[music playing]
[theme music playing]
'We're super excited to meet the Sharks.'
'Two of my batchmates are in the Tank.'
'That's a surprise.'
'What's interesting is'
that we applied to Shark Tank last year too.
We made it to the regional rounds but couldn't clear all India.
There were a few shortcomings.
'We've taken care of them now.'
'So, we're confident as well as excited to meet them.'
[theme music concludes]
Come on, Sharks.
Let me feed you a healthy breakfast.
30% sugar!
Oh!
31% refined flour.
8 to 10 teaspoons of palm oil.
A pinch of preservatives.
And artificial colours.
There!
Your healthy breakfast is ready.
What's the matter? Shocked?
We were just as shocked when we saw
how unhealthy the big breakfast brands in India were!
As they lack protein,
instead of energising us, they slow us down.
So, we came up with Naturik!
India's tastiest and healthiest desi breakfast brand.
At Naturik, we serve the tastiest Cheela,
Masala Khichdi and Sprouts.
And I can proudly say
that we consume this as well as feed it to our kids.
Naturik products don't contain any sugar, refined flour,
of wholesome and tasty food.
So, Sharks, healthy and tasty food will be ready in just three minutes!
Indians are getting health conscious
thereby increasing opportunities for us.
And to tap into this opportunity,
we are growing our online and offline presence
To make us
India's biggest desi breakfast brand,
our ask is Rs. 50 lakhs at 2% equity.
Okay!
[music playing]
- Where are you going? - Wow.
- There's something special for you. - Oh, my!
You don't seem like someone who can cook.
You're trying to make it idiot-proof.
- Yes. - Please come.
[laughs]
Show some respect. [laughs]
This is our batter.
We'll grease it with a little oil.
- Um... - Wow, we're eating sprouts.
- Like this? Do I have to do this? - Are these sprouts yours?
- Huh? - The sprouts are ours too.
Our mission isn't
- just to provide healthy and tasty food... - Yes, perfect.
But also to solve the problem of a lack of time in India.
So, all our solutions have been devised
keeping convenience in mind.
These sprouts were made in five minutes.
We'll take a heap of this. A generous amount.
What do I do now?
Spread it gently.
[chuckles]
Aman really doesn't cook.
Ma'am, please don't stand so close to him.
- He's a champ at setting things ablaze. - No, sir. I'll be fine.
Simply pour the batter.
- It'll cook on its own. No need to spread it. - Yes.
- Don't do anything. - Yes, that'll do it.
- What they are saying is don't do anything. - Yes!
- Nothing at all! - [laughter]
The sprouts taste nice.
Yum!
Hand us your products until he cooks.
I'll show them to you.
- Please flip it. - All right.
Aman can happily cook.
Wow, nice.
Not bad.
Very good.
- I think it's ready. - Done? Ready?
- Yes. - It's ready! That is crazy.
- I... - Please try some.
- The pricing is reasonable. - Rs. 200.
It's fine for a cheela mix.
- Will it make one or more? - No, obviously not.
I swear this is the first time I've cooked something
other than instant noodles!
I swear.
I'm fond of cheela.
It depends on the consistency of the cheela you make.
Our claim is 12,
but one can easily make 15-16 cheelas.
The ingredients are really healthy.
- Yes. - Absolutely.
Are cheelas that are made at home equally healthy?
The cheela made at home is prepared using besan
which is high in carbs.
To give it protein and high fibres, we've made it using dals.
We've added some secret ingredients.
We've added asafoetida, cumin seeds and fennel seeds
so it won't cause bloating or flatulence.
You won't feel heavy after eating this.
Cheela contains 20% per 100 grams of protein.
- So... - Hang on. Let me grab your box.
This says, "100 grams contains 20 grams of protein."
- Yes. - Right?
And this makes 12 cheelas.
- 250 grams. - This pack is 250 grams.
- 250 grams. - Yes.
This packet contains about 50 grams of protein.
So, 20 grams.
- And this will make... - 20.
- 12 cheelas. - 11 to 12 cheelas.
- Suppose you eat idli or dosa... - Yes.
- Or parathas made of healthy flour, not refined flour... - Yes.
That'd also give you 4 to 5 grams of protein.
It wouldn't.
Dosas... Whether it is iD Fresh or homemade,
it contains 1.5 grams of protein.
What about dal cheelas?
Dal cheelas will give 16 to 18 grams of protein
but you'll have to put in 10 to 12 hours of work.
And all the products in the market that claim they contain protein,
including muesli,
only contain 11 to 12 grams of protein on average.
Got it.
I have here Ragi Cheela and Oats Cheela.
Don't you think they contain a lot of sodium?
- Is that the reason for its longer preservation? - No.
We've added more spices to lend it that savoury flavour.
But it's less than a gram.
It's about 700 mg.
As a force of habit, we don't pick up these boxes.
And they add preservatives to it.
Is the main reason behind adding them costing or expiry?
Both together. Two sides of the same coin.
Normally, their shelf life is a maximum of 3 to 6 months.
Yours is a year without preservatives.
What you've got in your hand is an innovative product.
It isn't available in the market.
How do you do it?
We use two technologies.
The various dals or flours you get in the market
contain 16 to 18% moisture
which gives them a shelf life of 3 months.
We reduce the moisture content to under 2% using dehydration.
- After opening, yes. - Once you open it, the shelf life reduces.
- After that, a month. - It's a month.
Wow!
Before starting Naturik, I was working in ITC
- as a National Sales Manager... - Into packaged foods?
I oversaw all India FMCG sales
for the larger portfolio of Aashirvaad Atta, Sunfeast,
Bingo, Yippee! Noodles and B Natural juices.
And in personal care products, Fiama Di Wills, Vivel...
The entire portfolio.
I worked in Britannia before that as National Trade Marketing Manager
where I made go-to-market strategies for Britannia NutriChoice brand
and took it from Rs. 50 crores to Rs. 300 crores.
Before that, for over four years, I worked with Walmart
when it had just entered India
Where did you study?
Born and brought up in Bathinda. I topped my school and class.
I wanted to take up commerce and business studies
but mom said, "No way."
"People with poor marks opt for it."
So, I decided to study engineering
but I had a deal that I'd try for IIT only.
If I got in, good. If not, I'd do what I wanted.
And I'd not do it in Bathinda, I'd go to Delhi.
- So, I did grade 11 and 12 from DPS RK Puram. - Oh, wow!
Um...
So...
Our batch!
- I know. - I'm from 2011.
[laughter]
Which section?
My section was 12I.
We were in J, right?
Don't you know each other?
A thousand students graduate every year.
No, so what? They knew each other back then.
- We were in the same class. - Okay.
You must've known me.
- I know. - [chuckles]
- Wow! - Whoa!
Carry on.
I graduated in Commerce.
I prepared for MBA. CAT and FMS. Got through FMS.
What's your story, Isha?
I had a 12-year corporate career in Human Resources in Gurugram.
After that, I ran
- a food QSR business in Gurugram for 4 years. - What was it called?
