1 00:00:23,360 --> 00:00:24,760 [music playing] 2 00:00:40,880 --> 00:00:42,240 [theme music playing] 3 00:00:43,040 --> 00:00:45,720 'We're super excited to meet the Sharks.' 4 00:00:45,880 --> 00:00:47,480 'Two of my batchmates are in the Tank.' 5 00:00:47,600 --> 00:00:48,720 'That's a surprise.' 6 00:00:48,840 --> 00:00:49,880 'What's interesting is' 7 00:00:49,960 --> 00:00:52,480 that we applied to Shark Tank last year too. 8 00:00:52,840 --> 00:00:55,960 We made it to the regional rounds but couldn't clear all India. 9 00:00:56,240 --> 00:00:57,440 There were a few shortcomings. 10 00:00:57,680 --> 00:00:59,840 'We've taken care of them now.' 11 00:00:59,920 --> 00:01:02,880 'So, we're confident as well as excited to meet them.' 12 00:01:10,480 --> 00:01:12,240 [theme music concludes] 13 00:01:12,600 --> 00:01:13,440 Come on, Sharks. 14 00:01:13,600 --> 00:01:16,040 Let me feed you a healthy breakfast. 15 00:01:17,360 --> 00:01:18,880 30% sugar! 16 00:01:19,400 --> 00:01:20,960 Oh! 17 00:01:21,440 --> 00:01:23,120 31% refined flour. 18 00:01:25,200 --> 00:01:27,080 8 to 10 teaspoons of palm oil. 19 00:01:28,520 --> 00:01:30,040 A pinch of preservatives. 20 00:01:32,240 --> 00:01:34,280 And artificial colours. 21 00:01:36,240 --> 00:01:37,080 There! 22 00:01:37,160 --> 00:01:39,160 Your healthy breakfast is ready. 23 00:01:42,120 --> 00:01:44,120 What's the matter? Shocked? 24 00:01:45,960 --> 00:01:48,400 We were just as shocked when we saw 25 00:01:48,480 --> 00:01:52,440 how unhealthy the big breakfast brands in India were! 26 00:01:53,680 --> 00:01:55,040 As they lack protein, 27 00:01:55,120 --> 00:01:58,000 instead of energising us, they slow us down. 28 00:01:58,840 --> 00:02:01,560 So, we came up with Naturik! 29 00:02:03,960 --> 00:02:07,440 India's tastiest and healthiest desi breakfast brand. 30 00:02:14,360 --> 00:02:18,120 At Naturik, we serve the tastiest Cheela, 31 00:02:18,200 --> 00:02:19,880 Masala Khichdi and Sprouts. 32 00:02:26,440 --> 00:02:28,000 And I can proudly say 33 00:02:28,120 --> 00:02:31,440 that we consume this as well as feed it to our kids. 34 00:02:31,920 --> 00:02:35,040 Naturik products don't contain any sugar, refined flour, 35 00:02:40,520 --> 00:02:42,400 of wholesome and tasty food. 36 00:02:42,720 --> 00:02:47,160 So, Sharks, healthy and tasty food will be ready in just three minutes! 37 00:02:47,320 --> 00:02:49,440 Indians are getting health conscious 38 00:02:49,560 --> 00:02:52,240 thereby increasing opportunities for us. 39 00:02:52,320 --> 00:02:54,880 And to tap into this opportunity, 40 00:02:55,000 --> 00:02:58,080 we are growing our online and offline presence 41 00:03:04,640 --> 00:03:05,480 To make us 42 00:03:05,600 --> 00:03:08,160 India's biggest desi breakfast brand, 43 00:03:08,240 --> 00:03:11,400 our ask is Rs. 50 lakhs at 2% equity. 44 00:03:11,520 --> 00:03:12,520 Okay! 45 00:03:13,760 --> 00:03:14,960 [music playing] 46 00:03:15,840 --> 00:03:16,880 - Where are you going? - Wow. 47 00:03:16,920 --> 00:03:19,160 - There's something special for you. - Oh, my! 48 00:03:19,280 --> 00:03:22,320 You don't seem like someone who can cook. 49 00:03:33,080 --> 00:03:34,520 You're trying to make it idiot-proof. 50 00:03:34,560 --> 00:03:35,760 - Yes. - Please come. 51 00:03:35,920 --> 00:03:37,400 [laughs] 52 00:03:37,520 --> 00:03:39,240 Show some respect. [laughs] 53 00:03:42,480 --> 00:03:43,720 This is our batter. 54 00:03:44,560 --> 00:03:47,120 We'll grease it with a little oil. 55 00:03:47,240 --> 00:03:48,800 - Um... - Wow, we're eating sprouts. 56 00:03:51,600 --> 00:03:53,560 - Like this? Do I have to do this? - Are these sprouts yours? 57 00:03:53,600 --> 00:03:55,240 - Huh? - The sprouts are ours too. 58 00:03:55,320 --> 00:03:56,480 Our mission isn't 59 00:03:56,560 --> 00:03:59,040 - just to provide healthy and tasty food... - Yes, perfect. 60 00:03:59,120 --> 00:04:02,680 But also to solve the problem of a lack of time in India. 61 00:04:02,760 --> 00:04:05,040 So, all our solutions have been devised 62 00:04:05,120 --> 00:04:06,880 keeping convenience in mind. 63 00:04:08,280 --> 00:04:10,080 These sprouts were made in five minutes. 64 00:04:10,200 --> 00:04:12,560 We'll take a heap of this. A generous amount. 65 00:04:14,440 --> 00:04:15,320 What do I do now? 66 00:04:15,400 --> 00:04:16,800 Spread it gently. 67 00:04:17,120 --> 00:04:18,880 [chuckles] 68 00:04:18,960 --> 00:04:20,880 Aman really doesn't cook. 69 00:04:20,960 --> 00:04:22,520 Ma'am, please don't stand so close to him. 70 00:04:22,520 --> 00:04:25,120 - He's a champ at setting things ablaze. - No, sir. I'll be fine. 71 00:04:27,120 --> 00:04:28,720 Simply pour the batter. 72 00:04:28,800 --> 00:04:30,720 - It'll cook on its own. No need to spread it. - Yes. 73 00:04:30,760 --> 00:04:32,440 - Don't do anything. - Yes, that'll do it. 74 00:04:32,520 --> 00:04:34,560 - What they are saying is don't do anything. - Yes! 75 00:04:34,880 --> 00:04:36,200 - Nothing at all! - [laughter] 76 00:04:38,680 --> 00:04:39,920 The sprouts taste nice. 77 00:04:41,000 --> 00:04:41,800 Yum! 78 00:04:41,960 --> 00:04:44,640 Hand us your products until he cooks. 79 00:04:44,720 --> 00:04:45,800 I'll show them to you. 80 00:04:46,760 --> 00:04:48,080 - Please flip it. - All right. 81 00:04:49,920 --> 00:04:51,320 Aman can happily cook. 82 00:04:51,600 --> 00:04:52,680 Wow, nice. 83 00:04:52,760 --> 00:04:53,760 Not bad. 84 00:04:54,600 --> 00:04:55,600 Very good. 85 00:04:57,960 --> 00:04:59,360 - I think it's ready. - Done? Ready? 86 00:04:59,480 --> 00:05:01,360 - Yes. - It's ready! That is crazy. 87 00:05:03,240 --> 00:05:04,560 - I... - Please try some. 88 00:05:04,640 --> 00:05:06,360 - The pricing is reasonable. - Rs. 200. 89 00:05:06,640 --> 00:05:08,120 It's fine for a cheela mix. 90 00:05:08,200 --> 00:05:10,600 - Will it make one or more? - No, obviously not. 91 00:05:11,160 --> 00:05:13,600 I swear this is the first time I've cooked something 92 00:05:13,680 --> 00:05:14,760 other than instant noodles! 93 00:05:15,160 --> 00:05:16,160 I swear. 94 00:05:17,800 --> 00:05:18,960 I'm fond of cheela. 95 00:05:32,280 --> 00:05:35,280 It depends on the consistency of the cheela you make. 96 00:05:35,520 --> 00:05:36,920 Our claim is 12, 97 00:05:37,000 --> 00:05:39,680 but one can easily make 15-16 cheelas. 98 00:05:39,880 --> 00:05:41,320 The ingredients are really healthy. 99 00:05:41,400 --> 00:05:42,200 - Yes. - Absolutely. 100 00:05:42,320 --> 00:05:44,600 Are cheelas that are made at home equally healthy? 101 00:05:44,680 --> 00:05:47,200 The cheela made at home is prepared using besan 102 00:05:47,280 --> 00:05:48,880 which is high in carbs. 103 00:05:49,120 --> 00:05:53,680 To give it protein and high fibres, we've made it using dals. 104 00:05:54,000 --> 00:05:56,200 We've added some secret ingredients. 105 00:05:56,360 --> 00:05:58,760 We've added asafoetida, cumin seeds and fennel seeds 106 00:05:58,840 --> 00:06:01,160 so it won't cause bloating or flatulence. 107 00:06:01,240 --> 00:06:03,080 You won't feel heavy after eating this. 108 00:06:09,880 --> 00:06:12,840 Cheela contains 20% per 100 grams of protein. 109 00:06:13,240 --> 00:06:16,480 - So... - Hang on. Let me grab your box. 110 00:06:16,760 --> 00:06:20,880 This says, "100 grams contains 20 grams of protein." 111 00:06:20,960 --> 00:06:22,000 - Yes. - Right? 112 00:06:22,120 --> 00:06:23,640 And this makes 12 cheelas. 113 00:06:23,920 --> 00:06:25,360 - 250 grams. - This pack is 250 grams. 114 00:06:25,400 --> 00:06:26,280 - 250 grams. - Yes. 115 00:06:26,400 --> 00:06:28,520 This packet contains about 50 grams of protein. 116 00:06:28,600 --> 00:06:29,440 So, 20 grams. 117 00:06:29,520 --> 00:06:31,360 - And this will make... - 20. 118 00:06:31,960 --> 00:06:33,240 - 12 cheelas. - 11 to 12 cheelas. 119 00:06:35,920 --> 00:06:38,600 - Suppose you eat idli or dosa... - Yes. 120 00:06:38,680 --> 00:06:41,600 - Or parathas made of healthy flour, not refined flour... - Yes. 121 00:06:41,720 --> 00:06:43,920 That'd also give you 4 to 5 grams of protein. 122 00:06:44,040 --> 00:06:45,040 It wouldn't. 123 00:06:45,480 --> 00:06:49,240 Dosas... Whether it is iD Fresh or homemade, 124 00:06:49,480 --> 00:06:51,160 it contains 1.5 grams of protein. 125 00:06:51,320 --> 00:06:52,320 What about dal cheelas? 126 00:06:52,360 --> 00:06:55,400 Dal cheelas will give 16 to 18 grams of protein 127 00:06:55,480 --> 00:06:58,480 but you'll have to put in 10 to 12 hours of work. 128 00:06:58,640 --> 00:07:03,760 And all the products in the market that claim they contain protein, 129 00:07:03,840 --> 00:07:04,880 including muesli, 130 00:07:05,080 --> 00:07:08,680 only contain 11 to 12 grams of protein on average. 131 00:07:08,760 --> 00:07:09,640 Got it. 132 00:07:09,720 --> 00:07:13,480 I have here Ragi Cheela and Oats Cheela. 133 00:07:14,120 --> 00:07:16,080 Don't you think they contain a lot of sodium? 134 00:07:17,080 --> 00:07:19,720 - Is that the reason for its longer preservation? - No. 135 00:07:19,840 --> 00:07:22,920 We've added more spices to lend it that savoury flavour. 136 00:07:23,040 --> 00:07:24,720 But it's less than a gram. 137 00:07:24,800 --> 00:07:26,840 It's about 700 mg. 138 00:07:42,680 --> 00:07:45,000 As a force of habit, we don't pick up these boxes. 139 00:07:45,280 --> 00:07:47,040 And they add preservatives to it. 140 00:07:47,240 --> 00:07:49,960 Is the main reason behind adding them costing or expiry? 141 00:07:50,080 --> 00:07:52,200 Both together. Two sides of the same coin. 142 00:07:52,280 --> 00:07:55,640 Normally, their shelf life is a maximum of 3 to 6 months. 143 00:07:56,480 --> 00:07:58,400 Yours is a year without preservatives. 144 00:07:59,160 --> 00:08:01,080 What you've got in your hand is an innovative product. 145 00:08:01,080 --> 00:08:02,400 It isn't available in the market. 146 00:08:04,360 --> 00:08:05,640 How do you do it? 147 00:08:05,760 --> 00:08:07,880 We use two technologies. 148 00:08:08,480 --> 00:08:11,680 The various dals or flours you get in the market 149 00:08:11,760 --> 00:08:13,600 contain 16 to 18% moisture 150 00:08:13,680 --> 00:08:15,800 which gives them a shelf life of 3 months. 151 00:08:16,200 --> 00:08:19,520 We reduce the moisture content to under 2% using dehydration. 152 00:08:33,040 --> 00:08:35,600 - After opening, yes. - Once you open it, the shelf life reduces. 153 00:08:35,680 --> 00:08:37,240 - After that, a month. - It's a month. 154 00:08:37,560 --> 00:08:38,560 Wow! 155 00:08:41,160 --> 00:08:44,320 Before starting Naturik, I was working in ITC 156 00:08:44,400 --> 00:08:46,920 - as a National Sales Manager... - Into packaged foods? 157 00:08:47,120 --> 00:08:49,080 I oversaw all India FMCG sales 158 00:08:49,240 --> 00:08:51,720 for the larger portfolio of Aashirvaad Atta, Sunfeast, 159 00:08:51,840 --> 00:08:54,600 Bingo, Yippee! Noodles and B Natural juices. 160 00:08:54,680 --> 00:08:57,960 And in personal care products, Fiama Di Wills, Vivel... 161 00:08:58,120 --> 00:08:59,400 The entire portfolio. 162 00:08:59,480 --> 00:09:03,440 I worked in Britannia before that as National Trade Marketing Manager 163 00:09:03,560 --> 00:09:07,360 where I made go-to-market strategies for Britannia NutriChoice brand 164 00:09:07,560 --> 00:09:10,080 and took it from Rs. 50 crores to Rs. 300 crores. 165 00:09:10,200 --> 00:09:13,920 Before that, for over four years, I worked with Walmart 166 00:09:14,000 --> 00:09:15,840 when it had just entered India 167 00:09:22,440 --> 00:09:23,560 Where did you study? 168 00:09:23,640 --> 00:09:26,400 Born and brought up in Bathinda. I topped my school and class. 169 00:09:26,560 --> 00:09:28,720 I wanted to take up commerce and business studies 170 00:09:28,800 --> 00:09:31,160 but mom said, "No way." 171 00:09:31,280 --> 00:09:33,280 "People with poor marks opt for it." 172 00:09:33,840 --> 00:09:36,040 So, I decided to study engineering 173 00:09:36,120 --> 00:09:38,960 but I had a deal that I'd try for IIT only. 174 00:09:39,040 --> 00:09:41,560 If I got in, good. If not, I'd do what I wanted. 175 00:09:41,920 --> 00:09:44,000 And I'd not do it in Bathinda, I'd go to Delhi. 176 00:09:44,240 --> 00:09:46,640 - So, I did grade 11 and 12 from DPS RK Puram. - Oh, wow! 177 00:09:46,760 --> 00:09:47,760 Um... 178 00:09:54,200 --> 00:09:55,000 So... 179 00:09:55,080 --> 00:09:56,400 Our batch! 180 00:09:56,480 --> 00:09:57,960 - I know. - I'm from 2011. 181 00:09:58,080 --> 00:09:59,240 [laughter] 182 00:09:59,440 --> 00:10:00,280 Which section? 183 00:10:00,400 --> 00:10:01,880 My section was 12I. 184 00:10:02,000 --> 00:10:03,600 We were in J, right? 185 00:10:05,920 --> 00:10:07,360 Don't you know each other? 186 00:10:07,480 --> 00:10:09,200 A thousand students graduate every year. 187 00:10:09,280 --> 00:10:11,480 No, so what? They knew each other back then. 188 00:10:11,560 --> 00:10:13,160 - We were in the same class. - Okay. 189 00:10:13,240 --> 00:10:14,480 You must've known me. 190 00:10:14,600 --> 00:10:15,600 - I know. - [chuckles] 191 00:10:15,720 --> 00:10:17,440 - Wow! - Whoa! 192 00:10:19,400 --> 00:10:20,400 Carry on. 193 00:10:20,560 --> 00:10:21,640 I graduated in Commerce. 194 00:10:21,720 --> 00:10:24,400 I prepared for MBA. CAT and FMS. Got through FMS. 195 00:10:28,720 --> 00:10:29,800 What's your story, Isha? 196 00:10:29,880 --> 00:10:34,080 I had a 12-year corporate career in Human Resources in Gurugram. 197 00:10:34,160 --> 00:10:36,240 After that, I ran 198 00:10:36,320 --> 00:10:39,480 - a food QSR business in Gurugram for 4 years. - What was it called? 199 00:10:39,560 --> 00:10:41,320 I bought a franchisee of Tibb's Frankie 200 00:10:46,640 --> 00:10:48,440 I innovated tasty recipes. 201 00:10:48,520 --> 00:10:53,000 - They bought out the recipes for my lemonade and shakes. - Amazing. 