1 00:00:29,680 --> 00:00:31,920 [music playing] 2 00:00:41,920 --> 00:00:44,120 [music playing] 3 00:00:54,480 --> 00:00:57,600 [theme music playing] 4 00:01:16,040 --> 00:01:18,080 Hello, Sharks! My name is Parth. 5 00:01:28,320 --> 00:01:32,400 But 8 years ago, I went to my dad with the same ask. 6 00:01:32,560 --> 00:01:34,840 You know, every college student dreams 7 00:01:34,920 --> 00:01:37,600 of opening a cafe or a restaurant. I had the same dream. 8 00:01:37,680 --> 00:01:39,520 When I went to my dad with this idea, 9 00:01:39,600 --> 00:01:42,320 he made me sit down and said, 10 00:01:42,400 --> 00:01:45,080 'Do you have any idea how much money you need to open a restaurant?' 11 00:01:45,080 --> 00:01:47,520 'If a location doesn't work out, what'll you do about the interior?' 12 00:01:47,520 --> 00:01:49,120 'Who will bear such a huge loss?' 13 00:01:49,200 --> 00:01:51,800 'Everyone at your age thinks you can do a lot.' 14 00:01:51,880 --> 00:01:53,600 'You think you will make a lot of money.' 15 00:01:53,680 --> 00:01:56,200 'In reality, there are numerous overhead costs and high rentals' 16 00:01:56,360 --> 00:01:57,520 'who will cover them?' 17 00:01:57,760 --> 00:02:00,760 Sharks, something like this coming from a veteran 18 00:02:00,840 --> 00:02:03,360 who holds more than 30 years of experience 19 00:02:03,480 --> 00:02:04,640 in the hospitality industry. 20 00:02:04,800 --> 00:02:06,400 I was taken aback. 21 00:02:06,520 --> 00:02:07,600 As they say, 22 00:02:07,720 --> 00:02:09,760 once an idea takes root in the mind, it doesn't go away so easily. 23 00:02:09,760 --> 00:02:11,320 I saw food trucks abroad, 24 00:02:11,400 --> 00:02:13,520 so I thought of starting a food truck. 25 00:02:13,600 --> 00:02:16,760 It will be affordable, and my passion will also be fulfilled. 26 00:02:16,920 --> 00:02:20,640 While searching for a food truck manufacturer for ourselves, 27 00:02:20,760 --> 00:02:22,600 we couldn't find anyone 28 00:02:22,680 --> 00:02:24,200 who truly understood this industry. 29 00:02:24,320 --> 00:02:27,640 It was full of truck body fabricators. 30 00:02:28,240 --> 00:02:32,440 That is when we came up with an idea and we saw a gap. 31 00:02:32,520 --> 00:02:36,480 Forget about selling food. Let's make a food truck. 32 00:02:36,560 --> 00:02:39,880 And that's how, in 2016 Schickwheel was born. 33 00:02:39,960 --> 00:02:42,000 Schickwheel is a one-stop solution 34 00:02:42,080 --> 00:02:45,160 where we make high-quality, premium, custom-built, 35 00:02:45,240 --> 00:02:47,760 food trucks, trailers, kiosks, 36 00:02:52,400 --> 00:02:54,480 what catches the eye, is what sells. 37 00:02:54,560 --> 00:02:57,680 Therefore, we design our product in such a way 38 00:02:57,760 --> 00:03:00,200 that when a customer comes to us, it's because of our product 39 00:03:00,320 --> 00:03:02,120 and then because of the taste of the food. 40 00:03:02,200 --> 00:03:05,160 Our mobile kitchens are unique and attractive. 41 00:03:05,240 --> 00:03:08,200 But Sharks, you will have to wait until you see it yourself. 42 00:03:08,480 --> 00:03:10,960 If you say that you want to start a tea business, 43 00:03:11,080 --> 00:03:13,800 I can make a kiosk in the shape of a teapot. 44 00:03:13,960 --> 00:03:16,440 Do you want to sell biryani? We can make a biryani pot. 45 00:03:16,520 --> 00:03:18,680 Do you want to start a pizza brand? 46 00:03:18,760 --> 00:03:20,480 Then we will make it in the shape of a cheese cube. 47 00:03:20,520 --> 00:03:23,760 In short, you think of it, and we'll bring it to life. 48 00:03:23,880 --> 00:03:28,280 Sharks, Indian and international brands love our trucks. 49 00:03:28,400 --> 00:03:31,600 Be it malls, airports, corporates or universities, 50 00:03:31,680 --> 00:03:34,240 you can get to see our product everywhere. 51 00:03:34,320 --> 00:03:36,760 Maybe that's why we have managed 52 00:03:36,840 --> 00:03:40,520 to sell our products in 23 states and 4 union territories. 53 00:03:43,240 --> 00:03:44,960 'You are on the right truck.' 54 00:03:45,040 --> 00:03:47,240 We believe, that not just the food space, 55 00:03:47,360 --> 00:03:49,160 but every business in India 56 00:03:49,280 --> 00:03:51,520 in future will be mobile. 57 00:03:51,680 --> 00:03:54,880 We are a part of that future, so we request you to come on board, 58 00:03:55,000 --> 00:03:56,000 join hands with Schickwheel 59 00:03:56,040 --> 00:03:57,720 - to take the nation wheeling. - Wheeling! 60 00:03:57,800 --> 00:03:59,240 [chuckles] 61 00:03:59,320 --> 00:04:01,800 Sharks, would you like to see our product? 62 00:04:01,880 --> 00:04:03,920 100% Where do we see it? 63 00:04:04,000 --> 00:04:05,360 Sure! Come with us. 64 00:04:05,480 --> 00:04:07,840 - We'll take you. - Let's go. 65 00:04:12,240 --> 00:04:13,880 Oh no, it's Schickwheel! 66 00:04:14,680 --> 00:04:16,560 - Very good-looking. - Really good-looking. 67 00:04:16,640 --> 00:04:17,760 Very good. 68 00:04:18,960 --> 00:04:20,360 Do you sell makeup here? 69 00:04:20,440 --> 00:04:22,440 - You can. We can make a product display for you. - Yes! 70 00:04:22,480 --> 00:04:24,400 - This looks like a makeup vending van. - What is this used for? 71 00:04:24,440 --> 00:04:26,640 So, this is for food basically. 72 00:04:27,800 --> 00:04:29,200 This is a food trailer. 73 00:04:29,680 --> 00:04:31,400 This is the back of the kitchen. 74 00:04:31,480 --> 00:04:33,840 In front, you have the kitchen area where the point of sale happens. 75 00:04:33,880 --> 00:04:35,240 Even the glass is insulated 76 00:04:35,320 --> 00:04:37,520 so that heat doesn't get through. 77 00:04:39,000 --> 00:04:40,040 This way. 78 00:04:40,600 --> 00:04:42,440 [music playing] 79 00:04:43,760 --> 00:04:48,280 Sharks, this is particularly made for South Indian cuisine. 80 00:04:48,400 --> 00:04:49,960 So, the equipment is installed accordingly. 81 00:04:50,000 --> 00:04:52,320 We can make the interior based on what you want to sell. 82 00:04:54,320 --> 00:04:56,480 Sharks, first thing first, the moment you enter, 83 00:04:56,600 --> 00:04:58,200 to the right is the distribution board. 84 00:04:58,280 --> 00:05:01,640 This is the control panel where electricals will be controlled. 85 00:05:01,880 --> 00:05:04,240 After that, this is your gas pipeline. 86 00:05:04,600 --> 00:05:07,400 You will generally see it's connected directly to the cylinder. 87 00:05:07,480 --> 00:05:08,720 We don't do that. 88 00:05:08,800 --> 00:05:10,680 We create a proper bank 89 00:05:10,800 --> 00:05:12,160 where there are two cylinders 90 00:05:12,320 --> 00:05:14,280 so that proper pressure is maintained. 91 00:05:14,800 --> 00:05:16,840 Also, all our materials... 92 00:05:17,000 --> 00:05:19,640 This is double-walled. Look at the thickness. 93 00:05:20,320 --> 00:05:22,560 Outer is GI, which is galvanization iron. 94 00:05:22,680 --> 00:05:24,120 Inside its insulation. 95 00:05:24,200 --> 00:05:26,160 Insulation is again fire resistant. 96 00:05:26,240 --> 00:05:29,440 There are two things, the outside heat won't get in. 97 00:05:29,640 --> 00:05:31,600 Secondly, it doesn't let the fire spread. 98 00:05:31,680 --> 00:05:33,880 [music playing] 99 00:05:34,320 --> 00:05:38,720 Plus, I want you to hold this once. 100 00:05:39,080 --> 00:05:41,040 - I just want to show you the quality. - Sturdy! 101 00:05:41,120 --> 00:05:42,960 - The way it has been done. - It's sturdy. 102 00:05:43,760 --> 00:05:44,760 The quality is good. 103 00:05:44,880 --> 00:05:46,680 You are an expert. 104 00:05:47,600 --> 00:05:50,040 This is where the final dispensing happens. 105 00:05:50,120 --> 00:05:51,160 This is the point of sale. 106 00:05:51,200 --> 00:05:53,360 This is where your bills and everything will be taken care of. 107 00:05:53,400 --> 00:05:54,800 We have a display here. 108 00:05:54,880 --> 00:05:56,560 The food is inside this. 109 00:05:56,640 --> 00:05:59,400 And this is where you can hand the food over. 110 00:05:59,560 --> 00:06:02,000 We have placed a blender and a coffee machine here. 111 00:06:02,960 --> 00:06:04,760 This is a trailer. Which means... 112 00:06:04,840 --> 00:06:07,360 Truck means drivable engine. 113 00:06:07,440 --> 00:06:09,800 If you say you take your vehicle frequently, 114 00:06:23,880 --> 00:06:24,880 - Exactly! - Got it. 115 00:06:24,960 --> 00:06:26,760 - Let's go. - Good concept. 116 00:06:26,840 --> 00:06:28,520 - Very good! - Thank you, ma'am. 117 00:06:30,520 --> 00:06:32,760 [music playing] 118 00:06:37,320 --> 00:06:39,520 - Rishabh and Parth! - Yes, sir! 119 00:06:39,600 --> 00:06:42,120 The trailer was good. We will talk about that. 120 00:06:42,480 --> 00:06:46,040 But first, tell me about your journey. 121 00:06:46,120 --> 00:06:48,920 I did my schooling at Manav Sthali School. 122 00:06:49,000 --> 00:06:52,600 Then I graduated with BCom honours from Shivaji College. 123 00:06:57,520 --> 00:07:00,240 I did my schooling at Modern School Barakhamba Road. 124 00:07:00,400 --> 00:07:03,520 And I graduated with BCom honours from SRCC. 125 00:07:03,600 --> 00:07:06,440 And then I worked at KPMG 126 00:07:06,520 --> 00:07:07,600 and then this business. 127 00:07:07,680 --> 00:07:09,800 And you didn't work. 128 00:07:09,880 --> 00:07:13,040 No, I didn't. 2013 was when my college got over. 129 00:07:13,240 --> 00:07:15,560 In 2014, I joined my dad's business. 130 00:07:15,680 --> 00:07:16,720 For two years, I was with him. 131 00:07:16,760 --> 00:07:18,800 2016 was when we started this. 132 00:07:18,880 --> 00:07:20,720 What is your dad's business? 133 00:07:21,360 --> 00:07:23,800 He manufactured commercial kitchen equipment. 134 00:07:23,880 --> 00:07:26,240 - So, the equipment we just saw... - Absolutely! 135 00:07:26,360 --> 00:07:27,800 That is your dad's business. 136 00:07:27,880 --> 00:07:29,440 - Yes! - How old is that business? 137 00:07:29,520 --> 00:07:32,520 It is a family-run business. It's more than 50 years old company. 138 00:07:32,640 --> 00:07:34,080 More than 50 years old! 139 00:07:37,920 --> 00:07:39,120 How old are both of you? 140 00:07:39,200 --> 00:07:41,520 - I am 32 years old and he's 29. - I am 29. 141 00:07:41,600 --> 00:07:43,560 How much money have you invested in this business? 142 00:07:43,600 --> 00:07:46,640 We started with Rs. 20 lakhs of investment initially. 143 00:07:46,920 --> 00:07:48,240 Our parents gave that to us. 144 00:07:48,320 --> 00:07:50,400 - Both of you are the only partners. - No! 145 00:07:50,800 --> 00:07:53,280 My brother and my mom are 50-50 partners. 146 00:07:53,440 --> 00:07:55,200 And I am a part of the business. 147 00:07:55,600 --> 00:07:57,720 You started this in 2016? 148 00:07:57,840 --> 00:07:58,840 - Yes! - Eight years ago. 149 00:07:58,920 --> 00:08:00,120 - Yes! - Are you doing this since then? 150 00:08:00,120 --> 00:08:01,160 - Yes! - Both the brothers? 151 00:08:01,200 --> 00:08:02,200 - Yes! - Together? 152 00:08:02,360 --> 00:08:03,920 - Of course. - Happily? 153 00:08:04,040 --> 00:08:04,920 Happily! 154 00:08:05,040 --> 00:08:07,520 You know, brothers are always happy. 155 00:08:07,600 --> 00:08:10,080 You can't expect brothers to not argue, that's impossible. 156 00:08:10,200 --> 00:08:12,200 If someone says otherwise, they are lying. 157 00:08:19,400 --> 00:08:22,960 We launched in 2016, we started at an exhibition. 158 00:08:23,120 --> 00:08:24,480 What did your first truck look like? 159 00:08:24,520 --> 00:08:28,480 The first truck was a pink food trailer 160 00:08:34,280 --> 00:08:36,240 When we started, it was with a food truck trailer. 161 00:08:36,280 --> 00:08:37,880 Then we added kiosks also. 162 00:08:37,960 --> 00:08:40,640 When we learned about the cart segment, we ventured into that. 163 00:08:40,720 --> 00:08:44,640 What is the main segment out of the five segments? 164 00:08:45,440 --> 00:08:48,120 Two of them are highest selling. 165 00:08:48,200 --> 00:08:50,440 Food truck trailer is one category. 166 00:08:50,520 --> 00:08:52,480 That is 35% of the business. 167 00:08:52,560 --> 00:08:54,720 Kiosk is 35%. 168 00:08:54,800 --> 00:08:57,080 Kitchen equipment is 22%. 169 00:08:57,160 --> 00:08:59,080 Carts is 8%. 170 00:08:59,560 --> 00:09:02,880 - Are the installments at CyberHub, Delhi, yours? - Yes. 171 00:09:02,960 --> 00:09:05,360 Food trucks... I don't know about CyberHub. 172 00:09:10,880 --> 00:09:13,920 Who are the customers buying food trucks in India? 173 00:09:14,200 --> 00:09:17,400 There are licenses involved, and people have less awareness. 174 00:09:17,880 --> 00:09:18,960 Now, there is awareness. 175 00:09:19,040 --> 00:09:22,680 Because if you want to park your food truck on the municipal land, 176 00:09:22,760 --> 00:09:25,040 you have to get permission from the local municipality. 177 00:09:25,120 --> 00:09:26,480 Are there rules for this? 178 00:09:26,560 --> 00:09:28,240 For example, if I talk about Delhi, 179 00:09:28,320 --> 00:09:30,920 there is a policy called concept based eating establishment. 180 00:09:31,040 --> 00:09:33,440 There are four categories. First is chef cart, 181 00:09:33,560 --> 00:09:36,560 second is e-cart, third is fixed structures, 182 00:09:36,640 --> 00:09:37,880 fourth is temporary structures. 183 00:09:37,920 --> 00:09:40,560 Basically, that policy means 184 00:09:40,640 --> 00:09:42,400 that the area you are occupying 185 00:09:42,520 --> 00:09:44,920 according to that you have to pay a rental to the government. 186 00:09:45,000 --> 00:09:47,760 Tell me, how many food trucks are in India? 187 00:09:47,880 --> 00:09:49,520 There are millions of trucks and trailers. 188 00:09:49,520 --> 00:09:52,160 In organised segment. People create an unorganised segment. 189 00:09:52,240 --> 00:09:53,320 It is in thousands. 190 00:09:53,440 --> 00:09:55,160 - Thousands? - If we talk about organised... 191 00:09:55,200 --> 00:09:56,640 Trucks and trailers only. 192 00:09:57,480 --> 00:10:00,520 Tell me how many trucks you've sold each year 193 00:10:00,640 --> 00:10:02,520 in terms of quantity, and then we can discuss the revenue. 194 00:10:02,520 --> 00:10:04,040 And the price of the trucks as well. 195 00:10:04,360 --> 00:10:05,920 Let me tell you the price first. 196 00:10:14,280 --> 00:10:15,600 Oh my! 197 00:10:16,040 --> 00:10:17,040 And without the truck? 198 00:10:17,080 --> 00:10:18,280 This is a trailer model. 199 00:10:18,400 --> 00:10:20,200 I will make everything in a trailer model, 200 00:10:20,280 --> 00:10:22,680 you have to provide a chassis in a truck model, 201 00:10:39,000 --> 00:10:40,720 - or doesn't want to get a job. - Okay! 202 00:10:40,800 --> 00:10:43,240 - He started this food business. - Okay! 203 00:10:43,360 --> 00:10:45,240 How much money will he need 204 00:10:45,320 --> 00:10:48,080 to start a business with a ready truck? 