:13:07,440 We have around 5000 active products. 142 00:13:07,560 --> 00:13:10,080 What's the sales online and offline? 143 00:13:10,160 --> 00:13:13,760 We're starting offline sales this quarter. 144 00:13:35,120 --> 00:13:36,560 So, it's a bootstrapped business. 145 00:13:42,000 --> 00:13:45,400 If you get a wrong investor, it will be bad for you. 146 00:13:47,800 --> 00:13:49,920 Why do you want investments? 147 00:13:50,000 --> 00:13:51,920 Firstly, within 5 years, 148 00:13:52,000 --> 00:13:53,480 we have made it from 0 to 10. 149 00:13:53,560 --> 00:13:55,200 To make it from 10 to 100, 150 00:13:55,280 --> 00:13:58,160 it can't invest another 10-15 years. 151 00:13:58,320 --> 00:14:01,440 Because our processes, products, our four Ps are sorted. 152 00:14:01,520 --> 00:14:05,000 Secondly, we want to expand into omnichannel 153 00:14:05,080 --> 00:14:07,440 despite having a lot of data, R&D, 154 00:14:07,520 --> 00:14:09,320 very creative and unique products. 155 00:14:09,400 --> 00:14:11,760 The technology layer is missing. 156 00:14:31,600 --> 00:14:33,760 And the most important aspect, 157 00:14:33,840 --> 00:14:38,040 if want to get into customizations, it's not manually possible. 158 00:14:38,120 --> 00:14:40,440 So, we have to introduce automation. 159 00:14:40,680 --> 00:14:42,960 [music playing] 160 00:14:43,080 --> 00:14:46,120 Give us an idea of the pricing. What's this Samosa for? 161 00:14:46,200 --> 00:14:49,920 So, our average cushion is around 12 by 12 inches. 162 00:14:50,040 --> 00:14:52,560 - It's priced at around Rs 299. - Wow. 163 00:14:56,960 --> 00:15:00,000 Is it like people search for Indigifts... 164 00:15:00,120 --> 00:15:02,000 We want to create a gifting brand. 165 00:15:02,120 --> 00:15:04,160 If we wanted to do job work, then we would've been a 166 00:15:04,240 --> 00:15:06,120 - manufacturing or service company. - What's your gross margin? 167 00:15:06,200 --> 00:15:08,600 75 per cent gross margin. 168 00:15:14,640 --> 00:15:17,200 Yes, we have created a formula 169 00:15:17,280 --> 00:15:19,320 - that we won't venture below that. - Amazing. 170 00:15:38,920 --> 00:15:39,840 Okay, I've decided. 171 00:15:39,960 --> 00:15:42,120 I think you guys are great founders for sure. 172 00:15:42,200 --> 00:15:43,320 - Thank you, Peyush. - A business worth Rs 10 crores 173 00:15:43,400 --> 00:15:46,080 without any funding. The creativity is very high. 174 00:15:46,360 --> 00:15:47,840 And humility is also very high. 175 00:15:47,920 --> 00:15:50,400 It's a very execution-heavy business. 176 00:15:50,480 --> 00:15:52,520 If you want to make it big, the competition is high. 177 00:15:52,600 --> 00:15:54,160 I'm out for now. 178 00:15:54,240 --> 00:15:57,120 Create a team, raise some funds. 179 00:15:57,240 --> 00:15:58,640 Then we should meet again. 180 00:15:58,760 --> 00:15:59,880 But best of luck. 181 00:16:00,000 --> 00:16:01,440 - Thank you, Peyush. - Thank you. 182 00:16:03,160 --> 00:16:05,120 The market is highly competitive. 183 00:16:05,200 --> 00:16:08,440 - Yes. - And most of these things 184 00:16:08,520 --> 00:16:10,320 are sold as commodities. 185 00:16:10,400 --> 00:16:12,960 I've never seen it being sold as a brand. 186 00:16:13,040 --> 00:16:15,240 - It's a commodity. - That's why we made the brand. 187 00:16:15,320 --> 00:16:17,080 There was no brand for Rakhi before that. 188 00:16:17,160 --> 00:16:20,160 Absolutely agreed. And that's why I will make an offer. 189 00:16:20,240 --> 00:16:21,560 Wow. 190 00:16:22,840 --> 00:16:25,760 - Rs 25 lakhs in equity. - Yes. 191 00:16:25,840 --> 00:16:27,160 For 2 per cent. 192 00:16:27,240 --> 00:16:30,080 Plus Rs 25 lakhs in debt. 193 00:16:40,400 --> 00:16:43,640 it's difficult to raise funds in this business. 194 00:16:43,720 --> 00:16:45,800 The risk is very high. 195 00:16:45,880 --> 00:16:47,960 I added that premium to the valuation. 196 00:16:48,040 --> 00:16:50,400 We would like to hear from others as well. 197 00:16:51,680 --> 00:16:53,720 I had made an offer. 198 00:16:55,760 --> 00:16:57,560 But that offer is worse than hers. 199 00:16:58,080 --> 00:16:59,520 So, take her offer. 200 00:16:59,600 --> 00:17:01,840 Because I don't want to get into that fight. 201 00:17:04,560 --> 00:17:05,640 Thank you for making me, 202 00:17:05,760 --> 00:17:07,600 and millions of people like me 203 00:17:08,280 --> 00:17:09,920 look like an idiot. 204 00:17:10,560 --> 00:17:12,480 By giving 100 gifts to your wife. 205 00:17:22,040 --> 00:17:23,200 I can guarantee that 206 00:17:23,280 --> 00:17:26,520 my company and I will surely procure gifts from you. 207 00:17:26,640 --> 00:17:29,400 - Thank you, Sir. - So, all the best. I'm out. 208 00:17:30,200 --> 00:17:31,320 Okay. 209 00:17:31,960 --> 00:17:35,080 Your story is fascinating. You have built a great business. 210 00:17:35,160 --> 00:17:36,280 From a smaller city, 211 00:17:36,400 --> 00:17:39,520 it's a great opportunity to build a big gifting business. 212 00:17:39,640 --> 00:17:41,360 Because you will be able to relate 213 00:17:41,440 --> 00:17:43,320 to the expectations of large masses. 214 00:17:43,400 --> 00:17:46,920 So, I'd like to ask Vineeta if she wants to do it together. 215 00:17:47,040 --> 00:17:49,560 I'm willing to equally split this deal with you. 216 00:17:49,680 --> 00:17:51,200 Let's remove the debt. 217 00:17:51,280 --> 00:17:52,520 And let's make a joint deal. 218 00:17:52,640 --> 00:17:56,320 - Okay. We can do equity. - So, Rs 25 lakhs each for 2% each. 219 00:18:05,280 --> 00:18:08,040 Nitin, Divya, I love you guys. 220 00:18:08,160 --> 00:18:10,320 Sometimes, meeting people makes you happy. 221 00:18:11,080 --> 00:18:13,000 - You bring that. - Thank you. 222 00:18:13,080 --> 00:18:15,440 Right? But I'll tell you something 223 00:18:15,600 --> 00:18:17,320 - about the gifting industry. - Yes. 224 00:18:17,400 --> 00:18:21,640 Gifting industry doesn't have 2-3 players 225 00:18:21,720 --> 00:18:24,640 but every company is a gifting business. 226 00:18:24,720 --> 00:18:28,280 Whether it's Titan, boAt, Lenskart, Sugar, 227 00:18:28,400 --> 00:18:30,360 Bikanervala, or OYO. 228 00:18:30,440 --> 00:18:32,480 - Except Shaadi.com. - Be it Cadbury. 229 00:18:32,560 --> 00:18:34,200 Shaadi.com vouchers are gifted too. 230 00:18:34,280 --> 00:18:36,320 - Really? - From Shaadi.com. 231 00:18:36,520 --> 00:18:38,800 So, you're not competing with 2-3 players. 232 00:18:38,920 --> 00:18:41,480 During the season, you're competing with everyone. 