202 00:10:53,080 --> 00:10:53,920 Wow! 203 00:10:54,080 --> 00:10:54,880 [clapping] 204 00:10:55,000 --> 00:10:56,800 - And then? - After that, 205 00:10:56,880 --> 00:10:59,880 Sahil shared his idea with me. 206 00:11:00,040 --> 00:11:03,800 The passionate food entrepreneur in me said, 207 00:11:03,880 --> 00:11:05,840 "Let's do this together." 208 00:11:06,720 --> 00:11:09,520 How did the idea of entering this segment occur to you? 209 00:11:09,760 --> 00:11:12,520 Honestly, we scanned the entire food space. 210 00:11:12,600 --> 00:11:14,400 Snacking was extremely cluttered. 211 00:11:14,800 --> 00:11:17,240 Breakfast stood out as a huge potential market. 212 00:11:17,320 --> 00:11:19,480 - It's a Rs. 30,000-crore market. - Wow. 213 00:11:19,600 --> 00:11:23,720 The focus is currently on Western snacks and cuisines. 214 00:11:23,800 --> 00:11:26,000 Who's the biggest breakfast brand in India? 215 00:11:26,160 --> 00:11:28,120 Batter has a market of Rs. 8,000 crores, 216 00:11:28,200 --> 00:11:29,720 - both dry and wet. - Oh! 217 00:11:29,800 --> 00:11:33,040 - Where brands like MTR, iD Fresh and others operate. - iD. 218 00:11:33,680 --> 00:11:36,800 Rs. 5,500 to 6,000 crores is the market share of cereals 219 00:11:36,880 --> 00:11:41,680 - where Kellogg's, Bagrry's and a few start-ups operate. - Okay. 220 00:11:41,760 --> 00:11:44,480 Rs. 11,000 to 12,000 crores is the market share of RTEs 221 00:11:44,560 --> 00:11:48,720 which include poha, upma and Haldiram's RTEs. 222 00:11:48,880 --> 00:11:52,440 Oats has a small market of Rs. 1,100 to 1,200 crores. 223 00:11:53,200 --> 00:11:55,920 - Your SKUs mostly comprise cheelas, right? - Correct. 224 00:11:56,040 --> 00:11:57,760 You didn't mention the share of cheelas 225 00:11:57,840 --> 00:11:59,600 in that Rs. 30,000 crore market. 226 00:11:59,800 --> 00:12:04,000 - It falls under the Rs 8,000-crore dry and wet batter market. - Okay. 227 00:12:04,080 --> 00:12:06,040 Who currently sells cheela mix? 228 00:12:06,160 --> 00:12:08,040 - There are start-ups... - Small start-ups. 229 00:12:08,120 --> 00:12:11,560 - For example, Tata Sampann has their Chilla Mix. - Okay. 230 00:12:11,640 --> 00:12:13,440 But that's not their focus category. 231 00:12:13,560 --> 00:12:15,360 - That's okay. And Slurrp Farm? - Slurrp Farm. 232 00:12:15,440 --> 00:12:18,840 - It's for kids. - Slurrp Farm sells pancakes, not cheelas. 233 00:12:18,920 --> 00:12:21,160 But pancake is also a form of cheela in the dessert format. 234 00:12:21,200 --> 00:12:22,200 There are more companies? 235 00:12:22,280 --> 00:12:24,360 - There's another start-up called Gladful. - Gladful. 236 00:12:31,400 --> 00:12:33,120 ...which is a big category of Rs. 11,000? 237 00:12:33,520 --> 00:12:37,240 I've had a firm belief in my many years of experience. 238 00:12:37,320 --> 00:12:40,240 Sticking to a small category and making an identity 239 00:12:40,320 --> 00:12:42,000 and winning the confidence of the customer 240 00:12:42,080 --> 00:12:44,120 is far more important than taking... 241 00:12:44,200 --> 00:12:46,960 - Absolutely right. - A big competitor head-on. 242 00:12:47,120 --> 00:12:49,640 - Absolutely. - MTR, Haldiram's, ITC... 243 00:12:49,920 --> 00:12:51,920 It'll take them two days to kill Naturik 244 00:12:52,000 --> 00:12:53,240 if they want to. 245 00:12:53,360 --> 00:12:54,360 Very good. 246 00:12:54,440 --> 00:12:55,920 - I want to discuss numbers. - Sure. 247 00:12:56,000 --> 00:12:57,720 - If you're ready for numbers. - Absolutely. 248 00:12:58,000 --> 00:13:00,000 We started sales on 20 March 2023. 249 00:13:04,400 --> 00:13:05,440 What was the bottom line? 250 00:13:05,560 --> 00:13:08,000 It was negative. -12%. 251 00:13:08,080 --> 00:13:09,520 That's a loss of Rs. 10 lakhs. 252 00:13:09,840 --> 00:13:13,440 This year, we've raised funds and even started offline sales. 253 00:13:13,560 --> 00:13:14,560 When and who was it? 254 00:13:14,640 --> 00:13:16,040 At the beginning of the year. 255 00:13:16,120 --> 00:13:18,000 Around January or February from 100X.VC. 256 00:13:18,080 --> 00:13:20,120 It was a pre-seed round of Rs. 1.25 crores. 257 00:13:20,200 --> 00:13:21,440 At what valuation? 258 00:13:21,520 --> 00:13:23,160 - The CCPS is... - 7%. 259 00:13:23,240 --> 00:13:25,160 But broadly, it is around at... 260 00:13:25,240 --> 00:13:27,600 It was at Rs. 8.33 crores valuation. 261 00:13:34,000 --> 00:13:38,160 In the second quarter, we did sales of Rs. 1.26 crores. 262 00:13:38,360 --> 00:13:41,080 We closed October at Rs. 49.4 lakhs. 263 00:13:41,440 --> 00:13:44,280 Our AOP for this year is Rs. 5.82 crores, 264 00:13:49,520 --> 00:13:51,880 Exit March, we'll be EBITDA positive. 265 00:13:54,360 --> 00:13:56,360 - Let me give you the unit economics. - Please. 266 00:13:56,440 --> 00:13:59,120 - Our raw material cost comes to 23%. - Okay. 267 00:13:59,560 --> 00:14:02,920 The packing material cost comes to 4.5%. 268 00:14:03,200 --> 00:14:05,640 The inward shipping cost is 3.25%. 269 00:14:05,800 --> 00:14:08,440 That makes our gross margin 69.3%. 270 00:14:08,520 --> 00:14:11,680 After that come the discounts, margins and commissions 271 00:14:11,800 --> 00:14:16,280 - we offer blended to marketplaces and offline is 27%. - Got it. 272 00:14:16,400 --> 00:14:18,600 And outward shipping that includes couriers, 273 00:14:18,720 --> 00:14:21,120 supply, transport and others is 12%. 274 00:14:21,240 --> 00:14:25,240 We're maintaining a weighted average for our marketing spend at 25%. 275 00:14:25,320 --> 00:14:26,200 Okay, wow. 276 00:14:26,280 --> 00:14:29,960 After this, our CM2 is 5.5%. 277 00:14:30,040 --> 00:14:31,440 Then come your fixed costs. 278 00:14:31,520 --> 00:14:34,840 Our salaries are about 8.7 to 8.8%. 279 00:14:34,960 --> 00:14:37,120 Then we have travel costs of 1.4% 280 00:14:37,200 --> 00:14:39,200 - because the sales team travels a lot. - Team travel. 281 00:14:39,240 --> 00:14:43,280 Our fixed expenses are 0.7% such as rent and electricity. 282 00:14:43,360 --> 00:14:47,640 - Post that, we arrive at a negative EBITDA of about -6%. - Not bad. 283 00:14:47,760 --> 00:14:48,640 You have it in control. 284 00:14:48,720 --> 00:14:51,360 It is controlled because our focus is 285 00:14:51,440 --> 00:14:52,920 that online is important. 286 00:14:53,400 --> 00:14:56,680 The business will come from offline and other channels. 287 00:14:57,120 --> 00:14:59,480 Our sales split is equally divided. 288 00:14:59,560 --> 00:15:01,240 51% comes from offline. 289 00:15:01,320 --> 00:15:03,400 49% comes from online. 290 00:15:03,480 --> 00:15:07,320 That means your online part of the business hasn't scaled much. 291 00:15:07,560 --> 00:15:12,160 - In comparison to last year's run rate of Q4... - Right. 292 00:15:12,240 --> 00:15:15,200 Your online is almost flat now. 293 00:15:15,320 --> 00:15:16,560 That's a conscious call. 294 00:15:21,640 --> 00:15:23,280 - in the last 9 months. - It absolutely has. 295 00:15:23,320 --> 00:15:25,680 - Why haven't you gone 10x yet? - It's very important to us. 296 00:15:26,400 --> 00:15:29,600 - We're yet to be on-boarded on quick commerce. - Okay. 297 00:15:29,680 --> 00:15:32,040 - We're at it but the entry is slow. - Okay. 298 00:15:32,120 --> 00:15:33,600 You're not on any of the three now. 299 00:15:33,680 --> 00:15:34,520 That's right. 300 00:15:34,600 --> 00:15:36,920 You were saying something earlier about a conscious call. 301 00:15:37,000 --> 00:15:38,440 Correct, we made a conscious call. 302 00:15:38,520 --> 00:15:40,360 Let me tell you about two kinds of brands. 303 00:15:40,440 --> 00:15:43,280 - On the one hand, we have Slurrp Farm. - Yoga Bar and all. 304 00:15:43,480 --> 00:15:45,800 Yoga Bar which ITC purchased 305 00:15:46,080 --> 00:15:47,720 and Soulfull which Tata purchased. 306 00:15:47,800 --> 00:15:49,760 On the other hand, there are brands like iD Fresh, 307 00:15:50,200 --> 00:15:52,840 Lahori Zeera, Veeba sauces and Country Delight. 308 00:15:53,320 --> 00:15:55,720 - Both have fantastic products... - Hmm. 309 00:15:55,800 --> 00:15:59,600 Outstanding capabilities and a really deep funding. 310 00:16:00,120 --> 00:16:03,320 All of them are at Rs. 100 crores now, 311 00:16:03,400 --> 00:16:06,280 and they went from Rs. 500 crores to Rs. 5,000 crores. 312 00:16:06,680 --> 00:16:08,080 The difference is the execution. 313 00:16:08,160 --> 00:16:11,480 They kept focusing on online and burnt money. 314 00:16:11,600 --> 00:16:13,800 They went hybrid really quickly 315 00:16:13,880 --> 00:16:15,720 and expanded their offline very fast. 316 00:16:15,880 --> 00:16:19,200 So, because the market is still split like before, 317 00:16:19,280 --> 00:16:21,480 78% is still from offline. 318 00:16:21,560 --> 00:16:24,400 And online is important no doubt. We're doing it too, 319 00:16:24,960 --> 00:16:26,960 but we don't want to go overboard, 320 00:16:27,080 --> 00:16:31,080 burn whatever little money we have and then just sit on our hands and... 321 00:16:32,480 --> 00:16:34,880 Do you see an impact of online sales on offline 322 00:16:34,960 --> 00:16:36,400 - and hence, are you investing in it? - Correct. 323 00:16:36,400 --> 00:16:37,880 How are you attributing it? 324 00:16:38,000 --> 00:16:40,000 We don't run ads just on Amazon. 325 00:16:40,080 --> 00:16:42,640 I make my own reels and post them on Instagram 326 00:16:42,720 --> 00:16:45,400 creating awareness about why this is healthy and all. 327 00:16:45,480 --> 00:16:47,600 We boost it through performance marketing. 328 00:16:47,760 --> 00:16:49,280 When we go to a retail store, 329 00:16:49,400 --> 00:16:51,840 the retailer sometimes says, "I've seen this somewhere." 330 00:16:51,960 --> 00:16:53,880 - Or a consumer says that. - It makes a difference. 331 00:16:53,920 --> 00:16:56,400 "I had ordered this once. It's available at this store now." 332 00:16:56,480 --> 00:16:59,840 That rub-off effect is really helping us sell out. 333 00:17:00,520 --> 00:17:01,880 When did you start offline? 334 00:17:02,320 --> 00:17:03,920 Just this year. 335 00:17:04,000 --> 00:17:05,440 We began preparations in August 336 00:17:05,520 --> 00:17:08,200 - and launched offline in September. - Offline is very recent. 337 00:17:14,000 --> 00:17:14,920 What's the repeat rate? 338 00:17:15,040 --> 00:17:17,480 The small packs have a repeat rate of almost 52%. 339 00:17:17,600 --> 00:17:19,520 - It's too soon to track offline. - No. 340 00:17:20,280 --> 00:17:21,520 This is how we track offline. 341 00:17:21,600 --> 00:17:23,720 Suppose, we gave the retailer goods worth Rs. 2,000. 342 00:17:23,960 --> 00:17:27,040 When the salesman visited him after 15 days, 343 00:17:27,120 --> 00:17:29,040 how many pieces did he reorder? 344 00:17:34,960 --> 00:17:37,440 What are you doing special that it is 69%? 345 00:17:38,240 --> 00:17:41,160 Let's look at brands like Britannia, ITC and others. 346 00:17:41,240 --> 00:17:44,840 Their gross margins are, as you said, around 45 to 48% 347 00:17:44,920 --> 00:17:47,160 as they cater to the mass market 348 00:17:47,240 --> 00:17:48,480 and are adding preservatives. 349 00:17:48,680 --> 00:17:50,880 If you look at the premium market, 350 00:17:50,960 --> 00:17:52,840 for instance, look at their premium offering. 351 00:17:52,960 --> 00:17:54,920 Their margins are over 60%. 352 00:17:55,000 --> 00:17:58,080 Like Dark Fantasy's margin is 61 to 62%. 353 00:17:58,160 --> 00:17:59,240 Do you play in that segment? 354 00:17:59,280 --> 00:18:01,880 We're tapping into the mass premium segment 355 00:18:01,960 --> 00:18:06,440 and not the base mass segment as that is not our target group. 356 00:18:06,720 --> 00:18:09,240 Our TG is the working population, young mothers, 357 00:18:09,560 --> 00:18:12,440 Gen Zs staying away from home with a little spending power... 358 00:18:12,520 --> 00:18:15,240 - Correct... - Outside of your business... 359 00:18:15,320 --> 00:18:18,800 Your collective experiences are a superpower, 360 00:18:18,880 --> 00:18:21,960 but the superpower of this business is its GM in particular. 361 00:18:22,240 --> 00:18:25,360 - You have a 70% GM in the food business. - Yes. 362 00:18:25,600 --> 00:18:27,760 - Marvellous. - You have a structural advantage. 363 00:18:27,840 --> 00:18:28,840 Absolutely. 364 00:18:28,880 --> 00:18:30,960 - It could increase. It will grow. - We are trying 365 00:18:31,040 --> 00:18:32,520 to grow it by 3 to 3.5% 366 00:18:32,600 --> 00:18:34,320 by working on the packaging cost and inward... 367 00:18:34,440 --> 00:18:36,040 You're the king of your industry. 368 00:18:36,120 --> 00:18:37,920 You know how to run this business. 369 00:18:38,040 --> 00:18:40,280 - We know you understand your industry. - Yes. 370 00:18:40,400 --> 00:18:42,080 - [laughs] Thanks... - Okay? 371 00:18:42,200 --> 00:18:44,640 All right, let me tell you my decision. 372 00:18:44,960 --> 00:18:47,360 - I think this space is hot and consumers want it. - Yes. 373 00:18:47,440 --> 00:18:49,560 - This business is slated to grow. - Yes. 374 00:18:49,720 --> 00:18:52,480 In your entrepreneurial journey, I can help you with brand building, 375 00:18:52,560 --> 00:18:54,680 - marketing and marketplace management. - Yes. 376 00:18:54,880 --> 00:18:58,640 I offer you Rs. 1 crore for 5% equity. 377 00:19:07,240 --> 00:19:08,960 I'm being loud and clear. 378 00:19:09,160 --> 00:19:12,720 Accept my offer without listening to their offers. 379 00:19:13,560 --> 00:19:14,920 - Thank you so much, Aman, for the offer. - Thank you. 380 00:19:14,960 --> 00:19:17,160 - You doubled the investment. - Hmm. 381 00:19:17,360 --> 00:19:20,280 - He has caught Kunal's disease. - It's okay. 382 00:19:20,360 --> 00:19:21,600 I like inspiring people. 383 00:19:22,080 --> 00:19:24,120 - Aw. - I don't mind getting inspired. 