[clanking]
[music playing]
[theme music playing]
[theme music concludes]
- Sharks, the skin of newborn babies is extremely delicate. - Hmm.
We do everything we can to protect it.
We give them massages
and use specialised creams on their skin.
But when the baby turns four,
we say, "Phew! We're past the stage of giving them that extra care."
And we give the babies
our family's general skincare products
or continue using the same baby products,
but adult products are really harsh on them
whereas baby products are very mild.
Most of the personal care products contain harmful chemicals
called endocrine disruptors.
...hormonal issues such as polycystic ovaries
and early puberty,
and they can even increase the risk of cancer.
We identified this very gap in the personal care industry
and came up with Tikitoro!
Hello, Sharks.
Research tells us
that kids and teens can't use the same products.
...based on the feedback from our parent-focus group.
Each of our products is climatologically tested
and paediatrician-verified.
Right now, we operate from our website
and e-commerce channels.
...and my ask for today is Rs. 25 lakhs for 0.5% equity.
Wow!
- Lovely to have you here. - Thank you.
And sounds like a very exciting set of products.
First, we would like to know about you.
I'm a mother of a ten-year-old son.
After undergoing infertility treatment for seven years,
I had a baby.
And I went through hormonal imbalances.
At that time,
I learned how endocrine disruptors harmed the body.
Having gone through it,
I did not want my son to go through it.
I needed something which was safe, convenient and effective.
And that is why Tikitoro came to be.
From 2015 to 2020,
a lot of mothers...
And they make a lot of claims.
For instance, paraben sulphate-free and alcohol-free.
Did you not like their products?
- Those were all baby products made for newborn skin... - Right.
But this is especially for kids who have outgrown baby products
and are still too young for adult products.
I didn't find anything for that older kids age group,
and that is how Tikitoro came to be.
Prasanna, actually, the Sebamed Baby Lotion
sells entirely on a pH of 5.5.
- Yes. - That's their hook.
It has the same pH of 5.5.
We have expert formulators on board.
I'm not a formulator.
What's your educational background?
- I did engineering first. - Okay.
After that, I did an MBA in Marketing
from Symbiosis, Pune.
Before that,
for 14 years, I was in a full-time job
which was a 24/7...
I learnt multi-tasking.
I learnt everything like delegation and other things.
- What was your job role? - I was a full-time homemaker.
- Wow. - Whoa, nice.
- It's a very important job. - Exactly.
...disregard and discount homemakers.
But I'll tell you, you're so right.
First, a homemaker's job is unpaid and underappreciated.
On top of it, they manage a lot of chaos.
- So, I'm very glad you brought up this point. - Yes.
Prasanna, can we see the products?
Of course, I'll give them to you.
[light-hearted music playing]
Actually, our Kids Shampoo is our bestseller.
Kids...
I'll take the bodywash...
Thank you.
- Thank you. - Sir...
- Prasanna! - Yes?
What are their prices?
You've got many...
Like centella asiatica,
glycinate, indica fruit...
I go through the formulations of all the products.
Generally, the four to five key ingredients
- that make the marketing dose... - Exactly.
Are added up to 0.1% and are written right at the end.
- It's just called marketing dosing. - Exactly.
And there's no real value.
So, if you want to add 2 to 3% of centella asiatica,
it'd be a costly affair. But you're able to put that.
Yes, we are.
See, at the end of the day, as I said I'm a mother
and I want the best for the kids.
And that is what I'm really passionate about.
You haven't invested in the packaging at all.
For such high-quality ingredients,
this is not doing justice to your brand.
I agree with you.
By the way, these are not stock bottles.
We invested in moulds.
We had a few shapes
and we asked the kids.
This was easier for them to hold.
The pump was also stable when kept in the toilet.
So, it was all made for functionality and convenience.
When did you start this?
We launched Tikitoro in December 2021.
Year one was only three months which was Rs. 6 lakhs in revenue.
In year two, we did about Rs. 2 crores in revenue.
- Wow! - Year three, that's FY 2024,
- was Rs. 8.2 crores revenue. - Wow.
Now, year-to-date, we've already done over Rs. 8.5 crores.
- Wow! Well done. - What!
Very good.
And how much are you going to do?
Rs. 17 crores.
The EBITDA was -49%.
So, you must have raised capital.
No, we've fully invested in it.
- Really? - Yes.
- You've invested your own money. - Yes.
You've invested Rs. 8 crores,
Yes, we have.
And how are you funding this?
It is my and my husband's savings. Family savings.
- Good for you. - And... Yes.
And we have Rs. 2 crores of bank overdraft.
Let's try to understand why you've made such huge losses.
Okay? Let's delve into unit economics.
Okay. Our COGS is 31% and inward logistics is 1%.
So, the gross margin comes to 68%.
The CM1, where you take away the marketplaces, the commissions,
last mile delivery
and you remove the warehouse charges and all that,
- comes to 48%. - Yes.
And after the marketing spend, the CM2 is about 5%.
Then come our fixed costs, our team, other charges and everything else.
That's why our EBITDA is -20%.
25%...
- That's Rs. 40 lakhs a month. - Rs. 40 lakhs.
That's what's killing you.
Can you explain that break-up?
Okay. So, we have a team of 20.
The salaries come to about... 11% goes into that.
So, are the salaries Rs. 20 lakhs?
...you're building a start-up?
I'm actually building a bigger brand
and this is in the start-up stage right now.
We can't chase perfection...
You're trying to build a Rolls-Royce out of your business here,
but don't have the traction to show for it...
When you're building a large house or a big structure,
your foundation has to be right.
I'm building that foundation
and we have also shown traction.
It's not that we've only been burning money.
There has been significant improvement.
My CM2 was negative last year.
...how much money did your family decide to put into this business?
