1 00:00:20,080 --> 00:00:22,080 [theme music playing] 2 00:00:23,360 --> 00:00:25,640 [music intensifies] 3 00:00:39,840 --> 00:00:42,040 [music intensifies] 4 00:00:44,840 --> 00:00:46,320 Oh my God! 5 00:00:46,400 --> 00:00:48,080 Oh my God! Oura Ring! 6 00:00:48,120 --> 00:00:49,920 Oh my God, I am wearing it. 7 00:00:50,360 --> 00:00:52,600 - You are wearing Ultrahuman. - Yeah! This will be fun. 8 00:00:53,360 --> 00:00:54,760 What do you check with it? 9 00:00:54,880 --> 00:00:58,560 I check sleep, walk and wake-up time. 10 00:00:58,840 --> 00:01:00,240 This is tough. 11 00:01:01,040 --> 00:01:02,960 He will eat him up, Mr. Gupta. 12 00:01:03,000 --> 00:01:04,480 Didn't boAt make a ring? 13 00:01:05,720 --> 00:01:07,160 Is this boAt's ring? 14 00:01:07,920 --> 00:01:09,520 Your competitor is here today. 15 00:01:09,840 --> 00:01:11,200 Children come and go. 16 00:01:11,560 --> 00:01:13,520 [theme music playing] 17 00:01:26,880 --> 00:01:30,000 [theme music playing] 18 00:01:32,840 --> 00:01:34,920 Sharks, the future is here. 19 00:01:35,840 --> 00:01:38,040 Before we leap into the future, 20 00:01:38,200 --> 00:01:39,360 shall we take a moment to rewind? 21 00:01:39,360 --> 00:01:42,440 There was a time when cash was everything. 22 00:01:42,600 --> 00:01:45,120 All payments used to be made in cash. 23 00:01:45,360 --> 00:01:47,600 Then came plastic debit and credit cards, 24 00:01:47,640 --> 00:01:51,120 which we used to swipe on POS machines. 25 00:01:51,400 --> 00:01:55,040 Swipe cards evolved into dip cards. 26 00:01:55,320 --> 00:01:58,280 And dip cards transformed into tap cards. 27 00:01:58,560 --> 00:02:01,160 But now, the technology of 'tap to pay' 28 00:02:01,360 --> 00:02:03,080 payments is available in wearables too. 29 00:02:03,200 --> 00:02:07,040 You can tap from your hand... 30 00:02:07,480 --> 00:02:08,880 [machine beeps] 31 00:02:09,240 --> 00:02:11,560 - And make payments. - Wow! 32 00:02:12,360 --> 00:02:16,560 'Received Paytm payment of Rs. 1.' 33 00:02:23,720 --> 00:02:25,960 We are Team Seven from Mumbai. 34 00:02:26,400 --> 00:02:29,760 And we make fast, cool and seamless 35 00:02:29,920 --> 00:02:32,200 payment wearable smart rings. 36 00:02:33,280 --> 00:02:36,280 With this, you can make a payment with a single tap, 37 00:02:36,400 --> 00:02:38,720 anytime and anywhere. 38 00:02:43,320 --> 00:02:44,560 which is powered by UPI. 39 00:03:01,120 --> 00:03:04,080 You can use 7 Ring in any shopping mall, cafeteria, 40 00:03:04,280 --> 00:03:06,680 and small grocery shop too 41 00:03:13,160 --> 00:03:17,280 You can also use it as a metro train card. 42 00:03:20,640 --> 00:03:24,680 ...each with fully granted utility patents. 43 00:03:34,280 --> 00:03:37,640 ...and sell 30 lakh rings in the next three years. 44 00:03:47,560 --> 00:03:49,880 You will see a box on your tables. 45 00:03:59,760 --> 00:04:00,920 Show me your hands. 46 00:04:01,640 --> 00:04:03,000 Make a fist. 47 00:04:03,520 --> 00:04:05,480 And tap to pay. 48 00:04:07,160 --> 00:04:09,440 - Can we try? - Yes, sure. 49 00:04:10,880 --> 00:04:12,680 Yeah! There will be a beep. 50 00:04:13,480 --> 00:04:14,960 - Yes. - That's it? 51 00:04:15,120 --> 00:04:17,920 - 'Received Paytm payment of Rs...' - Interesting. 52 00:04:18,120 --> 00:04:21,440 There is a security feature in it. If your palm is stretched out 53 00:04:21,440 --> 00:04:24,280 and if someone puts your hand like this, the payment won't process. 54 00:04:24,360 --> 00:04:26,560 It transmits like a pipe. 55 00:04:26,680 --> 00:04:28,160 If I position it like this, 56 00:04:28,240 --> 00:04:29,920 the transmission will move in that direction 57 00:04:29,960 --> 00:04:31,600 instead of going into the box. 58 00:04:31,840 --> 00:04:34,560 - Look! - As you see, it says 'error reading card'. 59 00:04:34,680 --> 00:04:36,280 That's amazing. 60 00:04:37,400 --> 00:04:39,760 Wow, guys! Welcome to Shark Tank. 61 00:04:39,840 --> 00:04:40,840 - Thank you so much. - Thank you, Peyush. 62 00:04:40,880 --> 00:04:43,880 I know there's a lot of evolution happening. 63 00:04:44,120 --> 00:04:49,960 It's the first time that I've heard of payment through a smart ring. 64 00:04:54,680 --> 00:04:56,920 The inspiration behind this idea was an Apple Watch. 65 00:04:56,960 --> 00:05:00,600 I've been following Apple's history for quite some time. 66 00:05:00,720 --> 00:05:04,360 Look at how we went from mainframe computers to laptops, 67 00:05:04,480 --> 00:05:07,280 then to iPads, and now computers have become a part of your wrist. 68 00:05:08,560 --> 00:05:11,760 So, I thought, what will they do next? 69 00:05:11,840 --> 00:05:14,840 As they say, if you want to ride a wave, 70 00:05:15,160 --> 00:05:17,120 you need to be ready with your surfboard 71 00:05:17,240 --> 00:05:19,200 before the wave reaches you. 72 00:05:19,360 --> 00:05:20,840 That was the thought process behind it. 73 00:05:20,880 --> 00:05:23,600 We believed that smart rings would be prolific in the future, 74 00:05:23,800 --> 00:05:26,000 so we started with that. 75 00:05:26,720 --> 00:05:29,040 So, you've done the complete engineering yourself. 76 00:05:29,080 --> 00:05:31,520 - You're not just importing and selling it. - No. 77 00:05:31,600 --> 00:05:34,280 We do import raw materials. 78 00:05:34,360 --> 00:05:37,320 We develop the mobile app that comes with this product. 79 00:05:37,480 --> 00:05:40,000 We also assemble it here. 80 00:05:40,160 --> 00:05:43,160 We have designed all the assembly, manufacturing, 81 00:05:43,280 --> 00:05:45,080 and tooling for this ourselves. 82 00:05:51,640 --> 00:05:54,680 It requires certifications from Mastercard, Visa, and RuPay. 83 00:05:54,800 --> 00:05:56,440 We have obtained those lab certifications. 84 00:06:10,400 --> 00:06:11,640 ...and when it is active, 85 00:06:11,920 --> 00:06:15,280 it draws power from the electromagnetic field inside it. 86 00:06:15,440 --> 00:06:17,520 It is also called EMF. 87 00:06:22,040 --> 00:06:23,880 It gets the data and the payment is done. 88 00:06:23,920 --> 00:06:25,000 We have a 7 Ring. 89 00:06:25,200 --> 00:06:28,600 We have two more variants. 7 Ring Air. Karthik is wearing it. 90 00:06:28,760 --> 00:06:30,080 We also make 7 Ring Gold. 91 00:06:33,720 --> 00:06:36,040 Are these three models separate? 92 00:06:36,280 --> 00:06:38,040 - Yes! - This one is for Rs. 7,000 93 00:06:38,120 --> 00:06:40,320 - and that is for Rs. 1,500. - No, this is for Rs. 4,500. 94 00:06:40,320 --> 00:06:42,840 - You sell it for Rs. 4,500? This mentions Rs. 7,000. - Yes. 95 00:06:42,960 --> 00:06:44,760 7 Ring Air is for Rs. 1,500. 96 00:06:44,920 --> 00:06:47,800 This one will start from Rs. 27,000 based on the weight of the gold. 97 00:06:47,920 --> 00:06:49,640 What is the difference between 98 00:06:49,680 --> 00:06:51,560 - Rs. 4,500 and Rs. 1,500 ring? - The difference is 99 00:06:51,560 --> 00:06:54,280 that we give you 1% full cashback in 7 Ring. 100 00:07:06,640 --> 00:07:08,960 - So, payments and transit, Varun. - And transit. 101 00:07:09,040 --> 00:07:11,520 When it comes to payments, the merchant 102 00:07:11,600 --> 00:07:14,080 has the opportunity to wait for a few minutes. 103 00:07:14,240 --> 00:07:16,200 But transit is a fast environment. 104 00:07:16,240 --> 00:07:18,400 You have to tap and leave. 105 00:07:18,480 --> 00:07:19,840 We want to show you a video. 106 00:07:19,920 --> 00:07:22,040 - Sure. - Let's watch it. 107 00:07:23,800 --> 00:07:27,640 'Hello, today I would like to tell you how you can use 7 Ring' 108 00:07:27,760 --> 00:07:29,320 'and travel in a metro.' 109 00:07:29,560 --> 00:07:31,520 'Go to the gate, make a fist,' 110 00:07:31,600 --> 00:07:32,920 'and place your hand like this' 111 00:07:33,040 --> 00:07:35,560 'on NFC Contactless reader and the gate will open.' 112 00:07:35,960 --> 00:07:38,000 'Whichever metro station you exit' 113 00:07:38,160 --> 00:07:41,400 'that metro gate will withdraw money from your ring automatically.' 114 00:07:42,280 --> 00:07:45,280 'So, you don't have to buy a ticket to travel in a metro,' 115 00:07:45,560 --> 00:07:46,960 '7 Ring is enough.' 116 00:07:48,440 --> 00:07:50,800 This can be done from your watch through NFC. 117 00:07:50,960 --> 00:07:54,840 There are a few watches connected to Mastercard and Visa but not RuPay. 118 00:07:54,920 --> 00:07:57,920 This NCMC feature of metro is exclusive to RuPay. 119 00:07:58,000 --> 00:07:59,680 Is this for nationwide metros? 120 00:07:59,760 --> 00:08:02,360 NCMC is National Common Mobility Card. 121 00:08:09,360 --> 00:08:12,080 - This will apply to all forms of multi-mode public transport. - Yes. 122 00:08:12,080 --> 00:08:14,280 If someone wears a boAt ring 123 00:08:14,400 --> 00:08:17,200 or Ultrahuman, there are rings available. 124 00:08:17,240 --> 00:08:19,320 - There is Oura Ring. - Yes. 125 00:08:19,440 --> 00:08:21,680 So, do you have to wear that ring and this ring as well? 126 00:08:21,680 --> 00:08:24,400 How many rings? Soon, our fingers will be full of rings. 127 00:08:24,600 --> 00:08:25,960 Like Mogambo. 128 00:08:26,040 --> 00:08:29,680 The target customers and target groups are not the same. 129 00:08:36,160 --> 00:08:38,920 In the future, there will be many rings 130 00:08:39,040 --> 00:08:41,120 that cater to both health and payment. 131 00:08:41,240 --> 00:08:44,840 But if you are unable to bring it below a particular price point, 132 00:08:44,960 --> 00:08:47,000 that will make it difficult to achieve mass market adoption. 133 00:08:47,000 --> 00:08:50,320 What we thought about is that people already have watches 134 00:08:50,400 --> 00:08:51,640 to track their health. 135 00:08:51,720 --> 00:08:54,840 If we are giving affordable rings to people to make payments, 136 00:08:55,080 --> 00:08:56,240 then they will adopt this. 137 00:08:56,320 --> 00:08:57,720 Because you don't have to charge this. 138 00:08:57,720 --> 00:09:00,760 It is an accessory that complements your personality. 139 00:09:01,680 --> 00:09:06,000 Apple is the big gorilla in the smartphone and wearable industry. 140 00:09:06,320 --> 00:09:07,640 How will you counter that? 141 00:09:07,680 --> 00:09:09,800 - Why doesn't the Apple Watch work in India? - RBI. 142 00:09:09,840 --> 00:09:12,280 There are two reasons, according to RBI norms, 143 00:09:12,360 --> 00:09:14,760 you can't do this without 2FA, 144 00:09:15,120 --> 00:09:16,560 which is two-factor authentication. 