1 00:00:10,080 --> 00:00:11,600 [suspenseful music playing] 2 00:00:15,960 --> 00:00:17,880 [thrilling music playing] 3 00:00:31,760 --> 00:00:34,120 These are LED displays! 4 00:00:34,280 --> 00:00:36,200 - Ah! The one you have at home. - Ah! Nice! 5 00:00:36,840 --> 00:00:38,400 - The one she has... - 'Neon Attack!' 6 00:00:38,480 --> 00:00:40,480 Oh! I have this at my house. 7 00:00:40,560 --> 00:00:42,760 You know, it's not a good thing to have at your house 8 00:00:42,840 --> 00:00:45,920 because these are identified with certain places in the world. 9 00:00:46,200 --> 00:00:48,000 Don't kill the vibe at my house! 10 00:00:48,120 --> 00:00:49,320 [laughing] 11 00:00:49,520 --> 00:00:51,600 [theme music playing] 12 00:01:00,720 --> 00:01:02,200 [theme music builds up] 13 00:01:18,000 --> 00:01:18,960 Hello, Sharks. 14 00:01:19,120 --> 00:01:21,880 I waited all my life for the Almighty's sign 15 00:01:22,080 --> 00:01:24,880 just like you all. 16 00:01:26,280 --> 00:01:27,680 - Whoa! - [laughing] 17 00:01:27,840 --> 00:01:28,800 Then we realised 18 00:01:28,960 --> 00:01:31,120 that we get signs from God 19 00:01:31,200 --> 00:01:32,680 but we fail to understand them. 20 00:01:33,920 --> 00:01:34,720 Wow! 21 00:01:34,840 --> 00:01:35,960 God, that's enough. 22 00:01:36,040 --> 00:01:37,880 We got the point. It has become too much now. 23 00:01:38,080 --> 00:01:41,800 We got an idea in the same way in a flash. 24 00:01:41,880 --> 00:01:44,240 "Let's charge with the help of these signs." 25 00:01:44,800 --> 00:01:46,320 - Don't be scared. - Wow! 26 00:01:46,440 --> 00:01:48,800 - Beautiful. - Lovely! Lovely! 27 00:01:48,880 --> 00:01:52,480 Sharks, you are now officially neon attacked. 28 00:01:52,920 --> 00:01:54,000 Nice. 29 00:02:09,040 --> 00:02:10,520 [ethereal music playing] 30 00:02:10,960 --> 00:02:13,600 We make premium-quality LED neon signs 31 00:02:20,400 --> 00:02:23,280 the logo of your startup or a couple's wedding hashtag. 32 00:02:23,440 --> 00:02:25,160 Just share your idea with us 33 00:02:25,280 --> 00:02:27,080 and we'll turn it into a neon sign. 34 00:02:28,120 --> 00:02:29,720 You can customise anything 35 00:02:29,840 --> 00:02:31,760 on Neon Attack's website. 36 00:02:36,800 --> 00:02:38,360 [intriguing music plays] 37 00:02:39,000 --> 00:02:40,920 But, Sharks, if choosing just one colour 38 00:02:41,040 --> 00:02:44,040 is too much commitment for you, we have FloRo. 39 00:02:46,000 --> 00:02:48,480 It changes colours faster than my ex. 40 00:02:48,600 --> 00:02:50,200 [laughing] 41 00:02:54,880 --> 00:02:57,280 All our products can be installed within two minutes. 42 00:02:57,400 --> 00:02:59,440 They use 80% less power 43 00:03:20,560 --> 00:03:23,760 So, Sharks, to fulfil our vision, our ask is 44 00:03:24,000 --> 00:03:27,000 Rs. 75 lakhs for 3% equity in our company. 45 00:03:32,480 --> 00:03:33,880 - Woo-hoo! - [laughing] 46 00:03:34,280 --> 00:03:35,160 'Deal Pakki Hai'. 47 00:03:35,240 --> 00:03:36,440 What's your age? 48 00:03:36,560 --> 00:03:39,280 - We are siblings. - All right. 49 00:03:39,840 --> 00:03:41,680 - I'm 25 years old. - I'm 27. 50 00:03:42,520 --> 00:03:43,320 Very nice. 51 00:03:43,440 --> 00:03:47,000 Such signs are also available in the local markets of different cities. 52 00:03:47,560 --> 00:03:49,440 - Yes. - How are you different? 53 00:03:49,600 --> 00:03:51,560 We have three core USPs. 54 00:03:51,680 --> 00:03:54,840 Our product quality and the materials we use 55 00:03:55,080 --> 00:03:58,080 help our lights last three times longer than traditional neon signs. 56 00:04:02,880 --> 00:04:04,160 It isn't unique. 57 00:04:05,920 --> 00:04:08,840 You said it uses 80% less power. 58 00:04:08,920 --> 00:04:12,400 Let him answer. Let him... Let him finish answering. 59 00:04:12,480 --> 00:04:14,280 Why didn't he start with that? 60 00:04:14,400 --> 00:04:15,800 Both the lights are the same, Namita. 61 00:04:15,880 --> 00:04:17,320 Let him answer. 62 00:04:17,440 --> 00:04:18,360 Let him... [chuckling] 63 00:04:18,480 --> 00:04:20,600 - I was helping you. - Thank you. 64 00:04:21,080 --> 00:04:22,880 The traditional neon signs 65 00:04:23,000 --> 00:04:25,560 were used in the 1980's which ran on gas. 66 00:04:26,600 --> 00:04:28,720 Those kinds of neon signs 67 00:04:28,800 --> 00:04:30,760 are going through a transition 68 00:04:30,960 --> 00:04:32,560 from gas to LED. 69 00:04:33,120 --> 00:04:35,520 - We can get LED signs at local shops. - Yes. 70 00:04:35,600 --> 00:04:37,600 They do sell but the quality varies. 71 00:04:37,680 --> 00:04:39,960 Hardik and Kartik, it's just tomfoolery. 72 00:04:41,760 --> 00:04:45,840 It isn't a dress that I'd worry about its quality. 73 00:04:45,920 --> 00:04:47,120 [suspenseful music playing] 74 00:04:47,920 --> 00:04:50,200 It's just a neon sign made by thousands of people. 75 00:04:50,320 --> 00:04:52,160 - It's not just available locally. - Right. 76 00:04:52,280 --> 00:04:53,400 It's available online as well. 77 00:04:53,480 --> 00:04:54,720 I agree it's a business. 78 00:04:54,840 --> 00:04:56,200 Selling 'paan' is also a business. 79 00:04:56,320 --> 00:04:58,280 What makes it an investible business? 80 00:04:58,360 --> 00:05:01,880 Does it have a characteristic to build a moat 81 00:05:08,920 --> 00:05:11,000 We launched FloRo as our speciality. 82 00:05:11,200 --> 00:05:13,480 FloRo isn't available in the entire world. 83 00:05:13,560 --> 00:05:15,920 We built the entire hardware and software. 84 00:05:47,080 --> 00:05:48,880 They treat all the customers the same. 85 00:05:50,200 --> 00:05:52,360 LED signs already have 86 00:05:52,520 --> 00:05:54,840 light-changing technology. We get LED screens 87 00:05:55,200 --> 00:05:56,520 - which can be used as television. - Yes. 88 00:05:56,600 --> 00:05:58,520 It uses the same technology. 89 00:05:58,640 --> 00:06:00,760 It's not particularly for neon signs 90 00:06:00,840 --> 00:06:02,760 because you need to control it with a smartphone. 91 00:06:02,840 --> 00:06:03,640 If there is a single light... 