About Rs. 5 crores.
- How much did they actually invest? - 14.
- Oh! - Oh.
My number 8 was wrong.
No, but in 14, 6.5 crores are in my inventory.
How much more money are we willing to further invest?
We are talking to investors
and beyond that, even if I have to invest,
I can invest another Rs. 5 to 6 crores.
I believe this business is unfundable.
[tense music playing]
I invested in Mamaearth when it began.
They never had such numbers.
As compared to your scale,
they were at a quite better economics way before you
and were also profitable.
Why did you invest such a lot of money into the business?
So, in this Rs. 14 crores,
we have an inventory of Rs. 6.5 crores on cost.
What we have actually invested is about Rs. 8 crores.
And year to date,
we have that 1:1 capital efficiency ratio.
We have done Rs. 8.5 crores.
So, in our view,
it is not as dire as what you're saying.
Having an inventory of 12 months in a business like this is suicide.
All of that is just cash that is blocked.
Understood.
Which means you don't value cash as much
to end up in a situation where you block so much of cash.
What's the ageing of this Rs. 6.5-crore inventory?
When was your oldest stock manufactured?
Five to six months max, not more than that.
Five months ago,
why did you decide to buy inventory worth a year?
There must be a reason, I'm sure.
Yes. So, there was a shipping crisis two to three months ago.
There was a crisis in the Red Sea
and then, because of the geopolitics,
whatever my raw material was which had a five-month lead time,
they said it'd take almost five to ten months lead time.
We have certain raw materials.
Quite a few are imported.
At that time, we kind of panicked
and got a lot of inventory.
We wanted to make sure that we never went out of stock,
because if I go out of stock of my shampoo or anything else,
then that would definitely affect us.
...in order to make a big business.
Could you tell me some of the key people in your team
you've hired?
I have some fractional consultants
like a fractional growth officer,
fractional creative head, fractional CHR,
as I can't afford to have them full time.
Give me some examples.
I have one of the top ten
- digital marketing experts in India. - Okay.
And he is my fractional growth officer.
I have one of the marketing heads of Titan Fastrack for 10 years.
He's on board as our fractional creative head.
How did you reach out to these people?
Through my husband's connections.
What does your husband do?
He's into building materials.
- He's into manufacturing... - Got it.
Polycarbonate roofing sheets.
- You know, companies are not built by fractional people. - Yes.
You yourself need to learn.
Second, you need someone to help you stay disciplined.
Because you have a cash pipe that you've been utilising,
you need somebody to make you accountable.
I don't think your husband is making you as accountable today.
You ought to decide.
"Just another two-crore rupees."
"After that,"
- "this company will either shut or it will rise." - Understood.
That discipline has to stay.
Understood.
Turn it around using Rs. 2 crores.
Then, raise an investment and step out.
I'm out.
Thank you.
Prasanna, you mentioned that a foundation was very important.
However, the foundation of a consumer business
is a product-market fit.
If you were selling a product for Rs. 100,
you were making a loss of Rs. 20.
That, I don't believe, is a product-market fit.
And you also mentioned
that your ambition is to touch Rs. 500 crores in 5 years.
That will make you raise capital.
You've to constantly keep running on that investor treadmill
and making new launches.
So, if you want to build an honest brand,
you mustn't pump more than Rs. 1 to 2 crores cash into this
no matter what.
Sure.
No fundraising.
And building this over 10 years as a Rs. 100-crore honest brand
which is genuinely better...
- Right. - Because no other brand is able to do it.
If you're okay
- to make this a Rs. 100-crore business in 10 years... - Yes.
Then I would like to help you.
I'll offer you Rs. 25 crores for 3% equity.
- Rs. 25 crores? - Sorry, lakhs.
Yes.
I was like...
Well, Rs. 25 crores solves all the problems.
I was like whoa!
Yes.
Rs. 25 crores won't solve the problem.
- It'll make it worse. - No, I'll listen to you.
Rs. 25 lakhs for 3% equity,
and there is no valuation conversation here.
This is to stay honest to a mission
conditional to no capital raised next two years.
...is not the product-market fit, pricing, ingredients or inventory.
The biggest issue is that you have no constraints.
All I'll say is
- enforce constraints going forward. - Sure.
This business will require a reset.
I want to help you
because turnaround situations excite me.
However, I won't be able to give you that much time.
You'll need to do it yourself.
I will, I just need your...
I... Well, I can give you my blessings and wish you all the best.
Today, I'm out.
Thank you.
Prasanna, I have a very different view here.
We've all come from a lot of constraints.
We've built businesses with very little capital.
So, we think that is the only way to build a business.
We encourage founders
to get seed funding,
Series A financing
and even Series B financing.
That time, we celebrate them.
But if someone is investing Rs. 25 crore of their own,
what's the big deal?
You are your own seed investor and Series A investor.
If you have clarity
of getting to breakeven in the next six to eight months,
by all means, you should.
That's what I think you have the power to do and be.
I wish you good luck although you don't need it.
I think you're going to do very well.
All the best. I'm out.
Thank you.
Prasanna, coming back to your business.
There are a lot of issues.
Inventory issues...
We didn't even talk about SKUs.
How many SKUs do you have?
- 20. - Exactly.
So, you know, when you really analyse inventory,
an SKU-wise analysis co-relating to sales
gives you a different dimension.
I see that as a very big red flag.
EBITDA is a grave concern.
There's a saying that goes,
'Cut your coat according to your cloth.'
Her cloth is huge.
No, I don't look at it that way.
No matter how big the cloth is,
my point is you have to have financial discipline
for a business to scale.
However, taking on contrarian bets
and proving people wrong is a different kind of fun.
- [Tamil] And I really like your Tikitoro products. - Oh, wow!