233 00:18:41,560 --> 00:18:42,200 Yes. 234 00:18:42,280 --> 00:18:46,680 So, I think this business can be scaled to a level, 235 00:18:46,760 --> 00:18:48,320 creating cash profit 236 00:18:48,400 --> 00:18:50,600 and you know, you guys should bootstrap and 237 00:18:50,680 --> 00:18:53,360 grow it up to a certain level and enjoy that cashflow. 238 00:18:53,440 --> 00:18:54,920 But if you still feel 239 00:18:55,000 --> 00:18:56,840 that you need guidance 240 00:18:56,920 --> 00:18:58,840 then this is a great offer, you should take it. 241 00:18:58,920 --> 00:19:00,240 For that reason, I'm out. 242 00:19:00,360 --> 00:19:01,440 - Thank you. - Good luck once again. 243 00:19:01,520 --> 00:19:02,440 Love you guys. 244 00:19:04,680 --> 00:19:05,800 So please tell us quickly. 245 00:19:05,880 --> 00:19:08,040 We have a counter-offer for you. 246 00:19:08,120 --> 00:19:09,960 No, don't even give it. 247 00:19:12,040 --> 00:19:14,280 Really. It's a rich valuation. 248 00:19:14,360 --> 00:19:17,240 It's a bootstrapped company. It's the first funding. 249 00:19:17,320 --> 00:19:20,560 Yes or no. I'll suggest you say yes. You won't regret it. 250 00:19:25,760 --> 00:19:26,920 - Sharks, deal is done. - Deal is done. 251 00:19:44,680 --> 00:19:47,120 - Guys, bye! - Bye. Thank you. 252 00:21:05,480 --> 00:21:07,920 [music playing] 253 00:21:18,000 --> 00:21:19,240 and it's a big deal. 254 00:21:19,320 --> 00:21:21,520 So, very good purpose-driven brand. 255 00:21:21,600 --> 00:21:23,520 - I'd like to make you an offer. - [cheering] 256 00:21:23,600 --> 00:21:25,520 [hollering] Wow! 257 00:21:25,600 --> 00:21:27,200 I can't wait 258 00:21:27,560 --> 00:21:31,600 to make this a big Pan-India and global brand. 259 00:21:31,720 --> 00:21:34,080 Everyone said that it's CSR. 260 00:21:34,160 --> 00:21:35,360 It won't mint money. 261 00:21:35,440 --> 00:21:38,480 And I took a bet on the founders. 262 00:21:39,360 --> 00:21:42,520 When they pitched, they were in four stores. 263 00:21:42,600 --> 00:21:45,360 Today, they're in 50 stores. 264 00:21:45,440 --> 00:21:48,240 It just shows that it can be scaled. 265 00:21:48,360 --> 00:21:51,520 And listen, scale not just with sales growth. 266 00:21:51,640 --> 00:21:53,600 This is one of those rare companies 267 00:21:53,680 --> 00:21:55,760 that is PAT positive. 268 00:22:19,720 --> 00:22:21,160 The response was great. 269 00:22:21,240 --> 00:22:24,160 So, it will be continued till 270 00:22:24,240 --> 00:22:26,360 she, us, and Rare Planet exist. 271 00:22:26,480 --> 00:22:29,160 We can't call it an exit. We're starting a new journey. 272 00:22:29,240 --> 00:22:31,000 In terms of achieving bigger things. 273 00:22:31,120 --> 00:22:34,160 This story is a big victory 274 00:22:34,240 --> 00:22:35,680 for Shark Tank India. 275 00:22:35,760 --> 00:22:38,160 It's a big victory for all the Sharks. 276 00:22:38,240 --> 00:22:40,960 It's a big victory for all the artisans. 277 00:22:41,040 --> 00:22:42,320 We really feel proud. 278 00:22:42,400 --> 00:22:44,680 That today, even our clay 279 00:22:44,760 --> 00:22:49,080 is at par with China's ceramics in terms of earnings. 280 00:22:51,840 --> 00:22:53,840 [music playing] 281 00:23:01,240 --> 00:23:02,400 [laughing] 282 00:24:29,360 --> 00:24:31,680 FuelV by Alien Versions. 283 00:24:34,040 --> 00:24:37,640 FuelV is India's first smart fuel cap 284 00:24:37,720 --> 00:24:41,360 that can easily replace your two and four-wheeler's fuel cap 285 00:24:41,440 --> 00:24:44,640 within 20 seconds. 286 00:24:55,280 --> 00:24:57,360 if they have received the desired amount of petrol 287 00:25:08,560 --> 00:25:10,920 to solve such problems. 288 00:25:11,000 --> 00:25:13,800 We're asking for Rs 50 lakhs for 5 per cent equity. 289 00:25:33,040 --> 00:25:34,560 - And you? - Sir, I'm 18. 290 00:25:34,640 --> 00:25:36,160 I'll turn 19 on 11th October. 291 00:25:36,240 --> 00:25:37,600 Wow! 292 00:25:38,000 --> 00:25:39,200 How did you two meet? 293 00:25:39,280 --> 00:25:41,560 I started the company. 294 00:25:41,720 --> 00:25:44,480 I left my house when I was starting it. 295 00:25:44,560 --> 00:25:45,720 When was that? 296 00:25:45,800 --> 00:25:47,440 - Two years ago. - Why? 297 00:25:49,960 --> 00:25:51,680 The college I studied in 298 00:25:51,880 --> 00:25:54,880 was kind of a reputed college in the Northeast. 299 00:25:56,360 --> 00:26:00,240 My parents and I were both positive that I would land a job. 300 00:26:00,320 --> 00:26:02,200 My parents asked me to do a job. 301 00:26:02,360 --> 00:26:05,000 Since childhood, I've tried to convince my parents 302 00:26:05,080 --> 00:26:06,600 that I wanted to do something of my own. 303 00:26:06,680 --> 00:26:08,600 - I have tried many things in life. - Okay. 304 00:26:08,720 --> 00:26:12,160 When it was time for me to decide between that and family, 305 00:26:12,280 --> 00:26:13,680 then I had to leave my home. 306 00:26:13,760 --> 00:26:15,800 - Did you complete college? - No. 307 00:26:16,560 --> 00:26:19,240 Had I completed college, I'd be forced to take up a job. 308 00:26:19,360 --> 00:26:21,640 - And my family was really pushing me. - Okay. 309 00:26:21,800 --> 00:26:24,800 So, I left home and went to Dehradun. 310 00:26:24,880 --> 00:26:27,280 I was an innovator since childhood. 311 00:26:27,440 --> 00:26:30,200 I have another innovation apart from this, 312 00:26:30,320 --> 00:26:32,200 but I discontinued it as I didn't see the business. 313 00:26:32,280 --> 00:26:33,520 What had you invented? 314 00:26:33,640 --> 00:26:36,520 I invented a box which was a black box 315 00:26:36,600 --> 00:26:40,600 for commercial two and four-wheelers. 316 00:26:40,680 --> 00:26:42,280 How did you meet each other? 317 00:26:42,360 --> 00:26:44,960 I worked on this for a year. 318 00:26:45,040 --> 00:26:47,480 During its development, 319 00:26:47,600 --> 00:26:50,720 I was working at Innovation Hub, Dehradun. 320 00:26:50,840 --> 00:26:51,680 Okay. 321 00:26:52,400 --> 00:26:53,840 So, he came one day 322 00:26:53,920 --> 00:26:58,640 and that was when we realised that we had similar interests. 323 00:26:58,800 --> 00:27:01,800 I did not take him on board at that time though. 324 00:27:02,120 --> 00:27:04,680 I observed whether he had the qualities 325 00:27:04,760 --> 00:27:06,320 - and if he could... - [Sharks laugh] 326 00:27:07,320 --> 00:27:08,840 - That's the fact. - Yes. 327 00:27:08,920 --> 00:27:12,400 Did he have any qualities? Can he bring something to the table? 328 00:27:12,480 --> 00:27:14,040 - Was he even interested? - Yes. 329 00:27:14,160 --> 00:27:16,200 Gradually, we became friends. 330 00:27:16,280 --> 00:27:19,360 When I explained it to him, he showed interest. 331 00:27:19,480 --> 00:27:21,760 He pitched in towards the workload and financials. 332 00:27:21,840 --> 00:27:23,880 Then, we made this together. 