I bought a franchisee of Tibb's Frankie
I innovated tasty recipes.
- They bought out the recipes for my lemonade and shakes. - Amazing.
Wow!
[clapping]
- And then? - After that,
Sahil shared his idea with me.
The passionate food entrepreneur in me said,
"Let's do this together."
How did the idea of entering this segment occur to you?
Honestly, we scanned the entire food space.
Snacking was extremely cluttered.
Breakfast stood out as a huge potential market.
- It's a Rs. 30,000-crore market. - Wow.
The focus is currently on Western snacks and cuisines.
Who's the biggest breakfast brand in India?
Batter has a market of Rs. 8,000 crores,
- both dry and wet. - Oh!
- Where brands like MTR, iD Fresh and others operate. - iD.
Rs. 5,500 to 6,000 crores is the market share of cereals
- where Kellogg's, Bagrry's and a few start-ups operate. - Okay.
Rs. 11,000 to 12,000 crores is the market share of RTEs
which include poha, upma and Haldiram's RTEs.
Oats has a small market of Rs. 1,100 to 1,200 crores.
- Your SKUs mostly comprise cheelas, right? - Correct.
You didn't mention the share of cheelas
in that Rs. 30,000 crore market.
- It falls under the Rs 8,000-crore dry and wet batter market. - Okay.
Who currently sells cheela mix?
- There are start-ups... - Small start-ups.
- For example, Tata Sampann has their Chilla Mix. - Okay.
But that's not their focus category.
- That's okay. And Slurrp Farm? - Slurrp Farm.
- It's for kids. - Slurrp Farm sells pancakes, not cheelas.
But pancake is also a form of cheela in the dessert format.
There are more companies?
- There's another start-up called Gladful. - Gladful.
...which is a big category of Rs. 11,000?
I've had a firm belief in my many years of experience.
Sticking to a small category and making an identity
and winning the confidence of the customer
is far more important than taking...
- Absolutely right. - A big competitor head-on.
- Absolutely. - MTR, Haldiram's, ITC...
It'll take them two days to kill Naturik
if they want to.
Very good.
- I want to discuss numbers. - Sure.
- If you're ready for numbers. - Absolutely.
We started sales on 20 March 2023.
What was the bottom line?
It was negative. -12%.
That's a loss of Rs. 10 lakhs.
This year, we've raised funds and even started offline sales.
When and who was it?
At the beginning of the year.
Around January or February from 100X.VC.
It was a pre-seed round of Rs. 1.25 crores.
At what valuation?
- The CCPS is... - 7%.
But broadly, it is around at...
It was at Rs. 8.33 crores valuation.
In the second quarter, we did sales of Rs. 1.26 crores.
We closed October at Rs. 49.4 lakhs.
Our AOP for this year is Rs. 5.82 crores,
Exit March, we'll be EBITDA positive.
- Let me give you the unit economics. - Please.
- Our raw material cost comes to 23%. - Okay.
The packing material cost comes to 4.5%.
The inward shipping cost is 3.25%.
That makes our gross margin 69.3%.
After that come the discounts, margins and commissions
- we offer blended to marketplaces and offline is 27%. - Got it.
And outward shipping that includes couriers,
supply, transport and others is 12%.
We're maintaining a weighted average for our marketing spend at 25%.
Okay, wow.
After this, our CM2 is 5.5%.
Then come your fixed costs.
Our salaries are about 8.7 to 8.8%.
Then we have travel costs of 1.4%
- because the sales team travels a lot. - Team travel.
Our fixed expenses are 0.7% such as rent and electricity.
- Post that, we arrive at a negative EBITDA of about -6%. - Not bad.
You have it in control.
It is controlled because our focus is
that online is important.
The business will come from offline and other channels.
Our sales split is equally divided.
51% comes from offline.
49% comes from online.
That means your online part of the business hasn't scaled much.
- In comparison to last year's run rate of Q4... - Right.
Your online is almost flat now.
That's a conscious call.
- in the last 9 months. - It absolutely has.
- Why haven't you gone 10x yet? - It's very important to us.
- We're yet to be on-boarded on quick commerce. - Okay.
- We're at it but the entry is slow. - Okay.
You're not on any of the three now.
That's right.
You were saying something earlier about a conscious call.
Correct, we made a conscious call.
Let me tell you about two kinds of brands.
- On the one hand, we have Slurrp Farm. - Yoga Bar and all.
Yoga Bar which ITC purchased
and Soulfull which Tata purchased.
On the other hand, there are brands like iD Fresh,
Lahori Zeera, Veeba sauces and Country Delight.
- Both have fantastic products... - Hmm.
Outstanding capabilities and a really deep funding.
All of them are at Rs. 100 crores now,
and they went from Rs. 500 crores to Rs. 5,000 crores.
The difference is the execution.
They kept focusing on online and burnt money.
They went hybrid really quickly
and expanded their offline very fast.
So, because the market is still split like before,
78% is still from offline.
And online is important no doubt. We're doing it too,
but we don't want to go overboard,
burn whatever little money we have and then just sit on our hands and...
Do you see an impact of online sales on offline
- and hence, are you investing in it? - Correct.
How are you attributing it?
We don't run ads just on Amazon.
I make my own reels and post them on Instagram
creating awareness about why this is healthy and all.
We boost it through performance marketing.
When we go to a retail store,
the retailer sometimes says, "I've seen this somewhere."
- Or a consumer says that. - It makes a difference.
"I had ordered this once. It's available at this store now."
That rub-off effect is really helping us sell out.
When did you start offline?
Just this year.
We began preparations in August
- and launched offline in September. - Offline is very recent.
What's the repeat rate?
The small packs have a repeat rate of almost 52%.
- It's too soon to track offline. - No.
This is how we track offline.
Suppose, we gave the retailer goods worth Rs. 2,000.
When the salesman visited him after 15 days,
how many pieces did he reorder?
What are you doing special that it is 69%?
Let's look at brands like Britannia, ITC and others.
Their gross margins are, as you said, around 45 to 48%
as they cater to the mass market
and are adding preservatives.
If you look at the premium market,
for instance, look at their premium offering.
Their margins are over 60%.
Like Dark Fantasy's margin is 61 to 62%.
Do you play in that segment?
We're tapping into the mass premium segment
and not the base mass segment as that is not our target group.
Our TG is the working population, young mothers,
Gen Zs staying away from home with a little spending power...
- Correct... - Outside of your business...
Your collective experiences are a superpower,
but the superpower of this business is its GM in particular.
- You have a 70% GM in the food business. - Yes.
- Marvellous. - You have a structural advantage.
Absolutely.
- It could increase. It will grow. - We are trying
to grow it by 3 to 3.5%
by working on the packaging cost and inward...
You're the king of your industry.
You know how to run this business.
- We know you understand your industry. - Yes.
- [laughs] Thanks... - Okay?
All right, let me tell you my decision.
- I think this space is hot and consumers want it. - Yes.
- This business is slated to grow. - Yes.