384 00:19:24,240 --> 00:19:25,880 Sahil and Isha, 385 00:19:26,040 --> 00:19:31,280 your logo, branding and packaging require a lot of work. 386 00:19:31,360 --> 00:19:32,920 - Absolutely. - Given the fact 387 00:19:33,000 --> 00:19:35,440 that you're both so experienced, I'm very surprised. 388 00:19:35,680 --> 00:19:38,960 The font in all the sections is different. 389 00:19:39,120 --> 00:19:40,280 [ominous music playing] 390 00:19:40,720 --> 00:19:42,840 I think "The Naturik Co." 391 00:19:42,920 --> 00:19:45,160 - is a very bad name. - I don't get it either. 392 00:19:45,760 --> 00:19:47,640 I couldn't open a single pack. 393 00:19:47,720 --> 00:19:50,280 I tried very hard. The user experience of the packaging 394 00:19:50,360 --> 00:19:51,880 - is very bad too. - I wish to add one thing. 395 00:19:51,920 --> 00:19:53,960 - No, I'm giving my feedback. Please listen. - Sure. 396 00:19:54,000 --> 00:19:56,040 This part of it in the whole story... 397 00:19:56,120 --> 00:19:57,000 Is an area of improvement. 398 00:19:57,120 --> 00:20:01,160 Is a surprisingly large area of improvement. 399 00:20:02,040 --> 00:20:04,000 It's actually 0 out of 10 if you ask. 400 00:20:04,160 --> 00:20:05,480 Looks like an intern made it. 401 00:20:05,560 --> 00:20:06,920 [ominous music playing] 402 00:20:09,400 --> 00:20:11,240 The rest, of course, 403 00:20:11,320 --> 00:20:13,840 your story and clarity 404 00:20:14,040 --> 00:20:16,400 of the way you want to build business, very impressive. 405 00:20:16,480 --> 00:20:18,840 So, love the market and the team. 406 00:20:18,920 --> 00:20:21,200 I'd like to match the valuation Aman gave. 407 00:20:22,560 --> 00:20:24,720 - Okay. - Rs. 50 lakhs at 2.5% equity 408 00:20:24,720 --> 00:20:27,040 which was your original ask. That's my offer. 409 00:20:31,000 --> 00:20:34,880 We're already in talks with a few investors. 410 00:20:35,000 --> 00:20:38,400 We're planning to raise Rs. 4 crores in this round. 411 00:20:38,480 --> 00:20:40,120 This is part of that round. 412 00:20:40,200 --> 00:20:42,720 - We've got a term sheet of Rs. 50 lakhs... - Ouch! That's... 413 00:20:42,800 --> 00:20:44,880 One from the angel network and one from micro VCs 414 00:20:44,960 --> 00:20:46,360 - for Rs. 25 lakhs each. - At what valuation? 415 00:20:46,400 --> 00:20:48,600 The same valuation which we've quoted. 416 00:20:56,440 --> 00:20:59,560 So, I think Rs. 1 crore for 5% equity is a good offer. 417 00:21:00,800 --> 00:21:02,960 That's my offer. Rs. 1 crore for 5%. 418 00:21:09,000 --> 00:21:10,840 - Sahil, you're a DPSite. - Yes. 419 00:21:10,960 --> 00:21:13,360 That won you half the battle. 420 00:21:16,080 --> 00:21:19,160 - Sahil, your opportunity cost is very high. - Yes. 421 00:21:19,240 --> 00:21:22,880 - People like you become the CEOs of big companies... - Absolutely. 422 00:21:22,960 --> 00:21:25,040 - After spending about 30 years with them... - Correct. 423 00:21:25,120 --> 00:21:26,640 You forwent that to do this. 424 00:21:28,120 --> 00:21:29,480 It's a big decision. 425 00:21:29,560 --> 00:21:30,440 - Correct. - A very big one. 426 00:21:30,520 --> 00:21:35,160 However, your progress is very impressive. 427 00:21:35,440 --> 00:21:37,840 - You said you were doing a round for Rs. 4 crores. - Yes. 428 00:21:38,800 --> 00:21:41,480 I'm ready to fund the entire round. 429 00:21:42,880 --> 00:21:44,320 [joyous music playing] 430 00:21:46,160 --> 00:21:47,440 - Thank you so much. - Thank you. 431 00:21:50,520 --> 00:21:52,680 I'm going to join you in taking funding from him! 432 00:21:53,920 --> 00:21:55,320 I can give you two offers. 433 00:21:55,760 --> 00:21:59,000 - Rs. 2 crores for 10% equity... - Yes. 434 00:22:03,160 --> 00:22:04,320 [pensive music playing] 435 00:22:07,560 --> 00:22:08,880 Okay, I'll match that. 436 00:22:13,040 --> 00:22:14,040 Match what? 437 00:22:14,120 --> 00:22:15,360 Exactly your offer. 438 00:22:25,040 --> 00:22:28,160 Sahil, you seem like a very genuine guy. 439 00:22:28,280 --> 00:22:29,440 - Thank you so much. - All right? 440 00:22:29,440 --> 00:22:31,040 - Many questions were asked. - She too. 441 00:22:31,120 --> 00:22:32,000 Thank you. 442 00:22:32,080 --> 00:22:35,160 You accepted it when it came to the packaging. 443 00:22:35,240 --> 00:22:38,120 - You were very calm, which comes from experience. - Yes. 444 00:22:38,200 --> 00:22:42,400 - You mentioned you post videos on social media yourself. - Correct. 445 00:22:42,480 --> 00:22:44,320 That kind of stuck with me. 446 00:22:44,800 --> 00:22:47,360 - You're willing to go to the ground. - Absolutely. 447 00:22:47,760 --> 00:22:49,520 I'll give you an offer too. 448 00:22:50,560 --> 00:22:51,560 Okay. 449 00:22:51,880 --> 00:22:54,640 I'll give you Rs. 50 lakhs for 2.5% equity. 450 00:22:56,080 --> 00:22:57,080 Okay. 451 00:22:57,520 --> 00:22:59,360 Can I make a request? 452 00:22:59,480 --> 00:23:01,040 Everybody quoted the same valuation. 453 00:23:13,080 --> 00:23:14,280 all five Sharks put together, 454 00:23:14,360 --> 00:23:17,720 or even complete the round, all five Sharks put together. 455 00:23:18,920 --> 00:23:20,600 - I have a counter for you. - Sure. 456 00:23:22,560 --> 00:23:24,720 If everybody agrees. Five Sharks will own 12... 457 00:23:24,800 --> 00:23:26,880 No, I don't want to make a counter before talking. 458 00:23:28,040 --> 00:23:30,000 - Wait... - No. I said if you agree. 459 00:23:30,120 --> 00:23:32,280 - A caveat... - Yes, say it once. 460 00:23:41,960 --> 00:23:42,960 Hang on. 461 00:23:45,160 --> 00:23:46,960 - No, but if he takes all five... - Wait. 462 00:23:47,080 --> 00:23:48,080 - Not done. - If they agree. 463 00:23:48,120 --> 00:23:50,120 You still have the option to disagree. 464 00:23:51,440 --> 00:23:52,680 [tense music playing] 465 00:23:53,840 --> 00:23:57,040 - Why don't you discuss this and we will also do the same? - Yes. 466 00:23:57,120 --> 00:23:58,760 - Okay? All of us will get time. - Okay. 467 00:23:58,840 --> 00:24:00,680 - So, go and mull over it. - Thank you. 468 00:24:00,760 --> 00:24:03,600 - Don't forget who was the first to give the offer, Isha! - Absolutely. 469 00:24:03,680 --> 00:24:05,560 - Remember who gave the first offer. - Absolutely. 470 00:24:05,560 --> 00:24:08,000 - I made cheela with you. - Definitely. 471 00:24:08,080 --> 00:24:09,960 Don't forget who showed the most conviction. 472 00:24:10,040 --> 00:24:11,240 Don't you forget! 473 00:24:11,360 --> 00:24:12,880 - Go on, Sahil. Please. - We'll be back. 474 00:24:12,920 --> 00:24:13,920 Give us a few minutes. 475 00:24:14,000 --> 00:24:15,320 [tense music playing] 476 00:24:17,320 --> 00:24:20,800 The valuation is decreasing at 12.5% equity. 477 00:24:21,920 --> 00:24:26,000 I think 20% is a little too high at the very start. 478 00:24:26,080 --> 00:24:28,000 He's going to make a deal outside anyway. 479 00:24:28,080 --> 00:24:31,000 - Food businesses are struggling. - No, don't take 25%. 480 00:24:31,320 --> 00:24:33,680 It is not... If we don't, someone else will! 481 00:24:36,680 --> 00:24:38,040 He will negotiate also. 482 00:24:42,640 --> 00:24:45,760 Sahil and Isha, you only have one offer now. 483 00:24:46,840 --> 00:24:51,280 All five Sharks will give you the Rs. 4 crores for 25% equity. 484 00:24:53,000 --> 00:24:55,080 - Rs. 16 crores. - Make it 16. 485 00:24:58,080 --> 00:24:59,960 ...but don't look at just that. 486 00:25:00,240 --> 00:25:02,160 Your entire funding will be done. 487 00:25:04,240 --> 00:25:06,920 Can we close it at Rs. 18-crore valuation? 488 00:25:12,240 --> 00:25:16,240 - It has been a year since we did the 8.33. - 17 crores. 489 00:25:16,320 --> 00:25:17,680 - How... - Let's... One second. 490 00:25:24,960 --> 00:25:26,200 Not yours, not ours. 491 00:25:27,480 --> 00:25:28,920 - Anupam, I... - Done? 492 00:25:29,000 --> 00:25:30,840 - 18 is fine. - Calculate the percentage. 493 00:25:30,920 --> 00:25:32,200 - So... - Not much of a difference. 494 00:25:33,200 --> 00:25:36,080 It's 22.5. He's asking for 25. Rs. 18 crores is not bad. 495 00:25:36,160 --> 00:25:38,320 - It's 4.4%. - Or you should've agreed for 20. 496 00:25:39,040 --> 00:25:40,440 [tense music playing] 497 00:25:40,600 --> 00:25:42,000 - I think we can do it. - All right. 498 00:25:54,200 --> 00:25:55,480 - DPSite! - [chuckles] 499 00:25:55,560 --> 00:25:56,640 - 2001. - Thank you. 500 00:25:56,760 --> 00:25:57,640 Congratulations... 501 00:25:57,720 --> 00:25:59,040 'For a minute,' 502 00:25:59,120 --> 00:26:01,080 - we were a little awestruck. - Awestruck. 503 00:26:01,400 --> 00:26:05,040 'We got eight times more than what we had asked.' 504 00:26:05,960 --> 00:26:07,960 'So... But God is kind.' 505 00:26:08,040 --> 00:26:10,960 He has his own ways of giving things. 506 00:26:13,520 --> 00:26:14,720 [upbeat music playing] 507 00:26:21,200 --> 00:26:24,000 Welcome to ACKO Change Makers where we really welcome change, 508 00:26:24,400 --> 00:26:27,560 whose lovely portrayal we saw on our Change Makers wall. 509 00:26:32,160 --> 00:26:34,600 And today's Change Makers are Sahil and Isha. 510 00:26:34,680 --> 00:26:37,120 - You were amazing in there. - Thank you. 511 00:26:37,240 --> 00:26:39,800 In India, the quantity of protein in our food 512 00:26:39,880 --> 00:26:42,040 - has always been a big issue... - Correct. 513 00:26:42,120 --> 00:26:43,640 Since we don't meet it from our diet. 514 00:26:43,760 --> 00:26:48,200 Your product does not contain preservatives or refined flour. 515 00:26:48,360 --> 00:26:50,800 You've brought about a big change, we really appreciate that. 516 00:26:51,040 --> 00:26:53,800 On behalf of our audience at home, I wish to ask you a question. 517 00:26:53,880 --> 00:26:56,960 What changes could they bring about in their daily lives 518 00:26:57,040 --> 00:26:58,680 in order to get better nutrition? 519 00:26:58,760 --> 00:27:00,880 First, consume Naturik's products. 520 00:27:01,240 --> 00:27:02,680 - High protein... - Before that, 521 00:27:02,760 --> 00:27:05,280 - Yes, our website... - There's a step in between. 522 00:27:05,440 --> 00:27:07,720 It's important to be aware of this. 523 00:27:07,800 --> 00:27:10,760 The problem is we don't know we're protein deficient. 524 00:27:10,840 --> 00:27:15,160 To help people understand, we have a protein calculator on our website. 525 00:27:15,480 --> 00:27:18,760 - Very nice. - Feed in your age and weight. 526 00:27:18,880 --> 00:27:20,960 - Gender, male or female. - It varies for men and women. 527 00:27:20,960 --> 00:27:24,520 It will calculate your daily protein requirement for you. 528 00:27:24,640 --> 00:27:26,440 We really appreciate the change that you're bringing 529 00:27:26,440 --> 00:27:29,320 just as ACKO brought a change in the insurance space 530 00:27:29,400 --> 00:27:31,200 with its revolutionary offerings. 531 00:27:31,440 --> 00:27:34,080 No more spam calls while buying car insurance! 532 00:27:34,280 --> 00:27:37,080 Avoid the confusion in price and policy coverage 533 00:27:37,200 --> 00:27:38,560 by buying ACKO car insurance. 534 00:27:38,720 --> 00:27:40,720 It's easy, transparent and hassle-free 535 00:27:40,800 --> 00:27:42,120 at just the right premiums. 536 00:27:42,200 --> 00:27:44,840 We wish to appreciate the change you're bringing about 537 00:27:44,920 --> 00:27:47,480 by giving you a gift on behalf of Shark Tank and ACKO. 538 00:27:47,560 --> 00:27:48,560 Thank you. 539 00:27:51,160 --> 00:27:52,160 [camera shutter clicking] 540 00:28:06,240 --> 00:28:08,000 [theme music playing] 541 00:28:22,680 --> 00:28:24,040 What's up? 542 00:28:29,400 --> 00:28:30,880 [theme music concludes] 543 00:28:30,960 --> 00:28:33,200 Sharks, do you remember your childhood days 544 00:28:33,280 --> 00:28:35,640 when you'd come home at 4 pm from school every day, 545 00:28:35,920 --> 00:28:37,280 throw your bags in a corner, 546 00:28:37,360 --> 00:28:40,000 pick up your bats and head to play cricket in the alleys? 547 00:28:40,520 --> 00:28:42,600 What memorable days! What do we do? 548 00:28:42,680 --> 00:28:44,480 We lead such busy lives, 549 00:28:44,680 --> 00:28:46,960 cities have changed, friends have separated 550 00:28:47,040 --> 00:28:49,240 and we've almost stopped playing cricket. 551 00:28:49,400 --> 00:28:51,360 - Right, Aman? - No, I still play. 552 00:28:51,440 --> 00:28:53,040 - You do! That's amazing. - [Aman laughs] 553 00:28:53,120 --> 00:28:54,160 Fantastic. 554 00:28:54,880 --> 00:28:57,080 This time... Uh... 555 00:28:58,080 --> 00:28:59,240 Through this, um... 556 00:28:59,720 --> 00:29:00,720 Friends can... 557 00:29:00,840 --> 00:29:03,280 He gave the wrong answer and ruined your pitch. 558 00:29:03,360 --> 00:29:05,280 Yes! You were right. 559 00:29:05,400 --> 00:29:06,320 [laughs] 560 00:29:06,400 --> 00:29:07,960 You're right. I stopped. 561 00:29:08,040 --> 00:29:09,400 [all laugh] 562 00:29:09,640 --> 00:29:12,520 You stop playing cricket with friends, right? 563 00:29:12,600 --> 00:29:13,440 Yes, you're right. 564 00:29:13,520 --> 00:29:15,640 And it has become almost impossible now. 565 00:29:15,760 --> 00:29:16,880 What? Impossible! 566 00:29:17,040 --> 00:29:19,080 To turn the impossible around, 567 00:29:19,200 --> 00:29:21,440 we present to you MetaShot. 568 00:29:22,680 --> 00:29:24,240 Greetings, Sharks. My name is Ranjit. 569 00:29:24,320 --> 00:29:25,200 I am Prince. 570 00:29:25,280 --> 00:29:26,160 And I am Ajith. 571 00:29:26,240 --> 00:29:28,000 - We're from Bengaluru. - Ooh! 572 00:29:28,560 --> 00:29:31,720 MetaShot is a Mixed Reality Smart Bat. 573 00:29:38,040 --> 00:29:40,120 ...and play cricket using our app. 574 00:29:46,600 --> 00:29:49,280 all from the comfort of your home pitch. 575 00:29:55,880 --> 00:30:00,120 We've sold 18,000 Bats from September 2023 until now. 576 00:30:00,240 --> 00:30:01,160 In future, 577 00:30:01,240 --> 00:30:03,760 we want to use this technology to bring the experience of sports 578 00:30:03,800 --> 00:30:07,320 like pickleball and baseball to every home. 579 00:30:07,400 --> 00:30:11,520 Today, our ask is Rs. 80 lakhs for 1.5% equity. 