333 00:27:23,960 --> 00:27:27,320 Siddharth, where did you study or are you still studying? 334 00:27:32,200 --> 00:27:35,280 - From here? - Yes. You can do it online as well as offline. 335 00:27:35,360 --> 00:27:37,440 - You'll get a degree. - Yes, sir. I will. 336 00:27:38,280 --> 00:27:40,120 What do your parents do? 337 00:27:40,200 --> 00:27:43,000 The last I remember, my parents were farmers. 338 00:27:43,080 --> 00:27:44,720 - Last... As in? - Two years ago... 339 00:27:44,800 --> 00:27:47,120 - Are you not in touch with them? - No. 340 00:27:48,600 --> 00:27:49,960 You must be talking on the phone. 341 00:27:50,040 --> 00:27:51,360 We do not. 342 00:27:51,440 --> 00:27:53,320 You haven't spoken since college. 343 00:27:53,400 --> 00:27:55,680 Just one time when I left home. 344 00:27:55,760 --> 00:27:57,480 They were worried. 345 00:27:57,880 --> 00:28:02,080 So, I called them up and said, "Give me three years." 346 00:28:02,200 --> 00:28:03,840 "I'll try everything I can." 347 00:28:03,960 --> 00:28:05,680 "If nothing works out, I'll come home." 348 00:28:06,960 --> 00:28:08,560 They said, "Okay, do it." 349 00:28:08,640 --> 00:28:10,360 Do they know you're in Dehradun? 350 00:28:10,600 --> 00:28:12,400 I have no idea if they know or not. 351 00:28:12,600 --> 00:28:14,600 Why didn't you call them? 352 00:28:14,680 --> 00:28:17,320 It's because I had set a goal for myself 353 00:28:17,440 --> 00:28:20,160 that I would go home only after I achieved something. 354 00:28:20,320 --> 00:28:22,680 If I go back home without achieving my goal, 355 00:28:22,760 --> 00:28:24,040 that wouldn't be nice. 356 00:28:24,120 --> 00:28:26,640 Don't go home, but what's the harm in calling them? 357 00:29:09,480 --> 00:29:12,280 It is not that I don't want to, I really do. 358 00:29:12,520 --> 00:29:14,680 It's just that I don't know how to open up. 359 00:29:14,760 --> 00:29:16,520 - You have siblings? A brother? - Yes. 360 00:29:16,600 --> 00:29:18,800 - I have... - Can you not do it through them? 361 00:29:18,880 --> 00:29:20,520 - [chuckles] - I could try doing that... 362 00:29:20,600 --> 00:29:22,880 - Okay. - Their numbers have changed in two years. 363 00:29:24,640 --> 00:29:28,480 I could do that through Instagram, but I've gone off Instagram too. 364 00:29:28,560 --> 00:29:29,960 You're not making sense. 365 00:29:38,040 --> 00:29:40,400 I look at the person first and the business later. 366 00:29:40,560 --> 00:29:41,760 I don't get you at all. 367 00:29:41,920 --> 00:29:43,680 If you... I'm out. 368 00:29:43,760 --> 00:29:45,640 I don't understand you. 369 00:29:47,000 --> 00:29:50,000 They must be worried sick and might be looking for you. 370 00:29:50,120 --> 00:29:51,360 Please think about them. 371 00:29:51,440 --> 00:29:54,240 Please go and talk to them and apologise. 372 00:29:54,360 --> 00:29:55,880 This business is your goal. 373 00:29:56,040 --> 00:29:57,120 Attain it, 374 00:29:57,240 --> 00:29:59,840 but please establish contact with them by any means. 375 00:29:59,960 --> 00:30:01,360 - Sure. - Let them know you're fine 376 00:30:01,440 --> 00:30:02,920 and you're working. That's it. 377 00:30:35,680 --> 00:30:37,360 - What's your background? - You're out. 378 00:30:37,440 --> 00:30:39,560 - Why the entire pitch now... - Yes. 379 00:30:40,040 --> 00:30:41,400 - What's your background? - You're out, right? 380 00:30:41,520 --> 00:30:43,200 - What do you do? - Are you out or in? 381 00:30:43,560 --> 00:30:46,240 - No. I understood the poor guy's problem. - I see. 382 00:30:48,400 --> 00:30:50,320 Both my parents are professors. 383 00:30:50,400 --> 00:30:53,120 - Do you live with your family or not? - Yes, I do. 384 00:30:53,240 --> 00:30:54,840 What's your contribution? 385 00:30:54,960 --> 00:30:57,560 Arranging for the sensors and the materials 386 00:30:57,640 --> 00:31:00,280 to develop the circuits. I do all of that. 387 00:31:00,360 --> 00:31:02,520 You... Are you the CEO? 388 00:31:02,600 --> 00:31:03,400 - Yes. - Yes. 389 00:31:24,360 --> 00:31:28,800 Suppose this is x amount of petrol that you got from the fuel station. 390 00:31:29,120 --> 00:31:31,320 Let me pour the petrol into this. 391 00:31:32,880 --> 00:31:35,080 If I take off this tape, 392 00:31:35,160 --> 00:31:38,800 then you can see that this is around 400 ml. 393 00:31:39,040 --> 00:31:42,080 FuelV will validate this reading. 394 00:31:42,160 --> 00:31:44,520 - Suppose this is the fuel tank. - Hmm. 395 00:31:44,600 --> 00:31:47,360 You have to screw this on like a normal fuel cap. 396 00:31:47,440 --> 00:31:50,840 Let's assume this is the nozzle of the fuel pipe. 397 00:31:50,920 --> 00:31:53,080 This is at a distance of 2.5 mm. 398 00:31:53,200 --> 00:31:55,240 First, let us connect to the app. 399 00:32:08,680 --> 00:32:11,240 You see 00 here as well as over there. 400 00:32:19,000 --> 00:32:20,520 Let me pour this fuel. 401 00:32:21,360 --> 00:32:24,680 You guys can see the reflection on that TV. 402 00:32:27,040 --> 00:32:27,880 There it is. 403 00:32:27,960 --> 00:32:29,920 - It is slightly more. - It was slightly more, 404 00:32:30,000 --> 00:32:31,240 that's why the reading is slightly higher. 405 00:32:31,320 --> 00:32:33,920 - Could you show us this on the scooter with that inlet? - Yes. 406 00:32:34,000 --> 00:32:36,800 - No one else has made this yet. - No, sir. 407 00:32:36,880 --> 00:32:39,720 You see these pin-like notches. We have them on this too. 408 00:32:39,800 --> 00:32:41,560 You just have to put it like this. 409 00:32:41,640 --> 00:32:43,960 - This replaces the cap. - Yes, totally. 410 00:32:44,040 --> 00:32:45,800 The battery needs to be charged though. 411 00:32:45,920 --> 00:32:48,200 The battery life is 12 days. 412 00:33:34,160 --> 00:33:35,320 What's the price? 413 00:33:35,400 --> 00:33:36,400 Rs. 3,000. 414 00:33:37,120 --> 00:33:38,520 Do you sell it on your website? 415 00:33:46,600 --> 00:33:48,880 in 30 to 40% of the cases, 416 00:33:49,000 --> 00:33:52,520 car users suffer on account of short-fuelling of petrol. 417 00:33:52,600 --> 00:33:54,680 Why don't car manufacturers provide this 418 00:33:54,760 --> 00:33:57,200 in at least the high-end cars? 419 00:33:58,360 --> 00:33:59,400 Why just high-end? 420 00:33:59,480 --> 00:34:01,680 It costs very little, all the cars should have it. 421 00:34:02,560 --> 00:34:03,840 We did research it, 422 00:34:03,920 --> 00:34:06,200 but we do not know why car manufacturers... 423 00:34:06,320 --> 00:34:09,480 Perhaps, because your number of 30 to 40% is incorrect. 424 00:34:09,880 --> 00:34:11,840 What she mentioned used to happen earlier. 