[music playing]
[theme music playing]
Sharks, March 2021,
SKY, Suryakumar Yadav, International Debut,
First Ball, Jofra Archer, six!
Who does this?
After a year, T20 World Cup,
India and Pakistan, MCG,
- Virat's iconic shot of the century. - This.
That effortless, not-so-straight, straight drive.
There were goosebumps.
For us, these are effortless shots,
but for that players must've put a lot of effort in the back end.
By getting inspired by these shots,
millions of players work hard
to improve their craft.
But is the hard work enough?
It isn't enough.
Hard work without data, no point.
What you cannot measure, you cannot improve.
Sharks, cricket has evolved a lot over time.
There have been changes in the format.
But even today, there isn't a tool
that can provide an objective measurement and analysis
of your cricket or sports skills.
Rahul, but not anymore.
Because we bring to you with Str8bat, your bat buddy.
Str8bat is a deep-tech company in the sports industry.
And cricket is our first use case.
...which can turn
any bat into a smart bat.
- Cool. - This is a patented technology.
...increasing his bat speed by 21%
...and impact speed by 27%.
That's the power of Str8bat.
It makes players better, faster.
And that's not where we've stopped.
We've collaborated with a top brand and created Smart Willow,
where our technology is integrated into the bat.
...there are thousands of players using Str8bat.
91% of players
have improved their batting with Str8bat technology.
but to democratise sports as a whole.
Sharks, we want to invite you on this journey.
Our ask is Rs. 1.5 crores for 1% equity.
Wow, very nice! Madhusudan, Gagan and Rahul,
Okay, what about you, sir?
I am an endurance athlete.
I participate in Triathlon, Ironman,
and I am a long-distance open water swimmer.
I haven't played cricket much, but I've played tennis ball cricket.
I completed my engineering in Bengaluru. I am from Kolkata.
I started as a tech geek, became an architect
and wanted to understand the business better.
So, I joined INSEAD Business School for an executive program
The sports industry is an industry that only has lagging indicators.
How many runs,
goals, or aces you've made, there are no leading indicators
which tells you that you can perform better.
That was the whole thought.
Sir, could you give us a demo?
This is how it works.
It connects with
a smartwatch or a boAt watch automatically.
What you see here is the home screen of our app.
I would like to show you my career batting CV.
I've played 116 sessions,
around 2,500 shots,
and my bat speed is 71 kmph,
impact speed is 62 kmph.
Timing index is 85%.
And sweetspot index is 47%.
Sweetspot is what we measure
by the look and the feel of middling the ball.
We put an objective number to this.
What is my bat lift? 40 degrees.
A 4-degree shift in bat lift angle improved. It's crucial.
These are the metrics.
It's me versus the world average, versus the pros.
so we can benchmark their data with yours
- and we can give you a target. This is your target. - Okay.
Across different metrics.
We capture motion without cameras. This is what we do.
For every shot,
we recreate the entire motion
without any cameras.
- Our first patent has been granted for this - Wow!
We would love to, actually!
I am ready for the game.
We will play an over.
Rahul will capture your data on a tablet.
Let's try and do a bat speed challenge.
- Aman, do you want to go first? This way. - Yeah!
- All right! - I was always like this.
Aman, the bat is currently turned off.
You have to swirl it and turn it on.
- Is that how you turn it in? - Yes.
- Oh, that's very nice. - You need to do one more thing.
- Now you... - What does this do?
We calibrated it. It's crucial for it to know
where the bowler is and what the direction of the pitch is.
This calibration understands its surroundings.
- Does it have sensors? - Yes.
- It has a sensor. - It has motion sensors.
- And... - This is where it is.
- That's very nice. Very advanced. - The green light turns on.
- You may play now. - Now you are ready to play.
[music playing]
Whoa!
Oh!
Good shot!
[music playing]
- Oh! - Oh no!
Aman, let's take two shadow shots.
What is that?
Shadow shot means you just have to swing it.
This way we will find out how fast you can swing your bat.
Okay.
That's good.
Wow!
Good work.
I loved it!
- Did you see that shot? It was good. - Thanks, Aman. Yes.
Despite it being a leg spinner.
They will show you how good you are.
[music playing]
- Good shot! - Ritesh, power!
Oh, nice!
Ritesh, let's do two shadow shots.
- Let's go! - One, two...
- Good one! - Nice.
- Good shot! - Nice!
Let's compare scores.
[music playing]
Aman, your average bat speed of the session
was 49 kmph.
And Ritesh, your average speed
- was 62 kmph. - Oh no! You lost a deal.
And Aman, your shadow shots were...
Your maximum speed was 75 kmph,
when you tried to hit a sixer.
- It accurately depicted the shot I hit. - Yes.
- That's very good. - Same.
Also, if I look at Ritesh's statistics,
when he tried a cover drive,
his impact speed was 61,
68 was his total swing
and 90% timing index.
His bat comes between the first slip and the second slip.
His shot was great.
- At 97 kmph? - Oh! Whoa!
And 92 kmph.
- So, 75 versus 92. - 92.
To 49 versus 62.
So, we have a clear winner.
- No! - But it also depends on the ball.
- Oh! - I said something wrong.
If the ball is slow and you hit fast, it makes no sense.
Now, this is mostly for power hitters
Yours was 75 and his was 91.
Let's assume that he was hitting the ball.
And your impact speed was 75.
The bat speed was also 75.
With Ritesh, let's assume
it was 91, but the impact speed was 75.
91, 75 and 75, 75.
Your ball will cover a longer distance
- with more consistency. - Yes.
Simply because, at the point of impact,
you've directed your power into the ball.
- I was telling you. - There is stability.
They were just looking at the number. It's not necessary.
Let me tell you that IPL Team Rajasthan Royals,
have been using Str8bat
can see one of their players is playing well through this app,
can they find team members also?
In trials, everyone plays with Str8bat.
After that, if you bid for me,
you will have my data.
Based on which you will bid for me.
- Okay! - In fact, I can quote
a senior person from Rajasthan Royals,
'What started off as a technology experiment'
'is our way of finding our next superstar player.'
Nice.
Are you trying to say
that you have improved the performance
of a team like Rajasthan Royals by sharing data analytics?
- Some of them, yes. - Yes?
This year, you must've seen that they chose a 13-year-old boy.
They specifically stated,
'He was at our trials...'
He hit three sixes in three balls.
'We bid on him because we found his data interesting.'
Did you have his data?
Unfortunately, I can't share that with you.
- Why? - Okay! There is a 'yes' in your 'no'. That's fine.
So, your core customers are athletes.
It is designed for pros.
You either want to be a professional or you already are.
We created this category.
This category never existed. You don't know the metrics.
Cricket Australia and Rajasthan Royals are our customers.
Is the product effective?
Will this metric improve the performance? We did that.
The credibility of the game.
But the overall vision is to democratize.
If your customers are pros and athletes,
means you have to create the top technology in the world.
If your customer base consists of hobbyists like us,
When we work with pros, it's a service package
This is made for casual players. We...
- Why? - How would it matter to a casual player?
Are you doing this because you feel the market size is small?
Players from the age of 12 to elite players
are our customers.
But what we do is, we provide that technology
to everyone.
Our answer is
democratisation of technology in sports.
We started in March 2017.
Our first customer was in November 2017.
Did you make a product in six months?