92 00:06:03,720 --> 00:06:05,800 - Do you have a patented technology? - No. 93 00:06:56,920 --> 00:06:58,640 I understood about your product 94 00:06:58,760 --> 00:07:02,080 but it's important for me to know about your customer. Please tell us. 95 00:07:02,520 --> 00:07:05,880 - Yes. We have divided our customers into three segments. - Okay. 96 00:07:34,920 --> 00:07:36,560 - Is it rented out to event planners? - No. 97 00:07:36,640 --> 00:07:38,320 Event planners need to buy these 98 00:07:38,440 --> 00:07:41,360 but after they buy them, they can use a sign like "better together" 99 00:07:41,480 --> 00:07:44,600 - in other weddings too. - I got it. 100 00:07:44,600 --> 00:07:48,000 In case couples buy a hashtag sign, 101 00:07:48,120 --> 00:07:49,800 they can display it at their wedding or event 102 00:07:49,880 --> 00:07:51,400 and they can also display it inside their house, 103 00:07:51,480 --> 00:07:53,360 - living room or bedroom. - Or the next wedding. 104 00:07:53,640 --> 00:07:54,800 [chuckling] 105 00:07:57,040 --> 00:07:58,560 Who do you sell mostly? 106 00:07:58,640 --> 00:08:01,360 End users? What is the split between B2C and B2B? 107 00:08:47,960 --> 00:08:49,360 What is your average order value? 108 00:09:29,120 --> 00:09:30,400 Woo-hoo! 109 00:09:30,480 --> 00:09:31,400 - Thank you! - Thank you! 110 00:09:31,480 --> 00:09:34,120 Did you notice I have been speaking on your behalf since the start? 111 00:09:35,440 --> 00:09:40,400 Such chemistry is important between a founder and an investor. 112 00:09:45,840 --> 00:09:48,000 - Yes! - After your pitch, 113 00:09:48,080 --> 00:09:49,720 she built a chemistry. 114 00:09:49,800 --> 00:09:51,080 [sweeping music playing] 115 00:09:51,760 --> 00:09:54,640 My two boys aged 18 years and 13 years 116 00:09:55,080 --> 00:09:58,280 are the most excited about the game room. 117 00:09:58,400 --> 00:10:02,040 They do multiple customisation in their game room. 118 00:10:02,160 --> 00:10:05,000 I mean that is what they are working on. 119 00:10:05,120 --> 00:10:06,920 [sweeping music playing] 120 00:10:07,200 --> 00:10:10,000 I reorder on Amazon every three months. 121 00:10:11,040 --> 00:10:12,920 The point I'm trying to make 122 00:10:13,000 --> 00:10:15,440 is that it's a trend. 123 00:10:15,600 --> 00:10:21,120 Also, I feel that the current segment of B2B 124 00:10:21,600 --> 00:10:24,400 is not fully utilised by you. 125 00:10:25,440 --> 00:10:26,920 I want to help you there. 126 00:10:28,080 --> 00:10:30,800 Currently, you are only on the website and WhatsApp. 127 00:10:31,120 --> 00:10:32,760 I think there's a lot you can do. 128 00:10:32,880 --> 00:10:34,880 For instance, marketplaces and retail channels. 129 00:10:35,200 --> 00:10:38,160 I think it has a huge potential. My offer to you is... 130 00:10:38,480 --> 00:10:41,520 You asked for a valuation of Rs. 25 crores. 131 00:10:41,600 --> 00:10:42,480 - Yes. - Right? 132 00:10:42,800 --> 00:10:44,280 I'll give you the same valuation. 133 00:10:44,360 --> 00:10:47,560 - I won't haggle or negotiate with you. - Amazing! 134 00:10:47,680 --> 00:10:51,560 I'll give you Rs. 25 lakhs for 1% equity. 135 00:10:53,080 --> 00:10:56,240 However, I think it's a deal where royalty makes a lot of sense. 136 00:10:57,160 --> 00:10:59,480 So I'd like to give you Rs. 50 lakhs 137 00:10:59,800 --> 00:11:01,200 in a way that I get 138 00:11:01,400 --> 00:11:05,080 maybe 5% on each product as royalty. 139 00:11:13,680 --> 00:11:14,880 [laughing] 140 00:11:15,400 --> 00:11:17,760 - As fast as Namita is in terms of... - Obviously. 141 00:11:18,000 --> 00:11:21,080 - "Decorating my house." She wants to secure the supply. - Obviously. 142 00:11:21,400 --> 00:11:24,840 I want to invest so I need to understand your business. 143 00:11:26,280 --> 00:11:27,600 Did you find out 144 00:11:28,040 --> 00:11:30,680 - the market size in India? - Yes. 145 00:11:30,800 --> 00:11:32,160 The market size in India 146 00:11:32,240 --> 00:11:34,120 - is more than Rs. 8,000 crores. - Whew! 147 00:11:34,520 --> 00:11:36,560 - Yes, let me... - It's not possible. 148 00:11:36,680 --> 00:11:38,680 - It's 100% possible. - No way! 149 00:11:38,880 --> 00:11:40,800 Please prove it because it's impossible. 150 00:11:40,880 --> 00:11:43,200 We have a few TGs in the Home Decor segment. 151 00:11:43,360 --> 00:11:45,560 Gaming, influencers, 152 00:11:45,760 --> 00:11:48,040 kid's room and home theatre. Right? 153 00:11:48,440 --> 00:11:52,080 There are around 1 lakh professional gamers in India. 154 00:11:52,160 --> 00:11:54,400 We think the gaming customers 155 00:11:54,520 --> 00:11:56,880 always face a wall which they want to decorate. 156 00:12:04,680 --> 00:12:05,680 - Yes. - TAM. 157 00:12:05,760 --> 00:12:07,360 But that's not called the market size. 158 00:12:08,760 --> 00:12:09,920 Why? It's TAM. 159 00:12:10,120 --> 00:12:12,600 No. To get the market size 160 00:12:12,720 --> 00:12:14,920 one must have the actual data. 161 00:12:15,040 --> 00:12:17,280 They have done an estimation based on the number of people. 162 00:12:17,360 --> 00:12:19,080 It consists of assumptions. It's not TAM. 163 00:12:19,200 --> 00:12:21,800 My point is a Rs. 9,000 crore TAM 164 00:12:21,920 --> 00:12:23,200 - is not... - It can't be. 165 00:12:23,600 --> 00:12:24,560 It's not unbelievable. 166 00:12:24,640 --> 00:12:26,360 No. It can't be more than Rs. 1,000 crores. 167 00:12:26,640 --> 00:12:28,200 [dramatic music playing] 168 00:12:29,280 --> 00:12:31,880 We are also launching products costing Rs. 2,000-Rs. 3,000. 169 00:12:32,600 --> 00:12:34,920 There are customers who don't have a high purchasing power 170 00:12:35,040 --> 00:12:37,520 but they want neon signs of a high quality. 171 00:12:37,640 --> 00:12:40,000 We have products for them. We can show you. 172 00:12:40,080 --> 00:12:41,080 Please show us. 173 00:12:41,360 --> 00:12:44,120 Woo-hoo! 174 00:12:44,200 --> 00:12:45,800 - Wow! - Whoa! 175 00:12:46,120 --> 00:12:47,240 Oh my God! 176 00:12:47,320 --> 00:12:48,360 Mine is better. 177 00:12:49,760 --> 00:12:51,440 Oh my God! 178 00:12:54,960 --> 00:12:55,960 I love it. 179 00:12:56,040 --> 00:12:57,160 You gave her the right thing. 180 00:12:57,240 --> 00:12:58,760 - I love it. Thank you so much. - This is the one you got right. 181 00:12:58,840 --> 00:13:00,680 I love it. Thank you so much! 182 00:13:00,880 --> 00:13:03,600 Please clarify it to everyone it's an injection. 183 00:13:03,960 --> 00:13:05,600 And clarify that it's a lipstick. 