580 00:30:16,440 --> 00:30:17,240 Wow! 581 00:30:17,440 --> 00:30:19,680 - Ajith, Prince and Ranjit, right? - Yes. 582 00:30:19,920 --> 00:30:22,560 What's the matter? Why have Bollywood's villains gathered here? 583 00:30:22,640 --> 00:30:23,920 [laughter] 584 00:30:24,080 --> 00:30:26,320 - Welcome. - Thank you. 585 00:30:26,520 --> 00:30:28,480 - You've sold 18,000 Bats. - Yes. 586 00:30:28,560 --> 00:30:29,640 That's a big number. 587 00:30:29,720 --> 00:30:31,000 - Yes, thank you. - When you came, 588 00:30:31,000 --> 00:30:33,240 I didn't think you'd have sold that many Bats. 589 00:30:33,320 --> 00:30:35,440 - Are you school or college friends? - Why? 590 00:30:35,600 --> 00:30:36,720 [laughter] 591 00:30:37,000 --> 00:30:39,280 - It felt a bit gimmicky. Let me... - Come on, sir. 592 00:30:39,400 --> 00:30:42,520 So, what is it? Are you college or school friends? 593 00:30:42,880 --> 00:30:44,640 Ajith and I studied together 594 00:30:44,760 --> 00:30:47,560 and Ranjit and I worked at BankBazaar together. 595 00:30:47,640 --> 00:30:52,320 After that, we started a company that made gully cricket bats. 596 00:30:57,280 --> 00:31:01,160 During that phase, we thought of taking cricket to every home. 597 00:31:01,240 --> 00:31:03,640 So, we began our research. 598 00:31:03,720 --> 00:31:05,400 After two years of R&D, 599 00:31:05,480 --> 00:31:07,520 we were able to come out with something 600 00:31:07,640 --> 00:31:09,360 that was a cost-effective technology. 601 00:31:09,760 --> 00:31:11,720 We have an app you can download 602 00:31:11,800 --> 00:31:15,360 and play on your mobile phone, tablet or PC. 603 00:31:24,400 --> 00:31:27,520 you could do a match-up in real time. 604 00:31:27,600 --> 00:31:30,440 So, if a four is hit here, they'll be able to see it too. 605 00:31:30,720 --> 00:31:32,520 This is the power on button. 606 00:31:32,600 --> 00:31:35,200 The moment you press this button, green lights will turn on. 607 00:31:35,320 --> 00:31:38,560 It means that the Bat is connected to the app 608 00:31:38,640 --> 00:31:40,800 and you're ready to play cricket. 609 00:31:46,200 --> 00:31:47,960 Okay, brother. Who will bowl? 610 00:31:48,040 --> 00:31:49,160 The game does it. 611 00:31:53,880 --> 00:31:54,920 You play in apartments. 612 00:31:55,000 --> 00:31:56,680 A full-length bat... 613 00:31:56,760 --> 00:31:57,920 - You could get hurt. - Will hit objects. 614 00:31:57,960 --> 00:31:59,640 - Kids can play too. - That's the idea. 615 00:32:00,000 --> 00:32:02,880 The main thing here is the right stance. 616 00:32:03,120 --> 00:32:05,640 If your stance is off, your shots tend to go off. 617 00:32:06,040 --> 00:32:07,440 After taking the stance, 618 00:32:07,680 --> 00:32:10,160 tap the button, and the ball will come your way. 619 00:32:17,560 --> 00:32:19,640 Oh, I missed it. It is a four. 620 00:32:21,960 --> 00:32:23,320 - Oh my! - It's a six! 621 00:32:23,400 --> 00:32:24,560 Backshot! 622 00:32:24,680 --> 00:32:25,880 Yes, backshot. 623 00:32:26,080 --> 00:32:28,760 - I request Aman and Vineeta to join. - Yes. 624 00:32:28,880 --> 00:32:29,960 Two of you first. 625 00:32:30,120 --> 00:32:32,800 We are switching it to party mode, 626 00:32:32,920 --> 00:32:35,120 where multiple people can play with one bat. 627 00:32:35,360 --> 00:32:36,800 For example, 628 00:32:36,880 --> 00:32:39,400 there will be a match-off between Aman and Vineeta. 629 00:32:40,040 --> 00:32:41,040 Don't defeat me. 630 00:32:45,120 --> 00:32:46,680 Aman, you start. 631 00:32:49,320 --> 00:32:52,400 'The bowler's line and length are perfect.' 632 00:32:52,480 --> 00:32:54,600 'The batsman didn't get a chance.' 633 00:32:54,720 --> 00:32:57,120 This looks difficult. I thought it will be easy. 634 00:32:57,200 --> 00:32:58,800 Is it showing where the ball will bounce? 635 00:32:58,880 --> 00:33:00,400 Yes. That is where the ball will enter. 636 00:33:02,320 --> 00:33:04,400 'Out!' 637 00:33:04,480 --> 00:33:05,480 Oh no! 638 00:33:08,760 --> 00:33:10,120 Whatever! 639 00:33:10,880 --> 00:33:12,120 This looks tough. 640 00:33:12,200 --> 00:33:13,680 - You try it. - You can't do it. 641 00:33:13,800 --> 00:33:16,560 - Press that button. Correct! - Yes. 642 00:33:17,240 --> 00:33:19,920 It's not Gillidanda, it's cricket. 643 00:33:22,960 --> 00:33:24,400 Good! That's a six. 644 00:33:25,200 --> 00:33:26,200 It was a fluke. 645 00:33:26,800 --> 00:33:28,360 'The ball is wondering if you will' 646 00:33:28,480 --> 00:33:29,880 - 'kill it.' - 6 runs, guys! 647 00:33:29,960 --> 00:33:31,240 'Another sixer!' 648 00:33:33,440 --> 00:33:34,560 It is okay for amateurs. 649 00:33:34,680 --> 00:33:36,040 Professional players can't play. 650 00:33:39,720 --> 00:33:41,480 - 'This was bound to happen.' - That's a four. 651 00:33:41,520 --> 00:33:43,280 'Another four!' 652 00:33:47,040 --> 00:33:49,800 - Okay! - Oh! Who's the winner? 653 00:33:50,440 --> 00:33:52,040 She is! 654 00:33:52,120 --> 00:33:53,160 Hey! 655 00:33:53,840 --> 00:33:55,520 - Guys, one question. - Yes. 656 00:33:55,600 --> 00:33:57,560 Have you heard of Nintendo? 657 00:33:57,760 --> 00:34:00,040 - Yeah! - Wii, right? 658 00:34:00,120 --> 00:34:01,560 The technology is very different. 659 00:34:01,640 --> 00:34:03,960 What we are using is a different technology. 660 00:34:04,040 --> 00:34:07,280 You tell us about your and Wii's technology... 661 00:34:07,400 --> 00:34:10,120 Now that AR is taking over, 662 00:34:10,360 --> 00:34:12,360 what role does this play in AR and VR? 663 00:34:21,840 --> 00:34:23,560 What we made is with sensors. 664 00:34:23,680 --> 00:34:25,080 Our bats have sensors. 665 00:34:40,440 --> 00:34:42,160 - you are keeping your phone somewhere. - Yeah. 666 00:34:42,160 --> 00:34:43,040 Right? Where are you keeping it? 667 00:34:43,120 --> 00:34:44,640 - The tablet is here. - It's a tablet. 668 00:34:45,200 --> 00:34:46,800 The data is passing through Bluetooth from your phone. 669 00:34:46,840 --> 00:34:48,200 - Through Bluetooth? - Yes. 670 00:34:48,280 --> 00:34:50,920 - Okay! - So, that's the primary interface between the device... 671 00:34:51,000 --> 00:34:53,040 - Device and the app. - And the bat. 672 00:34:53,120 --> 00:34:54,720 TV is just a mirroring device. 673 00:34:54,840 --> 00:34:56,920 - It has nothing else to do with it. - Correct. 674 00:34:57,040 --> 00:34:59,400 You are using Bluetooth. 675 00:34:59,640 --> 00:35:01,520 Will you get instantaneous feedback? 676 00:35:01,600 --> 00:35:02,760 Because if there's 677 00:35:02,920 --> 00:35:06,560 even a 5 to 10 millisecond delay, it's a game-changer. 678 00:35:06,880 --> 00:35:10,760 You just mentioned the lag in our game. 679 00:35:10,880 --> 00:35:13,440 If you start playing for one to two hours, 680 00:35:13,600 --> 00:35:14,760 then you get into a zone. 681 00:35:14,840 --> 00:35:18,080 After a certain point, you can almost play any shot, 682 00:35:18,160 --> 00:35:19,600 piercing between the fielders. 683 00:35:19,760 --> 00:35:22,320 We've also observed this when four players join... 684 00:35:22,440 --> 00:35:23,560 We also witnessed that here. 685 00:35:23,720 --> 00:35:25,440 You build an emotion around the game. 686 00:35:25,600 --> 00:35:27,800 - That takes the game forward. - You are 100% confident 687 00:35:27,920 --> 00:35:29,040 that there is no issue with the technology. 688 00:35:29,080 --> 00:35:30,520 - No! - Right? Okay! 689 00:35:31,200 --> 00:35:33,160 Is this a first-generation product, 690 00:35:41,640 --> 00:35:43,760 Do you have to buy a subscription? 691 00:35:43,840 --> 00:35:45,080 - No! - The app is free. 692 00:35:56,200 --> 00:35:58,360 ...that we recently launched. 693 00:35:58,440 --> 00:36:01,080 Once you buy that, all the grounds become accessible. 694 00:36:09,240 --> 00:36:10,840 - by selling the VIP Pass. - Wow! 695 00:36:10,920 --> 00:36:14,000 Are people playing like we just did, 696 00:36:14,160 --> 00:36:16,800 or are they playing across the net with their friends? 697 00:36:17,080 --> 00:36:18,560 So, there is a good combination. 698 00:36:18,640 --> 00:36:21,600 Currently, 35% are playing with friends. 699 00:36:21,880 --> 00:36:23,920 65% is single mode. 700 00:36:24,000 --> 00:36:26,040 As the user base grows, 701 00:36:26,120 --> 00:36:28,120 more people will start playing with friends. What we're also seeing 702 00:36:28,120 --> 00:36:30,800 - is that gifting has become a significant use case. - Yeah. 703 00:36:30,880 --> 00:36:34,240 20% of total sales is through gifting. 704 00:36:38,160 --> 00:36:41,880 ...by people who are playing with their friends over the net? 705 00:36:41,960 --> 00:36:43,400 - 6,000. - More than 6,000. 706 00:36:43,520 --> 00:36:47,480 So, 6,000 people are playing this game with each other every day. 707 00:36:47,600 --> 00:36:48,840 - No, not every day. - Not daily. 708 00:36:48,880 --> 00:36:51,800 - You multiplied the number of bats you sold. - Correct. 709 00:36:51,920 --> 00:36:53,600 He is saying 710 00:36:53,680 --> 00:36:57,240 - that there is a daily average of users as an app metric. - Yes. 711 00:36:57,320 --> 00:36:59,000 - That is 800. - Correct. 800. 712 00:36:59,680 --> 00:37:00,880 What is your WAU and MAU? 713 00:37:00,960 --> 00:37:02,840 WAU is 2,300. 714 00:37:06,360 --> 00:37:09,840 DAU, WAU and MAU, sound confusing. 715 00:37:09,920 --> 00:37:11,520 But they are quite simple. 716 00:37:11,640 --> 00:37:13,840 DAU means Daily Active Users. 717 00:37:13,920 --> 00:37:16,120 WAU stands for Weekly Active Users. 718 00:37:16,200 --> 00:37:18,440 And MAU is Monthly Active Users. 719 00:37:18,600 --> 00:37:20,480 For a product, it's important to track 720 00:37:20,560 --> 00:37:22,400 how many active users are using the service 721 00:37:22,480 --> 00:37:26,600 or product on a daily, weekly, and monthly basis. 722 00:37:26,800 --> 00:37:29,680 When you divide DAU by MAU, 723 00:37:29,760 --> 00:37:32,280 you get a stickiness ratio. It shows 724 00:37:32,360 --> 00:37:35,120 how loyal the product's users are 725 00:37:35,240 --> 00:37:38,080 and how much the retention will be in the future. 726 00:37:39,120 --> 00:37:41,800 How much do people play? Let's say someone bought a bat. 727 00:37:41,880 --> 00:37:43,560 How many times do they play in a month 728 00:37:43,640 --> 00:37:45,520 and for how many minutes? 729 00:37:45,680 --> 00:37:47,720 Currently, our game session length 730 00:37:47,920 --> 00:37:49,920 is around 35 minutes. That's the average. 731 00:37:50,000 --> 00:37:52,720 Out of that, those who play beyond 60 minutes 732 00:37:52,840 --> 00:37:54,320 is around 40%. 733 00:38:02,040 --> 00:38:04,720 - Wow! - Eighth month. I'll give you another corresponding fact. 734 00:38:04,800 --> 00:38:06,520 What happens is 735 00:38:06,680 --> 00:38:09,240 the metric of MAU to Total Unit Sold, 736 00:38:09,360 --> 00:38:11,880 it is a commonly used metric for consoles 737 00:38:12,120 --> 00:38:13,960 and hardware gaming devices. 738 00:38:14,040 --> 00:38:17,680 So, MAU to total units sold for PS5 is 35%. 739 00:38:17,840 --> 00:38:19,120 - Yours is 33%. - Yes. 740 00:38:19,240 --> 00:38:20,240 - Yeah! - Exactly! 741 00:38:20,480 --> 00:38:22,720 What is the rating of your app? 742 00:38:38,440 --> 00:38:42,960 We remember that at our friend's driveway, 743 00:38:43,040 --> 00:38:45,360 we used to move the cars and play there. 744 00:38:45,440 --> 00:38:47,640 Those who want to play 745 00:38:47,720 --> 00:38:50,200 they will play anywhere if he has a cricket ball and bat. 746 00:38:50,280 --> 00:38:51,160 You are right! 747 00:38:51,240 --> 00:38:54,280 This is an ideal situation from the audience's perspective. 748 00:38:54,400 --> 00:38:56,080 This is what everyone should do. 749 00:38:56,360 --> 00:38:58,080 But the one who returns home after work 750 00:38:58,200 --> 00:38:59,760 and doesn't have time. 751 00:38:59,880 --> 00:39:04,240 Let's say 32-45 year-old who also ends up working on a weekend. 752 00:39:04,320 --> 00:39:06,000 And his friend circle changes. 753 00:39:06,080 --> 00:39:08,840 His friend circle has changed. 754 00:39:08,960 --> 00:39:11,920 So, they don't have an option to form a team again... 755 00:39:12,000 --> 00:39:15,760 Here, the player has to bat. They can't bowl. 756 00:39:16,000 --> 00:39:17,200 So, where is the team part? 757 00:39:17,320 --> 00:39:18,840 In this, what we are doing 758 00:39:18,920 --> 00:39:20,800 is creating the concept of a team. Where... 759 00:39:20,920 --> 00:39:24,120 - Let's say you are the captain and you added four friends. - Always! 760 00:39:24,200 --> 00:39:28,160 That is a small team and you named it Shark Tank. 761 00:39:28,280 --> 00:39:31,800 That team can compete simultaneously with another team. 762 00:39:32,480 --> 00:39:34,680 Selling 18,000 units of your product 763 00:39:35,120 --> 00:39:36,680 is not an easy task. 764 00:39:36,760 --> 00:39:38,040 How, where and why did you sell? 765 00:39:38,080 --> 00:39:39,600 Also, share your revenue. 766 00:39:39,680 --> 00:39:42,920 The first video we made that went viral. 767 00:39:43,080 --> 00:39:45,480 There is a husband who keeps doing this. 768 00:39:45,560 --> 00:39:48,320 - Yes! - The wife feels bad for him. 769 00:39:48,400 --> 00:39:49,920 Do it and show us. 770 00:39:50,000 --> 00:39:52,320 One of you become a husband and one of you become a wife. 771 00:39:52,440 --> 00:39:53,320 Show us now. 772 00:39:53,440 --> 00:39:55,240 I always do this 773 00:39:56,040 --> 00:39:57,640 - because I don't have a friend. - The wife is looking at him. 774 00:39:57,680 --> 00:39:59,080 I do that too. 775 00:39:59,200 --> 00:40:01,320 - I do this. - He is playing air cricket all day long. 776 00:40:01,520 --> 00:40:04,120 The wife is observing him. She realises 777 00:40:04,360 --> 00:40:06,240 that he wants to play, 778 00:40:06,480 --> 00:40:08,880 but he is tired after returning and doesn't have the time. 779 00:40:09,000 --> 00:40:10,600 And Ajith is looking at both of you from a distance. 