Our belief is that
if we are not embarrassed by our first prototype or product,
then we are too late.
We believe in an iterative model.
This is Mark Anderson's quote.
Yes! And Eric Reeves' too.
- And... - You've read up on quotes.
Let's focus on the numbers.
Let's discuss the numbers for the last three years.
Kunal, I'd appreciate it
if you could spare 30 seconds of your time if that's alright.
Till 2019, we didn't sell our products.
We used to collaborate with academies, teams, and leagues,
adapting our product to market fit, but they were paying customers
as a service model.
FY20-21 wasn't in our favour.
- Due to COVID, people were not playing. - Okay.
In 2022, this retail product that you can see over there,
- How much revenue did you make that year? - Rs. 1.2 crores.
And in 2024?
The similar number in 2023 and 2024.
Why has it been flat?
Basically, D2C channels.
First we realised that our go-to-market model wasn't perfect.
This is not the way to sell this product on the D2C channel.
Okay, we have questions about the pricing model.
Let's finish these numbers first.
- In FY25, how much have you sold? - Until now,
- our revenue has been Rs. 44 lakhs. - Whoa!
- That's it? - Again, flat.
This month we will do around 18 lakhs.
How much was our burn in FY23?
Around Rs. 3.5 crores.
How much was the burn in FY24?
This year, in FY25, how much is our burn?
The expense has been around Rs. 45 lakhs.
Expense?
- Rs. 45 lakhs... - You said the revenue was Rs. 18 lakhs.
- Yes. - How much sales were in India and in Australia?
95% was India.
- How? - Rubbish! From Rs. 40 lakhs to Rs. 4 crores.
What will change that your revenue will be Rs. 4 crores this year?
And you only have around 4 months left.
We didn't have money to manufacture.
We didn't have costs for raw materials to buy in bulk.
So, we have now switched to
big contract manufacturers in Southeast Asia,
where the assembly line gives you a more predictable
and much more scalable thing.
What is the amount you have put into CapEx?
Rs. 80 lakhs.
If you don't have the resources,
and the capacity isn't being used,
then how are you burning around 300% every year?
Where are the expenses mounting up?
We have fixed costs. Rs. 20 lakhs is the employee cost.
- There are 18 people in a team. - Per month?
- Per month.
There is a continuous R&D happening.
What's the pricing structure? Tell us about it.
The black product is Rs. 6,499.
Rs. 1,188 is subscription revenue.
This year, we completely pivoted our go-to-market strategy.
We have a multi-thousand unit deal with SG.
Where they will sell Smart Willow
through almost 900 retailers in the country.
We have their order book for the next three years.
- So, that's... - What is the value?
We've got 50,000 unit orders from them over the next three years.
We are not comfortable sharing pricing
for a B2B deal. Sorry, sir.
Let's talk in percentages.
- Okay? - There are many mathematicians in India.
But I want to tell you
that this number is cooked in the air.
This contract is signed
and it's getting delivered as we speak.
Gagan, you said this was your idea
while you were in INSEAD.
So, is it fair to say that you are the CEO?
Just tell us about all three roles
and your equity structure.
- Chief Operating Officer and Co-Founder, 14% equity. - Okay.
Gagan Daga, CEO, 27% equity.
Madhusudan, Chief Business Officer, 5.57% Equity.
So, all three co-founders have 46.5% equity.
Which means that the balance
- of 53.5% is with the investors. - I can explain the...
There are around 13%-14% in ESOPs and advisory.
- Rest? - The rest is with investors.
Recently in October, we raised a Series A round
in which we diluted 22%.
Exfinity Venture Partners led the round
and we raised a total of 3.5 million dollars.
- How much equity do they have? - Exfinity has 10%.
- 10%. Who did you give 12% to? - Yes.
After that, our investors are TRTL Ventures,
Eternal Capital, SucSEED Indovation
and Probo.
From 2017 to 2024,
we raised 1.6 million dollars
in different angel rounds.
Lead Angels, Techstars,
- Cricket Australia is our investor. - Really?
How much equity does Cricket Australia have?
They will invest 7.5 million Australian dollars
into marketing and branding in Australia.
Based on users and revenue,
they will gain equity within a year.
So, 5.5%
has to be vested based on value.
It is not time-based, it is based on value created for the business.
Greg Chappell is our investor.
- Wow! - James Sutherland is our investor.
Amazing!
- The cap table has been reviewed. - It is complex.
Very complex.
Yeah, this is something unique to this pitch.
You started this business seven years ago.
Are you happy with its progress?
No!
Why not?
Category creation was difficult, I knew that.
I didn't know it was so difficult.
But are we the lion in the market share? The answer is 'yes'.
In our entrepreneurship
and investor ecosystem, we always hear that hardware is challenging.
It must've been clear to you in the seven-year journey
why hardware is so hard.
It takes a lot of time.
Making the product, spreading awareness,
and getting users to adopt it is a time-consuming process.
Making software is also time-consuming.
You seem to be committed to this business.
Do you know what the difference between
a product and a business is?
You have solved a lot of problems.
Now, I believe we have made a good product.
But the business hasn't been established yet.
It's possible that the contract might go up to 5 lakh bats instead of 50 lakhs
with different manufacturers and OEMs.
But currently, when we are assessing this investment,
things are unclear.
I am out today. But I wish you all the best.
Thank you, sir.
I think you've built a good product.
And I wish you build a good business.
Thank you so much.
Thanks, Kunal.
The complexity of your cap table is so much
that as an investor, I don't see
how I can add value beyond
what the existing 54% of investors are already providing.
In fact, you have Greg Chappell and Cricket Australia.
So, I doubt I will benefit from this.
- For that reason, I am out. - Thank you!
You partnered with Rajasthan Royals
and SG.
You didn't invest in D2C marketing, but you tried.
You partnered with Cricket Australia.
These have a minimum potential of Rs. 20-Rs. 25 crores value addition,
and there could even be an opportunity for a 50 crore increase.
I felt like telling you that we would do
the conditional deal and carry out the SG contract diligence.
But you haven't fully cracked that one area yet.
So, I am out. I wish you all the very best.
- Thank you so much. - Thanks, Ritesh.
I believe that your consumers
are all the cricket players in India and globally.
My issue is with the valuation.
To give a valuation of Rs. 150 crores,
it can't justify it with a Rs. 2.5 crore loss.
Are you open to adjusting the valuation,
or is a down round off the table for you? That's my question to you.
Thank you so much.
Unfortunately, we won't go down round.
Very surprising.
- We are here... - For marketing.
We are here
to get some of you on our side of the table.
Doesn't look like that is your intention.
How do I tell this? I don't know.
- Gagan, so you want to crack a deal? - Yes.
- Sure? - Yes.
I think that you've made an interesting tech.
I think it can do well. It is not yet out.
You need to learn one thing and that is how to close a deal.
Let's see if you've learnt that.
I have an offer for you.
Rs. 1.5 crores for 4%.
Aman, thank you.
Why did you refuse me?
No!
I am feeling offended.
We will not bring the valuation down.
In order to determine
whether we have a deal or not,
we need some time to think it over
and get back to you,
- as well as to inform Aman. - Go and think, but make it soon.
We want to see if you are genuinely here for a deal.
I doubt he will go below 117.
At 117 he will say...
- Advisory! - And say he will give 1% extra as advisory.
His counter will be 2%.
[music playing]
We need help.