In your entrepreneurial journey, I can help you with brand building,
- marketing and marketplace management. - Yes.
I offer you Rs. 1 crore for 5% equity.
I'm being loud and clear.
Accept my offer without listening to their offers.
- Thank you so much, Aman, for the offer. - Thank you.
- You doubled the investment. - Hmm.
- He has caught Kunal's disease. - It's okay.
I like inspiring people.
- Aw. - I don't mind getting inspired.
Sahil and Isha,
your logo, branding and packaging require a lot of work.
- Absolutely. - Given the fact
that you're both so experienced, I'm very surprised.
The font in all the sections is different.
[ominous music playing]
I think "The Naturik Co."
- is a very bad name. - I don't get it either.
I couldn't open a single pack.
I tried very hard. The user experience of the packaging
- is very bad too. - I wish to add one thing.
- No, I'm giving my feedback. Please listen. - Sure.
This part of it in the whole story...
Is an area of improvement.
Is a surprisingly large area of improvement.
It's actually 0 out of 10 if you ask.
Looks like an intern made it.
[ominous music playing]
The rest, of course,
your story and clarity
of the way you want to build business, very impressive.
So, love the market and the team.
I'd like to match the valuation Aman gave.
- Okay. - Rs. 50 lakhs at 2.5% equity
which was your original ask. That's my offer.
We're already in talks with a few investors.
We're planning to raise Rs. 4 crores in this round.
This is part of that round.
- We've got a term sheet of Rs. 50 lakhs... - Ouch! That's...
One from the angel network and one from micro VCs
- for Rs. 25 lakhs each. - At what valuation?
The same valuation which we've quoted.
So, I think Rs. 1 crore for 5% equity is a good offer.
That's my offer. Rs. 1 crore for 5%.
- Sahil, you're a DPSite. - Yes.
That won you half the battle.
- Sahil, your opportunity cost is very high. - Yes.
- People like you become the CEOs of big companies... - Absolutely.
- After spending about 30 years with them... - Correct.
You forwent that to do this.
It's a big decision.
- Correct. - A very big one.
However, your progress is very impressive.
- You said you were doing a round for Rs. 4 crores. - Yes.
I'm ready to fund the entire round.
[joyous music playing]
- Thank you so much. - Thank you.
I'm going to join you in taking funding from him!
I can give you two offers.
- Rs. 2 crores for 10% equity... - Yes.
[pensive music playing]
Okay, I'll match that.
Match what?
Exactly your offer.
Sahil, you seem like a very genuine guy.
- Thank you so much. - All right?
- Many questions were asked. - She too.
Thank you.
You accepted it when it came to the packaging.
- You were very calm, which comes from experience. - Yes.
- You mentioned you post videos on social media yourself. - Correct.
That kind of stuck with me.
- You're willing to go to the ground. - Absolutely.
I'll give you an offer too.
Okay.
I'll give you Rs. 50 lakhs for 2.5% equity.
Okay.
Can I make a request?
Everybody quoted the same valuation.
all five Sharks put together,
or even complete the round, all five Sharks put together.
- I have a counter for you. - Sure.
If everybody agrees. Five Sharks will own 12...
No, I don't want to make a counter before talking.
- Wait... - No. I said if you agree.
- A caveat... - Yes, say it once.
Hang on.
- No, but if he takes all five... - Wait.
- Not done. - If they agree.
You still have the option to disagree.
[tense music playing]
- Why don't you discuss this and we will also do the same? - Yes.
- Okay? All of us will get time. - Okay.
- So, go and mull over it. - Thank you.
- Don't forget who was the first to give the offer, Isha! - Absolutely.
- Remember who gave the first offer. - Absolutely.
- I made cheela with you. - Definitely.
Don't forget who showed the most conviction.
Don't you forget!
- Go on, Sahil. Please. - We'll be back.
Give us a few minutes.
[tense music playing]
The valuation is decreasing at 12.5% equity.
I think 20% is a little too high at the very start.
He's going to make a deal outside anyway.
- Food businesses are struggling. - No, don't take 25%.
It is not... If we don't, someone else will!
He will negotiate also.
Sahil and Isha, you only have one offer now.
All five Sharks will give you the Rs. 4 crores for 25% equity.
- Rs. 16 crores. - Make it 16.
...but don't look at just that.
Your entire funding will be done.
Can we close it at Rs. 18-crore valuation?
- It has been a year since we did the 8.33. - 17 crores.
- How... - Let's... One second.
Not yours, not ours.
- Anupam, I... - Done?
- 18 is fine. - Calculate the percentage.
- So... - Not much of a difference.
It's 22.5. He's asking for 25. Rs. 18 crores is not bad.
- It's 4.4%. - Or you should've agreed for 20.
[tense music playing]
- I think we can do it. - All right.
- DPSite! - [chuckles]
- 2001. - Thank you.
Congratulations...
'For a minute,'
- we were a little awestruck. - Awestruck.
'We got eight times more than what we had asked.'
'So... But God is kind.'
He has his own ways of giving things.
[upbeat music playing]
Welcome to ACKO Change Makers where we really welcome change,
whose lovely portrayal we saw on our Change Makers wall.
And today's Change Makers are Sahil and Isha.
- You were amazing in there. - Thank you.
In India, the quantity of protein in our food
- has always been a big issue... - Correct.
Since we don't meet it from our diet.
Your product does not contain preservatives or refined flour.
You've brought about a big change, we really appreciate that.
On behalf of our audience at home, I wish to ask you a question.
What changes could they bring about in their daily lives
in order to get better nutrition?
First, consume Naturik's products.
- High protein... - Before that,
- Yes, our website... - There's a step in between.
It's important to be aware of this.
The problem is we don't know we're protein deficient.
To help people understand, we have a protein calculator on our website.
- Very nice. - Feed in your age and weight.
- Gender, male or female. - It varies for men and women.
It will calculate your daily protein requirement for you.
We really appreciate the change that you're bringing
just as ACKO brought a change in the insurance space
with its revolutionary offerings.
No more spam calls while buying car insurance!
Avoid the confusion in price and policy coverage
by buying ACKO car insurance.
It's easy, transparent and hassle-free
at just the right premiums.
We wish to appreciate the change you're bringing about
by giving you a gift on behalf of Shark Tank and ACKO.
Thank you.
[camera shutter clicking]
[theme music playing]
What's up?
[theme music concludes]
Sharks, do you remember your childhood days
when you'd come home at 4 pm from school every day,
throw your bags in a corner,
pick up your bats and head to play cricket in the alleys?
What memorable days! What do we do?
We lead such busy lives,
cities have changed, friends have separated
and we've almost stopped playing cricket.
- Right, Aman? - No, I still play.
- You do! That's amazing. - [Aman laughs]
Fantastic.
This time... Uh...
Through this, um...
Friends can...
He gave the wrong answer and ruined your pitch.
Yes! You were right.
[laughs]
You're right. I stopped.
[all laugh]
You stop playing cricket with friends, right?
