[theme music playing]
Sharks, challenging age-old traditional thinking,
whether something is allowed or not,
whether resources are available or not,
doing what needs to be done is my habit.
I don't follow a playbook.
And I make my own rules.
Today, in 60 seconds, I'll tell you
why I am the right bet for you.
Once the timer is up, I'll leave the floor.
And the time starts now.
In a small city called Dhamtari,
where a woman's entire identity is often tied to marriage,
I established a manufacturing unit there.
People become engineer first,
but I became a CEO before becoming an engineer.
People focus on problems and I look for solutions.
That's why, in a category like food,
where youngsters aren't innovating
because it doesn't get the same respect or valuation as tech.
Traditional manufacturers just focus on
making what's already selling.
If your refrigerator is filling up with chemicals, then let it fill.
with good ingredients, good taste, and it's made of jaggery.
ingredients matter and choose better.
For this, my ask is Rs. 50 lakhs for 5% equity.
- Oh my God! - Impressive.
- Isha, breathless. - Amazing!
- Are you from Dhamtari? - Yes.
Sridhar Vembu built ZOHO from a village in Tamil Nadu.
Chandubhai Virani founded Balaji Wafers
from a small village near Rajkot.
Shashank from DeHaat is from Chapra, Bihar.
So many people are making big companies from small places.
So, I really hope you join this list.
- Sure. - For now, let's hear more about your small city
and what inspired you to become an entrepreneur.
Tell us where Dhamtari is located first.
Dhamtari is a small place in Chhattisgarh near Raipur.
I was born and raised there till third grade.
I was always good with my studies.
My parents believed I should have better opportunities,
so we moved to Raipur,
where I completed my 10th grade.
After that, I went to Kota for IIT preparations
and later to Patiala for college.
But all our resources were in Dhamtari.
I didn't wish to increase overhead costs.
So, I set up my unit in Dhamtari
and I operate my office from Raipur.
- Without a break! - And very rare.
We also have an investment in Raipur.
- I reach out to them. - That's good.
When I reached out to them,
they said we will meet.
That is great!
They help you, I help them, indirectly, I am helping you.
Oh my!
- You can directly help me too. - Okay!
Show us your product.
Sure, sir. You can taste them too.
Yes! I would like to compare it with Veeba's sauce
and see which one is better.
What was that line in Season 1?
Every industry...
Dominant force!
I am not a don.
You said it, but you didn't do it. However, you did say it.
I am telling you, Isha, I am there for you no matter what.
But you... Hold on, Isha. Let's clarify.
You are there for Isha, but do you agree
that you are the dominant force in this industry?
- No, I don't believe that. - What?
- I accept that I am a major player in this industry. - Okay.
As a leading player, it is my responsibility
to help other players.
- I think... - Sir, we will make Repeat Gud Veeba of healthy sauces.
- Wow! - Whoa!
- But I... - Don't they sell healthy sauces?
We sell healthy sauces too. Stop it now.
Healthier sauces.
But I'd like to tell you one thing.
I'll help you no matter what.
I will help! Hey!
- Any company that makes sauces... - I'll help!
I consider them a competition.
- What are you saying? Will you help or compete? - I'll help.
- Oh God! - Thank you! Are these your sauces?
These are all my sauces.
- Interesting. - Thank you!
[music playing]
Isha, Tandoori mayo is very good.
- Thank you, Namita! - Tandoori nights!
Hmm!
This Tandoori Mayo is killing it.
- Thank you! - There are no refined sugar,
Then why did you think you could price it so much higher than Veeba
and still attract customers? What's the logic behind this?
- Ma'am, Veeba is not my competitor. - Huh?
If you compare Veeba's ingredients with my sauces,
you might find one or two ingredients that are similar.
We primarily make our mayo with cashew milk.
but let's assume that your child liked the mayo.
They will start having it every day with flatbread
or bread.
In fact, I didn't think of building this company out of the blue
just to make a healthy mayo.
When I went to Kota, the food used to be spicy and oily.
What I used to do was stock sauces in my room.
Spread sauces on flatbreads and bread
and eat them.
- Quick and convenient. - I was addicted to doing that.
When I returned home, I had gained weight
- and I landed in the hospital. - Oh my God!
I had kidney stones and throat burns beyond imagination.
- At this age? - When I was 18, sir.
Oh my God! Is that why you started this?
Yes! When my mom told me
that this was happening because of lifestyle changes.
I thought of looking for better alternatives.
But I realised there was nothing in the market.
So, I started making them for myself.
During COVID, I got time to reflect and realised
that this wasn't just my problem or my family's,
it is a problem faced by every parent and every child.
So, I started this for children like us.
I read your list of ingredients.
Generally, people use minimal amounts
but still call it cashew-based mayonnaise.
ingredients that are good for you.
Thank you, sir. It means a lot.
Isha, how is the shelf life six months
Sir, that is our packaging and processing technology.
It has ingredients like...
Take pickles, for example.
What ingredients does it have that allows it
to be consumed within a month after opening if refrigerated?
It has natural vinegar...
- Jaggery and vinegar. - We add jaggery.
It has Himalayan pink salt, natural spices.
It has garlic,
and if done properly, it acts as a preservative.
Have you tested
if the shelf life is one month after opening?
Yes!
The standard ketchup that is sold,
what is the shelf life before opening?
- It's 12 to 24 months. - 12 to 24 months.
Meaning it should pass through trade channels
without being returned or getting spoiled,
that must be a major reason for keeping it that long.
Is that possible in six months,
or will a lot of inventory need to be written off?
Sir, I don't think so, because
consumer trend is changing.
- People... - You didn't get it. Let me ask Viraj.
You are right. 6 months is low for GT.
If the movement is fast, six months is fine.
But if the movement is slow, six months is an issue.
That was my question. Your product's shelf life is six months.
Can you extend it to one year?
I am not sure if that is possible.
Exactly!
One thing! Second thing, if we talk about consumer trust.
If I mention 12 months...