At Rs. 117 crores, which is our current valuation
of Rs. 1.5 crores up to 2.5%...
What is 'up to'?
- Okay! - That will be a pleasure.
We think that there is a lot of work.
Yeah! There is a lot of work.
It's not only a financial deal. It's a strategic deal.
- We want to stick to 4%. - 4%?
Aman and Namita, deal accepted.
[cheering]
Good decision.
[camera shutter clicks]
- Thank you! - Very good.
[music playing]
Welcome to ACKO Change Makers,
where we really welcome change.
And we saw a beautiful portrayal of this on our change makers wall.
With a forward-looking vision, we are bringing inclusivity in sports.
Our today's change makers are Madhu, Gagan and Rahul. How are you?
- Good! - Amazing!
I think your bat sensor is revolutionary.
With the help of this, athletes
and passionate people
can also improve their game.
I want to ask a question on behalf of the audience at home.
What adjustments can they make in their daily routine
to better incorporate sports activities,
technologies and smart techniques?
For those who are into sports,
they should focus on data.
They should start measuring their data.
Record the data,
and from there, you can establish the baseline
and then you'll be able to track whether you're making progress,
are stationary, or if your sports performance is decreasing.
There is one more thing, sports is something
- that you should never quit. - Hmm!
Because sports teach you
to rise when you fail.
Wow! You are bringing a great change.
Similarly, ACKO is bringing a change to the insurance landscape
with its revolutionary offering.
Now, with ACKO's car insurance,
you can claim your repairs in your preferred GST-registered garage
or opt for a direct cash settlement.
Also, filing a claim is easy because it's all online.
We appreciate this change, and for your time on Shark Tank,
we would like to offer you a gift on behalf of both Shark Tank and ACKO.
Thank you!
- Oh, this is nice! - Beautiful! Thank you!
[camera shutter clicks]
'Shark Tank India, co-presented by ACKO Insurance,
'PokerBaazi and Swiggy Instamart.'
'Co-powered by Adani and Jaquar Bath and Light.'
'And partners, Rayzon Solar, ICICI Direct, '
'Lenskart and Sofy.'
It's here... Oh my God!
Hey! Another makeup brand.
Ruby's Organics. I know this, friends.
Do you know this company?
Of course! They've been around for long.
[laughing]
You are enjoying this. Have fun!
[theme music playing]
Hello, Sharks! My name is Rubeina. I am from Mumbai.
Can you see how my eyes light up when I say that word?
But unfortunately, my love was one-sided.
Because the makeup that I loved didn't love me back.
After a study, I found out
that 36.7% of females in India
have a type of skin sensitivity,
due to which they are unable to use a lot of cosmetics.
It contains petrochemicals, artificial fragrances,
hormone disruptors, and microplastics
that can affect our health in the long term.
Therefore, in 2017 I started Ruby's Organics.
One of the first online D2C brands
our products equally love them back.
Our vision is to create clean beauty products
that don't just make us feel better
but are actually better.
For that, my ask is
Rs. 1 crore for 2.5% equity in my company.
[chuckles]
Ruby, welcome to Shark Tank.
- Amazing pitch. - Thank you! It's been a dream.
- Thank you! - Making organic, plant-based makeup
- is very difficult. - It is.
- So, well done for building the brand. -Thank you so much.
How did you figure out how to make these products?
I actually faced many skin issues.
After using the foundation, my skin
used to be inflamed for around 5 days.
Of course, I consulted a dermatologist.
They mentioned that for those with sensitive skin,
many petrochemicals,
microplastics, and silicones are not suitable.
And back then, we didn't have many options.
I mean, we used to call our relatives who lived in the US
to bring something from an organic brand there.
That is how we used to hustle.
Which brands in the US were organic brands?
- RMS Beauty. - How big is that brand?
I think 60 million dollars. And they are acquired.
Are there brands in India focussed on
- organic makeup? Who are they? - Of course! There are plenty.
- So, there's Juicy Chemistry. - Okay.
There is Earth Rhythm, Daughter Earth,
and Plum in some categories.
- Are there studies in India or globally... - Yes.
To show what damages regular makeup
can cause on your skin compared to organic makeup?
- Yes! - Is there data or evidence?
Lots, ma'am.
Give us a couple of examples.
The ingredient considered the most harmful to the skin is Phthalates.
- Phthalates are used for carrying fragrance in a formulation. - Okay.
When we read the ingredients,
we see 'fragrance.' It's usually the last ingredient.
Many companies use that as a trade secret
to hide the phthalates that they are using.
Which is DEP! It's a very commonly used ingredient.
And it's not disclosed.
So, how does a common person like me find out?
That's what!
What are a couple of ingredients
- that I should know are bad for me? - Polyethylene.
- What does that do? - It's Polythene.
It doesn't cross your skin barrier.
In that sense, it's safe.
But when we apply lipsticks, we eat them.
Ah!
- Yes, I just want to add to this. - Thank you!
The fragrance in make-up,
even if a brand adds it, mostly...
A lot of brands don't add it.
It is 0.0001%.
- Okay.- - That's the last ingredient
which is why it isn't expanded.
- Correct. - But fragrance is something
that body washes, face washes
as well as perfumes contain in a much higher concentration.
The long-term harm that fragrances and phthalates cause
is actually the least in make-up.
But the harmful ingredients in make-up...
- Specifically that used to be harmful... - Yes.
- Lead, asbestos, mercury. - Yes.
The Government of India has banned them.
Coming to petrochemicals in make-up.
Again, the biggest is wax.
So, lipsticks have wax
- but so do lip balms. - Yes.
I haven't read any research on how harmful it is.
I think a lot of brands are not using polyethylene
in their lipsticks nowadays.
Our focus is not to demonise chemicals
or any other brands
but we can be more thoughtful and mindful
about the ingredients we do choose to use.
Just a small example.
Our sunscreens contain UV filters
namely oxybenzone, avobenzone and octinoxate.
There is proof
that when used, it enters the bloodstream
and it's been found in tissues as well.
So, it's more of a precautionary approach.
That's it.
We discussed a lot of things.
- "This contains x. That contains x. This is harmful..." - Yes.
Tell us a little about your products and proposition.
Why should someone buy Ruby's Organics?
Make-up made better.
But what does that mean?
It's an ingredients-first approach.
They are ECOCERT and COSMOS-approved ingredients
and most of our ingredients are certified.
Our sourcing is only through
...gives surety to the customer
that the products are indeed clean.
[chuckles]
Aman!
- The packaging is very nice. - Namita... Thank you.
- Ritesh. - Thank you.
Yes. Just in case you want it.
Yes, thank you.
Thank you so much.
Ruby, the feel of your product is great.
Thank you.
The lipstick is unique.
- You've to press it to expose the lipstick. - Yes.
- It's a click, right. - Almost like a pen.
How many SKUs do you have, Ruby?
Approximately 100 active SKUs.
What's your top-selling product?
Our Kohl Pencil by volume.
- What do you call the eye pencil? - Kohl Pencil.
Is this 'kajal'?
- Yes. - 'Kajal.'
Sounds so British! Kohl Pencil.
- British! - So...
[laughs]
How much do you get kohl for in the market?
Between Rs. 200 to 600.
- So, this is expensive. - No.
The selling price is Rs. 585.
Which is good or bad?
- Which is very expensive. - Which is...
It's on the premium side,
but we are convincing people with really good content.