780 00:40:10,640 --> 00:40:12,120 Oh, wow! 781 00:40:13,840 --> 00:40:15,520 She gives me a gift. 782 00:40:15,640 --> 00:40:17,040 What I do 783 00:40:17,160 --> 00:40:19,600 is that I start playing with that. 784 00:40:19,680 --> 00:40:22,640 I feel like I can play like before. 785 00:40:22,760 --> 00:40:23,560 Then the wife hits him... 786 00:40:23,640 --> 00:40:25,120 She asks her mother-in-law to join 787 00:40:25,240 --> 00:40:27,400 - and all of them play as a family. - Family. 788 00:40:27,520 --> 00:40:30,760 That video garnered close to 60 million views. 789 00:40:30,840 --> 00:40:32,800 - Wow! - 60 million? 790 00:40:32,880 --> 00:40:35,360 - 60 million views on YouTube Shorts.- On YouTube? 791 00:40:42,720 --> 00:40:45,880 - uploaded a video and it received 100 million views. - Correct. 792 00:40:46,280 --> 00:40:48,520 You can't go beyond that at the beginning. 793 00:40:48,640 --> 00:40:49,480 It happened again. 794 00:40:49,560 --> 00:40:51,120 - It went up to 70 million views. - Wow! 795 00:40:51,160 --> 00:40:52,840 Okay! How much did you sell? 796 00:40:52,960 --> 00:40:55,760 Our first lot was 500 units. 797 00:40:55,880 --> 00:40:58,080 When the video went viral in September, 798 00:40:58,160 --> 00:41:00,280 we sold all our products in ten days. 799 00:41:04,880 --> 00:41:09,120 That quarter we almost did Rs. 1.76 crores. 800 00:41:09,360 --> 00:41:11,360 And then, in January, 801 00:41:11,480 --> 00:41:12,880 is when we were planning to be in 802 00:41:13,320 --> 00:41:15,520 the marketplace, either Flipkart or Amazon. 803 00:41:16,560 --> 00:41:20,400 That quarter we did a business of Rs. 1.13 crores. 804 00:41:20,520 --> 00:41:23,400 We went live on Flipkart in April. 805 00:41:27,200 --> 00:41:28,760 And this quarter we will be 806 00:41:28,840 --> 00:41:31,320 doing Rs. 2.4-Rs. 2.5 crores. 807 00:41:36,880 --> 00:41:38,760 more people will start making this. 808 00:41:49,400 --> 00:41:51,200 It has three sensors, 809 00:41:51,280 --> 00:41:54,120 accelerometer, gyroscope and magnetometer. 810 00:41:54,240 --> 00:41:55,840 What these three do is, 811 00:41:55,920 --> 00:41:57,720 one captures position data, 812 00:42:06,400 --> 00:42:09,520 ...the 3D motion is captured and integrated into our game. 813 00:42:09,600 --> 00:42:10,640 And this is proprietary. 814 00:42:10,720 --> 00:42:13,000 In fact, we've applied for a patent. 815 00:42:17,720 --> 00:42:19,960 - Technology... - And you are the CEO. 816 00:42:20,080 --> 00:42:21,280 And he gives moral support. 817 00:42:21,400 --> 00:42:23,240 - No! - What do you do? 818 00:42:23,320 --> 00:42:24,560 He doesn't speak. 819 00:42:24,960 --> 00:42:26,160 I am the CFO of the company. 820 00:42:26,240 --> 00:42:29,960 I manage accounts, CS and Customer Service. 821 00:42:30,120 --> 00:42:31,760 Tell us your equity split. 822 00:42:31,840 --> 00:42:34,640 31%, 21% and 20%. 823 00:42:34,760 --> 00:42:36,240 Tell us the unit economics. 824 00:42:36,800 --> 00:42:39,800 Our COGS is around 57%. 825 00:42:40,040 --> 00:42:43,280 - Then direct expenses will be around 3%. - Right! 826 00:42:43,600 --> 00:42:46,040 - Shipping is around 5%. - Correct. 827 00:42:46,200 --> 00:42:49,560 We have our customer acquisition cost, which is 17%. 828 00:42:49,640 --> 00:42:52,920 - Very good. - Branding and other expenses will be around 8%. 829 00:42:54,440 --> 00:42:56,600 Net will be around 10%. 830 00:42:56,680 --> 00:43:00,360 Salaries are our fixed expenses. 831 00:43:00,680 --> 00:43:02,880 It is around Rs. 25 lakhs. 832 00:43:03,040 --> 00:43:05,440 Our burn is Rs. 17 lakhs every month. 833 00:43:05,520 --> 00:43:07,480 - There is a burn. - Yes. 834 00:43:07,600 --> 00:43:09,960 You must have raised funding if there is a burn. 835 00:43:10,320 --> 00:43:14,040 In June 2023, we raised half a million. 836 00:43:14,160 --> 00:43:15,680 - Whoa! - Nice! 837 00:43:15,760 --> 00:43:17,280 - Rs. 4 crores. - Rs. 4.2 crores, bro. 838 00:43:17,360 --> 00:43:20,160 From Ventana Ventures, which is a gaming fund. 839 00:43:20,280 --> 00:43:22,560 - Okay! - And from IPV. 840 00:43:22,640 --> 00:43:24,520 And a few other angels. 841 00:43:24,600 --> 00:43:26,200 - And that was... - What was the valuation? 842 00:43:26,240 --> 00:43:28,800 Back then, post-money was Rs. 40 crores. 843 00:43:28,880 --> 00:43:30,400 Well done. After that? 844 00:43:30,720 --> 00:43:33,120 We haven't raised after that. 845 00:43:33,200 --> 00:43:35,040 - Now, we... - Were you waiting for Shark Tank? 846 00:43:35,080 --> 00:43:38,080 No, we have signed a term sheet. 847 00:43:38,160 --> 00:43:39,760 Term sheet of Rs. 53 crores? 848 00:43:39,840 --> 00:43:41,920 Yeah! That is the valuation we asked for. 849 00:43:42,000 --> 00:43:43,680 Who signed this term sheet? 850 00:43:43,760 --> 00:43:46,400 Sauce VC and Sharrp. 851 00:43:46,480 --> 00:43:48,000 Sauce is investing in this? 852 00:43:48,120 --> 00:43:49,120 And how much? 853 00:43:53,840 --> 00:43:55,080 - Okay! - It's huge. 854 00:43:55,160 --> 00:43:57,040 Why do you think this is a huge market? 855 00:43:57,880 --> 00:43:58,960 Let's take India for example. 856 00:43:59,000 --> 00:44:01,600 In India, it is in around 330 million homes. 857 00:44:01,720 --> 00:44:05,000 Let's figure out the addressable market who can buy. 858 00:44:18,040 --> 00:44:20,640 ...where they have 60-70 million paid subscriptions at their peak. 859 00:44:20,680 --> 00:44:22,000 That is how you triangulated it 860 00:44:22,120 --> 00:44:24,640 and you estimated 50-60 million. 861 00:44:24,720 --> 00:44:26,200 In your estimation, 862 00:44:26,240 --> 00:44:27,480 how much penetration can you do 863 00:44:27,600 --> 00:44:29,280 and how many devices can you sell per year? 864 00:44:57,920 --> 00:44:59,720 for gaming as revenue 865 00:44:59,800 --> 00:45:03,600 will be moving around 5%-6% of the overall revenue. 866 00:45:03,680 --> 00:45:05,440 But gaming revenue is pure bottom line. 867 00:45:05,760 --> 00:45:07,320 Okay, got it. Thank you. 868 00:45:07,800 --> 00:45:10,160 I think it is a huge market. 869 00:45:10,280 --> 00:45:12,000 The product is different. 870 00:45:12,080 --> 00:45:14,480 Also, I like the entrepreneurs. 871 00:45:14,600 --> 00:45:16,880 - You are positive and smiling entrepreneurs. - Thank you. 872 00:45:16,920 --> 00:45:19,800 I wanted to give you a valuation of around Rs. 20 crores. 873 00:45:20,160 --> 00:45:22,720 But you already got a valuation of Rs 55 crores. 874 00:45:22,800 --> 00:45:24,480 So, you will not go with my valuation 875 00:45:25,320 --> 00:45:27,960 So, I will have to be out, unfortunately. 876 00:45:29,200 --> 00:45:30,960 I am out. 877 00:45:32,160 --> 00:45:33,160 Thank you, sir! 878 00:45:34,240 --> 00:45:37,920 I am into cycling. So, I use a software called Wahoo KICKR. 879 00:45:38,040 --> 00:45:40,320 When I am cycling, I feel like 880 00:45:40,440 --> 00:45:42,320 I am cycling with people 881 00:45:42,400 --> 00:45:44,320 and visiting different cities in the world. 882 00:45:44,400 --> 00:45:46,400 It is quite expensive. A global brand. 883 00:45:46,480 --> 00:45:48,520 But I think that works. 884 00:45:48,640 --> 00:45:52,120 I think you can make this more than a video game. 885 00:45:52,200 --> 00:45:54,760 Because at the end of the day, it requires some movement. 886 00:45:56,280 --> 00:45:59,520 - And movement is important. - Yes. 887 00:45:59,640 --> 00:46:02,400 - Because of a sedentary lifestyle. - Absolutely. 888 00:46:02,520 --> 00:46:05,320 So, if you position this not just as a video game, 889 00:46:05,400 --> 00:46:08,320 but also as a form of exercise, 890 00:46:08,400 --> 00:46:10,240 I believe it has great potential. 891 00:46:10,320 --> 00:46:13,800 Also, the fact that it's made in India, 892 00:46:13,840 --> 00:46:15,520 I think it's fantastic. 893 00:46:15,520 --> 00:46:16,880 Thank you! Thank you very much. 894 00:46:16,960 --> 00:46:20,440 So, I want to offer Rs. 50 lakhs for 2%. 895 00:46:22,520 --> 00:46:24,600 The rest, Rs. 30 lakhs will be debt 896 00:46:24,760 --> 00:46:27,120 at 10% interest cost. 897 00:46:31,600 --> 00:46:33,880 I'm conflicted. This is unusual for me, 898 00:46:33,960 --> 00:46:36,120 as I usually make decisions quickly. 899 00:46:36,480 --> 00:46:39,680 I feel an emotional connection with this idea 900 00:46:39,760 --> 00:46:42,000 because both my son and daughter 901 00:46:42,080 --> 00:46:44,960 are engrossed in cricket nowadays. 902 00:46:45,400 --> 00:46:48,200 So, I understand why this is selling. 903 00:46:48,760 --> 00:46:52,640 But I feel this business is still not out of the danger zone. 904 00:46:53,080 --> 00:46:54,920 But your valuation 905 00:46:55,120 --> 00:46:57,440 will help you out of this danger zone. 906 00:46:58,360 --> 00:47:01,160 That is why I am hesitant, 907 00:47:02,200 --> 00:47:07,840 I don't want to give you a valuation which I know you will not accept. 908 00:47:07,920 --> 00:47:11,080 If I were in your place, as a founder, I wouldn't have accepted it. 909 00:47:11,200 --> 00:47:13,760 Someone is investing Rs. 8 crore at a valuation of Rs. 53 crore. 910 00:47:13,880 --> 00:47:16,680 Why will I accept Rs. 20-Rs. 25 crores valuation? 911 00:47:16,760 --> 00:47:18,080 - Excuse me! - But... 912 00:47:18,160 --> 00:47:19,520 [laughing] 913 00:47:19,680 --> 00:47:23,800 But Vineeta is a good founder and investor, you can accept her offer. 914 00:47:24,160 --> 00:47:25,520 Okay! But... 915 00:47:25,640 --> 00:47:27,280 - Don't take it from anyone else. - What is your final decision? 916 00:47:27,280 --> 00:47:28,880 I am out today. 917 00:47:31,360 --> 00:47:33,440 I want to tell you 918 00:47:33,520 --> 00:47:36,320 that out of all the pitches I came across in Shark Tank, 919 00:47:36,400 --> 00:47:39,600 this might have been the most difficult decision for me. 920 00:47:39,800 --> 00:47:40,800 Thank you! 921 00:47:41,240 --> 00:47:42,920 I like a few things. 922 00:47:43,000 --> 00:47:45,560 When I saw this for the first time, I completely dismissed it. 923 00:47:47,720 --> 00:47:49,880 I've seen many apps 924 00:47:49,960 --> 00:47:51,800 that leverage a phone's capabilities 925 00:47:51,960 --> 00:47:53,880 and hand gestures, 926 00:47:54,120 --> 00:47:55,880 but none have been successful. 927 00:47:56,040 --> 00:47:57,800 But no one was successful. 928 00:47:58,040 --> 00:47:59,920 And the reason I think their approach was wrong. 929 00:48:00,320 --> 00:48:01,840 The technology didn't mature. 930 00:48:02,200 --> 00:48:04,480 I think that maturity is finally starting to emerge. 931 00:48:04,800 --> 00:48:07,560 I can see all of you are really mature. 932 00:48:07,640 --> 00:48:09,040 You were very patient 933 00:48:09,160 --> 00:48:11,360 and thinking long term. That is what I think. 934 00:48:11,440 --> 00:48:12,600 So, I'll make you two offers. 935 00:48:13,680 --> 00:48:14,680 Okay? 936 00:48:14,720 --> 00:48:16,520 One offer is 937 00:48:17,000 --> 00:48:19,040 since your valuation is too high 938 00:48:19,160 --> 00:48:21,040 and there won't be enough skin in the game. 939 00:48:21,120 --> 00:48:22,880 If you want equity, 940 00:48:23,040 --> 00:48:26,520 I'm willing to invest Rs. 1.5 crores, but I need 5%. 941 00:48:32,080 --> 00:48:34,440 But I'll take a 1% royalty on your sales 942 00:48:34,520 --> 00:48:36,000 until I get my money back. 943 00:48:40,280 --> 00:48:42,040 How many engineers do you have? 944 00:48:42,120 --> 00:48:44,880 Game side, we have five people. 945 00:48:45,000 --> 00:48:46,280 - And? - Four people in hardware. 946 00:48:49,160 --> 00:48:51,360 Okay! I'll make you an offer. 947 00:48:53,120 --> 00:48:55,600 But it is not for what you are doing today. 948 00:48:56,800 --> 00:48:58,760 I didn't like this form factor a lot. 949 00:48:58,880 --> 00:49:00,440 I'll be very honest. 950 00:49:00,560 --> 00:49:03,160 I also think that you have a strong vision. 951 00:49:03,480 --> 00:49:04,480 You have a good team. 952 00:49:04,680 --> 00:49:07,280 With that in mind, I will give you a simple offer. 953 00:49:07,360 --> 00:49:10,160 Okay? No royalty or debt. 954 00:49:10,480 --> 00:49:11,920 Rs. 80 lakhs for 2.5%. 955 00:49:16,840 --> 00:49:18,640 Thank you! Give us a minute. 956 00:49:19,920 --> 00:49:22,480 - He said 5%, we can offer 4%. - Yes. 957 00:49:22,880 --> 00:49:24,120 We will see. 958 00:49:24,200 --> 00:49:25,480 - It will be done. - Yes. 959 00:49:25,840 --> 00:49:29,440 - We will request. - Should we do one combo... 960 00:49:29,560 --> 00:49:31,040 We can do 1.4. 961 00:49:33,120 --> 00:49:35,920 Welcome, Team Villain. Tell us what will you do. 962 00:49:36,000 --> 00:49:38,280 And who will you hit with this bat? 963 00:49:38,360 --> 00:49:40,000 We have an offer. 964 00:49:40,080 --> 00:49:41,600 Oh, you have an offer! 965 00:49:41,720 --> 00:49:43,000 A counteroffer. 966 00:49:43,880 --> 00:49:45,600 Rs. 1.6 crores for 4% 967 00:49:53,760 --> 00:49:55,400 Let's discuss it once. 968 00:49:56,360 --> 00:49:57,840 So, I am out. 969 00:49:58,520 --> 00:49:59,440 Thank you. 970 00:49:59,520 --> 00:50:00,640 They already did that. 971 00:50:00,760 --> 00:50:02,440 - That's why I am out. - Okay! 972 00:50:02,560 --> 00:50:05,680 I understood that this is your factor. 973 00:50:06,240 --> 00:50:07,280 Okay! 974 00:50:09,520 --> 00:50:12,200 - They are back! - Guys, we have a counteroffer for you. 975 00:50:14,320 --> 00:50:16,680 Rs. 1.6 crores for 5%. 976 00:50:25,440 --> 00:50:27,800 You will do it. You guys are cool as cucumbers. 977 00:50:27,920 --> 00:50:29,040 [mumbling] 978 00:50:29,120 --> 00:50:31,280 I just reached your company name. 979 00:50:31,360 --> 00:50:32,600 - Gillidanda Tech. - I love the company name. 980 00:50:32,640 --> 00:50:33,880 - Thank you! - Gillidanda Tech. 981 00:50:34,200 --> 00:50:35,240 Come on, decide! 