1 00:00:29,720 --> 00:00:32,160 [music playing] 2 00:00:46,520 --> 00:00:49,360 [theme music playing] 3 00:00:52,880 --> 00:00:56,960 [theme music playing] 4 00:01:20,440 --> 00:01:23,160 Sharks, March 2021, 5 00:01:23,240 --> 00:01:27,560 SKY, Suryakumar Yadav, International Debut, 6 00:01:27,880 --> 00:01:32,120 First Ball, Jofra Archer, six! 7 00:01:32,360 --> 00:01:33,720 Who does this? 8 00:01:34,240 --> 00:01:36,480 After a year, T20 World Cup, 9 00:01:36,560 --> 00:01:39,200 India and Pakistan, MCG, 10 00:01:39,480 --> 00:01:42,840 - Virat's iconic shot of the century. - This. 11 00:01:43,440 --> 00:01:47,520 That effortless, not-so-straight, straight drive. 12 00:01:48,320 --> 00:01:49,760 There were goosebumps. 13 00:01:49,840 --> 00:01:52,080 For us, these are effortless shots, 14 00:01:52,160 --> 00:01:55,760 but for that players must've put a lot of effort in the back end. 15 00:01:55,960 --> 00:01:58,240 By getting inspired by these shots, 16 00:01:58,400 --> 00:02:01,720 millions of players work hard 17 00:02:01,960 --> 00:02:03,480 to improve their craft. 18 00:02:03,560 --> 00:02:05,360 But is the hard work enough? 19 00:02:05,440 --> 00:02:06,840 It isn't enough. 20 00:02:06,960 --> 00:02:09,600 Hard work without data, no point. 21 00:02:09,840 --> 00:02:12,960 What you cannot measure, you cannot improve. 22 00:02:13,440 --> 00:02:17,080 Sharks, cricket has evolved a lot over time. 23 00:02:17,160 --> 00:02:19,360 There have been changes in the format. 24 00:02:19,440 --> 00:02:22,920 But even today, there isn't a tool 25 00:02:23,000 --> 00:02:26,240 that can provide an objective measurement and analysis 26 00:02:26,360 --> 00:02:30,360 of your cricket or sports skills. 27 00:02:30,520 --> 00:02:32,560 Rahul, but not anymore. 28 00:02:32,680 --> 00:02:36,920 Because we bring to you with Str8bat, your bat buddy. 29 00:02:46,160 --> 00:02:48,960 Str8bat is a deep-tech company in the sports industry. 30 00:02:49,120 --> 00:02:51,480 And cricket is our first use case. 31 00:02:55,200 --> 00:02:56,880 ...which can turn 32 00:02:57,040 --> 00:03:00,240 any bat into a smart bat. 33 00:03:06,120 --> 00:03:09,320 - Cool. - This is a patented technology. 34 00:03:28,800 --> 00:03:30,800 ...increasing his bat speed by 21% 35 00:03:30,920 --> 00:03:33,560 ...and impact speed by 27%. 36 00:03:33,640 --> 00:03:35,640 That's the power of Str8bat. 37 00:03:35,920 --> 00:03:38,920 It makes players better, faster. 38 00:03:39,560 --> 00:03:41,080 And that's not where we've stopped. 39 00:03:41,560 --> 00:03:45,560 We've collaborated with a top brand and created Smart Willow, 40 00:03:45,640 --> 00:03:49,080 where our technology is integrated into the bat. 41 00:03:53,360 --> 00:03:57,240 ...there are thousands of players using Str8bat. 42 00:03:57,720 --> 00:03:59,720 91% of players 43 00:03:59,800 --> 00:04:02,680 have improved their batting with Str8bat technology. 44 00:04:07,640 --> 00:04:09,840 but to democratise sports as a whole. 45 00:04:10,000 --> 00:04:13,200 Sharks, we want to invite you on this journey. 46 00:04:13,360 --> 00:04:17,200 Our ask is Rs. 1.5 crores for 1% equity. 47 00:04:24,760 --> 00:04:27,840 Wow, very nice! Madhusudan, Gagan and Rahul, 48 00:04:36,640 --> 00:04:37,640 Okay, what about you, sir? 49 00:04:37,680 --> 00:04:39,440 I am an endurance athlete. 50 00:04:39,760 --> 00:04:42,000 I participate in Triathlon, Ironman, 51 00:04:42,080 --> 00:04:44,760 and I am a long-distance open water swimmer. 52 00:04:44,840 --> 00:04:48,680 I haven't played cricket much, but I've played tennis ball cricket. 53 00:04:48,840 --> 00:04:52,360 I completed my engineering in Bengaluru. I am from Kolkata. 54 00:04:52,520 --> 00:04:54,400 I started as a tech geek, became an architect 55 00:04:54,520 --> 00:04:55,680 and wanted to understand the business better. 56 00:04:55,680 --> 00:04:59,080 So, I joined INSEAD Business School for an executive program 57 00:05:04,400 --> 00:05:08,320 The sports industry is an industry that only has lagging indicators. 58 00:05:08,520 --> 00:05:10,680 How many runs, 59 00:05:10,800 --> 00:05:13,520 goals, or aces you've made, there are no leading indicators 60 00:05:13,600 --> 00:05:15,760 which tells you that you can perform better. 61 00:05:15,840 --> 00:05:16,760 That was the whole thought. 62 00:05:16,840 --> 00:05:18,040 Sir, could you give us a demo? 63 00:05:18,080 --> 00:05:20,800 This is how it works. 64 00:05:20,960 --> 00:05:23,280 It connects with 65 00:05:23,360 --> 00:05:26,040 a smartwatch or a boAt watch automatically. 66 00:05:26,120 --> 00:05:28,400 What you see here is the home screen of our app. 67 00:05:28,480 --> 00:05:31,400 I would like to show you my career batting CV. 68 00:05:31,520 --> 00:05:33,680 I've played 116 sessions, 69 00:05:33,800 --> 00:05:35,760 around 2,500 shots, 70 00:05:35,840 --> 00:05:39,520 and my bat speed is 71 kmph, 71 00:05:39,600 --> 00:05:42,360 impact speed is 62 kmph. 72 00:05:43,000 --> 00:05:45,240 Timing index is 85%. 73 00:05:45,320 --> 00:05:47,440 And sweetspot index is 47%. 74 00:05:47,520 --> 00:05:49,360 Sweetspot is what we measure 75 00:05:49,480 --> 00:05:51,840 by the look and the feel of middling the ball. 76 00:05:52,080 --> 00:05:53,880 We put an objective number to this. 77 00:05:53,960 --> 00:05:56,520 What is my bat lift? 40 degrees. 78 00:05:56,600 --> 00:06:00,240 A 4-degree shift in bat lift angle improved. It's crucial. 79 00:06:00,480 --> 00:06:01,960 These are the metrics. 80 00:06:02,200 --> 00:06:05,200 It's me versus the world average, versus the pros. 81 00:06:10,720 --> 00:06:12,760 so we can benchmark their data with yours 82 00:06:12,920 --> 00:06:15,720 - and we can give you a target. This is your target. - Okay. 83 00:06:16,000 --> 00:06:18,320 Across different metrics. 84 00:06:19,160 --> 00:06:22,880 We capture motion without cameras. This is what we do. 85 00:06:23,280 --> 00:06:24,480 For every shot, 86 00:06:24,520 --> 00:06:26,560 we recreate the entire motion 87 00:06:26,920 --> 00:06:27,960 without any cameras. 88 00:06:28,040 --> 00:06:30,360 - Our first patent has been granted for this - Wow! 89 00:06:33,280 --> 00:06:34,400 We would love to, actually! 90 00:06:36,320 --> 00:06:38,200 I am ready for the game. 91 00:06:38,680 --> 00:06:39,680 We will play an over. 92 00:06:39,720 --> 00:06:41,880 Rahul will capture your data on a tablet. 93 00:06:41,960 --> 00:06:44,000 Let's try and do a bat speed challenge. 94 00:06:44,120 --> 00:06:46,200 - Aman, do you want to go first? This way. - Yeah! 95 00:06:46,280 --> 00:06:47,760 - All right! - I was always like this. 96 00:06:50,840 --> 00:06:53,400 Aman, the bat is currently turned off. 97 00:06:53,560 --> 00:06:56,800 You have to swirl it and turn it on. 98 00:06:57,080 --> 00:06:58,560 - Is that how you turn it in? - Yes. 99 00:06:58,680 --> 00:07:01,240 - Oh, that's very nice. - You need to do one more thing. 100 00:07:01,680 --> 00:07:02,840 - Now you... - What does this do? 101 00:07:02,880 --> 00:07:05,960 We calibrated it. It's crucial for it to know 102 00:07:06,040 --> 00:07:08,560 where the bowler is and what the direction of the pitch is. 103 00:07:08,920 --> 00:07:12,520 This calibration understands its surroundings. 104 00:07:12,600 --> 00:07:14,360 - Does it have sensors? - Yes. 105 00:07:14,440 --> 00:07:16,320 - It has a sensor. - It has motion sensors. 106 00:07:16,400 --> 00:07:17,440 - And... - This is where it is. 107 00:07:17,440 --> 00:07:19,400 - That's very nice. Very advanced. - The green light turns on. 108 00:07:19,440 --> 00:07:22,200 - You may play now. - Now you are ready to play. 109 00:07:22,280 --> 00:07:24,440 [music playing] 110 00:07:26,080 --> 00:07:27,200 Whoa! 111 00:07:28,640 --> 00:07:30,000 Oh! 112 00:07:31,360 --> 00:07:32,680 Good shot! 113 00:07:34,160 --> 00:07:36,200 [music playing] 114 00:07:36,360 --> 00:07:38,120 - Oh! - Oh no! 115 00:07:38,400 --> 00:07:41,200 Aman, let's take two shadow shots. 116 00:07:41,280 --> 00:07:42,120 What is that? 117 00:07:42,240 --> 00:07:44,120 Shadow shot means you just have to swing it. 118 00:07:44,280 --> 00:07:47,440 This way we will find out how fast you can swing your bat. 119 00:07:47,520 --> 00:07:48,680 Okay. 120 00:07:50,200 --> 00:07:51,360 That's good. 121 00:07:51,520 --> 00:07:52,520 Wow! 122 00:07:52,680 --> 00:07:53,680 Good work. 123 00:07:55,720 --> 00:07:56,600 I loved it! 124 00:07:56,680 --> 00:07:58,880 - Did you see that shot? It was good. - Thanks, Aman. Yes. 125 00:07:58,880 --> 00:08:00,960 Despite it being a leg spinner. 126 00:08:01,120 --> 00:08:03,080 They will show you how good you are. 127 00:08:03,720 --> 00:08:06,040 [music playing] 128 00:08:08,640 --> 00:08:11,160 - Good shot! - Ritesh, power! 129 00:08:13,040 --> 00:08:14,400 Oh, nice! 130 00:08:15,000 --> 00:08:18,120 Ritesh, let's do two shadow shots. 131 00:08:18,880 --> 00:08:21,000 - Let's go! - One, two... 132 00:08:22,000 --> 00:08:24,160 - Good one! - Nice. 133 00:08:26,360 --> 00:08:27,680 - Good shot! - Nice! 134 00:08:28,560 --> 00:08:29,840 Let's compare scores. 135 00:08:31,960 --> 00:08:33,960 [music playing] 136 00:08:35,520 --> 00:08:40,200 Aman, your average bat speed of the session 137 00:08:41,040 --> 00:08:42,920 was 49 kmph. 138 00:08:44,360 --> 00:08:47,440 And Ritesh, your average speed 139 00:08:48,400 --> 00:08:51,800 - was 62 kmph. - Oh no! You lost a deal. 140 00:08:51,880 --> 00:08:55,760 And Aman, your shadow shots were... 141 00:08:55,880 --> 00:08:59,360 Your maximum speed was 75 kmph, 142 00:08:59,440 --> 00:09:01,640 when you tried to hit a sixer. 143 00:09:01,720 --> 00:09:05,600 - It accurately depicted the shot I hit. - Yes. 144 00:09:05,680 --> 00:09:07,160 - That's very good. - Same. 145 00:09:07,320 --> 00:09:11,040 Also, if I look at Ritesh's statistics, 146 00:09:11,280 --> 00:09:14,840 when he tried a cover drive, 147 00:09:15,040 --> 00:09:17,920 his impact speed was 61, 148 00:09:18,000 --> 00:09:19,600 68 was his total swing 149 00:09:19,680 --> 00:09:21,640 and 90% timing index. 150 00:09:21,880 --> 00:09:25,160 His bat comes between the first slip and the second slip. 151 00:09:26,040 --> 00:09:27,800 His shot was great. 152 00:09:27,880 --> 00:09:30,440 - At 97 kmph? - Oh! Whoa! 153 00:09:30,520 --> 00:09:32,600 And 92 kmph. 154 00:09:32,760 --> 00:09:35,160 - So, 75 versus 92. - 92. 155 00:09:35,240 --> 00:09:37,120 To 49 versus 62. 156 00:09:37,280 --> 00:09:38,920 So, we have a clear winner. 157 00:09:39,960 --> 00:09:41,800 - No! - But it also depends on the ball. 158 00:09:41,920 --> 00:09:43,400 - Oh! - I said something wrong. 159 00:09:43,520 --> 00:09:46,400 If the ball is slow and you hit fast, it makes no sense. 160 00:09:47,720 --> 00:09:49,600 Now, this is mostly for power hitters 161 00:09:56,440 --> 00:09:58,840 Yours was 75 and his was 91. 162 00:09:58,960 --> 00:10:01,400 Let's assume that he was hitting the ball. 163 00:10:01,480 --> 00:10:04,080 And your impact speed was 75. 164 00:10:04,160 --> 00:10:05,760 The bat speed was also 75. 165 00:10:05,840 --> 00:10:07,560 With Ritesh, let's assume 166 00:10:07,720 --> 00:10:10,480 it was 91, but the impact speed was 75. 167 00:10:11,200 --> 00:10:13,600 91, 75 and 75, 75. 168 00:10:14,080 --> 00:10:16,320 Your ball will cover a longer distance 169 00:10:18,560 --> 00:10:20,400 - with more consistency. - Yes. 170 00:10:20,480 --> 00:10:22,960 Simply because, at the point of impact, 171 00:10:23,040 --> 00:10:25,080 you've directed your power into the ball. 172 00:10:25,280 --> 00:10:26,560 - I was telling you. - There is stability. 173 00:10:26,600 --> 00:10:29,600 They were just looking at the number. It's not necessary. 174 00:10:31,360 --> 00:10:34,200 Let me tell you that IPL Team Rajasthan Royals, 175 00:10:34,280 --> 00:10:36,080 have been using Str8bat 176 00:10:41,080 --> 00:10:44,640 can see one of their players is playing well through this app, 177 00:10:44,920 --> 00:10:47,320 can they find team members also? 178 00:10:47,440 --> 00:10:50,680 In trials, everyone plays with Str8bat. 179 00:10:50,760 --> 00:10:53,160 After that, if you bid for me, 180 00:10:53,240 --> 00:10:55,520 you will have my data. 181 00:10:55,600 --> 00:10:58,160 Based on which you will bid for me. 182 00:10:58,320 --> 00:10:59,960 - Okay! - In fact, I can quote 183 00:11:00,040 --> 00:11:02,840 a senior person from Rajasthan Royals, 184 00:11:02,920 --> 00:11:05,960 'What started off as a technology experiment' 185 00:11:06,040 --> 00:11:09,320 'is our way of finding our next superstar player.' 186 00:11:09,400 --> 00:11:10,440 Nice. 187 00:11:11,320 --> 00:11:13,280 Are you trying to say 188 00:11:13,360 --> 00:11:15,160 that you have improved the performance 189 00:11:15,240 --> 00:11:18,640 {\an8}of a team like Rajasthan Royals by sharing data analytics? 190 00:11:18,720 --> 00:11:20,400 - Some of them, yes. - Yes? 191 00:11:20,840 --> 00:11:25,120 {\an8}This year, you must've seen that they chose a 13-year-old boy. 192 00:11:25,200 --> 00:11:27,200 They specifically stated, 193 00:11:27,320 --> 00:11:28,680 'He was at our trials...' 194 00:11:28,760 --> 00:11:29,600 He hit three sixes in three balls. 195 00:11:29,680 --> 00:11:33,040 'We bid on him because we found his data interesting.' 196 00:11:33,280 --> 00:11:34,880 Did you have his data? 197 00:11:35,440 --> 00:11:37,920 Unfortunately, I can't share that with you. 198 00:11:38,000 --> 00:11:42,160 - Why? - Okay! There is a 'yes' in your 'no'. That's fine. 199 00:11:42,720 --> 00:11:45,040 So, your core customers are athletes. 200 00:11:45,120 --> 00:11:47,000 It is designed for pros. 201 00:11:47,120 --> 00:11:50,120 You either want to be a professional or you already are. 202 00:11:50,560 --> 00:11:52,600 We created this category. 203 00:11:52,680 --> 00:11:55,400 This category never existed. You don't know the metrics. 204 00:11:55,880 --> 00:11:59,200 Cricket Australia and Rajasthan Royals are our customers. 205 00:12:03,120 --> 00:12:04,440 Is the product effective? 206 00:12:04,520 --> 00:12:07,760 Will this metric improve the performance? We did that. 207 00:12:08,080 --> 00:12:09,280 The credibility of the game. 208 00:12:09,360 --> 00:12:12,200 But the overall vision is to democratize. 209 00:12:13,040 --> 00:12:16,160 If your customers are pros and athletes, 210 00:12:16,240 --> 00:12:20,440 means you have to create the top technology in the world. 211 00:12:20,560 --> 00:12:24,960 If your customer base consists of hobbyists like us, 212 00:12:28,720 --> 00:12:31,960 When we work with pros, it's a service package 213 00:12:47,320 --> 00:12:50,360 This is made for casual players. We... 214 00:12:50,440 --> 00:12:52,080 - Why? - How would it matter to a casual player? 215 00:12:52,120 --> 00:12:54,520 Are you doing this because you feel the market size is small? 216 00:12:54,560 --> 00:12:59,600 Players from the age of 12 to elite players 217 00:12:59,680 --> 00:13:01,880 are our customers. 218 00:13:01,960 --> 00:13:05,080 But what we do is, we provide that technology 219 00:13:05,160 --> 00:13:06,800 to everyone. 220 00:13:06,880 --> 00:13:08,200 Our answer is 221 00:13:08,280 --> 00:13:11,240 democratisation of technology in sports. 