So, the conversion rates on our website
on a normal day are between 4 to 6%.
- Tell me something. You mentioned ECOCERT and COSMOS. - Right.
That's an incredible certification.
Why don't you mention it on the pack?
When we write that, Vineeta,
that's when the brand is certified.
- Why didn't you certify the brand? - Because it's really expensive.
You ought to make that investment because that's...
- On the brand, right? - Yes, of course!
Without that certification,
you can't claim it's ECOCERT and COSMOS-approved.
But I promise you it's part of the plan.
Ruby's Organics.
- Plant-based, mineral-based make-up. - Hmm.
Is this an afterthought
or is this what you always wanted to do?
I've always had the foresight.
Small brands are popping up in North America, Europe and Australia...
Obviously, my...
Because of my own issues and struggles,
I knew what was happening.
When I saw this,
I wondered how they were doing this and wanted to try it too.
I didn't have any backup.
I borrowed Rs. 5 lakhs from my dad.
I had a savings of Rs. 5 lakhs.
After a year of making ingredients in my own kitchen, by the way...
I would order the raw materials from eBay
and make it in my kitchen, but this was food grade.
It was my personal conviction that this was worth exploring.
Then I connected with an R&D company.
They helped me fine-tune the product.
After hours of research, we found alternatives.
If I wanted x consistency,
what ingredients must I use?
If I don't wish to use silicone, what can I use instead?
Of course, I spent three years at home without a salary
on the basic minimal I made.
But now, when I look back, it's all worth it.
How? Where are you now?
What are you doing? Where have you reached?
- Tell us the scale of your business. - Okay.
In FY 21-22, it was Rs. 2.2 crores.
In 22-23, it was Rs. 3.2 crores.
In 23-24, it was Rs. 4.5 crores.
And this year, we're projected to close at Rs. 7.5 crores.
The next year after that when we raised funds,
our loss was -34%.
The year after that, -14%.
And this year, so far to date, -8%.
And the projected profit for the whole year?
8%.
How, Ruby, when you've been making losses for 7 years?
No, we were profitable for five years.
- When? - From 2017...
From 2017 to 2022.
Yes. So, when we raised money in 2022...
Rs. 2 crores for a Rs. 10-crore valuation at that time.
That's when our fixed cost really went up
because we'd hired a team at the time.
We were CM1 and CM2-positive consistently.
Ruby, your progress was quite significant.
- Your sales went up... - Yes.
And your losses reduced simultaneously.
- This means your business has been progressing. - Yes.
Could you tell us about your unit economics?
Your gross margin and expenses.
- Yes... - Before you get to that,
how much cash do you have in the bank?
As of October end, Rs. 10.5 lakhs.
That's two months of money.
Um, yes,
but we do have a credit limit
- which we're getting a renewal on. - You could draw that down.
Okay. You may proceed to the unit economics.
Yes. COGS is 24%.
Direct expenses is 15%.
Define direct expenses.
Direct expenses include logistics,
- payment gateway charges... - Okay.
- Shipping boxes. - Okay.
Then comes marketing which is about 37%.
Yes, it's high.
Performance marketing is expensive.
- And fixed costs which is 27%. - Okay.
That's salaries, rent and the others.
Where do most of your orders come from?
E-commerce. We have D2C and marketplaces.
And 42% comes from marketplaces.
What's your rating on Amazon?
Between 3.9 to 4.2.
Our foundations have the highest ranking.
- Repeat customer percent? - About...
On Amazon, it's about 20%
- but... - And D2C?
In D2C, it's 35%, last three months.
Very small right now.
- When did you get listed with them? - It's been a year.
- It didn't ramp up... - Yes,
but very limited SKUs for now.
Why do you think you failed to get traction on quick commerce?
Because with make-up, even now,
there are the Nykaa's of the world.
People are so comfortable with Nykaa
- and... - It's not like that.
- We're investors in a company called Fae Beauty. - Right.
- Right! Of course, she's a friend of mine. - Yes.
- She has great traction in quick commerce. - Yes?
Is she spending?
I'm sure she is.
- Yes, that's not... - But...
We're not doing that right now.
Ruby, I see a problem with the business.
Why?
I think your sales are not a lot.
I mean, there isn't much demand for organic make-up.
On the contrary,
through statistics, I got to know
that in 2024, the sale of natural cosmetics in India
was about 935 million.
Just natural cosmetics.
What are the sales of your competitors like?
So, like Just Herbs,
I think it's easily over Rs. 100 crores.
Juicy Chemistry?
Juicy Chemistry as of '23,
I think Rs. 40 to 50 crores.
- Not very sure. - What about Plum's organic range?
Plum doesn't have an organic range. They have a natural...
- What is it? - Call.
I'm not sure about Plum.
Vineeta, what are your views on organic make-up?
The market is quite small now.
She said 900 million.
A large part of this is skincare brands,
- which comprise fake naturals called greenwashing. - Yes.
They claim they're natural and organic
but actually are not
because it's real hard work.
You think this is a small market?
It's small now. Rs. 100 crores right now is small.
- It hasn't grown too much even abroad. - There was...
Sorry?
A study report done by Bain and DSG said
that young India
is willing to pay a premium
on these top two USPs.
Natural and chemical-free and the second is, made in India.
It is an evolving market.
It's growing very fast.
Ruby, if asked to quit organic and do something else, would you?
No.
What if you don't get sales and the market doesn't grow?
- It will. - When?
2030.
- We'll invest in 2029. - This market is going
to be a billion-dollar market.
We'll enter it then.
I have no problem though. I love what I do.
She's been doing it for 10 years. Why would she change for you?
I love what I do! I'll keep doing it.
I've been doing this for 7 years. So...
- You won't survive if you don't get funding. - No.
- How so? - The capital is available.
Our investors are willing to reinvest also soon,
- but I said let me do Shark Tank... - Okay, Ruby!
Your journey is like a marathon.
I remind founders more often than not
that start-ups are a marathon. It takes time
- especially to build a brand and gain trust. - Yes.
But every marathon will consist of sprints too.
- Correct. - We went through a phase
when our products went viral and were sold out.
We realised that this is big and we ought to invest in this.
So, I think you should do sprints too.
- Marathon alone is not enough. - Okay.
- The online window on quick commerce right now... - Yes.
Will not return.
It'll get overcrowded. You ought to double down there.
Secondly, certification in India really matters.
- but quote an organic certificate. - Right.
Those are my two suggestions.
Right now, the scale and category in which you're playing, is small.
- For that reason, I'm out. - Sure.
Certification, I agree with Vineeta, it builds trust,
but I don't agree with Vineeta
that your marketing cost after certification would drop to 10%
because this is a category
that requires spending on marketing heavily.
- That'll always remain a challenge. - Yes.
I personally feel that players like Plum and all...
- Purplle and Nykaa have their own brands too. - Yes.
Very easy to catch on to the organic trend
when it involves
- to launch their own, label. - Yes.
They have already built trust.
And for that reason, I'm out.
Okay, sure.
I feel that by the time
- you work on this and try to grow it... - Yes.
Another brand would double down on this and make it much bigger.
So, your right to win would lower
compared to the brands which are already funded
and are already...
This is why I'm here.
- This is the beginning of something very big for me. - This...
No, but why this?
- You already have funds. - I will get you.
- We... - It gives me direct access to so much guidance, Aman.