982 00:50:37,480 --> 00:50:40,600 So, Anupam and Vineeta, deal accepted! 983 00:50:40,720 --> 00:50:42,600 [cheering] 984 00:50:55,720 --> 00:50:56,720 [camera shutter clicks] 985 00:51:08,240 --> 00:51:11,640 Welcome, Ranjit, Ajith and Prince, to the PokerBaazi Zone, 986 00:51:11,720 --> 00:51:13,120 where you hold the cards. 987 00:51:16,760 --> 00:51:18,240 - Is his name Ajith? - Yeah! 988 00:51:18,320 --> 00:51:20,080 But he has the personality of Ranjit. 989 00:51:20,200 --> 00:51:21,320 Right? 990 00:51:45,320 --> 00:51:46,680 When you've cracked something 991 00:51:46,800 --> 00:51:49,200 and things have started to work out for you guys. 992 00:51:49,320 --> 00:51:50,920 And the third one is where you are. 993 00:51:51,000 --> 00:51:53,520 You are earning double the money than you expected. 994 00:51:53,680 --> 00:51:54,840 That is the maturity phase. 995 00:51:55,040 --> 00:51:57,800 I want you to share a story of this journey, 996 00:51:57,880 --> 00:52:00,040 which is from one of these phases. Any memorable story? 997 00:52:00,120 --> 00:52:01,920 - Last year, in September... - Hmm! 998 00:52:02,040 --> 00:52:04,280 We had uploaded our first video. 999 00:52:04,400 --> 00:52:05,760 That video became viral 1000 00:52:05,840 --> 00:52:09,840 and because of that, our sales rocketed. 1001 00:52:09,920 --> 00:52:12,040 He was taking calls when he was in the hospital. 1002 00:52:12,120 --> 00:52:13,360 Okay! 1003 00:52:13,440 --> 00:52:15,520 - Our products were sold out that month. - Very nice. 1004 00:52:42,720 --> 00:52:46,600 If you want to test your skills and strategy, visit the PokerBaazi app 1005 00:52:46,680 --> 00:52:48,840 and make your winning hand and put your strategies to the test. 1006 00:52:48,880 --> 00:52:49,920 Download the app now! 1007 00:52:51,000 --> 00:52:54,120 I know all of you well. 1008 00:52:54,560 --> 00:52:56,560 You want to sit at home and give real-time feedback. 1009 00:52:56,600 --> 00:52:58,920 This is how this shot should be played in cricket. 1010 00:52:59,120 --> 00:53:00,680 He should have swung the bat like this. 1011 00:53:00,960 --> 00:53:03,000 The Sharks should invest in this and not that. 1012 00:53:03,280 --> 00:53:05,200 If you have the courage, then do it in real-time. 1013 00:53:15,760 --> 00:53:18,040 Hurry up and visit the Lenskart app or Lenskart.com. 1014 00:53:21,680 --> 00:53:23,720 [engine whirring] 1015 00:53:32,720 --> 00:53:34,680 [theme music playing] 1016 00:53:35,920 --> 00:53:36,920 Hey! 1017 00:53:37,080 --> 00:53:38,320 Whoa! 1018 00:53:44,000 --> 00:53:46,360 Let's dance! 1019 00:53:51,400 --> 00:53:53,320 - Oh my! - Oh no! 1020 00:53:53,400 --> 00:53:56,880 Brother-in-law, you are a Sardar, how can you eat a vegetarian dish? 1021 00:53:56,960 --> 00:53:59,440 - What's wrong? Did you fight with my sister? - Oh my! 1022 00:53:59,520 --> 00:54:01,000 Are you in a bad mood? 1023 00:54:01,080 --> 00:54:04,240 Let it be and stop this nonsense. 1024 00:54:04,520 --> 00:54:05,720 [laughing] 1025 00:54:05,800 --> 00:54:08,920 Then he will say that Vegetable Biryani is not Biryani. 1026 00:54:09,000 --> 00:54:10,120 - Obviously! - Right! 1027 00:54:10,200 --> 00:54:13,720 What else do vegetarians eat other than paneer? 1028 00:54:13,800 --> 00:54:15,600 Ask Aman, that is the truth. 1029 00:54:16,360 --> 00:54:17,920 Please stop it and let me eat. 1030 00:54:18,000 --> 00:54:19,360 [laughing] 1031 00:54:19,560 --> 00:54:23,040 It looks delicious, let me taste it. 1032 00:54:23,360 --> 00:54:24,640 Please let me taste it. 1033 00:54:24,720 --> 00:54:25,720 Here, try it. 1034 00:54:26,840 --> 00:54:28,200 Don't do it. My mouth is watering. 1035 00:54:28,280 --> 00:54:29,560 We are hungry. 1036 00:54:29,720 --> 00:54:32,280 Hey! What is this? 1037 00:54:32,840 --> 00:54:35,360 - Did you love it? - Of course, I did. 1038 00:54:35,760 --> 00:54:38,520 Because this is the ultimate weapon for vegetarians. 1039 00:54:38,600 --> 00:54:40,280 - Huh? - Gabru Di Chaap. 1040 00:54:42,320 --> 00:54:46,360 Gabru Di Chaap is India's first premium soya chaap QSR chain 1041 00:54:53,120 --> 00:54:54,880 From kebabs to biryani 1042 00:55:05,560 --> 00:55:08,320 ...is a hit in the Delhi NCR region. 1043 00:55:08,400 --> 00:55:11,640 But its awareness is less in other parts of India. 1044 00:55:12,560 --> 00:55:15,640 At Gabru Di Chaap, we aim to not only expand the market 1045 00:55:22,040 --> 00:55:26,680 Gabru Di Chaap was started in 2019 in a humble 80 sq ft store. 1046 00:55:27,400 --> 00:55:30,440 Now, we are in four cities with 25 outlets, 1047 00:55:30,560 --> 00:55:33,240 - winning the hearts of thousands of customers every day. - Wow! 1048 00:55:33,320 --> 00:55:35,680 Our vision is to establish Gabru Di Chaap 1049 00:55:35,760 --> 00:55:39,400 as a globally recognised and reliable brand in the next 5 years. 1050 00:55:40,440 --> 00:55:42,520 Hello, Sharks! My name is Tarun. 1051 00:55:49,160 --> 00:55:50,240 Oh my! 1052 00:55:50,320 --> 00:55:51,560 Our ask is 1053 00:55:51,640 --> 00:55:56,640 Rs. 69,99,950 for 1% equity. 1054 00:55:56,960 --> 00:55:58,360 Why do you deduct Rs. 50? 1055 00:55:58,520 --> 00:55:59,640 That was for his overacting. 1056 00:55:59,680 --> 00:56:00,800 [laughing] 1057 00:56:00,880 --> 00:56:03,200 - Good one! - Sharks, our genuine ask is 1058 00:56:03,360 --> 00:56:05,360 Rs. 70 lakhs for 1% equity. 1059 00:56:11,880 --> 00:56:13,240 Amazing! 1060 00:56:14,080 --> 00:56:16,280 Hello, Sir. Hi! 1061 00:56:16,360 --> 00:56:19,440 - Hello. - Welcome to Shark Tank India Season 4. 1062 00:56:19,640 --> 00:56:20,720 Shall we try the food? 1063 00:56:20,800 --> 00:56:22,720 Good question, good point, bring the food. 1064 00:56:22,840 --> 00:56:23,960 Okay, sure. 1065 00:56:26,120 --> 00:56:27,560 We will show everyone and eat. 1066 00:56:27,640 --> 00:56:29,800 [laughing] 1067 00:56:31,480 --> 00:56:33,720 - Hi, Aman. This is for you. - All of it? 1068 00:56:33,800 --> 00:56:34,800 Pure vegetarian! 1069 00:56:35,160 --> 00:56:36,920 - 100% vegetarian. - Thank you 1070 00:56:37,000 --> 00:56:38,840 - for the shikanji. - Oh my, they have shikanji. 1071 00:56:38,880 --> 00:56:39,920 - I thought... - There is cola in it. 1072 00:56:39,920 --> 00:56:42,400 Anupam, a vegan dish especially for you. 1073 00:56:45,120 --> 00:56:46,840 Can't wait to try. 1074 00:56:46,960 --> 00:56:50,280 Anupam, a special vegan soya chaap for you. 1075 00:56:50,360 --> 00:56:51,440 Thank you, brother. 1076 00:56:51,920 --> 00:56:52,960 Please try them. 1077 00:56:53,120 --> 00:56:56,680 There are four flavours of Chaap on your plate. 1078 00:57:06,600 --> 00:57:07,680 They are our best-sellers. 1079 00:57:12,760 --> 00:57:15,320 - The burger is fantastic. - Yes. 1080 00:57:15,440 --> 00:57:17,880 - It is delicious! It's yum. - The burger is really good. 1081 00:57:18,600 --> 00:57:20,760 The burger is made in an Indian style, 1082 00:57:20,840 --> 00:57:23,440 without a patty, just a slice of tomato 1083 00:57:23,520 --> 00:57:25,240 and a leaf. 1084 00:57:25,320 --> 00:57:29,280 You have included your own signature sauces. 1085 00:57:29,360 --> 00:57:30,520 The burger is full of spices. 1086 00:57:30,600 --> 00:57:32,160 - Yes. - That's Masala Burger. 1087 00:57:32,240 --> 00:57:35,200 We place fresh chaaps directly from the tandoor into the burger. 1088 00:57:35,280 --> 00:57:37,200 - Those are grilled. - It's nice. 1089 00:57:37,280 --> 00:57:38,520 - Yes. - Very tasty! 1090 00:57:38,880 --> 00:57:40,000 - Thank you so much, Kunal. - Thanks, Kunal. 1091 00:57:40,040 --> 00:57:41,840 I watched a video on Instagram. 1092 00:57:41,920 --> 00:57:43,760 The way Soya Chaap is made 1093 00:57:43,840 --> 00:57:45,080 was not pleasant to look at. 1094 00:57:45,200 --> 00:57:46,600 - Exactly! - And the way it is made. 1095 00:57:46,680 --> 00:57:48,880 - It is... - That is our differentiating factor, Peyush. 1096 00:57:49,200 --> 00:57:52,520 We can show you a video showing how we manufacture chaap. 1097 00:57:52,680 --> 00:57:55,760 We manufacture it in a very hygienic way. 1098 00:57:59,720 --> 00:58:01,160 They are our contract manufacturer. 1099 00:58:01,560 --> 00:58:04,720 The flour is made from soya bean seeds. 1100 00:58:05,920 --> 00:58:07,400 The other ingredients are also added. 1101 00:58:07,480 --> 00:58:09,920 All-purpose flour, wheat flour, protein, 1102 00:58:10,000 --> 00:58:11,920 and then they add salt and water as well. 1103 00:58:13,040 --> 00:58:14,840 A dough preparation is made. 1104 00:58:14,920 --> 00:58:17,280 You roll the dough on a stick and boil. 1105 00:58:17,400 --> 00:58:19,040 That is how chaap is made. 1106 00:58:19,960 --> 00:58:21,600 Chaap is a popular street food. 1107 00:58:21,680 --> 00:58:24,040 But if you get it tested in a lab, 1108 00:58:24,120 --> 00:58:26,400 it's not a chaap, it's 100% all-purpose flour. 1109 00:58:26,480 --> 00:58:28,520 - There is no soya in it. - Okay. 1110 00:58:28,640 --> 00:58:31,840 In fact, our soya chaap has 23% protein. 1111 00:58:31,960 --> 00:58:34,240 22 grams of protein in 100 grams of... 1112 00:58:34,320 --> 00:58:37,000 Every 100 grams of raw chaap. 1113 00:58:41,640 --> 00:58:44,960 - I would not want to comment on other brands as such. - Good! 1114 00:58:45,040 --> 00:58:47,040 But a lot of people 1115 00:58:47,160 --> 00:58:49,240 who are selling chaap on the streets of Delhi 1116 00:58:49,400 --> 00:58:50,560 use 100% all-purpose flour. 1117 00:58:50,800 --> 00:58:53,880 But this is not street-side. It's QSR. I've eaten a lot. 1118 00:58:54,080 --> 00:58:55,200 I am from Delhi. 1119 00:58:55,280 --> 00:58:56,960 - Which one? - Wah Ji Wah. 1120 00:58:57,080 --> 00:58:58,520 - Wah Ji Wah. - It is so tasty. 1121 00:58:58,640 --> 00:59:01,040 - Okay! - Chaap is famous in Delhi. 1122 00:59:01,120 --> 00:59:02,680 Tell us about your background. 1123 00:59:02,760 --> 00:59:05,240 - He is my brother-in-law, he lives in Lucknow. - Okay. 1124 00:59:05,360 --> 00:59:07,560 He moved to Hyderabad 17 years ago. 1125 00:59:07,640 --> 00:59:09,520 All of us live in Hyderabad now. 1126 00:59:09,800 --> 00:59:11,920 I completed my engineering from IIT Roorkee. 1127 00:59:12,000 --> 00:59:14,440 And then I worked with Deloitte and Runnr 1128 00:59:14,560 --> 00:59:16,320 - which got acquired by Zomato later. - Zomato. 1129 00:59:16,360 --> 00:59:18,680 After that, I went to ISB Hyderabad for an MBA. 1130 00:59:21,640 --> 00:59:22,680 - Bain? - Yes. 1131 00:59:22,800 --> 00:59:23,800 - For how long? - Nice. 1132 00:59:24,240 --> 00:59:25,280 I was there for 1.5 years. 1133 00:59:25,320 --> 00:59:28,160 You left a good-paying job and went after him. 1134 00:59:28,240 --> 00:59:30,000 I made him quit his job too. 1135 00:59:30,840 --> 00:59:32,000 It was you who made him quit. 1136 00:59:32,080 --> 00:59:34,880 He made me quit. He has caused me a lot of damage. 1137 00:59:34,960 --> 00:59:36,120 I will tell you one by one. 1138 00:59:36,200 --> 00:59:38,520 I got married later in life and I pursued my MBA at a later stage. 1139 00:59:38,520 --> 00:59:41,040 - Oh my! - I was supposed to go to ISB in 2019. 1140 00:59:41,160 --> 00:59:44,280 - Then? - He said we just started, so I should wait back. 1141 00:59:44,360 --> 00:59:45,720 - 'Take a one year gap.' - Okay. 1142 00:59:45,800 --> 00:59:47,920 Then Covid happened. I had to do my MBA during Covid. 1143 00:59:48,040 --> 00:59:49,280 Your brother-in-law is dangerous. 1144 00:59:49,320 --> 00:59:50,440 He is very dangerous. 1145 00:59:50,600 --> 00:59:52,520 Be safe from him. He is also a Shark. 1146 00:59:53,000 --> 00:59:54,520 Tarun, what is your background? 1147 00:59:54,720 --> 00:59:56,480 I was born and raised in Lucknow. 1148 00:59:56,560 --> 00:59:58,680 I graduated from Lucknow University. 1149 00:59:58,800 --> 01:00:01,720 After that, I did my MBA from XLRI, Jamshedpur. 1150 01:00:07,680 --> 01:00:10,400 ...especially in HR, because I did my MBA in HR. 1151 01:00:10,840 --> 01:00:13,320 I was working, so Randhir went to Punjab 1152 01:00:13,440 --> 01:00:15,600 and he actually did a lot of research in Punjab. 1153 01:00:15,680 --> 01:00:18,640 In fact, he dragged a couple of chefs from there to Hyderabad. 1154 01:00:18,720 --> 01:00:21,320 - Was no one selling this in Hyderabad? - Not back then. 1155 01:00:21,400 --> 01:00:23,800 We were equally astonished and you are. 1156 01:00:23,880 --> 01:00:27,400 Why isn't this amazing cuisine seen outside of Delhi NCR? 1157 01:00:27,680 --> 01:00:30,560 When we order a vegetarian dish in Delhi, 1158 01:00:30,640 --> 01:00:32,640 paneer is the first preference. 1159 01:00:32,800 --> 01:00:34,920 And then there's potato. 1160 01:00:35,000 --> 01:00:36,320 There are Dahi Kebabs too. 1161 01:00:36,440 --> 01:00:39,960 Soya is the last thing we think of. Where is the issue? 1162 01:00:40,760 --> 01:00:42,680 There are concerns related to hygiene. 1163 01:00:42,760 --> 01:00:44,520 As Peyush mentioned, he saw a video. 1164 01:00:44,600 --> 01:00:46,480 No! I haven't watched that video yet. 1165 01:00:46,560 --> 01:00:48,480 But ordering soya chaap 1166 01:00:48,640 --> 01:00:51,360 - is not on our priority list. What? - That could be a reason. 1167 01:00:52,600 --> 01:00:56,280 We are creating a category in our business. 1168 01:00:56,400 --> 01:00:57,880 - For soya chaap? - We are doing... 1169 01:00:57,960 --> 01:00:59,440 You can see an opportunity in it. 1170 01:00:59,520 --> 01:01:00,400 Yes, we do. 1171 01:01:00,480 --> 01:01:03,080 Belgian Waffle made waffle a brand. 1172 01:01:03,160 --> 01:01:05,560 Similarly... You are right. We want to create awareness 1173 01:01:05,680 --> 01:01:07,800 - of soya chaap. - First time, I had soya chaap... 1174 01:01:07,960 --> 01:01:09,560 I am a vegetarian. 