145 00:09:23,600 --> 00:09:25,160 - Yes! - Apple is not the game. 146 00:09:25,200 --> 00:09:26,400 There is also boAt. 147 00:09:26,440 --> 00:09:28,960 - They don't have to localise Apple. - Correct. 148 00:09:29,080 --> 00:09:31,560 - And that is the advantage that they have. - Yes. 149 00:09:32,160 --> 00:09:33,840 If I am wearing a boAt watch, 150 00:09:34,000 --> 00:09:36,520 I won't have to buy your ring. 151 00:09:37,040 --> 00:09:38,960 If not today, maybe a year from now. 152 00:09:39,040 --> 00:09:40,640 Anupam, it's not a zero-sum game. 153 00:09:40,680 --> 00:09:43,920 It's not that if boAt takes some market share, 154 00:09:43,960 --> 00:09:45,240 I won't get mine 155 00:09:45,560 --> 00:09:48,040 or if boAt's market share decreases, then only mine will grow. 156 00:09:48,240 --> 00:09:49,200 It's a growing market. 157 00:09:49,240 --> 00:09:52,040 This means there is space for us to exist and grow as well. 158 00:09:52,080 --> 00:09:54,920 That is not the case. Sorry, I am being deliberate about this. 159 00:09:55,080 --> 00:09:58,480 The argument is, is there a need for it or will it be over? 160 00:09:59,280 --> 00:10:02,200 There are people who don't like to wear a smartwatch. 161 00:10:02,320 --> 00:10:04,760 - They can buy it. - I don't wear a smartwatch or a smart ring. 162 00:10:04,760 --> 00:10:07,280 You have to charge products. You charge your phone, 163 00:10:07,360 --> 00:10:10,480 earphones, iPads and laptops. 164 00:10:10,680 --> 00:10:12,520 If someone doesn't wish to buy a smartwatch, 165 00:10:12,600 --> 00:10:13,920 our ring doesn't need charging. 166 00:10:14,040 --> 00:10:16,280 - That is our biggest USP. - What do you think? 167 00:10:17,200 --> 00:10:18,440 The market is growing. 168 00:10:18,520 --> 00:10:19,760 But on health. 169 00:10:19,840 --> 00:10:21,800 On payment, I don't know yet. 170 00:10:25,760 --> 00:10:27,560 Because you have to sign up with every bank. 171 00:10:27,640 --> 00:10:29,440 It has a lot of security parameters. 172 00:10:29,480 --> 00:10:32,800 Payment via rings is something I'm also hearing for the first time. 173 00:10:34,040 --> 00:10:36,760 Let's do this. Let's talk about your history. 174 00:10:36,880 --> 00:10:39,560 In 2005, I joined Citibank as a DSA... 175 00:11:13,480 --> 00:11:15,200 Our foundation was laid in 2017 176 00:11:15,240 --> 00:11:18,040 when we started pitching to banks and angel investors. 177 00:12:07,960 --> 00:12:11,120 ...by RBI because of their violation of data policy. 178 00:12:11,480 --> 00:12:13,600 We became collateral damage 179 00:12:13,800 --> 00:12:15,360 as we hadn't launched yet, and our entire 180 00:12:15,400 --> 00:12:17,720 inventory was built around Mastercard. 181 00:12:18,000 --> 00:12:20,440 So, you can say our company was shut for 1.5 years. 182 00:12:20,520 --> 00:12:22,600 What did you do when it was shut down for 1.5 years? 183 00:12:25,200 --> 00:12:27,120 There were no salaries as there was no capital in the company. 184 00:12:27,160 --> 00:12:29,240 We invested everything in the launch. 185 00:12:29,400 --> 00:12:33,160 At that time, many startups were working on the Web3 blockchain. 186 00:12:33,440 --> 00:12:36,040 Within our network, we developed code 187 00:12:36,440 --> 00:12:39,120 for other founders, outsourced it to them 188 00:12:39,400 --> 00:12:41,120 - and earned money. That's how we... - Good. 189 00:12:41,200 --> 00:12:42,960 - You didn't get a job again. - No! 190 00:12:43,160 --> 00:12:45,920 After 1.5 years, what made you decide to finally revive it? 191 00:12:46,600 --> 00:12:49,480 In 2022, we went to RuPay. 192 00:12:49,720 --> 00:12:53,440 At that time, RuPay was still about six months away from being ready 193 00:12:53,600 --> 00:12:55,640 for contactless acceptance and encouraged us 194 00:12:55,760 --> 00:12:59,000 to wait and supported us. They waived 195 00:12:59,280 --> 00:13:01,320 the certification fees and licensing costs, 196 00:13:02,120 --> 00:13:03,440 which typically amounts to around Rs. 9-Rs.10 lakhs. 197 00:13:03,480 --> 00:13:04,960 We essentially had to start all over again, 198 00:13:04,960 --> 00:13:07,920 rebuilding everything we had achieved in the first three years 199 00:13:27,920 --> 00:13:29,920 So, we have to launch it. 200 00:13:30,880 --> 00:13:32,680 We will launch and run it for a couple of years 201 00:13:32,720 --> 00:13:34,880 and even if we fail, that's fine, but we must launch it. 202 00:13:34,880 --> 00:13:36,440 - Wow! What a spirit! - Nice! 203 00:13:36,480 --> 00:13:38,960 You are determined. This means you raised funds. 204 00:13:39,040 --> 00:13:41,000 We only raised approximately Rs. 2-Rs. 2.25 crores 205 00:13:41,120 --> 00:13:42,120 - in seven years. - When? 206 00:13:42,200 --> 00:13:44,800 We raised Rs. 50 lakhs in 2018. 207 00:13:45,600 --> 00:13:48,440 - This was at Rs. 10 crores post-money. - Okay. 208 00:13:48,440 --> 00:13:51,880 Following that, we conducted a small bridge round, raising Rs. 65 lakhs 209 00:13:51,920 --> 00:13:53,560 at a pre-money valuation of Rs. 25 crores. 210 00:13:54,280 --> 00:13:56,440 When RuPay partnered with us, 211 00:13:56,760 --> 00:13:59,280 we raised Rs. 39 lakhs. 212 00:13:59,400 --> 00:14:00,880 This was at 12.5 crores. 213 00:14:00,920 --> 00:14:03,760 You can say it was a down round 214 00:14:03,920 --> 00:14:06,240 because we needed it as we didn't have any revenue for a long time. 215 00:14:06,280 --> 00:14:08,160 - Nothing bad about that. - Yes. 216 00:14:08,280 --> 00:14:11,760 Last year, a month after our launch, 217 00:14:11,960 --> 00:14:14,120 they conducted Rs. 72 lakhs CCD round for us, 218 00:14:14,160 --> 00:14:15,440 with a cap of Rs. 50 crores. 219 00:14:15,560 --> 00:14:17,720 You are asking for Rs. 75 crores. 220 00:14:19,080 --> 00:14:21,880 We are currently in a funding round for Rs. 8 crores 221 00:14:22,040 --> 00:14:24,520 and we have received a term sheet for Rs. 2 crores 222 00:14:24,640 --> 00:14:25,800 through an angel network. 223 00:14:25,840 --> 00:14:28,000 And this is at a valuation of Rs. 75 crores? 224 00:14:28,960 --> 00:14:31,520 This is at Rs. 66 crores pre-money. 225 00:14:31,640 --> 00:14:33,880 We added Rs. 9 crores. 226 00:14:34,120 --> 00:14:35,680 That we are doing a round of Rs. 8-Rs. 9 crores, 227 00:14:35,680 --> 00:14:37,560 so the post-money valuation is at Rs. 75 crores. 228 00:14:38,320 --> 00:14:39,960 What are the roles of all three of you? 229 00:14:40,080 --> 00:14:42,360 I am the CEO, and I handle business management, 230 00:14:42,440 --> 00:14:45,240 - overall vision, marketing. - We can see that what do they do? 231 00:14:45,320 --> 00:14:46,560 I am a CTO. 232 00:14:46,560 --> 00:14:49,320 I handle technical development, where I assist 233 00:14:49,600 --> 00:14:51,760 with both backend and product development. 234 00:14:51,840 --> 00:14:54,480 I am the Chief Production Officer, responsible for overseeing 235 00:14:54,520 --> 00:14:55,960 production and inventory management. 236 00:14:56,600 --> 00:14:59,240 I have a feeling that you hold a significant portion of the equity, 237 00:14:59,280 --> 00:15:00,640 while they have a comparatively smaller stake. 238 00:15:00,680 --> 00:15:02,320 - What does the cap table look like? - No. 239 00:15:02,560 --> 00:15:04,760 - So, I own around 48%. - 48%. Okay! 240 00:15:04,960 --> 00:15:07,240 Roughly 15%-16%. 241 00:15:07,360 --> 00:15:08,640 Roughly 17%. 242 00:15:09,320 --> 00:15:11,280 How many rings have you sold to date? 243 00:15:11,360 --> 00:15:12,520 Roughly 3,000 net. 244 00:15:12,680 --> 00:15:14,320 How many were active last month? 245 00:15:14,400 --> 00:15:15,720 If you mean at least one payment, 246 00:15:15,840 --> 00:15:18,920 - it is 1,000 rings. - At least one payment last month. 247 00:15:19,640 --> 00:15:22,000 - Why are 2,000 customers not using it? - What happens is... 248 00:15:22,080 --> 00:15:23,680 We've noticed that 249 00:15:23,800 --> 00:15:26,440 someone used it in April, but they didn't use it in May. 250 00:15:27,080 --> 00:15:29,120 This is not that product. 251 00:15:30,040 --> 00:15:32,720 If you don't use this every day, 252 00:15:32,760 --> 00:15:36,680 then it will reach a corner of a drawer 253 00:15:38,920 --> 00:15:41,880 - Has your transit integration been completed? - We will launch it. 254 00:15:41,960 --> 00:15:43,960 So, that's your killer use case. 255 00:15:44,320 --> 00:15:45,640 Until that happens, 256 00:15:45,720 --> 00:15:47,760 you are not going to be able to see any traction. 257 00:15:47,880 --> 00:15:49,000 - Meaningful traction. - You are right. 258 00:15:49,040 --> 00:15:50,280 - Yes! - When will that go live? 259 00:15:50,520 --> 00:15:53,360 Our pilot testing and CUG testing are completed. 260 00:15:58,400 --> 00:16:00,360 In transit, we will get 0.4%, Peyush. 261 00:16:06,240 --> 00:16:07,440 You think so now. 262 00:16:07,560 --> 00:16:09,240 Okay! We will do that. 263 00:16:09,640 --> 00:16:11,600 What is your projection for the next three years? 264 00:16:12,200 --> 00:16:15,600 Sir, last quarter's revenue was Rs. 35 lakhs. 265 00:16:15,800 --> 00:16:18,920 - Transactions? Or... - This is the sales revenue of the ring. 266 00:16:19,320 --> 00:16:21,840 - Okay! - Q1 was Rs. 26 lakhs. 267 00:16:22,280 --> 00:16:24,600 And last financial year was Rs. 61 lakhs. 268 00:16:25,440 --> 00:16:27,280 Let's take Q1. 269 00:16:27,440 --> 00:16:29,320 You sold rings worth Rs. 26 lakhs. 270 00:16:29,600 --> 00:16:31,400 How many transactions were made? 271 00:16:31,840 --> 00:16:33,320 In April, May and June, 272 00:16:55,880 --> 00:16:57,680 After a certain point, we'll phase it out. 273 00:16:58,360 --> 00:17:00,560 The problem is that it still hasn't been proven. 274 00:17:01,120 --> 00:17:04,320 And your valuation is way too much. 275 00:17:04,960 --> 00:17:07,360 Your standout use case in transportation 276 00:17:07,800 --> 00:17:11,680 will become a habit, leading people to adopt it for other purposes. 277 00:17:11,800 --> 00:17:13,600 - That hasn't been launched yet. - Yes. 278 00:17:13,960 --> 00:17:17,800 Underwriting it at Rs. 75 crores or even Rs. 50 crores 279 00:17:18,360 --> 00:17:19,400 doesn't make sense. 280 00:17:19,760 --> 00:17:21,720 - Good luck! I am out. - Thank you. 281 00:17:22,840 --> 00:17:24,360 The ring market is growing. 282 00:17:24,480 --> 00:17:26,160 Incorporate health into it as well. 283 00:17:26,320 --> 00:17:28,680 We can grow the market together. 