222 00:13:16,680 --> 00:13:18,960 We started in March 2017. 223 00:13:19,040 --> 00:13:21,840 Our first customer was in November 2017. 224 00:13:21,920 --> 00:13:23,520 Did you make a product in six months? 225 00:13:23,640 --> 00:13:25,400 Our belief is that 226 00:13:25,560 --> 00:13:29,040 if we are not embarrassed by our first prototype or product, 227 00:13:29,160 --> 00:13:30,160 then we are too late. 228 00:13:30,480 --> 00:13:32,840 We believe in an iterative model. 229 00:13:33,000 --> 00:13:34,640 This is Mark Anderson's quote. 230 00:13:35,960 --> 00:13:38,400 Yes! And Eric Reeves' too. 231 00:13:38,640 --> 00:13:41,440 - And... - You've read up on quotes. 232 00:13:41,560 --> 00:13:43,560 Let's focus on the numbers. 233 00:13:43,680 --> 00:13:46,200 Let's discuss the numbers for the last three years. 234 00:13:46,280 --> 00:13:48,280 Kunal, I'd appreciate it 235 00:13:48,440 --> 00:13:50,840 if you could spare 30 seconds of your time if that's alright. 236 00:13:53,920 --> 00:13:56,960 Till 2019, we didn't sell our products. 237 00:13:57,360 --> 00:13:59,760 We used to collaborate with academies, teams, and leagues, 238 00:13:59,880 --> 00:14:03,080 adapting our product to market fit, but they were paying customers 239 00:14:03,160 --> 00:14:04,640 as a service model. 240 00:14:04,880 --> 00:14:07,760 FY20-21 wasn't in our favour. 241 00:14:07,840 --> 00:14:11,080 - Due to COVID, people were not playing. - Okay. 242 00:14:12,360 --> 00:14:14,840 In 2022, this retail product that you can see over there, 243 00:14:18,880 --> 00:14:21,440 - How much revenue did you make that year? - Rs. 1.2 crores. 244 00:14:22,600 --> 00:14:23,920 And in 2024? 245 00:14:24,040 --> 00:14:25,840 The similar number in 2023 and 2024. 246 00:14:25,920 --> 00:14:26,800 Why has it been flat? 247 00:14:26,920 --> 00:14:28,600 Basically, D2C channels. 248 00:14:28,920 --> 00:14:32,720 First we realised that our go-to-market model wasn't perfect. 249 00:14:32,840 --> 00:14:35,640 This is not the way to sell this product on the D2C channel. 250 00:14:35,720 --> 00:14:39,160 Okay, we have questions about the pricing model. 251 00:14:39,400 --> 00:14:41,240 Let's finish these numbers first. 252 00:14:41,320 --> 00:14:44,000 - In FY25, how much have you sold? - Until now, 253 00:14:44,080 --> 00:14:46,160 - our revenue has been Rs. 44 lakhs. - Whoa! 254 00:14:46,280 --> 00:14:47,160 - That's it? - Again, flat. 255 00:14:47,240 --> 00:14:50,360 This month we will do around 18 lakhs. 256 00:14:50,480 --> 00:14:52,480 How much was our burn in FY23? 257 00:14:52,560 --> 00:14:53,680 Around Rs. 3.5 crores. 258 00:14:53,840 --> 00:14:55,240 How much was the burn in FY24? 259 00:14:57,400 --> 00:15:00,040 This year, in FY25, how much is our burn? 260 00:15:00,120 --> 00:15:02,640 The expense has been around Rs. 45 lakhs. 261 00:15:02,720 --> 00:15:03,600 Expense? 262 00:15:03,720 --> 00:15:06,440 - Rs. 45 lakhs... - You said the revenue was Rs. 18 lakhs. 263 00:15:06,560 --> 00:15:09,520 - Yes. - How much sales were in India and in Australia? 264 00:15:09,640 --> 00:15:11,000 95% was India. 265 00:15:15,000 --> 00:15:18,040 - How? - Rubbish! From Rs. 40 lakhs to Rs. 4 crores. 266 00:15:18,240 --> 00:15:22,920 What will change that your revenue will be Rs. 4 crores this year? 267 00:15:23,000 --> 00:15:25,600 And you only have around 4 months left. 268 00:15:25,680 --> 00:15:28,400 We didn't have money to manufacture. 269 00:15:28,840 --> 00:15:31,840 We didn't have costs for raw materials to buy in bulk. 270 00:15:31,920 --> 00:15:33,560 So, we have now switched to 271 00:15:33,680 --> 00:15:37,400 big contract manufacturers in Southeast Asia, 272 00:15:37,520 --> 00:15:40,160 where the assembly line gives you a more predictable 273 00:15:40,280 --> 00:15:41,440 and much more scalable thing. 274 00:15:41,480 --> 00:15:43,240 What is the amount you have put into CapEx? 275 00:15:43,320 --> 00:15:44,480 Rs. 80 lakhs. 276 00:15:45,240 --> 00:15:47,320 If you don't have the resources, 277 00:15:47,440 --> 00:15:49,120 and the capacity isn't being used, 278 00:15:49,200 --> 00:15:53,200 then how are you burning around 300% every year? 279 00:15:53,320 --> 00:15:54,520 Where are the expenses mounting up? 280 00:15:54,560 --> 00:15:57,000 We have fixed costs. Rs. 20 lakhs is the employee cost. 281 00:15:57,080 --> 00:15:58,400 - There are 18 people in a team. - Per month? 282 00:15:58,400 --> 00:16:00,000 - Per month? - Per month. 283 00:16:01,360 --> 00:16:04,680 There is a continuous R&D happening. 284 00:16:05,200 --> 00:16:07,880 What's the pricing structure? Tell us about it. 285 00:16:08,000 --> 00:16:10,800 The black product is Rs. 6,499. 286 00:16:11,240 --> 00:16:15,200 Rs. 1,188 is subscription revenue. 287 00:16:16,120 --> 00:16:19,720 {\an8}This year, we completely pivoted our go-to-market strategy. 288 00:16:19,800 --> 00:16:24,080 We have a multi-thousand unit deal with SG. 289 00:16:24,200 --> 00:16:27,480 Where they will sell Smart Willow 290 00:16:27,760 --> 00:16:31,760 through almost 900 retailers in the country. 291 00:16:31,960 --> 00:16:34,520 We have their order book for the next three years. 292 00:16:34,600 --> 00:16:36,160 - So, that's... - What is the value? 293 00:16:36,240 --> 00:16:40,080 We've got 50,000 unit orders from them over the next three years. 294 00:16:43,840 --> 00:16:45,840 We are not comfortable sharing pricing 295 00:16:46,000 --> 00:16:49,040 for a B2B deal. Sorry, sir. 296 00:16:49,160 --> 00:16:50,680 Let's talk in percentages. 297 00:16:50,920 --> 00:16:53,680 - Okay? - There are many mathematicians in India. 298 00:16:55,480 --> 00:16:57,120 But I want to tell you 299 00:16:57,200 --> 00:17:00,520 that this number is cooked in the air. 300 00:17:00,840 --> 00:17:03,200 This contract is signed 301 00:17:03,360 --> 00:17:05,040 and it's getting delivered as we speak. 302 00:17:05,760 --> 00:17:08,080 Gagan, you said this was your idea 303 00:17:08,200 --> 00:17:09,640 while you were in INSEAD. 304 00:17:09,720 --> 00:17:11,960 So, is it fair to say that you are the CEO? 305 00:17:12,040 --> 00:17:14,000 Just tell us about all three roles 306 00:17:14,080 --> 00:17:16,160 and your equity structure. 307 00:17:16,600 --> 00:17:21,080 - Chief Operating Officer and Co-Founder, 14% equity. - Okay. 308 00:17:21,520 --> 00:17:25,320 Gagan Daga, CEO, 27% equity. 309 00:17:25,600 --> 00:17:29,520 Madhusudan, Chief Business Officer, 5.57% Equity. 310 00:17:30,200 --> 00:17:34,480 So, all three co-founders have 46.5% equity. 311 00:17:34,800 --> 00:17:36,680 Which means that the balance 312 00:17:36,760 --> 00:17:40,240 - of 53.5% is with the investors. - I can explain the... 313 00:17:40,360 --> 00:17:44,080 There are around 13%-14% in ESOPs and advisory. 314 00:17:44,240 --> 00:17:46,000 - Rest? - The rest is with investors. 315 00:17:46,400 --> 00:17:49,720 Recently in October, we raised a Series A round 316 00:17:50,120 --> 00:17:52,000 in which we diluted 22%. 317 00:17:52,080 --> 00:17:54,240 Exfinity Venture Partners led the round 318 00:17:54,680 --> 00:17:58,200 and we raised a total of 3.5 million dollars. 319 00:17:58,280 --> 00:18:00,440 - How much equity do they have? - Exfinity has 10%. 320 00:18:00,680 --> 00:18:03,160 - 10%. Who did you give 12% to? - Yes. 321 00:18:03,240 --> 00:18:06,120 After that, our investors are TRTL Ventures, 322 00:18:06,240 --> 00:18:09,880 Eternal Capital, SucSEED Indovation 323 00:18:10,280 --> 00:18:11,800 and Probo. 324 00:18:12,400 --> 00:18:16,160 From 2017 to 2024, 325 00:18:16,240 --> 00:18:19,200 we raised 1.6 million dollars 326 00:18:19,320 --> 00:18:21,480 in different angel rounds. 327 00:18:26,600 --> 00:18:29,080 Lead Angels, Techstars, 328 00:18:29,280 --> 00:18:33,160 - Cricket Australia is our investor. - Really? 329 00:18:33,320 --> 00:18:35,600 How much equity does Cricket Australia have? 330 00:18:35,680 --> 00:18:38,720 They will invest 7.5 million Australian dollars 331 00:18:38,840 --> 00:18:40,800 into marketing and branding in Australia. 332 00:18:40,960 --> 00:18:44,920 Based on users and revenue, 333 00:18:45,000 --> 00:18:46,520 they will gain equity within a year. 334 00:18:46,640 --> 00:18:48,960 So, 5.5% 335 00:18:49,040 --> 00:18:51,480 has to be vested based on value. 336 00:18:51,760 --> 00:18:55,200 It is not time-based, it is based on value created for the business. 337 00:18:55,520 --> 00:18:57,200 Greg Chappell is our investor. 338 00:18:57,480 --> 00:18:59,520 - Wow! - James Sutherland is our investor. 339 00:18:59,960 --> 00:19:00,760 Amazing! 340 00:19:00,880 --> 00:19:03,400 - The cap table has been reviewed. - It is complex. 341 00:19:03,480 --> 00:19:04,520 Very complex. 342 00:19:04,600 --> 00:19:07,280 Yeah, this is something unique to this pitch. 343 00:19:08,040 --> 00:19:10,320 You started this business seven years ago. 344 00:19:11,400 --> 00:19:13,000 Are you happy with its progress? 345 00:19:13,360 --> 00:19:14,360 No! 346 00:19:14,520 --> 00:19:15,520 Why not? 347 00:19:16,240 --> 00:19:20,000 Category creation was difficult, I knew that. 348 00:19:20,160 --> 00:19:21,520 I didn't know it was so difficult. 349 00:19:21,560 --> 00:19:26,160 But are we the lion in the market share? The answer is 'yes'. 350 00:19:27,360 --> 00:19:29,600 In our entrepreneurship 351 00:19:29,680 --> 00:19:33,200 and investor ecosystem, we always hear that hardware is challenging. 352 00:19:33,760 --> 00:19:36,240 It must've been clear to you in the seven-year journey 353 00:19:36,320 --> 00:19:37,840 why hardware is so hard. 354 00:19:38,680 --> 00:19:40,000 It takes a lot of time. 355 00:19:40,080 --> 00:19:42,200 Making the product, spreading awareness, 356 00:19:42,360 --> 00:19:45,280 and getting users to adopt it is a time-consuming process. 357 00:19:45,360 --> 00:19:47,120 Making software is also time-consuming. 358 00:19:47,200 --> 00:19:51,080 You seem to be committed to this business. 359 00:19:51,880 --> 00:19:54,880 Do you know what the difference between 360 00:19:55,320 --> 00:19:56,440 a product and a business is? 361 00:19:57,400 --> 00:19:59,640 You have solved a lot of problems. 362 00:20:00,400 --> 00:20:03,480 Now, I believe we have made a good product. 363 00:20:04,080 --> 00:20:06,120 But the business hasn't been established yet. 364 00:20:07,040 --> 00:20:10,800 It's possible that the contract might go up to 5 lakh bats instead of 50 lakhs 365 00:20:10,880 --> 00:20:12,880 with different manufacturers and OEMs. 366 00:20:14,680 --> 00:20:18,280 But currently, when we are assessing this investment, 367 00:20:19,240 --> 00:20:20,520 things are unclear. 368 00:20:21,880 --> 00:20:24,680 I am out today. But I wish you all the best. 369 00:20:24,800 --> 00:20:25,920 Thank you, sir. 370 00:20:26,000 --> 00:20:27,480 I think you've built a good product. 371 00:20:27,560 --> 00:20:30,080 And I wish you build a good business. 372 00:20:30,160 --> 00:20:31,160 Thank you so much. 373 00:20:31,200 --> 00:20:32,200 Thanks, Kunal. 374 00:20:32,640 --> 00:20:36,360 The complexity of your cap table is so much 375 00:20:36,440 --> 00:20:38,760 that as an investor, I don't see 376 00:20:38,840 --> 00:20:40,680 how I can add value beyond 377 00:20:40,760 --> 00:20:45,120 what the existing 54% of investors are already providing. 378 00:20:45,200 --> 00:20:49,000 In fact, you have Greg Chappell and Cricket Australia. 379 00:20:49,920 --> 00:20:53,920 So, I doubt I will benefit from this. 380 00:20:54,040 --> 00:20:55,920 - For that reason, I am out. - Thank you! 381 00:20:56,160 --> 00:20:58,960 You partnered with Rajasthan Royals 382 00:20:59,040 --> 00:21:00,600 and SG. 383 00:21:00,720 --> 00:21:04,440 You didn't invest in D2C marketing, but you tried. 384 00:21:04,720 --> 00:21:06,520 You partnered with Cricket Australia. 385 00:21:06,960 --> 00:21:10,480 These have a minimum potential of Rs. 20-Rs. 25 crores value addition, 386 00:21:10,880 --> 00:21:14,400 and there could even be an opportunity for a 50 crore increase. 387 00:21:14,960 --> 00:21:17,080 I felt like telling you that we would do 388 00:21:17,160 --> 00:21:20,320 the conditional deal and carry out the SG contract diligence. 389 00:21:20,480 --> 00:21:24,760 But you haven't fully cracked that one area yet. 390 00:21:25,280 --> 00:21:27,680 So, I am out. I wish you all the very best. 391 00:21:27,800 --> 00:21:29,880 - Thank you so much. - Thanks, Ritesh. 392 00:21:30,880 --> 00:21:33,320 I believe that your consumers 393 00:21:33,520 --> 00:21:36,960 are all the cricket players in India and globally. 394 00:21:37,400 --> 00:21:39,400 My issue is with the valuation. 395 00:21:40,120 --> 00:21:43,000 To give a valuation of Rs. 150 crores, 396 00:21:43,080 --> 00:21:45,840 it can't justify it with a Rs. 2.5 crore loss. 397 00:21:46,840 --> 00:21:49,800 Are you open to adjusting the valuation, 398 00:21:49,880 --> 00:21:52,600 or is a down round off the table for you? That's my question to you. 399 00:21:53,280 --> 00:21:54,680 Thank you so much. 400 00:21:54,760 --> 00:21:56,720 Unfortunately, we won't go down round. 401 00:21:59,080 --> 00:22:00,680 Very surprising. 402 00:22:16,240 --> 00:22:18,200 - We are here... - For marketing. 403 00:22:19,080 --> 00:22:20,440 We are here 404 00:22:20,800 --> 00:22:24,560 to get some of you on our side of the table. 405 00:22:24,680 --> 00:22:26,400 Doesn't look like that is your intention. 406 00:22:28,720 --> 00:22:30,240 How do I tell this? I don't know. 407 00:22:30,320 --> 00:22:32,960 - Gagan, so you want to crack a deal? - Yes. 408 00:22:33,040 --> 00:22:34,200 - Sure? - Yes. 409 00:22:34,880 --> 00:22:38,120 I think that you've made an interesting tech. 410 00:22:38,200 --> 00:22:41,120 I think it can do well. It is not yet out. 411 00:22:41,760 --> 00:22:44,240 You need to learn one thing and that is how to close a deal. 412 00:22:44,320 --> 00:22:45,640 Let's see if you've learnt that. 413 00:22:47,240 --> 00:22:48,720 I have an offer for you. 414 00:22:50,840 --> 00:22:52,000 Rs. 1.5 crores for 4%. 415 00:22:56,160 --> 00:22:57,360 Aman, thank you. 416 00:23:00,920 --> 00:23:03,000 Why did you refuse me? 417 00:23:03,080 --> 00:23:04,600 No! 418 00:23:04,720 --> 00:23:06,120 I am feeling offended. 419 00:23:06,760 --> 00:23:08,480 We will not bring the valuation down. 420 00:23:09,600 --> 00:23:11,760 In order to determine 421 00:23:11,840 --> 00:23:13,720 whether we have a deal or not, 422 00:23:13,840 --> 00:23:15,640 we need some time to think it over 423 00:23:15,760 --> 00:23:17,760 and get back to you, 424 00:23:17,840 --> 00:23:19,800 - as well as to inform Aman. - Go and think, but make it soon. 425 00:23:19,840 --> 00:23:22,200 We want to see if you are genuinely here for a deal. 426 00:23:25,080 --> 00:23:26,800 I doubt he will go below 117. 427 00:23:26,920 --> 00:23:28,560 At 117 he will say... 428 00:23:28,640 --> 00:23:32,040 - Advisory! - And say he will give 1% extra as advisory. 429 00:23:32,160 --> 00:23:34,360 His counter will be 2%. 430 00:23:34,920 --> 00:23:37,160 [music playing] 431 00:23:48,960 --> 00:23:50,280 We need help. 432 00:23:52,400 --> 00:23:56,520 At Rs. 117 crores, which is our current valuation 433 00:23:56,600 --> 00:23:58,960 of Rs. 1.5 crores up to 2.5%... 