- Did I say it right? - Perfect.
- Whew. - [laughs]
I do like them. I think there's a lot of potential.
I'll make you an offer.
Okay.
If you exit this year at Rs. 17 crores,
which I'm quite sure you will,
I will give you Rs. 25 lakhs for 1% equity.
Okay.
After you become profitable,
I would like to get 0.5%
of your sales as royalty
only till I recover my principal amount.
First of all, thank you so much, Vineeta and Namita. I'm...
Thank you. Really means a lot.
Thank you, Vineeta, for your offer.
Namita, I accept your offer.
- I'll share my success story. - Oh my God!
- Yes. Congratulations. - Thank you.
Congratulations, Prasanna.
Namita will bring the discipline.
Fantastic, and I really believe in you.
- Thank you so much. - I think we're going to make it big.
[camera shutter clicking]
Thank you.
- Thank you. Means a lot. - Very proud of you.
All the best.
[music concludes]
- Hello, Prasanna. - Hi.
- Congratulations. - Thank you.
How happy are you?
I have no words to describe how I'm feeling.
- Really! - I'm so happy.
Actually, every Shark has something to offer.
- Yes. - So, I was very happy
to get the deal from Namita.
Everything fell into place.
- I'm very happy. - Amazing.
I personally loved your pitch.
You identified a gap and built a business around it.
I really hope you grow.
- It's a great category you're into. - Thank you so much.
- I'm aware you left your son in Chennai. - Yes.
While you were making the pitch, I ordered something for your son.
- Oh, wow! - Yes.
It was here in 10 minutes from Swiggy Instamart.
- I know you have a flight to catch. - Yes.
So, please take this for him.
You're doing so much for other children.
This is a little something for him.
Thank you so much.
Guys, Prasanna is in a hurry.
If you're ever in a hurry and need anything,
you name it, they have it.
It's Swiggy Instamart. Delivery in 10 minutes.
Order now.
I have just one request. Don't lie down on that.
- If either of you lie down, that'd take 20 minutes. - Okay.
But musculoskeletal healthcare to all is a huge statement.
Oh, no. This is dangerous.
There's health plus there's the Anupam angle in this.
Oh my God, I'm dead.
[music playing]
[theme music playing]
[theme music concludes]
Sharks, India's knees are wobbly.
[hysterical laughter]
And people are going bald too.
Look, all of us talk about stress, hypertension and diabetes anyway,
and we're also talking about balding these days.
You know!
But do you know
that every year,
over 6 crore Indians get diagnosed with osteoarthritis,
a disease that causes the knee joints to wear out.
...on account of physical disabilities caused by osteoarthritis,
undergo knee replacement surgeries.
...and meniscus tears arising from road accidents
and sport accidents are performed every day.
Post knee surgery,
the different structures of a patient's knees
are in a very delicate phase.
If we don't track this recovery phase
in the early stages and detect problems,
it could cause lifelong problems for the patient such as chronic pain.
There is even a risk of reinjuries.
In order to simplify this process and make it more effective...
I'm from Ghaziabad, U.P.
And I am the founder and CEO of Ashva Wear Tech.
...on their knee health status.
...and physiotherapy centres.
I could assess
- the root cause of the pain in the next 10 minutes. - No way!
Anupam is a prime candidate for knee problems.
Please come here and take off your shoes.
His knees are already very weak.
The Fitknees device offers 10 tests,
but today, we will perform the top five critical tests
I'll tie this here.
[music playing]
I will take a photo
and calibrate the device as per your body, okay?
I feel like an idiot.
[laughs]
- You feel... You are! - Alright.
I took a photo.
Now, with the help of image-processing technology,
we are automatically taking Mr. Mittal's measurements.
- On my back? - On your back, sir.
We will be doing flexion and extension.
Please bend your left knee as much as you possibly can.
Please relax, sir.
Your left knee flexion is 135 degrees.
Bend the right knee, sir.
Excellent.
Relax, please.
Now, please sit up for the next test.
Extend your left knee like this as much as you can
and lock it, please.
- Can you see sir is going in hyperextension of -5 degrees? - Hey!
- Which is good. It is normal, sir. - Okay.
Let's try it for the right knee, please.
Okay. This is -2 degrees. This is also normal.
For the next test, I'll fetch the Fitmust.
This is a muscle strength test.
Isometric muscle strength is a parameter for muscle strength.
Right now, we will perform a quadriceps strength test.
I will put this device on your quadriceps.
Please go behind a little, sir.
Cross your hands
so that you're not engaging your core completely.
I'll place the device here.
You need to push forward. Start.
- Push. Push! Push! Push... - [grunting]
- Push! Push... - [grunting]
Push!
[grunting]
Sir, do you see?
- Oh my God! - You are 50.2 here, okay?
I'm going to do this for your right knee also.
- 29... Come on... - Hey, Anupam. Hands up.
Oh, sorry.
- I don't think... - [laughter]
Start. Push.
Come on, push.
Come on, push!
[grunting]
Push! Push...
Don't make me laugh.
Come on, push!
Push! Push...
Push, Anupam!
[laughs]
- Alright... - Okay, sir. You're 40.9 here.
...walk to where Mr. Bansal is sitting at the end of the stage and back,
and we'll take another round.
I'll tell you when, sir. Please come back.
[laughs]
- Two rounds in total. - You do everything prematurely.
[laughter]
He's getting... He's getting into the vibe.
Okay. Sir, stand still for one second, please.
I can't do that.
- No, sir. Don't do that. - Okay.
- Sorry. - Stand still. Let the sensors calibrate.
Okay, let's go.
Your natural pace. Your natural walk, okay?
The right one has come off.
- Forget about it. Monitor the left. - Come on, it's fine.
- Is this fine? - Yes. Again. Continue, please.