205 00:10:48,200 --> 00:10:51,440 In case, it's a truck, they have to give us a chassis. 206 00:10:51,560 --> 00:10:52,560 How much will that cost? 207 00:10:52,680 --> 00:10:55,760 If it's a small one, a basic three-wheeler, 208 00:10:55,920 --> 00:10:58,200 a chassis costs around Rs. 3.5 lakhs. 209 00:10:58,320 --> 00:11:00,080 How much does the fabrication cost? 210 00:11:00,160 --> 00:11:03,360 - That will be around Rs. 5-Rs. 6 lakhs. - Rs. 5 lakhs. 211 00:11:03,440 --> 00:11:06,240 This and some raw materials, he can start a business with Rs. 10 lakhs. 212 00:11:06,280 --> 00:11:07,280 - Yes! - Right! 213 00:11:07,400 --> 00:11:10,360 To reduce the cost, you can go with an old truck.- Understood. 214 00:11:10,440 --> 00:11:11,880 If I talk about the revenue, 215 00:11:11,960 --> 00:11:15,080 FY16-17 was our first financial year, 216 00:11:15,160 --> 00:11:17,800 - during which we achieved sales of Rs. 98 lakhs. - Okay. 217 00:11:17,880 --> 00:11:21,360 In FY17-18, our sales amounted to Rs. 1.3 crores. 218 00:11:21,440 --> 00:11:24,120 In FY18-19, it was Rs. 2.5 crores. 219 00:11:24,240 --> 00:11:26,880 In FY19-20, our revenue was Rs. 3.2 crores. 220 00:11:26,960 --> 00:11:29,920 In FY20-21, it was Rs. 3.4 crores. 221 00:11:30,040 --> 00:11:32,600 In FY21-22, it reached Rs. 3.2 crores. 222 00:11:32,680 --> 00:11:36,840 If we talk about FY22-23, the sales were Rs. 5 crores. 223 00:11:36,960 --> 00:11:40,200 Last year, FY23-24, we closed at Rs. 6.8 crores. 224 00:11:40,280 --> 00:11:42,840 And currently, until October 15th, 225 00:11:42,960 --> 00:11:45,480 we've achieved more than Rs. 6.5 crores. 226 00:11:45,560 --> 00:11:47,880 We have current orders of more than Rs. 3 crores. 227 00:11:48,000 --> 00:11:50,160 We will dispatch it by the end of November. 228 00:11:50,240 --> 00:11:53,040 So, we expect to close this year around Rs. 15 crores. 229 00:11:53,120 --> 00:11:56,240 - You gave us the number of eight years. Amazing! - Superb! 230 00:11:56,320 --> 00:12:00,320 Many times, founders come here unprepared. 231 00:12:00,480 --> 00:12:02,960 They have been in the business for around 10 years, 232 00:12:03,040 --> 00:12:06,600 - but they don't know about their packaging and product. 233 00:12:06,680 --> 00:12:08,320 But you know every detail. 234 00:12:08,400 --> 00:12:10,560 So, well done! Great eye for detail. 235 00:12:10,640 --> 00:12:13,240 And very positive and energetic attitude. 236 00:12:13,560 --> 00:12:15,480 How much was your profit last year? 237 00:12:15,600 --> 00:12:18,880 Last year the net profit was 5%, gross profit was 22%. 238 00:12:22,200 --> 00:12:24,400 - We make it in-house. - How long does it take to make one? 239 00:12:24,440 --> 00:12:27,960 If it's a food truck trailer, we ask for 4-6 weeks. 240 00:12:36,880 --> 00:12:40,440 Typically, no one engages in such businesses for just 5%. 241 00:12:40,520 --> 00:12:41,800 Honestly, we are working on it. 242 00:12:41,880 --> 00:12:43,760 Apart from the customisation, 243 00:12:43,840 --> 00:12:47,480 we have seen that some of our models are hot-selling. 244 00:12:47,560 --> 00:12:50,280 So, we're working towards standardising it, 245 00:12:50,360 --> 00:12:52,520 where we pre-manufacture the parts. 246 00:12:52,600 --> 00:12:55,520 This way, we can keep our labour costs in check, 247 00:12:55,600 --> 00:12:57,800 reduce our overall expenses, 248 00:12:58,080 --> 00:13:01,000 and increase our profit margins. 249 00:13:06,960 --> 00:13:10,440 What is the price difference? Are you expensive? 250 00:13:10,680 --> 00:13:11,840 There is a lot of difference, sir. 251 00:13:11,880 --> 00:13:16,240 - If we are selling a product for Rs. 8 lakhs, they... - Rs. 5 lakhs. 252 00:13:16,360 --> 00:13:17,680 - They are selling it for Rs. 5 lakhs. - Rs. 5 lakhs. 253 00:13:17,680 --> 00:13:20,480 Basically, the material is entirely different. 254 00:13:20,560 --> 00:13:24,600 Our interiors have stainless steel, they don't cater to that. 255 00:13:24,800 --> 00:13:26,000 They use normal equipment. 256 00:13:26,120 --> 00:13:27,960 But there are no other organised players. 257 00:13:28,040 --> 00:13:29,320 No one does everything in-house. 258 00:13:29,360 --> 00:13:30,880 - No one in India? - We... 259 00:13:30,960 --> 00:13:32,640 There are organised players in India. 260 00:13:32,760 --> 00:13:34,600 But no one does everything in-house. 261 00:13:34,680 --> 00:13:37,440 How big are the organised players? 262 00:13:37,520 --> 00:13:38,880 In India, there would be just 263 00:13:39,000 --> 00:13:40,440 3 or 4 players. That's it. 264 00:13:40,520 --> 00:13:41,760 - Not more than that. - Who is the biggest player? 265 00:13:41,760 --> 00:13:43,040 - We are. - Us. 266 00:13:43,160 --> 00:13:46,000 I am not able to understand how you are working for 5%. 267 00:13:46,080 --> 00:13:48,240 It's not adding up for me. 268 00:13:48,320 --> 00:13:50,000 Sir, if I tell you the unit economics, 269 00:13:50,080 --> 00:13:52,880 72% is raw material cost. 270 00:13:52,960 --> 00:13:54,760 6% is our manufacturing expenses. 271 00:13:54,880 --> 00:13:56,560 So, the COGS is 78%. 272 00:13:56,640 --> 00:14:00,440 22% is our gross profit, where 8% is salaries 273 00:14:00,560 --> 00:14:03,440 and 5% goes for exhibition, advertisement, 274 00:14:03,520 --> 00:14:05,000 and business promotions. 275 00:14:05,080 --> 00:14:07,280 2% is our rental. 276 00:14:07,360 --> 00:14:11,480 And 2% is miscellaneous expenses, commissions or travelling. 277 00:14:11,560 --> 00:14:13,320 By adding this, 5% is with us. 278 00:14:13,400 --> 00:14:16,360 So, the problem is gross profit if you want to increase profitability. 279 00:14:16,480 --> 00:14:18,920 - When you go to a customer... - Yes? 280 00:14:19,040 --> 00:14:23,400 Do they look at you as a manufacturer or a brand? 281 00:14:24,600 --> 00:14:27,000 We are looked at as a brand. 282 00:14:27,080 --> 00:14:28,280 As Peyush pointed out, 283 00:14:28,400 --> 00:14:31,000 you don't have the pricing power that comes with a brand. 284 00:14:31,240 --> 00:14:33,280 So, we are incorporating that. 285 00:14:33,360 --> 00:14:35,720 Food trucks can be premium, 286 00:14:35,800 --> 00:14:37,280 we have created that. 287 00:14:37,360 --> 00:14:40,240 We've reached a situation where we need to increase that price point 288 00:14:40,360 --> 00:14:42,800 while also reducing our overheads and expenses. 289 00:14:42,880 --> 00:14:46,560 Every year, your growth has been average. 290 00:14:47,600 --> 00:14:49,640 Around 30%. 291 00:14:49,720 --> 00:14:52,360 What happened this year? How did it double? 292 00:14:52,440 --> 00:14:53,920 It's a brand now. 293 00:14:54,000 --> 00:14:55,880 We are getting the leverage of it. 294 00:14:55,960 --> 00:14:58,880 When you want to create a new market, 295 00:14:58,960 --> 00:15:01,080 you have to price it accordingly. 296 00:15:01,200 --> 00:15:05,160 Especially when people have no clue about the quality and what it is. 297 00:15:05,240 --> 00:15:07,560 They compare it with the local players. 298 00:15:07,640 --> 00:15:10,000 So, we need to pull it to us, first. 299 00:15:10,080 --> 00:15:13,280 - And then, we can... - So, you've increased the price. 300 00:15:14,080 --> 00:15:15,520 Some products, yes. 301 00:15:15,600 --> 00:15:17,680 - Because we increased the price... - Hold on! 302 00:15:17,760 --> 00:15:19,880 Give us a straight answer. 303 00:15:20,440 --> 00:15:24,280 In eight years, the sales didn't double, but this year, they did. 304 00:15:24,360 --> 00:15:25,720 Give me the reason. Why? 305 00:15:25,800 --> 00:15:27,840 In the past, our projects 306 00:15:27,960 --> 00:15:30,680 were majorly QSR brands, 307 00:15:30,760 --> 00:15:33,040 individual players and individual outlets. 308 00:15:33,200 --> 00:15:35,840 Now, we are getting more orders from corporate business. 309 00:15:35,920 --> 00:15:38,880 In the past, you used to sell carts more, 310 00:15:38,960 --> 00:15:42,480 now, you are selling kiosks more. Is that the difference? 311 00:15:43,800 --> 00:15:48,160 No! Our clientele is different now. 312 00:15:48,240 --> 00:15:49,720 Give us an example. 313 00:15:49,800 --> 00:15:51,840 - How big was the order this year? - I'll explain. You need to know, 314 00:15:51,840 --> 00:15:54,400 that the normal person buying is earning revenue. 315 00:15:54,480 --> 00:15:56,240 He will sell it to earn money. 316 00:15:56,360 --> 00:15:58,000 Corporate is not making money from this. 317 00:15:58,080 --> 00:16:00,520 For them, it's the welfare of the employee. 318 00:16:00,600 --> 00:16:04,600 They have around 4,000 employees in-house. 319 00:16:04,680 --> 00:16:07,640 He wants something which serves a certain amount of people. 320 00:16:07,720 --> 00:16:09,440 They want good quality too. 321 00:16:09,560 --> 00:16:13,520 So, obviously, their product price comparatively goes up. 322 00:16:13,880 --> 00:16:16,680 Your ATV has gone up. The average order value has increased. 323 00:16:17,480 --> 00:16:20,920 Last year, what was the absolute value of the largest order? 324 00:16:21,000 --> 00:16:22,000 Around Rs. 55 lakhs. 325 00:16:25,840 --> 00:16:29,000 One of our clients, Sodexo, handles facility management. 326 00:16:29,080 --> 00:16:31,760 Different locations... We completed a sale of Rs. 1 crore with them. 327 00:16:35,600 --> 00:16:37,400 Which chains are you associated with? 328 00:16:43,120 --> 00:16:44,640 Two more will be dispatched in a week. 329 00:16:44,720 --> 00:16:46,520 - How many trucks of Domino's? - Nine trucks. 330 00:16:46,600 --> 00:16:49,520 - When did they buy them? - It's been 2.5 years. 331 00:16:49,600 --> 00:16:50,920 Aren't they buying more? 332 00:16:51,120 --> 00:16:53,560 They are. We are developing new models for them. 333 00:16:53,640 --> 00:16:55,240 Tell me something. 334 00:16:55,520 --> 00:16:59,960 By raising an investment, how will you give an exit to an investor? 335 00:17:00,160 --> 00:17:03,160 It is not a business that I think will scale in volume. 336 00:17:03,240 --> 00:17:07,000 Why do you need an investor? You know it all. 337 00:17:07,680 --> 00:17:09,480 When you say about the exit, 338 00:17:09,760 --> 00:17:12,040 we might know how that's done. 339 00:17:12,120 --> 00:17:14,840 We don't know what's the investment game and all that stuff. 340 00:17:14,960 --> 00:17:17,240 We are doing things as per our knowledge. We have the knowledge. 341 00:17:17,280 --> 00:17:19,000 But as they say, to build a big company, 342 00:17:19,120 --> 00:17:22,960 if I aim for Rs. 100 crore, it might take me 4 years to reach that. 343 00:17:23,040 --> 00:17:26,480 But with you guys, it might happen in a shorter time. 344 00:17:26,880 --> 00:17:28,840 My vision is 345 00:17:28,920 --> 00:17:31,480 that just as Colgate is synonymous with toothpaste, 346 00:17:31,600 --> 00:17:34,680 Schickwheel will be synonymous with food trucks and kiosks. 347 00:17:35,800 --> 00:17:37,520 Colgate is synonymous with toothpaste. 348 00:17:37,600 --> 00:17:41,400 Even if Schickwheel is synonymous with food cart, 349 00:17:41,560 --> 00:17:43,240 it still won't be a huge business. 350 00:17:44,080 --> 00:17:45,440 I'll tell you why. 351 00:17:45,640 --> 00:17:47,320 It is not a consumption product. 352 00:17:48,600 --> 00:17:50,920 - Yes. - This is money from the investment in the business. 353 00:17:51,640 --> 00:17:55,160 And the food trucks I've seen don't match this quality. 354 00:17:55,240 --> 00:17:57,520 But it's fine. You can get the job done. 355 00:17:57,600 --> 00:17:59,400 And they are coming at half the cost. 356 00:17:59,680 --> 00:18:02,480 A guy who is thinking of starting a business, 357 00:18:02,600 --> 00:18:04,480 he will not buy your truck. 358 00:18:06,160 --> 00:18:08,520 The only people who will buy your trucks are either brands 359 00:18:08,840 --> 00:18:09,880 or corporates. 360 00:18:09,960 --> 00:18:11,560 If you want to build a big business 361 00:18:11,720 --> 00:18:14,200 and generate returns for investors, 362 00:18:14,280 --> 00:18:15,840 you need to convince us 363 00:18:15,960 --> 00:18:19,920 about the speed at which brands are shifting to food trucks 364 00:18:20,040 --> 00:18:21,720 and how quickly corporates are adopting them 365 00:18:21,760 --> 00:18:23,800 and how big the market can be in the next few years. 366 00:18:25,360 --> 00:18:28,880 Our main product is not just food trucks. 367 00:18:28,960 --> 00:18:31,440 You need to understand that kiosk is also our product. 368 00:18:31,520 --> 00:18:34,520 Which are used by malls, airports, 369 00:18:34,600 --> 00:18:36,320 universities and corporates. 370 00:18:36,400 --> 00:18:40,640 If you are currently building big brands in the food business, 371 00:18:40,720 --> 00:18:43,560 especially for QSRs where people are taking investments 372 00:18:43,640 --> 00:18:45,920 to run at high volumes, 373 00:18:46,040 --> 00:18:48,200 who will set it up for them? People like us. 374 00:18:48,320 --> 00:18:49,560 No, bro! 375 00:18:50,680 --> 00:18:54,040 If you invest in a coffee start-up, 376 00:18:54,120 --> 00:18:56,600 and they want 100 kiosks 377 00:18:56,680 --> 00:18:59,280 - we'll make that. - Right! But your price point is too high. 378 00:19:00,640 --> 00:19:02,000 You mentioned 379 00:19:02,080 --> 00:19:05,120 that what you sell for Rs. 7 lakhs, in unorganised market 380 00:19:05,240 --> 00:19:06,640 it is sold for Rs. 4 lakhs. 381 00:19:06,720 --> 00:19:08,240 That was for trucks. 382 00:19:08,320 --> 00:19:10,040 I will add to it. 383 00:19:10,120 --> 00:19:13,520 If you are particularly talking about malls or airports, 384 00:19:13,600 --> 00:19:15,160 they don't want that quality. 385 00:19:16,760 --> 00:19:18,840 They have a set standard, right? 386 00:19:18,920 --> 00:19:20,920 They won't let you go below that level. 387 00:19:21,000 --> 00:19:23,280 See, I don't agree with you at all. I'll tell you why. 388 00:19:23,360 --> 00:19:24,640 As much as I like you, 389 00:19:24,720 --> 00:19:27,480 there is a component called 91Squarefeet. 390 00:19:27,760 --> 00:19:29,760 They started the business of fit-outs, 391 00:19:29,880 --> 00:19:31,800 which is a highly competitive business, 392 00:19:31,880 --> 00:19:33,720 especially in the corporate sector. 393 00:19:33,840 --> 00:19:36,000 They provide fully built turnkey interiors. 