425 00:34:11,960 --> 00:34:15,160 The new machines approved by the government 426 00:34:15,240 --> 00:34:17,240 have very few chances of scamming. 427 00:34:17,960 --> 00:34:20,120 The car industry is regulated. 428 00:34:20,320 --> 00:34:21,920 If the government passes a mandate 429 00:34:22,000 --> 00:34:25,440 making fuel caps or rather, fuel meters mandatory, 430 00:34:25,560 --> 00:34:28,320 have you thought about what would happen to your business? 431 00:34:34,680 --> 00:34:36,440 We want to be the first player in the game. 432 00:34:36,520 --> 00:34:39,240 - Let me check the box. - Where did you get money to make the device? 433 00:34:39,320 --> 00:34:40,920 I do not have any source of income. 434 00:34:41,040 --> 00:34:43,760 I came to Dehradun with very little money. 435 00:34:44,040 --> 00:34:46,480 So, I participate in competitions. 436 00:34:46,600 --> 00:34:49,720 If I am lucky, sometimes I make Rs. 7,000 437 00:34:49,840 --> 00:34:52,720 - or... - Could you clarify if these are entrepreneurship competitions? 438 00:34:52,800 --> 00:34:56,200 They are entrepreneurship as well as innovative competitions. 439 00:34:56,280 --> 00:34:58,360 How much have you won in competitions in total? 440 00:35:06,400 --> 00:35:08,880 - You must have accommodation and food expenses, right? - Yes. 441 00:35:08,960 --> 00:35:13,120 When I spent a year working on the device and the business, 442 00:35:13,200 --> 00:35:14,760 that was the hardest thing. 443 00:35:14,840 --> 00:35:18,040 During that time, I was running a coaching class 444 00:35:18,160 --> 00:35:19,760 and also, teaching in a school. 445 00:35:20,440 --> 00:35:21,960 What is your monthly expenditure? 446 00:35:22,080 --> 00:35:24,840 The rent for the room in Dehradun was Rs. 3,500. 447 00:35:24,920 --> 00:35:26,080 Is it still the same? 448 00:35:26,200 --> 00:35:29,600 We bought an office in Arunachal now together. 449 00:35:29,720 --> 00:35:31,560 - You've gone to Arunachal Pradesh! - Yes. 450 00:35:32,160 --> 00:35:34,720 - You're in Itanagar now and not Dehradun! - Yes. 451 00:35:34,800 --> 00:35:35,880 Why did you go there? 452 00:35:36,000 --> 00:35:37,840 We had to set up an office. 453 00:35:37,920 --> 00:35:39,720 We have to take everything seriously. 454 00:35:42,120 --> 00:35:43,400 Did you move to Itanagar too? 455 00:35:43,480 --> 00:35:44,640 No! I... 456 00:35:44,760 --> 00:35:46,440 - I stay here. Yes. - Remote working. 457 00:35:46,520 --> 00:35:48,000 Your family is in Itanagar. 458 00:35:48,080 --> 00:35:48,960 Yes, that's right. 459 00:35:49,040 --> 00:35:51,240 - You haven't told them you're in Itanagar. - No. 460 00:35:51,320 --> 00:35:52,880 Did you move to Itanagar 461 00:35:52,960 --> 00:35:55,640 because you got funds from the Arunachal Pradesh government? 462 00:35:56,240 --> 00:35:58,800 Um. Not exactly. I did get some funds 463 00:35:58,880 --> 00:36:00,200 - but that's not why I'm back. - What? 464 00:36:00,280 --> 00:36:02,000 - Hang on. Let Siddharth answer. - Wait. 465 00:36:02,080 --> 00:36:04,880 I feel you're talking in riddles and giving deceptive answers. 466 00:36:04,960 --> 00:36:06,080 Tell us, Siddharth. 467 00:36:07,360 --> 00:36:09,400 First, tell us where the money comes from 468 00:36:09,480 --> 00:36:11,800 followed by why you went to Itanagar. 469 00:36:11,880 --> 00:36:14,520 Actually, I'm a big fan of Warren Buffett. 470 00:36:14,640 --> 00:36:16,800 I started a SIP 471 00:36:16,880 --> 00:36:19,200 and a demat account when I was a child in my mom's name. 472 00:36:19,320 --> 00:36:22,840 I had about Rs. 20 to 25 lakhs saved up. 473 00:36:22,920 --> 00:36:23,920 - So, I... - What! 474 00:36:24,800 --> 00:36:27,080 And you invested all the money into this business. 475 00:36:27,240 --> 00:36:28,880 - Not all of it... - How much? 476 00:36:28,960 --> 00:36:30,280 Around Rs. 3 to 4 lakhs. 477 00:36:34,760 --> 00:36:36,720 Why did you move to Itanagar? 478 00:36:36,800 --> 00:36:40,640 Every state has a Science And Technology Council. 479 00:36:40,760 --> 00:36:43,160 The Science And Technology Council in Itanagar 480 00:36:43,240 --> 00:36:45,280 recognised our innovation 481 00:36:45,360 --> 00:36:47,960 and they gave us some initial funds to develop it. 482 00:36:48,080 --> 00:36:49,240 How much was it? 483 00:36:49,320 --> 00:36:51,200 They gave us Rs. 50,000 to 60,000. 484 00:36:51,320 --> 00:36:54,960 The maximum funds we got were Rs. 95,000 to 1 lakh. 485 00:36:55,040 --> 00:36:56,720 Ha Tade, what's your view? 486 00:36:56,840 --> 00:36:59,240 Why did you go back to Itanagar from Dehradun? 487 00:37:00,240 --> 00:37:02,120 We wanted to set up an office. 488 00:37:11,720 --> 00:37:13,480 We were in Arunachal. 489 00:37:13,560 --> 00:37:15,600 I had good connections in Arunachal. 490 00:37:15,680 --> 00:37:18,560 Your parents don't know you're in Itanagar, Arunachal, right now. 491 00:37:18,640 --> 00:37:20,640 They might, but I don't know. 492 00:37:20,760 --> 00:37:24,160 Look, I believe you like being dramatic. 493 00:37:25,080 --> 00:37:28,760 Life does not run on drama, but on lessons. 494 00:37:29,960 --> 00:37:33,560 You built a great innovation and you're working hard. 495 00:37:33,640 --> 00:37:36,440 Go low on the drama or the reality gets lost. 496 00:37:37,800 --> 00:37:41,440 You guys are still a little cute, right. 497 00:37:41,760 --> 00:37:42,760 I thought as much. 498 00:37:42,840 --> 00:37:44,040 [Sharks laugh] 499 00:37:48,320 --> 00:37:51,720 I think you're yet to see the world. 500 00:37:52,640 --> 00:37:55,480 My suggestion would be that you work somewhere for a year or two 501 00:37:55,640 --> 00:37:58,160 and learn the ways of the world. 502 00:38:05,240 --> 00:38:06,760 - I am out. - Yes, sir. 503 00:38:07,480 --> 00:38:11,480 Some co-founder relationships are like arranged marriages. 504 00:38:11,640 --> 00:38:12,840 You meet up, 505 00:38:12,960 --> 00:38:15,480 evaluate one another and then work together. 506 00:38:16,280 --> 00:38:20,080 I believe your co-founder relationship won't last. 507 00:38:20,880 --> 00:38:23,440 I see a trust deficit. 508 00:38:23,560 --> 00:38:26,200 When you say something, it is evident from his expression 509 00:38:26,280 --> 00:38:28,320 that you're lying, telling the truth or faking it. 510 00:38:28,400 --> 00:38:32,120 Your numbers weren't right. The 30 to 40% statistics. 511 00:38:32,760 --> 00:38:33,840 The product is good. 512 00:38:33,920 --> 00:38:36,800 You don't just invest in the product but in the founders too. 513 00:38:36,960 --> 00:38:38,000 - I am out. - Okay. 514 00:38:39,240 --> 00:38:41,680 At first, I thought I understood what you were doing. 