One of my mayo formulations had a shelf life of nine months.
I tested it at an exhibition,
and someone asked, 'Is nine months your shelf life?'
I said, 'Yes, we have lab certificate, you can check.'
The customer replied,
'In that case, I don't believe it is free of preservatives.'
Even if I state that it has a shelf life of over six months,
even if that's true,
- they will think something's wrong. - They will doubt it's fresh.
- Right! Something is wrong. - Yes.
Good insight!
In food, you need to be careful
because if we add jaggery to something,
you can't claim it's sugar-free.
Secondly, there's something called GRAS items,
India has the lowest global limits.
Indian laws are beautifully designed.
- And the third thing is... - How nice.
- Very nice to know. - I didn't know this.
The third thing is, as Indians we should be happy
because India's preservative limits is one of the lowest globally.
Wow!
- May I participate in your conversation? - Of course.
You mentioned
that the food standards in India
- are much better. - Okay!
But food safety is still a question in India.
If you go outside to have momo,
he will serve mayo. Do you know how that was made?
Fantastic point.
The laws are strong,
but are laws being implemented that strongly?
You are right. I am so proud of you, at 23, you understood the problem.
But you need to bifurcate
that laws are good, but there is a gap in implementation.
- Sir, implement... - Tell me something, Isha.
You are talking about unorganised street food.
But you are not competing with them.
So, you should compare with them.
Suppose the reputed food companies
add 0.1 PPM.
Then the sauce you are having with the bread has 0.1 PPM.
Then we assume that we've had home cooked meal since morning, right?
We should order food now.
At the end of the day, we accumulate
a big amount.
My point is that you are eating outside food.
We have no control over that.
These things have entered your house.
- You can take it out from your refrigerator. - Fair point.
- Good answer. - There are options, we are creating them.
Good answer, Isha.
What does that mean?
My startup is small.
It's in such an early stage, that I am handling everything.
- How many people are in your team? - My major team is remote.
Currently, I haven't hired anyone.
- Me, myself and I! - What are you saying?
- Yes. - These formulations
and packaging.
I've taken help from freelancers when required.
For packaging, I would sit with the graphic designer
and get it designed.
Where standardization is needed for formulations,
I would consult a food technologist.
- Oh! - I have not hired anyone.
Are you currently selling only through the website?
From my website, repeatgud.com and amazon.
When did you launch your product in the market?
Full-fledged on August 2024.
It hasn't, right?
- Actually, you've mentioned FSSAI here. - Yes.
FSSAI has guidelines.
- Follow size, font and colour of FSSAI. - It should be the same.
Please understand, that every food manufacturer has made this mistake.
When you make a new product, send it to us, and we'll correct the label.
Shall we get to the sales?
Tell us your revenues.
- Last month's sales were Rs. 1.4 lakhs. - Okay.
In October, our revenue was Rs. 47,000,
followed by Rs. 53,000 in September
and Rs. 22,000 in August.
How much does it cost you?
Our COGS is 25%.
Channel margin and shipping costs,
due to packaging in glass bottles is around 40%.
40% channel margin! Okay.
Then ad spend is 42%.
The salaries are going to remote teams, that is 56%.
- 56% - 56%?
How much are you burning in a month?
Minus 75%.
Who is funding the loss?
I've invested Rs. 28 lakhs so far
and secured a grant of Rs. 33 lakhs,
It's also debt from the bank and the rest dad gave.
Your dad has invested.
Dad has invested Rs. 20 lakhs.
What does your dad do?
My dad is a businessman.
- What business? - Real estate.
Okay! If this funding comes through,
will you return Rs. 20 lakhs to your dad or not?
Dad is already a shareholder.
I'll return it in the form of shares.
Okay, got it! Make sense.
How will you scale? What is your vision for this company?
I want to make Repeat Gud
a household brand in the healthy food segment.
As a founder, I am coming out.
I took a public challenge on Instagram
- to take my healthy food brand to Rs. 1 crore this year. - Okay!
My goal is simple, ingredients matter and choose better.
Okay, got it. How will you do this?
First, we'll focus on D2C,
then expand into other categories beyond sauces.
We already have products in the pipeline,
like a chocolate spread.
That's fine. Making products won't turn you into a household name.
How will you become a large brand?
I will also market it, right?
- I will be present in e-commerce. - Got it.
Quick commerce! Then we'll start targetting premium offline stores.
I am already doing content.
Then I will do ad spend accordingly.
Isha, do you think the price is too high,
and could that pose a challenge for widespread adoption?
It's possible that we will reduce the cost in the future
as we scale.
If we look at competitors in similar category,
their price point is similar.
Who is our competitor?
Troovy is one of our direct competitors,
but we differentiate ourselves significantly from them.
Our mayo is one of a kind in India.
You build a company at the age of 23. That's incredible.
It is a good start. The product tastes good.
I think you will do very well.
I have two issues.
First, there are legal issues.
When I read FSSAI.
And that it has no sugar, but there is sugar.
It has jaggery, but you mentioned 'no sugar'.
Second, I want to suggest
that you form a team when you have money to help you.
Unfortunately, I am out now.
The good thing is that he identified
the right issues and they can be resolved soon.
I think you are too early for investment, but you are on the right track.
I will give you this. This is my number and a message.
- Please get in touch with me, I'll help you. - Sure.
I don't think you're ready for investment.
And we will sit together and solve these problems in one day.
You focus on work and taste of the product.
Maybe you can label this as Cashew Mayonnaise
because it might not be widely accepted just as 'Mayonnaise'.
You could sell more by highlighting the cashew-based mayonnaise.
I am out at this moment. I am sorry.
Sure, sir. I'll take the feedback.
Your intention and attitude is nice, but you are very new.
Work with Viraj or other mentors
to bring more depth,
understanding, and scale into this.
Then you will be investor-ready.
I think at this point,
you shouldn't take investors money, because you are too early.
And for that reason, I am out. But love your attitude.