394 00:19:36,360 --> 00:19:38,040 But they have done it in a way 395 00:19:38,120 --> 00:19:42,000 that allows them to deliver at the same cost or a slightly higher cost 396 00:19:42,080 --> 00:19:46,120 while generating a lot more profit through technology and automation. 397 00:19:46,520 --> 00:19:48,080 But what you are saying is different. 398 00:19:48,160 --> 00:19:50,440 You are saying that you'll give a very high-quality product, 399 00:19:50,480 --> 00:19:52,440 but the cost will be very high. 400 00:19:52,520 --> 00:19:54,240 That's the deal breaker to scale. 401 00:19:54,560 --> 00:19:57,200 Just to follow through on Anupam's point, 402 00:19:57,280 --> 00:20:00,360 91Squarefeet has a power use case. 403 00:20:00,440 --> 00:20:03,280 Colgate toothpaste has a power use case, it cleans teeth. 404 00:20:03,640 --> 00:20:05,200 I still don't understand 405 00:20:05,280 --> 00:20:06,920 what your power use case is. 406 00:20:07,000 --> 00:20:09,160 I see a lot of opportunities. 407 00:20:09,280 --> 00:20:13,560 But is there a use case with such high demand 408 00:20:13,840 --> 00:20:17,640 that you won't be able to meet it for the next 15 years? 409 00:20:19,520 --> 00:20:22,960 Our product is installed in malls and airports. 410 00:20:23,080 --> 00:20:25,480 Wherever there is a crowd, there is a need to sell food. 411 00:20:25,560 --> 00:20:26,920 To facilitate this, we set up kiosks in malls. 412 00:20:26,920 --> 00:20:29,160 Do you have a right to win in a mall kiosk? 413 00:20:29,280 --> 00:20:31,920 Because you were unique with this, you have a brand. 414 00:20:32,000 --> 00:20:33,360 - Your equipment. - In kiosk... 415 00:20:33,480 --> 00:20:35,320 Is there a difference between you 416 00:20:35,400 --> 00:20:37,200 and existing vendors in mall kiosks? 417 00:20:37,280 --> 00:20:38,560 When it comes to food 418 00:20:38,920 --> 00:20:41,520 in mall kiosks, not all vendors will be able to assist. 419 00:20:42,040 --> 00:20:43,800 Food is a specialised segment, and only those 420 00:20:43,840 --> 00:20:45,800 with the right knowledge can navigate it. 421 00:20:46,880 --> 00:20:49,880 Rishabh and Parth, first of all, I would say good business. 422 00:20:50,400 --> 00:20:53,960 If you want to scale, 423 00:20:54,080 --> 00:20:55,800 then I think you need to 424 00:20:56,000 --> 00:20:57,720 pivot the opportunity. 425 00:20:57,800 --> 00:21:00,000 There are many people in the food industry 426 00:21:00,080 --> 00:21:02,320 who are eager to start food startups, 427 00:21:02,640 --> 00:21:04,720 but they don't have the CapEx. 428 00:21:05,040 --> 00:21:07,120 If you make this a serviceable model, 429 00:21:07,200 --> 00:21:08,560 while you are doing this on the side 430 00:21:08,600 --> 00:21:11,120 so that I could rent this whole service. 431 00:21:11,240 --> 00:21:14,400 For that, you need to simplify your model. 432 00:21:14,480 --> 00:21:16,480 You should create a standardized cart 433 00:21:16,560 --> 00:21:20,520 with plug-and-play components that can be customised 434 00:21:20,680 --> 00:21:23,240 and offer a variety of add-on services. 435 00:21:23,320 --> 00:21:25,120 There are tools in Shopify. 436 00:21:26,000 --> 00:21:28,480 Then probably you can create an economy. 437 00:21:28,560 --> 00:21:32,080 That is the opportunity to scale this business if you want to. 438 00:21:32,640 --> 00:21:34,000 But now, 439 00:21:34,080 --> 00:21:37,400 I don't know how I, as an investor, can exit this, 440 00:21:37,480 --> 00:21:40,520 especially are Rs. 75 lakhs at 1% without dividend. 441 00:21:40,640 --> 00:21:41,840 That's why I am out. 442 00:21:42,520 --> 00:21:44,600 But this is just an idea for you. Best of luck. 443 00:21:45,240 --> 00:21:50,080 All right, guys! You have passion, determination and enthusiasm. 444 00:21:50,720 --> 00:21:52,000 These are good qualities. 445 00:21:52,080 --> 00:21:54,280 But that does not necessarily mean 446 00:21:54,440 --> 00:21:58,520 that you are ready to become a leader of a big company. 447 00:21:59,160 --> 00:22:01,200 I think these are two different journeys. 448 00:22:01,320 --> 00:22:03,920 From here on, you need things like strategy, 449 00:22:04,960 --> 00:22:07,400 business acumen, raising capital, 450 00:22:07,480 --> 00:22:10,760 ability to scale. These are very different skills, right? 451 00:22:10,880 --> 00:22:14,760 And I am not sure if you are currently ready for it. 452 00:22:15,240 --> 00:22:16,360 Therefore, I am out. 453 00:22:17,240 --> 00:22:20,280 Rishabh and Parth, I think this is a real business. 454 00:22:20,360 --> 00:22:22,280 I like real business. 455 00:22:22,360 --> 00:22:25,240 You've been consistently doing this for eight years. 456 00:22:25,320 --> 00:22:27,240 But this is a long journey. 457 00:22:27,320 --> 00:22:30,200 This journey will go on for around 25 years. 458 00:22:31,040 --> 00:22:32,640 I am not worried about the exit. 459 00:22:32,760 --> 00:22:35,200 I believe that if you continue to execute 460 00:22:35,320 --> 00:22:37,880 with focus, discipline and excellence, 461 00:22:37,960 --> 00:22:39,400 over time, this company 462 00:22:39,520 --> 00:22:42,840 will generate revenue of more than Rs. 100 crores and go for an IPO. 463 00:22:43,760 --> 00:22:47,920 Now, I think the customisation you celebrate in your business, 464 00:22:48,080 --> 00:22:51,760 which you believe is a feature, is actually a bug for me. 465 00:22:53,160 --> 00:22:55,880 You can offer a few things, 466 00:22:56,120 --> 00:23:00,200 but currently, you are willing to make it look like a new house. 467 00:23:00,440 --> 00:23:04,120 I think because of that your growth is slow in this business. 468 00:23:05,560 --> 00:23:07,760 While giving the customer choice, 469 00:23:07,880 --> 00:23:10,200 we can also bring standardisation, 470 00:23:10,280 --> 00:23:12,680 which will improve your margin, 471 00:23:12,760 --> 00:23:15,080 speed of delivery could be 1-2 weeks 472 00:23:15,160 --> 00:23:16,600 instead of 4-6 weeks. 473 00:23:16,720 --> 00:23:18,480 People will start buying more. 474 00:23:18,560 --> 00:23:20,120 So, I have an offer for you. 475 00:23:22,800 --> 00:23:23,960 Actually, I'll give you two offers. 476 00:23:24,000 --> 00:23:25,520 [laughing] 477 00:23:25,640 --> 00:23:28,040 So, I'll give you 478 00:23:39,960 --> 00:23:41,480 That's a very good offer. 479 00:23:41,560 --> 00:23:45,520 I doubt that he is giving the right value to a B2B business. 480 00:23:46,680 --> 00:23:50,480 And B2B business is based on relationships. 481 00:23:50,560 --> 00:23:53,840 You have to reinvent the wheel to bring it to every client. 482 00:23:53,920 --> 00:23:57,120 It entails sales, relationships and tendering process. 483 00:23:57,240 --> 00:24:01,160 So, the multiples in consumer businesses, 484 00:24:01,480 --> 00:24:04,960 based on that, you probably 485 00:24:05,160 --> 00:24:06,960 asked for Rs. 75 crores valuation here. 486 00:24:07,320 --> 00:24:10,440 That can't be applied, especially in backend manufacturing. 487 00:24:10,520 --> 00:24:12,280 We are thinking of building a brand, 488 00:24:12,360 --> 00:24:15,200 but we don't know whether the customer thinks that it's a brand. 489 00:24:15,440 --> 00:24:17,600 However, I really like the team. 490 00:24:17,720 --> 00:24:20,640 We rarely get to see a complete founding team 491 00:24:20,720 --> 00:24:24,200 where the set is complementing. You are passionate 492 00:24:24,280 --> 00:24:26,720 about technology and product manufacturing. 493 00:24:26,840 --> 00:24:29,080 You are into sales, marketing and numbers. 494 00:24:29,160 --> 00:24:33,120 That combination is incredible. 495 00:24:33,240 --> 00:24:36,440 My offer is Rs. 75 lakhs for 10%. 496 00:24:44,280 --> 00:24:45,520 I loved it. 497 00:24:45,600 --> 00:24:49,200 The chow mein they used to make 498 00:24:49,280 --> 00:24:52,160 was delicious. So, Priya, my wife and I 499 00:24:52,360 --> 00:24:54,680 have been looking for that van. 500 00:24:54,760 --> 00:24:57,760 We look for that van and specifically go over there. 501 00:24:57,840 --> 00:25:00,280 We enjoy that food. Okay? 502 00:25:00,360 --> 00:25:03,240 The truck you showed was outstanding. 503 00:25:03,920 --> 00:25:07,080 Both the brothers are fantastic. 504 00:25:07,200 --> 00:25:08,480 You need a third brother. 505 00:25:09,360 --> 00:25:13,560 So, my deal is... I don't think you should give a lot of equity. 506 00:25:15,440 --> 00:25:16,680 You were here for Rs. 75 lakhs. 507 00:25:16,720 --> 00:25:18,880 You must have something in mind. You are smart. 508 00:25:20,320 --> 00:25:22,320 Take Rs. 75 lakhs. 509 00:25:23,080 --> 00:25:25,000 You were here for 1%. 510 00:25:25,640 --> 00:25:27,320 Take 5% and go. 511 00:25:33,640 --> 00:25:35,080 See you. 512 00:25:36,320 --> 00:25:38,160 [music playing] 513 00:25:40,480 --> 00:25:43,920 Dad, we have three offers. 514 00:25:44,040 --> 00:25:46,280 I want to see Gupta Chow Mein everywhere. 515 00:25:46,360 --> 00:25:48,160 'Our sales is Rs. 15 crores for sure.' 516 00:25:48,240 --> 00:25:50,400 'We have that many orders.' 517 00:25:50,480 --> 00:25:53,480 Yes, we do. Okay, I'll see what to do. 518 00:26:05,480 --> 00:26:08,440 And the valuation was Rs. 7.5 crores. 519 00:26:08,600 --> 00:26:10,400 It is half of our turnover. 520 00:26:10,480 --> 00:26:13,480 Sorry, Vineeta. We won't like to accept that offer. 521 00:26:14,720 --> 00:26:17,840 Kunal, we would expect some points. 522 00:26:17,920 --> 00:26:20,680 We managed to make our sales Rs. 15 crores. 523 00:26:20,760 --> 00:26:22,960 - So, we want... - Like what? 524 00:26:23,160 --> 00:26:24,440 Let's be specific. 525 00:26:24,920 --> 00:26:27,960 We would expect a valuation of around Rs. 50 crores 526 00:26:28,360 --> 00:26:30,280 and not below that. 527 00:26:31,560 --> 00:26:34,320 Tell us what your counteroffer is. 528 00:26:35,320 --> 00:26:39,080 Our counteroffer is Rs. 1 crore for 2% equity. 529 00:26:46,640 --> 00:26:50,240 I don't think Rs. 50 crores is the right valuation. 530 00:26:51,280 --> 00:26:53,040 For Rs. 1 crore for 2%, I am out. 531 00:26:55,640 --> 00:26:57,720 Do you want to make the business IPO-worthy or not? 532 00:26:58,760 --> 00:26:59,640 We do. 533 00:26:59,760 --> 00:27:01,000 I know how to do that. 534 00:27:01,200 --> 00:27:03,400 But it will be a long journey. 535 00:27:04,200 --> 00:27:07,720 You're offering very little equity. 536 00:27:07,800 --> 00:27:11,880 I asked for 6% for Rs. 1 crore, but you're offering 2%. 537 00:27:13,160 --> 00:27:15,240 An extra 4% won't make any difference. 538 00:27:15,360 --> 00:27:16,920 If this business becomes big, 539 00:27:17,000 --> 00:27:20,360 you will still own the majority and do very well. 540 00:27:21,040 --> 00:27:22,640 But with 2%, 541 00:27:22,760 --> 00:27:27,000 it won't make any significant difference for us, for me. 542 00:27:29,400 --> 00:27:33,120 Sharks, so sorry. We can't go below the valuation of Rs. 50 crores. 543 00:27:33,440 --> 00:27:35,000 You have zero flexibility. 544 00:27:35,960 --> 00:27:38,360 We won't be able to go below Rs. 50 crores. 545 00:27:39,400 --> 00:27:42,680 Sorry, Kunal. We won't be able to accept that offer today. 546 00:27:42,840 --> 00:27:44,360 Okay, guys! I am out. 547 00:27:44,840 --> 00:27:46,200 Wish you all the best. 548 00:27:46,960 --> 00:27:48,600 You should have done this deal. 549 00:27:48,840 --> 00:27:52,160 You could have closed at 3% or 4%. 550 00:27:52,400 --> 00:27:55,400 With this mindset, how will you grow your business? 551 00:27:56,400 --> 00:27:58,560 This was a wrong call. 552 00:27:59,120 --> 00:28:00,560 - Good night. - Good night! 553 00:28:00,640 --> 00:28:02,520 - Okay! - Thank you! 554 00:28:02,600 --> 00:28:04,160 Bye! Lovely meeting you all. 555 00:28:04,360 --> 00:28:06,440 He was too stuck. 556 00:28:06,520 --> 00:28:09,480 'You obviously rethink this.' 557 00:28:09,560 --> 00:28:11,800 'The moment we exited the tank, ' 558 00:28:11,880 --> 00:28:16,080 'we thought if we did the right thing. And then we realised' 559 00:28:16,320 --> 00:28:17,720 'that this is our sales.' 560 00:28:17,800 --> 00:28:22,680 'We deserve that. But they are right on their part.' 561 00:28:22,760 --> 00:28:25,360 'That is their perspective and we have our perspective.' 562 00:28:25,440 --> 00:28:29,080 This is how business is. Stick to your decision and move on. 563 00:28:29,640 --> 00:28:30,640 - Yes! - We did that. 564 00:28:31,800 --> 00:28:33,000 Hello, Rishabh and Parth! 565 00:28:33,520 --> 00:28:36,200 Welcome to PokerBaazi Zone, where you hold the cards. 566 00:28:41,040 --> 00:28:42,760 The thing is there are a lot of similarities 567 00:28:42,840 --> 00:28:43,880 between poker and business. 568 00:28:43,880 --> 00:28:45,680 The game can change at any moment. 569 00:29:12,800 --> 00:29:16,400 The third one is the maturity phase, where we strive to make money 570 00:29:16,480 --> 00:29:18,360 and spend. We are from Delhi. 571 00:29:18,800 --> 00:29:22,440 I want you to share a story related to your business 572 00:29:22,560 --> 00:29:24,440 which is from one of these phases. 573 00:29:24,520 --> 00:29:27,240 - It's from the introduction phase. - Hmm! 574 00:29:27,320 --> 00:29:29,480 In 2016, when we started, 575 00:29:29,560 --> 00:29:34,080 - we exhibited. We had launched our product in an exhibition. - Oh! 576 00:29:34,200 --> 00:29:36,360 And it was just the two of us. 577 00:29:36,440 --> 00:29:38,120 We didn't have a team. 578 00:29:38,200 --> 00:29:42,320 - Our childhood friends and cousins supported us. - Wow! 579 00:29:42,400 --> 00:29:43,680 They were by our side. 580 00:29:43,840 --> 00:29:46,600 And I remember, we took 2,000 cards and we were like, 581 00:29:46,760 --> 00:29:48,360 we will have some to take home. 582 00:29:48,520 --> 00:29:51,360 It was a five-day event, and by the end of the second day, 583 00:29:51,440 --> 00:29:53,600 - our cards were exhausted. - Wow! 584 00:29:53,680 --> 00:29:55,600 That was such 585 00:29:55,800 --> 00:29:58,440 a good feeling that we ran out of cards. 586 00:30:25,080 --> 00:30:29,360 If you excel at skills and strategy like them, visit the PokerBaazi app 587 00:30:29,600 --> 00:30:31,520 and make your winning hand and put your strategies to the test. 588 00:30:31,520 --> 00:30:33,360 Go and download the app now! 589 00:30:48,480 --> 00:30:51,240 [music playing] 590 00:31:04,040 --> 00:31:06,840 - Oh! Cutie! - Oh my God! 591 00:31:24,480 --> 00:31:27,480 Hello, Sharks! We bring to you a challenge. 592 00:31:27,640 --> 00:31:31,680 You have to make these children sit calmly within 30 seconds. 