434 00:23:59,040 --> 00:24:00,040 What is 'up to'? 435 00:24:09,520 --> 00:24:10,840 - Okay! - That will be a pleasure. 436 00:24:11,040 --> 00:24:13,240 We think that there is a lot of work. 437 00:24:13,520 --> 00:24:15,280 Yeah! There is a lot of work. 438 00:24:15,720 --> 00:24:19,120 It's not only a financial deal. It's a strategic deal. 439 00:24:20,200 --> 00:24:23,000 - We want to stick to 4%. - 4%? 440 00:24:43,080 --> 00:24:44,760 Aman and Namita, deal accepted. 441 00:24:44,880 --> 00:24:46,240 [cheering] 442 00:24:46,520 --> 00:24:47,800 Good decision. 443 00:24:48,000 --> 00:24:49,360 Good decision. 444 00:24:57,880 --> 00:24:59,040 [camera shutter clicks] 445 00:24:59,960 --> 00:25:01,520 - Thank you! - Very good. 446 00:25:02,200 --> 00:25:05,440 [music playing] 447 00:25:09,640 --> 00:25:11,840 [music playing] 448 00:25:18,120 --> 00:25:19,600 Welcome to ACKO Change Makers, 449 00:25:19,680 --> 00:25:21,160 where we really welcome change. 450 00:25:21,360 --> 00:25:24,720 And we saw a beautiful portrayal of this on our change makers wall. 451 00:25:24,880 --> 00:25:28,960 With a forward-looking vision, we are bringing inclusivity in sports. 452 00:25:29,200 --> 00:25:32,880 Our today's change makers are Madhu, Gagan and Rahul. How are you? 453 00:25:33,120 --> 00:25:34,120 - Good! - Amazing! 454 00:25:38,280 --> 00:25:40,960 I think your bat sensor is revolutionary. 455 00:25:41,080 --> 00:25:42,480 With the help of this, athletes 456 00:25:42,600 --> 00:25:44,920 and passionate people 457 00:25:45,000 --> 00:25:47,480 can also improve their game. 458 00:25:47,600 --> 00:25:49,840 I want to ask a question on behalf of the audience at home. 459 00:25:49,840 --> 00:25:52,760 What adjustments can they make in their daily routine 460 00:25:52,840 --> 00:25:55,560 to better incorporate sports activities, 461 00:25:55,640 --> 00:25:57,960 technologies and smart techniques? 462 00:25:58,200 --> 00:26:02,080 For those who are into sports, 463 00:26:02,360 --> 00:26:05,120 they should focus on data. 464 00:26:05,320 --> 00:26:07,080 They should start measuring their data. 465 00:26:07,200 --> 00:26:08,800 Record the data, 466 00:26:08,880 --> 00:26:10,840 and from there, you can establish the baseline 467 00:26:10,960 --> 00:26:15,280 and then you'll be able to track whether you're making progress, 468 00:26:15,360 --> 00:26:20,080 are stationary, or if your sports performance is decreasing. 469 00:26:20,160 --> 00:26:22,720 There is one more thing, sports is something 470 00:26:22,800 --> 00:26:25,120 - that you should never quit. - Hmm! 471 00:26:25,200 --> 00:26:28,360 Because sports teach you 472 00:26:28,440 --> 00:26:31,280 to rise when you fail. 473 00:26:31,360 --> 00:26:33,640 Wow! You are bringing a great change. 474 00:26:33,720 --> 00:26:36,440 Similarly, ACKO is bringing a change to the insurance landscape 475 00:26:36,520 --> 00:26:38,080 with its revolutionary offering. 476 00:26:38,560 --> 00:26:40,240 Now, with ACKO's car insurance, 477 00:26:40,320 --> 00:26:43,400 you can claim your repairs in your preferred GST-registered garage 478 00:26:43,640 --> 00:26:45,400 or opt for a direct cash settlement. 479 00:26:45,480 --> 00:26:48,760 Also, filing a claim is easy because it's all online. 480 00:26:49,280 --> 00:26:52,560 We appreciate this change, and for your time on Shark Tank, 481 00:26:52,640 --> 00:26:55,480 we would like to offer you a gift on behalf of both Shark Tank and ACKO. 482 00:26:55,640 --> 00:26:56,840 Thank you! 483 00:26:58,240 --> 00:27:00,040 - Oh, this is nice! - Beautiful! Thank you! 484 00:27:01,320 --> 00:27:02,600 [camera shutter clicks] 485 00:27:03,360 --> 00:27:06,240 'Shark Tank India, co-presented by ACKO Insurance, 486 00:27:06,320 --> 00:27:08,440 'PokerBaazi and Swiggy Instamart.' 487 00:27:08,520 --> 00:27:11,200 'Co-powered by Adani and Jaquar Bath and Light.' 488 00:27:11,280 --> 00:27:14,280 'And partners, Rayzon Solar, ICICI Direct, ' 489 00:27:14,360 --> 00:27:16,520 'Lenskart and Sofy.' 490 00:27:17,240 --> 00:27:19,960 It's here... Oh my God! 491 00:27:21,000 --> 00:27:22,960 Hey! Another makeup brand. 492 00:27:23,080 --> 00:27:25,280 Ruby's Organics. I know this, friends. 493 00:27:25,400 --> 00:27:26,320 Do you know this company? 494 00:27:26,400 --> 00:27:28,640 Of course! They've been around for long. 495 00:27:29,120 --> 00:27:30,640 [laughing] 496 00:27:30,720 --> 00:27:34,400 You are enjoying this. Have fun! 497 00:27:38,000 --> 00:27:39,840 [theme music playing] 498 00:27:59,720 --> 00:28:04,120 Hello, Sharks! My name is Rubeina. I am from Mumbai. 499 00:28:09,000 --> 00:28:12,640 Can you see how my eyes light up when I say that word? 500 00:28:12,760 --> 00:28:16,560 But unfortunately, my love was one-sided. 501 00:28:16,640 --> 00:28:19,840 Because the makeup that I loved didn't love me back. 502 00:28:20,640 --> 00:28:23,360 After a study, I found out 503 00:28:23,440 --> 00:28:27,840 that 36.7% of females in India 504 00:28:27,920 --> 00:28:30,840 have a type of skin sensitivity, 505 00:28:30,920 --> 00:28:35,200 due to which they are unable to use a lot of cosmetics. 506 00:28:43,520 --> 00:28:46,360 It contains petrochemicals, artificial fragrances, 507 00:28:46,440 --> 00:28:49,680 hormone disruptors, and microplastics 508 00:28:49,760 --> 00:28:52,080 that can affect our health in the long term. 509 00:28:52,160 --> 00:28:56,600 Therefore, in 2017 I started Ruby's Organics. 510 00:28:57,360 --> 00:29:00,680 One of the first online D2C brands 511 00:29:26,040 --> 00:29:29,840 our products equally love them back. 512 00:29:29,920 --> 00:29:33,320 Our vision is to create clean beauty products 513 00:29:33,440 --> 00:29:35,720 that don't just make us feel better 514 00:29:35,800 --> 00:29:37,640 but are actually better. 515 00:29:37,720 --> 00:29:39,720 For that, my ask is 516 00:29:39,840 --> 00:29:43,520 Rs. 1 crore for 2.5% equity in my company. 517 00:29:48,160 --> 00:29:49,400 [chuckles] 518 00:29:49,480 --> 00:29:50,880 Ruby, welcome to Shark Tank. 519 00:29:50,920 --> 00:29:53,040 - Amazing pitch. - Thank you! It's been a dream. 520 00:29:53,160 --> 00:29:55,880 - Thank you! - Making organic, plant-based makeup 521 00:29:56,000 --> 00:29:57,680 - is very difficult. - It is. 522 00:29:57,800 --> 00:30:00,400 - So, well done for building the brand. -Thank you so much. 523 00:30:00,480 --> 00:30:03,120 How did you figure out how to make these products? 524 00:30:03,840 --> 00:30:06,840 I actually faced many skin issues. 525 00:30:06,920 --> 00:30:09,520 After using the foundation, my skin 526 00:30:09,600 --> 00:30:11,520 used to be inflamed for around 5 days. 527 00:30:11,600 --> 00:30:14,120 Of course, I consulted a dermatologist. 528 00:30:14,200 --> 00:30:17,840 They mentioned that for those with sensitive skin, 529 00:30:17,920 --> 00:30:20,160 many petrochemicals, 530 00:30:20,280 --> 00:30:23,160 microplastics, and silicones are not suitable. 531 00:30:23,240 --> 00:30:25,240 And back then, we didn't have many options. 532 00:30:25,320 --> 00:30:29,000 I mean, we used to call our relatives who lived in the US 533 00:30:29,080 --> 00:30:32,880 to bring something from an organic brand there. 534 00:30:32,960 --> 00:30:33,880 That is how we used to hustle. 535 00:30:33,960 --> 00:30:36,920 Which brands in the US were organic brands? 536 00:30:37,040 --> 00:30:38,920 - RMS Beauty. - How big is that brand? 537 00:30:39,000 --> 00:30:42,080 I think 60 million dollars. And they are acquired. 538 00:30:42,160 --> 00:30:44,280 Are there brands in India focussed on 539 00:30:44,360 --> 00:30:46,680 - organic makeup? Who are they? - Of course! There are plenty. 540 00:30:46,720 --> 00:30:49,000 - So, there's Juicy Chemistry. - Okay. 541 00:30:49,240 --> 00:30:51,320 There is Earth Rhythm, Daughter Earth, 542 00:30:51,440 --> 00:30:53,720 and Plum in some categories. 543 00:30:53,880 --> 00:30:57,200 - Are there studies in India or globally... - Yes. 544 00:30:57,320 --> 00:30:59,760 To show what damages regular makeup 545 00:30:59,840 --> 00:31:03,200 can cause on your skin compared to organic makeup? 546 00:31:03,320 --> 00:31:04,960 - Yes! - Is there data or evidence? 547 00:31:05,040 --> 00:31:05,920 Lots, ma'am. 548 00:31:06,080 --> 00:31:07,480 Give us a couple of examples. 549 00:31:07,560 --> 00:31:12,200 The ingredient considered the most harmful to the skin is Phthalates. 550 00:31:12,280 --> 00:31:17,200 {\an8}- Phthalates are used for carrying fragrance in a formulation. - Okay. 551 00:31:17,320 --> 00:31:19,280 When we read the ingredients, 552 00:31:19,400 --> 00:31:22,640 we see 'fragrance.' It's usually the last ingredient. 553 00:31:22,760 --> 00:31:25,480 Many companies use that as a trade secret 554 00:31:25,600 --> 00:31:27,600 to hide the phthalates that they are using. 555 00:31:27,680 --> 00:31:30,720 Which is DEP! It's a very commonly used ingredient. 556 00:31:30,880 --> 00:31:32,920 And it's not disclosed. 557 00:31:33,960 --> 00:31:36,400 So, how does a common person like me find out? 558 00:31:36,520 --> 00:31:37,680 That's what! 559 00:31:38,680 --> 00:31:41,520 What are a couple of ingredients 560 00:31:41,640 --> 00:31:44,120 - that I should know are bad for me? - Polyethylene. 561 00:31:44,200 --> 00:31:45,480 - What does that do? - It's Polythene. 562 00:31:45,480 --> 00:31:48,400 It doesn't cross your skin barrier. 563 00:31:49,200 --> 00:31:50,680 In that sense, it's safe. 564 00:31:50,760 --> 00:31:54,760 But when we apply lipsticks, we eat them. 565 00:31:54,840 --> 00:31:55,920 Ah! 566 00:31:56,000 --> 00:31:58,200 - Yes, I just want to add to this. - Thank you! 567 00:31:59,600 --> 00:32:03,280 The fragrance in make-up, 568 00:32:03,440 --> 00:32:05,040 even if a brand adds it, mostly... 569 00:32:05,200 --> 00:32:06,480 A lot of brands don't add it. 570 00:32:06,560 --> 00:32:08,640 It is 0.0001%. 571 00:32:08,720 --> 00:32:10,160 - Okay.- - That's the last ingredient 572 00:32:10,160 --> 00:32:12,200 which is why it isn't expanded. 573 00:32:12,280 --> 00:32:14,400 - Correct. - But fragrance is something 574 00:32:14,480 --> 00:32:17,160 that body washes, face washes 575 00:32:17,360 --> 00:32:21,040 as well as perfumes contain in a much higher concentration. 576 00:32:21,160 --> 00:32:24,920 The long-term harm that fragrances and phthalates cause 577 00:32:25,200 --> 00:32:27,200 is actually the least in make-up. 578 00:32:27,360 --> 00:32:29,840 But the harmful ingredients in make-up... 579 00:32:29,920 --> 00:32:31,800 - Specifically that used to be harmful... - Yes. 580 00:32:31,920 --> 00:32:34,720 - Lead, asbestos, mercury. - Yes. 581 00:32:34,760 --> 00:32:37,280 The Government of India has banned them. 582 00:32:37,320 --> 00:32:40,120 Coming to petrochemicals in make-up. 583 00:32:40,280 --> 00:32:42,320 Again, the biggest is wax. 584 00:32:42,360 --> 00:32:43,520 So, lipsticks have wax 585 00:32:43,760 --> 00:32:45,880 - but so do lip balms. - Yes. 586 00:32:46,120 --> 00:32:49,000 I haven't read any research on how harmful it is. 587 00:32:49,080 --> 00:32:51,400 I think a lot of brands are not using polyethylene 588 00:32:51,520 --> 00:32:54,040 in their lipsticks nowadays. 589 00:32:54,840 --> 00:32:58,440 Our focus is not to demonise chemicals 590 00:32:58,560 --> 00:33:00,000 or any other brands 591 00:33:00,760 --> 00:33:04,040 but we can be more thoughtful and mindful 592 00:33:04,120 --> 00:33:06,480 about the ingredients we do choose to use. 593 00:33:06,560 --> 00:33:07,840 Just a small example. 594 00:33:07,920 --> 00:33:11,200 Our sunscreens contain UV filters 595 00:33:11,800 --> 00:33:14,800 namely oxybenzone, avobenzone and octinoxate. 596 00:33:14,920 --> 00:33:15,960 There is proof 597 00:33:16,040 --> 00:33:18,480 that when used, it enters the bloodstream 598 00:33:18,560 --> 00:33:20,880 and it's been found in tissues as well. 599 00:33:22,160 --> 00:33:25,240 So, it's more of a precautionary approach. 600 00:33:25,560 --> 00:33:26,560 That's it. 601 00:33:27,720 --> 00:33:29,160 We discussed a lot of things. 602 00:33:29,240 --> 00:33:32,720 - "This contains x. That contains x. This is harmful..." - Yes. 603 00:33:32,920 --> 00:33:36,440 Tell us a little about your products and proposition. 604 00:33:36,600 --> 00:33:39,120 Why should someone buy Ruby's Organics? 605 00:33:39,520 --> 00:33:41,000 Make-up made better. 606 00:33:43,600 --> 00:33:44,640 But what does that mean? 607 00:33:44,840 --> 00:33:46,880 It's an ingredients-first approach. 608 00:33:49,040 --> 00:33:52,400 They are ECOCERT and COSMOS-approved ingredients 609 00:33:52,480 --> 00:33:54,680 and most of our ingredients are certified. 610 00:33:55,400 --> 00:33:57,280 Our sourcing is only through 611 00:34:03,840 --> 00:34:05,520 ...gives surety to the customer 612 00:34:05,600 --> 00:34:08,040 that the products are indeed clean. 613 00:34:09,400 --> 00:34:10,520 [chuckles] 614 00:34:12,040 --> 00:34:12,880 Aman! 615 00:34:12,960 --> 00:34:15,600 - The packaging is very nice. - Namita... Thank you. 616 00:34:16,080 --> 00:34:17,640 - Ritesh. - Thank you. 617 00:34:17,720 --> 00:34:19,600 Yes. Just in case you want it. 618 00:34:19,720 --> 00:34:20,920 Yes, thank you. 619 00:34:21,120 --> 00:34:22,320 Thank you so much. 620 00:34:27,720 --> 00:34:30,320 Ruby, the feel of your product is great. 621 00:34:30,480 --> 00:34:31,400 Thank you. 622 00:34:31,480 --> 00:34:33,200 The lipstick is unique. 623 00:34:33,280 --> 00:34:35,960 - You've to press it to expose the lipstick. - Yes. 624 00:34:36,040 --> 00:34:37,720 - It's a click, right. - Almost like a pen. 625 00:34:44,480 --> 00:34:46,000 How many SKUs do you have, Ruby? 626 00:34:46,080 --> 00:34:48,800 Approximately 100 active SKUs. 627 00:34:48,880 --> 00:34:50,480 What's your top-selling product? 628 00:34:50,560 --> 00:34:52,440 Our Kohl Pencil by volume. 629 00:34:52,560 --> 00:34:55,200 - What do you call the eye pencil? - Kohl Pencil. 630 00:34:56,320 --> 00:34:57,320 Is this 'kajal'? 631 00:34:57,400 --> 00:34:58,200 - Yes. - 'Kajal.' 632 00:34:58,400 --> 00:35:00,040 Sounds so British! Kohl Pencil. 633 00:35:00,200 --> 00:35:01,440 - British! - So... 634 00:35:01,560 --> 00:35:02,560 [laughs] 635 00:35:02,720 --> 00:35:05,160 How much do you get kohl for in the market? 636 00:35:05,360 --> 00:35:07,040 Between Rs. 200 to 600. 637 00:35:08,400 --> 00:35:09,840 - So, this is expensive. - No. 638 00:35:09,920 --> 00:35:12,200 The selling price is Rs. 585. 639 00:35:12,280 --> 00:35:13,280 Which is good or bad? 640 00:35:13,320 --> 00:35:14,240 - Which is very expensive. - Which is... 641 00:35:14,320 --> 00:35:15,360 It's on the premium side, 642 00:35:15,440 --> 00:35:18,960 but we are convincing people with really good content. 643 00:35:19,520 --> 00:35:21,840 So, the conversion rates on our website 644 00:35:21,920 --> 00:35:24,400 on a normal day are between 4 to 6%. 645 00:35:35,680 --> 00:35:39,080 - Tell me something. You mentioned ECOCERT and COSMOS. - Right. 646 00:35:39,160 --> 00:35:40,640 That's an incredible certification. 