284 00:17:28,720 --> 00:17:31,520 But I want to ask you to run faster. 285 00:17:33,160 --> 00:17:34,800 Let's meet in the market. 286 00:17:36,240 --> 00:17:38,560 - What is your decision? - I am out. 287 00:17:40,040 --> 00:17:44,000 In India, more than 50% of the world's 288 00:17:44,080 --> 00:17:46,120 digital transactions take place 289 00:17:46,800 --> 00:17:49,080 - because of how seamless UPI is. - Correct. 290 00:17:49,240 --> 00:17:52,440 A product like this has a lot of potential. 291 00:17:52,560 --> 00:17:55,680 And you are offering 1% cashback. 292 00:17:55,720 --> 00:17:57,440 It's a thoughtful business. 293 00:17:57,520 --> 00:17:58,960 There is a 5% probability 294 00:17:59,040 --> 00:18:01,560 that this will be adopted in the same way as UPI. 295 00:18:01,920 --> 00:18:04,040 There is a 95% probability that it won't work. 296 00:18:06,320 --> 00:18:10,080 I would still like to make a conservative bet on this. 297 00:18:10,160 --> 00:18:11,600 - Oh, wow! - Thank you! 298 00:18:12,200 --> 00:18:14,880 - Wow! - I can't give you the valuation 299 00:18:14,960 --> 00:18:17,920 as much as your current round. 300 00:18:18,520 --> 00:18:20,040 Because I think that's very steep. 301 00:18:20,160 --> 00:18:23,160 I will offer you Rs. 50 lakhs for 1%, which is Rs. 50 crores. 302 00:18:23,240 --> 00:18:25,760 Which is higher than all your past rounds. 303 00:18:25,880 --> 00:18:27,880 And higher than your cap. 304 00:18:27,960 --> 00:18:31,160 And Rs. 25 lakhs in debt at 10% for three years. 305 00:18:42,160 --> 00:18:44,240 So, to reduce my risk, I just wanted to check 306 00:18:44,320 --> 00:18:46,040 if Vineeta would like to split it with me. 307 00:18:46,120 --> 00:18:47,160 Split the same offer. 308 00:18:47,280 --> 00:18:50,240 - Okay! Yeah! - I don't want to negotiate. 309 00:18:56,800 --> 00:19:00,000 And when the wave comes, they get on it. 310 00:19:00,120 --> 00:19:01,400 This is the right wave. 311 00:19:02,320 --> 00:19:04,520 There is an opportunity here for sure. 312 00:19:07,560 --> 00:19:09,600 I feel that 313 00:19:09,680 --> 00:19:11,920 I can help you in the whole ecosystem. 314 00:19:12,000 --> 00:19:14,120 Because we do process 315 00:19:14,240 --> 00:19:15,800 a lot of transactions 316 00:19:15,920 --> 00:19:19,240 on the NFC machine format in our stores in India. 317 00:19:20,600 --> 00:19:24,360 Because we need to cross its threshold and see the use case. 318 00:19:24,480 --> 00:19:27,440 - After that, there is an opportunity to go out. - Correct. 319 00:19:27,520 --> 00:19:31,680 My offer is straight! Rs. 75 lakhs with 3% equity. 320 00:19:33,960 --> 00:19:36,240 Considering the infrastructure 321 00:19:36,320 --> 00:19:38,680 and technology needed for this, 322 00:19:38,760 --> 00:19:41,680 I see a lot of strategic value that I can bring to the table for you. 323 00:19:43,200 --> 00:19:44,600 We'll take a few minutes. 324 00:19:44,720 --> 00:19:45,720 Don't take seven years. 325 00:19:45,800 --> 00:19:47,280 No! Seven minutes. 326 00:19:50,840 --> 00:19:52,040 Sir, Vijay! 327 00:19:52,920 --> 00:19:55,040 - 'Yeah!' - 'I am calling you from the tank.' 328 00:19:55,120 --> 00:19:57,560 Vineeta, if you are out, then Rs. 75 lakhs for 5%. 329 00:19:57,640 --> 00:19:59,720 Or the three of us can go in for Rs. 75 lakhs for 5%. 330 00:19:59,760 --> 00:20:01,600 - Yes, I am okay with that. - I don't mind that 331 00:20:01,640 --> 00:20:03,280 if we can swing it. 332 00:20:13,000 --> 00:20:17,840 We are fine with the valuation if Vineeta, Peyush and Varun 333 00:20:18,040 --> 00:20:20,360 can come together 334 00:20:20,440 --> 00:20:24,120 for Rs. 75 lakhs, Rs. 25 lakhs each at a Rs. 50 crores valuation. 335 00:20:30,480 --> 00:20:33,080 He has built ACKO. It's a fintech. 336 00:20:33,280 --> 00:20:35,880 He has already shared his long list of expertise. 337 00:20:35,960 --> 00:20:39,960 - And I love making good-looking products. - Yeah! 338 00:20:40,080 --> 00:20:43,160 So, we'll offer you Rs. 75 lakhs. All three of us will come in. 339 00:20:43,240 --> 00:20:45,400 This will be at 5%. 340 00:20:52,720 --> 00:20:55,080 We are currently at Rs. 66 lakhs. 341 00:20:55,160 --> 00:20:57,880 Since we are on Shark Tank, we can consider 342 00:20:57,960 --> 00:21:01,520 your offer of Rs. 50 lakhs for 1%, 343 00:21:01,600 --> 00:21:04,000 as it does not go below 344 00:21:04,080 --> 00:21:06,160 our previous cap 345 00:21:06,240 --> 00:21:08,240 without needing much restructuring. 346 00:21:09,440 --> 00:21:12,000 Listen, when I gave you the offer, I mentioned 347 00:21:12,080 --> 00:21:14,560 a surfer... You shared the story 348 00:21:14,680 --> 00:21:16,160 - that surfers have to wait for the waves. - Yeah! 349 00:21:16,200 --> 00:21:18,400 You didn't get on the wave, so that wave left. 350 00:21:20,240 --> 00:21:23,080 I am okay if we all do Rs. 75 lakhs for 3%. 351 00:21:27,520 --> 00:21:29,800 Which is Rs. 25 crores, your minimum floor. 352 00:21:30,000 --> 00:21:32,440 If you don't value us for even 1% then... 353 00:21:33,040 --> 00:21:34,840 Ah... 354 00:21:36,640 --> 00:21:39,960 Peyush, we can't go below the valuation of Rs. 50 crores 355 00:21:41,280 --> 00:21:42,560 at this stage. 356 00:21:44,000 --> 00:21:46,240 Because we are the only one in this business. 357 00:21:46,320 --> 00:21:49,240 - We have done the heavy lifting. - See, it's up to you. You're smart. 358 00:21:49,320 --> 00:21:51,600 You can either optimise valuation 359 00:21:51,680 --> 00:21:53,800 in a business like this right now. 360 00:21:54,320 --> 00:21:57,200 Or you can optimise what you want to make it. 361 00:21:57,280 --> 00:21:58,640 I am clear about this. 362 00:22:00,400 --> 00:22:02,080 What do you want to do? Decision time. 363 00:22:04,920 --> 00:22:07,400 So, we won't be able to take the current offer. 364 00:22:07,880 --> 00:22:09,680 [music playing] 365 00:22:09,760 --> 00:22:12,720 But we will be happy if you can come at 366 00:22:12,800 --> 00:22:16,360 1.5% for all three of you. Rs. 25 lakhs each. 367 00:22:17,040 --> 00:22:19,320 Please below 1%... 368 00:22:19,960 --> 00:22:21,120 Vijay, let me help you. 369 00:22:21,280 --> 00:22:22,400 You are a smart guy. 370 00:22:22,480 --> 00:22:25,560 Your existing investor has been backing you for around 7 years. 371 00:22:25,680 --> 00:22:27,600 - And not much has happened. - Yeah! 372 00:22:27,760 --> 00:22:30,240 If you need them, find some way to make it work. 373 00:22:30,320 --> 00:22:32,720 If you don't need them, then leave. 374 00:22:33,200 --> 00:22:36,360 If you can figure out a way where we can give you 375 00:22:36,480 --> 00:22:38,200 the remaining stake in advisory... 376 00:22:38,280 --> 00:22:39,600 Of course! We do it all the time. 377 00:22:39,680 --> 00:22:41,680 - Of course. - But not bring the valuation under Rs. 50 crores. 378 00:22:41,720 --> 00:22:43,320 - Whichever way. - We will not. 379 00:22:43,560 --> 00:22:46,480 Rs. 75 lakhs for 3%. Is that a deal? 380 00:22:49,640 --> 00:22:51,240 At a valuation of Rs. 50 crores, it's a deal. 381 00:22:51,240 --> 00:22:53,400 Yes! Do it at 75. 382 00:22:53,520 --> 00:22:55,840 [music playing] 383 00:22:57,280 --> 00:22:59,560 - Deal accepted? - Deal accepted. 384 00:22:59,680 --> 00:23:01,280 - Okay! Good decision. - Good! 385 00:23:08,520 --> 00:23:11,200 I believe that while I'm unsure of the value, 386 00:23:11,360 --> 00:23:13,720 transaction-wise, India accounts 387 00:23:13,800 --> 00:23:17,720 for 50% of the world's digital transactions. 388 00:23:17,800 --> 00:23:20,600 This is largely because UPI has made transactions seamless. 389 00:23:20,840 --> 00:23:24,640 I believe that such a technology might be a flop, 390 00:23:24,720 --> 00:23:26,480 but if it works, 391 00:23:26,600 --> 00:23:28,440 then this will become a business worth thousands of crores. 392 00:23:28,480 --> 00:23:31,840 For me, the founders who are behind this business, 393 00:23:31,920 --> 00:23:34,560 I think that was also a very important factor for me. 394 00:23:34,640 --> 00:23:38,800 After such a long time, more than 90% of people's patience 395 00:23:39,040 --> 00:23:40,600 runs out. 396 00:23:40,680 --> 00:23:44,560 The way I am looking at this is that this is the tap equivalent of UPI. 397 00:23:44,680 --> 00:23:46,640 And there is no need to charge it. 398 00:23:46,720 --> 00:23:50,160 You don't have to do that. So, I think this can be pretty big. 399 00:23:50,520 --> 00:23:53,560 These two came in. Otherwise, I would have had a big deal. 400 00:23:53,760 --> 00:23:55,960 - Peyush! - Let's go. 401 00:23:58,800 --> 00:24:00,600 [music playing] 402 00:24:04,520 --> 00:24:05,920 Welcome to ACKO Changemakers, 403 00:24:06,000 --> 00:24:07,320 where we really welcome change. 404 00:24:07,520 --> 00:24:10,880 And we saw a beautiful portrayal of this on our changemakers wall. 405 00:24:11,120 --> 00:24:12,640 With innovation and connectivity, 406 00:24:12,760 --> 00:24:15,480 we are creating a digitally empowered and sustainable future. 407 00:24:15,800 --> 00:24:17,480 And we have today's changemakers with us. 408 00:24:17,840 --> 00:24:19,120 Vijay, Karthik and Mahek. 409 00:24:19,360 --> 00:24:21,080 - It was an excellent pitch. - Thank you. 410 00:24:26,880 --> 00:24:28,440 That is when I make the payment. 411 00:24:28,520 --> 00:24:30,640 These days, there's one thing that most people are struggling with 412 00:24:30,680 --> 00:24:33,200 - and that is there are many frauds related to payments. - Yes. 413 00:24:33,280 --> 00:24:36,760 I have a question on behalf of the audience who is at home. 414 00:24:36,840 --> 00:24:39,120 What changes can they make in their daily lives, 415 00:24:39,200 --> 00:24:41,040 their approach, and their mindset 416 00:24:41,200 --> 00:24:43,320 to protect themselves from such frauds? 417 00:24:43,560 --> 00:24:46,120 If you get a link in an email 418 00:24:46,240 --> 00:24:50,840 - or SMS you need to verify whether the link is authentic. - Okay. 419 00:24:50,920 --> 00:24:53,040 Also, our product 420 00:24:53,120 --> 00:24:55,200 is not connected to your bank account, 421 00:24:55,320 --> 00:24:57,120 it is connected to UPI. 422 00:24:57,200 --> 00:24:59,560 You can use it, which has a good security feature. 423 00:24:59,680 --> 00:25:01,840 - You are bringing a good change. - Hmm. 424 00:25:01,920 --> 00:25:04,880 Similarly, ACKO, with their revolutionary offering, 425 00:25:05,000 --> 00:25:06,560 is transforming the insurance landscape. 