184 00:13:05,760 --> 00:13:07,800 [cackling] 185 00:13:08,160 --> 00:13:10,560 Aren't these things faddish? 186 00:13:11,840 --> 00:13:14,800 Nowadays, LED neon signs are in trend. 187 00:13:15,400 --> 00:13:17,120 Maybe in the next 2-3 years, 188 00:13:17,200 --> 00:13:18,760 this trend could change. 189 00:13:19,080 --> 00:13:21,920 Right? If that happens, you'll be out of business. 190 00:13:23,080 --> 00:13:24,480 It doesn't happen. It has been present for years. 191 00:13:24,560 --> 00:13:26,400 - Actually, it's kitsch. - No. 192 00:13:26,520 --> 00:13:28,840 - Sir, please take it as a signage business. - Okay. 193 00:13:28,960 --> 00:13:31,000 Suppose you have a store, a cafe, 194 00:13:31,080 --> 00:13:32,880 a restaurant or an office. 195 00:13:33,200 --> 00:13:34,920 And you want to display your logo. 196 00:13:35,040 --> 00:13:36,720 What are your options for that? 197 00:13:36,800 --> 00:13:38,200 Either you'll display a hoarding 198 00:13:38,360 --> 00:13:40,560 or you'll display an acrylic sign with your logo. 199 00:13:40,640 --> 00:13:43,720 We have seen offices that display a logo. 200 00:13:43,840 --> 00:13:45,920 Consider it as a signage business. 201 00:13:46,000 --> 00:13:47,320 I'm giving you an example. 202 00:13:47,400 --> 00:13:50,360 Let me give you an example. 203 00:13:51,800 --> 00:13:53,200 Holograms. Right? 204 00:13:53,960 --> 00:13:56,120 We see them in many places. 205 00:13:56,680 --> 00:14:00,480 If they employ advanced technology and become popular, 206 00:14:10,040 --> 00:14:11,480 We guarantee you 207 00:14:11,600 --> 00:14:13,720 that Neon Attack will introduce the latest technology. 208 00:14:16,080 --> 00:14:19,360 Hardik and Kartik, you two are exceptional entrepreneurs. 209 00:14:19,440 --> 00:14:21,680 - And crazy salesmen. - Also, salesmen. 210 00:14:22,480 --> 00:14:23,920 From my perspective, 211 00:14:24,000 --> 00:14:27,160 to make a scaleable product, 212 00:14:27,240 --> 00:14:29,920 one must be clear about what we don't want to do. 213 00:14:30,480 --> 00:14:32,760 In my experience, 214 00:14:33,000 --> 00:14:37,240 the B2B services with customisation 215 00:14:37,320 --> 00:14:42,840 are cumbersome because they act like agencies and never scale. 216 00:14:43,000 --> 00:14:45,240 And I don't think you are at the point 217 00:14:45,560 --> 00:14:48,320 where you can turn down B2B. 218 00:14:48,400 --> 00:14:50,880 Unless you stop B2B, 219 00:14:51,080 --> 00:14:53,280 you can't build B2C which is the product business 220 00:14:53,400 --> 00:14:56,520 that is super scaleable and build a global brand, Neon Attack. 221 00:14:57,680 --> 00:15:00,640 However, the product business, B2C is my area of interest. 222 00:15:00,720 --> 00:15:03,680 It requires selling the signs as is to consumers. 223 00:15:03,840 --> 00:15:07,240 It's scaleable but right now it's a small percentage of your business. 224 00:15:07,800 --> 00:15:10,920 Right now, for me, it's not exciting as an investor. 225 00:15:11,120 --> 00:15:13,360 If you decide to shut down B2B 226 00:15:13,440 --> 00:15:17,000 and focus on B2C, I'd be interested. For now, I'm out. 227 00:15:18,560 --> 00:15:21,120 Boss, I liked this product. 228 00:15:21,200 --> 00:15:23,240 You gifted a lovely piece to me. 229 00:15:23,320 --> 00:15:24,760 - The king salutes you. - [giggling] 230 00:15:24,880 --> 00:15:28,560 However, the quality of the acrylic 231 00:15:29,000 --> 00:15:32,360 isn't something unique. 232 00:15:34,000 --> 00:15:35,360 I'll give you an example. 233 00:15:35,480 --> 00:15:39,400 A few years ago, there was a fad of wooden signboards. 234 00:15:39,840 --> 00:15:42,040 Around 10-15 online companies 235 00:15:42,160 --> 00:15:44,280 started selling wooden signboards. Right? 236 00:15:44,520 --> 00:15:47,280 None of them could become big as it's commoditised and can be copied. 237 00:15:47,760 --> 00:15:49,040 So that's the reason I'm out. 238 00:15:49,280 --> 00:15:53,000 But good luck, guys. Your work is wonderful as founders. 239 00:15:54,080 --> 00:15:55,840 I think you two are exceptional founders. 240 00:15:56,800 --> 00:15:57,960 Your product is amazing 241 00:15:58,040 --> 00:15:59,440 but this business is commoditised 242 00:15:59,520 --> 00:16:01,920 and I can't find a way 243 00:16:02,320 --> 00:16:03,680 to make it 10x better. That's one. 244 00:16:04,760 --> 00:16:08,520 Secondly, if you build a successful business, other people will copy you 245 00:16:08,600 --> 00:16:10,040 because the technology is replicable. 246 00:16:10,680 --> 00:16:12,240 For this reason, I want to be out. 247 00:16:13,160 --> 00:16:14,840 - I'll give you an offer. - Whoa! 248 00:16:15,960 --> 00:16:18,040 - Thank you. - Will you go against me? 249 00:16:18,960 --> 00:16:20,840 - A little bit. - [laughing] 250 00:16:21,720 --> 00:16:22,680 Attack! 251 00:16:23,600 --> 00:16:26,000 Fine. I'll give you Rs. 75 lakhs for 6% equity. 252 00:16:32,560 --> 00:16:34,440 Hey, hang on. Wait a minute. 253 00:16:34,520 --> 00:16:36,240 Do you want to consult me? 254 00:16:36,360 --> 00:16:38,600 - Please don't. - No. Please don't. 255 00:16:39,160 --> 00:16:40,480 I'll give you a new offer. 256 00:16:41,760 --> 00:16:44,160 We want royalty in your business. Okay? 257 00:16:45,600 --> 00:16:48,840 Rs. 25 lakhs for 2% equity. 258 00:16:48,920 --> 00:16:51,520 So your valuation will be Rs. 12.5 crores. 259 00:16:52,080 --> 00:16:54,840 Rs. 50 lakhs as a royalty deal 260 00:17:02,920 --> 00:17:05,600 You are giving a lesser equity. You have a good business. 261 00:17:07,720 --> 00:17:10,520 We are thinking Rs. 50 lakhs for 2% equity 262 00:17:11,320 --> 00:17:15,280 and Rs. 25 lakhs at a royalty of 2%. 263 00:17:15,400 --> 00:17:17,480 - We can do 2x? - Yes, 2x. 264 00:17:23,920 --> 00:17:26,400 Earlier, we gave you a Rs. 12.5 crore valuation. 265 00:17:26,760 --> 00:17:28,880 We are increasing it to Rs. 15 crores. 266 00:17:28,960 --> 00:17:32,640 We'll give you Rs. 30 lakhs for 2% equity 267 00:17:32,720 --> 00:17:35,200 - such that you get a Rs. 15 crore valuation. - Good valuation. 268 00:17:35,280 --> 00:17:37,920 And the balance 45... It's a great valuation. 269 00:17:38,000 --> 00:17:40,880 Given that your last year's sales were Rs. 5 crores. It's three times. 270 00:17:41,000 --> 00:17:45,840 - Wow. - Rs. 45 lakhs at a royalty of 2%. 