Isha, you are awesome.
- Absolutely fantastic! - Thank you!
You are an absolute killer founder.
- Thank you! - At 23, the knowledge you have gained
and your execution,
what you have accomplished in just four months,
- is incredible. - Thank you.
This is the classic situation.
The heart is saying yes, but the mind is saying no.
With sales of around Rs. 1.5 lakhs, it's difficult to determine
the unit economics,
whether consumers will accept the product at this price point
or if a price adjustment will be necessary.
Many unanswered questions.
It is too early for the investment
and ripe for guidance.
You will get guidance.
I am out today.
But wish you the very best.
You will be very successful, Isha. All the best.
Isha, did you come here for investment
or guidance and advice or both?
Sir, I am still young. I need guidance and advice.
You are getting that from everyone.
They agreed to help you. But what about the investment?
- I also want investment, sir. - You do?
The lion is yet to speak,
let's talk.
I'll share a story with you.
In the last one year, I have been looking for ketchup
that is good for you.
My daughter is young and she consumes a lot of ketchup.
I did find a couple of brands
and I got in touch with those founders.
I was wondering why such products are in the category.
But they expanded into groceries,
aiming to include grains,
apple cider vinegar, and various spreads.
Although their ketchup was fantastic.
After having your ketchup,
I was reminded of one of the few
natural healthy ketchups that is actually tasty.
Your pitch is defined by three things.
Three P's.
Poise,
product and passion.
You are lacking a fourth P,
which is a plan, a concrete plan.
But that's okay.
Every company is in different stages.
Therefore, I consider you pre-revenue.
I have an offer for you.
Because I am passionate about this.
This will be an emotional investment for me.
I will give you Rs. 50 lakhs for 10%.
You asked for 5%.
A lot of work is pending.
And I have a small condition.
When do you have to complete the challenge of Rs. 1 crore?
By March or April,
I will bring the monthly ARR to Rs. 8 lakhs.
- That's for sure. - Fantastic! I'll give you another Rs. 50 lakhs.
In March,
when your run rate is Rs. 8 lakhs...
Even if it's Rs. 7 lakhs, I don't care.
10% up and down doesn't matter.
But I'll give you another Rs. 50 lakhs for another 10%.
after that we will see what to do.
For that, I will have to take a call, sir.
- You'll have to take a call. - Yes.
- Okay! Go and call. Let me know your decision. - Thank you!
[music playing]
- Very impressive founder. - Amazing!
It's long-term! At 23, how much will it compound?
She has to get a few things right.
- If it was perfect, someone would've invested. - Yeah!
- And Rs. 5 crores... - She's very good.
Very fearless.
She is so concise. It's hard to find someone like that.
She is so concise in the way she answers.
- Hello! - Hello!
- Can you imagine, she is 23 years old. - Yes, amazing!
[music playing]
What about the condition?
Ah...
For now, I would like to take Rs. 50 lakhs for 10%.
I know, but that is part of the deal.
- I am sorry, I got confused. - Let me explain the offer.
He says it's Rs. 50 lakhs for 10% now.
And if he wants... Not you, but if he wants,
when you hit the run rate of Rs. 8 lakhs per month,
he can take another Rs. 50 lakhs for 10% at the same valuation
and you can't refuse him.
[music playing]
- I can't refuse either. - Okay.
Can we keep two ways?
If it's around Rs. 8 lakhs,
we will do maybe... As you said, your offer.
But if it's Rs. 15 lakhs or Rs. 20 lakhs,
- or an amount that impacts the business... - It increases.
Then I feel that the valuation would be too low
to dilute 20%.
- Then... - Very nice.
I am open to that.
The range of our second tranche will be between 7%-10%
depending on the numbers.
This is good, Isha.
Can you make it 5%?
5%-10%, depending on the numbers.
...what will happen if sales are lower.
You, on the other hand, negotiated based on what will happen if sales increase.
Amazing!
Sir, I know that I can sell because a lot is happening.
You will! Remember this girl.
[camera shutter clicks]
Now, he will give advice,
and he will mentor you.
We shall see what we will do with both of them.
They will eat the sauce.
- All the best! - Great meeting you.
[music playing]
Amazing! Special founder.
- Very good! - Good founder.
- Very good! - There is 'Gud' in the name.
[chuckles]
[music playing]
Welcome to ACKO Change Makers,
where we really welcome change.
It has been portrayed beautifully here,
behind us on this change makers wall.
With our forward-looking vision,
we are bringing a change in health and fitness
Today's change maker is Isha.
- Hi! - Hello!
- Congratulations! - Thank you!
I avoid having sauce sometimes
- and I don't let my dad eat also because of sugar. - Right!
So, thank you
- for inspiring so many people at such a young age. - Thank you.
We have a lot of viewers who are young
who have the same issue.
Whether it's sugar, health, etcetera.
How can they make smart choices without fear
that they don't need to leave sugar
but still lead a better life? Meaning make better choices.
Moderation is the key.
You need to be mindful
about how much you are eating and when.
But if you can't be mindful about that,
you want to eat three meals.
- Then you should look for better alternatives. - Yeah!
At least switch the kind of sugar you are having.
Don't have empty calories.
You can switch it with jaggery,
honey if you get good quality or rock sugar.
If you have something with sweeteners with calories,
then have the second one with Stevia or Monk fruit.
- Basically, there are alternatives. - Yes.
- Right! - Amazing!
You've had so much clarity.
Thank you for bringing the change in the industry.
It's a great step forward.
Let me tell you,
she is making a change in this industry.
ACKO, with its revolutionary offering,
is changing the landscape of insurance.
If your car breaks down 'mid-way, guys,
don't worry.
You get roadside support with ACKO's insurance
and the real-time updates of real-time updates too.
You are getting a memento from ACKO and Shark Tank.
- Here you go! Congratulations! - Thank you!
[camera shutter clicks]
[theme music playing]
Sharks, whether we gain anything or not in this world,
there’s one thing we all seek and that's freedom.