[chuckles]
[laughs]
Ruby, I'm out for now.
- Unfortunately. - No problem, okay.
I feel you need to run
a bit faster in the race
before the other brands join in.
Going to run faster, 100%.
In comparison to your numbers,
your spend on performance marketing is disproportionately higher.
- Okay. - By design, if your content
is truly so compulsive for the customer,
they'll start buying your products
- without having to boost those. - Right.
As that's not there, I'm out for that reason.
I wish you all the very best.
Thank you so much.
Kunal, go with your gut feeling.
[laughter]
Good one.
You want to bet on me. I know it, I can see it.
- Oh, nice! - Okay, Ruby.
I have a high interest in this space.
- I've invested in many companies in this space. - Yes.
FAE Beauty, Renee Cosmetics, Mamaearth, Nat Habit.
I believe that Indian consumers will continue to consume them.
- They need newer options. - Yes.
I think this company has quite a few good aspects.
The products and the founder.
- The financials are improving. - Definitely.
However, currently, this company is running at room temperature.
Okay.
- You need to inject some heat into it. - Yes, sure.
- Raise the temperature. - Yes, ready.
I'm happy to do that.
- Thank you. - Whoa!
- Yay! - Nice.
So, I'll invest Rs. 1 crore
at your last round's valuation of Rs. 10 crores
- for 10% equity. - No!
Can't do that.
- You think about it. - Um...
Kunal, we have a long way to go.
Can you please support me? You won't regret it.
- Can you do 4%? - I...
I'm committed to supporting for not a few years,
- but 15 to 20 years. - Uh-huh.
If we, Titan Capital, get involved,
you wouldn't even know when the sales went up
from Rs. 7.5 crores to Rs. 75 crores.
Yes.
If you want, you could give another counteroffer
- which is closer to... - You could also turn it down.
When you were doing Rs. 7 crores in revenue
and someone gave you a Rs. 10-crore valuation...
I would have said no flatly.
- How can I? - I mean...
I'm the future Vineeta.
- Oh! - Oh, that's so nice.
- I have to take her advice. - That's so nice.
We would like to have you here.
Okay, Ruby. What is your final proposal?
Kunal, 4%.
I'm telling you on national television.
I'm giving you my word.
I generally don't negotiate.
I'm very clear about the offers I make.
There is something very likeable about you.
And for that reason, I could do Rs. 1 crore for 8%.
- Take your time. - Thank you, that really helps.
- Take your time. - That's important.
What do you think she'll do?
It'll be wrong if she doesn't take it.
- What do you think, Ritesh? - I don't think she'll accept it.
- I think she will. - But that'll be a mistake
- if she doesn't take Kunal's offer. - She might.
- 'It feels it's going to be...' - Yes, that's the call.
'Honestly, it's not... It's not great, yes.'
- She... - I think Kunal will be convinced for 6%.
I think this deal will not go through.
[tense music playing]
Hello, Sharks.
- Wow! - Greetings and welcome.
Kunal, we scaled 3x since our last valuation.
At least give us a 3x multiple on Rs. 7.5 crores.
- Which would be? - 5%.
You've come down to 5%.
I'm at 8%. I'm very clear.
I offered 10% and came down to 8%.
I won't settle for 7%.
One percent.
Let me do it.
[tense music playing]
So, 3% advisory shares?
You may structure it the way you want,
but Rs. 1 crore for 8% equity.
Yes.
Super sealed.
- Oh, deal's sealed. - It's closed.
Do well.
We will for sure. Thank you.
- Rooting for you. - Thank you so much, guys.
Seriously!
'Kunal negotiated with me and took my consideration.'
That shows how much he believed in me.
...and he still believed in me.
Opportunities like this don't come often.
[joyous cry]
[music fades out]
Hello, Rubeina.
Hi!
Welcome to our PokerBaazi zone where you hold the cards.
Thank you for having me.
How was your experience?
Life-changing.
- Very chilled. - I love that.
...achieved a bit of success but there's still a long way to go.
And lastly, the maturity phase
where you've cracked everything and you've got the money and fame.
Everything's going very well.
For our audiences at home,
please share a story relating to any of these phases.
In the growth phase,
a really exciting thing happened a few months ago.
We launched two products.
And we stuck to our usual inventory
assuming it was a new product and category
and it'd take time.
- But it went out of stock within three days. - Oh!
So, that is one of my most memorable growth experiences.
Wow! Thank you so much for sharing that.
If you're a master of skills and strategies,
log on to the PokerBaazi app and make a winning hand.
Download the PokerBaazi app now.
A business giant passionate not just about his work
but also dedicated to empowering the differently-abled.
Mr. Jeet Adani, Director of Adani Airports.
[sentimental music playing]
'I don't think anything prepares you'
'for the weight of the responsibility that comes.'
'The only thing that can prepare you'
'is when you feel it the first time.'
In our religion,
...through this entire time and observing also, is humility.
I have to look back towards my grandparents.
They inspired all of us
to make sure that
this was a fundamental principle we believed in.
That's where Adani Foundation started.
[sentimental music playing]
I'd always go to old people's homes
and orphanages when I was younger.
There are so many people who are dependent.
How do we make them independent? Especially those in orphanages.
I connected that with the first time I ever visited Mitti Cafe.
[music playing]
'That automatically matured me a lot.'
Besides just dollars and rupees, it's actually about people.
We need more entrepreneurs who think about social impact.
[music playing]
Mr. Adani is doing so much for our founders.
So, we too have an obligation
in light of which,
we invited Mr. Jeet Adani on the show.
Our Shark Anupam had a tête-à-tête with him.
Let's watch a snippet of it.
and I'm sure, you certainly did not.
- So, let's welcome Mr. Jeet Adani. - Thank you.
Jeet, such a pleasure to have you here.
- Likewise. - Welcome.
- Do you watch Shark Tank? - One hundred percent.
A company called Fupro came on the show.
'Sharks, what you just saw is the future of prosthetics.'
'Gone are the days when the specially-abled community'
'was forced to use crutches'
'or an inferior-quality wooden prosthetic foot.'
It was so heartening to see
that in our country,
people are working on something
that creates a social impact
whilst accounting for entrepreneurship.
I think it's a wonderful cause. Have you met them?
After watching it, I had to call them.
I wanted to know more
besides what products they were making
and what their thought processes were.
'After speaking to Nimish and Cyril,'
'they seemed focused on how to do this sustainably.'
'They wouldn't donate it just because they'd made it.'
'Their approach was practical.'
"Fine, I gave someone a product."
But our ecosystem demands us to give them independence too.
If Shark Tank can have this kind of impact in the country
that big industrialists are meeting up with our pitchers,
I think we've come a long way.
- Thank you for making the effort. - No, thank you.
- I think... - Every...
- Not everybody acts on how they feel. - Yes.
You did that. So, amazing.
In the space of helping the specially-abled,
that's something very dear to my heart.
- I'll tell you a little more about that. - Why? I'd love to hear it.
My grandmother always focused on one thing.
"How do we truly serve people even if we have nothing?"
It started with that.
She would take me to orphanages from the time I was little.
I had a soft corner. I wanted to do something for them,
but for the longest time,
I didn't feel a spark about anything in particular.
An incident created that spark.
There's this lady by the name of Alina.
She runs a venture called Mitti Cafe.
- Where the differently-abled... - She! Exactly.