593 00:31:31,760 --> 00:31:33,080 - Are you ready? - Yes! 594 00:31:33,160 --> 00:31:34,800 Your time starts now. 595 00:31:35,120 --> 00:31:36,200 - Come here. - Come on! 596 00:31:36,320 --> 00:31:37,680 Hey! 597 00:31:37,800 --> 00:31:39,040 - He has trained them. - Come on! 598 00:31:39,080 --> 00:31:41,160 - Come here. Where are you going? - Run! 599 00:31:41,320 --> 00:31:42,880 - Look! - Hi! 600 00:31:42,960 --> 00:31:44,480 - Hey! - Hi, come here. 601 00:31:45,080 --> 00:31:47,040 - What is this? - They won't sit. 602 00:31:47,120 --> 00:31:48,440 I caught you! 603 00:31:48,520 --> 00:31:51,360 - Caught you! - You come here! 604 00:31:51,440 --> 00:31:53,800 - I caught you! - Just lift them. 605 00:31:53,920 --> 00:31:56,520 - Do you want something? - I caught you! 606 00:31:56,760 --> 00:31:58,560 Caught you! 607 00:31:58,640 --> 00:32:00,080 Come! 608 00:32:00,520 --> 00:32:02,000 Where did one go? 609 00:32:02,080 --> 00:32:04,840 - Sharks, time up. Time up. - Chase him. 610 00:32:04,920 --> 00:32:07,240 - Time up. It's time up. - He's the naughtiest. 611 00:32:08,520 --> 00:32:10,480 Thanks, I've been skipping my morning cardio. 612 00:32:10,560 --> 00:32:12,640 - The kids did that for you! - Should I catch you? 613 00:32:12,800 --> 00:32:14,320 Wait, we'll help you. 614 00:32:14,520 --> 00:32:16,840 Kids, come here. I have a surprise for you. 615 00:32:17,760 --> 00:32:19,720 Take a look. Play with this. 616 00:32:20,120 --> 00:32:21,320 Sit here. 617 00:32:23,600 --> 00:32:24,600 Did you see, Sharks? 618 00:32:24,640 --> 00:32:27,520 Kids nowadays are no less than baby dons! 619 00:32:27,720 --> 00:32:30,800 After losing to this level of energy and enthusiasm, 620 00:32:30,880 --> 00:32:34,600 parents normally go to only one babysitter, 621 00:32:34,760 --> 00:32:36,400 and they are mobile phones. 622 00:32:37,120 --> 00:32:40,720 Sharks, we present to you Busy Boards by ClapStore 623 00:32:41,560 --> 00:32:43,520 which are a perfect alternative to screens. 624 00:32:43,640 --> 00:32:44,640 Greetings, Sharks. 625 00:32:47,280 --> 00:32:48,280 Greetings, Sharks. 626 00:32:51,120 --> 00:32:52,440 [Marathi] We're from Pune. 627 00:32:52,560 --> 00:32:54,680 And we are the founders of ClapStore Toys. 628 00:32:56,120 --> 00:32:58,200 ClapStore Toys is a kids' toy brand 629 00:32:58,320 --> 00:33:00,120 that makes specialised toys 630 00:33:00,200 --> 00:33:02,880 to reduce the screen time of kids between 0 to 6 years. 631 00:33:08,360 --> 00:33:10,560 improving their fine motor skills, 632 00:33:16,840 --> 00:33:18,640 ...we introduced a new category in India 633 00:33:18,760 --> 00:33:20,560 called Portable Busy Boards. 634 00:33:30,000 --> 00:33:31,840 to over 50,000 happy customers so far. 635 00:33:33,080 --> 00:33:35,800 We envision seeing our Busy Boards in every household 636 00:33:35,880 --> 00:33:38,120 providing relief to parents over kids' high screen times. 637 00:33:38,200 --> 00:33:41,800 So, our ask is Rs. 80 lakhs for 4% equity. 638 00:33:46,640 --> 00:33:48,160 Throw away your mobile phones 639 00:33:48,240 --> 00:33:50,400 and get your kids a Busy Board! 640 00:33:52,600 --> 00:33:53,520 Come on. 641 00:33:53,600 --> 00:33:54,600 - Bye! - So sweet. 642 00:33:54,640 --> 00:33:55,680 - Catch him. - Say bye. 643 00:33:55,760 --> 00:33:56,800 - Bye! - Catch him. 644 00:33:56,880 --> 00:33:57,880 See you. 645 00:34:01,200 --> 00:34:03,880 Yash and Vedang, welcome to Shark Tank. 646 00:34:04,280 --> 00:34:05,560 Tell us about yourselves. 647 00:34:05,640 --> 00:34:08,120 How did you start ClapStore? 648 00:34:08,880 --> 00:34:10,480 I've studied Psychology. 649 00:34:10,640 --> 00:34:12,200 And I've studied BBA. 650 00:34:12,320 --> 00:34:14,720 The lockdown was imposed after grade twelve. 651 00:34:14,800 --> 00:34:15,960 We wanted to prove ourselves. 652 00:34:16,080 --> 00:34:17,840 So, I purchased a domain for ClapStore 653 00:34:17,920 --> 00:34:20,080 and started the business with a dropshipping model. 654 00:34:21,480 --> 00:34:23,960 'Dropshipping is a great way' 655 00:34:24,280 --> 00:34:26,560 'for first-time entrepreneurs to get into business.' 656 00:34:26,880 --> 00:34:30,040 'Without keeping any inventory with you,' 657 00:34:30,280 --> 00:34:32,440 'it allows you to sell your products on e-commerce.' 658 00:34:32,800 --> 00:34:34,880 'You can list the products online' 659 00:34:35,000 --> 00:34:39,000 'which will reach the customers directly from the manufacturers' 660 00:34:39,080 --> 00:34:42,560 'allowing you to keep their margin.' 661 00:34:44,360 --> 00:34:46,600 We ran a dropshipping model for about 1.5 years 662 00:34:56,960 --> 00:34:59,320 to reduce the screen time of kids by making creative toys. 663 00:34:59,600 --> 00:35:01,840 We began selling plastic generic toys. 664 00:35:02,560 --> 00:35:04,360 We'd reached a good scale 665 00:35:04,440 --> 00:35:06,680 but realised our ad creatives were being easily copied. 666 00:35:06,840 --> 00:35:09,680 We knew we couldn't make this a long-term sustainable business 667 00:35:09,760 --> 00:35:11,520 as well as a good brand. 668 00:35:11,720 --> 00:35:13,880 We thought of introducing an entry barrier. 669 00:35:14,040 --> 00:35:15,560 We conducted market research 670 00:35:15,640 --> 00:35:18,040 and identified the global category of portable busy boards. 671 00:35:18,120 --> 00:35:20,120 I ordered MDF sheets at home, 672 00:35:20,240 --> 00:35:22,200 had them laser cut into a box, 673 00:35:22,280 --> 00:35:23,640 brought it home, painted it, 674 00:35:23,720 --> 00:35:26,880 fixed switches and LEDs on it and made a product from it. 675 00:35:26,960 --> 00:35:29,280 I did a photoshoot of it and ran an ad the next day. 676 00:35:29,400 --> 00:35:31,200 I started getting orders from day one. 677 00:35:31,280 --> 00:35:34,480 Thus began our journey of building the Busy Boards category in India. 678 00:35:34,560 --> 00:35:36,000 I don't know what a Busy Board is. 679 00:35:36,280 --> 00:35:37,800 [music playing] 680 00:35:41,320 --> 00:35:43,800 - Oh, are these Busy Boards? - Yes, they are. 681 00:35:43,880 --> 00:35:44,880 Okay. 682 00:35:45,560 --> 00:35:47,240 Give me the Mini one. 683 00:35:47,320 --> 00:35:49,400 I don't know how to operate this. How do I play? 684 00:35:49,480 --> 00:35:54,000 So, it's basically for children aged 6 months to 6 years 685 00:35:54,160 --> 00:35:58,120 that require the development of fine motor skills. 686 00:35:58,200 --> 00:36:01,600 The buttons and switches trigger fine motor skills in kids. 687 00:36:01,680 --> 00:36:03,760 The smaller muscles of the fingers 688 00:36:04,080 --> 00:36:06,520 generate holding powers and writing powers 689 00:36:06,600 --> 00:36:08,600 so that they don't have issues going forward. 690 00:36:08,720 --> 00:36:10,200 Also, it's a replacement for a screen. 691 00:36:10,280 --> 00:36:11,280 Hence, this size. 692 00:36:11,320 --> 00:36:13,000 - Vedang, what does this do? - Yes? 693 00:36:13,080 --> 00:36:14,360 What does this develop? 694 00:36:14,440 --> 00:36:16,320 - So, the aux wire... - Should I put it here? 695 00:36:16,400 --> 00:36:17,440 - Right, yes... - Then? 696 00:36:17,520 --> 00:36:19,080 - A light will glow. - And then? 697 00:36:19,200 --> 00:36:21,320 That develops hand-eye coordination in kids. 698 00:36:21,440 --> 00:36:25,600 And the glowing light helps kids with colour recognition. 699 00:36:25,680 --> 00:36:27,440 - Nice. - Cool, it'll keep kids busy. 700 00:36:27,520 --> 00:36:28,520 Yes, exactly. 701 00:36:29,360 --> 00:36:31,080 - The name's good. Busy Board. - Busy Board. 702 00:36:31,120 --> 00:36:32,360 Busy Board! 703 00:36:32,440 --> 00:36:34,400 - They'll be busy pressing buttons. - Give me that, Vineeta. 704 00:36:34,400 --> 00:36:35,800 Busy for how many minutes is the question. 705 00:36:35,840 --> 00:36:37,480 How much time will a kid spend on this? 706 00:36:37,560 --> 00:36:41,200 We've spoken to about a thousand existing customers. 707 00:36:41,360 --> 00:36:44,720 They say their child plays with it for 10 to 15 minutes at a go 708 00:36:44,800 --> 00:36:47,760 and about 3 to 4 times a day. 709 00:36:47,840 --> 00:36:49,120 I must admit 710 00:36:51,320 --> 00:36:53,680 The quality, finish 711 00:36:53,760 --> 00:36:57,520 - and the branding are pretty good. - Yes. 712 00:36:59,360 --> 00:37:02,720 - Great. Now, this is a solar system learning... - Yes. 713 00:37:02,920 --> 00:37:04,000 Solar Galaxy Explorer. 714 00:37:04,080 --> 00:37:05,240 And I have been trying 715 00:37:05,600 --> 00:37:08,320 to teach the solar system to my son for some time. 716 00:37:08,400 --> 00:37:09,400 But this is much better 717 00:37:09,440 --> 00:37:11,880 - because it has these motor skills, right? - Yes. 718 00:37:11,960 --> 00:37:14,040 I'll buy all your boards one by one. 719 00:37:20,880 --> 00:37:21,680 Creative play. 720 00:37:21,760 --> 00:37:25,440 The kids will learn some skills while playing. 721 00:37:25,520 --> 00:37:27,160 Very different and very cool. 722 00:37:27,240 --> 00:37:28,920 - Tell me something. - Yes. 723 00:37:29,040 --> 00:37:31,960 Your entire business is predicated... 724 00:37:32,240 --> 00:37:34,760 - Your claim is... - [music playing on toy] 725 00:37:34,840 --> 00:37:36,040 We are trying to get... 726 00:37:36,280 --> 00:37:37,600 Do you see this? 727 00:37:37,680 --> 00:37:40,200 If kids are given a Busy Board, 728 00:37:40,280 --> 00:37:42,760 it'll be worse than screen time! 729 00:37:42,840 --> 00:37:44,400 We have boards without sounds too. 730 00:37:44,520 --> 00:37:46,440 - Give it to him. - Buttons... 731 00:37:46,520 --> 00:37:47,800 Don't sell anything without sound. 732 00:37:47,840 --> 00:37:49,240 We'll use boAt for the sound. 733 00:37:50,040 --> 00:37:51,080 Yes, no one else. 734 00:37:51,160 --> 00:37:52,800 So, the biggest issue is 735 00:37:52,880 --> 00:37:55,640 - that screen time is bad for children. - Yes. 736 00:37:55,760 --> 00:37:58,640 Are there any definitive studies about how bad it is? 737 00:37:59,000 --> 00:38:00,480 It's mainly mindless screen time. 738 00:38:00,600 --> 00:38:03,520 If kids use the screen for studying purposes, that's important, 739 00:38:03,640 --> 00:38:05,920 but mindless screen time is what is hampering them. 740 00:38:06,240 --> 00:38:09,400 Many countries have come up with strict regulations. 741 00:38:09,640 --> 00:38:12,360 'No social media or social network' 742 00:38:12,480 --> 00:38:14,320 'for children below teens.' 743 00:38:14,920 --> 00:38:16,920 - For instance, Australia. - 16 years. 744 00:38:17,000 --> 00:38:18,840 - They've set the age to 16. - Yes. 745 00:38:18,960 --> 00:38:21,760 - In Europe, there are a couple of countries... - [music playing] 746 00:38:22,280 --> 00:38:24,160 - Where they're debating over 12 years. - Right? 747 00:38:24,680 --> 00:38:29,080 - So, if you're not able to use social media or network... - Hmm. 748 00:38:29,160 --> 00:38:31,440 Kids wouldn't be having any screen time. 749 00:38:31,520 --> 00:38:33,320 For 0 to 6 years, 750 00:38:33,400 --> 00:38:35,720 - we don't want them using phones. - No matter how much you control. 751 00:38:35,760 --> 00:38:37,200 Yash and Vedang, tell me something. 752 00:38:37,280 --> 00:38:38,640 You must be 23 or 24. 753 00:38:39,120 --> 00:38:40,960 - I'm 22 and Vedang is 21. - 21. 754 00:38:41,040 --> 00:38:42,800 I'm sure you don't have kids. 755 00:38:43,040 --> 00:38:45,800 Then what inspired you to make Montessori toys? 756 00:38:45,960 --> 00:38:47,880 We used to sell plastic Chinese toys before. 757 00:38:47,960 --> 00:38:49,280 They were being easily copied. 758 00:38:49,400 --> 00:38:51,680 So, we built our own product to create an entry barrier. 759 00:38:51,760 --> 00:38:54,160 We started selling it and took customer feedback. 760 00:38:54,280 --> 00:38:56,040 The customers demanded Montessori toys. 761 00:38:56,120 --> 00:38:58,840 - So, the customers asked you to make Montessori toys. - Right. 762 00:38:58,920 --> 00:39:00,240 These can be copied too. 763 00:39:00,360 --> 00:39:02,360 - Definitely. These can be copied too. - Yes. 764 00:39:02,440 --> 00:39:03,320 We are ready for it. 765 00:39:03,400 --> 00:39:06,840 In the last three months, we have invested in manufacturing. 766 00:39:15,440 --> 00:39:16,800 - I want to show it to you. - Yes. 767 00:39:16,880 --> 00:39:18,360 - That's very interesting. - Hang on. 768 00:39:20,760 --> 00:39:22,720 We tried to crack it for many days but in vain. 769 00:39:22,840 --> 00:39:23,920 - This one. - Then what worked? 770 00:39:23,960 --> 00:39:25,640 Give it to me. I'll crack it in one second. 771 00:39:25,680 --> 00:39:27,440 You have to do this. 772 00:39:28,760 --> 00:39:30,560 - This is cool. Great! - [music playing] 773 00:39:30,640 --> 00:39:31,880 What is this prototype? 774 00:39:32,000 --> 00:39:33,560 We took customer feedback. 775 00:39:33,640 --> 00:39:35,600 They wanted something that was touch-enabled. 776 00:39:35,680 --> 00:39:37,960 So, majorly it senses the touch. 777 00:39:38,080 --> 00:39:40,560 Hang on. Complete the story first. 778 00:39:40,640 --> 00:39:42,760 You were talking about your defensibility. 779 00:39:42,840 --> 00:39:44,080 - Right. - Please complete that. 780 00:39:44,080 --> 00:39:46,280 There are two main factors that determine defensibility. 781 00:39:46,320 --> 00:39:47,480 The first is our R&D process 782 00:39:47,560 --> 00:39:49,640 which we've strengthened in the last 3 months. 783 00:39:49,720 --> 00:39:52,840 The second thing is our brand entry and positioning. 784 00:39:53,600 --> 00:39:56,560 If anyone wants screen replacement, we want them 785 00:39:56,640 --> 00:39:58,160 to come to us ClapStore Toys. 786 00:39:58,240 --> 00:40:00,240 And that's a unique character to copy. 787 00:40:00,840 --> 00:40:04,080 We think our defensibility will come from offering more products. 788 00:40:04,240 --> 00:40:07,240 We will have the first-mover advantage obviously. 789 00:40:07,320 --> 00:40:09,920 So, even if there is competition, 790 00:40:10,040 --> 00:40:11,320 we will make new SKUs 791 00:40:11,400 --> 00:40:13,680 which will be more engaging than the previous ones 792 00:40:13,760 --> 00:40:15,560 and we'll try to acquire new customers. 793 00:40:15,640 --> 00:40:16,800 Can we see your factory? 794 00:40:17,080 --> 00:40:18,120 - Um, sure. - Yes. 795 00:40:18,240 --> 00:40:21,040 - Yes, photos of the assembly line. - The assembly line is of two types. 