515 00:38:41,760 --> 00:38:44,680 The product is good. The demo was nice. 516 00:38:44,800 --> 00:38:46,000 Everything was going just fine. 517 00:38:46,080 --> 00:38:48,440 It felt like I should help you. 518 00:38:49,240 --> 00:38:51,760 Somewhere, I found myself confused. 519 00:38:52,600 --> 00:38:54,320 There are so many dimensions to it 520 00:38:54,400 --> 00:38:56,680 that I don't understand anything at this stage. 521 00:38:56,800 --> 00:38:57,840 I am out. 522 00:38:59,960 --> 00:39:01,320 I believe 523 00:39:01,400 --> 00:39:05,120 that if your personal life has a lot of ups and downs, 524 00:39:05,360 --> 00:39:09,440 then it is bound to impact your professional life. 525 00:39:11,120 --> 00:39:14,520 You need to invest time in your personal life at the moment 526 00:39:14,600 --> 00:39:15,640 and fix it. 527 00:39:16,600 --> 00:39:20,520 If you cannot convince your family, how will you convince others? 528 00:39:21,720 --> 00:39:24,080 Look. I want to help young entrepreneurs 529 00:39:24,160 --> 00:39:26,520 but your business is not in that situation at the moment. 530 00:39:26,600 --> 00:39:28,320 I am out for now. Thank you. 531 00:39:28,480 --> 00:39:29,520 Thank you so much, sir. 532 00:39:29,720 --> 00:39:32,120 This is good thinking in terms of innovation. 533 00:39:32,280 --> 00:39:34,440 You identified an existing problem, 534 00:39:34,560 --> 00:39:37,120 worked on it and found a solution, 535 00:39:37,680 --> 00:39:38,920 but this is not defensible. 536 00:39:39,680 --> 00:39:42,320 Going forward, either cars will instal this 537 00:39:42,440 --> 00:39:44,840 or petrol pumps will put an end to their malpractices. 538 00:39:45,720 --> 00:39:48,160 This isn't sustainable, right, as a business. 539 00:39:49,320 --> 00:39:51,960 This is why I am out. 540 00:39:53,080 --> 00:39:55,480 Today, all the Sharks are out. 541 00:39:56,000 --> 00:39:57,600 Do not be disappointed. 542 00:40:04,640 --> 00:40:06,480 - Thank you so much, sir. - All the best. 543 00:40:06,560 --> 00:40:07,800 - Go home and make that call. - Thank you. 544 00:40:07,880 --> 00:40:08,760 Yes, sir. 545 00:40:15,080 --> 00:40:16,280 [music playing] 546 00:40:20,120 --> 00:40:21,240 [theme music playing] 547 00:40:44,360 --> 00:40:45,840 [theme music fades] 548 00:40:46,880 --> 00:40:49,040 Sharks, when I was little, 549 00:40:49,160 --> 00:40:51,200 my grandpa used to give me this one chocolate. 550 00:40:51,840 --> 00:40:54,480 When I grew up, Dad would get me the same chocolate. 551 00:40:54,600 --> 00:40:56,000 My brother also gifted me 552 00:40:56,080 --> 00:40:58,200 the same chocolate for Raksha Bandhan. 553 00:40:58,320 --> 00:41:00,080 I have such rotten luck, Sharks! 554 00:41:00,160 --> 00:41:03,040 My boyfriend also gave me the same chocolate! 555 00:41:03,280 --> 00:41:06,360 Enough! I'm sick of eating that chocolate. 556 00:41:06,440 --> 00:41:08,040 Worry not, baby! 557 00:41:08,360 --> 00:41:09,560 [rock music playing] 558 00:41:11,680 --> 00:41:12,960 I'm here. 559 00:41:13,440 --> 00:41:14,760 - Gosh! - Oh, my. 560 00:41:17,120 --> 00:41:18,520 When Roccá Man is here, 561 00:41:20,920 --> 00:41:22,320 then why fear? 562 00:41:22,480 --> 00:41:23,360 [laughs] 563 00:41:24,520 --> 00:41:25,600 [laughs] 564 00:42:02,880 --> 00:42:04,600 to make Roccá India's biggest 565 00:42:04,680 --> 00:42:07,360 and best-tasting premium chocolate brand 566 00:42:07,440 --> 00:42:09,160 that will rule the world. 567 00:42:22,960 --> 00:42:24,000 Can we taste them? 568 00:42:24,080 --> 00:42:25,840 - Sure. - Absolutely. 569 00:42:26,000 --> 00:42:27,600 It won't take time since it's chocolate. 570 00:42:27,680 --> 00:42:28,520 Yes. 571 00:42:33,040 --> 00:42:34,240 - May I take this? - Yes. 572 00:42:34,320 --> 00:42:36,520 - To see the pricing. Thank you. - This is a pack of one. 573 00:42:36,600 --> 00:42:37,640 Does this have almonds? 574 00:42:37,720 --> 00:42:40,080 They all do except Pistachio. 575 00:42:40,200 --> 00:42:41,240 I don't like almonds. 576 00:42:41,360 --> 00:42:42,520 - This doesn't contain it. - No. 577 00:42:42,600 --> 00:42:43,520 Thank you. 578 00:42:46,320 --> 00:42:47,840 - Sonal. - Yes? 579 00:42:47,960 --> 00:42:49,920 - I like it. - Thank you. 580 00:42:50,000 --> 00:42:52,320 I'll let you know how it is the day this opens. 581 00:42:52,600 --> 00:42:53,840 All of it is dark chocolate? 582 00:42:53,960 --> 00:42:54,920 - Yes. - They all are. 583 00:43:01,760 --> 00:43:02,640 Well done. 584 00:43:03,240 --> 00:43:04,200 Nice. 585 00:43:04,560 --> 00:43:08,480 The Coffee is yum because I don't prefer too sweet. 586 00:43:27,280 --> 00:43:29,560 How do you know each other and... 587 00:43:29,640 --> 00:43:30,520 I'll answer that. 588 00:43:30,840 --> 00:43:33,680 In 2016, Sonal and I were studying in the same college 589 00:43:33,880 --> 00:43:36,560 in the Management department, MBA. 590 00:43:36,640 --> 00:43:38,840 Coincidentally, I used to be late. 591 00:43:38,960 --> 00:43:40,720 And coincidentally, Sonal was late on the same day. 592 00:43:40,800 --> 00:43:41,880 We bumped into each other at the canteen. 593 00:43:41,960 --> 00:43:43,880 - Bollywood... Bollywood movie! - [laughter] 594 00:43:44,040 --> 00:43:44,920 Sonal was a fresher. 595 00:43:45,000 --> 00:43:46,440 It was her first year. I was in my second year. 596 00:43:46,520 --> 00:43:48,320 I was an executive member of the student committee. 597 00:43:48,400 --> 00:43:49,320 We became friends. 598 00:43:49,440 --> 00:43:51,120 After three years, in 2019, 599 00:43:51,200 --> 00:43:54,240 we had the idea to start Roccá. 600 00:43:54,320 --> 00:43:56,120 Be honest. Were you pursuing her? 601 00:43:57,120 --> 00:43:59,480 - We are just good friends. - Yes. 602 00:43:59,640 --> 00:44:01,480 Their parents are watching the show. 603 00:44:01,560 --> 00:44:03,160 Don't ask such questions. 604 00:44:03,280 --> 00:44:05,120 All right, it's your personal matter. 605 00:44:05,280 --> 00:44:08,560 - What's your age? - I'm 26 and she will turn 24 soon. 606 00:44:08,640 --> 00:44:09,440 Okay. 607 00:44:09,520 --> 00:44:10,840 Sonal came up to me. 608 00:44:11,200 --> 00:44:13,320 "It was your birthday. So, I went to buy you chocolates." 609 00:44:13,400 --> 00:44:17,080 There was Cadbury and Amul with a cap of Rs. 100 to 120. 610 00:44:17,280 --> 00:44:19,360 Then there was Lindt, Ghirardelli and Ferrero Rocher 611 00:44:19,440 --> 00:44:21,320 costing above Rs. 800 in Nagpur. 612 00:44:21,760 --> 00:44:23,360 There was no premium Indian chocolate brand 613 00:44:23,440 --> 00:44:27,040 in the range of Rs. 300 to 500 offering something unique. 