647 00:35:40,720 --> 00:35:42,160 Why don't you mention it on the pack? 648 00:35:42,920 --> 00:35:45,120 When we write that, Vineeta, 649 00:35:45,200 --> 00:35:47,360 that's when the brand is certified. 650 00:35:47,520 --> 00:35:51,520 - Why didn't you certify the brand? - Because it's really expensive. 651 00:35:52,880 --> 00:35:55,440 You ought to make that investment because that's... 652 00:35:55,520 --> 00:35:57,600 - On the brand, right? - Yes, of course! 653 00:35:57,680 --> 00:35:58,880 Without that certification, 654 00:35:58,960 --> 00:36:02,120 you can't claim it's ECOCERT and COSMOS-approved. 655 00:36:02,200 --> 00:36:04,320 But I promise you it's part of the plan. 656 00:36:05,040 --> 00:36:06,160 Ruby's Organics. 657 00:36:06,240 --> 00:36:09,400 - Plant-based, mineral-based make-up. - Hmm. 658 00:36:09,520 --> 00:36:10,760 Is this an afterthought 659 00:36:10,840 --> 00:36:13,000 or is this what you always wanted to do? 660 00:36:13,120 --> 00:36:15,280 I've always had the foresight. 661 00:36:15,360 --> 00:36:19,920 Small brands are popping up in North America, Europe and Australia... 662 00:36:20,000 --> 00:36:21,000 Obviously, my... 663 00:36:21,080 --> 00:36:22,960 Because of my own issues and struggles, 664 00:36:23,040 --> 00:36:24,640 I knew what was happening. 665 00:36:24,760 --> 00:36:25,920 When I saw this, 666 00:36:26,000 --> 00:36:28,600 I wondered how they were doing this and wanted to try it too. 667 00:36:29,440 --> 00:36:31,240 I didn't have any backup. 668 00:36:31,920 --> 00:36:35,040 I borrowed Rs. 5 lakhs from my dad. 669 00:36:35,120 --> 00:36:37,200 I had a savings of Rs. 5 lakhs. 670 00:36:37,280 --> 00:36:42,200 After a year of making ingredients in my own kitchen, by the way... 671 00:36:42,560 --> 00:36:46,040 I would order the raw materials from eBay 672 00:36:46,120 --> 00:36:49,360 and make it in my kitchen, but this was food grade. 673 00:36:49,640 --> 00:36:53,360 It was my personal conviction that this was worth exploring. 674 00:36:53,560 --> 00:36:55,640 Then I connected with an R&D company. 675 00:36:56,480 --> 00:36:58,400 They helped me fine-tune the product. 676 00:36:58,560 --> 00:37:02,120 After hours of research, we found alternatives. 677 00:37:02,400 --> 00:37:04,720 If I wanted x consistency, 678 00:37:05,400 --> 00:37:06,680 what ingredients must I use? 679 00:37:06,760 --> 00:37:10,080 If I don't wish to use silicone, what can I use instead? 680 00:37:10,240 --> 00:37:15,520 Of course, I spent three years at home without a salary 681 00:37:15,640 --> 00:37:18,240 on the basic minimal I made. 682 00:37:18,360 --> 00:37:21,560 But now, when I look back, it's all worth it. 683 00:37:23,080 --> 00:37:24,280 How? Where are you now? 684 00:37:24,360 --> 00:37:25,840 What are you doing? Where have you reached? 685 00:37:25,840 --> 00:37:28,000 - Tell us the scale of your business. - Okay. 686 00:37:29,080 --> 00:37:32,240 In FY 21-22, it was Rs. 2.2 crores. 687 00:37:32,600 --> 00:37:35,360 In 22-23, it was Rs. 3.2 crores. 688 00:37:35,440 --> 00:37:38,280 In 23-24, it was Rs. 4.5 crores. 689 00:37:38,440 --> 00:37:41,960 And this year, we're projected to close at Rs. 7.5 crores. 690 00:37:51,720 --> 00:37:53,840 The next year after that when we raised funds, 691 00:37:53,920 --> 00:37:57,240 our loss was -34%. 692 00:37:57,400 --> 00:37:59,920 The year after that, -14%. 693 00:38:00,160 --> 00:38:03,280 And this year, so far to date, -8%. 694 00:38:03,440 --> 00:38:05,160 And the projected profit for the whole year? 695 00:38:05,160 --> 00:38:06,000 8%. 696 00:38:06,120 --> 00:38:10,720 How, Ruby, when you've been making losses for 7 years? 697 00:38:10,760 --> 00:38:13,160 No, we were profitable for five years. 698 00:38:13,880 --> 00:38:15,520 - When? - From 2017... 699 00:38:15,600 --> 00:38:16,600 From 2017 to 2022. 700 00:38:16,680 --> 00:38:19,080 Yes. So, when we raised money in 2022... 701 00:38:23,680 --> 00:38:26,680 Rs. 2 crores for a Rs. 10-crore valuation at that time. 702 00:38:27,080 --> 00:38:30,240 That's when our fixed cost really went up 703 00:38:30,360 --> 00:38:33,120 because we'd hired a team at the time. 704 00:38:33,200 --> 00:38:35,960 We were CM1 and CM2-positive consistently. 705 00:38:36,400 --> 00:38:38,880 Ruby, your progress was quite significant. 706 00:38:38,960 --> 00:38:40,040 - Your sales went up... - Yes. 707 00:38:40,080 --> 00:38:42,440 And your losses reduced simultaneously. 708 00:38:42,520 --> 00:38:45,960 - This means your business has been progressing. - Yes. 709 00:38:46,360 --> 00:38:48,640 Could you tell us about your unit economics? 710 00:38:48,760 --> 00:38:51,120 Your gross margin and expenses. 711 00:38:51,200 --> 00:38:52,800 - Yes... - Before you get to that, 712 00:38:52,880 --> 00:38:54,480 how much cash do you have in the bank? 713 00:38:54,600 --> 00:38:57,840 As of October end, Rs. 10.5 lakhs. 714 00:38:57,920 --> 00:38:59,560 That's two months of money. 715 00:39:00,680 --> 00:39:01,720 Um, yes, 716 00:39:01,800 --> 00:39:04,400 but we do have a credit limit 717 00:39:04,520 --> 00:39:06,120 - which we're getting a renewal on. - You could draw that down. 718 00:39:06,120 --> 00:39:08,160 Okay. You may proceed to the unit economics. 719 00:39:08,240 --> 00:39:10,680 Yes. COGS is 24%. 720 00:39:11,120 --> 00:39:13,240 Direct expenses is 15%. 721 00:39:13,320 --> 00:39:15,000 Define direct expenses. 722 00:39:15,080 --> 00:39:17,680 Direct expenses include logistics, 723 00:39:17,760 --> 00:39:19,280 - payment gateway charges... - Okay. 724 00:39:19,360 --> 00:39:21,000 - Shipping boxes. - Okay. 725 00:39:21,240 --> 00:39:25,240 Then comes marketing which is about 37%. 726 00:39:25,480 --> 00:39:26,920 Yes, it's high. 727 00:39:27,040 --> 00:39:28,880 Performance marketing is expensive. 728 00:39:29,760 --> 00:39:33,920 - And fixed costs which is 27%. - Okay. 729 00:39:34,080 --> 00:39:36,600 That's salaries, rent and the others. 730 00:39:36,680 --> 00:39:38,200 Where do most of your orders come from? 731 00:39:39,240 --> 00:39:42,880 E-commerce. We have D2C and marketplaces. 732 00:39:49,160 --> 00:39:51,920 And 42% comes from marketplaces. 733 00:39:52,040 --> 00:39:53,880 What's your rating on Amazon? 734 00:39:54,000 --> 00:39:56,400 Between 3.9 to 4.2. 735 00:39:56,520 --> 00:39:59,600 Our foundations have the highest ranking. 736 00:39:59,720 --> 00:40:01,200 - Repeat customer percent? - About... 737 00:40:01,320 --> 00:40:03,880 On Amazon, it's about 20% 738 00:40:03,960 --> 00:40:05,080 - but... - And D2C? 739 00:40:05,160 --> 00:40:08,680 In D2C, it's 35%, last three months. 740 00:40:10,840 --> 00:40:11,960 Very small right now. 741 00:40:12,120 --> 00:40:14,320 - When did you get listed with them? - It's been a year. 742 00:40:14,400 --> 00:40:15,440 - It didn't ramp up... - Yes, 743 00:40:15,520 --> 00:40:17,440 but very limited SKUs for now. 744 00:40:17,520 --> 00:40:21,160 Why do you think you failed to get traction on quick commerce? 745 00:40:21,800 --> 00:40:23,800 Because with make-up, even now, 746 00:40:23,960 --> 00:40:26,120 there are the Nykaa's of the world. 747 00:40:26,840 --> 00:40:29,440 People are so comfortable with Nykaa 748 00:40:29,520 --> 00:40:30,640 - and... - It's not like that. 749 00:40:30,720 --> 00:40:34,000 - We're investors in a company called Fae Beauty. - Right. 750 00:40:34,120 --> 00:40:36,280 - Right! Of course, she's a friend of mine. - Yes. 751 00:40:36,360 --> 00:40:39,520 - She has great traction in quick commerce. - Yes? 752 00:40:39,960 --> 00:40:41,320 Is she spending? 753 00:40:41,520 --> 00:40:42,520 I'm sure she is. 754 00:40:42,560 --> 00:40:43,760 - Yes, that's not... - But... 755 00:40:43,840 --> 00:40:45,440 We're not doing that right now. 756 00:40:45,960 --> 00:40:48,000 Ruby, I see a problem with the business. 757 00:40:49,320 --> 00:40:50,320 Why? 758 00:40:50,680 --> 00:40:52,840 I think your sales are not a lot. 759 00:40:53,280 --> 00:40:58,200 I mean, there isn't much demand for organic make-up. 760 00:40:59,920 --> 00:41:01,320 On the contrary, 761 00:41:01,400 --> 00:41:03,640 through statistics, I got to know 762 00:41:03,760 --> 00:41:07,480 that in 2024, the sale of natural cosmetics in India 763 00:41:07,640 --> 00:41:11,360 was about 935 million. 764 00:41:11,760 --> 00:41:13,640 Just natural cosmetics. 765 00:41:13,800 --> 00:41:15,800 What are the sales of your competitors like? 766 00:41:16,000 --> 00:41:17,680 So, like Just Herbs, 767 00:41:17,800 --> 00:41:21,040 I think it's easily over Rs. 100 crores. 768 00:41:21,160 --> 00:41:22,280 Juicy Chemistry? 769 00:41:22,440 --> 00:41:25,040 Juicy Chemistry as of '23, 770 00:41:25,120 --> 00:41:27,240 I think Rs. 40 to 50 crores. 771 00:41:27,320 --> 00:41:30,240 - Not very sure. - What about Plum's organic range? 772 00:41:30,520 --> 00:41:32,960 Plum doesn't have an organic range. They have a natural... 773 00:41:33,040 --> 00:41:34,520 - What is it? - Call. 774 00:41:34,600 --> 00:41:36,480 I'm not sure about Plum. 775 00:41:37,360 --> 00:41:40,000 Vineeta, what are your views on organic make-up? 776 00:41:40,080 --> 00:41:41,800 The market is quite small now. 777 00:41:41,920 --> 00:41:43,960 She said 900 million. 778 00:41:44,720 --> 00:41:47,200 A large part of this is skincare brands, 779 00:41:47,320 --> 00:41:51,240 - which comprise fake naturals called greenwashing. - Yes. 780 00:41:51,320 --> 00:41:53,800 They claim they're natural and organic 781 00:41:53,920 --> 00:41:54,920 but actually are not 782 00:41:54,960 --> 00:41:56,560 because it's real hard work. 783 00:41:56,680 --> 00:41:58,200 You think this is a small market? 784 00:41:58,280 --> 00:42:01,080 It's small now. Rs. 100 crores right now is small. 785 00:42:01,160 --> 00:42:03,440 - It hasn't grown too much even abroad. - There was... 786 00:42:03,520 --> 00:42:04,520 Sorry? 787 00:42:06,800 --> 00:42:10,760 A study report done by Bain and DSG said 788 00:42:11,360 --> 00:42:13,800 that young India 789 00:42:14,040 --> 00:42:15,760 is willing to pay a premium 790 00:42:15,840 --> 00:42:18,040 on these top two USPs. 791 00:42:18,120 --> 00:42:20,920 Natural and chemical-free and the second is, made in India. 792 00:42:21,040 --> 00:42:22,360 It is an evolving market. 793 00:42:22,440 --> 00:42:25,080 It's growing very fast. 794 00:42:26,160 --> 00:42:29,240 Ruby, if asked to quit organic and do something else, would you? 795 00:42:29,320 --> 00:42:30,320 No. 796 00:42:31,280 --> 00:42:33,880 What if you don't get sales and the market doesn't grow? 797 00:42:34,080 --> 00:42:35,560 - It will. - When? 798 00:42:35,720 --> 00:42:37,800 2030. 799 00:42:37,920 --> 00:42:39,800 - We'll invest in 2029. - This market is going 800 00:42:39,880 --> 00:42:41,120 to be a billion-dollar market. 801 00:42:41,200 --> 00:42:42,320 We'll enter it then. 802 00:42:42,440 --> 00:42:45,400 I have no problem though. I love what I do. 803 00:42:45,680 --> 00:42:49,680 She's been doing it for 10 years. Why would she change for you? 804 00:42:49,760 --> 00:42:52,760 I love what I do! I'll keep doing it. 805 00:42:52,840 --> 00:42:55,040 I've been doing this for 7 years. So... 806 00:42:55,120 --> 00:42:58,240 - You won't survive if you don't get funding. - No. 807 00:42:58,360 --> 00:42:59,800 - How so? - The capital is available. 808 00:43:00,080 --> 00:43:03,400 Our investors are willing to reinvest also soon, 809 00:43:03,480 --> 00:43:06,800 - but I said let me do Shark Tank... - Okay, Ruby! 810 00:43:07,760 --> 00:43:10,880 Your journey is like a marathon. 811 00:43:10,960 --> 00:43:13,680 I remind founders more often than not 812 00:43:13,920 --> 00:43:16,360 that start-ups are a marathon. It takes time 813 00:43:16,440 --> 00:43:19,360 - especially to build a brand and gain trust. - Yes. 814 00:43:19,480 --> 00:43:22,960 But every marathon will consist of sprints too. 815 00:43:23,040 --> 00:43:24,600 - Correct. - We went through a phase 816 00:43:24,720 --> 00:43:28,000 when our products went viral and were sold out. 817 00:43:28,080 --> 00:43:32,400 We realised that this is big and we ought to invest in this. 818 00:43:32,480 --> 00:43:35,320 So, I think you should do sprints too. 819 00:43:35,520 --> 00:43:37,760 - Marathon alone is not enough. - Okay. 820 00:43:37,840 --> 00:43:42,240 - The online window on quick commerce right now... - Yes. 821 00:43:42,320 --> 00:43:43,320 Will not return. 822 00:43:43,400 --> 00:43:47,040 It'll get overcrowded. You ought to double down there. 823 00:43:47,120 --> 00:43:50,480 Secondly, certification in India really matters. 824 00:44:00,080 --> 00:44:02,000 - but quote an organic certificate. - Right. 825 00:44:02,080 --> 00:44:03,280 Those are my two suggestions. 826 00:44:03,360 --> 00:44:07,320 Right now, the scale and category in which you're playing, is small. 827 00:44:07,400 --> 00:44:08,880 - For that reason, I'm out. - Sure. 828 00:44:09,920 --> 00:44:12,680 Certification, I agree with Vineeta, it builds trust, 829 00:44:12,840 --> 00:44:13,920 but I don't agree with Vineeta 830 00:44:13,960 --> 00:44:17,360 that your marketing cost after certification would drop to 10% 831 00:44:18,240 --> 00:44:20,200 because this is a category 832 00:44:20,280 --> 00:44:22,800 that requires spending on marketing heavily. 833 00:44:22,960 --> 00:44:24,800 - That'll always remain a challenge. - Yes. 834 00:44:24,880 --> 00:44:27,520 I personally feel that players like Plum and all... 835 00:44:27,600 --> 00:44:30,520 - Purplle and Nykaa have their own brands too. - Yes. 836 00:44:30,600 --> 00:44:32,840 Very easy to catch on to the organic trend 837 00:44:32,920 --> 00:44:33,920 when it involves 838 00:44:34,000 --> 00:44:35,640 - to launch their own, label. - Yes. 839 00:44:35,720 --> 00:44:37,480 They have already built trust. 840 00:44:37,560 --> 00:44:38,960 And for that reason, I'm out. 841 00:44:39,040 --> 00:44:40,240 Okay, sure. 842 00:44:40,400 --> 00:44:42,400 I feel that by the time 843 00:44:42,480 --> 00:44:44,680 - you work on this and try to grow it... - Yes. 844 00:44:44,760 --> 00:44:49,600 Another brand would double down on this and make it much bigger. 845 00:44:50,040 --> 00:44:53,520 So, your right to win would lower 846 00:44:53,640 --> 00:44:57,040 compared to the brands which are already funded 847 00:44:57,160 --> 00:44:58,520 and are already... 848 00:44:58,600 --> 00:45:00,160 This is why I'm here. 849 00:45:00,240 --> 00:45:02,520 - This is the beginning of something very big for me. - This... 850 00:45:02,560 --> 00:45:03,360 No, but why this? 851 00:45:03,440 --> 00:45:05,880 - You already have funds. - I will get you. 852 00:45:06,480 --> 00:45:11,360 - We... - It gives me direct access to so much guidance, Aman. 853 00:45:11,480 --> 00:45:12,680 [chuckles] 854 00:45:13,600 --> 00:45:14,880 [laughs] 855 00:45:15,200 --> 00:45:17,920 Ruby, I'm out for now. 856 00:45:18,040 --> 00:45:19,640 - Unfortunately. - No problem, okay. 857 00:45:19,720 --> 00:45:22,040 I feel you need to run 858 00:45:23,240 --> 00:45:24,720 a bit faster in the race 859 00:45:24,960 --> 00:45:26,680 before the other brands join in. 860 00:45:26,800 --> 00:45:28,800 Going to run faster, 100%. 