- Where they are hired as staff, right? - Exactly.
- Exactly. - The same woman.
She reached out to me saying,
"I really want to set up something at Mumbai Airport.'
Of course, I wanted to help out, so I did.
When I went to the opening,
all their employees
wore a smile, had this spark and exuded compassion
after all the hardship that they'd gone through in life,
and that moved me.
- After that incident, you started some sort of... - Yes.
One thing that was completely in our control
was how we could give them employment.
We made a mandate that 5% of our workforce has to be...
How do we make sure that we hire the specially-abled?
- Across Adani Group? - Across Adani.
Lovely. How many employees do you have?
We have 45,000 employees.
- Across Adani Group? - Yes.
- Currently, 5%... - So...
- We have not reached 5% yet. - But you're on the way.
- Yes, but we have... - Amazing.
We're 10x than what we were...
This is really very inspiring.
The other thing was,
how do we increase awareness about this?
We all believe that we have to be an inclusive India,
but we have to start at home.
So, we launched something called GreenX Talks...
- GreenX Talks! Very interesting. - Exactly.
Which is centred around superheroes.
People like Arunima for example.
Just sharing their life experiences and their stories
after going through so much hardship
and then being able to achieve something so extraordinary
that average people like us can't do...
And this is something we livestream to our entire workforce.
You just subconsciously plant that seed in your head.
- "Don't think of them as different. Think of them as special." - Yes.
They've weathered through...
Like they say a metal when exposed to heat, makes it stronger.
- Hardships make one stronger. - Precisely.
Yes, that's right.
Even on Shark Tank,
a lot of founders are making products for the differently-abled.
Did you watch the episode where Prathamesh Sinha had come?
A 10-year-old boy.
- The company was called Thinkerbell. - Yes.
- Their product was Annie. - Correct.
- They were teaching kids to learn Braille on their own. - Yes.
'If we listen to WHO,'
'1 out of every 1000 children needs what we make.'
'Annie is the world's first self-learning'
'remote-enabled Braille literacy device.'
'In mainstream regular schools too,'
'visually-impaired children are able to read without any problem.'
'Here to give a demo of Annie'
'is a very special guest Prathamesh Sinha.'
'Annie isn't just a smart Braille learning device to me'
'but my best friend and companion too.'
'With its help, I can learn reading, typing, writing'
'and vocabulary.'
He had inspired the entire country.
- Unbelievable. - It was...
People fell in love with that boy.
We were quite surprised to see
how this one guy was able to hold the attention
of the country for that episode.
Anupam, that's the power of Shark Tank.
Jeet, you spoke about real superheroes.
You're doing what you can,
but how can the broader Indian entrepreneurial ecosystem?
What do you think we could do
to take this idea even further?
Entrepreneurship and social impact go hand in hand.
Take any start-up today
like Swiggy or a newcomer
who's starting this year or started last year.
All small businesses.
Some of the people who come and pitch to you.
Everyone has a social impact
because business, at the end of the day,
is touching people and lives.
What really helps is the mindset.
What do we do in entrepreneurship today?
We look for a problem, identify it and try to find a solution.
- If the solution is good, we become successful. - Right.
If we use the same mindset in the field of disability,
I think we have...
And clearly, there have been so many examples.
But the more we push it, the more we know...
We just have to reinforce that this has success too.
I think the only thing it needs is patient capital.
It is something which will take time,
but the impact will be real and on ground.
There should be some sort of movement
where we can fund the differently-challenged
and the differently-abled,
or should we bring products into the market
or do what you did? Reserve 5%.
What do you think will have the most impact?
I think the most impactful would be
- supporting by funding them, not as charity... - Yes.
As a genuine business, you fund them.
The tougher part is identifying
and inspiring people to start this
and look at this problem too.
This is your favourite show.
Also, it is now your favourite cause
- to support the differently-abled. - Yes.
How do we bring the favourite show as well as cause together then?
I think it'd be interesting to do an episode
only centred around
what we can do for differently-abled entrepreneurs
as well as entrepreneurs working for the differently-abled.
- Like a special episode? - Yes.
Wonderful idea.
Your company has a tagline.
We Make It Possible.
- Is that right? - Yes.
If you want to do this,
there is only one condition, not a challenge I'd say.
- You'll have to come. - Done.
- If you accept... Done? - Done.
- All right, fantastic. - [laughs]
You'll come as a Shark or you'll come as a...
What will you come as?
I'll come as whatever you say.
Jeet has agreed to come on Shark Tank.
He's agreed that he'll come as whatever I say.
So, I think he should be a Shark.
- Then you'll take all the deals. What will we do? - [laughs]
That could be a problem.
And you're so passionate about it, you might end up funding them all.
I don't want more competition.
- I have a suggestion. - Please.
You come as a mentor and guide
because you're doing such a lot.
I don't think you should be sitting on a chair
just being a Shark.
I think you can shape the direction of that episode
- and the founders who come there. - Sure.
Absolutely, it'll be my pleasure.
The question remains, when will we do it?
- You're getting married. - Yes.
- When is it? - 7 February.
Do it before marriage
- because then she can say, she also married a star. - Shark.
Married a Shark.
Yes. A TV star, exactly.
- I think it'd be better if you did it before. - Yes.
Since we're talking about marriage, how did you meet your to-be?
- I actually met her through a family friend. - Okay.
Was that family friend Shaadi.com?
No, it wasn't.
- You've already lost. - That...
There is a story.
- In middle school, in grade seven or eight... - Yes.
You know how boys are.
We were just messing around and pranking each other.
So, one of my friends has...
If you go on your website,
there is a profile for Jeet Adani set up.
- No way. - I have no idea
who has the email, which phone number is... But it's there.
I've been trying my level best to delete that profile.
I'm getting married and I have a profile on Shaadi.com.
So, that is my request to you.
- Please. - I'll delete the profile,
but first, let's tell them the real story.
- What's your fiancée's name? - Diva.
I think Jeet made the profile himself
and now, he's pinning it on his friends.
And then, he was fortunate and lucky to meet Diva
- but he forgot to delete his profile. - Yes.
[both laugh]
He's asking me to delete it on TV. It'll be done.
- There's no running from this. - Exactly.
You're coming on Shark Tank too.
So, this will be the second condition.
- I'll take down your profile after you come. - Done.
- Done, sir. - All right.
- This is great. - Thank you.
So, guys, as you can see,
Jeet and I can continue talking forever.
The fun will continue
but let's leave
some things for the special episode of Shark Tank India.
As he has promised to be there,
we'll talk about a lot of things.
Thank you for inspiring us
with this wonderful cause of yours.
More power to you. Keep it up.
Join us, let's make this bigger.
- Thank you so much. - Thank you.
A big salute!
[theme music playing]
Sharks, what is happiness?
We were struggling to find the answer to that.
In the quest for the answer,
seven years ago, we let go
of our house, jobs and our people
to settle down in the Nilgiri hills,
hoping to find what we were looking for.
We didn't find an answer in the hills.
But we found a purpose.
The women of the indigenous communities
we were living with
didn't have a steady source of income.
Hence, we merged our craft skills with their labour skills
and made The Good Doll.
After some time passed, we realised
that you can find happiness
in your purpose.
- Namaste, Sharks. I am Suhas. - I am Sunita.
They want to play with those.
But those dolls don't look like us.