Yes, you're right.
And it has become almost impossible now.
What? Impossible!
To turn the impossible around,
we present to you MetaShot.
Greetings, Sharks. My name is Ranjit.
I am Prince.
And I am Ajith.
- We're from Bengaluru. - Ooh!
MetaShot is a Mixed Reality Smart Bat.
...and play cricket using our app.
all from the comfort of your home pitch.
We've sold 18,000 Bats from September 2023 until now.
In future,
we want to use this technology to bring the experience of sports
like pickleball and baseball to every home.
Today, our ask is Rs. 80 lakhs for 1.5% equity.
Wow!
- Ajith, Prince and Ranjit, right? - Yes.
What's the matter? Why have Bollywood's villains gathered here?
[laughter]
- Welcome. - Thank you.
- You've sold 18,000 Bats. - Yes.
That's a big number.
- Yes, thank you. - When you came,
I didn't think you'd have sold that many Bats.
- Are you school or college friends? - Why?
[laughter]
- It felt a bit gimmicky. Let me... - Come on, sir.
So, what is it? Are you college or school friends?
Ajith and I studied together
and Ranjit and I worked at BankBazaar together.
After that, we started a company that made gully cricket bats.
During that phase, we thought of taking cricket to every home.
So, we began our research.
After two years of R&D,
we were able to come out with something
that was a cost-effective technology.
We have an app you can download
and play on your mobile phone, tablet or PC.
you could do a match-up in real time.
So, if a four is hit here, they'll be able to see it too.
This is the power on button.
The moment you press this button, green lights will turn on.
It means that the Bat is connected to the app
and you're ready to play cricket.
Okay, brother. Who will bowl?
The game does it.
You play in apartments.
A full-length bat...
- You could get hurt. - Will hit objects.
- Kids can play too. - That's the idea.
The main thing here is the right stance.
If your stance is off, your shots tend to go off.
After taking the stance,
tap the button, and the ball will come your way.
Oh, I missed it. It is a four.
- Oh my! - It's a six!
Backshot!
Yes, backshot.
- I request Aman and Vineeta to join. - Yes.
Two of you first.
We are switching it to party mode,
where multiple people can play with one bat.
For example,
there will be a match-off between Aman and Vineeta.
Don't defeat me.
Aman, you start.
'The bowler's line and length are perfect.'
'The batsman didn't get a chance.'
This looks difficult. I thought it will be easy.
Is it showing where the ball will bounce?
Yes. That is where the ball will enter.
'Out!'
Oh no!
Whatever!
This looks tough.
- You try it. - You can't do it.
- Press that button. Correct! - Yes.
It's not Gillidanda, it's cricket.
Good! That's a six.
It was a fluke.
'The ball is wondering if you will'
- 'kill it.' - 6 runs, guys!
'Another sixer!'
It is okay for amateurs.
Professional players can't play.
- 'This was bound to happen.' - That's a four.
'Another four!'
- Okay! - Oh! Who's the winner?
She is!
Hey!
- Guys, one question. - Yes.
Have you heard of Nintendo?
- Yeah! - Wii, right?
The technology is very different.
What we are using is a different technology.
You tell us about your and Wii's technology...
Now that AR is taking over,
what role does this play in AR and VR?
What we made is with sensors.
Our bats have sensors.
- you are keeping your phone somewhere. - Yeah.
Right? Where are you keeping it?
- The tablet is here. - It's a tablet.
The data is passing through Bluetooth from your phone.
- Through Bluetooth? - Yes.
- Okay! - So, that's the primary interface between the device...
- Device and the app. - And the bat.
TV is just a mirroring device.
- It has nothing else to do with it. - Correct.
You are using Bluetooth.
Will you get instantaneous feedback?
Because if there's
even a 5 to 10 millisecond delay, it's a game-changer.
You just mentioned the lag in our game.
If you start playing for one to two hours,
then you get into a zone.
After a certain point, you can almost play any shot,
piercing between the fielders.
We've also observed this when four players join...
We also witnessed that here.
You build an emotion around the game.
- That takes the game forward. - You are 100% confident
that there is no issue with the technology.
- No! - Right? Okay!
Is this a first-generation product,
Do you have to buy a subscription?
- No! - The app is free.
...that we recently launched.
Once you buy that, all the grounds become accessible.
- by selling the VIP Pass. - Wow!
Are people playing like we just did,
or are they playing across the net with their friends?
So, there is a good combination.
Currently, 35% are playing with friends.
65% is single mode.
As the user base grows,
more people will start playing with friends. What we're also seeing
- is that gifting has become a significant use case. - Yeah.
20% of total sales is through gifting.
...by people who are playing with their friends over the net?
- 6,000. - More than 6,000.
So, 6,000 people are playing this game with each other every day.
- No, not every day. - Not daily.
- You multiplied the number of bats you sold. - Correct.
He is saying
- that there is a daily average of users as an app metric. - Yes.
- That is 800. - Correct. 800.
What is your WAU and MAU?
WAU is 2,300.
DAU, WAU and MAU, sound confusing.
But they are quite simple.
DAU means Daily Active Users.
WAU stands for Weekly Active Users.
And MAU is Monthly Active Users.
For a product, it's important to track
how many active users are using the service
or product on a daily, weekly, and monthly basis.
When you divide DAU by MAU,
you get a stickiness ratio. It shows
how loyal the product's users are
and how much the retention will be in the future.
How much do people play? Let's say someone bought a bat.
How many times do they play in a month
and for how many minutes?
Currently, our game session length
is around 35 minutes. That's the average.
Out of that, those who play beyond 60 minutes
is around 40%.
- Wow! - Eighth month. I'll give you another corresponding fact.
What happens is
the metric of MAU to Total Unit Sold,
it is a commonly used metric for consoles
and hardware gaming devices.
So, MAU to total units sold for PS5 is 35%.
- Yours is 33%. - Yes.
- Yeah! - Exactly!
What is the rating of your app?
We remember that at our friend's driveway,
we used to move the cars and play there.
Those who want to play
they will play anywhere if he has a cricket ball and bat.
You are right!
This is an ideal situation from the audience's perspective.
This is what everyone should do.
But the one who returns home after work
and doesn't have time.
Let's say 32-45 year-old who also ends up working on a weekend.
And his friend circle changes.
His friend circle has changed.
So, they don't have an option to form a team again...
Here, the player has to bat. They can't bowl.
So, where is the team part?
In this, what we are doing
is creating the concept of a team. Where...
- Let's say you are the captain and you added four friends. - Always!
That is a small team and you named it Shark Tank.
That team can compete simultaneously with another team.
Selling 18,000 units of your product
is not an easy task.
How, where and why did you sell?
Also, share your revenue.
The first video we made that went viral.
There is a husband who keeps doing this.
- Yes! - The wife feels bad for him.
Do it and show us.
One of you become a husband and one of you become a wife.
Show us now.
I always do this
- because I don't have a friend. - The wife is looking at him.
I do that too.
- I do this. - He is playing air cricket all day long.