Imagine a world
where there’s the freedom to do anything.
Freedom to boldly express our true personality.
Freedom to unleash the artist within us.
And this is the world of skateboarding!
Wow!
[music playing]
Whoa!
[music playing]
Don't do that.
[music playing]
- Well done, guys. - Good job.
- Wow! - Very good.
Well done!
Thank you!
Skateboarding is rapidly growing among the youth in India today
because it also represents their idols.
Worldwide, skateboarding
is the sixth most popular sport.
...that embraces
hip-hop, fashion, and street culture.
Not just that, it's also a competitive category
in the Olympics.
But even today, in India,
finding a good skateboard is like looking for a needle in a haystack.
- Oh! - If by chance you find a good skateboard,
it comes with a heavy price tag
that anyone would think twice before buying it.
So, Sharks, if this continues,
then how will we feel free?
Sharks, I am Ravinder,
I am from Chandigarh.
And we are Skate Supply India.
A multi-brand platform
where we have exclusive rights to sell
not just one or two, but a total of 20 international skateboard
product brands across India.
Worldwide, the market for skateboards
is more than Rs. 22,000 crores.
In the last 1.5 years,
we have catered to more than 4,000 customers.
We started direct-to-consumer market last year.
But we have been connected
So, Sharks, This revolution has started in India.
And we are on our skateboard
to push this revolution even further.
Today, our ask is Rs. 50 lakhs for 2% equity in our company.
Say it!
- Freedom! - We will take it back!
Skate Supply India!
Great energy
and powerful presentation.
- Thank you so much! - Your friends woke us up
- by skateboarding. - Ravi, have we met?
- No, never! - You look familiar.
Weren't you a Shark earlier?
No.
- But... - You look like a Shark. I don't know who.
- I've been told! - Actually...
What you are hinting at,
- we've heard that many times. - Anupam is right!
- You've been told that, right? - Many times.
But your personality is absolutely different.
Thank you!
You are a guy who smiles
and a nice guy.
I am smiling because my wife told me
that it has to be impactful. If I don't smile,
it won't be impactful.
- I'm smiling out of fear. - She'll ensure you never smile again.
[laughing]
- Look at our wedding photo, he's not smiling even once. - Oh my!
And I am standing like this.
[laughing]
You got married in which year?
We got married in 2013.
- 2013, okay. - How did you come up with skating?
From marriage to skating.
I am into skateboarding manufacturing.
- I've been skateboarding for more than 20 years. - Oh!
We started direct-to-consumer last year.
How did you get into manufacturing?
I went to meet a friend in China.
In 2004,
I went to a company to interview.
They were into skateboarding.
I worked over there for 1.5 years.
The boss shut down his office
and the customers came to me.
This is how my journey of skateboarding started.
It takes an hour from Guangdong.
Our factory is in China.
We live in India as well as there.
That says Skate India Supply.
- SWC Brand Pvt Ltd is the name of our company. - And this...
And this is our brand name.
Then what's Hearty?
Hearty is a sub-brand.
What's the name of the company in China?
Bubble Skatzz Company Limited.
What does that company do?
- Just manufacturing. - Manufacturing.
For their brand or the world?
- The world. - Globally.
All we've done is
over time, take the pan-India rights
and distribution of international companies and we're...
You supply to some of those brands through your China factory...
80% of the brands are manufactured by us.
80% of those brands.
- 80% of those brands! - Yes.
You have other products apart from skateboards.
Tell us about them.
Hearty is...
including multi-million dollar brands
because of how they look, for their comfort
and also their convenience.
- Oh my God! It's heavy. - If I try this, will I fall?
- Hey, Aman! - We'll help you.
Give him a helmet.
No need for a helmet.
Whoa!
- Out of the way! - Whoa!
- [Aman laughs] - Whoa! You'll hurt your head.
Can you guys seriously do this?
Ravi can do it very well.
Okay? Show us.
Just don't fall.
Not bad!
If you sell it all day, you'll get good at skating too.
He can do it.
- Nice! That was good, wow! - Great. Good job.
You sell hats too, okay.
I love this though. Devil... Hearty!
It's terrific.
A lot of brands in the US
like Vans have been in business for 50 years, right?
Why didn't this culture become big in India?
Let's take the sneaker culture for example
that recently picked up.
Again, we thought
such expensive sneakers would never sell in India.
It all boils down to availability.
If the availability increases and the pricing is right,
then people are bound to buy it.
No, the pricing comes later on.
Initially what happens is a few people buy the sneakers,
people happen to see them somewhere, you know?
Skateboarding was never seen in India.
I mean, it's there and a lot of people are doing it.
Skateboarding is growing at a really fast pace in India.
Give us some numbers.
if you check the statistics and data,
India, in the Asia Pacific,
is the fastest-growing when it comes to skateboards.
India has 5 lakh active skateboarders.
Go to any Metro station
and you'll see 100 skateboarders on any given day.
True, but not a very high number.
That's the problem.
How are your skateboards priced?
We sell skateboards on our website, that start at Rs. 1,000
and the highest one is priced at Rs. 50,000.
What does a regular user buy?
What a skateboarder would buy starts at Rs. 3,000
and the best-selling skateboards
are in the range of Rs. 5,000 to 6,000.
What are similar quality skateboards priced at?
Our biggest competitor is Decathlon.
We offer more variety.
The second differentiator is quality.
and be making Rs. 15-20 crores a year.
Why are you enthusiastic about a Rs. 50-crore market?
Here's a fact.
Regardless of the size of your business,
you need to be enthusiastic. It's what brings growth.
When we started this, we were nothing.
We built this from scratch.
And by nothing, I mean
nobody gave us a rupee to build this.
We did it on our own, reinvested money and got it going.
Now, the business is at a level
where we don't wish to expand or grow it further.
Jas, do you think that your sales and growth of this brand
- are way higher compared to manufacturing? - Yes.
- Way higher. - In 5 to 6 years...
Do one thing.