271 00:17:45,920 --> 00:17:47,240 I asked for 5%. 272 00:17:47,320 --> 00:17:49,080 Until it reaches 3x 273 00:17:49,360 --> 00:17:50,800 which is Rs. 1.35 crores. 274 00:17:57,000 --> 00:17:57,880 Four. 275 00:17:57,960 --> 00:17:58,920 - No? - Please. 276 00:17:58,920 --> 00:17:59,840 - No. - A lot of pressure. 277 00:17:59,920 --> 00:18:02,520 - Tell me what the problem is. Go on. - Non-negotiable. 278 00:18:02,600 --> 00:18:03,680 - You know, Aman. - Sir... 279 00:18:03,760 --> 00:18:05,920 Please understand. It's our first investment round. 280 00:18:06,000 --> 00:18:07,040 What do you want? 281 00:18:07,160 --> 00:18:11,520 We want Rs. 50 lakhs for 2% equity and royalty at 2x. 282 00:18:24,560 --> 00:18:25,880 [joyous music playing] 283 00:18:31,280 --> 00:18:32,280 [music fades] 284 00:22:57,240 --> 00:22:58,560 Th as in 'thathera' (coppersmith). 285 00:22:58,640 --> 00:22:59,480 This is interesting. 286 00:22:59,560 --> 00:23:00,760 Really? You want to do it? 287 00:23:00,880 --> 00:23:04,640 I mean, I'm saying it's interesting to get into the history of all this. 288 00:23:04,920 --> 00:23:06,600 - P-TAL. Copper. - What is this? 289 00:23:06,720 --> 00:23:07,760 [clanking] 290 00:23:07,920 --> 00:23:09,320 Water. Copper water. 291 00:23:09,400 --> 00:23:11,240 My parents are doing this now. Copper water. 292 00:23:11,320 --> 00:23:14,000 - My mother's been doing it forever. - Forever. 293 00:23:14,120 --> 00:23:16,640 - Clay... - Same thing. My grandmother would do it forever. 294 00:23:16,720 --> 00:23:17,720 Clay and copper. 295 00:23:18,560 --> 00:23:19,880 [theme music playing] 296 00:23:42,160 --> 00:23:43,600 [music fades] 297 00:25:32,400 --> 00:25:35,080 It is said that the food cooked in these utensils 298 00:25:35,280 --> 00:25:38,080 retains 93% of the nutrients 299 00:25:47,000 --> 00:25:49,680 Theirs is the only Indian craft 300 00:25:58,160 --> 00:26:01,280 Where they made a mere Rs. 2,000 a month earlier, 301 00:26:40,800 --> 00:26:42,720 - Droom, Arjun Vaidya and others. - Arjun Vaidya. 302 00:26:42,800 --> 00:26:44,000 Vishesh from Shiprocket... 303 00:26:44,080 --> 00:26:48,160 The founders of various D2C brands were also part of the round. 304 00:26:48,240 --> 00:26:49,680 Aditya and Kirti, we'll get to that later. 305 00:26:49,760 --> 00:26:52,600 You mentioned it started as an SRCC project. 306 00:26:52,680 --> 00:26:53,760 Are you from SRCC? 307 00:26:53,920 --> 00:26:55,320 Aman, I was in SRCC 308 00:26:55,400 --> 00:26:58,120 where I completed my graduation in 2021. 309 00:27:01,320 --> 00:27:03,480 Enactus is a society in every college 310 00:27:03,600 --> 00:27:07,200 where we undertake social and entrepreneurial projects. 311 00:27:07,400 --> 00:27:08,560 As a college project, 312 00:27:08,680 --> 00:27:11,720 we students didn't have money to hire a professional designer. 313 00:27:12,000 --> 00:27:14,600 Arjun was one of the students in our college at the time. 314 00:27:14,760 --> 00:27:16,360 Kirti is his sister. 315 00:27:16,440 --> 00:27:19,400 He spoke to her. She has studied professional design. 316 00:27:19,520 --> 00:27:22,880 Kirti agreed that she'd handle the designing part pro bono 317 00:27:22,960 --> 00:27:25,720 - for which she moved from Chandigarh to Amritsar. - Oh, wow! 318 00:27:25,800 --> 00:27:28,080 She developed the designs with the artisans there herself 319 00:27:28,240 --> 00:27:30,000 and made these utensils. 320 00:27:30,080 --> 00:27:32,120 They used to make cauldrons for gurdwaras, 321 00:27:32,240 --> 00:27:34,000 but they made modern utensils for her. 322 00:27:34,080 --> 00:27:35,120 You had so much free time! 323 00:27:35,920 --> 00:27:38,480 Pro bono! Moved from Chandigarh to Amritsar 324 00:27:38,560 --> 00:27:40,080 and stayed with those artisans! 325 00:27:40,160 --> 00:27:42,640 - I'd just graduated that year. - Okay. 326 00:27:43,160 --> 00:27:45,440 My brother was part of Enactus. 327 00:27:45,600 --> 00:27:48,400 Whenever I used to look at the kind of value they were creating, 328 00:27:48,520 --> 00:27:50,080 I was... It was mind-blowing. 329 00:27:50,160 --> 00:27:53,120 What's special about Jandiala Gurdwara? 330 00:27:53,200 --> 00:27:54,840 - Not a gurdwara, it's a town. - Jandiala is not a gurdwara. 331 00:27:54,920 --> 00:27:57,600 It's a small town 30 to 40 km from Amritsar. 332 00:27:57,720 --> 00:27:58,760 Tell us about you, Gaurav. 333 00:28:03,320 --> 00:28:05,640 I'd seen these utensils since childhood as I'm from Punjab. 334 00:28:05,760 --> 00:28:08,680 I had these utensils at home but they were gradually reducing. 335 00:28:08,760 --> 00:28:10,360 When I visited the village 336 00:28:10,440 --> 00:28:13,160 and realised this was one of India's only crafts 337 00:28:13,240 --> 00:28:14,880 which was also listed with UNESCO, 338 00:28:15,080 --> 00:28:17,960 I instantly knew I had to do this. 339 00:28:17,960 --> 00:28:20,640 I wanted to bring brass & copper back into every household. 340 00:28:20,760 --> 00:28:22,360 What are your ages? 341 00:28:22,600 --> 00:28:24,160 I'm 29. 342 00:28:24,840 --> 00:28:25,680 28. 343 00:28:25,880 --> 00:28:27,000 I'm 24 years old. 344 00:28:27,160 --> 00:28:28,240 What are your roles? 345 00:28:28,360 --> 00:28:29,520 I'm the CPO. 346 00:28:29,680 --> 00:28:30,840 I'm the COO. 347 00:28:30,920 --> 00:28:31,760 I'm the CEO. 348 00:28:31,840 --> 00:28:35,920 When we were kids, our grandmothers and mothers used to tell us 349 00:28:36,000 --> 00:28:37,880 to eat in brass utensils, as you said. 350 00:28:38,000 --> 00:28:39,280 We never did listen to them. 351 00:28:39,720 --> 00:28:41,960 Now, the new generation, 352 00:28:41,960 --> 00:28:46,680 people in the age group of 24 to 28 are reinventing this. 353 00:28:46,880 --> 00:28:48,320 It's quite interesting. 354 00:28:48,880 --> 00:28:51,040 - Could you show us your products? - Yes. 355 00:28:51,960 --> 00:28:57,000 Your utensils are made of brass, bronze as well as copper. 356 00:28:57,080 --> 00:28:58,960 Then why did you name it P-TAL? 357 00:28:59,080 --> 00:29:01,800 P-TAL, Punjab Thathera Art Legacy! 358 00:29:08,320 --> 00:29:10,240 Very nice. Lovely designs. 359 00:29:10,480 --> 00:29:11,680 Tumblers for everyone. 360 00:29:12,360 --> 00:29:14,160 That's our bestseller. 