796 00:40:21,040 --> 00:40:23,760 The box is built in a factory and then goes to the assembly line. 797 00:40:23,840 --> 00:40:25,520 Oh, so it's made manually or by hand. 798 00:40:25,640 --> 00:40:28,320 No, the PCB is ready. We just plug and play. 799 00:40:28,400 --> 00:40:29,840 Did you design the PCB? 800 00:40:29,960 --> 00:40:31,320 I made the first product at home. 801 00:40:31,400 --> 00:40:34,200 Then we approached the supplier and they designed it. 802 00:40:34,680 --> 00:40:36,560 Could you tell us about the pricing? 803 00:40:36,680 --> 00:40:38,200 We sell this at discount. 804 00:40:38,280 --> 00:40:40,160 They range from Rs. 500 to 1,800. 805 00:40:40,240 --> 00:40:41,560 How much does this cost? 806 00:40:41,640 --> 00:40:43,320 - That is Rs. 500. - Rs. 499. 807 00:40:43,440 --> 00:40:46,320 - Very good. - What about Rhyme House that says Rs. 2,500? 808 00:40:46,440 --> 00:40:47,800 Rs. 1,500... 1,499. 809 00:40:49,200 --> 00:40:50,920 When did you start selling? 810 00:40:51,040 --> 00:40:55,080 We launched this product in January 2023. 811 00:40:55,200 --> 00:40:58,880 Okay. What was the revenue in 2023-24? 812 00:40:59,360 --> 00:41:00,920 Rs. 2.54 crores. 813 00:41:01,000 --> 00:41:02,000 Wow! 814 00:41:02,040 --> 00:41:05,400 And we've done Rs. 2.4 crores so far in 7 months. 815 00:41:05,480 --> 00:41:07,240 - 7 months. - We did Rs. 62 lakhs last month. 816 00:41:07,280 --> 00:41:10,800 - That must be because of Diwali. - This month, we'll do Rs. 70 lakhs. 817 00:41:13,280 --> 00:41:15,280 - Yes, we've done Rs. 12 lakh so far. - Okay. 818 00:41:15,360 --> 00:41:16,960 How much did you do in August? 819 00:41:17,080 --> 00:41:19,000 In August, we did Rs. 33 lakhs. 820 00:41:19,840 --> 00:41:21,760 - Projected sales for the year? - Rs. 6 crores. 821 00:41:21,880 --> 00:41:22,880 How much profit will you make? 822 00:41:22,880 --> 00:41:24,480 Our EBITDA is 18%. 823 00:41:27,920 --> 00:41:30,280 What was last year's profit? 824 00:41:30,360 --> 00:41:31,320 It was less last year. 825 00:41:31,400 --> 00:41:34,320 Our PAT was 2.7% as we were looking for a PMF 826 00:41:34,400 --> 00:41:35,480 and doing third-party manufacturing. 827 00:41:35,520 --> 00:41:37,360 - Good... - They're familiar with the terminology! 828 00:41:37,400 --> 00:41:38,960 - All the words! - Yes... 829 00:41:39,080 --> 00:41:40,640 How many times did you watch Shark Tank? 830 00:41:40,720 --> 00:41:41,800 Many times, all the episodes. 831 00:41:41,800 --> 00:41:43,200 We watched all the episodes before coming here. 832 00:41:43,240 --> 00:41:45,080 Tell us your equity split. 833 00:41:45,240 --> 00:41:46,280 31.5%. 834 00:41:46,360 --> 00:41:47,240 58.5%. 835 00:41:47,320 --> 00:41:48,680 And 10% is with investors. 836 00:41:48,800 --> 00:41:50,760 Who is the investor? 837 00:41:51,040 --> 00:41:52,520 Last year, through WTFund. 838 00:41:52,600 --> 00:41:55,560 It was released through Nikhil Kamath's podcast. 839 00:41:55,640 --> 00:41:58,080 Around 1,500 companies had applied. 840 00:41:58,200 --> 00:42:00,960 There were two winners and ClapStore Toys was one of them. 841 00:42:01,600 --> 00:42:03,480 So, it was Nikhil Kamath, Kishore Biyani, 842 00:42:03,720 --> 00:42:05,640 Anand Shankarnarayan and Raj Shamani. 843 00:42:05,920 --> 00:42:07,520 - How much did they invest? - Rs. 10 lakhs each. 844 00:42:07,560 --> 00:42:08,480 - Rs. 10 lakhs each. - Rs. 10 lakhs. 845 00:42:08,560 --> 00:42:10,560 - How much equity? - We diluted 10%. 846 00:42:10,640 --> 00:42:13,120 - Total investment? - 2.5%. Rs. 40 lakhs. 847 00:42:13,200 --> 00:42:15,800 - At what valuation? - A flat valuation of Rs. 4 crores. 848 00:42:15,880 --> 00:42:17,600 - So, Rs. 20 crores. - Yes. 849 00:42:17,800 --> 00:42:19,880 Your valuation went from Rs. 4 crores to 20 crores! 850 00:42:20,520 --> 00:42:23,160 They saw our last month's revenue and calculated our ARR. 851 00:42:23,240 --> 00:42:24,840 - When did it hit the bank? - March. 852 00:42:28,240 --> 00:42:29,760 About Rs. 15 to 20 lakhs. 853 00:42:29,880 --> 00:42:31,200 How much inventory do you have? 854 00:42:31,680 --> 00:42:34,040 Rs. 5,000 inventory worth about Rs. 45 lakhs. 855 00:42:34,120 --> 00:42:35,440 45 on cost? 856 00:42:35,680 --> 00:42:36,960 - Selling price. - Selling price. 857 00:42:38,880 --> 00:42:41,080 We'll know from their unit economics. 858 00:42:41,720 --> 00:42:44,400 Our cost of goods sold is 35%. 859 00:42:44,480 --> 00:42:46,880 Then comes logistics and packaging at 10%. 860 00:42:46,960 --> 00:42:49,480 Marketing comes to 24%. 861 00:42:49,560 --> 00:42:53,640 Then come our fixed costs at around 13 to 14%. 862 00:42:53,760 --> 00:42:55,480 So, our EBITDA is around 18%. 863 00:42:56,640 --> 00:42:58,400 Let me ask you a question. 864 00:42:58,520 --> 00:43:02,480 I don't understand why your sales have increased. 865 00:43:02,560 --> 00:43:06,000 There is something you are doing which is unconventional. 866 00:43:06,120 --> 00:43:07,120 What is it? 867 00:43:07,880 --> 00:43:09,120 Since this was a new category, 868 00:43:09,200 --> 00:43:11,760 we knew we had to create brand awareness. 869 00:43:11,840 --> 00:43:15,080 So, we collaborated with 30 to 40 influencers per month 870 00:43:15,200 --> 00:43:18,880 who post reels every day which we use as our ads. 871 00:43:24,760 --> 00:43:25,760 - Baby influencers. - Yes. 872 00:43:25,800 --> 00:43:28,800 - So, this spend comes under your 24% marketing spend. - Yes. 873 00:43:28,880 --> 00:43:30,560 Could you break this down? 874 00:43:30,680 --> 00:43:33,240 Let's suppose your sales in any given month is Rs. 50 lakhs. 875 00:43:33,320 --> 00:43:34,680 How much does the influencer get? 876 00:43:34,760 --> 00:43:36,480 No, we barter! They're barter collaborators. 877 00:43:39,880 --> 00:43:40,960 We have a team. 878 00:43:41,080 --> 00:43:43,680 We ask them to post and use their videos as ads. 879 00:43:43,760 --> 00:43:45,720 - Amazing. - We look at the quality and not their followers 880 00:43:45,720 --> 00:43:47,600 because we've to use them as ads. 881 00:43:47,680 --> 00:43:49,720 Good one, man! You've cracked this well. 882 00:43:49,840 --> 00:43:51,880 Marketing that content 883 00:43:51,960 --> 00:43:54,800 in a format of direct selling is fantastic 884 00:43:54,880 --> 00:43:56,760 because you've to create a category. 885 00:43:57,440 --> 00:44:00,680 Yash! Vedang! Where do you want to go from here? What's the vision? 886 00:44:00,800 --> 00:44:03,320 We want to achieve a sales of Rs. 2 crores a month in 12 months. 887 00:44:03,440 --> 00:44:04,440 [chuckles] 888 00:44:05,040 --> 00:44:06,320 - Will you? - Yes. 889 00:44:06,400 --> 00:44:08,200 What's the process? How will you do it? 890 00:44:39,920 --> 00:44:41,720 What's the share of these channels? 891 00:44:41,840 --> 00:44:43,320 Amazon's is 50%. 892 00:44:43,400 --> 00:44:46,080 40% is from our website and 10% from the remaining channels. 893 00:44:46,160 --> 00:44:47,680 There's still a lot of room for growth. 894 00:44:47,760 --> 00:44:49,560 - Yes, definitely. - As you go on other channels... 895 00:44:49,600 --> 00:44:51,240 We've to work on the supply and demand. 896 00:44:51,320 --> 00:44:53,400 - So, supply is your main problem. - Yes. 897 00:44:53,480 --> 00:44:54,360 Not demand. 898 00:44:54,440 --> 00:44:56,520 - Not demand, we've to manage supply. - Supply. 899 00:44:56,600 --> 00:44:58,200 Yash and Vedang, let me make you an offer. 900 00:44:58,240 --> 00:44:59,560 I really like you two. 901 00:44:59,920 --> 00:45:02,880 The offer is Rs. 40 lakhs for 4% equity. 902 00:45:04,560 --> 00:45:07,640 And Rs. 40 lakhs debt at 10% interest for 2 years. 903 00:45:13,200 --> 00:45:14,720 ...that your energy is high. 904 00:45:14,800 --> 00:45:19,280 - Thank you. - Secondly, you're fast learners. 905 00:45:19,600 --> 00:45:22,000 You can even think of building a LEGO in the future 906 00:45:22,080 --> 00:45:23,080 - around this. - Exactly. 907 00:45:23,120 --> 00:45:26,560 And I see that hunger and passion. 908 00:45:27,560 --> 00:45:30,320 I'll make you an offer. Rs. 80 lakhs at 8%. 909 00:45:36,000 --> 00:45:37,440 You wanted to dilute 4%. 910 00:45:37,960 --> 00:45:40,160 An offer of 8%. That's too little. 911 00:45:40,400 --> 00:45:41,920 Okay, let's do one thing. 912 00:45:42,840 --> 00:45:46,640 I think the pivot you took was the biggest highlight. 913 00:45:48,680 --> 00:45:51,120 You've done such fine work. 914 00:45:51,360 --> 00:45:54,240 Even though you don't have kids, you figured out the problems. 915 00:45:54,360 --> 00:45:57,880 So, obviously, you possess customer-centricity. 916 00:46:01,080 --> 00:46:03,480 It needs to be formalised as you scale, 917 00:46:03,560 --> 00:46:04,800 but I think when the time comes, 918 00:46:04,800 --> 00:46:07,080 you'll make another pivot and add more categories 919 00:46:07,160 --> 00:46:09,880 - as long as you stay with screen-free childhood... - Yes. 920 00:46:10,000 --> 00:46:12,680 - It's a very interesting proposition. - Yes. 921 00:46:12,800 --> 00:46:14,560 Let's bet on it today. 922 00:46:15,440 --> 00:46:18,560 Let's make this fair. You'll get two Sharks also. 923 00:46:18,600 --> 00:46:21,080 Aman and I will come on board. Rs. 80 lakhs for 7% equity. 924 00:46:24,320 --> 00:46:25,680 I think it's fair and square. 925 00:46:25,760 --> 00:46:27,640 - But they need help with the supply chain. - A good deal. 926 00:46:27,680 --> 00:46:30,000 - So, what... - We know the make-in-India supply chain. 927 00:46:30,760 --> 00:46:31,760 [chuckles] 928 00:46:33,120 --> 00:46:34,840 Fantastic founders. 929 00:46:34,960 --> 00:46:36,000 Forget your age. 930 00:46:36,080 --> 00:46:37,920 Even if you were 32 years old, 931 00:46:38,040 --> 00:46:40,320 the clarity with which you're building your business 932 00:46:40,400 --> 00:46:41,400 is very impressive. 933 00:46:41,480 --> 00:46:46,360 Your sense of positioning a brand to the consumer 934 00:46:46,480 --> 00:46:47,640 is very solid. 935 00:46:48,040 --> 00:46:50,200 So, I'll also make you an offer. 936 00:46:51,840 --> 00:46:54,760 I don't think your ask is too off. 937 00:46:54,800 --> 00:46:57,960 - So, my offer will be Rs. 40 lakhs for 2.5%. - Okay. 938 00:46:58,000 --> 00:46:59,840 Which is a valuation of Rs. 16 crores. 939 00:46:59,920 --> 00:47:02,200 And on top of that, Rs. 40 lakhs debt. 940 00:47:02,280 --> 00:47:04,960 - Same 10% interest for 3 years. - Okay. 941 00:47:10,200 --> 00:47:13,320 are not necessarily people of pedigree 942 00:47:13,600 --> 00:47:15,080 or the smartest, 943 00:47:15,160 --> 00:47:16,880 but they're learning machines. 944 00:47:17,000 --> 00:47:20,520 I don't see where the company and founder are currently. 945 00:47:21,200 --> 00:47:25,160 - What I see is, five years down the line... - Correct. 946 00:47:25,640 --> 00:47:28,000 Where will this founder and business be. 947 00:47:28,480 --> 00:47:32,200 - Given your trajectory, you're going to do well. - Yes. 948 00:47:32,280 --> 00:47:34,520 What deal would you like to close? 949 00:47:34,600 --> 00:47:35,720 Oh! 950 00:47:37,240 --> 00:47:38,680 Okay, I'll change the offer. 951 00:47:38,760 --> 00:47:40,360 Rs. 80 lakhs for 4% equity. Whatever you ask. 952 00:47:40,400 --> 00:47:42,440 Okay! 953 00:47:42,800 --> 00:47:44,200 But you say yes now. 954 00:47:46,120 --> 00:47:48,320 - No, don't say yes now. - Say yes now. 955 00:47:48,400 --> 00:47:49,640 [laughs] 956 00:47:50,400 --> 00:47:52,640 I give... Anupam and I will come together. 957 00:47:52,760 --> 00:47:53,760 Say yes now. 958 00:47:53,840 --> 00:47:55,360 Say yes now... 959 00:47:55,480 --> 00:47:57,200 At least let us hear it, please. 960 00:47:57,280 --> 00:47:59,800 So, we will come on board together. Okay? 961 00:48:00,400 --> 00:48:03,280 At your original ask. Rs. 80 lakhs for 4% equity. 962 00:48:06,600 --> 00:48:08,080 If you want more, just say so. 963 00:48:08,160 --> 00:48:10,680 No. This is our requirement, we don't need more. 964 00:48:11,480 --> 00:48:14,360 I think you should decide who you want as a partner. 965 00:48:14,440 --> 00:48:15,960 - Yes. - Everyone here is good. 966 00:48:16,080 --> 00:48:18,520 If you want to build a big business, 967 00:48:19,080 --> 00:48:20,080 you'll also need 968 00:48:20,160 --> 00:48:22,920 - institutional investor support. - Right. 969 00:48:23,200 --> 00:48:25,040 - We could give you that. - Okay. 970 00:48:25,320 --> 00:48:28,840 So, I too am ready to give you Rs. 80 lakhs for 4% equity. 971 00:48:28,920 --> 00:48:30,120 [tense music playing] 972 00:48:34,440 --> 00:48:36,520 Can we get all five Sharks on board for 5% equity? 973 00:48:40,000 --> 00:48:41,440 I won't do a five-Shark deal. 974 00:48:42,520 --> 00:48:43,560 Hey, no? 975 00:48:44,200 --> 00:48:46,120 You don't want to do it! What happened? 976 00:48:46,320 --> 00:48:47,320 Not in the mood. 977 00:48:47,840 --> 00:48:49,720 Please, Anupam. 978 00:48:50,840 --> 00:48:52,640 Why do you want so many founders? 979 00:48:53,480 --> 00:48:57,120 The expertise you serve and they serve are very different. 980 00:48:57,720 --> 00:48:59,400 If you want an all-Shark deal, 981 00:48:59,480 --> 00:49:02,040 that 1% equity doesn't bring closure. 982 00:49:02,120 --> 00:49:05,040 Unfortunately, with a low equity of 1 or 2%, 983 00:49:05,320 --> 00:49:07,080 people stop paying any heed. 984 00:49:08,240 --> 00:49:10,960 I'll tell you very honestly. You guys are too early. 985 00:49:11,120 --> 00:49:13,400 The idea is to get to work with you. 986 00:49:14,480 --> 00:49:16,520 I don't know how the business will turn out, 987 00:49:16,600 --> 00:49:18,400 and in future, you will need money. 988 00:49:19,680 --> 00:49:21,440 Hey, don't intimidate us. Sit down. 989 00:49:21,560 --> 00:49:22,920 - No, I'm just talking... - Sit down. 990 00:49:22,920 --> 00:49:25,120 If you guys want an all-Shark deal, let's talk about it. 991 00:49:26,360 --> 00:49:27,960 Peyush, are you in for an all-Shark deal? 992 00:49:28,080 --> 00:49:29,240 That's what I was saying. 993 00:49:29,320 --> 00:49:30,640 - That... - What about you? 994 00:49:30,840 --> 00:49:32,240 - Yes! - I'm okay, let's do it. 995 00:49:32,320 --> 00:49:34,680 - Let's discuss this... - Then there will be only one deal. 996 00:49:34,760 --> 00:49:37,360 Let them go so we can talk openly. 997 00:49:37,440 --> 00:49:38,440 We will be back. 998 00:49:41,760 --> 00:49:45,000 We cannot do all-Shark if one of us leaves. 999 00:49:45,080 --> 00:49:47,160 Let's not squeeze them dry. They're kids. 1000 00:49:47,320 --> 00:49:48,480 No, I'm not doing it then. 1001 00:49:48,560 --> 00:49:50,480 Six... Three months ago, 1002 00:49:50,560 --> 00:49:53,520 - they gave equity to Nikhil Kamath at a Rs. 4-crore valuation. - Yes. 1003 00:49:53,600 --> 00:49:56,320 You're converting that Rs. 4 crores to 20 crores in 4 months. 