- One more! - Let's keep going. One more round.
- Last round. - You can do it.
Push! Push! Push.
You should tell me the next step beforehand.
- Come on. - I know, but all this...
Sir, come to the dot. Keep facing the painting.
- It's not ending! - Come here.
This is the last test, sir. I promise.
Come here.
- Stand and keep facing me. - Do a couple of more tests.
We want all 10!
You've to do three squats,
as deep and as fast as possible.
Only three.
Start.
Start squatting. One.
Come up. Two.
- Come up. Three. - She's making me exercise!
That's it, sir. Stop.
Done.
- Okay. - Anmol, I love you.
- You're my favourite founder ever. - Done?
- Yes, sir. Done. - All the tests?
- Sure? - Yes, sir.
So now, what I'm going to be doing is I'll generate sir's Kneeport.
Kneeport.
Flexion should be above 125.
So, coming to your extension.
As per your age and gender,
your muscle strength should be 25 kgf.
It's above 50.
- That's an imbalance of almost 20%. - Okay.
15% is normal.
That 5% in the right quadriceps...
You're mostly sitting. You sit cross-legged a lot.
So, that could probably have caused the impact.
Are you a doctor?
No, ma'am. I'm an engineer.
An electronics engineer by degree and passion.
How did this idea come to you? This is a very niche area.
Actually, it was a personal problem.
I've been on a weight loss journey myself.
When I was in college,
I used to run a lot with a much greater body weight than this.
So, with one and a half years,
my back and knees were completely gone.
Okay.
Another trigger point was this.
My mom, on account of her ligament tear
and bilateral osteoarthritis,
the cartilage in her knees had worn down,
was undergoing physiotherapy for eight years.
So, this was a trigger point for me.
I had knee issues,
my mom had issues for eight years and she still hadn't recovered.
After that, I did some research.
What is safe loading?
What is load bearing on different sides?
That aroused interest.
A hackathon was held in college.
what the status of your body is and what you should be doing.
That's how the idea was born,
but I had sort of a herd mentality and took up a job.
I joined Ford Motor Company, Chennai,
as a product developer
because my friends were.
I seized many opportunities after that.
After office hours, I used to go
and shadow a lot of physiotherapists.
I shadowed almost 75 physios and orthopaedics.
Then the concept of a product began to take shape.
It was just on paper then.
I asked them questions.
"Would this be useful to you? How much would you pay for it?"
- "Is there a real problem or not?" - Wow.
And after this, I decided...
Well, I had some money in the bank by then.
Then I gained some confidence.
"I can do this and I can do this alone."
So, I quit my job after a few years and started Ashva.
To make this product
I did scrubbing
of more than 30 live surgeries.
I've actually seen knee replacement surgeries happening
the traditional way
the robotic way and the hand-held robotic way.
I've also seen a hip replacement surgery
and an ACL meniscus surgery.
- Wow! What a story! - What a story! Amazing!
- What a story! - Amazing!
Is it your hardware or do you buy it from someone?
The entire thing is our design.
In fact, we designed the initial electronics prototypes.
I designed every PCP.
How much does a device cost?
MRP is Rs. 7.5 lakhs plus tax.
I sell the combo of Fitmust and Fitknees.
How much do you sell it for?
For our early customers, we offered it for Rs. 5 to Rs. 5.5 lakhs.
- So, your next expensive market solution... - Yes.
Currently, how much would the cheapest option have cost
before you entered the market?
If we talk about wearable technology,
for only gait analysis,
- There is nothing currently. - Is your accuracy equivalent?
Yes, sir! I have some products,
if you would like to see
the packaging and everything as well.
Please!
This is Fitmust.
The first product is Fitmust.
Yes! This is Fitknees.
Please put it on your lap and open it.
- This is Fitmust. - Okay!
- You have a great energy. - And...
What is a Fitmust?
Fitmust is Fully Indicated Strength for muscle testing, sir.
Ma'am, this is Fitmust.
Peyush and I can look at it together.
- Yes! - The name...
- Acronyms are great! - The names are
- brilliant! - It is like high-end telecom equipment defence...
- Like you see in the movies. - Yes, sir.
- With the nuclear button. - Yes, sir.
In Fitknees, we give four motion sensors
and one charging dock.
Ma'am, we have to sell Fitknees and Fitmust combo.
It is for Rs. 7.5 lakhs.
Fitmust alone
costs Rs. 85,000 plus tax.
We sell it for approximately Rs. 70,000-Rs. 80,000.
Do you get such feedback?
Sir, we do get such feedback.
But we have
sold to two Asters,
Apollo and Manipal,
for the same price.
There are no repeat orders of Fitknees yet.
Have orthopaedics vetted your products?
We did clinical validation.
45 patients in phase one
...we've sold Fitknees.
launched Fitmust.
Our sales were Rs. 5.5 lakhs.
This is without tax.
In FY22-23,
it was Rs. 15.5 lakhs.
We only sold Fitmust.
Last year, in January, we launched Fitknees.
The revenue was Rs. 50 lakhs.
This year, in H1, our revenue was 44.9 lakhs.
And this year,
we have done Rs. 74 lakhs in sales until now.
So, in 1.5 months, our sales were Rs. 30 lakhs.
We have sold 16 devices until now.
What is the gross margin?
Ma'am, last year
our gross margin was 49%, that's Rs. 50 lakhs,
even though we were in a loss.
In H1, our gross margin was 87%.
Sir, our gross margin increased
because last year, when we
incurred a direct cost of Rs. 25 lakhs,
we used one or two products
for regulatory purposes under MDR regulations.
Conducted clinical trials
and allocated some pieces for demos.
We sold only around 16-17 products during that time.
- All that was from GM... - So, it came in this.
- Exactly! We... - That's very...