426 00:25:06,800 --> 00:25:08,200 Now, while buying car insurance, 427 00:25:08,440 --> 00:25:09,800 you don't have to worry about numerous calls. 428 00:25:09,840 --> 00:25:12,560 Avoid confusion regarding price and policy coverage. 429 00:25:12,640 --> 00:25:14,200 Buy car insurance directly from ACKO. 430 00:25:14,280 --> 00:25:16,280 It's easy, transparent and hassle-free. 431 00:25:16,360 --> 00:25:17,520 And pay the right premium. 432 00:25:17,600 --> 00:25:19,200 To appreciate this change you are bringing 433 00:25:19,240 --> 00:25:20,880 and giving us your time on Shark Tank, 434 00:25:21,040 --> 00:25:24,280 we have a gift for you from Shark Tank and ACKO. 435 00:25:27,640 --> 00:25:28,640 Here you go. 436 00:25:29,640 --> 00:25:31,080 [camera shutter clicks] 437 00:25:44,760 --> 00:25:46,480 [theme music playing] 438 00:26:06,440 --> 00:26:09,000 Hi, Sharks. I am Anmol and I am 21 years old. 439 00:26:09,080 --> 00:26:11,600 - Oh my! - And I am Rohit Thakur, 24 years old. 440 00:26:11,680 --> 00:26:13,920 And we are The Future Animations. 441 00:26:17,680 --> 00:26:19,880 - Would you all like to see it? - Please show it to us. 442 00:26:19,960 --> 00:26:22,040 All five Shark deal. 443 00:26:24,000 --> 00:26:25,720 'Wow! That's exciting.' 444 00:26:25,800 --> 00:26:29,400 'You've built a great brand. Let's get it on the right boAt.' 445 00:26:29,480 --> 00:26:31,760 'Change your lenses and choose the right Shark. 446 00:26:31,840 --> 00:26:33,560 'You need to increase the value.' 447 00:26:33,640 --> 00:26:35,760 'So, Varun and I will come in together.' 448 00:26:35,840 --> 00:26:39,640 'I am unable to digest that you are even considering their offer.' 449 00:26:39,720 --> 00:26:41,520 [laughing] 450 00:26:42,880 --> 00:26:44,120 Crazy! 451 00:26:44,200 --> 00:26:45,760 - Really! - Lovely! 452 00:26:46,440 --> 00:26:49,600 So, Sharks! This is how the founders who come here envision their future. 453 00:26:49,760 --> 00:26:51,480 You never know, this could turn into reality. 454 00:26:51,520 --> 00:26:53,160 A similar future is what we envision as well. 455 00:26:53,200 --> 00:26:55,000 To elevate Indian animation to the global map 456 00:26:55,120 --> 00:26:57,320 with the exceptional quality of our animation. 457 00:26:57,480 --> 00:27:00,200 Where clients often face challenges like creative blocks, 458 00:27:00,280 --> 00:27:01,640 timeline delays, 459 00:27:08,160 --> 00:27:10,640 ...international-level, high-quality animations 460 00:27:10,720 --> 00:27:13,120 in less time and at a lower cost. 461 00:27:18,720 --> 00:27:20,200 and in the right skill set, 462 00:27:20,280 --> 00:27:22,960 rather than spending on expensive studios. 463 00:27:23,040 --> 00:27:25,640 We hire artists from around the globe. 464 00:27:29,560 --> 00:27:32,680 ...we simplify into four easy steps for them. 465 00:27:47,320 --> 00:27:49,680 Because of this, in the last four years, 466 00:27:49,800 --> 00:27:52,440 we've worked with more than 400 clients. 467 00:27:52,520 --> 00:27:56,080 Out of which 99% of clients are international. 468 00:28:02,480 --> 00:28:04,160 ...along with servicing clients, 469 00:28:04,240 --> 00:28:07,480 we would like to launch original content IPs 470 00:28:20,480 --> 00:28:23,160 - Anmol and Rohit, welcome to the Tank. - Thank you, sir. 471 00:28:23,240 --> 00:28:26,840 My first question to you is, can I see that again? 472 00:28:27,000 --> 00:28:28,000 Sure! 473 00:28:28,080 --> 00:28:29,440 - Let's do this. So fun! - Come on! 474 00:28:29,480 --> 00:28:31,360 - Let's watch it again. It was fun. - Super fun. 475 00:28:32,120 --> 00:28:33,840 'Wow! That's exciting.' 476 00:28:33,960 --> 00:28:37,400 'You've built a great brand. Let's get it on the right boAt.' 477 00:28:37,520 --> 00:28:39,320 'I will help you with my connections.' 478 00:28:39,440 --> 00:28:42,560 'My offer is Rs. 50 lakhs for 3%.' 479 00:28:45,240 --> 00:28:47,680 'I just did an ad with Karan Johar.' 480 00:28:47,760 --> 00:28:49,360 'They can't give you any connection.' 481 00:28:49,440 --> 00:28:51,760 'I will provide more connection than them.' 482 00:28:51,840 --> 00:28:54,280 'Change your lenses and choose the right Shark. 483 00:28:54,360 --> 00:28:56,800 'My offer is Rs. 75 lakhs for 4%.' 484 00:28:58,880 --> 00:29:01,880 'Listen, I won't sugarcoat like them.' 485 00:29:02,000 --> 00:29:03,800 'You need to increase the value.' 486 00:29:03,960 --> 00:29:06,360 'So, Varun and I will come in together.' 487 00:29:06,440 --> 00:29:09,560 'Rs. 1 crore for 6%.' 488 00:29:10,200 --> 00:29:13,440 'We will also team up. Will they give more value than us?' 489 00:29:13,600 --> 00:29:14,760 'Both of us are joining.' 490 00:29:14,880 --> 00:29:17,840 'We will give you Rs. 1 crore for 5%.' 491 00:29:18,760 --> 00:29:23,360 'I am unable to digest that you are even considering their offer.' 492 00:29:23,440 --> 00:29:25,440 'Listen to the real Shark's offer.' 493 00:29:25,520 --> 00:29:27,840 'I will give you Rs. 2 crores for 10%.' 494 00:29:29,880 --> 00:29:32,920 'Here is my cheque. I think we have a deal, guys.' 495 00:29:41,040 --> 00:29:42,480 [laughing] 496 00:29:43,560 --> 00:29:45,400 - Brilliant! - Impressive! 497 00:29:45,520 --> 00:29:47,000 Outstanding! 498 00:29:47,080 --> 00:29:48,800 - You got the characters right. - Oh my God! 499 00:29:49,000 --> 00:29:51,400 You've correctly identified both these opportunists. 500 00:29:51,480 --> 00:29:53,560 They were fighting and then they came together. 501 00:29:53,640 --> 00:29:55,040 Did you write the script? 502 00:29:55,120 --> 00:29:57,120 Yes! We worked on it from start to finish. 503 00:29:57,200 --> 00:29:58,800 - Amazing. - Very good. 504 00:29:58,920 --> 00:30:00,880 Give us your background. 505 00:30:01,000 --> 00:30:03,520 Your education and how you met. 506 00:30:03,680 --> 00:30:05,440 How did you come up with this? 507 00:30:05,520 --> 00:30:06,800 I was born and raised in Delhi. 508 00:30:06,880 --> 00:30:10,560 My dad is a labourer in construction. He is a worker. 509 00:30:11,880 --> 00:30:12,960 - Where? - In Delhi. 510 00:30:13,280 --> 00:30:17,280 My family never made us feel that we were poor. 511 00:30:17,640 --> 00:30:20,800 But when I was 15 years old in 11th grade, 512 00:30:21,000 --> 00:30:23,320 people would come home asking for money 513 00:30:23,400 --> 00:30:25,760 and leave after hurling abuses. That's when I realised 514 00:30:25,920 --> 00:30:29,160 our family was dealing with financial problems. 515 00:30:29,760 --> 00:30:32,520 Because of that, I decided to do something. 516 00:30:32,600 --> 00:30:34,080 I should at least be able to look after my expenses. 517 00:30:34,120 --> 00:30:36,640 So, I started teaching. I became a tutor. 518 00:30:36,720 --> 00:30:40,480 During that... We grew up watching cartoons. 519 00:30:40,640 --> 00:30:42,840 I was curious to know how animation works. 520 00:30:43,280 --> 00:30:46,720 So, I started learning animation by watching videos on YouTube. 521 00:30:46,880 --> 00:30:48,320 In 2017, I met Anmol 522 00:30:48,400 --> 00:30:49,800 while I was his tutor. 523 00:30:49,880 --> 00:30:52,160 During the day, I attended college, followed by teaching, 524 00:30:52,280 --> 00:30:54,920 and later worked at an international BPO in a call centre at night. 525 00:30:55,800 --> 00:30:57,920 Later, it became so stressful 526 00:30:58,000 --> 00:31:00,720 that I quit the place where I was teaching Anmol. 527 00:31:00,840 --> 00:31:02,880 I did that so that I could focus on my health. 528 00:31:03,120 --> 00:31:05,000 Anmol will tell you what happens next. 529 00:31:05,200 --> 00:31:06,960 After he stopped teaching, 530 00:31:07,200 --> 00:31:08,760 I quit the tuition too 531 00:31:08,840 --> 00:31:11,040 because I had a personal bond with him. 532 00:31:11,120 --> 00:31:14,480 We used to study, and along with that discuss business. 533 00:31:14,560 --> 00:31:16,240 We used to discuss animation. 534 00:31:16,440 --> 00:31:19,480 I told my dad that I wanted Rohit to teach me. 535 00:31:19,560 --> 00:31:20,880 So, my dad called him 536 00:31:20,960 --> 00:31:23,640 and asked him if he could come home to teach me. 537 00:31:23,760 --> 00:31:25,960 In 2019, he said he can teach me. 538 00:31:26,200 --> 00:31:28,400 When he started teaching me from home, 539 00:31:28,520 --> 00:31:31,480 mid-2019, my dad lost his job. 540 00:31:31,920 --> 00:31:35,800 My dad shared our financial condition with him. 541 00:31:35,920 --> 00:31:37,400 He told him he can't pay his fees. 542 00:31:37,520 --> 00:31:40,200 He still didn't back off from teaching me. 543 00:31:40,320 --> 00:31:42,080 He taught me for the entire year. 544 00:31:42,160 --> 00:31:45,320 In February, I told him that the computer I have at home 545 00:31:45,440 --> 00:31:47,240 is not the right computer to learn animations on. 546 00:31:47,240 --> 00:31:48,600 I also wanted to learn animations. 547 00:31:48,680 --> 00:31:52,360 What he did was he bought a laptop for me 548 00:31:52,480 --> 00:31:54,560 from his friend's credit card on EMI. 549 00:31:54,640 --> 00:31:55,920 He gave it to me to learn animations. 550 00:31:55,920 --> 00:31:57,280 From your friend's credit card? 551 00:31:57,360 --> 00:31:59,600 Yes! I didn't have a credit card back then. 552 00:31:59,760 --> 00:32:02,000 And then when my school was over in March... 553 00:32:02,120 --> 00:32:04,320 Everyone is aware that there was a lockdown in 2020. 554 00:32:04,480 --> 00:32:06,960 I was 17 years old when I created a profile on Upwork. 555 00:32:13,320 --> 00:32:16,400 He and I finished making that video by 29th May. 556 00:32:16,480 --> 00:32:19,160 It was a project of 100 dollars. And he gave us 20 dollars as a tip. 557 00:32:19,240 --> 00:32:21,000 To be specific, he gave us 21 dollars as a tip. 558 00:32:21,040 --> 00:32:22,320 When he gave us that tip, 559 00:32:22,440 --> 00:32:25,120 - I was over the moon for creating a crazy video. - Wow. 560 00:32:25,200 --> 00:32:27,920 That's why he gave me a tip. 561 00:32:28,080 --> 00:32:29,680 We were quite excited. 562 00:32:29,800 --> 00:32:32,600 But the next day, my Upwork account was suspended. 563 00:32:33,000 --> 00:32:34,760 They sent me a mail saying I was underage. 564 00:32:34,880 --> 00:32:36,960 So, instead of my account, 565 00:32:37,040 --> 00:32:40,440 I started using his account because he was above 18. 