Tell us your numbers
and also tell us your vision
in the next 5 years for those numbers.
We've done Rs. 85 lakhs this year so far.
When did you start sales?
In June last year.
What were the numbers in the last 6 months?
We did Rs. 57 lakhs in 6 months last year.
What are the projected sales for the year?
We will close at around Rs. 2 crores.
This year's net profit so far is 9%.
We burned money last year
because we were trying to build our brand.
And also, last year, we added a lot many assets too.
Does Skate Supply India currently sell just Hearty
or other brands as well?
20 brands.
Out of the projected sales of Rs. 2 crores this year,
what would be Hearty's share and that of other brands?
The current sales of Hearty is almost 78%
compared to other brands.
So, 80% of the sales is through your brand.
Yes, Hearty.
Which cities do you sell in?
Mumbai is the biggest market.
What percent of sales is Mumbai?
- The sales from Mumbai constitute 30%. - 30%.
- Mumbai and Pune are two markets where... - And the rest?
And 40% of the sales are from Delhi.
When I say Delhi, Haryana and Gurugram are also included.
70% comes from two clusters.
Yes, the rest is from Chandigarh where we have walk-in sales too.
All the skateboarding competitions in India...
- Nationals... - The Nationals are held in Chandigarh.
Our walk-in sales are 50% from the Chandigarh warehouse.
Will the entire sales be from India or globally too?
It's purely from India now.
Yes, we do want to distribute
our Hearty brand in different countries.
So, what percentage out of Rs. 500 crores will be from India
and what percentage of distribution will be from abroad?
If we... A lot of networks, say Europe, US,
Japan, a few markets in the Asia Pacific
and Australia as well,
we are in talks with a few distributors.
If we can crack even a few of them,
then at least 20 to 25% will come from these regions.
Which is the world's biggest skateboard brand?
There are quite a few.
Santa Cruz is doing very well.
Primitive is also doing good.
Then, there's Toy Machine.
What's the revenue of Santa Cruz?
Santa Cruz sells nearly 2,00,000 skateboards a year
and its single-product price is more than USD 100.
Their retail price starts from USD 100 to 160.
If we consider USD 100, it's just 20 million USD.
I was talking only about their skateboards.
They sell 2,00,000 pieces of just skateboards.
No skateboard brand sells just skateboards.
They have merchandise, hats and shoes.
The revenue from their merchandise is very high
and the units are a lot too.
Every skateboard brand sells either apparel or shoes.
You won't see any skateboard brand that doesn't sell apparel.
Got it.
Ravi and Jas, I love your enthusiasm.
- Your energy level is infectious. Crazy! - Thank you.
However, I don't have the confidence
that this will pick up to international levels in India
as you anticipate.
I know it's a... You know...
- This is a medium of self-expression, right? - Yes.
But it requires a lot of culture, place,
and the pits where you skate up and down, that you see in the US...
You need a lot of that in place.
I'm not feeling that confident about the TAM and culture right now.
For that reason, I'm out
but I hope you prove me wrong.
Skateboarding isn't just done in bowls, it can be done on flat lands!
No, I mean...
[all laugh]
I mean, in terms of... When you go to the US,
- and people watch... - Not many people go to bowls.
Most do it on flat lands.
But I enjoy seeing it in the bowl more.
I've enjoyed that more.
It's done more on flat lands
and people mostly skate for casual cruising.
The tricks you mentioned
- are a part of it. - Even on flat land,
I'm not confident of the TAM and that's why I'm out.
Okay, thank you.
Ravi and Jas, my suggestion to you would be,
do not take money from investors for this at all.
Why take investor pressure and complicate your passion?
And let this be your passion project.
Unless the market grows and touches Rs. 100-150 crores,
you must not raise funds
for your own sanity.
I wish you all the best but I am out.
- That's okay. Thank you. - Thank you.
I think more than your energy,
I liked your authenticity.
You are what you say you are.
The market is small
and it isn't clear what will exactly happen, right?
So, it's a bet on you two
and some culture.
You know, it may or may not work out.
I could bet on that,
but I think the bigger issue is your manufacturing in China.
It's good for you. Very good for you.
But as an investor, I'm trying to weigh the risks.
How do I ensure my investment?
I don't want to get stuck.
You're making good money.
I was wondering if there was a way
where I could give you input
and at the same time, secure my investment.
It'll still be risky.
But there's a shot.
Right? So, I'll make you an offer.
Rs. 50 lakhs for 5%.
So, that's a Rs. 10-crore valuation
which is, I think, decent.
However, to secure my investment,
I will need a royalty.
That would be 2% of sales until I make 2x.
it's always with a narrow TAM.
Generally, both the investors and the founders are clear
as to how the TAM will expand going forward.
I am not clear about it in this space.
For this reason, I am out
but even if it is at a slightly higher valuation,
I'd love to look at it in the future.
Wish you all the best, guys.
This is a sub-culture
and you never know when a sub-culture turns into a culture.
I'd like to join you.
Rs. 50 lakhs for 5%
but I need a royalty of 2% of sales
until I get my money back.
[tense music playing]
Okay, he has matched the offer.
Both the offers are the same. Pick one.
Keep one thing in mind.
When an investor Shark takes royalty from you,
it means they're valuing your company at 0. Get it?
Okay?
The Shark will recover the entire investment
regardless of whether the company runs.
We didn't say that.
Anupam said that during one of the pitches.
No matter what the valuation,
the value is limitless.
- This is just sweet talk. - Now...
[laughter]
The valuation will come written on your paperwork.
The valuation will be Rs. 10 crores.
[pensive music playing]
So, we agree to 3% equity
and we don't wish to give royalty.
It's difficult for me without royalty.
If Aman wants to do the deal without royalty, he's free to.
Rs. 50 lakhs for 4%. I reduced the equity by 1%.
- And royalty. - And royalty of 1%.
Ravi, bro! Jas, bro! Take a call.
So, no royalty and 3.5% equity.