This is an intellectually honest way of looking at your numbers.
- Which is very impressive. - Which needs to be done.
What was our bottom line?
Last year, in FY23-FY24,
our income was Rs. 50 lakhs.
And our gross loss was approximately Rs. 77 lakhs.
Net loss, sorry!
And EBITDA was -154%.
How much was it the first year?
How much was your loss in FY23?
Our loss was Rs. 80 lakhs.
- Got it! - Rs. 80-Rs. 82 lakhs.
This year, in H1,
when your sale was Rs. 45 lakhs, how much was the loss?
The loss was Rs. 8 lakhs, sir.
And on top of that,
at the end of H1, we had Rs. 14 lakhs in inventory on that
Rs. 8 lakhs loss.
Your sales were Rs. 30 lakhs in October.
- Yes. - You must've made a profit there.
We made a profit of approximately Rs. 17.5 lakhs
towards the burn.
- Well done, tiger! Good for you. - Thank you!
Where are you getting the money from?
You have raised some money.
- Yes, sir. - Tell us about it.
In total, we have raised Rs. 4.85 crores.
Wow! Well done.
- Very well done! - We received a grant
of Rs. 72.5 lakhs.
After that, we raised Rs. 30 lakhs
in direct pre-seed funding
at 5% equity.
This was in 2019.
In May 2022,
we raised a seed round.
This was Rs. 2 crores at 20% equity.
So, this was led by
Kumar Vembu from Zoho.
This year, we closed one more round.
This is again like a small bridge round
before the pre-series funding.
This is Rs. 1.85 crores
at Rs. 18 crores post-money.
I didn't expect
that you raised so much capital.
Along with a job,
you did research at night and built a company.
How? How is driving this?
Pretty amazing!
- This is incredible. - Thank you!
It's my passion, sir.
I want to do something big.
I wanted to ask about the uniqueness of this product.
Because, as a runner,
- I have visited sports medicine centres. - Yes.
- Yes! - In many such places,
there are body scans,
- gait analysis. - Yes.
They have all this
where you are given reports.
So, is this technology
really different from what is in the market?
Isn't there a solution readily available
with orthopaedics and sports doctors?
Ma'am, since you've already visited sports centres,
have you seen the size of the equipment?
They are expensive
and power-hungry.
Here, the differentiation is affordability.
One differentiation is that it's a wearable,
so it's very compact.
And it's actually
Anmol, don't you think
that the ability to financially
- purchase a Rs. 7 lakhs device... - Yes.
There are only a certain number of hospitals in India
- that will be able to afford it. - Hmm!
I have advisors from Johnson & Johnson.
I will quote their estimate to you.
They said
that they can only sell around 2,000-2,500 devices in India.
- Anmol! - Yes, sir.
What is the dream?
I want to deliver my technologies
to 1 million people at just 1 dollar a day,
directly to their homes.
And for that, I need orthopaedic surgeons to
make this a medical device
and prescribe my devices to them to take home.
Not at this cost!
Spandan's ECG device costs Rs. 4,000.
Rs. 2,000...
I don't know why this is for Rs. 7 lakhs.
Then you are not solving India's problem.
- Understood, sir. - Right?
I've noticed that there is a wave in India,
- that is to build diagnostics. - Yes.
A lot of companies come on Shark Tank.
I am very interested in such companies.
And I've also noticed
that their technologies are quite advanced.
- Yes, sir. - I feel
- that your product is early. - Yes.
- I also think this is quite expensive. - Very expensive.
- Okay! - Insanely expensive.
I would also say
that the AI you are developing
is becoming a standard nowadays.
Monitor ECG,
and there is data in reports.
That is AI's accuracy.
It is not 100% accurate.
- The doctor has to be involved despite that. - Yes.
So, I am not entirely sure that you are solving this problem
- in a revolutionary manner. - Yes.
- To be honest, these straps we see are okay. - Yes.
But this is an L1 Technology.
- Yes. - You've raised a lot of capital.
Go deep and try to understand
whether this is a big problem or if there is a bigger problem
you could solve with the money that you have.
- Understood, sir. Yes. - Right? Best of luck.
Thank you for your feedback, Peyush. Thank you so much.
- Anmol! - Yes?
The issue I have is that
this is an assisted service.
- Yes, sir. - You cannot be a technology company
- if you depend on people. - Yes.
- Yes! - This will not work if you
don't have a good therapist or a caregiver,
then this won't work.
- I think you should dig deeper. You can do something solid. - Yes.
And really achieve your mission of 1 million
- at 1 dollar a day. - Yes, sir.
You can change the world.
- So, please focus on that. - Yes.
I am out because I am not seeing that. It's not clear today.
- Yes, sir. - But I am very proud
- that you are making medical devices in India. - Yes, sir.
The future of our country is safe
- because of founders like you. Thank you! - Thank you, sir.
So, Anmol!
As I mentioned, I have a problem with
87% GC and
Rs 7-Rs. 7.5 lakhs.
And a TAM of barely
- 200-250 hospitals that can afford it. - Yes.
It's as good as a pre-revenue.
- Yes! - And for a pre-revenue.
Rs. 40 crores valuation is too high.
- Understood, ma'am. - It's too early for me to be an investor.
- Today, I am out. - Thank you, ma'am.
Anmol, your dream
- and where we currently are... - Yes.
- There is a huge gap between them. - Yes.
But I would like to help you.
- Please let me know if you need help. - Yes.
But I am out today.
Wish you all the best.
Thank you so much, sir.
I agree that this is an expensive product.
But for a subject like this,
where this technology is effective
- when recommended by orthopaedics... - Yes.
It could become a means
to be used in pre-knee and pre-hip surgery
in private hospitals, not for others.
And I think more than that I want to take a founder bet.