566 00:32:40,560 --> 00:32:42,640 That's how our animation journey started. 567 00:32:42,720 --> 00:32:43,720 That's amazing. 568 00:32:43,800 --> 00:32:45,360 [claps] 569 00:32:45,880 --> 00:32:46,800 What happened next? 570 00:32:46,880 --> 00:32:49,280 First, I got 100 dollars. Then, 120 dollars. 571 00:32:49,400 --> 00:32:52,040 And my third or fourth project was for 800 dollars. 572 00:32:52,200 --> 00:32:53,320 We were overbooked. 573 00:32:53,400 --> 00:32:55,200 And we started receiving the projects 574 00:32:55,320 --> 00:32:57,280 that were out of our skill set. 575 00:32:57,360 --> 00:33:01,000 Then, we decided to work on the business instead of in the business. 576 00:33:01,480 --> 00:33:03,680 If kept working in the business 577 00:33:03,760 --> 00:33:05,640 and making animations for them all by ourselves, 578 00:33:05,720 --> 00:33:08,320 we wouldn't be able to scale up and remain freelancers. 579 00:33:08,480 --> 00:33:11,240 So, we started building a team in a couple of months. 580 00:33:11,320 --> 00:33:12,120 And hired animation artists. 581 00:33:12,200 --> 00:33:15,320 And did that team work as freelancers for you? 582 00:33:15,400 --> 00:33:17,600 Yes. They worked as freelancers for us at that time. 583 00:33:17,680 --> 00:33:19,960 But then, down the line, we hired them permanently. 584 00:33:26,640 --> 00:33:29,560 - Yes, sir. - Is it a partnership, sole proprietorship 585 00:33:29,640 --> 00:33:30,760 or a free agency? 586 00:33:30,840 --> 00:33:32,880 No, sir. Currently, it is a sole proprietorship. 587 00:33:32,960 --> 00:33:35,120 But we are planning to covert to private limited. 588 00:33:35,440 --> 00:33:37,640 With this current service business, 589 00:33:37,720 --> 00:33:39,600 how much do you earn per annum? 590 00:33:39,680 --> 00:33:42,400 Our revenue for the previous year was Rs 1.6 Cr. 591 00:33:42,960 --> 00:33:45,000 And how much have you earned in the first half of this year? 592 00:33:45,040 --> 00:33:46,320 Approximately Rs 27 lakhs. 593 00:33:46,440 --> 00:33:49,040 And do you have a good profit margin? 594 00:33:49,160 --> 00:33:51,120 - Yes. - Yes, sir. Our net margin 595 00:34:00,200 --> 00:34:02,080 We withdraw a salary of Rs 50,000 each. 596 00:34:02,160 --> 00:34:04,000 And the margin I told you is after deducting our salaries. 597 00:34:04,040 --> 00:34:07,560 And we invest the remaining money in R&D. 598 00:34:07,640 --> 00:34:10,280 So that we can deliver better quality animations. 599 00:34:10,360 --> 00:34:14,000 I don't think you have many animators globally. 600 00:34:14,360 --> 00:34:17,560 - We have five permanent employees. - Okay. 601 00:34:17,640 --> 00:34:20,280 And additionally, if we have extra projects, 602 00:34:20,360 --> 00:34:24,080 we add freelance artists to our core team 603 00:34:24,160 --> 00:34:25,240 to meet the project demand. 604 00:34:25,280 --> 00:34:26,480 Where are these five based at? 605 00:34:26,600 --> 00:34:29,840 Two are from Brazil, two are from India, and one is from Indonesia. 606 00:34:34,960 --> 00:34:36,200 How do you make the work easy? 607 00:34:36,320 --> 00:34:39,040 Or do you use the normal creator tools? 608 00:34:39,160 --> 00:34:41,040 We use the free source Blender right now. 609 00:34:41,120 --> 00:34:43,480 We use different software as per the project's requirement. 610 00:34:43,880 --> 00:34:45,800 We have a process. 611 00:34:45,880 --> 00:34:49,760 First, we sent such kinds of sketches to our clients. 612 00:34:49,880 --> 00:34:51,960 And then, we send them a video storyboard. 613 00:35:01,000 --> 00:35:02,000 Got it. 614 00:35:08,880 --> 00:35:12,320 Your run rate was Rs 1 crore profit per annum, right? 615 00:35:12,480 --> 00:35:14,400 Including salary and all. 616 00:35:14,480 --> 00:35:18,080 So, what do your parents think? Are there discussions in the house? 617 00:35:18,360 --> 00:35:20,280 How did this happen? 618 00:35:20,440 --> 00:35:22,240 You must be celebrities at home. 619 00:35:22,640 --> 00:35:25,240 When I passed 12th grade in 2016, 620 00:35:25,320 --> 00:35:27,360 my family was struggling with financial problems. 621 00:35:27,440 --> 00:35:30,480 My brother had enrolled himself in a B.Tech course. 622 00:35:30,600 --> 00:35:33,880 So, I decided to focus on earning. 623 00:35:34,040 --> 00:35:35,840 My brother had also cleared the IAS examination. 624 00:35:35,840 --> 00:35:37,640 - Oh, wow! - Very good. 625 00:35:37,760 --> 00:35:39,360 It was not as difficult as it sounds. 626 00:35:39,440 --> 00:35:41,240 But it is something... 627 00:35:41,480 --> 00:35:43,880 - Determination - Yes, we followed the situation. 628 00:35:43,960 --> 00:35:45,840 We just looked forward. 629 00:35:45,920 --> 00:35:47,120 Where does your brother work now? 630 00:35:47,160 --> 00:35:50,400 He cracked UPSC IES engineering service in 2023. 631 00:35:50,480 --> 00:35:52,720 - So, he will be trained now. - Okay. 632 00:35:52,800 --> 00:35:54,280 - Did you buy a bike or a car? - Oh, wow! 633 00:35:54,320 --> 00:35:55,680 I bought a scooter. 634 00:35:55,760 --> 00:35:59,440 - Did you? - And we took our parents to Goa a few months ago. 635 00:36:01,960 --> 00:36:03,240 Well done, man. 636 00:36:03,920 --> 00:36:07,200 In the beginning, you said you had a vision 637 00:36:07,400 --> 00:36:10,920 about having your own content and IPO. 638 00:36:11,000 --> 00:36:12,640 If you look at Indian animation, 639 00:36:12,720 --> 00:36:14,480 - it has no impact globally. - That's right. 640 00:36:14,560 --> 00:36:17,000 But people go to the theatres to watch Pixar-Disney movies. 641 00:36:17,080 --> 00:36:18,760 So, our vision is to create 642 00:36:18,880 --> 00:36:21,200 an original content IP. 643 00:36:21,280 --> 00:36:24,040 Just like Marvel and Disney, if we look for something similar 644 00:36:24,240 --> 00:36:27,200 in the Indian culture and show proper creativity, 645 00:36:27,320 --> 00:36:29,040 we can also make such animated movies. 646 00:36:29,120 --> 00:36:31,440 We want Indian Animation to have a global impact. 647 00:36:31,560 --> 00:36:35,200 So, we will have to compete with Disney and Japanese level quality. 648 00:36:35,320 --> 00:36:36,760 So, this is our target for two years. 649 00:36:36,840 --> 00:36:38,760 We will work with the clients, 650 00:36:39,000 --> 00:36:40,400 product producers, 651 00:36:40,480 --> 00:36:42,840 and huge projects to gain experience. 652 00:36:42,920 --> 00:36:45,240 And we will constantly do R&D 653 00:36:45,320 --> 00:36:46,920 to improvise the animation quality. 654 00:36:47,000 --> 00:36:48,520 We have achieved the Pixar quality. 655 00:36:48,600 --> 00:36:50,240 - Could you please show us? - Show us. 656 00:36:51,440 --> 00:36:54,040 'Hey, friend! This is me. Morissa.' 657 00:36:54,400 --> 00:36:56,440 [whistling] 658 00:36:58,200 --> 00:36:59,680 'And that's my family.' 659 00:36:59,800 --> 00:37:02,920 'We love going on outdoor adventures together.' 660 00:37:04,880 --> 00:37:06,600 'We laugh. We play.' 661 00:37:06,680 --> 00:37:09,400 - 'And we are always here for each other.' - Got it. 662 00:37:10,080 --> 00:37:12,360 [gentle music] 663 00:37:12,440 --> 00:37:14,400 - Very nice. - Beautiful. 664 00:37:14,520 --> 00:37:15,760 'Any other way.' 665 00:37:15,880 --> 00:37:18,400 So, you get all the business from Upwork. 666 00:37:18,480 --> 00:37:20,840 We got 70% from Upwork last year. 667 00:37:20,960 --> 00:37:23,120 And we have also received 70% business from there this year, too. 668 00:37:23,160 --> 00:37:25,360 And 30% of our business is offline. 669 00:37:25,440 --> 00:37:27,840 We reach out to leads. 670 00:37:27,920 --> 00:37:30,560 - I have 56K followers on Instagram. - Oh, wow! 671 00:37:30,640 --> 00:37:33,400 We get clients from there. And some from LinkedIn. 672 00:37:33,480 --> 00:37:35,240 What was your track record in the past couple of months? 673 00:37:35,240 --> 00:37:38,400 Our business suffered a setback in August. 674 00:37:38,520 --> 00:37:42,400 - Rohit's Upwork profile was suspended permanently. - Why? 675 00:37:46,920 --> 00:37:48,480 - You can work individually. - Yes. 676 00:37:48,560 --> 00:37:51,000 We both would go to the meetings. The client would write our names. 677 00:37:51,000 --> 00:37:52,880 So, a lot of reviews had accumulated there 678 00:37:52,960 --> 00:37:54,440 with the names Rohit and Anmol. 679 00:37:54,520 --> 00:37:57,320 That's why we lost our well-established profile. 680 00:37:57,400 --> 00:38:00,080 - So, what was your revenue in September? - Rs 8 lakhs. 681 00:38:00,160 --> 00:38:01,560 Yes. So... 682 00:38:01,680 --> 00:38:02,680 How is it now? 683 00:38:02,800 --> 00:38:05,520 It is good now. But the thing is... 684 00:38:05,600 --> 00:38:08,640 Earlier, we used to earn Rs 20 lakhs a month. 685 00:38:11,720 --> 00:38:14,120 We have started reaching out to the clients. 686 00:38:14,200 --> 00:38:18,160 In the past couple of months, we have sent more than 10,000 emails. 687 00:38:23,760 --> 00:38:26,200 ...has signed a deal with us. He is a foreign YouTuber. 688 00:38:26,280 --> 00:38:28,440 He is giving us work worth 4000 dollars per month. 689 00:38:33,840 --> 00:38:35,800 Only two businesses have been converted so far. 690 00:38:35,880 --> 00:38:38,560 We are in talks with 15-20 more businesses. 691 00:38:38,640 --> 00:38:40,360 What is the size of those two businesses? 692 00:38:40,440 --> 00:38:43,560 One of them is the YouTuber, and the other is New York production house. 693 00:38:43,680 --> 00:38:46,400 - How much is that paying you? - A project of 5000 dollars for now. 694 00:38:46,520 --> 00:38:49,160 But down the line, they want to make a series of 11 minutes each. 695 00:38:49,240 --> 00:38:50,120 Got it. 696 00:38:50,240 --> 00:38:53,440 Rohit and Anmol, I respect your journey. 697 00:38:53,920 --> 00:38:57,280 But your business is not investable at this point. 698 00:38:57,400 --> 00:38:59,040 For that reason, I am out. 699 00:38:59,960 --> 00:39:02,320 But you have done a really great job. 700 00:39:02,480 --> 00:39:04,520 - Thank you. - You've reached a good point. 701 00:39:05,200 --> 00:39:07,720 If we want to invest in a business, 702 00:39:07,800 --> 00:39:09,920 that business should have an ability to compound. 703 00:39:10,000 --> 00:39:12,800 And there are a few things which can help you achieve that. 704 00:39:12,920 --> 00:39:15,800 Your process should be strong. 