Let's stick to Rs. 50 lakhs.
[tense music playing]
Finger hearts.
Let's do one thing, Anupam.
You want a deal with two Sharks and you'll get us both.
Rs. 50 lakhs for 5% equity.
But we will take royalty.
1% till we get our 1x return.
Please, let's not do royalty.
No, that's not possible.
Jas, final decision now.
- Let's finish it off. - Jas, please decide.
- Let's finish it off. - Decide, come on.
Final decision. No royalty, 4% equity.
Not on the table.
Okay, then just pass on it. It's okay.
Okay. Thank you, guys.
- Thank you. - All the best.
- Thank you. Thank you so much for your time. - Thanks, take care.
'We didn't want to do a one-sided deal.'
'We were clear about it from the start.'
We even told them
to come on board for 4% equity
and Rs. 50 lakhs,
but had we accepted the deal,
it'd have been unfair to us.
And that's it!
- Hello, Jaspreet and Ravinder. - Hello.
- How are you? - Very good.
- Great? - Absolutely.
Welcome to our PokerBaazi zone where you hold the cards.
Well, poker and business have many similarities.
The tables can turn at any time, right?
There are three phases to opening the community cards in poker.
The first phase is a flop.
That's a flop.
Then comes a turn.
And then, a river.
Similarly, every business has three phases too.
We were already manufacturing skateboards.
During the pandemic, we started getting random texts
to start selling individual products.
- Manufacturing does have the bare minimums. - Yes.
- We'd get a lot of queries from India. - Hmm.
Then we thought
it was the right time to introduce this business in India.
We spoke to many international brands
and requested them
to give us competitive prices for our Indian market.
That was our journey.
We introduced this product.
The culture already exists.
It's a vibe and it is going to explode.
We're absolutely sure of that.
Amazing.
Log on to the PokerBaazi app,
use your strategies to make a winning hand.
Go and download the PokerBaazi app now.
- What are you doing? - 17...
I was making a prediction for the Sharks.
I'm strategising what they could do next.
You are predicting for the Sharks!
- Yes. - You're that drawing-room Shark!
Didn't you see the last pitch?
They should've made the deal. It had a lot of potential.
I got it!
Do you feel the same?
You think you're a Shark,
you can do this too and you know everything, right?
If you know everything, then prove it.
Visit the Lenskart app or Lenskart.com
and participate in the Offer Or No Offer contest.
Predict who gets the funding and who doesn't, just like me,
First, you go.
Go. I was going to participate anyway!
[sighs]
[theme music playing]
[theme music concludes]
Greetings, Sharks.
We worked so hard
that the corporate world took the juice out of us!
[laughs]
Speaking of juice,
you feel like drinking something or the other at work.
So, we'd take a soda or cola
from the vending machine or the fridge.
We thought of switching to healthy drinks
and began drinking packaged juices and smoothies
but they had more sugar and preservatives than juice.
Then we thought
since we'd been squeezed dry,
why not make juice for everyone?
The routine wouldn't change
but we could better the quick fix at least!
That was it.
We quit our corporate jobs...
- Ah! - It's fine.
And started Utopian, the ideal drink.
Utopian is a premium mass beverage brand
offering no-preservatives and no-sugar beverages.
Sharks, our products come in 8 flavours.
We sell on both offline and online channels.
The shelf life of our drinks is 6 months
and we've sold over 1 lakh units so far.
We envision to make Utopian not just a beverage brand,
but a complete food and beverage brand
whose name and taste is etched in Indian hearts.
Sharks, let's make an ideal world,
a Utopian world, with good things only.
Abhishek and Shweta, welcome to Shark Tank Season 4.
Thank you so much.
How does it feel to be here?
We're excited.
- Let's end all your excitement. Just wait. - [laughs]
Let's try the products and then, we'll talk.
- Okay, sure. - Absolutely.
The packaging is very similar to Wingreens, right?
You're talking about Raw.
- Raw... - Raw.
- Yes, Wingreens acquired Raw. - Yes.
Same bottle...
- What's this? - Litchi juice.
- Are they all the same? - No, there are other flavours too.
This is our Detox drink. Spinach, cucumber...
I don't want detox now. Tomorrow morning.
- Which flavour is this? - This is Litchi.
- Litchi? - Yes.
Thank you.
Very tasty. Litchi is very nice.
Yuck!
Why did you pick Spinach when there were others?
I happened to pick it up.
[music playing]
This has an aftertaste.
- Does it contain 'ashwagandha'? - Yes.
'Ashwagandha' has a very strong taste.
Is this a mix?
Yes, Alphonso mango, oat milk and banana.
No. Will you charge us for this?
- No. - Then give it to me.
[laughs]
Hey, according to WHO,
your daily sugar intake should be 24 g.
This has 25 g of sugar.
This is a better-for-you product.
So, just one bottle of this completes my daily intake of sugar!
For added sugar, that is true.
The sugar this contains comes from fruits and honey.
- Doesn't that count in your total sugar? - It does.
Be it added sugar or fructose, it's still sugar.
So, you're in the better-for-you, and not the healthy space.
Yes, better-for-you category.
Actually, just quickly.
- I tried all your products. They're good. - Thank you.
Some say superfoods while others don't.
- Why is that? - Yes.
We have two ranges.
Let's start with our story.
They've watched too many episodes.
- So... - You know what will happen, right?
We'll ask you a few questions about the revenue and P&L.
Then, he'll ask you about the sales and unit economics.
- Yes. - Then we'll make a decision.
Then, you'll make us an offer.
We'll see about that.
First of all, as self-aware consumers,
that its acceptability in India was relatively low.
So, for example, Spinach, the Detox smoothie
or Energy, the 'ashwagandha' one.
When did you launch good-for-you?
We launched them in August 2023.
Yes.
Then, our first corporate tie-up was with Awfis.
It is a co-working space.
We launched our smoothies there.
One, it ought to be tasty.
Second, they don't want sugar.
And third, they don't want preservatives.