614 00:44:27,440 --> 00:44:28,480 We took our books and pens. 615 00:44:28,560 --> 00:44:30,760 Sonal sat in some bakery. I sat in a supermarket. 616 00:44:30,840 --> 00:44:32,240 We annoyed so many people. 617 00:44:32,320 --> 00:44:33,520 "Why did you pick this chocolate?" 618 00:44:33,600 --> 00:44:34,920 - Well done. - "Why Lindt?" 619 00:44:35,080 --> 00:44:36,200 "Why did you pick x company?" 620 00:44:36,280 --> 00:44:37,560 We got loads of insight. 621 00:44:37,680 --> 00:44:40,800 Did you get insight or a whack to let people eat in peace? 622 00:44:40,880 --> 00:44:43,040 Sonal is an amazing cook. 623 00:44:43,120 --> 00:44:44,960 She's one of the best... Not one of them, 624 00:44:45,040 --> 00:44:47,120 - she's the best cook I ever came across. - Wow. 625 00:44:47,200 --> 00:44:48,400 Mummy is watching. 626 00:44:48,480 --> 00:44:50,120 She has been cooking for you since you were a child. 627 00:44:50,200 --> 00:44:51,320 First Mom and then Sonal. 628 00:44:51,440 --> 00:44:53,040 Okay. Good courage. 629 00:44:53,360 --> 00:44:55,960 I had faith in her that she would crack the product 630 00:44:56,040 --> 00:44:57,120 and she did. 631 00:44:57,200 --> 00:44:58,880 Then we had our customised mould made. 632 00:44:58,960 --> 00:45:01,440 - There are no factories in Nagpur that make moulds. - Hmm. 633 00:45:01,520 --> 00:45:03,600 We used the machine used to make Metro Silicon Moulds, 634 00:45:03,680 --> 00:45:06,160 cleaned the machine overnight 635 00:45:06,240 --> 00:45:08,440 and made food-grade silicon moulds. 636 00:45:08,520 --> 00:45:09,320 Oh, wow! 637 00:45:09,400 --> 00:45:13,280 - Then we borrowed money from home and bought a small machine. - Hmm. 638 00:45:13,360 --> 00:45:15,240 - Then we started this. - Amazing. 639 00:45:15,320 --> 00:45:17,000 We didn't have this product back then. 640 00:45:17,160 --> 00:45:19,320 We had a dark Belgian chocolate bar back then. 641 00:45:19,400 --> 00:45:21,760 Let me tell you a nice insight we received. 642 00:45:21,880 --> 00:45:24,080 "It's imported chocolate so it must be expensive." 643 00:45:24,160 --> 00:45:27,280 That was the best thing. I answered, "just turn it around. We make it. 644 00:45:27,360 --> 00:45:28,760 It's manufactured in our city." 645 00:45:29,920 --> 00:45:31,160 Do you have the chocolate bar now? 646 00:45:31,240 --> 00:45:33,320 - We discontinued the chocolate bar. - All right. 647 00:45:33,400 --> 00:45:35,960 We took a loan before Covid. 648 00:45:36,120 --> 00:45:38,280 We decided to build a small factory. 649 00:45:47,720 --> 00:45:50,400 The bank levied an overdue on us and we borrowed money from the market. 650 00:45:50,480 --> 00:45:52,280 We started the factory somehow 651 00:45:52,360 --> 00:45:54,560 but we made the mistake of opening it on the third floor. 652 00:45:54,640 --> 00:45:59,520 We had to use a crane to install the machine and also broke the gate. 653 00:45:59,720 --> 00:46:02,760 - One of the machines fell from 15 feet. - Goodness! 654 00:46:02,840 --> 00:46:04,160 We could never use that machine. 655 00:46:04,240 --> 00:46:06,720 We were depressed 656 00:46:06,800 --> 00:46:09,160 as it was already March and summer was around the corner. 657 00:46:09,280 --> 00:46:11,400 It was a factory made of tin and due to the heat, 658 00:46:11,480 --> 00:46:12,880 it became as hot as an oven. 659 00:46:12,960 --> 00:46:15,640 Our Shrink Rolls used to shrink even without using a machine. 660 00:46:15,720 --> 00:46:18,080 Our workers used to faint 661 00:46:18,160 --> 00:46:21,040 and I always felt dizzy because of extreme heat. 662 00:46:21,160 --> 00:46:22,400 - Oh my God. - So we decided... 663 00:46:22,480 --> 00:46:24,120 Finally, we realised that we must move out. 664 00:46:24,200 --> 00:46:25,400 We had to move out. 665 00:46:25,480 --> 00:46:28,760 We relaunched our brand. Rocca came into the market for the first time. 666 00:46:29,440 --> 00:46:31,640 How did you get the motivation 667 00:46:31,720 --> 00:46:33,040 to get back to launching the brand? 668 00:46:38,640 --> 00:46:40,800 You could have left it and taken up a job. 669 00:46:40,920 --> 00:46:42,560 I didn't want to do a job. 670 00:46:42,640 --> 00:46:45,040 I had many dreams and I had convinced my parents. 671 00:46:45,160 --> 00:46:47,720 She convinced her parents at an entirely different level. 672 00:46:47,800 --> 00:46:49,560 It would have been impossible to back off. 673 00:46:49,680 --> 00:46:52,480 The most important thing is he kept on fighting. 674 00:46:52,560 --> 00:46:55,840 - If you keep fighting, you'll surely get results. - Yes. 675 00:46:55,960 --> 00:46:59,440 There was news about The Whole Truth Foods and other such companies. 676 00:46:59,520 --> 00:47:01,040 "People are showing interest 677 00:47:01,120 --> 00:47:02,160 in chocolate brands in the D2C segment." 678 00:47:02,240 --> 00:47:05,360 So we decided to take a chance as we felt we had a winning product. 679 00:47:06,000 --> 00:47:08,640 We sent cold emails in bulk. 680 00:47:08,920 --> 00:47:11,040 That's how our journey of fundraising began. 681 00:47:11,160 --> 00:47:12,400 How much money did you raise and when? 682 00:47:12,480 --> 00:47:15,720 Our round closed last year and we received the money in November. 683 00:47:16,000 --> 00:47:17,400 - Mr Sanjay Mehta. - Yes. 684 00:47:17,480 --> 00:47:18,680 You must be aware of him. 685 00:47:18,920 --> 00:47:21,080 - He was one of our early investors. - Yes. 686 00:47:21,160 --> 00:47:22,400 How much did he give you? What was the valuation? 687 00:47:44,160 --> 00:47:46,000 I manage product manufacturing, packaging, 688 00:47:46,080 --> 00:47:48,240 and also the new launches. 689 00:47:48,320 --> 00:47:50,400 Rocca Man, what do you do? 690 00:47:50,560 --> 00:47:53,480 I look after the technical aspects, like the website and other things. 691 00:47:53,560 --> 00:47:56,120 However, nobody can beat her in design. She designs everything. 692 00:47:56,240 --> 00:47:57,760 - You heap praises on her. - Branding... 693 00:47:57,840 --> 00:47:59,560 [laughing] 694 00:47:59,680 --> 00:48:00,960 She did the branding. 695 00:48:01,080 --> 00:48:03,440 She is the best cook, she does the best branding 696 00:48:03,520 --> 00:48:05,680 and everything is fine but I won't tell Mom. 697 00:48:07,840 --> 00:48:09,000 Please tell us about your sales. 698 00:48:09,080 --> 00:48:11,600 We did Rs. 9.55 lakhs last month in August. 699 00:48:30,120 --> 00:48:31,720 What about your sales in previous years? 700 00:48:31,800 --> 00:48:34,400 In July'23, we made sales worth Rs. 7.75 lakhs. 701 00:48:40,240 --> 00:48:42,760 has more than 50 chocolate brands 702 00:48:42,840 --> 00:48:46,920 that make sales worth Rs. 15-Rs. 20 lakhs in India in the D2C segment. 