The wife is observing him. She realises
that he wants to play,
but he is tired after returning and doesn't have the time.
And Ajith is looking at both of you from a distance.
Oh, wow!
She gives me a gift.
What I do
is that I start playing with that.
I feel like I can play like before.
Then the wife hits him...
She asks her mother-in-law to join
- and all of them play as a family. - Family.
That video garnered close to 60 million views.
- Wow! - 60 million?
- 60 million views on YouTube Shorts.- On YouTube?
- uploaded a video and it received 100 million views. - Correct.
You can't go beyond that at the beginning.
It happened again.
- It went up to 70 million views. - Wow!
Okay! How much did you sell?
Our first lot was 500 units.
When the video went viral in September,
we sold all our products in ten days.
That quarter we almost did Rs. 1.76 crores.
And then, in January,
is when we were planning to be in
the marketplace, either Flipkart or Amazon.
That quarter we did a business of Rs. 1.13 crores.
We went live on Flipkart in April.
And this quarter we will be
doing Rs. 2.4-Rs. 2.5 crores.
more people will start making this.
It has three sensors,
accelerometer, gyroscope and magnetometer.
What these three do is,
one captures position data,
...the 3D motion is captured and integrated into our game.
And this is proprietary.
In fact, we've applied for a patent.
- Technology... - And you are the CEO.
And he gives moral support.
- No! - What do you do?
He doesn't speak.
I am the CFO of the company.
I manage accounts, CS and Customer Service.
Tell us your equity split.
31%, 21% and 20%.
Tell us the unit economics.
Our COGS is around 57%.
- Then direct expenses will be around 3%. - Right!
- Shipping is around 5%. - Correct.
We have our customer acquisition cost, which is 17%.
- Very good. - Branding and other expenses will be around 8%.
Net will be around 10%.
Salaries are our fixed expenses.
It is around Rs. 25 lakhs.
Our burn is Rs. 17 lakhs every month.
- There is a burn. - Yes.
You must have raised funding if there is a burn.
In June 2023, we raised half a million.
- Whoa! - Nice!
- Rs. 4 crores. - Rs. 4.2 crores, bro.
From Ventana Ventures, which is a gaming fund.
- Okay! - And from IPV.
And a few other angels.
- And that was... - What was the valuation?
Back then, post-money was Rs. 40 crores.
Well done. After that?
We haven't raised after that.
- Now, we... - Were you waiting for Shark Tank?
No, we have signed a term sheet.
Term sheet of Rs. 53 crores?
Yeah! That is the valuation we asked for.
Who signed this term sheet?
Sauce VC and Sharrp.
Sauce is investing in this?
And how much?
- Okay! - It's huge.
Why do you think this is a huge market?
Let's take India for example.
In India, it is in around 330 million homes.
Let's figure out the addressable market who can buy.
...where they have 60-70 million paid subscriptions at their peak.
That is how you triangulated it
and you estimated 50-60 million.
In your estimation,
how much penetration can you do
and how many devices can you sell per year?
for gaming as revenue
will be moving around 5%-6% of the overall revenue.
But gaming revenue is pure bottom line.
Okay, got it. Thank you.
I think it is a huge market.
The product is different.
Also, I like the entrepreneurs.
- You are positive and smiling entrepreneurs. - Thank you.
I wanted to give you a valuation of around Rs. 20 crores.
But you already got a valuation of Rs 55 crores.
So, you will not go with my valuation
So, I will have to be out, unfortunately.
I am out.
Thank you, sir!
I am into cycling. So, I use a software called Wahoo KICKR.
When I am cycling, I feel like
I am cycling with people
and visiting different cities in the world.
It is quite expensive. A global brand.
But I think that works.
I think you can make this more than a video game.
Because at the end of the day, it requires some movement.
- And movement is important. - Yes.
- Because of a sedentary lifestyle. - Absolutely.
So, if you position this not just as a video game,
but also as a form of exercise,
I believe it has great potential.
Also, the fact that it's made in India,
I think it's fantastic.
Thank you! Thank you very much.
So, I want to offer Rs. 50 lakhs for 2%.
The rest, Rs. 30 lakhs will be debt
at 10% interest cost.
I'm conflicted. This is unusual for me,
as I usually make decisions quickly.
I feel an emotional connection with this idea
because both my son and daughter
are engrossed in cricket nowadays.
So, I understand why this is selling.
But I feel this business is still not out of the danger zone.
But your valuation
will help you out of this danger zone.
That is why I am hesitant,
I don't want to give you a valuation which I know you will not accept.
If I were in your place, as a founder, I wouldn't have accepted it.
Someone is investing Rs. 8 crore at a valuation of Rs. 53 crore.
Why will I accept Rs. 20-Rs. 25 crores valuation?
- Excuse me! - But...
[laughing]
But Vineeta is a good founder and investor, you can accept her offer.
Okay! But...
- Don't take it from anyone else. - What is your final decision?
I am out today.
I want to tell you
that out of all the pitches I came across in Shark Tank,
this might have been the most difficult decision for me.
Thank you!
I like a few things.
When I saw this for the first time, I completely dismissed it.
I've seen many apps
that leverage a phone's capabilities
and hand gestures,
but none have been successful.
But no one was successful.
And the reason I think their approach was wrong.
The technology didn't mature.
I think that maturity is finally starting to emerge.
I can see all of you are really mature.
You were very patient
and thinking long term. That is what I think.
So, I'll make you two offers.
Okay?
One offer is
since your valuation is too high
and there won't be enough skin in the game.
If you want equity,
I'm willing to invest Rs. 1.5 crores, but I need 5%.
But I'll take a 1% royalty on your sales
until I get my money back.
How many engineers do you have?
Game side, we have five people.
- And? - Four people in hardware.
Okay! I'll make you an offer.
But it is not for what you are doing today.
I didn't like this form factor a lot.
I'll be very honest.
I also think that you have a strong vision.
You have a good team.
With that in mind, I will give you a simple offer.
Okay? No royalty or debt.
Rs. 80 lakhs for 2.5%.
Thank you! Give us a minute.
- He said 5%, we can offer 4%. - Yes.
We will see.
- It will be done. - Yes.
- We will request. - Should we do one combo...
We can do 1.4.
Welcome, Team Villain. Tell us what will you do.
And who will you hit with this bat?
We have an offer.
Oh, you have an offer!
A counteroffer.
Rs. 1.6 crores for 4%
Let's discuss it once.
So, I am out.
Thank you.
They already did that.
- That's why I am out. - Okay!
I understood that this is your factor.
Okay!
- They are back! - Guys, we have a counteroffer for you.
Rs. 1.6 crores for 5%.
You will do it. You guys are cool as cucumbers.
[mumbling]
I just reached your company name.
- Gillidanda Tech. - I love the company name.
- Thank you! - Gillidanda Tech.
Come on, decide!
So, Anupam and Vineeta, deal accepted!