1004 00:49:56,880 --> 00:49:59,760 - Their run rate... - Don't you think they might not have checked it? 1005 00:49:59,840 --> 00:50:02,080 They have a one-month run rate because of Diwali. That's gone. 1006 00:50:02,120 --> 00:50:04,640 - They must've seen the trajectory. - The bet is on the founders. 1007 00:50:04,680 --> 00:50:05,480 The bet is on the founders. 1008 00:50:05,560 --> 00:50:07,520 - That's why I said let's discuss. - Rs. 5 crore revenue run rate. 1009 00:50:07,520 --> 00:50:10,200 Rs. 1 crore for 10% is the only deal we should give. That's it. 1010 00:50:10,280 --> 00:50:11,160 - I'm okay. - Fine. 1011 00:50:11,240 --> 00:50:13,000 - Yes? At least we have skin in the game. - Hmm. 1012 00:50:13,040 --> 00:50:16,520 I think we'll have to go from Rs. 10 to 14 crores... 1013 00:50:16,600 --> 00:50:17,440 It's not a big deal. 1014 00:50:17,520 --> 00:50:19,920 - In the larger scheme, we should hold equity. - Yes. 1015 00:50:20,000 --> 00:50:21,360 I am sensing 1016 00:50:21,720 --> 00:50:23,760 - they will not give 10% equity. - Okay. 1017 00:50:23,880 --> 00:50:26,120 - Let's see. Then we'll talk. - We've to move to royalty. 1018 00:50:28,840 --> 00:50:30,400 - Is it okay if I drink water? - May we? 1019 00:50:30,520 --> 00:50:31,800 Yes, please drink. 1020 00:50:31,880 --> 00:50:34,440 - If you need something else, please drink that also right now. - No. 1021 00:50:34,480 --> 00:50:36,320 You want to play with your toy for two minutes? 1022 00:50:36,400 --> 00:50:37,760 [laughter] 1023 00:50:38,840 --> 00:50:41,760 Look. When all five Sharks come on board together, 1024 00:50:41,920 --> 00:50:43,240 we'll be bringing a lot of value. 1025 00:50:43,280 --> 00:50:45,120 You were just saying something else! 1026 00:50:45,200 --> 00:50:46,640 [laughter] 1027 00:50:50,640 --> 00:50:52,760 No, let me tell you what I meant. 1028 00:50:52,880 --> 00:50:55,640 There are five fingers and each one has a different use. 1029 00:50:55,720 --> 00:50:58,120 - Sometimes, you need this one too. - Yes. 1030 00:50:58,240 --> 00:51:00,240 So, we will give you a combined offer. 1031 00:51:00,320 --> 00:51:01,640 That's the only offer you have. 1032 00:51:04,840 --> 00:51:07,480 - So, we'll offer you Rs. 1 crore. - Okay. 1033 00:51:08,040 --> 00:51:09,080 For 10% equity. 1034 00:51:09,360 --> 00:51:10,800 [tense music playing] 1035 00:51:18,920 --> 00:51:20,280 [tense music playing] 1036 00:51:24,720 --> 00:51:25,560 - What is it? - We'll do it. 1037 00:51:25,640 --> 00:51:27,600 - You have a deal. - All right. 1038 00:51:27,960 --> 00:51:29,320 Thank you so much. 1039 00:51:45,920 --> 00:51:47,920 - Yes! - I'd have taken them all. 1040 00:51:48,000 --> 00:51:50,800 - This is a great deal. - Yes, really good deal. 1041 00:51:52,720 --> 00:51:54,520 'Given the expertise the Sharks will bring,' 1042 00:51:54,640 --> 00:51:58,560 we feel that 2% justifies its value. 1043 00:51:58,640 --> 00:52:00,720 So, we didn't think much. 1044 00:52:00,840 --> 00:52:02,600 - Value addition... - Value addition was enough 1045 00:52:02,680 --> 00:52:06,120 because valuation can be generated going forward too, 1046 00:52:06,200 --> 00:52:08,440 - but value is what we needed. - We got some great minds. 1047 00:52:08,520 --> 00:52:09,520 Yes. 1048 00:52:09,680 --> 00:52:10,960 - Hello, Yash and Vedang. - Hello. 1049 00:52:11,000 --> 00:52:12,080 - Welcome. - Yes. 1050 00:52:12,280 --> 00:52:13,160 How did it go? 1051 00:52:13,280 --> 00:52:15,000 - Great. - It was a lot of fun. 1052 00:52:15,160 --> 00:52:17,160 We got a five-Shark deal. So, we're really excited. 1053 00:52:17,240 --> 00:52:18,480 - Like a dream. - Yes. 1054 00:52:18,560 --> 00:52:21,280 - Did you imagine it'd be so great? - Yes, we did. 1055 00:52:21,360 --> 00:52:23,040 - Five-Shark... Really? - Yes. 1056 00:52:27,840 --> 00:52:29,200 It's a big thing also. 1057 00:52:29,320 --> 00:52:30,720 Kids spend so much time on the screen. 1058 00:52:30,760 --> 00:52:33,760 I fear my kid might address the phone as "Dad"! 1059 00:52:33,840 --> 00:52:36,680 - Kids nowadays are glued to phones. - Yes. 1060 00:52:36,800 --> 00:52:39,320 We are... Take care. We will take care of it. 1061 00:52:39,400 --> 00:52:41,320 One hundred percent. Of the kid also? 1062 00:52:41,440 --> 00:52:43,240 - Yes. Of the kid and... - [laughter] 1063 00:52:43,320 --> 00:52:45,080 He don't... He will call you dad. 1064 00:52:45,200 --> 00:52:47,320 Yes, okay. Make sure he does. 1065 00:52:47,400 --> 00:52:48,400 Wouldn't it look strange 1066 00:52:48,480 --> 00:52:50,320 if we scolded them and they did this? 1067 00:52:50,400 --> 00:52:51,880 [laughter] 1068 00:52:52,880 --> 00:52:54,640 I was a teacher before this 1069 00:52:54,720 --> 00:52:55,960 and I know how difficult it is 1070 00:52:56,040 --> 00:52:58,160 to keep kids engaged without a screen. 1071 00:52:58,240 --> 00:53:00,800 - You're doing a great job by keeping them entertained. - Thanks. 1072 00:53:00,880 --> 00:53:03,640 I'm sure you have your sources of entertainment too. 1073 00:53:03,720 --> 00:53:06,400 - So, I got you a gaming console from Swiggy Instamart. - Great. 1074 00:53:06,480 --> 00:53:08,600 - It arrived in 10 minutes. - Wow, great. 1075 00:53:09,080 --> 00:53:10,280 Thank you so much, friend. 1076 00:53:10,400 --> 00:53:12,200 - Here. - Thank you. 1077 00:53:12,560 --> 00:53:13,600 Do you play games? 1078 00:53:13,720 --> 00:53:16,080 - Yes. - Yes, but we prefer board games. 1079 00:53:16,200 --> 00:53:17,800 You're off-screen guys! 1080 00:53:18,000 --> 00:53:19,720 I'll order Catan for you. 1081 00:53:19,880 --> 00:53:20,680 Very nice game. 1082 00:53:20,760 --> 00:53:22,440 Available on Swiggy Instamart, delivery in 10 minutes. 1083 00:53:22,480 --> 00:53:23,960 - Great. - Definitely. 1084 00:53:24,040 --> 00:53:27,120 Friends, don't be bored in life. Do something interesting. 1085 00:53:27,200 --> 00:53:28,400 Play games if you want. 1086 00:53:28,520 --> 00:53:30,760 Log on to Swiggy Instamart and order whatever you want. 1087 00:53:30,840 --> 00:53:32,200 You get everything. Order now. 1088 00:53:32,360 --> 00:53:35,400 I know you very well. 1089 00:53:36,080 --> 00:53:38,040 You want to give real time feedback during cricket. 1090 00:53:38,040 --> 00:53:40,360 "This shot should have been played like that." 1091 00:53:40,480 --> 00:53:42,240 "He should have taken that shot." 1092 00:53:52,120 --> 00:53:54,160 Predict who gets the funding 1093 00:53:54,280 --> 00:53:57,200 and win prizes like iPhones, iPads and many more. 1094 00:53:57,280 --> 00:53:59,720 Go on the Lenskart app or Lenskart.com right now. 1095 00:54:00,080 --> 00:54:01,920 [theme music playing] 1096 00:54:24,200 --> 00:54:26,240 [theme music concludes] 1097 00:54:27,760 --> 00:54:28,680 Leading with food! 1098 00:54:28,760 --> 00:54:30,120 - Yes. - Best strategy. 1099 00:54:30,360 --> 00:54:31,520 It's part of the pitch. 1100 00:54:31,880 --> 00:54:33,560 - They're fruit bars. - Thank you. 1101 00:54:35,480 --> 00:54:36,480 Thank you. 1102 00:54:40,920 --> 00:54:42,080 - Here, sir. - Thank you, bro. 1103 00:54:42,440 --> 00:54:43,440 Thank you. 1104 00:54:44,280 --> 00:54:46,560 'One fruit bar. Daily fruit fix.' 1105 00:54:46,640 --> 00:54:48,120 Oh, this is like 'aam papad'. 1106 00:54:48,320 --> 00:54:49,880 - Oh, I like 'aam papad'. - I love 'aam papad'. 1107 00:54:49,920 --> 00:54:51,160 I love 'aam papad'. 1108 00:54:51,280 --> 00:54:52,560 This has a lot of sugar. 1109 00:54:53,440 --> 00:54:54,880 Hmm, yum! 1110 00:54:55,560 --> 00:54:57,800 - Sharks, what do you think of our bar? - It's good. 1111 00:54:58,200 --> 00:54:59,600 - Is it tasty? - They're nice. 1112 00:54:59,720 --> 00:55:00,920 Can you believe 1113 00:55:11,480 --> 00:55:14,400 without any added sugar and preservatives. 1114 00:55:18,400 --> 00:55:21,520 but none of these fruits ever make it to your plates. 1115 00:55:21,600 --> 00:55:23,680 The farmer discards them at the orchard itself. 1116 00:55:23,880 --> 00:55:25,760 Why? Because they will get spoiled in transit. 1117 00:55:33,040 --> 00:55:34,160 Just like this, every year, 1118 00:55:34,240 --> 00:55:36,880 farmers discard 15% of their produce 1119 00:55:37,320 --> 00:55:41,040 resulting in annual losses of Rs. 90,000 crores. 1120 00:55:49,440 --> 00:55:51,120 Inspired by nature, 1121 00:55:51,320 --> 00:55:53,040 what if we were to connect 1122 00:55:53,120 --> 00:55:55,040 this Rs. 90,000-crore problem of wastage 1123 00:55:55,200 --> 00:55:57,160 to the Rs. 2,00,000-crore food market? 1124 00:55:57,320 --> 00:55:58,400 With this thought in mind, 1125 00:55:58,520 --> 00:56:01,080 we built Raheja Solar Food Processing. 1126 00:56:02,240 --> 00:56:03,680 My name is Babita Raheja. 1127 00:56:07,360 --> 00:56:10,200 My mother and I started this company from our rooftop 1128 00:56:10,440 --> 00:56:12,320 and built the world's most affordable 1129 00:56:12,400 --> 00:56:13,920 and portable solar dehydrator. 1130 00:56:19,440 --> 00:56:21,520 nutrients as well as its aroma 1131 00:56:21,680 --> 00:56:24,360 for up to a year without any added sugar or preservatives. 1132 00:56:32,920 --> 00:56:35,360 to provide on-ground training to farmers along with the dryer 1133 00:56:47,800 --> 00:56:50,400 instant noodles and instant tea industries 1134 00:56:50,600 --> 00:56:52,480 with a market of Rs. 2,00,000 crores. 1135 00:56:52,640 --> 00:56:55,360 In association with over 1,000 micro-entrepreneurs, 1136 00:56:55,440 --> 00:56:58,240 we've supported over 65,000 farmers throughout the country. 1137 00:57:18,480 --> 00:57:20,040 Varun! Babita! 1138 00:57:31,720 --> 00:57:32,720 Sure. 1139 00:57:32,800 --> 00:57:34,240 [joyous music playing] 1140 00:57:38,960 --> 00:57:39,960 Here are the ingredients. 1141 00:57:41,800 --> 00:57:44,240 These three are the ingredients and the other two are flowers. 1142 00:57:44,320 --> 00:57:45,320 You could smell them. 1143 00:57:48,200 --> 00:57:50,720 What you're tasting is a pineapple from Manipur. 1144 00:57:50,800 --> 00:57:51,640 Delectable. 1145 00:57:51,720 --> 00:57:53,040 It is free of sugar and preservatives. 1146 00:57:53,080 --> 00:57:55,600 It's a naturally plant-ripened pineapple. 1147 00:57:55,680 --> 00:57:57,000 It does have natural sugar. 1148 00:57:57,080 --> 00:57:58,200 - Fructose. - Yes. 1149 00:57:58,480 --> 00:57:59,480 Nice. 1150 00:57:59,640 --> 00:58:01,080 The second one is mango. 1151 00:58:01,160 --> 00:58:04,520 This is the mango grown by the farmers in Andhra Pradesh. 1152 00:58:04,880 --> 00:58:05,880 It's fine on the inside, 1153 00:58:05,960 --> 00:58:08,240 but owing to spots, farmers can't take them to the market. 1154 00:58:08,360 --> 00:58:09,360 This is good too. 1155 00:58:09,400 --> 00:58:10,440 The third is grapes. 1156 00:58:10,520 --> 00:58:12,640 These are grapes that have fallen to the ground. 1157 00:58:12,960 --> 00:58:15,240 We've dried them with the help of a solar dryer 1158 00:58:15,320 --> 00:58:16,480 that runs on solar energy. 1159 00:58:16,680 --> 00:58:18,760 You don't need to use any additional chemicals 1160 00:58:18,840 --> 00:58:20,480 as the drying is controlled. 1161 00:58:21,640 --> 00:58:23,120 What did you study? 1162 00:58:23,200 --> 00:58:24,760 Professionally, I'm a mechanical engineer 1163 00:58:24,800 --> 00:58:25,800 from Indore. 1164 00:58:26,040 --> 00:58:29,160 During college, I did research on farmer suicides. 1165 00:58:29,240 --> 00:58:31,680 And in the fourth year, we started Raheja Solar Food Processing. 1166 00:58:31,680 --> 00:58:33,400 - So, you haven't worked anywhere. - No. 1167 00:58:33,520 --> 00:58:34,600 - You started with this. - Yes. 1168 00:58:34,640 --> 00:58:37,800 - I... Yes. - Why did you do research on farmer suicides? 1169 00:58:38,400 --> 00:58:39,560 When I was studying engineering, 1170 00:58:39,560 --> 00:58:42,920 the fathers of 50% of my classmates were farmers. 1171 00:58:43,040 --> 00:58:46,600 No father wanted their child or son... 1172 00:58:46,760 --> 00:58:48,240 - To become a farmer. - To do farming. 1173 00:58:48,920 --> 00:58:50,760 Then I researched the problems. 1174 00:58:50,880 --> 00:58:52,840 That's when I learned that 1175 00:58:52,920 --> 00:58:55,000 the main reason for farmer suicides was food wastage. 1176 00:58:55,080 --> 00:58:57,320 When prices fell due to market fluctuations, 1177 00:58:57,400 --> 00:58:58,920 farmers had to throw away the produce. 1178 00:58:59,520 --> 00:59:02,320 When I quantified it, it was a wastage of Rs. 90,000 crores. 1179 00:59:02,680 --> 00:59:03,960 What did your father do? 1180 00:59:04,480 --> 00:59:06,640 He's a shopkeeper and has a business in Indore. 1181 00:59:06,720 --> 00:59:08,120 - All right. - Okay. 1182 00:59:08,240 --> 00:59:09,680 What's your background, ma'am? 1183 00:59:09,880 --> 00:59:12,240 - I was a housewife. - Okay. 1184 00:59:12,320 --> 00:59:15,520 It was his passion to do some good for others. 1185 00:59:15,600 --> 00:59:17,520 If your intentions are good, 1186 00:59:17,640 --> 00:59:19,560 we all know that doors will open to you. 1187 00:59:20,320 --> 00:59:22,840 Mom and I researched this for two years. 1188 00:59:23,040 --> 00:59:25,040 - And... - Then came the phase to dry the products. 1189 00:59:25,120 --> 00:59:28,240 We experimented with drying the products in the dryer. 1190 00:59:28,400 --> 00:59:29,760 We learned when the product gets spoiled 1191 00:59:29,760 --> 00:59:32,080 and when to take it out for an increased shelf life. 1192 00:59:32,160 --> 00:59:34,600 If we take it out sooner, the product gets spoiled. 1193 00:59:34,840 --> 00:59:38,400 We tried all the products from flowers and fruits to vegetables. 1194 00:59:38,760 --> 00:59:40,960 - Hmm. - In the end, the conclusion was 1195 00:59:41,040 --> 00:59:43,440 that the dryer does an amazing job of drying the products. 1196 00:59:43,520 --> 00:59:44,960 I'd never seen anything like it. 1197 00:59:45,120 --> 00:59:47,880 I've never been abroad or seen something like this. 1198 00:59:48,120 --> 00:59:50,760 When I worked with this and the products turned out great, 1199 00:59:50,880 --> 00:59:53,280 we began educating the farmers. 1200 00:59:53,440 --> 00:59:55,000 We had given machines to the farmers 1201 00:59:55,080 --> 00:59:57,280 but they had no idea how to use it. 1202 00:59:58,000 --> 00:59:59,520 Are you both the company directors? 