It is much easier to work with founders like that.
But I will not be able to match Mr. Vembu's offer.
So, I will give you an offer today.
- Rs. 50 lakhs for 4%. - Yes.
And we can structure this
in a way that Mr. Vembu is okay with.
And this is just
to help you figure out
in the next 1-2 years
- whether this will be more towards B2B or B2C. - Right!
And of course, this is subject to me verifying
whether this is the most affordable solution globally which is useful
- for orthopaedics. - Yes, ma'am.
with my investors.
Currently, for Rs. 18 crores...
It's 2.7% for Rs. 18 crores.
You can give me 2.7% equity
- and 1.3% as advisory. - Yes.
- Well done. - We will understand the mechanics.
Basically, I should get an effective valuation,
which I shared with you.
Which is linked to Rs. 50 lakhs for 4%.
Ma'am, to get a Shark as an advisor,
I am open to it. I need learning
so that I can keep improving my business
and make this a global brand.
I am okay with giving that equity to you.
- You're serving a managerial role. - Thank you so much, ma'am.
[camera shutter clicks]
[music playing]
Welcome to ACKO Changemakers
where we really welcome change.
we are making a legacy of a new culture.
And today's changemaker is Anmol.
The product is innovative
and it's for the good. You are not only an entrepreneur,
you are a social entrepreneur.
How can we prevent
any sort of knee pain
and not wait for the problem to arise?
Right! The healthcare or the mindset of people
is quite reactive
- and not responsive. - Yes.
If we want to bring responsiveness on time
then there are very simple steps to prevent
early onset of knee pain.
I believe that if
you perform some form of activity daily,
then the worst enemy of knee pain
is muscle strength.
Don't hesitate
- to bend down to lift something. - Some kind of exercise
- and movement. - Some kind of movement.
Anmol, thank you and thank you for bringing this change.
Whatever you said, I am taking it back home with me.
Similarly, ACKO, with its revolutionary offering,
is changing the landscape of insurance.
Now, while taking car insurance, no spam calls.
Avoid the confusion you have
about price and policy.
Buy ACKO's car insurance.
It's easy, transparent,
hassle-free and for the right premium.
Anmol, you celebrate your time in the tank,
we have a memento for you from ACKO and Shark Tank.
This is for you, Anmol.
Thank you!
- Congratulations! - Thank you so much.
[camera shutter clicks]
'Shark Tank India, co-presented by ACKO Insurance,
'PokerBaazi and Swiggy Instamart.'
'Co-powered by Adani, and Jaquar Bath and Light.'
'And partners, Rayzon Solar, ICICI Direct,'
'Lenskart and Sofy.'
[theme music playing]
Hello, Sharks! My name is Swati.
And my brand is called Aseem by AseemShakti.
Do you know what India's oldest fashion struggle is?
- Draping a saree. - Of course.
One person wants to drape a saree,
but it becomes a two-person job.
We rely on help from the husband,
the neighbour, the beauty parlour lady.
A saree makes an Indian independent woman dependant.
Even if we manage to drape the saree,
we worry that it might come undone.
The stress of carrying the saree.
If it comes undone, the worry of who will help drape it again
adds to the tension.
I hope I don’t trip over the petticoat,
so where exactly should I place the safety pin?
Tension!
Tradition shouldn't bring tension.
This stress is gone for now.
Because I present to you Aseem by AseemShakti's
- 15-second saree. - Oh wow!
Our sarees
are made depending on the customer's size and height
so that it fits them perfectly.
- Well done! - Super!
Unbelievable!
But what about my phone, keys,
and the cheque I get from you? Where will I keep it?
This is Aseem Saree.
It has a magical pocket.
Whoa! I love it!
Game changer.
Love it!
- We need this. - I love it.
There is a pocket in our saree,
it is that powerful.
Oh my! Love it!
So, let's see
what's in my pocket today.
- Comb! - Oh my!
Notepad.
[chuckles]
- Phone. - Oh my God!
Bottomless pit.
- Wallet. - Don't tell me!
This is unbelievable.
- Pepper spray. - What?
- Lipstick! - Yay! Sugar!
- Keys! - Oh my God!
- Pen. - Pull our glasses.
She will.
Kohl!
- Wow! - Love it.
Pull out medicines.
Medicines, it seems.
That's all!
Oh my God, I need to touch that pocket.
Sorry, but it's crazy.
As you can see,
I don't have to carry a sling bag
and ruin my saree's aesthetics.
We started this in 2018.
And gradually, we sold more than 10,000 sarees.
And now, our goal
is to bring the saree
to every boardroom, dinner date,
vacation, and festival around the world.
Nice!
Sharks, now, I would like to introduce you
to the strength of Aseem,
with whose hard work we've reached here.
Purpose!
[music playing]
'We used to stay at home earlier.'
'We didn't have a job.'
'If we needed something, we used to ask our family.'
'Taking money from them means giving them an account of everything.'
'I am a single mother'
'and I needed a job.'
'I didn't know what to do when I was at home.'
'I used to ask for help from everyone with my mobile.'
'I used to do that.'
'Because of AseemShakti'
'I started extra-curricular activities for both my children.'
'One goes to learn cricket'
and one of them attends a dance class.'
'Now, we earn our money and spend it.'
'I enrolled my daughter in civil engineering.'
'She is in the USA now.'
'I can do anything now.'
'I know how to use my mobile phone now.'
'I transferred my child'
'from a government school to a private school.'
'I also pay for his tutor too.'
'My husband is doing things. It is his duty and he is doing it.'
'Now that I am earning, I want my children to learn more things.'
[music playing]
'It brings me joy to see that,'
'while they were once unable to meet their small needs,'
'they are now able to fulfil larger requirements at home.'