861 00:45:30,240 --> 00:45:31,520 In comparison to your numbers, 862 00:45:31,600 --> 00:45:34,560 your spend on performance marketing is disproportionately higher. 863 00:45:36,040 --> 00:45:39,320 - Okay. - By design, if your content 864 00:45:39,440 --> 00:45:42,720 is truly so compulsive for the customer, 865 00:45:42,800 --> 00:45:44,480 they'll start buying your products 866 00:45:44,600 --> 00:45:47,360 - without having to boost those. - Right. 867 00:45:47,440 --> 00:45:50,400 As that's not there, I'm out for that reason. 868 00:45:50,480 --> 00:45:51,720 I wish you all the very best. 869 00:45:51,800 --> 00:45:53,080 Thank you so much. 870 00:45:54,320 --> 00:45:56,000 Kunal, go with your gut feeling. 871 00:45:56,200 --> 00:45:57,320 [laughter] 872 00:45:57,440 --> 00:45:58,280 Good one. 873 00:45:58,360 --> 00:46:00,960 You want to bet on me. I know it, I can see it. 874 00:46:01,040 --> 00:46:02,680 - Oh, nice! - Okay, Ruby. 875 00:46:03,280 --> 00:46:05,200 I have a high interest in this space. 876 00:46:05,280 --> 00:46:07,760 - I've invested in many companies in this space. - Yes. 877 00:46:07,840 --> 00:46:11,040 FAE Beauty, Renee Cosmetics, Mamaearth, Nat Habit. 878 00:46:11,160 --> 00:46:14,520 I believe that Indian consumers will continue to consume them. 879 00:46:14,600 --> 00:46:16,840 - They need newer options. - Yes. 880 00:46:16,920 --> 00:46:19,520 I think this company has quite a few good aspects. 881 00:46:19,600 --> 00:46:21,240 The products and the founder. 882 00:46:21,320 --> 00:46:23,440 - The financials are improving. - Definitely. 883 00:46:23,520 --> 00:46:27,880 However, currently, this company is running at room temperature. 884 00:46:28,000 --> 00:46:29,000 Okay. 885 00:46:29,120 --> 00:46:31,840 - You need to inject some heat into it. - Yes, sure. 886 00:46:31,920 --> 00:46:33,800 - Raise the temperature. - Yes, ready. 887 00:46:33,880 --> 00:46:35,000 I'm happy to do that. 888 00:46:35,240 --> 00:46:36,240 - Thank you. - Whoa! 889 00:46:36,280 --> 00:46:37,880 - Yay! - Nice. 890 00:46:37,960 --> 00:46:40,160 So, I'll invest Rs. 1 crore 891 00:46:40,440 --> 00:46:42,800 at your last round's valuation of Rs. 10 crores 892 00:46:43,080 --> 00:46:44,320 - for 10% equity. - No! 893 00:46:45,800 --> 00:46:46,800 Can't do that. 894 00:46:46,840 --> 00:46:48,520 - You think about it. - Um... 895 00:46:51,280 --> 00:46:53,600 Kunal, we have a long way to go. 896 00:46:55,000 --> 00:46:58,240 Can you please support me? You won't regret it. 897 00:46:58,320 --> 00:47:00,000 - Can you do 4%? - I... 898 00:47:05,200 --> 00:47:08,760 I'm committed to supporting for not a few years, 899 00:47:08,880 --> 00:47:11,040 - but 15 to 20 years. - Uh-huh. 900 00:47:11,440 --> 00:47:15,200 If we, Titan Capital, get involved, 901 00:47:15,560 --> 00:47:19,600 you wouldn't even know when the sales went up 902 00:47:19,680 --> 00:47:21,600 from Rs. 7.5 crores to Rs. 75 crores. 903 00:47:21,680 --> 00:47:22,520 Yes. 904 00:47:22,640 --> 00:47:25,280 If you want, you could give another counteroffer 905 00:47:25,360 --> 00:47:27,880 - which is closer to... - You could also turn it down. 906 00:47:29,200 --> 00:47:31,560 When you were doing Rs. 7 crores in revenue 907 00:47:31,640 --> 00:47:33,240 and someone gave you a Rs. 10-crore valuation... 908 00:47:33,280 --> 00:47:34,480 I would have said no flatly. 909 00:47:34,920 --> 00:47:36,320 - How can I? - I mean... 910 00:47:36,400 --> 00:47:38,440 I'm the future Vineeta. 911 00:47:38,920 --> 00:47:40,720 - Oh! - Oh, that's so nice. 912 00:47:40,800 --> 00:47:42,360 - I have to take her advice. - That's so nice. 913 00:47:42,400 --> 00:47:43,840 We would like to have you here. 914 00:47:44,080 --> 00:47:46,600 Okay, Ruby. What is your final proposal? 915 00:47:46,680 --> 00:47:48,120 Kunal, 4%. 916 00:47:52,920 --> 00:47:54,560 I'm telling you on national television. 917 00:47:54,640 --> 00:47:55,640 I'm giving you my word. 918 00:47:55,720 --> 00:47:57,400 I generally don't negotiate. 919 00:47:57,480 --> 00:47:59,760 I'm very clear about the offers I make. 920 00:47:59,920 --> 00:48:02,400 There is something very likeable about you. 921 00:48:02,800 --> 00:48:06,840 And for that reason, I could do Rs. 1 crore for 8%. 922 00:48:12,000 --> 00:48:13,560 - Take your time. - Thank you, that really helps. 923 00:48:13,600 --> 00:48:15,040 - Take your time. - That's important. 924 00:48:16,720 --> 00:48:18,040 What do you think she'll do? 925 00:48:18,120 --> 00:48:19,600 It'll be wrong if she doesn't take it. 926 00:48:19,680 --> 00:48:21,240 - What do you think, Ritesh? - I don't think she'll accept it. 927 00:48:21,240 --> 00:48:22,800 - I think she will. - But that'll be a mistake 928 00:48:22,840 --> 00:48:24,880 - if she doesn't take Kunal's offer. - She might. 929 00:48:24,960 --> 00:48:29,000 - 'It feels it's going to be...' - Yes, that's the call. 930 00:48:29,080 --> 00:48:31,800 'Honestly, it's not... It's not great, yes.' 931 00:48:31,960 --> 00:48:34,280 - She... - I think Kunal will be convinced for 6%. 932 00:48:34,440 --> 00:48:37,320 I think this deal will not go through. 933 00:48:38,280 --> 00:48:39,640 [tense music playing] 934 00:48:41,400 --> 00:48:42,920 Hello, Sharks. 935 00:48:43,000 --> 00:48:44,720 - Wow! - Greetings and welcome. 936 00:48:44,800 --> 00:48:48,680 Kunal, we scaled 3x since our last valuation. 937 00:48:48,880 --> 00:48:52,240 At least give us a 3x multiple on Rs. 7.5 crores. 938 00:48:52,320 --> 00:48:53,720 - Which would be? - 5%. 939 00:48:57,320 --> 00:48:59,000 You've come down to 5%. 940 00:49:06,040 --> 00:49:07,560 I'm at 8%. I'm very clear. 941 00:49:07,640 --> 00:49:09,280 I offered 10% and came down to 8%. 942 00:49:09,360 --> 00:49:10,400 I won't settle for 7%. 943 00:49:11,760 --> 00:49:13,040 One percent. 944 00:49:13,480 --> 00:49:14,480 Let me do it. 945 00:49:14,640 --> 00:49:15,760 [tense music playing] 946 00:49:18,040 --> 00:49:19,840 So, 3% advisory shares? 947 00:49:19,920 --> 00:49:22,240 You may structure it the way you want, 948 00:49:22,720 --> 00:49:25,080 but Rs. 1 crore for 8% equity. 949 00:49:27,600 --> 00:49:28,600 Yes. 950 00:49:29,400 --> 00:49:30,480 Super sealed. 951 00:49:30,800 --> 00:49:32,200 - Oh, deal's sealed. - It's closed. 952 00:49:39,360 --> 00:49:40,360 Do well. 953 00:49:40,600 --> 00:49:41,920 We will for sure. Thank you. 954 00:49:42,000 --> 00:49:43,480 - Rooting for you. - Thank you so much, guys. 955 00:49:43,520 --> 00:49:44,520 Seriously! 956 00:49:45,040 --> 00:49:48,080 'Kunal negotiated with me and took my consideration.' 957 00:49:48,200 --> 00:49:50,520 That shows how much he believed in me. 958 00:50:01,680 --> 00:50:04,120 ...and he still believed in me. 959 00:50:04,200 --> 00:50:06,040 Opportunities like this don't come often. 960 00:50:06,120 --> 00:50:07,200 [joyous cry] 961 00:50:08,600 --> 00:50:09,800 [music fades out] 962 00:50:10,520 --> 00:50:11,400 Hello, Rubeina. 963 00:50:11,520 --> 00:50:12,360 Hi! 964 00:50:12,480 --> 00:50:14,400 Welcome to our PokerBaazi zone where you hold the cards. 965 00:50:14,400 --> 00:50:15,640 Thank you for having me. 966 00:50:15,720 --> 00:50:17,040 How was your experience? 967 00:50:17,520 --> 00:50:18,520 Life-changing. 968 00:50:22,600 --> 00:50:24,000 - Very chilled. - I love that. 969 00:50:47,480 --> 00:50:50,240 ...achieved a bit of success but there's still a long way to go. 970 00:50:50,480 --> 00:50:52,200 And lastly, the maturity phase 971 00:50:52,280 --> 00:50:55,600 where you've cracked everything and you've got the money and fame. 972 00:50:55,680 --> 00:50:56,960 Everything's going very well. 973 00:50:57,280 --> 00:50:59,160 For our audiences at home, 974 00:50:59,280 --> 00:51:02,880 please share a story relating to any of these phases. 975 00:51:03,000 --> 00:51:04,440 In the growth phase, 976 00:51:04,520 --> 00:51:08,960 a really exciting thing happened a few months ago. 977 00:51:09,040 --> 00:51:12,120 We launched two products. 978 00:51:12,480 --> 00:51:18,120 And we stuck to our usual inventory 979 00:51:18,200 --> 00:51:22,080 assuming it was a new product and category 980 00:51:22,160 --> 00:51:23,360 and it'd take time. 981 00:51:23,440 --> 00:51:27,360 - But it went out of stock within three days. - Oh! 982 00:51:27,640 --> 00:51:32,280 So, that is one of my most memorable growth experiences. 983 00:51:32,360 --> 00:51:34,280 Wow! Thank you so much for sharing that. 984 00:51:58,680 --> 00:52:00,760 If you're a master of skills and strategies, 985 00:52:00,840 --> 00:52:03,120 log on to the PokerBaazi app and make a winning hand. 986 00:52:03,200 --> 00:52:04,720 Download the PokerBaazi app now. 987 00:52:15,960 --> 00:52:18,920 A business giant passionate not just about his work 988 00:52:19,160 --> 00:52:22,240 but also dedicated to empowering the differently-abled. 989 00:52:22,360 --> 00:52:24,960 Mr. Jeet Adani, Director of Adani Airports. 990 00:52:25,080 --> 00:52:26,520 [sentimental music playing] 991 00:52:28,560 --> 00:52:29,960 'I don't think anything prepares you' 992 00:52:30,000 --> 00:52:32,200 'for the weight of the responsibility that comes.' 993 00:52:32,280 --> 00:52:34,000 'The only thing that can prepare you' 994 00:52:34,080 --> 00:52:35,800 'is when you feel it the first time.' 995 00:52:38,840 --> 00:52:39,840 In our religion, 996 00:52:44,760 --> 00:52:47,600 ...through this entire time and observing also, is humility. 997 00:52:47,680 --> 00:52:50,360 I have to look back towards my grandparents. 998 00:52:50,520 --> 00:52:51,760 They inspired all of us 999 00:52:51,840 --> 00:52:53,000 to make sure that 1000 00:52:53,080 --> 00:52:55,840 this was a fundamental principle we believed in. 1001 00:52:56,000 --> 00:52:58,360 That's where Adani Foundation started. 1002 00:52:58,480 --> 00:53:00,400 [sentimental music playing] 1003 00:53:02,240 --> 00:53:05,280 I'd always go to old people's homes 1004 00:53:05,360 --> 00:53:07,840 and orphanages when I was younger. 1005 00:53:07,920 --> 00:53:09,760 There are so many people who are dependent. 1006 00:53:09,840 --> 00:53:13,240 How do we make them independent? Especially those in orphanages. 1007 00:53:13,320 --> 00:53:17,880 I connected that with the first time I ever visited Mitti Cafe. 1008 00:53:18,080 --> 00:53:19,360 [music playing] 1009 00:53:20,080 --> 00:53:22,160 'That automatically matured me a lot.' 1010 00:53:22,240 --> 00:53:26,120 Besides just dollars and rupees, it's actually about people. 1011 00:53:26,680 --> 00:53:29,840 We need more entrepreneurs who think about social impact. 1012 00:53:29,960 --> 00:53:31,400 [music playing] 1013 00:53:34,720 --> 00:53:37,360 Mr. Adani is doing so much for our founders. 1014 00:53:37,520 --> 00:53:38,800 So, we too have an obligation 1015 00:53:38,880 --> 00:53:40,240 in light of which, 1016 00:53:40,400 --> 00:53:42,480 we invited Mr. Jeet Adani on the show. 1017 00:53:42,600 --> 00:53:45,800 Our Shark Anupam had a tête-à-tête with him. 1018 00:53:45,880 --> 00:53:48,240 Let's watch a snippet of it. 1019 00:53:54,920 --> 00:53:56,800 and I'm sure, you certainly did not. 1020 00:53:57,080 --> 00:54:00,480 - So, let's welcome Mr. Jeet Adani. - Thank you. 1021 00:54:00,560 --> 00:54:02,600 Jeet, such a pleasure to have you here. 1022 00:54:02,720 --> 00:54:03,960 - Likewise. - Welcome. 1023 00:54:04,040 --> 00:54:06,200 - Do you watch Shark Tank? - One hundred percent. 1024 00:54:06,280 --> 00:54:08,640 A company called Fupro came on the show. 1025 00:54:08,760 --> 00:54:12,280 'Sharks, what you just saw is the future of prosthetics.' 1026 00:54:12,360 --> 00:54:15,600 'Gone are the days when the specially-abled community' 1027 00:54:15,760 --> 00:54:17,960 'was forced to use crutches' 1028 00:54:18,040 --> 00:54:20,360 'or an inferior-quality wooden prosthetic foot.' 1029 00:54:20,440 --> 00:54:22,360 It was so heartening to see 1030 00:54:22,480 --> 00:54:23,520 that in our country, 1031 00:54:23,600 --> 00:54:25,680 people are working on something 1032 00:54:25,760 --> 00:54:27,080 that creates a social impact 1033 00:54:27,160 --> 00:54:29,320 whilst accounting for entrepreneurship. 1034 00:54:29,400 --> 00:54:31,440 I think it's a wonderful cause. Have you met them? 1035 00:54:31,520 --> 00:54:33,880 After watching it, I had to call them. 1036 00:54:33,960 --> 00:54:35,240 I wanted to know more 1037 00:54:35,360 --> 00:54:37,720 besides what products they were making 1038 00:54:37,800 --> 00:54:39,400 and what their thought processes were. 1039 00:54:39,480 --> 00:54:41,440 'After speaking to Nimish and Cyril,' 1040 00:54:41,520 --> 00:54:44,480 'they seemed focused on how to do this sustainably.' 1041 00:54:44,720 --> 00:54:47,840 'They wouldn't donate it just because they'd made it.' 1042 00:54:47,960 --> 00:54:50,200 'Their approach was practical.' 1043 00:54:50,280 --> 00:54:51,880 "Fine, I gave someone a product." 1044 00:54:51,960 --> 00:54:55,400 But our ecosystem demands us to give them independence too. 1045 00:54:55,560 --> 00:54:58,880 If Shark Tank can have this kind of impact in the country 1046 00:54:59,000 --> 00:55:02,120 that big industrialists are meeting up with our pitchers, 1047 00:55:02,280 --> 00:55:03,480 I think we've come a long way. 1048 00:55:03,560 --> 00:55:05,440 - Thank you for making the effort. - No, thank you. 1049 00:55:05,440 --> 00:55:06,480 - I think... - Every... 1050 00:55:06,560 --> 00:55:08,920 - Not everybody acts on how they feel. - Yes. 1051 00:55:09,000 --> 00:55:10,160 You did that. So, amazing. 1052 00:55:10,240 --> 00:55:13,320 In the space of helping the specially-abled, 1053 00:55:13,400 --> 00:55:16,400 that's something very dear to my heart. 1054 00:55:16,600 --> 00:55:19,560 - I'll tell you a little more about that. - Why? I'd love to hear it. 1055 00:55:19,640 --> 00:55:22,360 My grandmother always focused on one thing. 1056 00:55:22,440 --> 00:55:25,120 "How do we truly serve people even if we have nothing?" 1057 00:55:25,280 --> 00:55:26,360 It started with that. 1058 00:55:26,440 --> 00:55:30,280 She would take me to orphanages from the time I was little. 1059 00:55:30,440 --> 00:55:34,760 I had a soft corner. I wanted to do something for them, 1060 00:55:34,840 --> 00:55:36,000 but for the longest time, 1061 00:55:36,080 --> 00:55:38,240 I didn't feel a spark about anything in particular. 1062 00:55:38,360 --> 00:55:40,120 An incident created that spark. 1063 00:55:40,200 --> 00:55:42,200 There's this lady by the name of Alina. 1064 00:55:42,280 --> 00:55:44,720 She runs a venture called Mitti Cafe. 1065 00:55:44,920 --> 00:55:46,800 - Where the differently-abled... - She! Exactly. 1066 00:55:46,880 --> 00:55:49,280 - Where they are hired as staff, right? - Exactly. 1067 00:55:49,360 --> 00:55:50,480 - Exactly. - The same woman. 1068 00:55:50,560 --> 00:55:52,240 She reached out to me saying, 1069 00:55:52,320 --> 00:55:54,840 "I really want to set up something at Mumbai Airport.' 