705 00:39:15,880 --> 00:39:18,640 Like, every new project 706 00:39:18,720 --> 00:39:21,040 should be significantly cheaper than the previous one. 707 00:39:21,160 --> 00:39:25,080 Or you should have an original software technology. 708 00:39:25,160 --> 00:39:26,440 Or you should have an IP. 709 00:39:26,520 --> 00:39:29,480 But your business has none of the three right now. 710 00:39:29,560 --> 00:39:31,800 For that reason, I am out. 711 00:39:32,720 --> 00:39:34,480 And I am not sugarcoating. 712 00:39:34,560 --> 00:39:36,360 I am inspired by your story. 713 00:39:36,360 --> 00:39:38,400 And I am sure India will be inspired, too. 714 00:39:39,440 --> 00:39:42,480 Unfortunately, I am also out because of a couple of reasons. 715 00:39:43,440 --> 00:39:46,160 I think this industry will always have hiring issues. 716 00:39:46,280 --> 00:39:47,960 You will also have to upscale. 717 00:39:48,040 --> 00:39:51,560 Because this industry gets old very fast. 718 00:39:51,680 --> 00:39:53,960 If you don't upscale your work, 719 00:39:54,040 --> 00:39:56,760 what you are doing will become redundant after two years. 720 00:39:56,840 --> 00:40:00,320 And I think AI is also an issue. 721 00:40:00,440 --> 00:40:02,480 Many industries will survive. 722 00:40:02,720 --> 00:40:05,840 But this is the first industry which will be disrupted. 723 00:40:06,640 --> 00:40:09,200 Brace yourselves for something else coming up. 724 00:40:09,280 --> 00:40:12,040 And unfortunately, I am out. 725 00:40:12,280 --> 00:40:13,520 Thank you. 726 00:40:13,640 --> 00:40:16,000 I think what you should do. 727 00:40:16,240 --> 00:40:19,360 You are young. Your age is 21 and 24. 728 00:40:19,600 --> 00:40:21,000 For the next 4-5 years, 729 00:40:21,320 --> 00:40:24,240 you should do animation work for others. 730 00:40:24,760 --> 00:40:28,800 Wait for the Indian market to mature to create an IP. 731 00:40:29,000 --> 00:40:30,360 This is not the right time. 732 00:40:30,440 --> 00:40:33,720 If you get into that right now, you will lose a lot of money. 733 00:40:34,720 --> 00:40:35,960 And embrace AI. 734 00:40:36,040 --> 00:40:38,960 - What you make embracing AI... - Exactly. 735 00:40:39,040 --> 00:40:42,800 Human+AI is far more powerful than just AI. 736 00:40:43,000 --> 00:40:46,240 - I am out. Good luck, guys. Truly inspiring. - Thank you, sir. 737 00:40:46,920 --> 00:40:49,720 The animation you showed us today, 738 00:40:49,840 --> 00:40:51,440 it was hilarious, by the way. 739 00:40:51,520 --> 00:40:53,520 How much does it cost to your client? 740 00:40:53,640 --> 00:40:56,600 This animation costs around Rs 1 lakh. 741 00:40:56,680 --> 00:40:59,280 That's it. So, you sell this to the client for Rs 2 lakh. 742 00:41:06,040 --> 00:41:08,880 - Okay. - Right. But if you convert to a private limited firm, 743 00:41:08,960 --> 00:41:11,680 then I will give you Rs 50 lakhs. 744 00:41:13,200 --> 00:41:16,120 We will take 10% equity in that business. 745 00:41:16,200 --> 00:41:18,880 And the services of Rs 50 lakh 746 00:41:19,040 --> 00:41:22,240 will be given to you by my company. 747 00:41:22,800 --> 00:41:26,080 At a preferred or fair market value. 748 00:41:26,240 --> 00:41:29,760 You will supply us the services that we ask for. 749 00:41:32,440 --> 00:41:33,880 That's my offer to you. 750 00:41:34,680 --> 00:41:35,720 Make a decision quickly. 751 00:41:35,840 --> 00:41:39,240 [indistinct dialogues] 752 00:41:39,320 --> 00:41:40,480 Right. 753 00:41:41,000 --> 00:41:42,000 Let's take it. 754 00:41:42,080 --> 00:41:43,720 - Yes, Peyush. We take it. - We accept it. 755 00:41:50,160 --> 00:41:52,360 I am glad he appreciated our hard work. 756 00:41:52,440 --> 00:41:57,040 It's a great opportunity for us to make videos for Lenskart. 757 00:41:57,240 --> 00:42:01,200 And we will also get Peyush's connections. So, we will grow. 758 00:42:02,080 --> 00:42:03,200 Cool structure. 759 00:42:03,280 --> 00:42:04,600 - Cool structure. - Yeah. 760 00:42:04,720 --> 00:42:06,440 I have done this for three years 761 00:42:06,560 --> 00:42:08,760 in my start-up journey. Amit Chaudhary and I 762 00:42:08,840 --> 00:42:10,840 used to look up for work on Freelancer.in. 763 00:42:10,960 --> 00:42:13,400 And especially, their background... 764 00:42:13,480 --> 00:42:14,800 They come from a middle-class background. 765 00:42:14,840 --> 00:42:16,000 But I found them genuine. 766 00:42:16,080 --> 00:42:18,720 - Very genuine. - And their chemistry was also unique. 767 00:42:18,800 --> 00:42:19,800 - Yes. - Very transparent. 768 00:42:19,880 --> 00:42:22,280 - Hello, Anmol and Rohit. How are you? - Great. 769 00:42:22,360 --> 00:42:24,720 Welcome to the PokerBaazi zone, where you hold the cards. 770 00:42:24,800 --> 00:42:28,160 - You did the serious talks there. Let's keep it light here. - Yes. 771 00:42:28,240 --> 00:42:31,120 Poker and business are quite similar. 772 00:42:31,200 --> 00:42:33,280 Tables can turn in both at any time. 773 00:42:38,360 --> 00:42:39,400 Okay. 774 00:42:40,000 --> 00:42:42,080 Then, it's turn. 775 00:43:07,160 --> 00:43:10,120 During the introduction phase, we had to make a lot of decisions. 776 00:43:10,200 --> 00:43:14,800 So, I decided to work on the business not in the business. 777 00:43:14,920 --> 00:43:17,720 And I learned a lot from that. 778 00:43:17,800 --> 00:43:20,440 And down the line, that decision 779 00:43:20,520 --> 00:43:23,080 helped us grow a lot. 780 00:43:23,160 --> 00:43:24,720 I see. That's great. 781 00:43:24,800 --> 00:43:27,200 I just saw the cards placed in front of us. 782 00:43:27,280 --> 00:43:28,680 If this was our hand, 783 00:43:54,040 --> 00:43:56,040 Go and download the PokerBaazi App now! 784 00:43:56,120 --> 00:43:59,080 'Shark Tank India Co-presented by Acko Insurance,' 785 00:43:59,160 --> 00:44:01,240 'PokerBaazi and Swiggy Instamart.' 786 00:44:01,320 --> 00:44:03,960 'Co-powered by Adani and Jaquar Bathroom lights.' 787 00:44:04,040 --> 00:44:07,080 'Special partners, Rayzon Solar, ICICI direct,' 788 00:44:07,160 --> 00:44:08,800 'Lenskart and Sofy.' 789 00:44:09,040 --> 00:44:11,560 [motivational music playing] 790 00:44:30,600 --> 00:44:34,880 Thomas Alva Edison, Albert Einstein, and Elon Musk are the greats. 791 00:44:35,160 --> 00:44:37,760 But Sharks, do you know what else is common in them? 792 00:44:53,760 --> 00:44:55,840 These symptoms begin to show at the age of two. 793 00:45:07,600 --> 00:45:09,680 And every kid between 2 to 8 years 794 00:45:09,760 --> 00:45:12,120 should be screened. 795 00:45:16,680 --> 00:45:18,920 The sooner you identify the symptoms, 796 00:45:19,000 --> 00:45:22,920 the sooner you get help to change your life for the better. 797 00:45:23,040 --> 00:45:26,360 And in India, 2.5 crore babies are born every year. 798 00:45:26,480 --> 00:45:28,280 Out of which, 1.5% kids have autism. 799 00:45:33,080 --> 00:45:36,000 ...because autism screening doesn't take place on mass level. 800 00:45:45,400 --> 00:45:48,760 And to solve this problem, we came up with Ai.gnosis. 801 00:45:56,560 --> 00:45:59,600 Ai.gnosis is an AI-based ecosystem 802 00:46:27,800 --> 00:46:30,120 Welcome to Shark Tank India, Season 4. 803 00:46:30,200 --> 00:46:31,760 Nice name. Creative. 804 00:46:31,920 --> 00:46:32,760 - Thank you. - Thank you. 805 00:46:32,880 --> 00:46:36,200 - But this word came up from diagnosis, right? - Yes. 806 00:46:36,280 --> 00:46:40,040 But a person with an illness is diagnosed, right? 807 00:46:40,280 --> 00:46:42,920 Have we stigmatised autism? 808 00:46:43,840 --> 00:46:48,160 Because now it is said, autism is the new superpower. 809 00:46:48,240 --> 00:46:49,560 Anupam, it's a good point. 810 00:46:49,680 --> 00:46:52,240 We are here to destigmatise autism. 811 00:46:52,320 --> 00:46:54,600 An autistic child is also smart. 812 00:46:54,720 --> 00:46:57,880 If he develops interest in a particular skill, 813 00:46:57,960 --> 00:47:00,280 he can be much better at it 814 00:47:00,400 --> 00:47:02,000 than the rest of us. 815 00:47:02,080 --> 00:47:04,960 Autism causes developmental delay. 816 00:47:05,040 --> 00:47:07,760 For example, the neuroplasticity of a child's brain 817 00:47:07,960 --> 00:47:11,200 starts becoming loose from age 2 to 5. 818 00:47:11,320 --> 00:47:13,800 So, if it is detected early, 819 00:47:13,920 --> 00:47:16,600 the worse symptoms of the autistic children 820 00:47:16,680 --> 00:47:18,040 can be controlled. 821 00:47:18,120 --> 00:47:21,160 But as you said, many kids are gifted. 822 00:47:21,440 --> 00:47:25,440 And that gift can still help them reach their potential. 823 00:47:25,560 --> 00:47:28,160 We have seen mothers of seven years old coming to us and saying 824 00:47:28,240 --> 00:47:30,200 'No, no. He is a bit shy.' 825 00:47:30,280 --> 00:47:32,240 Even when the kid hasn't started speaking at all. 826 00:47:32,320 --> 00:47:34,960 We want the early red flags 827 00:47:35,040 --> 00:47:38,800 which hamper the kids' social communication skills 828 00:47:38,920 --> 00:47:40,280 to be detected soon. 829 00:47:40,360 --> 00:47:42,920 I fully agree with your cause. I have had the experience. 830 00:47:43,000 --> 00:47:46,640 Mild autism and severe autism. I have seen them both. 831 00:47:46,720 --> 00:47:49,360 The mild one is a socially awkward child. 832 00:47:49,480 --> 00:47:52,360 You can intervene and make him normal. 833 00:47:52,440 --> 00:47:54,000 But I have seen a situation 834 00:47:54,080 --> 00:47:55,920 where what you just said has exactly happened. 835 00:47:56,000 --> 00:47:58,360 They kept postponing the detection saying the kid was fine. 836 00:47:58,440 --> 00:48:00,040 - How could anything happen to our kid? - Yeah. 837 00:48:00,040 --> 00:48:01,680 They said he was normal and intelligent. 838 00:48:01,800 --> 00:48:04,600 Parents take a huge time to accept 839 00:48:04,680 --> 00:48:06,480 that there could be a problem. 840 00:48:06,560 --> 00:48:10,400 By the time, when the kid turns 10-12 years old, 841 00:48:10,480 --> 00:48:13,840 there is deep aggression, awkward behaviour, 842 00:48:14,160 --> 00:48:16,960 throwing things... Controlling them after that is difficult. 843 00:48:17,080 --> 00:48:21,360 So, early detection and therapy can help, I believe. 