361 00:29:14,240 --> 00:29:16,840 - This? - We launched it and it was all over the place. 362 00:29:16,840 --> 00:29:18,320 This one is bronze. 363 00:29:18,440 --> 00:29:20,440 This is brass. It's tin-coated. 364 00:29:22,240 --> 00:29:23,120 It is heavy. 365 00:29:23,200 --> 00:29:26,440 - Why is this corrugated? - It's from the hammering. 366 00:29:26,600 --> 00:29:27,920 That is done by hand... 367 00:29:28,000 --> 00:29:29,400 I got it. Why is it needed? 368 00:29:29,480 --> 00:29:30,920 - It's the identity of 'thatheras'. - Yes. 369 00:29:31,000 --> 00:29:35,320 If you see a machine-made product, the hammer marks will be missing. 370 00:29:35,400 --> 00:29:38,040 This is characteristic of the 'thathera' craft. 371 00:29:39,480 --> 00:29:40,920 Which is your highest-selling product? 372 00:29:41,000 --> 00:29:41,920 The water dispenser 373 00:29:45,120 --> 00:29:46,360 What is its price? 374 00:30:00,120 --> 00:30:03,680 it improves digestion, metabolism and immunity. 375 00:30:03,800 --> 00:30:07,120 You said your utensils retain 93% nutrients 376 00:30:07,240 --> 00:30:08,880 as compared to 13% in the others. 377 00:30:08,960 --> 00:30:10,480 Does 'others' mean stainless steel? 378 00:30:10,560 --> 00:30:13,240 Vineeta, we conducted various lab tests. 379 00:30:13,320 --> 00:30:17,640 We had many vegetables and foods cooked, and observed the changes. 380 00:30:17,760 --> 00:30:19,400 We observed that... 381 00:30:19,560 --> 00:30:23,320 - Let's assume 50 grams of okra contains 2 grams of protein. - Hmm. 382 00:30:23,440 --> 00:30:27,640 After cooking it in our utensil, it had 1.8 to 1.85 grams of protein. 383 00:30:27,800 --> 00:30:28,880 The same okra 384 00:30:28,960 --> 00:30:30,920 when cooked in stainless steel or aluminium utensils, 385 00:30:31,000 --> 00:30:34,280 the number of protein came down to 0.5 or 0.4 grams. 386 00:30:35,320 --> 00:30:37,000 Are these naturally non-stick? 387 00:30:37,160 --> 00:30:38,400 Yes, they are. 388 00:30:38,520 --> 00:30:41,000 - This doesn't need Teflon coating? - No, nothing. 389 00:30:49,800 --> 00:30:52,560 There are three reasons why customers buy our products. 390 00:31:14,440 --> 00:31:16,880 Bronze sells the most in our dinnerware range 391 00:31:16,960 --> 00:31:18,520 because it's good to eat from it. 392 00:31:18,600 --> 00:31:19,400 - So... - Sorry. 393 00:31:19,480 --> 00:31:21,440 Don't you think that from a customer perspective, 394 00:31:21,520 --> 00:31:23,800 your price point is too high? 395 00:31:24,200 --> 00:31:27,320 The proposition of our brand is purity. 396 00:31:28,120 --> 00:31:31,200 Copper pots are easily available in the market 397 00:31:31,280 --> 00:31:33,120 but they're not in fact copper. 398 00:31:33,200 --> 00:31:36,440 Mostly other metals are mixed and pure copper is not used. 399 00:31:36,560 --> 00:31:37,840 Or they simply apply a coating. 400 00:31:37,960 --> 00:31:41,160 Brass and copper utensils will last you a lifetime. 401 00:31:41,240 --> 00:31:43,960 How many kg of copper is used to make the 3-litre dispenser? 402 00:31:44,040 --> 00:31:45,160 3 kg. 403 00:31:45,320 --> 00:31:46,800 What's the cost of raw copper? 404 00:31:52,760 --> 00:31:55,280 Then come your making charges and distribution. 405 00:31:56,440 --> 00:31:59,600 Your tagline is Transforming Traditions Into Trend. 406 00:31:59,800 --> 00:32:01,280 That doesn't resonate with me, 407 00:32:01,640 --> 00:32:03,800 but if the health benefits... 408 00:32:03,880 --> 00:32:06,000 You told us about your customer profile. 409 00:32:06,080 --> 00:32:08,680 The number one customer buys for health benefits. 410 00:32:08,760 --> 00:32:11,320 They must be quite conscious about the quality. 411 00:32:11,480 --> 00:32:15,360 Shouldn't your tagline be something like '100% Grade A'? 412 00:32:15,520 --> 00:32:18,840 Someone who buys a Rs. 1,000 product will find it expensive 413 00:32:18,920 --> 00:32:20,720 unless you make it part of your positioning. 414 00:32:20,800 --> 00:32:22,640 A lot of customers buy from us 415 00:32:22,720 --> 00:32:24,440 because of the instant nostalgia and connect. 416 00:32:24,520 --> 00:32:28,480 No, he's right. I agree with Anupam this time, by chance. 417 00:32:29,400 --> 00:32:30,880 I was nostalgic on seeing the product. 418 00:32:31,080 --> 00:32:32,720 You don't need to say it. 419 00:32:32,880 --> 00:32:37,600 What you do need to say is that this has health benefits too. 420 00:32:37,760 --> 00:32:38,960 Your brand name is solid. 421 00:32:39,080 --> 00:32:40,040 P-TAL as a brand name, 422 00:32:40,120 --> 00:32:41,640 - the wordplay is beautiful. - Amazing. 423 00:32:41,840 --> 00:32:45,840 - Your tagline needs to be a little more sharper. - Sharper. 424 00:32:45,920 --> 00:32:47,040 What's the price of this? 425 00:32:47,640 --> 00:32:50,440 - This is for Rs. 2,000... 1,985. - Wow. 426 00:32:50,520 --> 00:32:51,440 It's expensive. 427 00:32:51,520 --> 00:32:54,480 We've fixed the pricing 428 00:32:54,600 --> 00:32:57,680 keeping the unit economics and everything else in mind. 429 00:32:57,800 --> 00:33:00,360 You said 'unit economics'. Amit is all ears. Please tell him. 430 00:33:00,480 --> 00:33:02,640 Tell us the sales first and then move to the unit economics. 431 00:33:02,720 --> 00:33:05,080 When we started selling in 2019, 432 00:33:32,520 --> 00:33:34,120 We have to optimise a lot of things. 433 00:33:34,200 --> 00:33:35,760 We have a clear focus and goal 434 00:33:35,880 --> 00:33:39,200 as to which channels we could scale and get to that number. 435 00:33:39,200 --> 00:33:40,800 The growth isn't a lot. 436 00:33:41,080 --> 00:33:43,000 - It is 100%. - It was bootstrapped. 437 00:33:43,080 --> 00:33:44,120 We were bootstrapped until now... 438 00:33:44,200 --> 00:33:45,320 Is everything online? 439 00:33:45,440 --> 00:33:47,680 - All your sales? - No, we have a retail outlet also 440 00:33:58,360 --> 00:33:59,880 Our goal at the time was... 441 00:33:59,960 --> 00:34:01,400 If you take the utensils market, 442 00:34:01,520 --> 00:34:04,320 a lot of people wish to buy from offline channels. 443 00:34:04,400 --> 00:34:06,720 They want to see the utensils before purchasing them. 444 00:34:06,800 --> 00:34:08,240 Do you have a photo of the outlet? 