1175 01:01:09,680 --> 01:01:11,400 It was when at the age of 27. 1176 01:01:11,480 --> 01:01:13,160 And for me, it was like 1177 01:01:13,240 --> 01:01:14,920 this is tasty. 1178 01:01:15,000 --> 01:01:18,080 Let me tell you, in vegetarian households... 1179 01:01:18,160 --> 01:01:19,480 My dad doesn't eat it. 1180 01:01:20,960 --> 01:01:22,120 My sister doesn't eat it. 1181 01:01:22,200 --> 01:01:25,600 They still feel this is a non-vegetarian dish. 1182 01:01:26,200 --> 01:01:27,560 Take mushrooms, for example. 1183 01:01:27,760 --> 01:01:30,760 - In many vegetarian households they don't eat mushrooms. - Interesting. 1184 01:01:30,880 --> 01:01:34,040 - I think it has its journey. And second... - Yes. 1185 01:01:34,120 --> 01:01:37,640 Soya chaap started as an add-on while drinking. 1186 01:01:38,360 --> 01:01:39,000 Correct! 1187 01:01:39,120 --> 01:01:40,480 The tandoori kebab, so yeah. 1188 01:01:40,560 --> 01:01:42,120 As the drinking culture grew, 1189 01:01:42,920 --> 01:01:44,720 so did the popularity of soya chaap. 1190 01:01:46,440 --> 01:01:50,240 There are many food products that don't travel well. 1191 01:01:50,720 --> 01:01:52,480 You have to eat it where it was prepared. 1192 01:01:52,680 --> 01:01:54,520 It is the same with Kebab. 1193 01:01:54,600 --> 01:01:57,160 By the time it is delivered, it becomes rubbery. 1194 01:01:57,440 --> 01:01:59,520 Is it the same with soya chaap? 1195 01:02:00,200 --> 01:02:01,960 As far as it comes to kebabs, you are right. 1196 01:02:02,040 --> 01:02:04,400 That's why our focus is not cloud kitchen. 1197 01:02:04,480 --> 01:02:07,200 Our focus usually... We are a QSR industry. 1198 01:02:07,320 --> 01:02:10,520 A lot of sales come from cloud kitchens. 1199 01:02:11,080 --> 01:02:15,240 - True. - So, as a QSR, you can't ignore it. 1200 01:02:16,720 --> 01:02:19,840 Overall, as a brand, 33% of revenue comes from online 1201 01:02:19,920 --> 01:02:22,000 and 66% is dine-in. 1202 01:02:23,080 --> 01:02:24,800 Good! Should we come to your business? 1203 01:02:24,960 --> 01:02:27,600 You mentioned 25 stores 1204 01:02:27,760 --> 01:02:30,400 in 4 cities. You have expanded. 1205 01:02:30,840 --> 01:02:32,160 So can you give us a sense 1206 01:02:32,240 --> 01:02:35,440 of your per year revenue and how many outlets you opened per year 1207 01:02:35,520 --> 01:02:36,680 and where you are today? 1208 01:02:36,800 --> 01:02:40,360 Our first operational store opened in April 2019. 1209 01:02:40,480 --> 01:02:42,320 In FY19-20, 1210 01:02:42,440 --> 01:02:45,120 our revenue was Rs. 1.09 crores. 1211 01:02:45,200 --> 01:02:47,160 Our EBITDA was Rs. 21 lakhs. 1212 01:03:13,120 --> 01:03:14,120 And last month? 1213 01:03:14,240 --> 01:03:16,440 Last month our revenue was Rs.94 lakhs. 1214 01:03:16,520 --> 01:03:20,560 How was it in the last 6 months from April to September? 1215 01:03:29,080 --> 01:03:32,280 Our stores grow by around 10% year-on-year. 1216 01:03:35,240 --> 01:03:37,640 In 2019, we had 3 active stores. 1217 01:03:38,160 --> 01:03:39,720 In 2020, there were 5. 1218 01:03:39,800 --> 01:03:42,640 There were 7 stores in 2021. 1219 01:03:42,960 --> 01:03:44,720 9 stores in 2022. 1220 01:03:45,000 --> 01:03:47,120 19 stores in 2023. 1221 01:03:47,680 --> 01:03:49,280 Now, we have 26 stores. 1222 01:03:49,360 --> 01:03:51,560 And there are three more stores under fit-outs. 1223 01:03:51,640 --> 01:03:53,640 Wow! Is this franchised or... 1224 01:03:53,760 --> 01:03:57,120 Out of 26, 6 are company-owned, company-operated. 1225 01:03:57,880 --> 01:04:01,040 - 3 are franchisee-owned, company-operated. - Good. 1226 01:04:01,440 --> 01:04:04,520 The rest, 17 are franchisee-owned, franchisee-operated. 1227 01:04:04,600 --> 01:04:06,760 But our focus is shifting. 1228 01:04:06,840 --> 01:04:08,440 We are gravitating towards 1229 01:04:08,520 --> 01:04:12,200 company-owned, company-operated or franchisee-owned, company-operated. 1230 01:04:13,160 --> 01:04:15,000 Why is it so? Why did this shift happen? 1231 01:04:15,600 --> 01:04:18,400 - There are a few reasons for this shift. - Quality. 1232 01:04:18,600 --> 01:04:21,880 Uh... Yes, quality is the number one reason. 1233 01:04:22,400 --> 01:04:25,000 We are a very SOP-driven company 1234 01:04:25,120 --> 01:04:27,840 and we were facing a lot of SOP violations. 1235 01:04:28,040 --> 01:04:30,280 The second thing is our staff was not being treated well. 1236 01:04:30,320 --> 01:04:31,480 In our current model, 1237 01:04:31,520 --> 01:04:33,640 - we provide the staff to all the franchisee stores. - Hmm. 1238 01:04:33,720 --> 01:04:36,840 They don't need to hire staff or train them. That is our job. 1239 01:04:37,200 --> 01:04:39,920 Third-party purchases were being made, which we weren't aware of. 1240 01:04:40,040 --> 01:04:41,920 That was also one reason. So we decided 1241 01:04:42,000 --> 01:04:43,880 that we won't have any more Franchisee On Franchisee Operated. 1242 01:04:43,920 --> 01:04:46,160 Even if we give a franchisee, we will operate the stores. 1243 01:04:47,000 --> 01:04:48,480 What is the store economics? 1244 01:04:48,560 --> 01:04:50,000 I'll tell you about the COCO Store. 1245 01:04:50,120 --> 01:04:51,440 We have four formats. 1246 01:04:59,640 --> 01:05:03,360 In our mall store, the food cost is 26%. 1247 01:05:03,520 --> 01:05:05,360 our packaging cost is 4%. 1248 01:05:05,440 --> 01:05:07,000 Gross margin is 70%. 1249 01:05:07,080 --> 01:05:09,720 And then our aggregator cost is 6%. 1250 01:05:09,840 --> 01:05:12,400 - Our rental cost is 30%. - It's high. 1251 01:05:12,480 --> 01:05:14,760 And then our salaries are 10%. 1252 01:05:15,000 --> 01:05:16,920 Lastly, utility costs are around 4%. 1253 01:05:17,000 --> 01:05:19,720 Our EBITDA comes to around 20% to 22%. 1254 01:05:57,800 --> 01:05:59,320 How much CapEx is needed for one store? 1255 01:06:23,520 --> 01:06:27,240 We have three company owned mall stores. 1256 01:06:27,320 --> 01:06:29,120 And we've got the payback from all the stores. 1257 01:06:34,720 --> 01:06:37,320 Out of these, three stores closed during the COVID period. 1258 01:06:37,760 --> 01:06:42,320 One store closed due to low footfall during 2022. 1259 01:06:42,800 --> 01:06:45,440 Two other stores were closed by us 1260 01:06:45,520 --> 01:06:47,920 because of the SOP violations. 1261 01:06:48,080 --> 01:06:49,560 Third-party purchases were going on. 1262 01:06:49,640 --> 01:06:52,040 We gave them legal notice and closed down the stores. 1263 01:06:52,120 --> 01:06:53,720 What is your variety? 1264 01:06:53,840 --> 01:06:57,440 - Is it only different types of 'chaap' preparations? - No. 1265 01:06:58,040 --> 01:07:00,400 Apart from 'chaap' we have other famous items 1266 01:07:00,520 --> 01:07:03,400 like 'Chole Bhature,' 'Chole Kulche.' We keep these dishes. 1267 01:07:03,480 --> 01:07:06,360 What is the share between 'chaap' related items and 'non-chaap' related items? 1268 01:07:06,360 --> 01:07:08,480 95% is chaap related items. 1269 01:07:11,240 --> 01:07:13,360 Don't you want to make a chaap-related business? 1270 01:07:14,120 --> 01:07:16,920 'Chaap' is a hero product and it will continue to remain so. 1271 01:07:17,000 --> 01:07:18,960 But if we can add some more items 1272 01:07:19,040 --> 01:07:21,560 to help our sales, then why not? 1273 01:07:21,680 --> 01:07:23,560 But that is a wrong way to get sales. 1274 01:07:25,600 --> 01:07:28,080 I think it pulls the crowd. 1275 01:07:29,360 --> 01:07:30,760 Tell us the pricing. 1276 01:07:30,840 --> 01:07:34,080 If you compare it to Delhi, our price is slightly premium. 1277 01:07:41,320 --> 01:07:42,520 Our cuisine is 1278 01:07:42,680 --> 01:07:45,400 hygienic and standardized. 1279 01:07:45,480 --> 01:07:47,640 You have not positioned that anywhere. 1280 01:07:47,960 --> 01:07:50,320 Because if you want to say 1281 01:07:50,400 --> 01:07:53,240 'Good chaap' or 'Better for you chaap,' 1282 01:07:53,360 --> 01:07:55,040 then you have to bring it somewhere. 1283 01:07:55,120 --> 01:07:56,680 Otherwise, you will be put in the same category. 1284 01:07:56,720 --> 01:07:58,280 That's right. We write that 1285 01:07:58,280 --> 01:08:01,160 'We are India's first premium Soya Chaap brand,' in our branding. 1286 01:08:01,360 --> 01:08:03,560 Not premium, 23% protein. 1287 01:08:03,640 --> 01:08:05,160 I mean, that's clear, right? 1288 01:08:05,240 --> 01:08:08,320 I think this is the kind of guidance and mentorship we require. 1289 01:08:09,240 --> 01:08:11,560 - Well played. - Do you have any investors now? 1290 01:08:11,640 --> 01:08:14,760 We are completely bootstrapped right now. We have picked up zero per cent. 1291 01:08:14,840 --> 01:08:17,720 But we are planning to raise around six crores in this round. 1292 01:08:17,800 --> 01:08:19,040 How much commitment have you got? 1293 01:08:19,080 --> 01:08:23,000 We have a commitment from friends and family to the tune of Rs 1-Rs 1.5 Crores. 1294 01:08:32,920 --> 01:08:34,880 Based on our run rate for this month 1295 01:08:34,960 --> 01:08:37,600 I think we will touch around 1.2 crores this month. 1296 01:08:37,680 --> 01:08:40,120 That translates to 14 crores ARR. 1297 01:08:42,000 --> 01:08:43,520 5x? Whoa. 1298 01:08:43,640 --> 01:08:45,720 - Too much. - Even for SaaS, which is software, 1299 01:08:45,800 --> 01:08:47,720 you get 5x with great difficulty. 1300 01:08:47,840 --> 01:08:49,640 But this is the industry standard. 1301 01:08:50,160 --> 01:08:51,800 How is 'Wah Ji Wah' doing? 1302 01:08:51,960 --> 01:08:54,280 I think they are exiting the business. That's what we heard. 1303 01:08:54,320 --> 01:08:55,480 How big is their business? 1304 01:08:56,320 --> 01:08:57,880 In terms of stores, they have around 50-60 stores. 1305 01:08:57,920 --> 01:08:59,880 - What is their revenue? - Around Rs 30 - Rs 40 crores. 1306 01:08:59,880 --> 01:09:02,240 They are not able to make it a 100 crores business. 1307 01:09:03,000 --> 01:09:05,040 Will you be able to make it into a 100 crores business? 1308 01:09:05,080 --> 01:09:07,920 - It's easy to build from zero to 50 stores. - Hmm. 1309 01:09:08,000 --> 01:09:09,240 We can do it. Anyone else can do it. 1310 01:09:09,280 --> 01:09:13,080 But to scale from 50 to 500, sustainably and profitably 1311 01:09:13,200 --> 01:09:14,360 is not everyone's cup of tea. 1312 01:09:14,400 --> 01:09:15,520 Why do you think you can do it? 1313 01:09:15,560 --> 01:09:18,480 We are also not so capable, that's why we are here for your mentorship. 1314 01:09:18,600 --> 01:09:20,120 So you won't be able to do it, if we don't come on board? 1315 01:09:20,160 --> 01:09:22,120 Maybe we will do it, but we'll take a longer time. 1316 01:09:23,400 --> 01:09:25,720 What's your rating on Zomato and Swiggy? 1317 01:09:25,840 --> 01:09:28,960 We have a total of 30,000 plus reviews on Zomato and Swiggy. 1318 01:09:29,080 --> 01:09:30,280 - Both put together. - Yes. 1319 01:09:30,360 --> 01:09:33,040 And on Swiggy, our rating is 4.2. 1320 01:09:33,120 --> 01:09:34,760 On Zomato it's 4.0. 1321 01:09:34,840 --> 01:09:36,200 Four is less, right? 1322 01:09:37,240 --> 01:09:38,000 What's the issue? 1323 01:09:38,120 --> 01:09:41,120 - In the first couple of years our rating was 4.7. - Okay. 1324 01:09:41,200 --> 01:09:43,920 As we scaled, maybe our operations got a little loose 1325 01:09:44,040 --> 01:09:46,400 because both of us were not full time into the business. 1326 01:09:46,480 --> 01:09:47,720 Our quality dropped a little. 1327 01:09:47,800 --> 01:09:49,520 We have started getting better now. 1328 01:09:49,600 --> 01:09:52,880 Initially the ratings of our first two to three stores was 4.6 and 4.7. 1329 01:09:53,040 --> 01:09:55,520 We became a household brand in Hyderabad. 1330 01:09:55,800 --> 01:09:58,120 Second is, as we mentioned 1331 01:10:05,920 --> 01:10:06,840 Thank you. 1332 01:10:06,920 --> 01:10:08,960 You are making your business very positively. 1333 01:10:09,200 --> 01:10:12,240 - I agree. - Not only in spirit but also in financials. 1334 01:10:13,160 --> 01:10:15,120 My fundamental concern is 1335 01:10:15,200 --> 01:10:17,480 because it is a single ingredient category 1336 01:10:17,560 --> 01:10:21,680 it's not clear if the consumer will look at it as an indulgence, 1337 01:10:22,080 --> 01:10:25,240 or as a meal destination. 1338 01:10:25,800 --> 01:10:29,680 I think this is an occasional snack destination. 1339 01:10:30,160 --> 01:10:31,600 People will eat it once in a while. 1340 01:10:38,920 --> 01:10:41,840 ...it will be very hard to build a huge business. 1341 01:10:43,600 --> 01:10:44,920 But today, I'm out. 1342 01:10:49,880 --> 01:10:51,680 Thank you for the food also. It was delicious. 1343 01:10:51,760 --> 01:10:53,600 Will I eat it again? I don't know. 1344 01:10:54,120 --> 01:10:56,200 I don't have much faith in Soya. 1345 01:10:57,040 --> 01:10:58,800 And 70 crores valuation is too much. 1346 01:10:58,920 --> 01:11:00,440 Unfortunately, I'm out. 1347 01:11:01,240 --> 01:11:02,640 Have fun. Enjoy. 1348 01:11:02,880 --> 01:11:03,880 Thank you. 1349 01:11:03,920 --> 01:11:07,280 - Okay, Randhir and Tarun. - Yes. 1350 01:11:16,080 --> 01:11:17,080 No. 1351 01:11:18,840 --> 01:11:23,240 Okay? You ran a young QSR company 1352 01:11:23,520 --> 01:11:26,000 profitably, during Covid. 1353 01:11:33,560 --> 01:11:35,280 ...and told us everything honestly 1354 01:11:35,560 --> 01:11:38,160 about what problems you had in your FOFO model. 1355 01:11:38,240 --> 01:11:40,760 What pivot you are making. 1356 01:11:41,160 --> 01:11:45,080 I think both of you have the traits 1357 01:11:45,200 --> 01:11:48,000 of an entrepreneur, to make it in the long term. 1358 01:11:49,040 --> 01:11:50,880 I will give you an offer. 1359 01:11:50,960 --> 01:11:51,960 [grunting] 1360 01:11:53,560 --> 01:11:57,800 The offer is half of your valuation. 1361 01:11:59,560 --> 01:12:02,160 So 2% for 70 lakhs. 