1203 00:59:59,600 --> 01:00:00,400 Yes, that's right. 1204 01:00:00,520 --> 01:00:02,480 Is anyone else involved in the business with you? 1205 01:00:02,680 --> 01:00:03,680 No. 1206 01:00:04,520 --> 01:00:07,400 Varun, can you tell us what your business is exactly? 1207 01:00:07,480 --> 01:00:09,360 Do you sell this device, 1208 01:00:09,440 --> 01:00:12,480 the dried products or both? 1209 01:00:12,640 --> 01:00:15,880 - Is your revenue from the dryer... - 90% comes from the dryer. 1210 01:00:15,960 --> 01:00:18,240 10% of the revenue comes from dried products. 1211 01:00:19,040 --> 01:00:21,240 That's because when the farmer dries the product, 1212 01:00:21,320 --> 01:00:23,040 we have to sometimes buy it upfront 1213 01:00:23,120 --> 01:00:24,840 as you can't create a category of a new product directly. 1214 01:00:24,880 --> 01:00:27,160 - So, it's a dryer business. - Yes, majorly. 1215 01:00:27,360 --> 01:00:29,200 What's this mini dryer? 1216 01:00:29,360 --> 01:00:31,120 Sir, this is a miniature version of the machine 1217 01:00:31,160 --> 01:00:33,240 which is 100x smaller. 1218 01:00:33,480 --> 01:00:35,440 - Okay! - The machine is 100x bigger and weighs 1,000 kg. 1219 01:00:35,440 --> 01:00:36,680 So, this is not the machine. 1220 01:00:36,760 --> 01:00:38,880 - Is there a video you can show us? - Yes. 1221 01:00:39,600 --> 01:00:41,760 - [birds chirping] - [wind whooshing] 1222 01:00:44,840 --> 01:00:47,320 'So, the harvest yields 250 sacks of carrots' 1223 01:00:47,480 --> 01:00:50,440 'out of which 40 to 50 sacks are rejects.' 1224 01:00:50,520 --> 01:00:52,280 The traders buy the good produce 1225 01:00:52,800 --> 01:00:53,960 and leave behind the rejects. 1226 01:00:54,440 --> 01:00:56,240 'We do farming and agriculture, sir.' 1227 01:00:56,480 --> 01:00:58,200 A few quintals of produce turns out bad. 1228 01:00:58,320 --> 01:01:00,760 '5% falls to the ground.' 1229 01:01:01,040 --> 01:01:03,000 That's wastage and no good. 1230 01:01:03,640 --> 01:01:06,200 'Customers, vegetable sellers and grocers pick the good produce.' 1231 01:01:06,240 --> 01:01:08,520 The rest has to be discarded. 1232 01:01:11,240 --> 01:01:13,640 In our country, about 10 to 15% produce 1233 01:01:13,840 --> 01:01:17,600 of fruits and vegetables is discarded on farms. 1234 01:01:18,160 --> 01:01:19,000 You won't believe it, 1235 01:01:19,080 --> 01:01:21,360 but this is a Rs. 90,000-crore problem in our country. 1236 01:01:25,240 --> 01:01:27,840 'Our company supports small farmers' 1237 01:01:27,920 --> 01:01:30,760 'with excess produce who're unable to find buyers.' 1238 01:01:37,760 --> 01:01:40,320 'that converts it into a new form as a dried product' 1239 01:01:40,400 --> 01:01:41,840 'instead of having to throw it away.' 1240 01:01:41,880 --> 01:01:43,160 [inspirational music playing] 1241 01:01:45,080 --> 01:01:48,960 'Solar dryers work on a technique called the greenhouse effect' 1242 01:01:49,080 --> 01:01:51,960 'that traps two things when the sun comes out,' 1243 01:01:55,280 --> 01:01:59,840 'The magic of the solar dryer lies in how it traps and controls heat.' 1244 01:02:03,440 --> 01:02:04,920 'After the solar dryer is set up,' 1245 01:02:05,000 --> 01:02:08,120 the farmer brings the excess products from his farm. 1246 01:02:23,800 --> 01:02:26,080 Along with the installation of our solar dryer, 1247 01:02:26,160 --> 01:02:28,360 our mobile app is also installed for the farmer. 1248 01:02:51,000 --> 01:02:53,640 'Add hot water and your soup or gravy is ready.' 1249 01:02:53,760 --> 01:02:56,040 'These products fall in the snack industry.' 1250 01:02:56,160 --> 01:02:59,240 We wondered if we could convert that wastage worth Rs. 90,000 1251 01:02:59,320 --> 01:03:02,160 into products having a market of Rs. 2,00,000 crores. 1252 01:03:02,360 --> 01:03:03,760 That served as an inspiration 1253 01:03:03,840 --> 01:03:06,800 to solve this problem and become a medium. 1254 01:03:11,120 --> 01:03:13,320 Average life... How long does it take to dry them? 1255 01:03:13,440 --> 01:03:15,040 About 2 to 2.5 days. 1256 01:03:15,160 --> 01:03:17,200 Once dried, 1257 01:03:17,360 --> 01:03:19,480 - what's the shelf life of the fruit? - One year. 1258 01:03:25,080 --> 01:03:27,520 And how much minerals and vitamins does it retain? 1259 01:03:27,640 --> 01:03:31,240 - Suppose I'm eating a pineapple and compare it to this. - Right. 1260 01:03:31,320 --> 01:03:33,920 What percentage of nutrition would this retain? 1261 01:03:34,760 --> 01:03:37,280 At 60 degrees, the loss is 20 to 30% 1262 01:03:37,400 --> 01:03:38,760 because you took it to a certain temperature. 1263 01:03:38,760 --> 01:03:40,880 - And when... - When you cook it and make a pulp, 1264 01:03:41,000 --> 01:03:42,440 you're taking it to 100 to 150 degrees. 1265 01:03:42,480 --> 01:03:44,920 - That reduces minimum 50% nutrition. - Okay. 1266 01:03:45,040 --> 01:03:46,880 - So, apart from 20 to 30%... - Yes. 1267 01:03:46,960 --> 01:03:48,280 - The rest 70% is retained. - Yes. 1268 01:03:53,720 --> 01:03:54,880 Mint leaves. 1269 01:03:55,080 --> 01:03:56,880 - Mint leaves... - Not mint, they're curry leaves. 1270 01:03:56,920 --> 01:03:59,120 - And bitter gourd. - Bitter gourd, right. 1271 01:03:59,280 --> 01:04:01,280 Okra too. Can this be eaten as it is? 1272 01:04:01,360 --> 01:04:04,160 So, curry leaves... You get instant 'sambar' powder. 1273 01:04:04,240 --> 01:04:05,960 - You could... - What do you use this for? 1274 01:04:07,040 --> 01:04:09,800 Sir, vegetables are not eaten like that, they are used. 1275 01:04:09,920 --> 01:04:11,520 In spices and other things. 1276 01:04:11,600 --> 01:04:13,120 Where will you use dried onion? 1277 01:04:13,880 --> 01:04:16,280 Instant biryani or anywhere. 1278 01:04:16,360 --> 01:04:19,280 Basically, you can use it in everything. 1279 01:04:19,400 --> 01:04:24,120 If you don't have onions, just make its gravy. 1280 01:04:24,200 --> 01:04:26,760 Or dip it in water and make a puree. 1281 01:04:26,840 --> 01:04:29,320 - You can also add it directly to vegetables. - Got it. 1282 01:04:29,520 --> 01:04:31,280 How much investment is required for this? 1283 01:04:31,720 --> 01:04:35,160 The small system starts at 25000 and goes up to 3 to 3.5 lakh. 1284 01:04:35,240 --> 01:04:37,880 So this model is mainly used by micro-entrepreneurs. 1285 01:04:37,960 --> 01:04:40,800 Like a flour mill, one person sets it up and everyone around uses it. 1286 01:04:41,600 --> 01:04:44,520 Farmers form a group and set up the system together. 1287 01:04:44,600 --> 01:04:46,800 One farmer uses it, another farmer also uses it. 1288 01:04:46,880 --> 01:04:49,360 So you create micro-entrepreneurs for this? 1289 01:04:49,480 --> 01:04:52,320 We approach micro-entrepreneurs through on-ground partners. 1290 01:04:52,440 --> 01:04:54,400 Like our on-ground partners are Tata Trust, 1291 01:04:54,480 --> 01:04:56,320 Reliance Foundation and HDFC Foundation. 1292 01:04:56,400 --> 01:04:59,480 These foundations have boosted farmers' productivity for 50 years. 1293 01:04:59,560 --> 01:05:01,840 Their challenge is failing to scale the market. 1294 01:05:02,520 --> 01:05:05,280 - How big is the market? - Two lakh crore market. 1295 01:05:05,920 --> 01:05:08,960 - Two lakh crore? - Two lakh crore exactly for what? 1296 01:05:12,080 --> 01:05:14,720 - How much is in India? - Almost four billion in India. 1297 01:05:20,440 --> 01:05:22,600 What is your sales model? How do you sell this to farmers? 1298 01:05:22,600 --> 01:05:25,440 - Does your sales team visit them? - We have sales team on the ground. 1299 01:05:25,520 --> 01:05:28,440 We have partnerships, so we mostly get repeat orders. 1300 01:05:28,560 --> 01:05:31,360 We did two trials with Tata Trust four years ago. 1301 01:05:31,440 --> 01:05:32,840 Three years ago, they installed 10. 1302 01:05:32,960 --> 01:05:35,000 This year, they set up a project worth two crores. 1303 01:05:35,080 --> 01:05:38,000 They see that this is a successful project, and there is market demand. 1304 01:05:38,080 --> 01:05:41,720 Is this a single project or support for multiple farmers with two crores? 1305 01:05:41,840 --> 01:05:44,040 No, multiple farmers. There are also multiple locations. 1306 01:05:44,840 --> 01:05:48,120 What revenue are you generating? How many farmers have you reached? 1307 01:05:48,240 --> 01:05:50,240 How many machines have you installed? Tell us everything. 1308 01:05:50,240 --> 01:05:53,000 Sir, so far, we have connected with almost 65,000 farmers. 1309 01:05:53,400 --> 01:05:55,760 We have installed more than 7,000 machines. 1310 01:06:01,520 --> 01:06:02,880 You input 20 kg, 1311 01:06:03,000 --> 01:06:05,360 and after drying, you get two kg output. It is a 10:1 ratio. 1312 01:06:05,400 --> 01:06:08,400 - What is the rate for 20 kg? - 25000 rupees. 1313 01:06:09,360 --> 01:06:10,400 So how much would that be? 1314 01:06:10,440 --> 01:06:11,760 Twenty-five multiplied by 7000. 1315 01:06:11,840 --> 01:06:12,840 Eighteen crores. 1316 01:06:12,920 --> 01:06:15,040 - So you have done 18 crore in sales? - Yes. 1317 01:06:15,120 --> 01:06:17,000 - In the past five years? Okay. - Yes. 1318 01:06:17,120 --> 01:06:18,320 Shall we move to annual now? 1319 01:06:18,400 --> 01:06:19,280 - Sure. - Okay. 1320 01:06:19,360 --> 01:06:21,760 Last year, 2023-24, we did seven crores. 1321 01:06:21,840 --> 01:06:23,160 - Okay. - Wow! 1322 01:06:23,240 --> 01:06:27,200 The year before, 2022-23, we did 3.6 crores. 1323 01:06:27,280 --> 01:06:30,080 In 2021-22, we did 1.8 crores. 1324 01:06:30,160 --> 01:06:33,320 And in 2020-21, we did almost 50 lakhs. 1325 01:06:33,400 --> 01:06:34,280 And this year? 1326 01:06:34,400 --> 01:06:36,400 So far, we have done six crores. 1327 01:06:36,480 --> 01:06:37,400 How much will you do? 1328 01:06:37,480 --> 01:06:39,080 We will do 14 crores this year. 1329 01:06:41,040 --> 01:06:42,640 Sir, we are 10 per cent profitable. 1330 01:06:43,040 --> 01:06:46,040 Out of 15 crore revenue this year, how much will come from produce? 1331 01:06:46,120 --> 01:06:47,120 Three crores. 1332 01:06:47,400 --> 01:06:48,680 Do you have bad debts? 1333 01:06:48,840 --> 01:06:50,440 - Sorry? - Bad debts, 1334 01:06:50,520 --> 01:06:51,880 meaning unpaid dues. 1335 01:06:52,000 --> 01:06:53,720 For example, in last year's 1336 01:06:53,960 --> 01:06:56,840 seven crore sales, how much was unpaid? 1337 01:06:56,920 --> 01:06:58,800 Almost 20 to 30 lakhs. 1338 01:07:00,080 --> 01:07:02,440 Some government projects take time to clear payments. 1339 01:07:02,640 --> 01:07:04,120 Sometimes, it takes two to three years. 1340 01:07:04,160 --> 01:07:06,320 Is a large part of your sales from government projects? 1341 01:07:06,320 --> 01:07:08,480 Initially, it was a lot, but we are moving out of government projects. 1342 01:07:08,480 --> 01:07:11,120 Do these foundations like Tata Trust and Reliance Foundation 1343 01:07:11,200 --> 01:07:12,200 also buy from you? 1344 01:07:12,320 --> 01:07:15,680 They only subsidise it for farmers. 1345 01:07:15,760 --> 01:07:16,880 How much do they subsidise? 1346 01:07:16,960 --> 01:07:18,800 Initially, it was up to 80 per cent. 1347 01:07:18,920 --> 01:07:21,000 Recently, it has come down to 10 to 20 per cent. 1348 01:07:21,560 --> 01:07:24,800 What is the margin on the dryers you sell, 1349 01:07:24,880 --> 01:07:27,440 and how much margin will you make on the three crore 1350 01:07:27,560 --> 01:07:30,560 B2B dried finished products 1351 01:07:30,640 --> 01:07:31,920 sales this year? 1352 01:07:32,000 --> 01:07:35,200 Our gross margin on dryers is around 45 per cent. 1353 01:07:47,520 --> 01:07:50,840 who have set up the system. 1354 01:07:50,920 --> 01:07:53,040 With an average range of 1.5 to two lakh, 1355 01:07:53,160 --> 01:07:56,360 it's around 25,000 rupees. I am talking about profit. 1356 01:08:01,400 --> 01:08:04,560 If they have a 200 kg dryer, they get 200 kg output per month. 1357 01:08:04,720 --> 01:08:06,520 What is the value of 200 kg output? 1358 01:08:14,480 --> 01:08:16,160 Up to 40 per cent goes to the farmers. 1359 01:08:16,520 --> 01:08:18,920 So he retains 25000, and the remaining 35 per cent... 1360 01:08:19,000 --> 01:08:20,520 Yes. 40 per cent. In some cases, 1361 01:08:20,600 --> 01:08:22,840 - sometimes even 70 to 80 per cent. - Okay. 1362 01:08:22,920 --> 01:08:24,960 - And this is his average income? - Yes, it's average income. 1363 01:08:24,960 --> 01:08:28,200 And the setup cost for this is two lakh? 1364 01:08:28,280 --> 01:08:29,160 Yes, 2,00,000 rupees. 1365 01:08:29,240 --> 01:08:31,720 So he recovers it within a year? 1366 01:08:31,840 --> 01:08:34,600 One to one and a quarter years, because seasonality plays a role. 1367 01:08:34,680 --> 01:08:35,760 Not bad! 1368 01:08:35,840 --> 01:08:38,840 What is seasonality? What happens during monsoon? 1369 01:08:38,920 --> 01:08:42,080 It doesn't work in monsoon as there is no sunlight. It's a solar system. 1370 01:08:42,200 --> 01:08:44,520 Backup systems are available, but we don't usually suggest them. 1371 01:08:44,520 --> 01:08:45,880 And in winter? 1372 01:08:45,960 --> 01:08:47,920 It works perfectly well in winter, no issues. 1373 01:08:48,040 --> 01:08:49,040 Okay. 1374 01:08:49,360 --> 01:08:50,800 Sir, shall I explain the funding? 1375 01:08:50,880 --> 01:08:52,520 - I mean the funding situation? - Yes, go ahead. 1376 01:08:52,560 --> 01:08:56,600 Earlier this year, we raised four crores from four impact investors. 1377 01:08:57,120 --> 01:08:59,080 It's a convertible note round, 1378 01:08:59,200 --> 01:09:02,920 with a floor of 40 crores and a cap of 50 crores. 1379 01:09:03,120 --> 01:09:07,120 You said you have a 50 per cent market share for solar dryers. 1380 01:09:07,200 --> 01:09:09,760 That means the total solar dryer market 1381 01:09:10,560 --> 01:09:14,120 is 25 to 30 crores annually if you do 14 crores this year. 1382 01:09:14,240 --> 01:09:16,040 But you also mentioned that 1383 01:09:16,320 --> 01:09:19,880 the dried produce market in India is three to four billion dollars, 1384 01:09:19,960 --> 01:09:21,560 - around 30,000 crores. - Correct. 1385 01:09:21,640 --> 01:09:25,040 So out of this 30,000 crore market, 1386 01:09:25,120 --> 01:09:27,880 how much share does this 1387 01:09:27,960 --> 01:09:29,800 thirty crore infrastructure hold? 1388 01:09:29,920 --> 01:09:33,760 You can estimate it at around 60 to 70 crores. 1389 01:09:33,880 --> 01:09:36,640 Two hundred crores. Based on your calculations, 1390 01:09:36,760 --> 01:09:39,320 if the farmer's share is 60 crores, the total comes to 200 crores. 