844 00:48:21,560 --> 00:48:22,440 - Definitely. - Yes. 845 00:48:22,520 --> 00:48:24,720 Divyansh and Raksheet, how old are you? 846 00:48:24,800 --> 00:48:26,720 - I am 22 years old. - And I am 26 years old. 847 00:48:26,800 --> 00:48:28,600 How did you meet? And why did you start this? 848 00:48:28,720 --> 00:48:30,600 Both our parents are doctors. 849 00:48:30,680 --> 00:48:34,320 Our fathers are paediatricians and they studied together. 850 00:48:34,400 --> 00:48:35,080 - Wow! - Nice! 851 00:48:35,160 --> 00:48:36,600 My mother is a general surgeon, 852 00:48:36,600 --> 00:48:38,680 - and his mother is a gynaecologist. - Yes. 853 00:48:38,760 --> 00:48:41,480 - I did my schooling from Bhavan's Vidyashram, Jaipur. - Okay. 854 00:48:41,600 --> 00:48:45,360 Then, I did my college from Virginia Tech and NMIMS. 855 00:48:51,080 --> 00:48:52,840 I moved to Jaipur when I was 8 years old. 856 00:48:52,920 --> 00:48:56,400 While I lived in the village, I was connected to the nature. 857 00:48:56,680 --> 00:48:58,680 And I developed interest in science. 858 00:48:58,760 --> 00:49:02,280 Then, I did my bachelors and masters from BITS Pilani. 859 00:49:04,720 --> 00:49:06,040 So, I went to Europe. 860 00:49:06,080 --> 00:49:08,560 I was doing research on applying AI to quantum theory. 861 00:49:08,600 --> 00:49:09,600 You seem well-educated. 862 00:49:09,680 --> 00:49:11,280 You are a rocket scientist! 863 00:49:11,400 --> 00:49:13,600 - AI and quantum theory! Wow! - Amazing. 864 00:49:13,680 --> 00:49:16,800 Then I realised that my research output 865 00:49:16,880 --> 00:49:18,440 was very valuable. 866 00:49:18,520 --> 00:49:20,320 But it had 1x impact. 867 00:49:20,400 --> 00:49:22,640 I wanted it to have 100 or 1000x impact. 868 00:49:22,800 --> 00:49:24,160 So, when I returned to India, 869 00:49:24,280 --> 00:49:28,680 I spoke to Raksheet and realised healthcare was the best option. 870 00:49:28,840 --> 00:49:33,200 Divyansh's father also owns child developmental centres. 871 00:49:33,320 --> 00:49:34,760 And we saw there 872 00:49:34,840 --> 00:49:36,800 that if someone wants to get their kid examined 873 00:49:36,880 --> 00:49:39,640 to detect autism, 874 00:49:39,720 --> 00:49:42,400 - they have to wait for 6 months. - Crazy. 875 00:49:42,520 --> 00:49:44,480 And this is not just our observation. 876 00:49:44,600 --> 00:49:47,200 This is Dr S Sitaraman's observation. 877 00:49:47,280 --> 00:49:52,240 He is our mentor and vice-chancellor at Indian College of Pediatrics. 878 00:49:52,360 --> 00:49:54,040 He is like an authority in India. 879 00:49:54,120 --> 00:49:57,640 And we asked him if the waiting period was genuinely 6 months, 880 00:49:57,720 --> 00:49:59,440 and he was like... 'Look at my calendar.' 881 00:49:59,520 --> 00:50:02,080 Then, he said we were from AI background. 882 00:50:02,200 --> 00:50:04,600 Duke Sanford was doing some research, 883 00:50:04,680 --> 00:50:07,840 and he personally had insights on how we could do this. 884 00:50:07,920 --> 00:50:11,000 Where we can impact India, why not the world? 885 00:50:18,720 --> 00:50:21,560 And then we finally came to what Ai.gnosis is today 886 00:50:21,680 --> 00:50:23,720 and we have a product ready. 887 00:50:23,800 --> 00:50:25,120 Let's go to the product demo. 888 00:50:25,200 --> 00:50:26,000 - Yes, please. - Let's see it. 889 00:50:26,080 --> 00:50:29,160 - We'd like to call my sister-in-law and niece Jinaya, - Oh, wow. 890 00:50:29,200 --> 00:50:30,320 who is a three-year-old. 891 00:50:30,520 --> 00:50:32,480 She'll sit on her mother's lap 892 00:50:32,560 --> 00:50:35,200 - and the five-minute video that she's meant to see - How sweet. 893 00:50:35,280 --> 00:50:37,120 we've made into a one-minute video for the demo. 894 00:50:37,120 --> 00:50:38,960 - Okay. - We will explain her report 895 00:50:39,040 --> 00:50:40,880 - from the test that we had done earlier. - Wonderful. 896 00:50:40,880 --> 00:50:43,080 - Can I please bring Jinaya? - Superb. Please bring her. 897 00:50:43,120 --> 00:50:44,240 Yes. 898 00:50:44,680 --> 00:50:46,600 - Hi. - Hi, Jinaya. - Hello. 899 00:50:46,680 --> 00:50:47,960 Such a cutie. 900 00:50:50,440 --> 00:50:53,400 In our test, we give a pair of sunglasses for the mother, 901 00:50:53,480 --> 00:50:56,200 - because even the mother's eyes can get tracked. - Ah! 902 00:50:56,280 --> 00:50:58,800 Our model is such that it identifies facial emotions. 903 00:50:58,880 --> 00:51:00,520 But with sunglasses, it won't do that. 904 00:51:00,640 --> 00:51:01,760 Very interesting. 905 00:51:01,840 --> 00:51:04,880 Jinaya will watch a demo video now. 906 00:51:08,240 --> 00:51:09,240 [buzz sounds] 907 00:51:10,840 --> 00:51:11,880 [laughing] 908 00:51:12,480 --> 00:51:15,200 [baby laughing] 909 00:51:17,800 --> 00:51:19,480 [baby crying] 910 00:51:20,040 --> 00:51:23,440 'What is this? This is a ball.' 911 00:51:25,160 --> 00:51:26,480 Jinaya. 912 00:51:26,720 --> 00:51:29,720 [music playing] 913 00:51:29,800 --> 00:51:32,160 Okay, Sharks. We will send Jinaya and her mother back. 914 00:51:32,240 --> 00:51:34,240 And we will explain what you saw just now. 915 00:51:34,320 --> 00:51:36,480 - Thank you. - Thank you, Jinaya. - Thank you, Jinaya. 916 00:51:36,560 --> 00:51:37,360 Bye. 917 00:51:37,440 --> 00:51:38,960 - Bye. - Thank you. - Say, bye. 918 00:51:39,280 --> 00:51:41,120 - Bye. - Bye. 919 00:51:41,200 --> 00:51:42,360 - Bye. - Such a good girl. 920 00:51:42,480 --> 00:51:44,080 You can see on the right side, 921 00:51:44,160 --> 00:51:46,720 a parent is blowing bubbles and interacting with his child. 922 00:51:46,800 --> 00:51:49,040 On the left side, some geometric patterns are playing. 923 00:51:49,120 --> 00:51:51,360 When we map a child's attention naturally, 924 00:51:51,440 --> 00:51:53,480 a child between the ages two and eight watches 925 00:51:53,560 --> 00:51:56,440 social cues. They like to see faces. 926 00:51:56,560 --> 00:52:00,680 - But an autistic child prefers to watch patterns. - That's right. 927 00:52:00,760 --> 00:52:03,920 - Oh. - Now, this is facial emotions recognition, Sharks. 928 00:52:04,520 --> 00:52:07,520 'What is this? This is a ball.' 929 00:52:07,600 --> 00:52:11,920 Both Jinaya and I will first look at the mother's face and then the ball. 930 00:52:12,040 --> 00:52:14,080 But when the video played and we did our studies, 931 00:52:14,200 --> 00:52:17,720 we saw that kids were looking at the picture of the train on the top. 932 00:52:17,800 --> 00:52:21,080 - Oh. - Because they don't want to interact with that area of interest. 933 00:52:21,160 --> 00:52:22,720 - I was also looking there. - This is very interesting. 934 00:52:22,720 --> 00:52:24,760 'This is called, Please call your child's name.' 935 00:52:25,320 --> 00:52:28,200 If you call out to an autistic child five times, 936 00:52:28,280 --> 00:52:30,160 they will respond once. 937 00:52:30,320 --> 00:52:32,120 And then we create a report. 938 00:52:32,560 --> 00:52:34,640 Jinaya's results indicated that 939 00:52:34,720 --> 00:52:36,520 she's a child with normal behaviour 940 00:52:36,640 --> 00:52:39,200 suggesting there is no area of concern. 941 00:52:39,880 --> 00:52:41,360 I can do this at home. 942 00:52:41,560 --> 00:52:43,680 - You cannot do this at home, on today's date. - Why? 943 00:52:49,600 --> 00:52:52,280 And this is just one feature. We have 17 features, for example, 944 00:52:52,360 --> 00:52:55,000 head movement, body movement, repetitive movement, 945 00:52:55,120 --> 00:52:57,680 - area of expertise... - These 17 features 946 00:52:57,880 --> 00:53:00,560 are surface-level features which we are creating in the report. 947 00:53:00,640 --> 00:53:02,560 Actually, there are around 88 features 948 00:53:02,640 --> 00:53:04,080 which we make in layers. 949 00:53:04,200 --> 00:53:05,720 But this report that you've made, 950 00:53:05,800 --> 00:53:07,720 the one who reads it also will be a doctor. 951 00:53:07,800 --> 00:53:09,800 - Yes. Parents also get it. - Then... 952 00:53:09,880 --> 00:53:12,480 Then they'll have to wait for another six months. 953 00:53:12,560 --> 00:53:13,840 This is where we come in. 954 00:53:13,920 --> 00:53:15,560 Please explain the model to us. 955 00:53:15,960 --> 00:53:17,280 It's a B2B model. 956 00:53:17,440 --> 00:53:20,360 We have an MoU with over 250 centres, 957 00:53:20,440 --> 00:53:23,080 which have diagnostic centres and paediatric clinics. 958 00:53:36,640 --> 00:53:38,240 So, you are pre-launch and pre-revenue. 959 00:53:38,360 --> 00:53:39,520 - Yes. - Okay. Good. 960 00:53:39,600 --> 00:53:41,400 We charge Rs 700. 961 00:53:42,760 --> 00:53:47,360 In that 20% goes as partnership fees to the centre. 962 00:53:47,480 --> 00:53:49,640 Rs 60 goes as server cost. 963 00:53:49,720 --> 00:53:51,920 - Which is around... - Rs 140 is the partnership fee. 964 00:53:52,000 --> 00:53:54,120 We have around seven to eight per cent marketing cost. 965 00:53:54,120 --> 00:53:56,120 - Let's say approximately Rs 50. - Yes. 966 00:53:56,200 --> 00:53:59,560 - Okay, what else? - We are left with about Rs 400 per test. 967 00:53:59,640 --> 00:54:02,320 Because you took around Rs 50 for your salaries. 968 00:54:02,720 --> 00:54:05,480 LTV of one autistic child 969 00:54:05,560 --> 00:54:07,880 is somewhere close to three to five lakhs. 970 00:54:07,960 --> 00:54:12,800 They have to spend around one lakh rupees only for therapy each year. 971 00:54:17,320 --> 00:54:19,240 ...and provide them with therapy 972 00:54:19,320 --> 00:54:21,760 then we are closing a much higher revenue 973 00:54:21,920 --> 00:54:24,520 which is somewhere close to three crores. 974 00:54:24,600 --> 00:54:27,960 - Understood. - Why are you doing it? Your job is mostly to diagnose it. 975 00:54:28,040 --> 00:54:30,760 The problem won't end if we just detect it early. 976 00:54:30,880 --> 00:54:32,360 The point that you made, Aman, 977 00:54:32,440 --> 00:54:34,960 they'll have to wait again for six months for therapy. 978 00:54:35,080 --> 00:54:36,600 That problem is still there. 979 00:54:36,680 --> 00:54:39,080 I think solving autism 980 00:54:39,160 --> 00:54:40,960 - is an ecosystem problem. - Exactly. 981 00:54:41,080 --> 00:54:43,480 It is not a one-company problem. 982 00:54:43,560 --> 00:54:44,360 - Yes. - Agreed. - Okay? 983 00:54:44,440 --> 00:54:46,120 But getting into the business 984 00:54:46,240 --> 00:54:48,240 of actually providing the therapy 985 00:54:48,320 --> 00:54:50,640 operationally, where you'll hire a therapist. 