1362 01:12:02,480 --> 01:12:04,040 - That's very aggressive. - But also... 1363 01:12:04,120 --> 01:12:07,280 Yes, very aggressive valuation. Because it comes with a royalty. 1364 01:12:08,360 --> 01:12:11,720 A royalty of 2% annual on your net revenue. 1365 01:12:12,320 --> 01:12:14,720 This royalty will be given 1366 01:12:14,880 --> 01:12:18,200 until I get 1.5x of my investment. No royalty after that. 1367 01:12:24,520 --> 01:12:26,760 I think shutting down franchisee 1368 01:12:29,640 --> 01:12:33,160 The team combination is very good. Strategy and HR. 1369 01:12:33,360 --> 01:12:35,760 Because today business is all about people. 1370 01:12:36,720 --> 01:12:39,440 I think the cons are, food is always tricky. 1371 01:12:40,120 --> 01:12:42,440 I have not done any QSR investment until now. 1372 01:12:42,560 --> 01:12:46,520 I always feel that it's better to stay away from this. 1373 01:12:48,960 --> 01:12:50,640 I don't agree with this valuation. 1374 01:12:50,720 --> 01:12:54,840 I also don't do royalty. I'm doing 70 lakhs for 5%. That's my offer to you. 1375 01:13:03,160 --> 01:13:04,400 I look forward to the meetings. 1376 01:13:04,440 --> 01:13:06,160 - Board meetings should not be boring. - Yes, it will be fun. 1377 01:13:06,160 --> 01:13:09,400 - It shouldn't be boring. - We should look forward to the meeting with investors. 1378 01:13:09,560 --> 01:13:11,440 And trust and transparency. 1379 01:13:11,800 --> 01:13:16,600 Your character shows and it's solid. 1380 01:13:16,920 --> 01:13:18,640 I'm half Sardar. 1381 01:13:19,360 --> 01:13:22,040 - I'm married to a Sardarni. - Correct. 1382 01:13:22,640 --> 01:13:24,680 I'll make you an offer. 1383 01:13:25,720 --> 01:13:27,280 But I'm a little conflicted. 1384 01:13:28,040 --> 01:13:29,520 Will you take more money? 1385 01:13:31,920 --> 01:13:33,240 We'd love to hear your offer. 1386 01:13:33,320 --> 01:13:35,440 What are your sales, you said? 10 Crores? 1387 01:13:35,560 --> 01:13:38,360 This year we will close at around 11 - 12 crores. 1388 01:13:38,440 --> 01:13:40,240 I'll give you 2x. 1389 01:13:42,200 --> 01:13:44,520 Assuming you will close at 11 - 12 crores. 1390 01:13:45,400 --> 01:13:49,520 Which is 24 crores valuation. 1391 01:13:49,680 --> 01:13:52,000 1.4 crores for 6%. 1392 01:13:52,320 --> 01:13:55,520 But because you are in a high-risk zone, as you said it, 1393 01:13:55,760 --> 01:13:58,600 the actual QSR is made 1394 01:13:58,720 --> 01:14:00,560 when you go from 50 to 100. 1395 01:14:01,360 --> 01:14:04,520 So to secure my money, I'll take a 1% royalty. 1396 01:14:17,120 --> 01:14:19,320 [pensive music playing] 1397 01:14:21,920 --> 01:14:24,360 [tense music playing] 1398 01:14:30,040 --> 01:14:32,280 - We have a counter. - Yes, go for it. 1399 01:14:34,520 --> 01:14:36,840 We would like all three of you to come together. 1400 01:14:37,360 --> 01:14:40,520 For 70 lakh rupees for 3% equity. 1401 01:14:42,400 --> 01:14:43,760 1% for each. 1402 01:14:43,840 --> 01:14:45,400 So all of you have a piece of the pie. 1403 01:14:46,800 --> 01:14:49,680 My counter to you is... I've not yet cleared it with them. 1404 01:14:49,800 --> 01:14:50,960 If they agree, 1405 01:14:51,600 --> 01:14:53,040 we'll put in 1.4 crores. 1406 01:14:53,240 --> 01:14:55,880 No fight on the valuation that you are asking. 1407 01:14:55,960 --> 01:14:58,480 You are fair and I want to respect that. 1408 01:14:59,560 --> 01:15:02,520 We'll take 6% but on one condition. 1409 01:15:02,720 --> 01:15:04,800 1% royalty, which is not much. 1410 01:15:15,640 --> 01:15:19,320 Peyush, Anupam and Vineeta, the deal is final. 1411 01:15:28,840 --> 01:15:31,200 - All right. - Congratulations. 1412 01:15:31,240 --> 01:15:32,480 Thank you so much. 1413 01:15:32,840 --> 01:15:34,360 - Hello. - Hi. 1414 01:15:34,440 --> 01:15:35,480 Thank you, thank you. 1415 01:15:37,120 --> 01:15:39,240 'We are very focused even today.' 1416 01:15:39,320 --> 01:15:41,400 'We think this has a lot of potential.' 1417 01:15:41,520 --> 01:15:43,520 'And the offer given by the three sharks,' 1418 01:15:43,600 --> 01:15:46,040 has validated 1419 01:15:46,120 --> 01:15:48,480 our thoughts. So, we are very happy. 1420 01:15:48,600 --> 01:15:51,520 Okay, Aman isn't on board, but he gave very good feedback. 1421 01:16:02,280 --> 01:16:03,080 Thank you so much, guys. 1422 01:16:03,200 --> 01:16:04,320 Thank you, guys. 1423 01:16:11,600 --> 01:16:12,960 Hello, Randhir and Tarun. 1424 01:16:15,760 --> 01:16:17,680 - Whose idea was it to come on the Bullet? - Thank you. 1425 01:16:17,680 --> 01:16:19,680 It was our idea. We had discussed a lot about it. 1426 01:16:19,760 --> 01:16:21,800 We thought it was our mascot. 1427 01:16:21,880 --> 01:16:24,520 Our entry has to be special. We are Punjabis after all. 1428 01:16:24,640 --> 01:16:25,480 That's right. 1429 01:16:25,560 --> 01:16:29,080 Do you know your vibe is so good, I wanted to have a full meal with you. 1430 01:16:29,160 --> 01:16:31,600 I thought of ordering something while your pitch was going on. 1431 01:16:31,640 --> 01:16:33,760 You already have the 'chaap.' 1432 01:16:33,920 --> 01:16:36,360 I've ordered juice and cold drinks from Swiggy Instamart. 1433 01:16:36,440 --> 01:16:38,400 And it's arrived in 10 minutes. 1434 01:16:39,080 --> 01:16:41,000 - Oh, wow. - That's great. - Thank you so much. 1435 01:16:41,120 --> 01:16:43,000 If you need anything else, tell me. Or else, we can get started. 1436 01:16:43,040 --> 01:16:44,440 Let's order some chips and dips. 1437 01:16:44,520 --> 01:16:46,160 - It will add a crunch. That's best. - Yes, it will add the crunch. 1438 01:16:46,160 --> 01:16:49,240 I'm ordering from Swiggy Instamart. Friends you also order something. 1439 01:16:49,360 --> 01:16:51,200 You should eat while watching. How can you watch just like that? 1440 01:16:51,240 --> 01:16:53,800 It'll come in 10 minutes. Everything is available. Order now. 1441 01:16:53,960 --> 01:16:56,800 'Shark Tank India, co-presented by ACKO Insurance,' 1442 01:16:56,880 --> 01:16:59,000 'PokerBaazi and Swiggy Instamart.' 1443 01:16:59,120 --> 01:17:01,720 'Co-powered by Adani, and Jaquar Bath and Light.' 1444 01:17:01,880 --> 01:17:04,880 'And partners, Rayzon Solar, ICICI Direct,' 1445 01:17:04,960 --> 01:17:06,600 'Lenskart and Sofy.' 1446 01:17:10,640 --> 01:17:12,160 Which school is this, that's producing 1447 01:17:12,240 --> 01:17:15,520 - such brilliant investors and businessmen and women? - Oh God. 1448 01:17:15,600 --> 01:17:18,400 This is the best school in the world. 1449 01:17:18,480 --> 01:17:20,200 This is Delhi Public School, RK Puram. 1450 01:17:20,280 --> 01:17:21,560 - Were you there? - Oh my God, me too. 1451 01:17:21,560 --> 01:17:24,120 - Were you there? - Yes, I was in RK Puram. - Oh, God. 1452 01:17:24,400 --> 01:17:25,520 - Really? - Yes. 1453 01:17:25,640 --> 01:17:26,400 Which year were you? 1454 01:17:26,480 --> 01:17:29,560 - Don't say it. She's still a baby. - Yes, I'm a baby. It was 2013. 1455 01:17:29,840 --> 01:17:32,080 - Oh, my God. - I mean, not that... 1456 01:17:32,280 --> 01:17:33,960 - Please, 12 years. - Give or take two to four years. 1457 01:17:33,960 --> 01:17:34,600 - Two. - Twelve. 1458 01:17:34,680 --> 01:17:35,720 Did you have to say it? 1459 01:17:37,960 --> 01:17:39,880 No. We knew each other. 1460 01:17:39,960 --> 01:17:42,000 - Actually... - I think this is Vineeta's problem 1461 01:17:42,160 --> 01:17:45,040 that people think they are her friends, but she never thinks like that. 1462 01:17:45,160 --> 01:17:46,200 Oh, really? 1463 01:17:46,280 --> 01:17:48,360 - Was she the popular, sassy kind of girl? - No. 1464 01:17:48,440 --> 01:17:49,840 You know, 'that girl?' 1465 01:17:49,920 --> 01:17:53,000 No, I was not. I was very nerdy and so was he. 1466 01:17:53,120 --> 01:17:56,240 - Okay. - At that time we would study a lot. 1467 01:17:56,320 --> 01:17:58,880 Because if we didn't get into an Engineering college, 1468 01:17:58,920 --> 01:18:00,600 it would be a problem. 1469 01:18:00,640 --> 01:18:02,320 Was she sporty, because we know that you're athletic? 1470 01:18:02,360 --> 01:18:04,400 I used to play badminton for the school team. 1471 01:18:04,480 --> 01:18:06,800 But she was very, very smart. 1472 01:18:06,880 --> 01:18:08,360 But more importantly, very nice. 1473 01:18:08,440 --> 01:18:10,200 - Very nice? How sweet. - Even then. 1474 01:18:10,320 --> 01:18:12,040 Did you both meet after school? 1475 01:18:12,240 --> 01:18:13,840 No, actually, 1476 01:18:13,920 --> 01:18:17,240 the funny thing is I left Delhi long back. I live in Mumbai. 1477 01:18:17,360 --> 01:18:19,080 I started reading about him in the news. 1478 01:18:19,160 --> 01:18:23,320 - Because there were so many stories about Snapdeal and Unicorn. - Hmm. 1479 01:18:23,640 --> 01:18:25,240 We met for the first time 1480 01:18:25,360 --> 01:18:27,880 at an investor event around five years back. 1481 01:18:28,080 --> 01:18:29,360 - And that... - Oh, that recently? 1482 01:18:29,400 --> 01:18:32,000 Yes. He was speaking on the stage 1483 01:18:32,120 --> 01:18:33,720 and he's like, 'Oh, Hi Vineeta.' 1484 01:18:33,800 --> 01:18:36,040 I was like, 'Thank God, he remembers.' 1485 01:18:36,120 --> 01:18:38,520 Did you really remember or were you just saying it? 1486 01:18:38,600 --> 01:18:39,760 - Of course, I remembered. - You remembered. 1487 01:18:39,800 --> 01:18:42,680 No, I think... I feel that 1488 01:18:42,920 --> 01:18:44,640 we actually never forget our... 1489 01:18:44,720 --> 01:18:47,120 - those who we have grown up with. - That's true. 1490 01:18:47,200 --> 01:18:48,520 It's very hard to forget. 1491 01:18:48,600 --> 01:18:52,000 - I think we have better memories as children than as adults. - Hmm. 1492 01:18:52,160 --> 01:18:54,760 And we were in the same class for four years. 1493 01:18:54,840 --> 01:18:56,440 - We don't forget so easily. - That's a lot. 1494 01:18:56,440 --> 01:18:59,240 - Then I think we met after five years on the set. - Incredible. 1495 01:18:59,320 --> 01:19:02,640 - For Shark Tank. - Directly. - But I'm meeting Kunal Bahl by two. 1496 01:19:02,880 --> 01:19:07,320 Because in the last 20 years half Kunal Bahl stayed back in school. 1497 01:19:07,400 --> 01:19:09,480 Oh, really? Were you like a cute, chubby kid? 1498 01:19:09,560 --> 01:19:11,400 He was a super-cute chubby kid. 1499 01:19:11,520 --> 01:19:14,200 - No, I think I was not cute. - He was like... 1500 01:19:14,960 --> 01:19:15,960 I was chubby for sure. 1501 01:19:16,000 --> 01:19:18,520 In school he was like this sweet boy. 1502 01:19:18,640 --> 01:19:20,440 A very hard-working and studious boy. 1503 01:19:20,560 --> 01:19:23,640 And like normal. Now, he has become a gravitas person. 1504 01:19:23,720 --> 01:19:25,520 I mind my own business. 1505 01:19:25,600 --> 01:19:29,400 When I heard this story that he goes to a coffee shop 1506 01:19:29,480 --> 01:19:31,960 with his wife in the morning and drinks a cup of coffee 1507 01:19:32,040 --> 01:19:33,960 and then doesn't drink coffee the whole day, 1508 01:19:34,040 --> 01:19:35,440 he doesn't eat junk food either... 1509 01:19:35,520 --> 01:19:37,400 - So disciplined! - And like no bad habits. 1510 01:19:37,560 --> 01:19:41,960 I am like, 'Who talks in morning conversations at the coffee shop?' 1511 01:19:42,040 --> 01:19:44,680 - Because you're like really... He is this... - Yeah! 1512 01:19:44,800 --> 01:19:48,880 - very serious person. - But it's not like that. 1513 01:19:48,960 --> 01:19:51,720 I mean, I can be fun. 1514 01:19:52,960 --> 01:19:54,080 Look at the smirk on his face. 1515 01:19:54,120 --> 01:19:55,440 'I can be fun.' 1516 01:19:55,920 --> 01:19:59,000 When Aman and I are having fun in the Shark Tank, 1517 01:19:59,080 --> 01:20:01,360 he is the first one to say, 'Okay, let's move on!' 1518 01:20:01,440 --> 01:20:04,360 Do you guys feel that you were batch-mates in school 1519 01:20:04,440 --> 01:20:05,600 and now you're sitting in the 1520 01:20:05,680 --> 01:20:08,240 - Shark Tank sets? The feeling is surreal. - To think about it... 1521 01:20:08,320 --> 01:20:10,880 I feel God has a plan for everyone. 1522 01:20:11,120 --> 01:20:13,120 What are the chances of ending up 1523 01:20:13,240 --> 01:20:16,440 in the Shark Tank sets from the DPS canteen? 1524 01:20:16,560 --> 01:20:18,200 - I know. - What were the chances? 1525 01:20:18,280 --> 01:20:21,360 I think an incredible thing happened to both of us. 1526 01:20:21,680 --> 01:20:24,800 It's been madness in India in the last 15 years 1527 01:20:24,880 --> 01:20:26,600 with the startup ecosystem. I think, 1528 01:20:26,920 --> 01:20:28,400 somehow, in different ways, 1529 01:20:28,480 --> 01:20:31,440 we both got into this ecosystem pretty early. 1530 01:20:31,520 --> 01:20:35,080 - Yeah. - So I think... My struggle started in 2007. 1531 01:20:35,160 --> 01:20:37,040 - When did you start? 2000... - 2007. 1532 01:20:37,120 --> 01:20:38,680 2007, right? So, 1533 01:20:38,760 --> 01:20:44,760 I think, if smart and hard-working people grind for 15-20 years 1534 01:20:44,880 --> 01:20:48,800 in a place where the economy is growing, 1535 01:20:48,880 --> 01:20:51,120 something or the other happens. 1536 01:20:51,200 --> 01:20:52,520 - Incredible things happen. - Yeah. 1537 01:20:52,520 --> 01:20:55,640 So I think we've been lucky because we've been here for 15 years 1538 01:20:55,720 --> 01:20:57,840 but we have seen so many cycles 1539 01:20:57,960 --> 01:21:01,240 of market going up and down. Our companies going up and down. 1540 01:21:01,440 --> 01:21:04,440 And I think the only good thing that happened 1541 01:21:04,520 --> 01:21:08,600 is that DPS taught us to be ambitious and work hard. 1542 01:21:45,920 --> 01:21:47,400 We'll meet again on Ask The Shark 1543 01:21:47,480 --> 01:21:49,000 with the new Shark and new questions.