1070 00:55:54,960 --> 00:55:56,880 Of course, I wanted to help out, so I did. 1071 00:55:56,960 --> 00:55:58,560 When I went to the opening, 1072 00:55:58,680 --> 00:56:01,720 all their employees 1073 00:56:01,960 --> 00:56:05,600 wore a smile, had this spark and exuded compassion 1074 00:56:05,800 --> 00:56:08,240 after all the hardship that they'd gone through in life, 1075 00:56:08,320 --> 00:56:09,160 and that moved me. 1076 00:56:09,240 --> 00:56:12,120 - After that incident, you started some sort of... - Yes. 1077 00:56:12,200 --> 00:56:15,840 One thing that was completely in our control 1078 00:56:15,920 --> 00:56:18,200 was how we could give them employment. 1079 00:56:18,320 --> 00:56:22,240 We made a mandate that 5% of our workforce has to be... 1080 00:56:22,440 --> 00:56:24,680 How do we make sure that we hire the specially-abled? 1081 00:56:24,760 --> 00:56:26,400 - Across Adani Group? - Across Adani. 1082 00:56:26,560 --> 00:56:28,160 Lovely. How many employees do you have? 1083 00:56:28,240 --> 00:56:29,720 We have 45,000 employees. 1084 00:56:29,800 --> 00:56:30,800 - Across Adani Group? - Yes. 1085 00:56:30,840 --> 00:56:32,760 - Currently, 5%... - So... 1086 00:56:32,880 --> 00:56:34,880 - We have not reached 5% yet. - But you're on the way. 1087 00:56:34,920 --> 00:56:36,440 - Yes, but we have... - Amazing. 1088 00:56:36,520 --> 00:56:38,160 We're 10x than what we were... 1089 00:56:38,240 --> 00:56:41,760 This is really very inspiring. 1090 00:56:41,840 --> 00:56:42,840 The other thing was, 1091 00:56:42,920 --> 00:56:45,960 how do we increase awareness about this? 1092 00:56:46,160 --> 00:56:49,720 We all believe that we have to be an inclusive India, 1093 00:56:49,800 --> 00:56:51,520 but we have to start at home. 1094 00:56:51,600 --> 00:56:54,320 So, we launched something called GreenX Talks... 1095 00:56:54,400 --> 00:56:56,120 - GreenX Talks! Very interesting. - Exactly. 1096 00:56:56,200 --> 00:56:59,560 Which is centred around superheroes. 1097 00:56:59,640 --> 00:57:01,240 People like Arunima for example. 1098 00:57:01,320 --> 00:57:04,000 Just sharing their life experiences and their stories 1099 00:57:04,120 --> 00:57:06,360 after going through so much hardship 1100 00:57:06,440 --> 00:57:09,880 and then being able to achieve something so extraordinary 1101 00:57:10,160 --> 00:57:12,440 that average people like us can't do... 1102 00:57:12,560 --> 00:57:16,360 And this is something we livestream to our entire workforce. 1103 00:57:16,440 --> 00:57:19,280 You just subconsciously plant that seed in your head. 1104 00:57:19,360 --> 00:57:22,920 - "Don't think of them as different. Think of them as special." - Yes. 1105 00:57:23,000 --> 00:57:25,080 They've weathered through... 1106 00:57:25,160 --> 00:57:29,200 Like they say a metal when exposed to heat, makes it stronger. 1107 00:57:29,280 --> 00:57:31,480 - Hardships make one stronger. - Precisely. 1108 00:57:31,600 --> 00:57:33,040 Yes, that's right. 1109 00:57:33,120 --> 00:57:34,480 Even on Shark Tank, 1110 00:57:34,560 --> 00:57:37,080 a lot of founders are making products for the differently-abled. 1111 00:57:37,160 --> 00:57:40,440 Did you watch the episode where Prathamesh Sinha had come? 1112 00:57:40,600 --> 00:57:42,080 A 10-year-old boy. 1113 00:57:42,160 --> 00:57:44,920 - The company was called Thinkerbell. - Yes. 1114 00:57:45,000 --> 00:57:47,320 - Their product was Annie. - Correct. 1115 00:57:47,400 --> 00:57:50,560 - They were teaching kids to learn Braille on their own. - Yes. 1116 00:57:50,640 --> 00:57:52,040 'If we listen to WHO,' 1117 00:57:52,200 --> 00:57:54,600 '1 out of every 1000 children needs what we make.' 1118 00:57:54,680 --> 00:57:57,400 'Annie is the world's first self-learning' 1119 00:57:57,480 --> 00:58:00,000 'remote-enabled Braille literacy device.' 1120 00:58:00,080 --> 00:58:01,720 'In mainstream regular schools too,' 1121 00:58:01,800 --> 00:58:04,840 'visually-impaired children are able to read without any problem.' 1122 00:58:04,920 --> 00:58:07,000 'Here to give a demo of Annie' 1123 00:58:07,080 --> 00:58:09,840 'is a very special guest Prathamesh Sinha.' 1124 00:58:10,000 --> 00:58:13,480 'Annie isn't just a smart Braille learning device to me' 1125 00:58:13,720 --> 00:58:16,560 'but my best friend and companion too.' 1126 00:58:16,760 --> 00:58:19,760 'With its help, I can learn reading, typing, writing' 1127 00:58:19,880 --> 00:58:22,040 'and vocabulary.' 1128 00:58:22,120 --> 00:58:24,200 He had inspired the entire country. 1129 00:58:24,280 --> 00:58:25,680 - Unbelievable. - It was... 1130 00:58:25,760 --> 00:58:28,560 People fell in love with that boy. 1131 00:58:28,640 --> 00:58:31,680 We were quite surprised to see 1132 00:58:31,800 --> 00:58:34,160 how this one guy was able to hold the attention 1133 00:58:34,240 --> 00:58:35,520 of the country for that episode. 1134 00:58:35,560 --> 00:58:37,520 Anupam, that's the power of Shark Tank. 1135 00:58:38,040 --> 00:58:42,120 Jeet, you spoke about real superheroes. 1136 00:58:42,360 --> 00:58:44,120 You're doing what you can, 1137 00:58:44,200 --> 00:58:47,120 but how can the broader Indian entrepreneurial ecosystem? 1138 00:58:47,200 --> 00:58:49,320 What do you think we could do 1139 00:58:49,440 --> 00:58:52,000 to take this idea even further? 1140 00:58:52,080 --> 00:58:55,200 Entrepreneurship and social impact go hand in hand. 1141 00:58:55,360 --> 00:58:57,960 Take any start-up today 1142 00:58:58,040 --> 00:59:00,320 like Swiggy or a newcomer 1143 00:59:00,400 --> 00:59:02,200 who's starting this year or started last year. 1144 00:59:02,280 --> 00:59:03,280 All small businesses. 1145 00:59:03,360 --> 00:59:05,840 Some of the people who come and pitch to you. 1146 00:59:05,960 --> 00:59:07,480 Everyone has a social impact 1147 00:59:07,560 --> 00:59:09,600 because business, at the end of the day, 1148 00:59:09,680 --> 00:59:10,880 is touching people and lives. 1149 00:59:11,000 --> 00:59:13,520 What really helps is the mindset. 1150 00:59:13,760 --> 00:59:15,880 What do we do in entrepreneurship today? 1151 00:59:15,960 --> 00:59:19,280 We look for a problem, identify it and try to find a solution. 1152 00:59:19,360 --> 00:59:21,880 - If the solution is good, we become successful. - Right. 1153 00:59:22,000 --> 00:59:26,800 If we use the same mindset in the field of disability, 1154 00:59:26,920 --> 00:59:28,280 I think we have... 1155 00:59:28,360 --> 00:59:30,480 And clearly, there have been so many examples. 1156 00:59:30,640 --> 00:59:33,200 But the more we push it, the more we know... 1157 00:59:33,280 --> 00:59:35,640 We just have to reinforce that this has success too. 1158 00:59:35,720 --> 00:59:38,400 I think the only thing it needs is patient capital. 1159 00:59:38,480 --> 00:59:40,320 It is something which will take time, 1160 00:59:40,400 --> 00:59:42,680 but the impact will be real and on ground. 1161 00:59:42,760 --> 00:59:44,800 There should be some sort of movement 1162 00:59:45,040 --> 00:59:47,640 where we can fund the differently-challenged 1163 00:59:47,760 --> 00:59:50,240 and the differently-abled, 1164 00:59:50,360 --> 00:59:53,120 or should we bring products into the market 1165 00:59:53,200 --> 00:59:56,560 or do what you did? Reserve 5%. 1166 00:59:56,680 --> 00:59:58,280 What do you think will have the most impact? 1167 00:59:58,280 --> 01:00:00,640 I think the most impactful would be 1168 01:00:00,800 --> 01:00:04,080 - supporting by funding them, not as charity... - Yes. 1169 01:00:04,160 --> 01:00:05,920 As a genuine business, you fund them. 1170 01:00:06,000 --> 01:00:08,520 The tougher part is identifying 1171 01:00:08,600 --> 01:00:11,040 and inspiring people to start this 1172 01:00:11,120 --> 01:00:12,640 and look at this problem too. 1173 01:00:12,880 --> 01:00:14,720 This is your favourite show. 1174 01:00:14,800 --> 01:00:17,560 Also, it is now your favourite cause 1175 01:00:17,640 --> 01:00:19,840 - to support the differently-abled. - Yes. 1176 01:00:20,040 --> 01:00:22,880 How do we bring the favourite show as well as cause together then? 1177 01:00:22,960 --> 01:00:26,160 I think it'd be interesting to do an episode 1178 01:00:26,280 --> 01:00:28,320 only centred around 1179 01:00:28,440 --> 01:00:31,600 what we can do for differently-abled entrepreneurs 1180 01:00:31,680 --> 01:00:33,720 as well as entrepreneurs working for the differently-abled. 1181 01:00:33,760 --> 01:00:35,560 - Like a special episode? - Yes. 1182 01:00:35,680 --> 01:00:36,600 Wonderful idea. 1183 01:00:36,680 --> 01:00:38,560 Your company has a tagline. 1184 01:00:38,640 --> 01:00:39,680 We Make It Possible. 1185 01:00:39,800 --> 01:00:41,120 - Is that right? - Yes. 1186 01:00:41,360 --> 01:00:43,720 If you want to do this, 1187 01:00:43,800 --> 01:00:47,280 there is only one condition, not a challenge I'd say. 1188 01:00:47,360 --> 01:00:48,840 - You'll have to come. - Done. 1189 01:00:48,920 --> 01:00:50,240 - If you accept... Done? - Done. 1190 01:00:50,320 --> 01:00:51,880 - All right, fantastic. - [laughs] 1191 01:00:52,000 --> 01:00:54,360 You'll come as a Shark or you'll come as a... 1192 01:00:54,440 --> 01:00:55,680 What will you come as? 1193 01:00:55,760 --> 01:00:57,240 I'll come as whatever you say. 1194 01:00:57,480 --> 01:01:00,000 Jeet has agreed to come on Shark Tank. 1195 01:01:00,320 --> 01:01:02,520 He's agreed that he'll come as whatever I say. 1196 01:01:02,600 --> 01:01:03,960 So, I think he should be a Shark. 1197 01:01:04,080 --> 01:01:07,800 - Then you'll take all the deals. What will we do? - [laughs] 1198 01:01:07,880 --> 01:01:09,120 That could be a problem. 1199 01:01:10,160 --> 01:01:13,520 And you're so passionate about it, you might end up funding them all. 1200 01:01:13,680 --> 01:01:15,760 I don't want more competition. 1201 01:01:16,320 --> 01:01:18,360 - I have a suggestion. - Please. 1202 01:01:18,880 --> 01:01:21,000 You come as a mentor and guide 1203 01:01:21,280 --> 01:01:24,240 because you're doing such a lot. 1204 01:01:24,520 --> 01:01:26,720 I don't think you should be sitting on a chair 1205 01:01:26,800 --> 01:01:28,120 just being a Shark. 1206 01:01:28,200 --> 01:01:31,400 I think you can shape the direction of that episode 1207 01:01:31,480 --> 01:01:33,200 - and the founders who come there. - Sure. 1208 01:01:33,280 --> 01:01:34,800 Absolutely, it'll be my pleasure. 1209 01:01:34,920 --> 01:01:36,880 The question remains, when will we do it? 1210 01:01:37,120 --> 01:01:38,880 - You're getting married. - Yes. 1211 01:01:38,960 --> 01:01:40,600 - When is it? - 7 February. 1212 01:01:40,680 --> 01:01:41,760 Do it before marriage 1213 01:01:41,840 --> 01:01:45,200 - because then she can say, she also married a star. - Shark. 1214 01:01:45,320 --> 01:01:46,360 Married a Shark. 1215 01:01:46,520 --> 01:01:48,520 Yes. A TV star, exactly. 1216 01:01:48,720 --> 01:01:50,760 - I think it'd be better if you did it before. - Yes. 1217 01:01:50,760 --> 01:01:53,880 Since we're talking about marriage, how did you meet your to-be? 1218 01:01:54,000 --> 01:01:57,240 - I actually met her through a family friend. - Okay. 1219 01:01:57,320 --> 01:01:59,200 Was that family friend Shaadi.com? 1220 01:01:59,440 --> 01:02:00,800 No, it wasn't. 1221 01:02:00,880 --> 01:02:02,080 - You've already lost. - That... 1222 01:02:02,320 --> 01:02:03,400 There is a story. 1223 01:02:03,480 --> 01:02:06,640 - In middle school, in grade seven or eight... - Yes. 1224 01:02:07,000 --> 01:02:07,920 You know how boys are. 1225 01:02:08,000 --> 01:02:11,960 We were just messing around and pranking each other. 1226 01:02:12,080 --> 01:02:13,800 So, one of my friends has... 1227 01:02:14,160 --> 01:02:15,480 If you go on your website, 1228 01:02:15,600 --> 01:02:18,080 there is a profile for Jeet Adani set up. 1229 01:02:18,480 --> 01:02:20,520 - No way. - I have no idea 1230 01:02:20,720 --> 01:02:23,720 who has the email, which phone number is... But it's there. 1231 01:02:23,800 --> 01:02:27,360 I've been trying my level best to delete that profile. 1232 01:02:27,440 --> 01:02:30,800 I'm getting married and I have a profile on Shaadi.com. 1233 01:02:31,080 --> 01:02:32,680 So, that is my request to you. 1234 01:02:32,760 --> 01:02:34,240 - Please. - I'll delete the profile, 1235 01:02:34,320 --> 01:02:36,000 but first, let's tell them the real story. 1236 01:02:36,120 --> 01:02:38,000 - What's your fiancée's name? - Diva. 1237 01:02:38,240 --> 01:02:41,160 I think Jeet made the profile himself 1238 01:02:41,240 --> 01:02:43,360 and now, he's pinning it on his friends. 1239 01:02:43,440 --> 01:02:47,200 And then, he was fortunate and lucky to meet Diva 1240 01:02:47,280 --> 01:02:49,200 - but he forgot to delete his profile. - Yes. 1241 01:02:49,400 --> 01:02:50,480 [both laugh] 1242 01:02:50,840 --> 01:02:54,160 He's asking me to delete it on TV. It'll be done. 1243 01:02:54,400 --> 01:02:55,920 - There's no running from this. - Exactly. 1244 01:02:55,960 --> 01:02:57,240 You're coming on Shark Tank too. 1245 01:02:57,320 --> 01:02:58,800 So, this will be the second condition. 1246 01:02:58,840 --> 01:03:00,800 - I'll take down your profile after you come. - Done. 1247 01:03:00,800 --> 01:03:02,040 - Done, sir. - All right. 1248 01:03:02,120 --> 01:03:03,240 - This is great. - Thank you. 1249 01:03:03,320 --> 01:03:05,400 So, guys, as you can see, 1250 01:03:05,520 --> 01:03:08,160 Jeet and I can continue talking forever. 1251 01:03:08,440 --> 01:03:09,560 The fun will continue 1252 01:03:09,640 --> 01:03:11,120 but let's leave 1253 01:03:11,680 --> 01:03:16,840 some things for the special episode of Shark Tank India. 1254 01:03:16,920 --> 01:03:18,720 As he has promised to be there, 1255 01:03:18,880 --> 01:03:20,920 we'll talk about a lot of things. 1256 01:03:21,200 --> 01:03:23,400 Thank you for inspiring us 1257 01:03:23,480 --> 01:03:26,040 with this wonderful cause of yours. 1258 01:03:26,160 --> 01:03:28,440 More power to you. Keep it up. 1259 01:03:28,520 --> 01:03:31,680 Join us, let's make this bigger. 1260 01:03:31,840 --> 01:03:32,960 - Thank you so much. - Thank you. 1261 01:03:33,000 --> 01:03:34,000 A big salute! 1262 01:03:51,360 --> 01:03:52,920 [theme music playing] 1263 01:04:11,800 --> 01:04:14,040 Sharks, what is happiness? 1264 01:04:14,160 --> 01:04:15,960 We were struggling to find the answer to that. 1265 01:04:15,960 --> 01:04:18,760 In the quest for the answer, 1266 01:04:18,840 --> 01:04:23,120 seven years ago, we let go 1267 01:04:23,320 --> 01:04:25,240 of our house, jobs and our people 1268 01:04:25,320 --> 01:04:28,000 to settle down in the Nilgiri hills, 1269 01:04:28,360 --> 01:04:31,000 hoping to find what we were looking for. 1270 01:04:31,080 --> 01:04:34,080 We didn't find an answer in the hills. 1271 01:04:34,160 --> 01:04:36,760 But we found a purpose. 1272 01:04:36,840 --> 01:04:40,560 The women of the indigenous communities 1273 01:04:40,680 --> 01:04:42,320 we were living with 1274 01:04:42,480 --> 01:04:45,880 didn't have a steady source of income. 1275 01:04:45,960 --> 01:04:50,840 Hence, we merged our craft skills with their labour skills 1276 01:04:50,920 --> 01:04:53,320 and made The Good Doll. 1277 01:04:54,800 --> 01:04:58,200 After some time passed, we realised 1278 01:04:58,320 --> 01:05:00,960 that you can find happiness 1279 01:05:01,040 --> 01:05:03,480 in your purpose. 1280 01:05:04,080 --> 01:05:07,040 - Namaste, Sharks. I am Suhas. - I am Sunita. 