986 00:54:50,720 --> 00:54:53,040 You'll train them first, etc. 987 00:54:53,120 --> 00:54:55,240 That will become another business altogether. 988 00:54:55,440 --> 00:54:57,800 You said 989 00:54:58,240 --> 00:55:01,440 that you will share Rs 140 with the doctor. 990 00:55:01,720 --> 00:55:03,760 And you will keep Rs 400. 991 00:55:03,840 --> 00:55:06,480 It can work only with your friends. Other than that, 992 00:55:06,640 --> 00:55:09,240 I can guarantee you, no doctor will allow it. 993 00:55:10,400 --> 00:55:12,880 If the doctor takes commission more than Rs 700 also... 994 00:55:13,000 --> 00:55:17,360 But in the beginning, you said that you were providing this for Rs 700. 995 00:55:17,440 --> 00:55:20,440 Whereas this costs around Rs 3,000 or Rs 5,000 in the market. 996 00:55:20,520 --> 00:55:21,920 Rs 5,000 is the cost of the traditional way. 997 00:55:21,920 --> 00:55:24,600 Then the doctor will sell this also for Rs 5,000 itself. 998 00:55:24,760 --> 00:55:26,320 If the doctor sells it for Rs 5,000 999 00:55:26,440 --> 00:55:28,680 then we are back to the same problem of detection. 1000 00:55:30,400 --> 00:55:33,120 If you genuinely want to offer this for Rs 700 1001 00:55:33,320 --> 00:55:36,560 then why don't you make it live online? 1002 00:55:37,200 --> 00:55:38,960 We can, but there is an issue of trust. 1003 00:55:39,080 --> 00:55:40,800 We want to establish this tool 1004 00:55:40,920 --> 00:55:43,280 in the healthcare provider's name, first. 1005 00:55:43,360 --> 00:55:44,840 - That would be your biggest mistake. - You said your 1006 00:55:44,880 --> 00:55:47,720 - webcam is special. - I asked you why this is not possible at home. 1007 00:55:47,800 --> 00:55:50,080 You said it's a special camera and tracks eye movements. 1008 00:55:50,200 --> 00:55:51,840 I don't know about iOS 18. 1009 00:55:51,920 --> 00:55:53,520 Eye tracking has been introduced in iOS 18. 1010 00:55:53,520 --> 00:55:56,000 It has been introduced everywhere. Even in Android machines. 1011 00:55:56,080 --> 00:55:58,320 Yes, it will soon come. You can do this. 1012 00:55:58,440 --> 00:56:00,280 You can do this at home. 1013 00:56:01,040 --> 00:56:03,400 There is an element called disruption. 1014 00:56:04,360 --> 00:56:07,640 And then there's an element called being part of the current process. 1015 00:56:07,800 --> 00:56:11,640 As founders what decision will you take, when you have to decide that? 1016 00:56:11,880 --> 00:56:13,240 Definitely, we'll decide on disruption. 1017 00:56:13,280 --> 00:56:15,200 Because the problem is very big and under-served. 1018 00:56:15,240 --> 00:56:18,640 We will choose whatever is best for the customers and the children. 1019 00:56:18,720 --> 00:56:19,800 And you're clear about that? 1020 00:56:19,840 --> 00:56:22,360 - Yes, we're clear about that. - This is a mission for us. 1021 00:56:22,800 --> 00:56:25,680 Coming to the consumer mentality. I agree with what you said. 1022 00:56:25,800 --> 00:56:29,200 Until the doctors don't do this, I won't do it. 1023 00:56:29,840 --> 00:56:31,800 As you said, if there is traction 1024 00:56:31,880 --> 00:56:33,760 in B2B, at first, 1025 00:56:33,960 --> 00:56:36,280 then you can open it. But not before that. 1026 00:56:36,360 --> 00:56:37,360 - Exactly. - Exactly. 1027 00:56:37,440 --> 00:56:41,000 You have such good knowledge and you've worked with AI. 1028 00:56:41,080 --> 00:56:43,680 Don't you want to apply your knowledge in other areas? 1029 00:56:44,200 --> 00:56:46,640 We've seen the journey of many parents. 1030 00:56:46,720 --> 00:56:49,120 And we think it's necessary to disrupt this. 1031 00:56:49,280 --> 00:56:51,120 It has been solved in the US. 1032 00:56:51,240 --> 00:56:53,600 People will solve it in the UK. Nobody will make it for India. 1033 00:56:53,640 --> 00:56:54,720 Is nobody making it in India? 1034 00:56:54,720 --> 00:56:57,160 Nobody in India can screen for autism with AI in five minutes. 1035 00:56:57,200 --> 00:56:59,600 My second question is, what are you doing on Shark Tank? 1036 00:57:18,480 --> 00:57:20,280 We already have commitments 1037 00:57:20,600 --> 00:57:24,120 of Rs 45 lakhs investment on Rs 12.5 crores. 1038 00:57:24,200 --> 00:57:26,960 We already have grants of Rs 55 lakhs. 1039 00:57:27,160 --> 00:57:28,560 The problem is not only money. 1040 00:57:28,640 --> 00:57:33,040 We need your expertise to create a brand like this. 1041 00:57:33,080 --> 00:57:35,880 The healthcare network you need is not here today. 1042 00:57:37,240 --> 00:57:40,360 Okay. You're working for a noble cause. 1043 00:57:41,120 --> 00:57:43,400 It can be a game-changer. 1044 00:57:47,160 --> 00:57:50,480 ....the government should reward you if you succeed. 1045 00:57:51,600 --> 00:57:54,160 I will give you what you've asked. Rs 50 lakhs for 4 per cent. 1046 00:57:59,600 --> 00:58:01,160 - It's the same offer. - Wow! 1047 00:58:01,240 --> 00:58:02,640 Do you want to join me? 1048 00:58:02,720 --> 00:58:04,040 - We can do that. - Okay. 1049 00:58:04,120 --> 00:58:05,920 Both of us will come together now. 1050 00:58:06,040 --> 00:58:07,960 - Rs 50 lakhs for 4 per cent. - Rs 25 lakhs each. 1051 00:58:12,200 --> 00:58:17,120 Your aim of starting a clinic and giving therapies 1052 00:58:22,440 --> 00:58:24,040 ...the right founders for it. 1053 00:58:24,120 --> 00:58:26,000 You've got two offers. 1054 00:58:26,080 --> 00:58:29,160 I can't add more value. I'm out. 1055 00:58:29,280 --> 00:58:30,480 Thank you. 1056 00:58:30,920 --> 00:58:33,040 I was excited about the tech. 1057 00:58:33,280 --> 00:58:35,360 I think the opportunity here 1058 00:58:35,480 --> 00:58:37,800 is a little bigger. 1059 00:58:41,760 --> 00:58:45,520 So, given that you're clear about going the therapeutic way, 1060 00:58:45,840 --> 00:58:47,280 I am out. Good luck. 1061 00:58:47,360 --> 00:58:48,200 Thank you. 1062 00:58:48,280 --> 00:58:51,000 I believe you should solve the entire ecosystem. 1063 00:58:52,440 --> 00:58:54,440 Be it screening or tech. Whatever it takes! 1064 00:58:54,520 --> 00:58:56,360 As long as 1065 00:58:56,440 --> 00:58:58,280 you want to bring an impact on autism, 1066 00:58:58,360 --> 00:58:59,880 - you should not stop anywhere. - Yes, sir. 1067 00:58:59,920 --> 00:59:01,520 There is no line 1068 00:59:01,600 --> 00:59:03,320 whether it is offline, online, 1069 00:59:03,400 --> 00:59:05,760 - omnichannel, or a doctor, whatever! - Certainly! 1070 00:59:11,200 --> 00:59:13,360 I'll make you Rs 50 lakhs for 4 per cent. 1071 00:59:26,120 --> 00:59:30,320 I want to partner with you to solve this. 1072 00:59:30,400 --> 00:59:32,720 It is very close to my heart. 1073 00:59:32,800 --> 00:59:35,400 For this cause, I can say 1074 00:59:38,920 --> 00:59:41,720 I don't have a problem with having more partners. 1075 00:59:42,200 --> 00:59:44,080 In the end, you only have one offer. 1076 00:59:44,160 --> 00:59:46,520 Three sharks together, Rs 50 lakhs for 4 per cent. 1077 00:59:57,400 --> 00:59:58,400 We will accept your deal. 1078 00:59:58,480 --> 01:00:00,080 - You have a deal. - Which one? 1079 01:00:19,560 --> 01:00:21,120 We don't want to sell our tests. 1080 01:00:21,200 --> 01:00:25,360 Plus, we know how Aman has revolutionised brand creation. 1081 01:00:25,440 --> 01:00:27,960 Varun's insurance background 1082 01:00:28,040 --> 01:00:30,680 might help us sell 1083 01:00:30,760 --> 01:00:34,400 autism insurance to parents before they have a baby. 1084 01:00:34,760 --> 01:00:37,400 It's going to be a great collaboration. 1085 01:00:37,960 --> 01:00:39,600 - Hello, Raksheet and Divyansh. - Hi. 1086 01:00:39,720 --> 01:00:41,000 - How are you? - Great! 1087 01:00:41,080 --> 01:00:42,320 How was your experience inside? 1088 01:00:42,400 --> 01:00:43,400 - We had fun. - Too good! 1089 01:00:43,400 --> 01:00:44,320 - Was it fun? - Yes. 1090 01:00:44,400 --> 01:00:46,240 Did you want a deal from them? 1091 01:00:46,240 --> 01:00:50,240 - We went with some strategies, and it went well. - More than that! 1092 01:00:50,400 --> 01:00:51,640 We got a better deal than that. 1093 01:00:55,360 --> 01:00:58,160 I saw all your work is tech-related. 1094 01:00:58,360 --> 01:01:00,080 I thought of ordering some gifts for you. 1095 01:01:00,160 --> 01:01:03,000 I ordered it from Swiggy Instamart, and they arrived in ten minutes. 1096 01:01:04,360 --> 01:01:06,800 - Thank you so much. It is for you. - Thank you. 1097 01:01:06,920 --> 01:01:09,280 I've ordered tech-supportive things. 1098 01:01:09,400 --> 01:01:11,360 I ordered a mouse, keyboard, 1099 01:01:11,440 --> 01:01:13,880 tablet stand and phone stand for you. 1100 01:01:14,000 --> 01:01:17,040 Since you're ordering, please order one charging station. 1101 01:01:17,160 --> 01:01:19,240 And give us an extension cable, as well. 1102 01:01:19,360 --> 01:01:21,680 Your demands are rising, but I'll order it. 1103 01:01:21,760 --> 01:01:23,960 We will support your noble cause. 1104 01:01:24,040 --> 01:01:26,360 We'll order it from Swiggy Instamart. Just ten minutes! 1105 01:01:26,440 --> 01:01:29,600 Friends, you can also order things if you want to. 1106 01:01:29,680 --> 01:01:31,320 You can get everything. Order now. 1107 01:01:36,120 --> 01:01:37,400 Welcome to Ask the Shark. 1108 01:01:37,520 --> 01:01:40,960 Please welcome Lenskart's CEO and co-founder, Mr Peyush Bansal. 1109 01:01:41,040 --> 01:01:42,080 Hi, Ashish. How are you? 1110 01:01:42,200 --> 01:01:43,280 I'm great, sir. How about you? 1111 01:01:43,280 --> 01:01:44,880 Good. What do you think about Shark Tank? 1112 01:01:44,920 --> 01:01:45,960 I've loved it so far. 1113 01:01:48,560 --> 01:01:50,240 Only one? 1114 01:01:50,360 --> 01:01:54,440 Today's question is from 45-year-old Rahul from Bhopal. 1115 01:02:11,560 --> 01:02:13,200 It will increase 1116 01:02:13,320 --> 01:02:15,560 the quality and output of your work. 1117 01:02:15,680 --> 01:02:17,960 I'll give you an example. Suppose you're a designer. 1118 01:02:18,080 --> 01:02:21,000 You might feel that AI designs everything. 1119 01:02:21,080 --> 01:02:24,200 Type the command, and the model will be there. 1120 01:02:24,280 --> 01:02:25,760 You can overlay eyeglasses, too. 1121 01:02:25,880 --> 01:02:27,520 But if you develop your skills 1122 01:03:04,800 --> 01:03:06,360 Very well answered, sir. Thank you so much. 1123 01:03:06,400 --> 01:03:07,920 See you in the next Ask the Shark 1124 01:03:08,040 --> 01:03:09,560 with a new question and a new Shark.