So, we launched juices, which is a better-for-you category.
It was launched in April 2024 with just one flavour Litchi
and the feedback was amazing.
- You do this full-time now. - Yes.
I am from Indore and I did my schooling there.
I did BTech, Chemical Engineering, from IIT, Mumbai after that.
After that, I held a corporate job for 9 years in finance.
- Where? - Deutsche Bank.
I was in trading.
Okay. Then you started this in 2020.
We first experimented
by making fresh smoothies and others from home.
- But originally the idea in 2020 was also the same... - Yes.
- How we could make some sort of drinks. - Some sort of drinks.
- On average, they cost Rs. 100 or 99, right? - No.
- No. - The smoothies cost Rs. 100.
Our price range is Rs. 40 to 99.
- Have you heard of Paper Boat and Raw? - Yes.
There is already a history of beverage companies
and natural juice companies
that have been trying for many years, right?
One made it.
Your packaging reminds me of Raw a little bit, to be honest.
There's a lot of baggage associated with it though.
Whether it's successful or not.
The evidence and data
show that it probably wouldn't.
What are you doing differently from them?
After the pandemic, there exists an awareness towards health.
When we studied the market,
we learned that people know
they don't want a lot of sugar and preservatives.
Secondly, our distribution strategy.
Online shipping is very expensive.
So, we started with offline channels
and we're building on that.
- Let me ask the question in a different way. - Sure.
Suppose I go to a supermarket.
On their refrigerated shelf,
I see Raw Pressery and Paper Boat.
Why would I pick Utopian?
- There's real juice for Rs. 10. - Tropicana.
Sir, Real and Tropicana in the Rs. 20...
We'll talk segment-wise.
They come in the no preservatives and no sugar variants too
but they have 1 litre packs.
So, firstly, they're not available in smaller packs.
You missed an important piece of fact
and thought we wouldn't catch it.
You didn't tell us about Raw Pressery.
No, Raw...
For instance, your product is right next to Raw Pressery's.
I don't quite understand. Just by looking at the packaging,
why would I pick this over Raw Pressery?
Firstly, you spoke about supermarkets.
We're not really starting with supermarkets.
We are trying to start with general trade.
'GT and MT, that's General Trade and Modern Trade.'
'The grocery stores near our homes are referred to as GT'
'and Modern Trade comprises of big-box retailers'
'and self-service stores.'
We mostly sell to A, B and C category stores
are the 180-ml juice packs priced at Rs. 40
that generate 90% of our business.
as they fall in the premium range.
We want to offer our products at a mass-premium price point
as better-for-you products, which is a huge gap.
How much lower can you bring this price point?
At scale, can it come below Rs. 30 to be able to sell mass-premium?
The current price point is Rs. 40.
We could bring it to Rs. 30 but that will take some time.
It could be done in a few years.
I want to understand the technology.
Is it retort or cold retort processing?
How are you giving it shelf life?
- We use retort processing. - Hot?
- Hot retort? - Yes.
For example, what concerns me is the strawberry and banana...
You can understand, strawberries and bananas in one product.
So, what level of food safety are we doing?
How is the testing happening post-manufacturing?
We've tested the shelf-life of all the products up to 9 months.
After that, we launch it for 6 months.
You're at a price point of Rs. 40 in GT.
What other brands sell in the range of Rs. 30 to 50?
At a Rs. 20 price point, we have Tropicana and Paper Boat.
All the juices are priced at Rs. 20.
But yours is Rs. 40.
Ours is Rs. 40
- because the quality... - It means the customer needs to be aware
that this product is materially healthier.
Slightly aware, yes.
We're writing no refined sugar and no preservatives on the packs.
What is the price point of their no-sugar and preservative products?
Which might be a potential problem for you.
This is a big sweet spot
because Indian consumers
are becoming increasingly health conscious
and they are okay to pay a little bit of premium.
- I think this is a sweet spot... - Yes.
But in the right channel.
Had you launched this on quick commerce,
you'd have sold a lot of units even at Rs. 40 or 50.
GT has a high price sensitivity.
Why didn't you get listed on quick commerce?
We're about to be listed on it.
None of these are detox ingredients.
How's this detox?
- This is still better-for-you... - No. Why is it better-for-you?
- It has no added sugar. - Or preservatives.
How does no sugar make it detox?
We gave it that name for the nostalgia.
- I'm from health care. - Yes.
So, I take these claims very seriously.
- Yes. - Okay?
- This is just juice. - Hmm.
You can't call this detox.
This doesn't have detox ingredients!
- It has nothing to do with detox. - Come on!
- It's just for nostalgia... - Of what exactly?
Nostalgia comes from 'kanji' and not the word "detox"!
Your nostalgia is problematic for the consumer!
No, this is not right.
It's misleading the consumer.
- 100%. - I've been reading the label for so long.
"Am I missing something?"
Yet I continued reading it. It has no detox properties.
It is a claim zone.
- Claim... - Oh, no! This is crazy.
- That's why you omitted the E in "detox". - Yes.
- D-tox is... - But that is absolutely wrong, bro!
- I know! I'm not... - It means... Yes.
I am not condoning it.
Namita, good point.
You're selling something else in the name of detox!
- Coming to immunity. Does this even... - Yes, it does.
- This contains 'tulsi' and 'amla'. - Tulsi and amla.
It has good ingredients.
- They are functional beverages. - Unbelievable!
Abhishek! Shweta!
Unfortunately, I'm out.
I don't even want to know your numbers.
Your use case, brand positioning is all out of place.
I'm really worried.
You mentioned detox but that was all false.
Unfortunately, you have a very confused brand positioning
and vision.
[solemn music playing]
I'm really interested to know where your numbers are coming from.
- Your GT strategy... - As clear as juice!
Yes, as clear as day!
This year April onwards, our sales were Rs. 29.15 lakhs.
Coming to the last three months.
In September, we did Rs. 4.50 lakhs,
Rs. 6.43 lakhs in October
and Rs. 7 lakhs in November.