'They are paying their children's fees.'
'With AseemShakti, our vision'
'is to ensure that women become providers at home'
'and not just a nurturer.'
'AseemShakti means'
'recognise your power'
'and do what you think'
'and educated women can do.'
[music playing]
So, everyone!
Let's welcome, #teamaseem.
[music playing]
Oh wow!
Oh my!
Superb!
[music playing]
Oh my God!
- Two for me. - Thank you!
Thank you so much!
Good one!
Bye!
- What a presentation! - Fantastic.
All right! Swati with a pocket,
tell me,
how did you start this business?
I started my career as a teacher
to the underprivileged youth.
I started teaching Spoken English.
I loved it.
Because what you teach them today, they use it the next day.
You get to see an instant impact.
After that, I had to study for UPSC.
And that is when I learnt about Self-Help Groups.
Who did you invite?
- Women in my neighbourhood. - Okay!
One of my relatives is a part of it. Her name is Pushpa.
I call them Pushpa and gang.
Did you invite them
because they were facing issues?
Yes! In lower-income families, money is the biggest problem.
- Right! - They are in financial stress.
One day,
I saw Pushpa and gang
having a great time on the street.
I was wondering why they were laughing.
There were bandages on their back.
I asked them,
'There are bandages. Why are you laughing?'
'Are you coming from a hospital? What happened?'
They told me
that they go for a cosmetic patch test.
The more risky it is, the more money they earn.
I felt it was dangerous.
One woman had burnt her ear.
When I thought about how they would stop doing this,
it all came down to their skills.
They know how to stitch and cook.
I felt that I couldn't run a food business,
so I thought, why not try something in fashion instead?
While I was still contemplating,
I saw the response of a survey was ready-to-wear saree.
Which year was this?
This was in 2017.
When did you launch this?
Our incorporation date
- is 18th January 2018. - Okay.
By October and November, I decided we would make ready-to-wear sarees.
One of our videos went viral in 2021.
That is where we started selling our saree.
Which video went viral?
This video went viral.
[music playing]
We chose her on purpose
- to show this is so easy. - So easy. Yes.
We met her the previous day on a local train.
- Oh! - We requested her to be in our video.
- Wow! - Nice.
You are resourceful.
After that, many more videos went viral.
Let's finish. Tell us about the remaining three years in three lines.
In 2021 and 2022
we were taking all the orders on WhatsApp and Instagram.
In 2023, we started a Shopify website.
Okay!
We slowly started Meta ads in June-July.
95% of sales come from our website.
Share your sales.
This year, from April to now,
we made Rs. 1.3 crores.
- Very good. - Last year, we did Rs. 65 lakhs.
The year before that, it was Rs. 22 lakhs.
- The one before that our revenue was Rs. 19 lakhs. - Got it.
Swati, along with this could you share the profit as well?
Our net profit is 20%.
How much were your sales last month?
More than Rs. 20 lakhs.
Last month was Rs. 20 lakhs?
- No! September was Rs. 20 lakhs. - In September it was Rs. 20 lakhs.
Last month was Rs. 28-Rs. 29 lakhs.
Okay! In Rs. 28 lakhs,
how much was your profit
and how much did you give these women?
Approximately, including women,
I think it was more than Rs. 4-Rs. 4.5 lakhs.
How much profit do we have?
She said Rs. 4 lakhs.
That was for September.
- Rs. 20 lakhs. - That's fine.
- It's okay! - It might be similar.
How much does one saree cost?
- The starting range is Rs. 3,100. - Oh!
And it goes up to Rs. 6,000 for now.
How many women do you work with?
There are 18 people in my unit.
I've also outsourced to an NGO.
There are a total of 17 women who do this.
- You are empowering around 35 women. - Yes.
You are enabling them. What is their income?
We give them Rs. 300 per saree.
The highest last month
was Rs. 44,000.
- The lowest was Rs. 24,000. - Not bad.
So average...
Rs. 30,000.
What is your vision for the next 2-3 years?
I want to make it a Rs. 100 crore company.
And with this workforce.
Are you the only one with equity in this company
or do they have a share?
No! Currently, it's a one-person company.
Suppose you earn a profit of Rs. 10 crores,
how will you distribute it?
Will you get it?
Yes, we will get it,
but women will get the dividends.
How much does that cost you?
Rs. 720 with GST.
You are buying a saree for Rs. 700 and paying them Rs. 300.
Is there an additional expense?
- Why are you selling it for Rs. 3,000? - We have to.
The cost of running a business is high
because we have a rented unit in Mumbai.
But we are headed in the direction to lower the prices.
You are missing a few costs
which you either don't remember or you haven't understood.
Numbers are very important, Swati,
for an entrepreneur.
For you to scale,
you need to focus on execution
- where numbers are very critical. - Hmm!
You don't always need to ask for investment.
Because when an investor comes,
Understood?
You need to make yourself investor-ready.
We will meet again. But for today, I am out.
Somewhere, I feel you are not clear.
You started with issues faced by these women.
And I think both can exist,
but I somehow feel you don't have the clarity
about generating a certain amount of income for these many women
by a certain period.
I am out because of this confusion.
Swati, I disagree with Peyush.
There is one thing you have a lot of clarity in
- and that is what you want to do for your Self-Help Group. - Yeah.
That clarity of purpose, that whatever you do
will be for the upliftment of Pushpa and gang.
You want that gang to keep growing and their income goes up.
I think that vision of yours
is crystal clear.
- Everyone in India knows. - Everything can be learnt.
I didn't know much about business.
I have come so far
by learning everything. So, I didn't get the time to learn finance.
Correct! I think the challenge
your business faces is value to the consumer
is not 4 times that of a regular saree.
We will need to think a bit more from the consumer's perspective.