[cheering]
[camera shutter clicks]
Welcome, Ranjit, Ajith and Prince, to the PokerBaazi Zone,
where you hold the cards.
- Is his name Ajith? - Yeah!
But he has the personality of Ranjit.
Right?
When you've cracked something
and things have started to work out for you guys.
And the third one is where you are.
You are earning double the money than you expected.
That is the maturity phase.
I want you to share a story of this journey,
which is from one of these phases. Any memorable story?
- Last year, in September... - Hmm!
We had uploaded our first video.
That video became viral
and because of that, our sales rocketed.
He was taking calls when he was in the hospital.
Okay!
- Our products were sold out that month. - Very nice.
If you want to test your skills and strategy, visit the PokerBaazi app
and make your winning hand and put your strategies to the test.
Download the app now!
I know all of you well.
You want to sit at home and give real-time feedback.
This is how this shot should be played in cricket.
He should have swung the bat like this.
The Sharks should invest in this and not that.
If you have the courage, then do it in real-time.
Hurry up and visit the Lenskart app or Lenskart.com.
[engine whirring]
[theme music playing]
Hey!
Whoa!
Let's dance!
- Oh my! - Oh no!
Brother-in-law, you are a Sardar, how can you eat a vegetarian dish?
- What's wrong? Did you fight with my sister? - Oh my!
Are you in a bad mood?
Let it be and stop this nonsense.
[laughing]
Then he will say that Vegetable Biryani is not Biryani.
- Obviously! - Right!
What else do vegetarians eat other than paneer?
Ask Aman, that is the truth.
Please stop it and let me eat.
[laughing]
It looks delicious, let me taste it.
Please let me taste it.
Here, try it.
Don't do it. My mouth is watering.
We are hungry.
Hey! What is this?
- Did you love it? - Of course, I did.
Because this is the ultimate weapon for vegetarians.
- Huh? - Gabru Di Chaap.
Gabru Di Chaap is India's first premium soya chaap QSR chain
From kebabs to biryani
...is a hit in the Delhi NCR region.
But its awareness is less in other parts of India.
At Gabru Di Chaap, we aim to not only expand the market
Gabru Di Chaap was started in 2019 in a humble 80 sq ft store.
Now, we are in four cities with 25 outlets,
- winning the hearts of thousands of customers every day. - Wow!
Our vision is to establish Gabru Di Chaap
as a globally recognised and reliable brand in the next 5 years.
Hello, Sharks! My name is Tarun.
Oh my!
Our ask is
Rs. 69,99,950 for 1% equity.
Why do you deduct Rs. 50?
That was for his overacting.
[laughing]
- Good one! - Sharks, our genuine ask is
Rs. 70 lakhs for 1% equity.
Amazing!
Hello, Sir. Hi!
- Hello. - Welcome to Shark Tank India Season 4.
Shall we try the food?
Good question, good point, bring the food.
Okay, sure.
We will show everyone and eat.
[laughing]
- Hi, Aman. This is for you. - All of it?
Pure vegetarian!
- 100% vegetarian. - Thank you
- for the shikanji. - Oh my, they have shikanji.
- I thought... - There is cola in it.
Anupam, a vegan dish especially for you.
Can't wait to try.
Anupam, a special vegan soya chaap for you.
Thank you, brother.
Please try them.
There are four flavours of Chaap on your plate.
They are our best-sellers.
- The burger is fantastic. - Yes.
- It is delicious! It's yum. - The burger is really good.
The burger is made in an Indian style,
without a patty, just a slice of tomato
and a leaf.
You have included your own signature sauces.
The burger is full of spices.
- Yes. - That's Masala Burger.
We place fresh chaaps directly from the tandoor into the burger.
- Those are grilled. - It's nice.
- Yes. - Very tasty!
- Thank you so much, Kunal. - Thanks, Kunal.
I watched a video on Instagram.
The way Soya Chaap is made
was not pleasant to look at.
- Exactly! - And the way it is made.
- It is... - That is our differentiating factor, Peyush.
We can show you a video showing how we manufacture chaap.
We manufacture it in a very hygienic way.
They are our contract manufacturer.
The flour is made from soya bean seeds.
The other ingredients are also added.
All-purpose flour, wheat flour, protein,
and then they add salt and water as well.
A dough preparation is made.
You roll the dough on a stick and boil.
That is how chaap is made.
Chaap is a popular street food.
But if you get it tested in a lab,
it's not a chaap, it's 100% all-purpose flour.
- There is no soya in it. - Okay.
In fact, our soya chaap has 23% protein.
22 grams of protein in 100 grams of...
Every 100 grams of raw chaap.
- I would not want to comment on other brands as such. - Good!
But a lot of people
who are selling chaap on the streets of Delhi
use 100% all-purpose flour.
But this is not street-side. It's QSR. I've eaten a lot.
I am from Delhi.
- Which one? - Wah Ji Wah.
- It is so tasty.
- Okay! - Chaap is famous in Delhi.
Tell us about your background.
- He is my brother-in-law, he lives in Lucknow. - Okay.
He moved to Hyderabad 17 years ago.
All of us live in Hyderabad now.
I completed my engineering from IIT Roorkee.
And then I worked with Deloitte and Runnr
- which got acquired by Zomato later. - Zomato.
After that, I went to ISB Hyderabad for an MBA.
- Bain? - Yes.
- For how long? - Nice.
I was there for 1.5 years.
You left a good-paying job and went after him.
I made him quit his job too.
It was you who made him quit.
He made me quit. He has caused me a lot of damage.
I will tell you one by one.
I got married later in life and I pursued my MBA at a later stage.
- Oh my! - I was supposed to go to ISB in 2019.
- Then? - He said we just started, so I should wait back.
- 'Take a one year gap.' - Okay.
Then Covid happened. I had to do my MBA during Covid.
Your brother-in-law is dangerous.
He is very dangerous.
Be safe from him. He is also a Shark.
Tarun, what is your background?
I was born and raised in Lucknow.
I graduated from Lucknow University.
After that, I did my MBA from XLRI, Jamshedpur.
...especially in HR, because I did my MBA in HR.
I was working, so Randhir went to Punjab
and he actually did a lot of research in Punjab.
In fact, he dragged a couple of chefs from there to Hyderabad.
- Was no one selling this in Hyderabad? - Not back then.
We were equally astonished and you are.
Why isn't this amazing cuisine seen outside of Delhi NCR?
When we order a vegetarian dish in Delhi,
paneer is the first preference.
And then there's potato.
There are Dahi Kebabs too.
Soya is the last thing we think of. Where is the issue?
There are concerns related to hygiene.
As Peyush mentioned, he saw a video.
No! I haven't watched that video yet.
But ordering soya chaap
- is not on our priority list. What? - That could be a reason.
We are creating a category in our business.
- For soya chaap? - We are doing...
You can see an opportunity in it.
Yes, we do.
Belgian Waffle made waffle a brand.
Similarly... You are right. We want to create awareness
- of soya chaap. - First time, I had soya chaap...
I am a vegetarian.
It was when at the age of 27.