703 00:48:47,280 --> 00:48:50,320 You are an MBA graduate so how do you plan to break out 704 00:48:50,520 --> 00:48:54,200 of the barrier of Rs. 15-Rs. 20 lakhs? 705 00:48:54,320 --> 00:48:57,200 - It couldn't be broken by 99% of businesses. - Yes. 706 00:48:57,280 --> 00:48:59,760 - Anupam, is it true? - Yes, I agree. It's true. 707 00:48:59,880 --> 00:49:01,520 First of all, the product. 708 00:49:01,640 --> 00:49:05,440 Our channel Meta and the marketplaces help in tasting. 709 00:49:05,520 --> 00:49:09,880 We make ads in Meta which are visually appealing. 710 00:49:09,960 --> 00:49:12,480 The customer should click the website and order it. 711 00:49:12,560 --> 00:49:13,600 So we can make a proper brand. 712 00:49:13,680 --> 00:49:15,720 Yash, the question is 713 00:49:15,800 --> 00:49:19,000 "What is your uniqueness which you think 714 00:49:19,080 --> 00:49:21,480 can help you beat the competition?" 715 00:49:21,560 --> 00:49:24,360 Our uniqueness is the taste and the indulgence factor. 716 00:49:24,440 --> 00:49:26,440 Those who eat once will eat it again. 717 00:49:26,560 --> 00:49:28,600 Our tagline is, "you just can't stop at one." 718 00:49:28,680 --> 00:49:31,200 First of all, it's not your tagline. 719 00:49:32,080 --> 00:49:34,720 "No one can eat just one" is Lay's tagline 720 00:49:34,800 --> 00:49:36,520 - and you adapted it. - We are inspired. Yes. 721 00:49:36,600 --> 00:49:39,240 I still didn't get the answer to my question. 722 00:49:39,320 --> 00:49:41,760 Why is there resistance after doing Rs. 20 lakhs per month? 723 00:49:41,840 --> 00:49:46,440 Brands want to target a particular customer segment as a niche. 724 00:49:46,560 --> 00:49:49,240 Our niche is the entire India. 725 00:49:49,320 --> 00:49:51,240 Our branding is such 726 00:49:51,320 --> 00:49:54,800 that it targets children as well as the aged. 727 00:49:54,920 --> 00:49:57,480 Rocca is best for snacking, for gifting, 728 00:49:57,560 --> 00:49:59,680 and Rocca is best for self-consumption. 729 00:49:59,760 --> 00:50:01,640 Didn't other chocolate brands do it till now? 730 00:50:01,720 --> 00:50:04,480 Your answers reflect 731 00:50:04,640 --> 00:50:07,000 that you don't have clarity. 732 00:50:07,080 --> 00:50:09,160 [tense music plays] 733 00:50:09,240 --> 00:50:10,920 Let's break down your industry. Okay? 734 00:50:11,720 --> 00:50:14,000 Tell me the size of the Indian chocolate industry. 735 00:50:22,040 --> 00:50:26,120 All the famous brands including Cadbury Dairy Milk 736 00:50:26,200 --> 00:50:29,600 and M&M's are foreign chocolate brands. Right? 737 00:50:29,720 --> 00:50:32,360 Their share must be the largest in the market. How much is it? 738 00:50:32,440 --> 00:50:33,280 It's more than 80%. 739 00:50:33,360 --> 00:50:37,200 "80%." Let's subtract it. Suppose around 500 million market remains. 740 00:50:37,320 --> 00:50:40,400 - In India. - India. So it'll be around Rs. 4,000 crores. 741 00:50:40,520 --> 00:50:42,480 How is the Rs. 4,000 crore market 742 00:50:42,560 --> 00:50:47,000 divided between kids and adults? 743 00:50:47,360 --> 00:50:50,720 - I don't have a precise number. I'm sorry. - Maybe you can guess. 744 00:50:51,800 --> 00:50:53,800 - It must be fifty-fifty. - Let's suppose it's fifty-fifty. 745 00:50:53,920 --> 00:50:57,480 You said your products are liked by every age group including children. 746 00:50:57,560 --> 00:51:00,240 However, kids, we'll prove it here, 747 00:51:00,320 --> 00:51:02,160 don't like eating nuts. 748 00:51:02,240 --> 00:51:04,520 Generally speaking. They like plain chocolates. 749 00:51:04,640 --> 00:51:08,000 So you are playing in the Rs. 2,000 crore market. Right? 750 00:51:08,120 --> 00:51:09,800 It's meant for adults. 751 00:51:09,880 --> 00:51:13,400 I don't agree as they'll convert customers from Silk chocolates. 752 00:51:13,480 --> 00:51:15,720 The market owned by international brands 753 00:51:15,840 --> 00:51:17,640 will gradually be taken over by Indian brands. 754 00:51:17,720 --> 00:51:19,520 But there's a huge gap in the price point. 755 00:51:19,600 --> 00:51:20,440 You have the same price point, right? 756 00:51:20,520 --> 00:51:22,680 Is your price point the same as Silk Chocolates'? 757 00:51:40,480 --> 00:51:42,120 How big a brand is Silk? 758 00:51:42,200 --> 00:51:45,200 Cadbury holds 60% of the market. 759 00:51:55,280 --> 00:51:59,960 your market size will reduce substantially. 760 00:52:08,160 --> 00:52:09,280 Are you better at booting off? 761 00:52:09,360 --> 00:52:10,920 Or are you better at marketing? 762 00:52:11,000 --> 00:52:14,000 What gives you an edge over others? 763 00:52:14,080 --> 00:52:16,720 So our current gross margin 764 00:52:24,040 --> 00:52:27,120 The average gross margin of the food industry is 60%. 765 00:52:27,400 --> 00:52:28,720 - Yes. - Theirs is the same. 766 00:52:28,800 --> 00:52:30,440 He claims he can scale it up to 75%. 767 00:52:31,240 --> 00:52:34,120 What do you think will help you in increasing it from 58% to 75%? 768 00:52:34,200 --> 00:52:36,560 It can increase by procuring a high volume. 769 00:52:36,680 --> 00:52:40,160 Right now, we buy almonds weighing hardly 400-500 kg. 770 00:52:40,360 --> 00:52:42,160 The day we procure it in tonnes, 771 00:52:42,280 --> 00:52:43,640 the rates will reduce drastically. 772 00:52:43,720 --> 00:52:46,280 The same goes for packaging and printing. It's expensive right now. 773 00:52:46,360 --> 00:52:48,080 As per the last month's sales, 774 00:52:56,760 --> 00:52:59,280 60% of expenditure comprises 775 00:52:59,360 --> 00:53:03,480 our overall ads which is more than 30% of our revenue. 776 00:53:03,600 --> 00:53:04,880 - You spend Rs. 2 lakhs per month. - You spend 30% on marketing. 777 00:53:04,960 --> 00:53:06,720 - It's not Rs. 2 lakhs. - Your sales are Rs. 10 lakhs, right? 778 00:53:06,840 --> 00:53:09,720 - Rs. 3 lakhs. - Our sales are worth Rs. 9.55 lakhs. Rs. 3 lakhs. 779 00:53:10,320 --> 00:53:15,040 Our shipping logistics cost around Rs. 1.17 lakhs last month. 780 00:53:15,120 --> 00:53:17,920 - So it's 12%. - We take it as 15%. 781 00:53:18,040 --> 00:53:19,560 - 15%. Okay. - Yes. 782 00:53:19,640 --> 00:53:23,040 Guys, it seems to be one of the best brands 783 00:53:23,160 --> 00:53:25,440 I have ever seen. 784 00:53:26,880 --> 00:53:28,440 Today, I'm out 785 00:53:29,320 --> 00:53:30,920 because this game is not limited to a few crores. 786 00:53:31,000 --> 00:53:33,000 Boss, you need Rs. 40-Rs. 50 crores at least. 787 00:53:33,080 --> 00:53:35,200 Companies like Ogilvy advertise for Cadbury. 788 00:53:38,080 --> 00:53:39,880 Their advertising budget is Rs. 50 crores. 