Either you'll have to go for backward integration
Swati, your purpose behind this business is very noble.
You've done a great job.
You should be very proud.
But the level of sophistication in our current execution
doesn't seem high to me.
Processes, systems,
MIS, financials,
scalability,
these things
are important attributes to make a business big.
I don't see those building blocks and foundations.
[dramatic music playing]
How does it feel that four Sharks are out?
- Why are they out? - I am upset.
You are upset? Don't be.
- The biggest Shark is yet to speak. - Oh, nice.
I think you have clarity.
There is honesty and transparency too.
I understood that you memorised
what you didn't know.
But other than that,
finance and numbers are your weaknesses.
But do you know what your infinite power is?
You want to help people
and you know how to build a community of people
and motivate them to move forward.
We have an initiative
called Shaadi.org,
and it has one clear objective
and that is to bring women back to work.
And give employment to those who don't have a job.
- Hmm! - Right!
You are struggling with marketing and finance.
We will hire a marketing and a finance person
- to work with you. - Okay.
They will focus solely on these tasks.
I want to treat you as a businesswoman,
so I'll make you an offer.
There is a lot of work pending.
And I think it's fair.
- Deal accepted. - All right!
[laughing]
Oh nice.
Super!
If you had given them earlier, you would've received more offers.
- Which one? - This pink one is for you.
- For your size. - That's lovely! Thank you so much.
This one? It's beautiful.
Thank you!
- Take any. - All of it is his.
Yes, all the sarees are ours.
Give one to Peyush.
Thank you! Best of luck.
I advertise your glasses, you advertise the saree.
Oh God! This is what I was left to see.
Don't worry, the world will see.
- Yes, now. - Okay.
- Now that you are wearing it, click a photo. - Wow!
Wow!
- Do I have to change my walk or is this fine? - AseemShakti!
- Oh God! - Here!
[camera shutter clicks]
So lovely! I love it!
- AseemShakti! - All hail!
[laughing]
- What are they doing? - What should a leader be like?
Like Swati!
She should be like Swati with a pocket.
- Thank you so much. I am so happy. - We will be in touch.
- Yes! - Super!
- Congratulations! Well done! - All the best!
- You look gorgeous, Anupam. Gorgeous! - Yeah!
But I must compliment you. You are a great sport.
Thank you, brother.
- Hello, Swati. - Hi.
Welcome to the PokerBaazi zone, where you hold the cards.
It has competition, risk and numbers.
The community cards of Poker
I would call them only for a couple of hours, at first.
- Okay. - Then I increased it to three hours and then four hours.
- So that they get used to staying outside the house. - Hmm.
The first difficulty was to make them sit in one place.
I took it slow
and tackled it in the beginning.
It's actually a very huge business skill
that you make a small request
and continue to bigger requests.
- That's what you've done. - Thank you for educating me.
Guys, Swati used her strategy brilliantly.
If you are also a wizard
with your skills and strategies
then log on to PokerBaazi
and draw your winning hand.
Download the app now.
'Bringing Good Ideas To Life.'
Jaquar presents 'Bringing Good Ideas To Life.'
The pitchers who have come to Shark Tank
have got some brilliant ideas.
Not only that, but they are going to create
a huge ripple effect in our society.
Be it changing through new innovations
or empowering the local and artist communities
through their skills,
every pitcher has done something different.
I know you have not missed anything,
but it's necessary to refresh your memory, right?
Okay? So, let's have a look.
[upbeat music playing]
'We have come from Mumbai with a mission.'
'To renovate the country's ancient heritage.'
- 'The Vikram Sarabhai Library at IIM - Yes.'
'has been restored by us.'
'We even got a UNESCO award for it.'
'Now it feels like our country'
'has an amazing opera house.'
'Fupro' is a healthcare brand.'
'and through its ground-breaking research'
'and innovation'
'we manufacture high-quality and affordable prosthetics.'
'I really like you guys.'
'You have made innovations in everything.'
'You will find art forms like Madhubani,'
'Kalamkari,'
'and Pattachitra.'
'Through which'
'we promote regional artists'
'and create a social impact.'
'Oh, this is good.'
'Very pretty work on mine.'
'Ai.gnosis is an AI-based eco-system.'
'It doesn't stop at detecting the problem in the child'
'but also provides'
'expert consultation and therapies.'
'The government should award you if this gets solved.'
'The vision that both of us have from here is'
'if we bring up Indian culture a little more'
'then we can create 100 Marvels and 100 DCs.'
'This could be a game changer.'
'Patch up is not just a small sticker.'
'This is a mission'
'to give all the Indians'
'zero additives supplements.'
'It feels nice. It feels like a premium product. Feels good.'
'Is your speed of movement a little slow?'
- 'Am I right or am I wrong? - You're wrong.'
- 'Do you have the speed? - Yes.'
'Will you move ahead?'
- 'Yes. - I'll give you an offer, will you close it?'
'Yes.'
'Listen to him, at least.'
'Make a quick decision. 60 lakhs at two per cent.'
'The offer is straight. 7.25 crores for 10 per cent.'
'I will offer you 50 lakhs for 1 per cent.'
'I'll give you what you asked for, that is 50.'
'I'll also make you an offer.'
'It's the same offer.'
All the pitchers have proven one thing.
Made in India, for the world, like Jaquar.
'Ask the Shark'
We have the founder and CEO of People Group, Anupam.
The question is from Akshat Jain.
He's 28 years old from Kota.
- Hmm. - Because
- there are certain things you can't tell anyone. - Hmm.
Things which only a co-founder can understand.
But it is what it is.
Because I've become more self-reliant.
I've had to develop every muscle.
And I think it's made me stronger.
Education has now become life-long.
Technology
See you at the next 'Ask the Shark'
with a new Shark and a new question.