And for me, it was like
this is tasty.
Let me tell you, in vegetarian households...
My dad doesn't eat it.
My sister doesn't eat it.
They still feel this is a non-vegetarian dish.
Take mushrooms, for example.
- In many vegetarian households they don't eat mushrooms. - Interesting.
- I think it has its journey. And second... - Yes.
Soya chaap started as an add-on while drinking.
Correct!
The tandoori kebab, so yeah.
As the drinking culture grew,
so did the popularity of soya chaap.
There are many food products that don't travel well.
You have to eat it where it was prepared.
It is the same with Kebab.
By the time it is delivered, it becomes rubbery.
Is it the same with soya chaap?
As far as it comes to kebabs, you are right.
That's why our focus is not cloud kitchen.
Our focus usually... We are a QSR industry.
A lot of sales come from cloud kitchens.
- True. - So, as a QSR, you can't ignore it.
Overall, as a brand, 33% of revenue comes from online
and 66% is dine-in.
Good! Should we come to your business?
You mentioned 25 stores
in 4 cities. You have expanded.
So can you give us a sense
of your per year revenue and how many outlets you opened per year
and where you are today?
Our first operational store opened in April 2019.
In FY19-20,
our revenue was Rs. 1.09 crores.
Our EBITDA was Rs. 21 lakhs.
And last month?
Last month our revenue was Rs.94 lakhs.
How was it in the last 6 months from April to September?
Our stores grow by around 10% year-on-year.
In 2019, we had 3 active stores.
In 2020, there were 5.
There were 7 stores in 2021.
9 stores in 2022.
19 stores in 2023.
Now, we have 26 stores.
And there are three more stores under fit-outs.
Wow! Is this franchised or...
Out of 26, 6 are company-owned, company-operated.
- 3 are franchisee-owned, company-operated. - Good.
The rest, 17 are franchisee-owned, franchisee-operated.
But our focus is shifting.
We are gravitating towards
company-owned, company-operated or franchisee-owned, company-operated.
Why is it so? Why did this shift happen?
- There are a few reasons for this shift. - Quality.
Uh... Yes, quality is the number one reason.
We are a very SOP-driven company
and we were facing a lot of SOP violations.
The second thing is our staff was not being treated well.
In our current model,
- we provide the staff to all the franchisee stores. - Hmm.
They don't need to hire staff or train them. That is our job.
Third-party purchases were being made, which we weren't aware of.
That was also one reason. So we decided
that we won't have any more Franchisee On Franchisee Operated.
Even if we give a franchisee, we will operate the stores.
What is the store economics?
I'll tell you about the COCO Store.
We have four formats.
In our mall store, the food cost is 26%.
our packaging cost is 4%.
Gross margin is 70%.
And then our aggregator cost is 6%.
- Our rental cost is 30%. - It's high.
And then our salaries are 10%.
Lastly, utility costs are around 4%.
Our EBITDA comes to around 20% to 22%.
How much CapEx is needed for one store?
We have three company owned mall stores.
And we've got the payback from all the stores.
Out of these, three stores closed during the COVID period.
One store closed due to low footfall during 2022.
Two other stores were closed by us
because of the SOP violations.
Third-party purchases were going on.
We gave them legal notice and closed down the stores.
What is your variety?
- Is it only different types of 'chaap' preparations? - No.
Apart from 'chaap' we have other famous items
like 'Chole Bhature,' 'Chole Kulche.' We keep these dishes.
What is the share between 'chaap' related items and 'non-chaap' related items?
95% is chaap related items.
Don't you want to make a chaap-related business?
'Chaap' is a hero product and it will continue to remain so.
But if we can add some more items
to help our sales, then why not?
But that is a wrong way to get sales.
I think it pulls the crowd.
Tell us the pricing.
If you compare it to Delhi, our price is slightly premium.
Our cuisine is
hygienic and standardized.
You have not positioned that anywhere.
Because if you want to say
'Good chaap' or 'Better for you chaap,'
then you have to bring it somewhere.
Otherwise, you will be put in the same category.
That's right. We write that
'We are India's first premium Soya Chaap brand,' in our branding.
Not premium, 23% protein.
I mean, that's clear, right?
I think this is the kind of guidance and mentorship we require.
- Well played. - Do you have any investors now?
We are completely bootstrapped right now. We have picked up zero per cent.
But we are planning to raise around six crores in this round.
How much commitment have you got?
We have a commitment from friends and family to the tune of Rs 1-Rs 1.5 Crores.
Based on our run rate for this month
I think we will touch around 1.2 crores this month.
That translates to 14 crores ARR.
5x? Whoa.
- Too much. - Even for SaaS, which is software,
you get 5x with great difficulty.
But this is the industry standard.
How is 'Wah Ji Wah' doing?
I think they are exiting the business. That's what we heard.
How big is their business?
In terms of stores, they have around 50-60 stores.
- What is their revenue? - Around Rs 30 - Rs 40 crores.
They are not able to make it a 100 crores business.
Will you be able to make it into a 100 crores business?
- It's easy to build from zero to 50 stores. - Hmm.
We can do it. Anyone else can do it.
But to scale from 50 to 500, sustainably and profitably
is not everyone's cup of tea.
Why do you think you can do it?
We are also not so capable, that's why we are here for your mentorship.
So you won't be able to do it, if we don't come on board?
Maybe we will do it, but we'll take a longer time.
What's your rating on Zomato and Swiggy?
We have a total of 30,000 plus reviews on Zomato and Swiggy.
- Both put together. - Yes.
And on Swiggy, our rating is 4.2.
On Zomato it's 4.0.
Four is less, right?
What's the issue?
- In the first couple of years our rating was 4.7. - Okay.
As we scaled, maybe our operations got a little loose
because both of us were not full time into the business.
Our quality dropped a little.
We have started getting better now.
Initially the ratings of our first two to three stores was 4.6 and 4.7.
We became a household brand in Hyderabad.
Second is, as we mentioned
Thank you.
You are making your business very positively.
- I agree. - Not only in spirit but also in financials.
My fundamental concern is
because it is a single ingredient category
it's not clear if the consumer will look at it as an indulgence,
or as a meal destination.
I think this is an occasional snack destination.
People will eat it once in a while.
...it will be very hard to build a huge business.
But today, I'm out.
Thank you for the food also. It was delicious.
Will I eat it again? I don't know.
I don't have much faith in Soya.
And 70 crores valuation is too much.
Unfortunately, I'm out.
Have fun. Enjoy.
Thank you.
- Okay, Randhir and Tarun. - Yes.
No.
Okay? You ran a young QSR company
profitably, during Covid.
...and told us everything honestly
about what problems you had in your FOFO model.
What pivot you are making.
I think both of you have the traits
of an entrepreneur, to make it in the long term.
I will give you an offer.
[grunting]
The offer is half of your valuation.
So 2% for 70 lakhs.
- That's very aggressive. - But also...
Yes, very aggressive valuation. Because it comes with a royalty.