445 00:34:08,320 --> 00:34:09,240 Yes. 446 00:34:10,320 --> 00:34:12,040 This is our Delhi store. 447 00:34:13,480 --> 00:34:14,320 Nice. 448 00:34:14,440 --> 00:34:17,600 You're building a luxury brand. Basically, a premium luxury brand. 449 00:34:17,760 --> 00:34:19,240 - Mass premium. - No, mass premium. 450 00:34:19,320 --> 00:34:21,080 You're not mass premium. 451 00:34:21,160 --> 00:34:24,080 Every market in India now is mass premium. 452 00:34:24,640 --> 00:34:25,960 Affordable luxury. 453 00:34:26,040 --> 00:34:27,680 - They're not affordable. - That's what it looks like. 454 00:34:27,760 --> 00:34:29,200 - This is not affordable. - Affordable luxury. 455 00:34:29,280 --> 00:34:31,400 - This is only luxury. - No, this is affordable. 456 00:34:31,520 --> 00:34:33,720 Who makes costlier utensils than you? 457 00:34:33,800 --> 00:34:36,200 - Good Earth is costlier than them. - They're not. 458 00:34:36,280 --> 00:34:38,120 - They are costlier. - Yes. 459 00:34:38,200 --> 00:34:40,800 - Double our price. - Good Earth is double our price. 460 00:34:40,880 --> 00:34:43,040 Yes, they're luxury. You're affordable luxury. 461 00:35:32,160 --> 00:35:33,880 Let me ask you a question after which I'll make an offer. 462 00:35:33,960 --> 00:35:35,600 Do you make a profit or burn money? 463 00:35:35,840 --> 00:35:37,520 - We make profit. - How much? 464 00:35:37,600 --> 00:35:40,240 Let me give you a break up of our unit economics. 465 00:35:40,360 --> 00:35:41,800 Out of our net sales, 466 00:36:41,560 --> 00:36:43,560 No matter when you've signed the term sheet, 467 00:36:43,640 --> 00:36:45,120 I have nothing to do with that. 468 00:36:45,200 --> 00:36:49,200 Rs. 50 lakhs at the same valuation as your last round. 469 00:37:50,200 --> 00:37:54,080 our focus is only on two channels, D2C and Amazon. 470 00:37:54,200 --> 00:37:56,120 We'll focus only on D2C India, Amazon India, 471 00:37:56,200 --> 00:37:58,400 and D2C US and Amazon US. 472 00:37:58,480 --> 00:37:59,680 Export is very important. 473 00:37:59,760 --> 00:38:01,760 Won't you focus on EBO expansion? 474 00:38:01,880 --> 00:38:04,440 We thought EBO was a good model in the long term. 475 00:38:04,520 --> 00:38:05,760 We do want to expand, 476 00:38:05,840 --> 00:38:08,160 but if we look at short term which is the next 6 months, 477 00:38:08,240 --> 00:38:10,280 our focus is D2C and Amazon. 478 00:38:10,360 --> 00:38:11,960 That will eventually bleed. 479 00:38:12,080 --> 00:38:14,520 Who can scale such a costly product in D2C? 480 00:38:14,600 --> 00:38:16,440 If you do not export, 481 00:38:16,560 --> 00:38:18,200 - your price point... - Do export and EBO. 482 00:38:18,280 --> 00:38:19,960 - If you want to be profitable... - Why would you do D2C? 483 00:38:20,040 --> 00:38:21,400 And make a big business, 484 00:38:21,520 --> 00:38:26,400 if you capture even a small market in America or Europe, it blows up! 485 00:38:26,480 --> 00:38:27,560 I'm telling you this 486 00:38:27,680 --> 00:38:30,640 because our entire business is built on NRIs. 487 00:38:30,800 --> 00:38:35,040 Today, at least 5 lakh NRIs visit us every month. 488 00:38:35,160 --> 00:38:36,200 That's a different level. 489 00:38:36,320 --> 00:38:40,000 If you do that, your revenue per user... 490 00:38:40,280 --> 00:38:41,560 Just guess 491 00:38:41,680 --> 00:38:44,720 what is the average revenue per user for NRI and for India. 492 00:38:44,880 --> 00:38:45,760 It's 7x. 493 00:38:45,880 --> 00:38:47,520 - In dollars. - Right! 7x! 494 00:38:47,640 --> 00:38:52,160 Cracking that is very necessary and we cracked it well. 495 00:38:52,240 --> 00:38:53,720 Absolutely. We completely agree. 496 00:38:53,800 --> 00:38:56,600 The price point we've set for the international markets 497 00:38:56,680 --> 00:38:58,400 brings us 85% gross margin. 498 00:39:22,440 --> 00:39:24,920 That's because when we raised a round, 499 00:39:25,040 --> 00:39:26,400 our sales were Rs. 35 lakhs back then. 500 00:39:26,480 --> 00:39:28,600 Now, we've almost doubled to Rs. 72 lakhs. 501 00:39:28,720 --> 00:39:29,840 The funds came now. 502 00:39:29,960 --> 00:39:33,640 - Yes, but we grew without the funds and doubled. - Without it. 503 00:39:33,640 --> 00:39:34,920 Aditya! Kirti! Gaurav! 504 00:40:04,840 --> 00:40:06,080 Thank you for the offer, Sharks. 505 00:40:06,160 --> 00:40:07,480 - Thank you. - It means a lot to us. 506 00:40:07,560 --> 00:40:10,000 - Also, our artisans... - Don't say all of this. 507 00:40:10,400 --> 00:40:12,160 - Take a decision. - Sharks... 508 00:40:12,280 --> 00:40:15,560 It'd be a big deal for us if you all came on board. 509 00:40:15,680 --> 00:40:17,720 - Oh, God! Hey! - The funding that we... 510 00:40:19,520 --> 00:40:21,520 - Namita, when we... - We're Sharks. 511 00:40:21,640 --> 00:40:23,000 When we raised funds, 512 00:40:23,120 --> 00:40:25,040 our motive was to partner with the right people. 513 00:40:25,240 --> 00:40:28,600 In the last 6 months, the help... 514 00:40:28,720 --> 00:40:30,440 We've been able to double our revenue 515 00:40:30,560 --> 00:40:34,160 just because of the right value we've got from everyone. 516 00:40:34,280 --> 00:40:36,560 Money never mattered more to us. 517 00:40:36,720 --> 00:40:39,880 - We would love to have all... - For 0.2%... 518 00:40:40,000 --> 00:40:42,600 - What... - Then set it as per the last round. 519 00:40:42,680 --> 00:40:44,360 Put your money where your mouth is. 520 00:40:44,480 --> 00:40:47,160 - Even then... - You're giving us a sermon. 521 00:40:47,240 --> 00:40:48,440 - Then... - Take more money. 522 00:40:49,880 --> 00:40:52,840 Take more money. Rs. 1 crore for 3.2% equity. 523 00:41:06,600 --> 00:41:07,560 [murmuring] 524 00:41:07,760 --> 00:41:08,760 - Okay. - All right. 525 00:41:18,280 --> 00:41:20,120 - Here, Kirti. - Thank you. 526 00:41:20,240 --> 00:41:22,040 There are a lot of cheques to hold. 527 00:41:44,960 --> 00:41:46,120 They were amazing as a team. 528 00:41:46,400 --> 00:41:48,800 - Very good! - Good kids. Good team. 529 00:41:48,920 --> 00:41:50,040 - Loved them. - Liked the founders. 530 00:41:50,120 --> 00:41:52,040 - Yes! - They will make money. 531 00:43:06,560 --> 00:43:08,920 [theme music playing] 532 00:43:30,600 --> 00:43:32,120 We are from Lucknow. 