It is setting up an unrealistic beauty standard
in the minds of our Indian children.
It negatively impacts
our children's psychology
as well as our environment.
Around 90 per cent of the toy industry uses plastic,
which ends up in landfills.
These dolls are made of upcycled fabrics.
They are also known as rag dolls.
That is why we believe they are good dolls.
These are good for the 32,000 children
who are playing with them.
They are also good for the 100 women who make them.
Finally, they are equally good for our planet.
Our vision for Good Doll
is to inspire our children
with an Indian character.
The number of women making them
should go up to 20,000 from 100.
To achieve that, our ask is
Rs 50 lakh for 5 per cent equity.
[mellow music playing]
- This one's for you. - Oh! How nice!
- Wow! - Thank you.
- Oh! Sugar! - This one's for you.
- How beautiful! - So cute!
Amazing!
I like that you've put the brand name on the doll.
- Very nice. - It has Sugar on it, too. - How nice!
[joyful music playing]
I am glad you've given this doll so much hair.
I think my doll's very nice.
Thank you, ma'am.
On your packaging, you've written this.
'In your hand is a piece of the blue mountains.'
Along with that, you've mentioned words like rural,
women and indigenous communities.
Very nice! I like that.
- Thank you. - Thank you.
Can you explain the concept of a rag doll?
Rag means cloth.
This cloth has to be old.
So, a doll made from household fabrics is called a rag doll.
Rag doll's philosophy is that
you can't put anything inside it which can harm the kid.
You should be able to hold and cuddle with it.
It should give a lot of comfort.
Suhas and Sunita, please tell us your story.
I was born in Mysore.
I am from West Bengal.
Both of us were born in a typical middle-class family.
We were raised alongside inadequacies.
But when we got our jobs in the corporate,
we earned a lot of money.
To fulfil the inadequacies
of our childhood,
we started walking on the path of consumerism overdrive.
We thought it would make us happy.
After 13 to 15 years, we realised it wasn't making us happy.
That's when we decided
to resign and leave the city.
That's when we shifted to the Nilgiris.
Please tell us where you worked during your corporate life.
I've worked with two banks,
Bank of America and Wells Fargo Bank.
I was in HR.
My last company was Shell.
I was their Head of Recruitment for India.
I was working in Accenture.
Being in BPO, I used to handle operations.
Was there a turning point in your life?
It was a long process.
We had been doing the same work for 12 years in the city.
We were not growing as human beings.
We also had a young son.
He's not young anymore. He was 10 years old then. He's 17 now.
I wanted him to experience life.
To experience life,
we must leave the cocoon we built for ourselves in the city.
So, we chose to live off the grid
in the Nilgiris.
We built our home with our hands.
Nobody lived within a radius of 3 kilometres of our house.
The nearest village was 3 kilometres away.
We were growing our food. We would harvest water from the streams.
We harvested electricity using solar energy.
Many elephants, bears, etc, would live around us.
We were also surrounded by those indigenous people.
We were living that life.
We lived like that for two years,
all three of us.
- What's that? - Is that the house you built?
- Yes. - You've constructed this house.
- We built it ourselves. - Did you paint it, as well?
- I am merely asking. - Yes.
- Really? - That's how houses are painted there.
What was your takeaway after living like that
for two years?
Sir, we left planning
when we moved here.
We had a mutual understanding
of not planning a lot.
We wanted to live off the grid.
We wanted to spend time with each other
and look inwards
to see what makes us happy.
It was an experiment of sorts.
But who among you wanted to go?
It was Sunita's ideation and my execution.
What was your reaction when she told you about it first?
- He called me crazy. - Did he say that?
Yes.
The first thing that came to me was typical.
- What? - What will my parents say?
- Correct. - What will my friends say?
- How long did you take to convince him? - Two months.
- Not bad! - Not bad! - You must've threatened to leave.
- 'I am leaving.' Did you say that? - Did you give an ultimatum?
Not really, but she's demanding.
Wow! You could've designed your clothes. Why did you wear this?
- I am a Master Tailor. - Oh, my!
- Wow! - When we started working,
I was already a professional quilter.
I started teaching quilting.
Reaching this point has been a journey.
Good Doll didn't appear through thin air.
It took a lot of time.
- Before that... - Suhas, you're amazing.
All credit goes to him.
You're giving him the credit when I deserve it more.
Oh!
- Good one! - Well done, Sunita! - Stand up for your rights.
A woman who speaks her mind!
A man who understands the other guy!
Maya Angelou says, 'One woman stands up!'
'She stands up for a very large group of women.'
- Amazing! - Nice! Super!
On that note, I have a question. Don't you have male dolls?
- They have male dolls. - Yes. We've got it.
When we started making dolls,
the genders were equally divided.
However, our audience showed us
that 80 per cent of female dolls were sold,
as compared to 20 per cent male dolls.
That's why it decreased.
The colour inclusivity
was equally divided between dark or tanned skin
and light-skinned.
But the market pushed us
- to making only 15 per cent of dark dolls. - Oh, my God!
- In fact, nobody buys dark dolls in Mumbai. - Really?
They tell us to avoid bringing dark dolls.
I understand dolls. What are Hanimals and Nilah?
Nilah is our new trending doll.
We belong to Nilgiri.
It is also called the Blue Mountain.
It is called that because
a blue flower called 'kurinji' blooms once every 12 years.
That covers the entire mountain blue.
So, Nilah was born that year.
Thus, her parents named her Nilah. She is a mountain girl.
Tell me the biggest Indian doll.
- There is no Indian doll right now. - None.
Our competitor is Barbie.
Is Barbie 90 per cent of the market?
- 99 per cent. It's either Barbie or her look alike. - Yeah.
When we launched these in the market,
everyone started calling us Indian Barbie.
- Tell us Hanimal's story. - Sure.
80 per cent of Nilgiris is a forest.
Many animals in the forest are Nilah's friends.
We didn't want to show them as animals.
We wanted to clothe the animals, as well,
because children's imagination tends to go wild.
That is why we came up with Hanimals.
Also, from a production standpoint,
it helps us standardise
- because all the 12-inch dolls are the same. - Same bodies!
- The bodies are the same. - Yes.
That's how we can control the SKUs
- when it comes to garments. - So, that was the idea.
Garments are our core.
What is the price of this?
The one you're holding is worth Rs 650.
What is the price of her clothes? If I have to buy this dress,
- how much will it be worth? - That dress comes with a bag.
That costs Rs 450.
- What are the sizes of your dolls? - Three.
- 12 inches, 9 inches, and? - 12 inches, 9 inches, 7 inches.
We incorporated it towards the end of 2021.
We earned Rs 6.5 lakhs.
Is this FY 2022 or FY 2023?
FY 2022.
Then, we earned Rs 17.5 lakhs in FY 2023.
In FY 2024, we earned Rs 70 lakhs.
This year, we've earned Rs 50 lakhs so far.
What is your projection for the year, Suhas?
Rs 1.2 crores to Rs 1.5 crores.
Where do you sell these?
We're selling them in around 50 stores.
Are these toy stores?
Concept and lifestyle stores.
You don't sell online.
We are in some online marketplaces
Like Amazon? We're not there
because Amazon has a different customer segment.
We have to make a separate range for them.
Why? The cost is not too high. Right?
No, the size...
List it there. Who knows? People might buy it.
- We have listed it on Amazon. - It didn't get sold.