789 00:53:39,960 --> 00:53:44,800 So you must understand. Your strategy will be the key 790 00:53:44,920 --> 00:53:47,040 and also, having good team members. 791 00:53:47,840 --> 00:53:48,720 Yes. 792 00:53:49,280 --> 00:53:52,000 My grandfather used to say, "spend money but don't waste it." 793 00:53:58,240 --> 00:54:00,480 I think this box costing Rs. 50, 794 00:54:00,560 --> 00:54:02,400 won't sell much in India. 795 00:54:04,000 --> 00:54:04,920 I'm out. 796 00:54:05,000 --> 00:54:06,720 - Thank you. - Okay. Thank you so much. 797 00:54:07,080 --> 00:54:08,320 I have two questions. 798 00:54:12,200 --> 00:54:13,080 Gifting... Yes. 799 00:54:13,160 --> 00:54:16,400 The exact share of Ferrero in the gifting sector 800 00:54:16,520 --> 00:54:18,720 is something I don't know. 801 00:54:19,840 --> 00:54:23,640 The last time I researched, it was more than Rs. 300 crore business. 802 00:54:23,720 --> 00:54:26,680 How much chocolate is sold on Amazon 803 00:54:26,760 --> 00:54:28,200 and online marketplaces? 804 00:54:28,320 --> 00:54:30,120 - The sale is massive. - What do you mean? 805 00:54:30,200 --> 00:54:31,840 - Yes. I mean... - [Anupam chuckling] 806 00:54:31,920 --> 00:54:35,440 You don't know the exact figures. Please know the exact numbers. 807 00:54:37,200 --> 00:54:39,120 I'm excited to know 808 00:54:39,200 --> 00:54:43,840 that you are forging ahead to make an Indian chocolate brand. 809 00:54:43,920 --> 00:54:47,520 However, your marketing, positioning, and your product 810 00:54:47,720 --> 00:54:51,760 don't stand out to help you become a big chocolate company. 811 00:54:51,840 --> 00:54:53,960 So if you get a large amount of investor's money, 812 00:54:54,040 --> 00:54:56,120 it'd be difficult for you to return. 813 00:54:56,200 --> 00:54:59,480 Your biggest hurdle is the innumerable local brands. 814 00:54:59,560 --> 00:55:03,440 It's impossible to count the number of artisanal, nut-based 815 00:55:03,560 --> 00:55:06,000 chocolate companies in this industry. 816 00:55:06,120 --> 00:55:07,840 For that reason, I'm out. Good luck. 817 00:55:08,000 --> 00:55:09,040 - Thank you! - Thank you. 818 00:55:09,120 --> 00:55:12,800 You couldn't share the exact figure of your online market. 819 00:55:13,800 --> 00:55:15,320 I think it's far too low. 820 00:55:15,400 --> 00:55:17,120 Even now, chocolates are mostly sold 821 00:55:17,200 --> 00:55:20,440 through general trade or gifting, up to 95%. 822 00:55:20,520 --> 00:55:23,920 The online market is small because it's a low-ticket item. 823 00:55:24,040 --> 00:55:27,040 Building an online business with a low-ticket item is difficult 824 00:55:27,120 --> 00:55:30,640 because one needs to sell a large number of units to maintain AOV. 825 00:55:31,120 --> 00:55:34,640 However, your branding, packaging, taste, 826 00:55:34,760 --> 00:55:37,240 and entrepreneurship is phenomenal. 827 00:55:37,320 --> 00:55:39,360 So good luck. I'm out. 828 00:55:40,600 --> 00:55:41,680 You two have a fighting spirit. 829 00:55:41,760 --> 00:55:45,280 You remind me of the days when I started out. 830 00:55:45,360 --> 00:55:47,560 Borrow money from the market at an interest 831 00:55:47,640 --> 00:55:49,080 when you have no access to capital. 832 00:55:49,160 --> 00:55:51,800 I think one must bet on individuals 833 00:55:52,040 --> 00:55:53,440 and not the business because individuals 834 00:55:53,520 --> 00:55:55,680 build a business and you two will figure out 835 00:55:55,760 --> 00:55:58,120 a way to create a successful enterprise. 836 00:55:58,360 --> 00:56:00,640 Rs. 15-Rs. 20 lakh cap is a challenge for you 837 00:56:00,720 --> 00:56:03,160 - and you are close to it as you're making Rs. 9-Rs. 10 lakhs. - Yes. 838 00:56:03,240 --> 00:56:05,400 I think I can help you. 839 00:56:05,480 --> 00:56:07,480 I'll help you position against Cadbury 840 00:56:07,560 --> 00:56:10,240 in a mass premium segment 841 00:56:10,320 --> 00:56:13,440 but at the same time, you must reduce your price. 842 00:56:13,520 --> 00:56:17,080 It could be the supply chain or other systems to create value. 843 00:56:18,840 --> 00:56:20,440 So I'll give you an offer. 844 00:56:20,520 --> 00:56:22,480 - Thank you. - I'm offering Rs. 30 lakhs 845 00:56:23,360 --> 00:56:25,800 at the valuation of your current round. 846 00:56:25,880 --> 00:56:27,680 It means for 2.5% equity. 847 00:56:27,760 --> 00:56:29,440 I'll give you Rs. 30 lakhs in debt. 848 00:56:29,560 --> 00:56:31,440 Whenever you need that money, 849 00:56:31,520 --> 00:56:35,120 write to me, "please send the money within 24 hours." 850 00:56:35,200 --> 00:56:36,400 I'll send you the money right away. 851 00:56:36,520 --> 00:56:37,920 Your interest will start that day. 852 00:56:38,000 --> 00:56:39,720 Please ask for an email. 853 00:56:39,800 --> 00:56:42,320 He'll write the email address on the back of the cheque. 854 00:56:42,960 --> 00:56:44,240 It's for a 3-year term 855 00:56:58,800 --> 00:57:01,040 - Sir, now... - It's a big opportunity but now... 856 00:57:01,360 --> 00:57:03,360 My friend, collect the cheque 857 00:57:03,440 --> 00:57:06,400 and exit in a flying pose like Rocca Man. 858 00:57:06,480 --> 00:57:08,240 - Of course. - Yes! 859 00:57:08,320 --> 00:57:10,280 - Thank you so much. - We'll serve chocolate to the entire nation. 860 00:57:10,360 --> 00:57:12,200 - Sure. - Rocca Man's chocolate. 861 00:57:12,360 --> 00:57:14,040 - Thank you so much. - Many congratulations, Yash. 862 00:57:14,120 --> 00:57:15,320 - Many congratulations to you. - Thank you so much. 863 00:57:15,400 --> 00:57:16,720 - Please continue growing. - Yes. 864 00:57:16,800 --> 00:57:18,160 - Thank you. - [photo clicking] 865 00:57:19,480 --> 00:57:21,800 - Thank you! Thank you! - Woo-hoo! 866 00:57:22,080 --> 00:57:23,000 Rocca Man out! 867 00:57:23,080 --> 00:57:24,160 [laughing] 868 00:57:24,240 --> 00:57:25,640 - Great. - Let's go. 869 01:01:38,240 --> 01:01:40,840 [water whooshing] 870 01:01:41,320 --> 01:01:43,760 Friends, welcome to the Ask The Shark segment. 871 01:01:43,880 --> 01:01:48,640 You all ask interesting questions and you help us learn from Sharks. 872 01:01:48,760 --> 01:01:49,920 Today, we have with us, 873 01:01:50,000 --> 01:01:52,880 the CEO and co-founder of Lenskart, Mr Peyush Bansal. Sir, welcome. 874 01:01:52,960 --> 01:01:54,840 - Thanks, Rahul. - Sir, is our sofa comfortable enough? 875 01:01:54,920 --> 01:01:56,040 Yes, it feels great. 876 01:01:56,120 --> 01:01:58,880 You look great as you are wearing a pair of Lenskart glasses. 877 01:01:59,400 --> 01:02:01,000 Lenskart helped me look handsome. 878 01:02:01,120 --> 01:02:04,680 Sir, your fan Indra Prakash Purohit...