1391 01:09:39,360 --> 01:09:40,960 Let's agree with her. She studied at IIT. 1392 01:09:41,000 --> 01:09:43,480 Okay, 200 crores. And it makes sense. 1393 01:09:43,560 --> 01:09:46,040 If there are dryers worth 30 to 35 crores, 1394 01:09:46,120 --> 01:09:47,560 and 200 crores worth of produce is generated, 1395 01:09:47,560 --> 01:09:48,360 then it makes sense 1396 01:09:48,440 --> 01:09:50,840 that 10 to 20 per cent would be spent on infrastructure. 1397 01:09:50,920 --> 01:09:51,600 I understand. 1398 01:09:51,760 --> 01:09:53,520 If we remove 200 crores from the 30000 crores 1399 01:09:53,560 --> 01:09:56,360 dried produce market, how is the remaining 29800 crores 1400 01:09:56,640 --> 01:09:59,200 of dried produce being processed? 1401 01:09:59,280 --> 01:10:01,960 It is currently dried using sun drying and electric drying. 1402 01:10:19,080 --> 01:10:21,640 Then electricity is used for drying, 1403 01:10:21,760 --> 01:10:23,200 which increases the cost. 1404 01:10:23,320 --> 01:10:27,000 How will you increase your market share 1405 01:10:27,080 --> 01:10:29,720 from almost nothing to 10, 15, or 20 per cent? 1406 01:10:29,800 --> 01:10:31,600 How will you turn this into a big company? 1407 01:10:31,680 --> 01:10:34,200 Sir, we want to create a demand-driven company. 1408 01:10:34,280 --> 01:10:36,040 We are entering the market, attending exhibitions, 1409 01:10:36,080 --> 01:10:38,040 and expanding exports by onboarding distributors to increase demand... 1410 01:10:38,080 --> 01:10:41,760 At this rate, it will take you 20 more years to reach a certain scale. 1411 01:10:41,840 --> 01:10:45,400 No, because a market already exists for many of these products. 1412 01:10:47,440 --> 01:10:49,800 Look, guys, I really like your intent. 1413 01:10:49,880 --> 01:10:52,280 Your purpose and passion are great. Amazing. 1414 01:10:52,400 --> 01:10:56,680 The enthusiasm with which you talk about this is very infectious. 1415 01:10:56,760 --> 01:11:00,080 But I feel this business is not a business yet. 1416 01:11:06,800 --> 01:11:09,480 You have to think of it as ecosystem development. 1417 01:11:09,560 --> 01:11:11,400 That will require a shift in thinking. 1418 01:11:11,480 --> 01:11:15,040 You need to project what this market will look like 1419 01:11:15,440 --> 01:11:18,320 in 10 years. Will the 30000 crores become 60000 crores? 1420 01:11:18,440 --> 01:11:22,120 How can 10000 crores worth of produce pass through your system? 1421 01:11:22,200 --> 01:11:24,320 Then, work backwards to make that happen. 1422 01:11:24,400 --> 01:11:26,920 For that, you'll need capital, co-founders, 1423 01:11:27,000 --> 01:11:29,160 - and a lot of strategic thinking. Right? - Right. 1424 01:11:29,240 --> 01:11:30,480 It won't work otherwise. 1425 01:11:30,600 --> 01:11:33,640 That's why I'm out. I don't think I can help you with this. Good luck. 1426 01:11:33,760 --> 01:11:34,960 Thank you so much, Anupam. 1427 01:11:35,400 --> 01:11:39,760 Varun, right now, I feel this is a dealer-distributor-led business. 1428 01:11:40,960 --> 01:11:44,040 You want to turn it into a market-driven service business, 1429 01:11:44,120 --> 01:11:46,240 but unfortunately, it hasn't reached that stage yet. 1430 01:11:52,640 --> 01:11:53,640 Fine! 1431 01:11:53,800 --> 01:11:57,520 Varun and Babita, I feel that in this journey, 1432 01:11:57,680 --> 01:11:59,200 your initial product 1433 01:12:04,760 --> 01:12:06,640 Otherwise, you wouldn't have reached this stage. 1434 01:12:06,800 --> 01:12:08,800 - So, I'll make you an offer. - Well done! 1435 01:12:10,240 --> 01:12:11,960 Fifty lakhs for two per cent, 1436 01:12:16,160 --> 01:12:17,440 That's very fair! 1437 01:12:17,720 --> 01:12:19,080 Vineeta, thank you for your offer. 1438 01:12:20,000 --> 01:12:21,760 Firstly, I am very impressed with you, Varun. 1439 01:12:21,800 --> 01:12:25,400 I think your attention to detail is outstanding. 1440 01:12:25,480 --> 01:12:29,240 And it's evident that after trying multiple things, you have found 1441 01:12:33,600 --> 01:12:36,360 - Right. - So, I also want to make you an offer. 1442 01:12:37,480 --> 01:12:40,280 Fifty lakhs for two per cent is my offer to you. 1443 01:12:48,080 --> 01:12:52,400 Because you started from hardware, and it's your passion 1444 01:12:52,840 --> 01:12:56,000 so your main job is to go and sell hardware. 1445 01:12:56,280 --> 01:12:58,600 Then you'll think about the produce that's coming 1446 01:12:58,680 --> 01:13:01,520 and whether it can get a place in the market or not. 1447 01:13:01,600 --> 01:13:04,600 Compared to saying, 'We have the hardware too' 1448 01:13:04,680 --> 01:13:06,840 'but our main business is' 1449 01:13:06,920 --> 01:13:09,600 'to organize this 30,000 crores market.' 1450 01:13:10,080 --> 01:13:13,560 'Right now, we have too many stars in the business. 1451 01:13:13,920 --> 01:13:15,200 They are all good things. 1452 01:13:19,760 --> 01:13:24,920 But I think for the Indian farms, mechanization 1453 01:13:26,000 --> 01:13:29,640 and IoT leveraging is going in the same direction. 1454 01:13:29,720 --> 01:13:31,640 You're riding on the right wave. 1455 01:13:32,720 --> 01:13:35,720 I feel that this real business that you've made 1456 01:13:35,800 --> 01:13:39,160 will become a company with an IPO. 1457 01:13:39,960 --> 01:13:42,800 - I'd like to give you an offer. - Oh, wow. 1458 01:13:42,880 --> 01:13:45,480 I can't do the one or two per cent. 1459 01:13:45,600 --> 01:13:47,760 Because then there's no skin in the game. 1460 01:13:47,840 --> 01:13:49,600 - I'll give you two offers. - Okay. 1461 01:13:59,360 --> 01:14:00,960 You can go outside and discuss. 1462 01:14:01,040 --> 01:14:02,200 Okay, thank you so much. 1463 01:14:05,520 --> 01:14:07,520 [pensive music playing] 1464 01:14:08,360 --> 01:14:09,360 Vineeta... 1465 01:14:12,360 --> 01:14:14,760 [phone ringing] 1466 01:14:15,480 --> 01:14:17,840 - 'Hello.' - Hello. Hi, Mr Saif. 1467 01:14:17,960 --> 01:14:18,960 - 'Hi, Varun.' - Uh... 1468 01:14:19,080 --> 01:14:20,280 We have three offers. 1469 01:14:20,400 --> 01:14:23,240 What do you think, Anupam? What will happen? 1470 01:14:24,200 --> 01:14:26,440 - Whatever has been happening will happen. - Huh? 1471 01:14:26,520 --> 01:14:28,240 Optimize for equity. 1472 01:14:28,360 --> 01:14:33,200 'What we can do is, rather than 2% we can give 1%.' 1473 01:14:33,400 --> 01:14:36,040 I think the space is good, but there is too much work. 1474 01:14:36,120 --> 01:14:39,680 - Where is there no work? - The interesting part is only 10%. 1475 01:14:39,760 --> 01:14:41,960 - That will come. - It will get done. - Yes. 1476 01:14:42,200 --> 01:14:44,040 Wow. Come in. 1477 01:14:45,240 --> 01:14:47,040 - Welcome back. - Yes, Varun. 1478 01:14:47,160 --> 01:14:49,560 Thank you so much, all the Sharks, for the offers. 1479 01:14:49,640 --> 01:14:50,800 We have a counter offer. 1480 01:14:51,600 --> 01:14:55,560 Because we already raised funds at convertible note at 40. Floor. 1481 01:14:55,640 --> 01:14:59,600 We'd like to bring it at the same floor. At 40 crores valuation. 1482 01:14:59,840 --> 01:15:04,560 At 50 lakh rupees at 1.25% equity for Peyush and Vineeta. 1483 01:15:05,920 --> 01:15:07,720 Even for Kunal, 1484 01:15:07,840 --> 01:15:09,480 we might not go for 2.5 crores. 1485 01:15:09,560 --> 01:15:12,360 But we would look for 1.25 CR. 1486 01:15:12,680 --> 01:15:14,240 At the same valuation of 40 crores. 1487 01:15:14,320 --> 01:15:17,000 Would you do 50 lakhs for 2% equity? 1488 01:15:17,120 --> 01:15:19,120 Vineeta and I will come together. 1489 01:15:20,160 --> 01:15:21,280 My offer is also the same. 1490 01:15:21,360 --> 01:15:24,680 25 crores valuation with 5% equity for 1.25 crores. 1491 01:15:26,120 --> 01:15:28,120 - Okay, relax... - You have two options, let me tell you. 1492 01:15:28,120 --> 01:15:31,520 - One offer is that Vineeta and Peyush will come together. - Okay. 1493 01:15:31,600 --> 01:15:33,200 With 50 lakhs for 2% equity. 1494 01:15:33,560 --> 01:15:35,520 One offer is his. 1495 01:15:35,600 --> 01:15:38,840 That's 1.25 crores for 5%. 1496 01:15:38,920 --> 01:15:41,800 Now you have to decide what you want to do. 1497 01:15:42,120 --> 01:15:44,240 Is it possible for all three to come together? 1498 01:15:44,320 --> 01:15:45,640 That they can talk to each other. 1499 01:15:45,680 --> 01:15:47,440 He doesn't want anything less than 5% equity. 1500 01:16:01,280 --> 01:16:02,360 What do you have to say? 1501 01:16:07,120 --> 01:16:09,400 The concern is the valuation with the last investor will 1502 01:16:09,480 --> 01:16:11,120 come down, because it was done via convertible notes. 1503 01:16:11,160 --> 01:16:13,080 - In the next round... - That will not come down. 1504 01:16:13,520 --> 01:16:15,080 We'll figure that out separately, 1505 01:16:15,200 --> 01:16:16,640 how to structure our advisories. 1506 01:16:16,760 --> 01:16:20,840 So that your other investors don't feel compromised. 1507 01:16:23,920 --> 01:16:25,760 We are coming at a 40 CR valuation. 1508 01:16:25,840 --> 01:16:28,360 - But with advisory addition for all three. - Yes. 1509 01:16:28,480 --> 01:16:33,080 Your advisory is 0.375, 0.375 and... 1510 01:16:33,280 --> 01:16:36,160 - His will be more. 2%, I think. - 2%. 1511 01:16:37,800 --> 01:16:38,840 - Shall we? - Hmm. 1512 01:16:41,800 --> 01:16:43,680 - The deal is final. - Okay. - Awesome. - Great. 1513 01:16:49,800 --> 01:16:51,840 [triumphant music playing] 1514 01:17:01,080 --> 01:17:01,920 - 'Thank you so much. - Thank you.' 1515 01:17:02,080 --> 01:17:03,760 - Thank you, congratulations. - Thank you, Peyush. 1516 01:17:03,800 --> 01:17:05,240 Bye, ma'am. 1517 01:17:05,560 --> 01:17:09,080 'I did not imagine that even after answering the tough questions...' 1518 01:17:09,160 --> 01:17:11,760 'I thought I wasn't able to convince them completely.' 1519 01:17:11,840 --> 01:17:13,560 'I did not think that I would get an offer.' 1520 01:17:13,600 --> 01:17:18,200 But in the end, to get an offer from three Sharks in unimaginable. 1521 01:17:18,480 --> 01:17:20,560 What I saw in Raheja Solar is, 1522 01:17:20,640 --> 01:17:23,360 for one, it's a rising tide. 1523 01:17:23,600 --> 01:17:25,400 Solar oriented businesses 1524 01:17:25,520 --> 01:17:28,480 is a rising business. Even the government is pushing it. 1525 01:17:28,560 --> 01:17:31,240 Secondly, the dried snacks, 1526 01:17:31,320 --> 01:17:34,680 are taking off in the global market. 1527 01:17:34,760 --> 01:17:37,800 Because they are the healthiest snacks. 1528 01:17:37,960 --> 01:17:39,400 There is nothing in this. It's just fruit. 1529 01:17:39,440 --> 01:17:42,200 If this level of production is possible in India 1530 01:17:42,320 --> 01:17:45,840 and this company can consolidate this production 1531 01:17:45,920 --> 01:17:49,560 and supply to Indian brands to the International brands, 1532 01:17:49,640 --> 01:17:51,680 high-quality dried snacks. 1533 01:17:51,760 --> 01:17:53,920 I think it's quite a good opportunity. 1534 01:17:54,000 --> 01:17:57,720 If this portion wasn't there in the business, then I wouldn't invest. 1535 01:18:06,320 --> 01:18:09,120 Welcome to ACKO Change Makers where we really welcome change. 1536 01:18:09,280 --> 01:18:12,840 We saw a similar portrayal on our Change Makers Wall. 1537 01:18:13,280 --> 01:18:16,080 Through agritech innovations, we are making 1538 01:18:16,160 --> 01:18:17,760 a digitally empowered sustainable future. 1539 01:18:18,000 --> 01:18:20,800 Our Change Makers, Varun and Mrs Babita are with us. 1540 01:18:26,000 --> 01:18:29,120 And through innovation, you're also encouraging sustainable approach. 1541 01:18:29,360 --> 01:18:32,520 My question is on behalf of our viewers at home. 1542 01:18:32,600 --> 01:18:35,560 What changes can they bring in their day-to-day life 1543 01:18:35,640 --> 01:18:37,360 with which they can reduce the food wastage. 1544 01:18:37,400 --> 01:18:40,080 Firstly, the choice has to come from our hearts. 1545 01:18:40,160 --> 01:18:41,560 As human beings, we are very greedy. 1546 01:18:41,560 --> 01:18:44,320 - We try too hard to buy something. - Hmm. 1547 01:18:44,440 --> 01:18:45,920 If we just buy what our requirement is 1548 01:18:46,000 --> 01:18:49,240 then that will be the biggest change we can bring as a person. 1549 01:18:49,360 --> 01:18:51,880 Hmm. You're bringing a great change. 1550 01:18:51,960 --> 01:18:54,200 Similar to how ACKO is changing the insurance 1551 01:18:54,280 --> 01:18:56,280 landscapes with its revolutionary offers. 1552 01:18:56,360 --> 01:18:59,320 Get rid of innumerable calls while buying car insurance. 1553 01:18:59,400 --> 01:19:02,400 Avoid confusion regarding the price and policy coverage. 1554 01:19:02,480 --> 01:19:04,040 Take a car insurance directly from ACKO. 1555 01:19:04,120 --> 01:19:07,360 It's easy, transparent and hassle-free. And the premium is also great. 1556 01:19:07,560 --> 01:19:10,880 We'd like to give you a gift from ACKO and Shark Tank for your change. 1557 01:19:11,680 --> 01:19:15,440 [music playing] 1558 01:19:16,440 --> 01:19:19,440 'Shark Tank India, co-presented by ACKO Insurance,' 1559 01:19:19,520 --> 01:19:21,560 'PokerBaazi and Swiggy Instamart.' 1560 01:19:21,640 --> 01:19:24,360 'Co-powered by Adani, and Jaquar Bath and Light.' 1561 01:19:24,440 --> 01:19:27,400 'And partners, Rayzon Solar, ICICI Direct,' 1562 01:19:27,480 --> 01:19:29,480 'Lenskart and Sofy.' 1563 01:19:33,560 --> 01:19:34,880 Welcome to Ask The Shark. 1564 01:19:41,320 --> 01:19:43,000 I'm fine. I'm earning a lot of money, I'm having fun. 1565 01:19:43,040 --> 01:19:46,080 - Today's question for you is from 22-year-old Akansha. - Hmm. 1566 01:19:46,160 --> 01:19:47,680 She's from Mithilanchal. 1567 01:20:06,200 --> 01:20:08,760 I mean, often when we ask people about repeat, 1568 01:20:08,840 --> 01:20:10,320 ...instead of telling us this, 1569 01:20:10,440 --> 01:20:13,320 they tell us about how many sales were due to 1570 01:20:13,400 --> 01:20:16,400 the repeat customers during a particular month. 1571 01:20:16,600 --> 01:20:19,480 But that is not useful to judge about the business. 1572 01:20:19,560 --> 01:20:21,880 Because suppose my business 1573 01:20:21,960 --> 01:20:24,120 is not getting any new customers 1574 01:20:24,240 --> 01:20:26,560 then your repeat will be 100%. 1575 01:20:59,560 --> 01:21:00,760 This was today's 'Ask The Shark.' 1576 01:21:00,800 --> 01:21:03,760 We'll meet in the next 'Ask The Shark' with a new question and a new shark.