Unless you do performance marketing, Amazon doesn't start
- the sales. - How much do you spend on the website?
We don't spend anything on the website.
Only returning customers visit the website.
Is this a profitable business?
We are in negative right now.
So far, we have burnt Rs 13 lakhs
for the 50 lakhs that we have.
How much was it last year?
The burn was Rs 6 lakhs.
- Before that? - It was Rs 22 lakhs.
- We have also given a raise. - Oh! You've raised. - Tell us that.
Wow!
In 2022, Mr Nithin from Zerodha
was the first to give us money.
- How much did Nithin invest? - Rs 40 lakhs.
- What was the valuation? - Rs 3 crores.
After that, our friends and family lent us Rs 25 lakhs
at 5 per cent and 1 per cent.
Recently, the Villgro Foundation
gave us Rs 35 lakhs as a convertible.
We also raised an equity-linked grant from the government.
The Tamil Nadu government took
3 per cent for a grant of Rs 15 lakhs.
Sir, the ones we are doing this for...
- That makes you happy. - Immensely!
How much do the women earn from this?
Anywhere between Rs 8,000 to Rs 20,000.
But you're running a business now. You might have a business plan now.
For the business, yes.
What is your plan?
- It's also an inspiring story. - Thank you so much.
Full credit to you. I'm a big fan.
I believe it is a good business.
is to help artisans, girls and women, in these villages.
Thus, you might not be able to give it an acceleration.
There is a limiting factor here
in the number of dolls you can make and their demand.
You have to go through a discovery process
to scale up this business.
I cannot see how it will scale up.
That doesn't mean something is wrong with your purpose
or your progress.
However, as an investor, my expectations
of any business are different.
But if you need any help,
- reach out to me. I'd love to help you. - Sure.
- Today, I am out. - Thank you. - Thank you so much.
Suhas
and Sunita,
In my opinion, you're trying to do
three things together, and it's too much.
But this,
with inclusivity and women empowerment,
might not work together.
If this doll is too different
than the one I am playing with,
it might not be able to scale online.
If it doesn't scale online,
you cannot provide employment to 20,000 women.
So, from these three,
- I feel you might have to choose two battles.
- Okay. - One battle.
If you try to do all three,
you may not be able to fulfil the vision of reaching 20,000 women.
That is evident in your numbers.
We will face immense loss at this scale
as it hasn't reached Rs 10 lakhs monthly.
It isn't investible for me at this moment. However, best of luck.
- Thank you. - Thank you.
I think you need to make a story
to make this a scalable brand.
Only distribution and sales won't make it a brand.
You have to create content.
You need a story
around Nilah.
- That will be a heroine character. - Right.
- Not hero product! It will be your heroine product. - Yes.
- That is a long-term journey. - Yes.
At this point, it's not an investible business.
The simple reason is that the scale is too small,
and your ask of Rs 10 crores is too high.
As an investor, I don't think this business is for me right now.
- It's too early. So, I'm out. - Thank you.
Suhas and Sunita, I genuinely like you both.
- I enjoyed meeting you. - Thank you.
It could be like a grant,
or a foundation. Companies invest in those, and so do I.
But as a Shark over here,
I cannot expect returns from this.
Keep doing good work.
Thank you. I will be out, but I wish you all the best.
Your work towards the Indian doll
is a massive business opportunity.
I've not added your impact perspective to it yet.
That is a multiplier, according to me.
But that said, there are some challenges, too.
You need to be commercially savvy for the distribution.
- Have you heard about Fabindia? - Yes.
Fabindia began
- with the purpose of helping local craftsmen. - Okay.
But when they had to scale up,
they, too, had to open stores
At the end of the day, commercial decisions come up
when investors join you.
That risk is real when you journey towards Rs 10 crores.
I genuinely wanted to support you in some way.
But as I have to judge you based on your business here,
unfortunately, I am out.
- I wish you all the best. - Thank you. - Thank you so much.
- Bye. - Most welcome.
Bye, see you.
- Many best wishes. - Good luck. - Thank you.
Thank you so much.
Our work has a social impact.
So, its scalability is different
compared to what Sharks are used to.
But their feedback was positive.
We've journeyed till here from point zero.
We will journey till there, too.
But like they said, it's a different path,
which we appreciate.
Hello, Sunita and Suhas.
- How are you? - Great!
We felt good.
- All the Sharks were encouraging. - Yes.
They motivated us to continue our work.
Because I am so motivated and inspired
by what you are doing, I want you to keep doing it.
It takes a lot of energy to do such important work
and to keep your energy levels up, I thought I would get you a gift.
So I opened Swiggy Instamart and ordered some gifts.
And look, they are here in 10 minutes.
Thank you so much!
Inside it are energy drinks and dark chocolate bars for you.
So feel good. You should feel energised now.
Thank you so much!
And your dolls are really cute!
- Thank you! - Really.
In our house, dolls' heads were found lying separately.
Have you seen how they used to be?
When you looked, they would stare at you.
But yours are so cute that I feel like educating them
and making them officers. Right?
But thank you so much for coming.
Friends, you too should increase your energy,
improve it and use it for good things.
If you need anything, then order from Swiggy Instamart.
Everything is available there
and arrives in 10 minutes. Order now.
Jaquar presents Bringing Good Ideas To Life.
Shark Tank India witnessed a new wave of entrepreneurs.
Entrepreneurs who are setting new trends with their ideas
and solving big challenges.
Some are busy organising their industries
and some are creating new categories and opportunities.
Just like our Sharks.
You don't remember? No problem. Let's see it now.
[upbeat music]
Gabru Di Chaap is India's first premium Soya Chaap QSR chain
that wants to give Soya Chaap a new identity.
MetaShot is a mixed-reality smart bat.
With this bat, you can play cricket
by connecting from your home to any corner of the world.
Awesome shot!
Naturik, India's tastiest and healthiest
Desi breakfast brand.
Actually, the sprouts are very tasty.
Dilkash Mughlai Chaap is really yummy.
Very tasty!
Sonic Lambs are powered by our patented impulse drivers
which converts audio signals into physical impulses.
This allows you to not just hear the music
but also makes you feel it.
- It's good! - There is a feel. All right.
EM5 is a perfume brand that provides consumers
with high-quality luxury fragrances at very affordable rates.
- We are running at a monthly run rate of Rs 1.7 crore. - Amazing!
- The fragrance is nice. - I also liked it, man.
Sir, this is the viral video of our Chaff Cutter
with 4.5 million views on YouTube.
1.1 thousand. 1.1... 347 thousand.
Oh, boy!
4.5 million! 45 lakhs!
You turned out to be a hero, sir.
This has the potential to be a global product with a global brand.
Well, I don't think you, yourself, know what you've created.
You're a fighter, you are daring and your sales are excellent.
So huge respect. I salute you heartily.
All the pitchers proved one thing.
Proudly made in India for the world. Just like Jaquar.
Hello and welcome to Ask The Shark. The Shark with us today
is the co-founder of Snapdeal and Titan Capital
He is 28 years old and is from Panchkula.
- So I've invested in approximately 20 companies every year. - Hmm.
Whenever we invest in a company, we meet that company
- every month for the first 6 months. - Okay.
After that, when the company's way of working gets a bit set,
their trajectory becomes a bit clear,
and then we meet them once a quarter.
We'll meet again on Ask The Shark
with a new Shark and a new question.