1281 01:05:14,600 --> 01:05:16,440 They want to play with those. 1282 01:05:16,960 --> 01:05:19,520 But those dolls don't look like us. 1283 01:05:20,600 --> 01:05:22,640 It is setting up an unrealistic beauty standard 1284 01:05:22,720 --> 01:05:25,960 in the minds of our Indian children. 1285 01:05:26,360 --> 01:05:29,560 It negatively impacts 1286 01:05:29,680 --> 01:05:32,040 our children's psychology 1287 01:05:32,360 --> 01:05:36,000 as well as our environment. 1288 01:05:36,080 --> 01:05:40,640 Around 90 per cent of the toy industry uses plastic, 1289 01:05:40,720 --> 01:05:42,760 which ends up in landfills. 1290 01:05:48,080 --> 01:05:52,120 These dolls are made of upcycled fabrics. 1291 01:05:52,200 --> 01:05:55,680 They are also known as rag dolls. 1292 01:06:16,920 --> 01:06:19,640 That is why we believe they are good dolls. 1293 01:06:19,720 --> 01:06:22,920 These are good for the 32,000 children 1294 01:06:23,080 --> 01:06:24,560 who are playing with them. 1295 01:06:24,640 --> 01:06:28,640 They are also good for the 100 women who make them. 1296 01:06:29,040 --> 01:06:31,240 Finally, they are equally good for our planet. 1297 01:06:32,240 --> 01:06:35,120 Our vision for Good Doll 1298 01:06:35,200 --> 01:06:37,560 is to inspire our children 1299 01:06:37,640 --> 01:06:39,960 with an Indian character. 1300 01:06:40,040 --> 01:06:43,800 The number of women making them 1301 01:06:43,880 --> 01:06:47,320 should go up to 20,000 from 100. 1302 01:06:47,600 --> 01:06:50,680 To achieve that, our ask is 1303 01:06:50,880 --> 01:06:54,120 Rs 50 lakh for 5 per cent equity. 1304 01:07:00,480 --> 01:07:02,840 [mellow music playing] 1305 01:07:03,560 --> 01:07:05,280 - This one's for you. - Oh! How nice! 1306 01:07:05,360 --> 01:07:06,120 - Wow! - Thank you. 1307 01:07:06,200 --> 01:07:07,800 - Oh! Sugar! - This one's for you. 1308 01:07:07,920 --> 01:07:10,040 - How beautiful! - So cute! 1309 01:07:10,120 --> 01:07:11,480 Amazing! 1310 01:07:15,480 --> 01:07:19,160 I like that you've put the brand name on the doll. 1311 01:07:19,240 --> 01:07:21,640 - Very nice. - It has Sugar on it, too. - How nice! 1312 01:07:22,600 --> 01:07:24,560 [joyful music playing] 1313 01:07:24,640 --> 01:07:27,040 I am glad you've given this doll so much hair. 1314 01:07:28,960 --> 01:07:30,800 I think my doll's very nice. 1315 01:07:30,880 --> 01:07:31,880 Thank you, ma'am. 1316 01:07:32,320 --> 01:07:34,640 On your packaging, you've written this. 1317 01:07:34,720 --> 01:07:37,520 'In your hand is a piece of the blue mountains.' 1318 01:07:37,600 --> 01:07:39,440 Along with that, you've mentioned words like rural, 1319 01:07:39,480 --> 01:07:42,600 women and indigenous communities. 1320 01:07:42,680 --> 01:07:44,800 Very nice! I like that. 1321 01:07:44,920 --> 01:07:46,000 - Thank you. - Thank you. 1322 01:07:46,400 --> 01:07:48,600 Can you explain the concept of a rag doll? 1323 01:07:48,680 --> 01:07:51,320 Rag means cloth. 1324 01:07:51,720 --> 01:07:54,360 This cloth has to be old. 1325 01:07:54,440 --> 01:07:58,880 So, a doll made from household fabrics is called a rag doll. 1326 01:07:58,960 --> 01:08:01,880 Rag doll's philosophy is that 1327 01:08:02,000 --> 01:08:05,080 you can't put anything inside it which can harm the kid. 1328 01:08:05,160 --> 01:08:07,160 You should be able to hold and cuddle with it. 1329 01:08:07,240 --> 01:08:10,200 It should give a lot of comfort. 1330 01:08:10,320 --> 01:08:13,000 Suhas and Sunita, please tell us your story. 1331 01:08:13,120 --> 01:08:14,640 I was born in Mysore. 1332 01:08:14,760 --> 01:08:16,120 I am from West Bengal. 1333 01:08:17,040 --> 01:08:20,880 Both of us were born in a typical middle-class family. 1334 01:08:20,960 --> 01:08:24,120 We were raised alongside inadequacies. 1335 01:08:24,200 --> 01:08:26,840 But when we got our jobs in the corporate, 1336 01:08:26,920 --> 01:08:28,560 we earned a lot of money. 1337 01:08:28,680 --> 01:08:31,120 To fulfil the inadequacies 1338 01:08:31,200 --> 01:08:33,720 of our childhood, 1339 01:08:33,800 --> 01:08:37,160 we started walking on the path of consumerism overdrive. 1340 01:08:37,240 --> 01:08:39,800 We thought it would make us happy. 1341 01:08:39,920 --> 01:08:43,920 After 13 to 15 years, we realised it wasn't making us happy. 1342 01:08:44,040 --> 01:08:46,120 That's when we decided 1343 01:08:46,200 --> 01:08:48,600 to resign and leave the city. 1344 01:08:48,680 --> 01:08:50,480 That's when we shifted to the Nilgiris. 1345 01:08:50,560 --> 01:08:53,400 Please tell us where you worked during your corporate life. 1346 01:08:53,480 --> 01:08:55,520 I've worked with two banks, 1347 01:08:55,640 --> 01:08:57,080 Bank of America and Wells Fargo Bank. 1348 01:08:57,160 --> 01:08:58,040 I was in HR. 1349 01:08:58,120 --> 01:09:01,120 My last company was Shell. 1350 01:09:01,240 --> 01:09:03,520 I was their Head of Recruitment for India. 1351 01:09:03,600 --> 01:09:05,120 I was working in Accenture. 1352 01:09:05,200 --> 01:09:07,800 Being in BPO, I used to handle operations. 1353 01:09:07,920 --> 01:09:09,640 Was there a turning point in your life? 1354 01:09:09,720 --> 01:09:11,720 It was a long process. 1355 01:09:11,840 --> 01:09:15,480 We had been doing the same work for 12 years in the city. 1356 01:09:15,560 --> 01:09:17,600 We were not growing as human beings. 1357 01:09:17,680 --> 01:09:19,640 We also had a young son. 1358 01:09:20,440 --> 01:09:23,920 He's not young anymore. He was 10 years old then. He's 17 now. 1359 01:09:24,040 --> 01:09:27,160 I wanted him to experience life. 1360 01:09:27,240 --> 01:09:29,120 To experience life, 1361 01:09:29,200 --> 01:09:33,080 we must leave the cocoon we built for ourselves in the city. 1362 01:09:33,840 --> 01:09:35,880 So, we chose to live off the grid 1363 01:09:35,960 --> 01:09:38,040 in the Nilgiris. 1364 01:09:38,880 --> 01:09:42,320 We built our home with our hands. 1365 01:09:42,520 --> 01:09:44,520 Nobody lived within a radius of 3 kilometres of our house. 1366 01:09:44,560 --> 01:09:46,840 The nearest village was 3 kilometres away. 1367 01:09:46,920 --> 01:09:51,600 We were growing our food. We would harvest water from the streams. 1368 01:09:51,680 --> 01:09:53,600 We harvested electricity using solar energy. 1369 01:09:53,680 --> 01:09:57,560 Many elephants, bears, etc, would live around us. 1370 01:09:57,720 --> 01:10:00,200 We were also surrounded by those indigenous people. 1371 01:10:00,280 --> 01:10:02,000 We were living that life. 1372 01:10:02,120 --> 01:10:03,800 We lived like that for two years, 1373 01:10:03,880 --> 01:10:05,120 all three of us. 1374 01:10:05,200 --> 01:10:07,120 - What's that? - Is that the house you built? 1375 01:10:07,200 --> 01:10:08,720 - Yes. - You've constructed this house. 1376 01:10:08,840 --> 01:10:10,960 - We built it ourselves. - Did you paint it, as well? 1377 01:10:11,760 --> 01:10:13,880 - I am merely asking. - Yes. 1378 01:10:14,000 --> 01:10:16,960 - Really? - That's how houses are painted there. 1379 01:10:17,080 --> 01:10:20,120 What was your takeaway after living like that 1380 01:10:20,200 --> 01:10:21,480 for two years? 1381 01:10:21,560 --> 01:10:24,440 Sir, we left planning 1382 01:10:24,560 --> 01:10:25,840 when we moved here. 1383 01:10:25,920 --> 01:10:29,120 We had a mutual understanding 1384 01:10:29,200 --> 01:10:31,600 of not planning a lot. 1385 01:10:31,720 --> 01:10:33,680 We wanted to live off the grid. 1386 01:10:33,800 --> 01:10:36,800 We wanted to spend time with each other 1387 01:10:36,880 --> 01:10:38,560 and look inwards 1388 01:10:38,640 --> 01:10:40,480 to see what makes us happy. 1389 01:10:40,560 --> 01:10:43,160 It was an experiment of sorts. 1390 01:10:43,240 --> 01:10:46,360 But who among you wanted to go? 1391 01:10:48,000 --> 01:10:50,960 It was Sunita's ideation and my execution. 1392 01:10:51,040 --> 01:10:54,600 What was your reaction when she told you about it first? 1393 01:10:54,720 --> 01:10:56,720 - He called me crazy. - Did he say that? 1394 01:10:57,120 --> 01:10:58,120 Yes. 1395 01:10:58,160 --> 01:11:00,880 The first thing that came to me was typical. 1396 01:11:01,040 --> 01:11:04,160 - What? - What will my parents say? 1397 01:11:04,240 --> 01:11:05,720 - Correct. - What will my friends say? 1398 01:11:05,720 --> 01:11:08,240 - How long did you take to convince him? - Two months. 1399 01:11:08,560 --> 01:11:11,880 - Not bad! - Not bad! - You must've threatened to leave. 1400 01:11:12,360 --> 01:11:14,880 - 'I am leaving.' Did you say that? - Did you give an ultimatum? 1401 01:11:14,880 --> 01:11:17,640 Not really, but she's demanding. 1402 01:11:18,000 --> 01:11:21,360 Wow! You could've designed your clothes. Why did you wear this? 1403 01:11:21,440 --> 01:11:23,560 - I am a Master Tailor. - Oh, my! 1404 01:11:24,240 --> 01:11:26,760 - Wow! - When we started working, 1405 01:11:26,880 --> 01:11:29,760 I was already a professional quilter. 1406 01:11:29,840 --> 01:11:31,920 I started teaching quilting. 1407 01:11:32,000 --> 01:11:34,640 Reaching this point has been a journey. 1408 01:11:34,720 --> 01:11:36,320 Good Doll didn't appear through thin air. 1409 01:11:36,360 --> 01:11:37,920 It took a lot of time. 1410 01:11:38,000 --> 01:11:42,160 - Before that... - Suhas, you're amazing. 1411 01:11:42,280 --> 01:11:43,600 All credit goes to him. 1412 01:11:43,680 --> 01:11:45,720 You're giving him the credit when I deserve it more. 1413 01:11:45,800 --> 01:11:47,880 Oh! 1414 01:11:48,280 --> 01:11:52,160 - Good one! - Well done, Sunita! - Stand up for your rights. 1415 01:11:52,800 --> 01:11:54,800 A woman who speaks her mind! 1416 01:11:54,920 --> 01:11:56,920 A man who understands the other guy! 1417 01:11:57,480 --> 01:12:00,400 Maya Angelou says, 'One woman stands up!' 1418 01:12:00,480 --> 01:12:03,240 'She stands up for a very large group of women.' 1419 01:12:03,320 --> 01:12:05,480 - Amazing! - Nice! Super! 1420 01:12:05,600 --> 01:12:08,880 On that note, I have a question. Don't you have male dolls? 1421 01:12:08,960 --> 01:12:11,240 - They have male dolls. - Yes. We've got it. 1422 01:12:11,360 --> 01:12:13,800 When we started making dolls, 1423 01:12:13,920 --> 01:12:16,680 the genders were equally divided. 1424 01:12:16,800 --> 01:12:18,840 However, our audience showed us 1425 01:12:18,920 --> 01:12:20,960 that 80 per cent of female dolls were sold, 1426 01:12:21,040 --> 01:12:22,960 as compared to 20 per cent male dolls. 1427 01:12:23,040 --> 01:12:24,440 That's why it decreased. 1428 01:12:24,520 --> 01:12:26,480 The colour inclusivity 1429 01:12:26,560 --> 01:12:29,920 was equally divided between dark or tanned skin 1430 01:12:30,000 --> 01:12:32,680 and light-skinned. 1431 01:12:32,760 --> 01:12:34,520 But the market pushed us 1432 01:12:34,600 --> 01:12:36,840 - to making only 15 per cent of dark dolls. - Oh, my God! 1433 01:12:36,920 --> 01:12:40,920 - In fact, nobody buys dark dolls in Mumbai. - Really? 1434 01:12:41,000 --> 01:12:44,040 They tell us to avoid bringing dark dolls. 1435 01:12:44,240 --> 01:12:47,440 I understand dolls. What are Hanimals and Nilah? 1436 01:12:48,760 --> 01:12:51,480 Nilah is our new trending doll. 1437 01:12:51,600 --> 01:12:53,200 We belong to Nilgiri. 1438 01:12:53,280 --> 01:12:55,080 It is also called the Blue Mountain. 1439 01:12:55,160 --> 01:12:58,200 It is called that because 1440 01:12:58,280 --> 01:13:03,320 a blue flower called 'kurinji' blooms once every 12 years. 1441 01:13:03,520 --> 01:13:06,200 That covers the entire mountain blue. 1442 01:13:06,280 --> 01:13:09,240 So, Nilah was born that year. 1443 01:13:09,360 --> 01:13:12,920 Thus, her parents named her Nilah. She is a mountain girl. 1444 01:13:13,880 --> 01:13:15,480 Tell me the biggest Indian doll. 1445 01:13:15,560 --> 01:13:17,640 - There is no Indian doll right now. - None. 1446 01:13:18,120 --> 01:13:20,760 Our competitor is Barbie. 1447 01:13:20,840 --> 01:13:23,360 Is Barbie 90 per cent of the market? 1448 01:13:23,440 --> 01:13:26,560 - 99 per cent. It's either Barbie or her look alike. - Yeah. 1449 01:13:26,640 --> 01:13:30,080 When we launched these in the market, 1450 01:13:30,320 --> 01:13:33,200 everyone started calling us Indian Barbie. 1451 01:13:33,920 --> 01:13:36,200 - Tell us Hanimal's story. - Sure. 1452 01:13:36,600 --> 01:13:38,520 80 per cent of Nilgiris is a forest. 1453 01:13:38,640 --> 01:13:42,080 Many animals in the forest are Nilah's friends. 1454 01:13:43,160 --> 01:13:45,840 We didn't want to show them as animals. 1455 01:13:45,960 --> 01:13:48,640 We wanted to clothe the animals, as well, 1456 01:13:48,720 --> 01:13:51,240 because children's imagination tends to go wild. 1457 01:13:51,360 --> 01:13:53,480 That is why we came up with Hanimals. 1458 01:13:53,600 --> 01:13:55,720 Also, from a production standpoint, 1459 01:13:55,800 --> 01:13:58,000 it helps us standardise 1460 01:13:58,080 --> 01:13:59,800 - because all the 12-inch dolls are the same. - Same bodies! 1461 01:13:59,840 --> 01:14:01,000 - The bodies are the same. - Yes. 1462 01:14:01,040 --> 01:14:03,000 That's how we can control the SKUs 1463 01:14:03,080 --> 01:14:05,160 - when it comes to garments. - So, that was the idea. 1464 01:14:05,280 --> 01:14:08,160 Garments are our core. 1465 01:14:08,600 --> 01:14:10,800 What is the price of this? 1466 01:14:10,880 --> 01:14:13,600 The one you're holding is worth Rs 650. 1467 01:14:13,880 --> 01:14:17,080 What is the price of her clothes? If I have to buy this dress, 1468 01:14:17,200 --> 01:14:19,560 - how much will it be worth? - That dress comes with a bag. 1469 01:14:19,680 --> 01:14:20,960 That costs Rs 450. 1470 01:14:21,040 --> 01:14:23,440 - What are the sizes of your dolls? - Three. 1471 01:14:23,520 --> 01:14:25,880 - 12 inches, 9 inches, and? - 12 inches, 9 inches, 7 inches. 1472 01:14:29,120 --> 01:14:31,760 We incorporated it towards the end of 2021. 1473 01:14:31,840 --> 01:14:33,800 We earned Rs 6.5 lakhs. 1474 01:14:33,920 --> 01:14:36,200 Is this FY 2022 or FY 2023? 1475 01:14:36,400 --> 01:14:38,120 FY 2022. 1476 01:14:38,440 --> 01:14:40,840 Then, we earned Rs 17.5 lakhs in FY 2023. 1477 01:14:40,960 --> 01:14:43,640 In FY 2024, we earned Rs 70 lakhs. 1478 01:14:43,760 --> 01:14:46,400 This year, we've earned Rs 50 lakhs so far. 1479 01:14:46,480 --> 01:14:48,360 What is your projection for the year, Suhas? 1480 01:14:48,440 --> 01:14:50,800 Rs 1.2 crores to Rs 1.5 crores. 1481 01:14:50,880 --> 01:14:52,440 Where do you sell these? 1482 01:14:58,920 --> 01:15:02,200 We're selling them in around 50 stores. 1483 01:15:03,240 --> 01:15:04,840 Are these toy stores? 1484 01:15:04,920 --> 01:15:06,600 Concept and lifestyle stores. 1485 01:15:06,680 --> 01:15:08,000 You don't sell online. 1486 01:15:08,080 --> 01:15:09,920 We are in some online marketplaces 1487 01:15:16,840 --> 01:15:18,040 Like Amazon? We're not there 1488 01:15:18,120 --> 01:15:20,520 because Amazon has a different customer segment. 1489 01:15:20,680 --> 01:15:22,720 We have to make a separate range for them. 1490 01:15:22,840 --> 01:15:25,720 Why? The cost is not too high. Right? 