533 00:43:32,240 --> 00:43:33,600 Today, I am here 534 00:43:33,840 --> 00:43:36,880 to talk about approximately 5 crore people 535 00:43:37,800 --> 00:43:39,440 without whom 536 00:43:39,520 --> 00:43:42,320 boAt's wearable devices, 537 00:43:42,560 --> 00:43:44,760 Emcure's medicines, 538 00:43:45,120 --> 00:43:46,680 things required for weddings, 539 00:43:46,760 --> 00:43:49,400 Sugar cosmetics or cars 540 00:43:49,520 --> 00:43:51,840 won't be delivered to us. 541 00:43:51,920 --> 00:43:53,720 I am talking about truck drivers. 542 00:43:58,760 --> 00:44:00,120 is unorganised 543 00:44:00,200 --> 00:44:02,760 and they don't earn a fixed salary. 544 00:44:02,840 --> 00:44:04,760 Another aspect of this is that 545 00:44:04,840 --> 00:44:06,880 fleet owners like me 546 00:44:07,120 --> 00:44:10,800 often struggle to find certified and trained drivers when we need them. 547 00:44:23,880 --> 00:44:26,400 Road Pilot is an app where 548 00:44:44,520 --> 00:44:48,760 In the last 3 months, we've helped around 1,000 drivers 549 00:45:01,560 --> 00:45:03,600 - Lovely! - So, team Road Pilot. 550 00:45:03,720 --> 00:45:06,000 - Welcome to Shark Tank. - Thank you, ma'am. 551 00:45:06,080 --> 00:45:08,840 Before we understand your revenue model, 552 00:45:09,000 --> 00:45:10,400 - can we see the demo? - Yes, ma'am. 553 00:45:16,240 --> 00:45:18,600 It's Mr. Sunil Verma. When you click on search, 554 00:45:18,680 --> 00:45:20,440 you will see a 'plus' sign, 555 00:45:20,640 --> 00:45:23,520 in Track Job. When he clicks the 'plus' sign 556 00:45:23,640 --> 00:45:25,760 he has to fill out a form. 557 00:45:32,960 --> 00:45:34,800 Their preferred route. 558 00:45:34,920 --> 00:45:39,280 I will feed in Lucknow to Munger. 559 00:45:39,760 --> 00:45:40,680 Nature Of Job. 560 00:45:40,800 --> 00:45:43,160 There are three types of jobs in the industry. 561 00:45:43,280 --> 00:45:45,720 Monthly, Contractual and Trip Wise. 562 00:45:45,960 --> 00:45:47,360 Let's say our job type is monthly. 563 00:45:47,480 --> 00:45:50,760 It shows the salary structure they are offering. 564 00:45:50,840 --> 00:45:53,120 I will select Rs. 21,000 to Rs. 25,000. 565 00:45:53,200 --> 00:45:54,640 Press submit. 566 00:45:56,200 --> 00:45:59,680 The job has been posted. Let me show you the driver app. 567 00:45:59,840 --> 00:46:00,960 This is the drivers app. 568 00:46:00,960 --> 00:46:03,440 He is Virender Kumar from Barmer, Rajasthan. 569 00:46:03,560 --> 00:46:05,360 I posted a job with Lucknow as the location. 570 00:46:05,440 --> 00:46:08,000 When the driver searches 'Lucknow', you can see the job posted here. 571 00:46:08,080 --> 00:46:10,600 He will see the 'apply' button. 572 00:46:10,680 --> 00:46:14,000 He can also see the details. I will apply for the job. 573 00:46:14,440 --> 00:46:15,600 He has applied for the job. 574 00:46:15,680 --> 00:46:18,440 This notification will go to the fleet owner. 575 00:46:18,520 --> 00:46:21,120 He can check driver's profile, 576 00:46:21,240 --> 00:46:24,920 - KYC... - And no one has paid for anything yet. 577 00:46:25,000 --> 00:46:28,520 They have to pay. This is just a demo version. 578 00:46:28,640 --> 00:46:31,520 When the fleet owner creates a vacancy 579 00:46:31,600 --> 00:46:33,200 it links him to a payment gateway. 580 00:46:33,280 --> 00:46:35,280 So, you have 1,000 drivers, right? 581 00:48:58,880 --> 00:49:00,760 There are bigger partners available, 582 00:49:00,840 --> 00:49:03,760 like Delhivery and many more logistic partners. 583 00:49:03,920 --> 00:49:06,760 So, what percent of these 5 crore drivers... 584 00:49:06,880 --> 00:49:09,520 They are connected with an organised player 585 00:49:09,600 --> 00:49:12,000 who have their own technology 586 00:49:12,120 --> 00:49:13,680 to take care of all this. 587 00:49:13,760 --> 00:49:15,760 Ma'am, the big partners 588 00:49:15,880 --> 00:49:18,840 have a market share of 10% to 15%. 589 00:49:18,920 --> 00:49:19,920 Are you sure? 590 00:49:20,080 --> 00:49:21,080 Yes, it is not much. 591 00:49:21,080 --> 00:49:23,040 - Only 10%-15%? That's it? - Their market is small. 592 00:49:23,120 --> 00:49:24,640 Most of the large transporters 593 00:49:24,720 --> 00:49:26,480 also have 10% to 15% of their own fleet. 594 00:49:26,560 --> 00:49:27,520 The rest is outsourced. 595 00:49:28,160 --> 00:49:29,920 - Amazing! - Every month, 596 00:49:30,520 --> 00:49:32,400 how many people look for a job? 597 00:49:32,520 --> 00:49:34,800 Sir, per month, around 598 00:49:34,880 --> 00:49:38,360 10,000-15,000 people look for a job in Lucknow. 599 00:49:44,040 --> 00:49:47,000 - say around 5-7 lakh people are looking for a job. - Yes. 600 00:49:47,080 --> 00:49:47,920 - Right? - Yes. 601 00:49:48,000 --> 00:49:49,640 - You provide them with jobs. - Yes. 602 00:49:49,760 --> 00:49:51,720 Okay! Just wanted to settle that. Thank you. 603 00:49:52,880 --> 00:49:54,600 Who is facing a major problem? 604 00:49:54,680 --> 00:49:57,600 Are drivers facing problems or do fleet owners have issues? 605 00:49:57,680 --> 00:49:59,520 In financial terms, 606 00:49:59,600 --> 00:50:01,280 fleet owners encounter numerous challenges 607 00:50:02,840 --> 00:50:05,160 and suffer significant losses. When a truck is not operational, 608 00:50:05,240 --> 00:50:07,240 they must cover the EMI expenses from their pocket. 609 00:50:08,320 --> 00:50:10,240 And his account becomes NPA. 610 00:50:15,680 --> 00:50:17,480 they discuss, call, and inform each other 611 00:50:17,560 --> 00:50:19,240 that a particular driver is available. 612 00:50:19,520 --> 00:50:21,200 They might have preferred drivers. 613 00:50:21,280 --> 00:50:23,080 To give your truck 614 00:50:23,200 --> 00:50:26,160 to an unknown person 615 00:50:26,560 --> 00:50:29,080 is quite risky. You don't know that person. 616 00:50:30,440 --> 00:50:32,120 It poses a trust issue. 617 00:50:33,760 --> 00:50:36,400 Sir, we verify their background to build trust. 618 00:50:43,040 --> 00:50:44,520 We either go to the local police station 619 00:50:44,600 --> 00:50:46,200 and collect a police verification report, 620 00:50:46,280 --> 00:50:47,960 or we can obtain a certificate 621 00:50:54,440 --> 00:50:56,280 We put a stamp on it with the date. 622 00:50:56,520 --> 00:50:59,880 If anything goes wrong, we can trace him. 623 00:51:00,000 --> 00:51:01,080 Hold on! 624 00:51:01,160 --> 00:51:04,280 The process of police verification and letter... 