A royalty of 2% annual on your net revenue.
This royalty will be given
until I get 1.5x of my investment. No royalty after that.
I think shutting down franchisee
The team combination is very good. Strategy and HR.
Because today business is all about people.
I think the cons are, food is always tricky.
I have not done any QSR investment until now.
I always feel that it's better to stay away from this.
I don't agree with this valuation.
I also don't do royalty. I'm doing 70 lakhs for 5%. That's my offer to you.
I look forward to the meetings.
- Board meetings should not be boring. - Yes, it will be fun.
- It shouldn't be boring. - We should look forward to the meeting with investors.
And trust and transparency.
Your character shows and it's solid.
I'm half Sardar.
- I'm married to a Sardarni. - Correct.
I'll make you an offer.
But I'm a little conflicted.
Will you take more money?
We'd love to hear your offer.
What are your sales, you said? 10 Crores?
This year we will close at around 11 - 12 crores.
I'll give you 2x.
Assuming you will close at 11 - 12 crores.
Which is 24 crores valuation.
1.4 crores for 6%.
But because you are in a high-risk zone, as you said it,
the actual QSR is made
when you go from 50 to 100.
So to secure my money, I'll take a 1% royalty.
[pensive music playing]
[tense music playing]
- We have a counter. - Yes, go for it.
We would like all three of you to come together.
For 70 lakh rupees for 3% equity.
1% for each.
So all of you have a piece of the pie.
My counter to you is... I've not yet cleared it with them.
If they agree,
we'll put in 1.4 crores.
No fight on the valuation that you are asking.
You are fair and I want to respect that.
We'll take 6% but on one condition.
1% royalty, which is not much.
Peyush, Anupam and Vineeta, the deal is final.
- All right. - Congratulations.
Thank you so much.
- Hello. - Hi.
Thank you, thank you.
'We are very focused even today.'
'We think this has a lot of potential.'
'And the offer given by the three sharks,'
has validated
our thoughts. So, we are very happy.
Okay, Aman isn't on board, but he gave very good feedback.
Thank you so much, guys.
Thank you, guys.
Hello, Randhir and Tarun.
- Whose idea was it to come on the Bullet? - Thank you.
It was our idea. We had discussed a lot about it.
We thought it was our mascot.
Our entry has to be special. We are Punjabis after all.
That's right.
Do you know your vibe is so good, I wanted to have a full meal with you.
I thought of ordering something while your pitch was going on.
You already have the 'chaap.'
I've ordered juice and cold drinks from Swiggy Instamart.
And it's arrived in 10 minutes.
- Oh, wow. - That's great. - Thank you so much.
If you need anything else, tell me. Or else, we can get started.
Let's order some chips and dips.
- It will add a crunch. That's best. - Yes, it will add the crunch.
I'm ordering from Swiggy Instamart. Friends you also order something.
You should eat while watching. How can you watch just like that?
It'll come in 10 minutes. Everything is available. Order now.
'Shark Tank India, co-presented by ACKO Insurance,'
'PokerBaazi and Swiggy Instamart.'
'Co-powered by Adani, and Jaquar Bath and Light.'
'And partners, Rayzon Solar, ICICI Direct,'
'Lenskart and Sofy.'
Which school is this, that's producing
- such brilliant investors and businessmen and women? - Oh God.
This is the best school in the world.
This is Delhi Public School, RK Puram.
- Were you there? - Oh my God, me too.
- Were you there? - Yes, I was in RK Puram. - Oh, God.
- Really? - Yes.
Which year were you?
- Don't say it. She's still a baby. - Yes, I'm a baby. It was 2013.
- Oh, my God. - I mean, not that...
- Please, 12 years. - Give or take two to four years.
- Two. - Twelve.
Did you have to say it?
No. We knew each other.
- Actually... - I think this is Vineeta's problem
that people think they are her friends, but she never thinks like that.
Oh, really?
- Was she the popular, sassy kind of girl? - No.
You know, 'that girl?'
No, I was not. I was very nerdy and so was he.
- Okay. - At that time we would study a lot.
Because if we didn't get into an Engineering college,
it would be a problem.
Was she sporty, because we know that you're athletic?
I used to play badminton for the school team.
But she was very, very smart.
But more importantly, very nice.
- Very nice? How sweet. - Even then.
Did you both meet after school?
No, actually,
the funny thing is I left Delhi long back. I live in Mumbai.
I started reading about him in the news.
- Because there were so many stories about Snapdeal and Unicorn. - Hmm.
We met for the first time
at an investor event around five years back.
- And that... - Oh, that recently?
Yes. He was speaking on the stage
and he's like, 'Oh, Hi Vineeta.'
I was like, 'Thank God, he remembers.'
Did you really remember or were you just saying it?
- Of course, I remembered. - You remembered.
No, I think... I feel that
we actually never forget our...
- those who we have grown up with. - That's true.
It's very hard to forget.
- I think we have better memories as children than as adults. - Hmm.
And we were in the same class for four years.
- We don't forget so easily. - That's a lot.
- Then I think we met after five years on the set. - Incredible.
- For Shark Tank. - Directly. - But I'm meeting Kunal Bahl by two.
Because in the last 20 years half Kunal Bahl stayed back in school.
Oh, really? Were you like a cute, chubby kid?
He was a super-cute chubby kid.
- No, I think I was not cute. - He was like...
I was chubby for sure.
In school he was like this sweet boy.
A very hard-working and studious boy.
And like normal. Now, he has become a gravitas person.
I mind my own business.
When I heard this story that he goes to a coffee shop
with his wife in the morning and drinks a cup of coffee
and then doesn't drink coffee the whole day,
he doesn't eat junk food either...
- So disciplined! - And like no bad habits.
I am like, 'Who talks in morning conversations at the coffee shop?'
- Because you're like really... He is this... - Yeah!
- very serious person. - But it's not like that.
I mean, I can be fun.
Look at the smirk on his face.
'I can be fun.'
When Aman and I are having fun in the Shark Tank,
he is the first one to say, 'Okay, let's move on!'
Do you guys feel that you were batch-mates in school
and now you're sitting in the
- Shark Tank sets? The feeling is surreal. - To think about it...
I feel God has a plan for everyone.
What are the chances of ending up
in the Shark Tank sets from the DPS canteen?
- I know. - What were the chances?
I think an incredible thing happened to both of us.
It's been madness in India in the last 15 years
with the startup ecosystem. I think,
somehow, in different ways,
we both got into this ecosystem pretty early.
- Yeah. - So I think... My struggle started in 2007.
- When did you start? 2000... - 2007.
2007, right? So,
I think, if smart and hard-working people grind for 15-20 years
in a place where the economy is growing,
something or the other happens.
- Incredible things happen. - Yeah.
So I think we've been lucky because we've been here for 15 years
but we have seen so many cycles
of market going up and down. Our companies going up and down.
And I think the only good thing that happened
is that DPS taught us to be ambitious and work hard.
We'll meet again on Ask The Shark
with the new Shark and new questions.