1491 01:15:25,800 --> 01:15:28,560 No, the size... 1492 01:15:28,640 --> 01:15:31,520 List it there. Who knows? People might buy it. 1493 01:15:31,600 --> 01:15:34,320 - We have listed it on Amazon. - It didn't get sold. 1494 01:15:35,000 --> 01:15:38,480 Unless you do performance marketing, Amazon doesn't start 1495 01:15:38,560 --> 01:15:41,280 - the sales. - How much do you spend on the website? 1496 01:15:42,320 --> 01:15:44,000 We don't spend anything on the website. 1497 01:15:44,080 --> 01:15:46,240 Only returning customers visit the website. 1498 01:15:49,760 --> 01:15:51,400 Is this a profitable business? 1499 01:15:51,480 --> 01:15:52,840 We are in negative right now. 1500 01:15:53,440 --> 01:15:56,120 So far, we have burnt Rs 13 lakhs 1501 01:15:56,280 --> 01:15:57,600 for the 50 lakhs that we have. 1502 01:15:57,680 --> 01:15:58,800 How much was it last year? 1503 01:15:58,880 --> 01:16:00,200 The burn was Rs 6 lakhs. 1504 01:16:00,280 --> 01:16:02,600 - Before that? - It was Rs 22 lakhs. 1505 01:16:02,680 --> 01:16:05,400 - We have also given a raise. - Oh! You've raised. - Tell us that. 1506 01:16:05,480 --> 01:16:06,160 Wow! 1507 01:16:06,240 --> 01:16:09,160 In 2022, Mr Nithin from Zerodha 1508 01:16:09,240 --> 01:16:11,760 was the first to give us money. 1509 01:16:11,840 --> 01:16:14,160 - How much did Nithin invest? - Rs 40 lakhs. 1510 01:16:14,240 --> 01:16:16,440 - What was the valuation? - Rs 3 crores. 1511 01:16:16,520 --> 01:16:20,080 After that, our friends and family lent us Rs 25 lakhs 1512 01:16:20,160 --> 01:16:21,680 at 5 per cent and 1 per cent. 1513 01:16:21,760 --> 01:16:24,160 Recently, the Villgro Foundation 1514 01:16:24,240 --> 01:16:26,520 gave us Rs 35 lakhs as a convertible. 1515 01:16:26,600 --> 01:16:29,560 We also raised an equity-linked grant from the government. 1516 01:16:29,680 --> 01:16:30,880 The Tamil Nadu government took 1517 01:16:30,880 --> 01:16:32,800 3 per cent for a grant of Rs 15 lakhs. 1518 01:16:39,480 --> 01:16:41,280 Sir, the ones we are doing this for... 1519 01:16:41,400 --> 01:16:43,840 - That makes you happy. - Immensely! 1520 01:16:43,920 --> 01:16:45,800 How much do the women earn from this? 1521 01:16:45,880 --> 01:16:48,560 Anywhere between Rs 8,000 to Rs 20,000. 1522 01:16:53,000 --> 01:16:56,160 But you're running a business now. You might have a business plan now. 1523 01:16:56,240 --> 01:16:57,280 For the business, yes. 1524 01:16:57,440 --> 01:16:58,720 What is your plan? 1525 01:17:19,680 --> 01:17:21,960 - It's also an inspiring story. - Thank you so much. 1526 01:17:22,040 --> 01:17:25,640 Full credit to you. I'm a big fan. 1527 01:17:25,880 --> 01:17:29,160 I believe it is a good business. 1528 01:17:31,760 --> 01:17:36,480 is to help artisans, girls and women, in these villages. 1529 01:17:36,560 --> 01:17:39,320 Thus, you might not be able to give it an acceleration. 1530 01:17:40,280 --> 01:17:42,480 There is a limiting factor here 1531 01:17:42,560 --> 01:17:46,640 in the number of dolls you can make and their demand. 1532 01:17:47,680 --> 01:17:50,800 You have to go through a discovery process 1533 01:17:50,880 --> 01:17:52,720 to scale up this business. 1534 01:17:52,800 --> 01:17:55,640 I cannot see how it will scale up. 1535 01:17:56,280 --> 01:17:58,760 That doesn't mean something is wrong with your purpose 1536 01:17:58,880 --> 01:18:00,320 or your progress. 1537 01:18:00,440 --> 01:18:02,760 However, as an investor, my expectations 1538 01:18:02,840 --> 01:18:05,480 of any business are different. 1539 01:18:06,200 --> 01:18:08,800 But if you need any help, 1540 01:18:08,880 --> 01:18:11,120 - reach out to me. I'd love to help you. - Sure. 1541 01:18:11,120 --> 01:18:13,360 - Today, I am out. - Thank you. - Thank you so much. 1542 01:18:13,560 --> 01:18:14,560 Suhas 1543 01:18:14,640 --> 01:18:15,520 and Sunita, 1544 01:18:15,600 --> 01:18:18,560 In my opinion, you're trying to do 1545 01:18:18,640 --> 01:18:22,160 three things together, and it's too much. 1546 01:18:28,080 --> 01:18:29,400 But this, 1547 01:18:29,600 --> 01:18:34,200 with inclusivity and women empowerment, 1548 01:18:34,440 --> 01:18:38,360 might not work together. 1549 01:18:38,400 --> 01:18:41,440 If this doll is too different 1550 01:18:41,440 --> 01:18:43,880 than the one I am playing with, 1551 01:18:44,000 --> 01:18:46,000 it might not be able to scale online. 1552 01:18:46,080 --> 01:18:47,920 If it doesn't scale online, 1553 01:18:48,080 --> 01:18:50,560 you cannot provide employment to 20,000 women. 1554 01:18:52,200 --> 01:18:53,520 So, from these three, 1555 01:18:53,560 --> 01:18:57,160 - I feel you might have to choose two battles. 1556 01:18:57,200 --> 01:18:58,240 - Okay. - One battle. 1557 01:18:58,240 --> 01:19:00,240 If you try to do all three, 1558 01:19:00,280 --> 01:19:04,240 you may not be able to fulfil the vision of reaching 20,000 women. 1559 01:19:05,200 --> 01:19:07,040 That is evident in your numbers. 1560 01:19:07,120 --> 01:19:09,680 We will face immense loss at this scale 1561 01:19:09,720 --> 01:19:11,960 as it hasn't reached Rs 10 lakhs monthly. 1562 01:19:12,200 --> 01:19:14,760 It isn't investible for me at this moment. However, best of luck. 1563 01:19:14,800 --> 01:19:16,200 - Thank you. - Thank you. 1564 01:19:18,080 --> 01:19:20,600 I think you need to make a story 1565 01:19:20,640 --> 01:19:22,360 to make this a scalable brand. 1566 01:19:22,360 --> 01:19:25,360 Only distribution and sales won't make it a brand. 1567 01:19:26,040 --> 01:19:28,640 You have to create content. 1568 01:19:28,720 --> 01:19:31,240 You need a story 1569 01:19:31,320 --> 01:19:33,200 around Nilah. 1570 01:19:33,360 --> 01:19:35,920 - That will be a heroine character. - Right. 1571 01:19:35,920 --> 01:19:38,520 - Not hero product! It will be your heroine product. - Yes. 1572 01:19:42,840 --> 01:19:44,680 - That is a long-term journey. - Yes. 1573 01:19:44,880 --> 01:19:47,440 At this point, it's not an investible business. 1574 01:19:48,200 --> 01:19:50,520 The simple reason is that the scale is too small, 1575 01:19:50,560 --> 01:19:52,800 and your ask of Rs 10 crores is too high. 1576 01:19:54,000 --> 01:19:58,080 As an investor, I don't think this business is for me right now. 1577 01:19:58,120 --> 01:20:01,360 - It's too early. So, I'm out. - Thank you. 1578 01:20:01,600 --> 01:20:04,240 Suhas and Sunita, I genuinely like you both. 1579 01:20:04,440 --> 01:20:06,360 - I enjoyed meeting you. - Thank you. 1580 01:20:12,360 --> 01:20:14,360 It could be like a grant, 1581 01:20:14,640 --> 01:20:18,200 or a foundation. Companies invest in those, and so do I. 1582 01:20:18,560 --> 01:20:20,840 But as a Shark over here, 1583 01:20:20,840 --> 01:20:25,640 I cannot expect returns from this. 1584 01:20:27,040 --> 01:20:28,920 Keep doing good work. 1585 01:20:29,360 --> 01:20:31,760 Thank you. I will be out, but I wish you all the best. 1586 01:20:33,400 --> 01:20:35,680 Your work towards the Indian doll 1587 01:20:35,720 --> 01:20:38,440 is a massive business opportunity. 1588 01:20:38,600 --> 01:20:40,800 I've not added your impact perspective to it yet. 1589 01:20:41,920 --> 01:20:44,000 That is a multiplier, according to me. 1590 01:20:44,200 --> 01:20:46,400 But that said, there are some challenges, too. 1591 01:20:47,520 --> 01:20:51,080 You need to be commercially savvy for the distribution. 1592 01:20:51,160 --> 01:20:53,120 - Have you heard about Fabindia? - Yes. 1593 01:20:53,320 --> 01:20:55,760 Fabindia began 1594 01:20:55,800 --> 01:20:58,120 - with the purpose of helping local craftsmen. - Okay. 1595 01:20:58,320 --> 01:21:00,280 But when they had to scale up, 1596 01:21:00,480 --> 01:21:02,000 they, too, had to open stores 1597 01:21:05,440 --> 01:21:08,040 At the end of the day, commercial decisions come up 1598 01:21:08,080 --> 01:21:10,120 when investors join you. 1599 01:21:10,200 --> 01:21:13,880 That risk is real when you journey towards Rs 10 crores. 1600 01:21:14,120 --> 01:21:16,640 I genuinely wanted to support you in some way. 1601 01:21:16,760 --> 01:21:19,400 But as I have to judge you based on your business here, 1602 01:21:20,200 --> 01:21:22,040 unfortunately, I am out. 1603 01:21:23,840 --> 01:21:26,360 - I wish you all the best. - Thank you. - Thank you so much. 1604 01:21:26,440 --> 01:21:27,600 - Bye. - Most welcome. 1605 01:21:27,680 --> 01:21:28,840 Bye, see you. 1606 01:21:29,040 --> 01:21:30,880 - Many best wishes. - Good luck. - Thank you. 1607 01:21:31,080 --> 01:21:32,080 Thank you so much. 1608 01:21:32,640 --> 01:21:34,320 Our work has a social impact. 1609 01:21:34,520 --> 01:21:37,240 So, its scalability is different 1610 01:21:37,480 --> 01:21:39,960 compared to what Sharks are used to. 1611 01:21:40,040 --> 01:21:42,960 But their feedback was positive. 1612 01:21:43,320 --> 01:21:46,280 We've journeyed till here from point zero. 1613 01:21:46,520 --> 01:21:48,800 We will journey till there, too. 1614 01:21:49,040 --> 01:21:51,920 But like they said, it's a different path, 1615 01:21:52,400 --> 01:21:53,920 which we appreciate. 1616 01:21:54,000 --> 01:21:55,320 Hello, Sunita and Suhas. 1617 01:21:55,760 --> 01:21:57,040 - How are you? - Great! 1618 01:21:58,480 --> 01:21:59,800 We felt good. 1619 01:21:59,920 --> 01:22:02,360 - All the Sharks were encouraging. - Yes. 1620 01:22:02,680 --> 01:22:05,920 They motivated us to continue our work. 1621 01:22:06,760 --> 01:22:09,560 Because I am so motivated and inspired 1622 01:22:09,560 --> 01:22:12,240 by what you are doing, I want you to keep doing it. 1623 01:22:12,320 --> 01:22:14,640 It takes a lot of energy to do such important work 1624 01:22:14,760 --> 01:22:17,160 and to keep your energy levels up, I thought I would get you a gift. 1625 01:22:17,200 --> 01:22:19,240 So I opened Swiggy Instamart and ordered some gifts. 1626 01:22:19,280 --> 01:22:20,800 And look, they are here in 10 minutes. 1627 01:22:22,840 --> 01:22:24,120 Thank you so much! 1628 01:22:24,200 --> 01:22:27,160 Inside it are energy drinks and dark chocolate bars for you. 1629 01:22:27,440 --> 01:22:30,080 So feel good. You should feel energised now. 1630 01:22:30,160 --> 01:22:30,920 Thank you so much! 1631 01:22:31,000 --> 01:22:33,200 And your dolls are really cute! 1632 01:22:33,360 --> 01:22:34,680 - Thank you! - Really. 1633 01:22:34,760 --> 01:22:38,560 In our house, dolls' heads were found lying separately. 1634 01:22:38,760 --> 01:22:40,120 Have you seen how they used to be? 1635 01:22:40,160 --> 01:22:41,760 When you looked, they would stare at you. 1636 01:22:41,880 --> 01:22:44,800 But yours are so cute that I feel like educating them 1637 01:22:44,920 --> 01:22:45,760 and making them officers. Right? 1638 01:22:45,920 --> 01:22:47,680 But thank you so much for coming. 1639 01:22:47,840 --> 01:22:51,280 Friends, you too should increase your energy, 1640 01:22:51,400 --> 01:22:53,520 improve it and use it for good things. 1641 01:22:53,680 --> 01:22:55,560 If you need anything, then order from Swiggy Instamart. 1642 01:22:55,600 --> 01:22:56,640 Everything is available there 1643 01:22:56,680 --> 01:22:58,640 and arrives in 10 minutes. Order now. 1644 01:23:04,400 --> 01:23:06,640 Jaquar presents Bringing Good Ideas To Life. 1645 01:23:06,720 --> 01:23:09,400 Shark Tank India witnessed a new wave of entrepreneurs. 1646 01:23:09,480 --> 01:23:12,840 Entrepreneurs who are setting new trends with their ideas 1647 01:23:12,920 --> 01:23:14,760 and solving big challenges. 1648 01:23:14,840 --> 01:23:17,400 Some are busy organising their industries 1649 01:23:17,480 --> 01:23:20,000 and some are creating new categories and opportunities. 1650 01:23:20,320 --> 01:23:21,800 Just like our Sharks. 1651 01:23:22,000 --> 01:23:25,800 You don't remember? No problem. Let's see it now. 1652 01:23:25,880 --> 01:23:27,720 [upbeat music] 1653 01:23:31,600 --> 01:23:35,720 Gabru Di Chaap is India's first premium Soya Chaap QSR chain 1654 01:23:35,800 --> 01:23:38,480 that wants to give Soya Chaap a new identity. 1655 01:23:38,840 --> 01:23:41,720 MetaShot is a mixed-reality smart bat. 1656 01:23:41,960 --> 01:23:43,880 With this bat, you can play cricket 1657 01:23:43,960 --> 01:23:46,960 by connecting from your home to any corner of the world. 1658 01:23:47,680 --> 01:23:49,640 Awesome shot! 1659 01:23:49,960 --> 01:23:52,920 Naturik, India's tastiest and healthiest 1660 01:23:53,080 --> 01:23:54,160 Desi breakfast brand. 1661 01:23:54,240 --> 01:23:56,600 Actually, the sprouts are very tasty. 1662 01:23:56,680 --> 01:23:58,840 Dilkash Mughlai Chaap is really yummy. 1663 01:23:58,920 --> 01:23:59,920 Very tasty! 1664 01:24:00,600 --> 01:24:03,840 Sonic Lambs are powered by our patented impulse drivers 1665 01:24:03,920 --> 01:24:06,920 which converts audio signals into physical impulses. 1666 01:24:07,000 --> 01:24:09,240 This allows you to not just hear the music 1667 01:24:09,320 --> 01:24:11,160 but also makes you feel it. 1668 01:24:11,240 --> 01:24:13,760 - It's good! - There is a feel. All right. 1669 01:24:14,040 --> 01:24:16,920 EM5 is a perfume brand that provides consumers 1670 01:24:17,000 --> 01:24:20,840 with high-quality luxury fragrances at very affordable rates. 1671 01:24:20,920 --> 01:24:24,120 - We are running at a monthly run rate of Rs 1.7 crore. - Amazing! 1672 01:24:24,280 --> 01:24:27,280 - The fragrance is nice. - I also liked it, man. 1673 01:24:27,400 --> 01:24:30,520 Sir, this is the viral video of our Chaff Cutter 1674 01:24:30,600 --> 01:24:32,880 with 4.5 million views on YouTube. 1675 01:24:32,960 --> 01:24:37,120 1.1 thousand. 1.1... 347 thousand. 1676 01:24:37,200 --> 01:24:38,360 Oh, boy! 1677 01:24:38,720 --> 01:24:41,280 4.5 million! 45 lakhs! 1678 01:24:41,480 --> 01:24:43,400 You turned out to be a hero, sir. 1679 01:24:44,560 --> 01:24:48,120 This has the potential to be a global product with a global brand. 1680 01:24:49,000 --> 01:24:51,400 Well, I don't think you, yourself, know what you've created. 1681 01:24:51,520 --> 01:24:55,120 You're a fighter, you are daring and your sales are excellent. 1682 01:24:55,240 --> 01:24:57,080 So huge respect. I salute you heartily. 1683 01:24:58,720 --> 01:25:00,720 All the pitchers proved one thing. 1684 01:25:01,040 --> 01:25:05,280 Proudly made in India for the world. Just like Jaquar. 1685 01:25:09,600 --> 01:25:13,160 Hello and welcome to Ask The Shark. The Shark with us today 1686 01:25:13,240 --> 01:25:15,440 is the co-founder of Snapdeal and Titan Capital 1687 01:25:25,240 --> 01:25:27,200 He is 28 years old and is from Panchkula. 1688 01:25:44,280 --> 01:25:48,040 - So I've invested in approximately 20 companies every year. - Hmm. 1689 01:25:48,240 --> 01:25:52,640 Whenever we invest in a company, we meet that company 1690 01:25:52,720 --> 01:25:55,560 - every month for the first 6 months. - Okay. 1691 01:25:55,640 --> 01:26:00,200 After that, when the company's way of working gets a bit set, 1692 01:26:00,320 --> 01:26:02,280 their trajectory becomes a bit clear, 1693 01:26:02,480 --> 01:26:06,120 and then we meet them once a quarter. 1694 01:26:39,280 --> 01:26:40,880 We'll meet again on Ask The Shark 1695 01:26:40,960 --> 01:26:42,360 with a new Shark and a new question.