625 00:51:04,360 --> 00:51:06,360 I ran a business for background verification. 626 00:51:06,520 --> 00:51:07,560 In police verification, 627 00:51:07,560 --> 00:51:09,360 the expense is around Rs. 800-Rs. 1,000. 628 00:51:09,440 --> 00:51:11,160 It costs Rs. 500 to obtain a letter from the head of the village. 629 00:51:11,240 --> 00:51:13,040 You will spend Rs. 1,500 on this. 630 00:51:13,160 --> 00:51:15,400 [suspenseful music playing] 631 00:51:15,520 --> 00:51:17,040 Ma'am, the driver has to bear the cost. 632 00:51:18,080 --> 00:51:20,160 Police verification costs Rs. 40. 633 00:51:25,320 --> 00:51:27,920 That's why companies run police verification. 634 00:51:29,320 --> 00:51:32,920 If it is forged, we obtain the letterhead from the village council. 635 00:51:34,240 --> 00:51:36,520 And we cross-verify it. 636 00:51:36,600 --> 00:51:38,800 I am out for now. 637 00:51:40,720 --> 00:51:42,600 I doubt the fleet owners 638 00:51:42,680 --> 00:51:45,040 can gain trust. 639 00:51:50,520 --> 00:51:52,400 Claims can also be made against you. 640 00:51:52,480 --> 00:51:53,680 For that reason, I am out. 641 00:51:55,080 --> 00:51:56,400 What are your sales? 642 00:51:56,480 --> 00:51:58,360 Ma'am, as of now, 643 00:51:58,440 --> 00:52:01,720 we closed at Rs. 9.87 lakhs on the 31st of March. 644 00:54:11,760 --> 00:54:14,240 That is where I see a big problem. 645 00:54:14,360 --> 00:54:16,520 You have a better understanding of this industry. 646 00:54:16,600 --> 00:54:18,680 So, I think you should continue as a fleet owner. 647 00:54:20,080 --> 00:54:23,160 But I am out. 648 00:54:23,440 --> 00:54:24,520 I wish you the best. 649 00:54:31,040 --> 00:54:33,200 Rs. 1 lakh sales a month 650 00:54:33,320 --> 00:54:34,960 is as good as pre-revenue. 651 00:54:35,040 --> 00:54:36,560 And for that reason, I am out. 652 00:54:37,960 --> 00:54:40,680 Numbers reveal the proof 653 00:54:40,760 --> 00:54:43,080 of the marketplace model when the app is ready. 654 00:54:43,200 --> 00:54:47,640 Out of 5 crore drivers around 2,800 are on your app. 655 00:54:47,720 --> 00:54:50,200 I think you have not 656 00:54:50,280 --> 00:54:52,720 achieved product-market fit. 657 00:54:53,840 --> 00:54:57,400 Taking money from truckers for insurance, Dhaba discount, 658 00:54:57,480 --> 00:54:59,240 and getting a job will never work, 659 00:55:00,360 --> 00:55:04,600 Maybe it will work if you shift your revenue model 660 00:55:04,720 --> 00:55:06,560 towards fleet owners. 661 00:55:06,920 --> 00:55:08,080 My suggestion would be 662 00:55:08,240 --> 00:55:11,120 to keep your revenue model fleet-owner focussed. 663 00:55:11,240 --> 00:55:12,960 Don't make money from truck drivers. 664 00:55:13,080 --> 00:55:15,240 Bring a lot of truck drivers on your platform for free 665 00:55:15,360 --> 00:55:17,800 and you must ensure to reach at least 1 lakh drivers 666 00:55:25,560 --> 00:55:27,800 You mentioned the revenue of Rs. 1.17 lakhs. 667 00:55:27,920 --> 00:55:30,600 How much are you making from truck drivers and fleet owners? 668 00:55:37,800 --> 00:55:39,480 2,800 truck drivers, right? 669 00:55:40,640 --> 00:55:42,520 You are making 70% of your revenue from them. 670 00:55:42,600 --> 00:55:44,600 Let's say around Rs. 80,000. 671 00:55:47,800 --> 00:55:50,320 So, how much is your per unit monetisation? 672 00:55:50,840 --> 00:55:51,800 Per driver? 673 00:55:51,920 --> 00:55:54,480 [upbeat music playing] 674 00:55:54,600 --> 00:55:55,840 You tell us. 675 00:55:55,920 --> 00:55:58,280 [laughing] 676 00:55:59,840 --> 00:56:03,040 I would like to ask you to take a back seat in this business. 677 00:56:04,400 --> 00:56:05,680 Look at the market. 678 00:56:05,800 --> 00:56:08,760 You are involved in a market that doesn't exist. 679 00:56:09,080 --> 00:56:12,760 Many times, we feel passionately about something because 680 00:56:12,840 --> 00:56:16,120 we understand the issues that fleet owners and truck drivers face. 681 00:56:16,200 --> 00:56:18,840 It can be a passion project 682 00:56:18,960 --> 00:56:20,600 or a hobby. 683 00:56:20,680 --> 00:56:22,280 It cannot be an investable business. 684 00:56:22,360 --> 00:56:23,640 The market isn't that big. 685 00:56:23,960 --> 00:56:26,880 If you want to work on it you should create an ecosystem. 686 00:56:27,320 --> 00:56:29,600 - Don't just use it as a job platform. - That's why we are here. 687 00:56:29,680 --> 00:56:31,920 Help us create an ecosystem. 688 00:56:32,320 --> 00:56:33,800 - He is also in automotive. - I think 689 00:56:33,880 --> 00:56:35,400 I am out today. 690 00:56:35,560 --> 00:56:38,440 - TruckDekho. - I won't fit into your vision. 691 00:56:40,840 --> 00:56:43,200 - Thank you, guys. All the best. - Thank you. 692 00:56:43,320 --> 00:56:44,320 Thank you, sir. 693 00:56:49,880 --> 00:56:51,400 - Vineeta, what were you doing? - Employment verification. 694 00:56:51,480 --> 00:56:53,920 - What were you doing in police verification? - What's that? 695 00:56:54,080 --> 00:56:56,800 It was an HR business. 696 00:56:56,880 --> 00:56:58,880 Before recruiting, we used to do 697 00:56:59,000 --> 00:57:00,240 employment verification, police verification, 698 00:57:00,320 --> 00:57:01,920 and education for companies. 699 00:57:01,920 --> 00:57:03,560 - Nice! - In India... 700 00:57:03,880 --> 00:57:06,400 40% of people mention 701 00:57:06,520 --> 00:57:07,960 - incorrect salary... - That's right. 702 00:57:08,040 --> 00:57:11,120 - Incorrect designation and experienc - You used to verify that. 703 00:57:11,240 --> 00:57:12,960 When you check with HR, 704 00:57:13,040 --> 00:57:14,360 in 40% of cases, it is negative. 705 00:57:14,440 --> 00:57:15,800 In which year did you try this? 706 00:57:15,880 --> 00:57:17,200 In 2007-2008. 707 00:57:17,280 --> 00:57:18,320 That is a problem in my office. 708 00:57:18,400 --> 00:57:19,840 - Will you do it for us? - If you came here to pitch, 709 00:57:19,840 --> 00:57:21,200 we would have asked you to shut it down. 710 00:57:21,280 --> 00:57:23,200 No, I tried my best to raise funds. 711 00:57:23,320 --> 00:57:25,800 Because I was introducing tech into it. But no one helped. I shut it. 712 00:57:25,880 --> 00:57:28,200 Good! You did the right thing.