What was the loss in November?
Our loss in November was Rs. 9 lakhs.
Have you raised funds or invested your own money?
We've raised funds.
From whom, how much and when?
We received a grant of Rs. 9.5 lakhs from the government.
Darn! Everybody is... What is with the Indian government?
Where did you apply?
Everyone has got grants. Where do you get it from?
You won't get it. Sit back.
- Won't I get it? - No. Sit back.
Let me know later on. But which grant did you get?
Nidhi Prayas.
[indistinct]
After that, we raised funding of Rs 95 lakhs from friends and family
in October 2022.
It was on a pre-money valuation of Rs 10 crores.
Also, we've got Rs 30 lakhs OCD
from the Startup India Seed Fund.
on a pre-money valuation of Rs 20 crores.
A part of the funds are already with us.
The rest are yet to be received.
Who is investing this money?
They're our friends and family.
How much cash do you have in your bank?
As of the end of November, we have Rs 4 lakhs.
But the funds are yet to be received.
Has it yet to be received, or have you received it?
Some friends and family members have committed it to us.
They will transfer when I ask them to.
It should close this month.
Abhishek and Shweta, I am quite worried, to be honest.
My bar of worry is high.
I am worried because the two of you are talented.
But this business is not on track currently.
It's crucial for you to realise that.
All those around you see potential in you
because of your past track record.
That's why they are giving you money.
But that is also a responsibility.
You've taken Rs 3 crores from your friends and family.
You have taken a grant.
It could've helped another startup, as well.
So, build this business with a sense of responsibility.
Also, when you're raising money from people,
reflect on it once again.
Can you generate returns?
Can you build a thriving business?
There are no such signs in this business for now.
My goal is not to demotivate you. I want to channelise you.
Channelise your talents, energy and intelligence.
Either find another product in this space
or pivot into some other business. Look for another opportunity.
Nobody has said that only juice brands can succeed.
I wish you all the best, guys. I am out of it today.
Yes, shark.
We advise them correctly,
or what we feel is appropriate.
It is time to do something else.
At Rs 4 lakhs a month, this product is not fit for the market.
I didn't like the word detox. It's misleading.
It shows clearly as it's not translating in sales, either.
To make you feel better, let me give you
a couple of examples that will shock you.
Do you know that YouTube used to be a dating app?
Then, it became what it is.
Slack, the biggest corporate communication app,
- used to be a gaming app. - Yes.
The reason they are so successful now
is because of the founders. At the right time,
they realised that the product was not fit for the market.
They were detached enough
to switch to something else.
So, this is my honest feedback.
Especially because I am from healthcare,
and words like detox are gimmicks these days.
There is no product market fit.
Try something else.
- Okay? - Sure, ma'am. - But for today, I am out.
I tried convincing myself to invest. I love this space.
After getting rid of
D-Tox and D-Light,
it means if your sale per day comes up to Rs 1 lakh,
please get in touch with me.
I would like to participate. Right now,
it's weird for me to invest when it is Rs 4 lakhs.
- As of now, I am out. - Sure, sir.
- Have you watched Shark Tank before? - Yes.
So, you were clear that after saying 'Good things only',
you would have to give the details. You knew what would happen.
Then, why did you still do it?
You must've also seen me saying
that beverage companies are headed to a crematorium.
- Yes. - Isn't it?
You've come up with the same model without any differentiation.
You only have one opportunity.
Do you know what has changed in the last five years?
You said many things had changed, and people were more aware.
What is the fundamental shift that has taken place
that can build your business?
That is quick commerce.
But you are in the offline market.
You're a part of the same crowd
where everyone is. People have failed there
despite investing hundreds of crores.
Yet you're taking money from your friends. You want to invest
Rs 2 crores in something in which people have invested Rs 200 crores.
We are also getting listed on quick commerce.
But after investing so much money, your game is over!
What will you do after listing with those Rs 2 crores?
You can't do much.
You are getting money because of your qualifications and background.
But that is not right.
If you want to enter a market which is already in ruins,
When I was young, my mom
used to call me stubborn.
What's the difference between being stubborn and being determined?
A stubborn man never tries to understand.
Don't be stubborn. Be determined.
But find the way that will take you to success. Stop burning others.
I'm out. Good luck.
- Thank you. - Thank you, guys.
- All sharks are out. All the best. - All the best. - Thank you.
Bye, have fun.
Thank you. The conversation was different with the judges.
However, our customers have showered love on us.
We're already available in many stores.
We're doing extremely well.
So, we're confident about making a good brand out of this.
People want products
which can interest them and keep them energised.
More healthier alternatives are desired.
So, I don't think there is any looking back to this.
'Acko welcomes change.'
Welcome to Acko change makers,
where we welcome change.
We saw a beautiful portrayal of change on our change-maker's wall.
With a forward-looking vision,
we're bringing inclusivity to health and fitness.
Today's change makers are Shweta and Abhishek.
- How are you? - Great.
It was excellent. We learned something new.
That's great. I want you to suggest to our audience
some changes they can make in their daily lives
to help them live healthier lives.
Sure! We always recommend everyone
start
consuming fruits.
Try to inculcate as many as you can.
Eat as many fruits as you can daily.
A little exercise is crucial. Nothing can be done without it.
A 30-minute walk is also enough.
Try to eat home-cooked food.
Utopian is there, if not anything else.
- Sure. - It means I am doing all three things wrong.
[laughing]
My problem is laziness.
- I am failing at it because of laziness. - Okay.
But you've brought about exceptional change.
Similarly, Acko is changing the insurance landscape
with its revolutionary offers.
Don't let random agents fool you now.
Know your insurer. Trust Acko.
It is the trusted choice of thousands of Indians
and has settled more than 3 lakh car claims.
We want to appreciate your change and the time you gave to Shark Tank.
So, we want to give you a gift on behalf of Shark Tank and Acko.
Thank you.
[camera shutter clicking]
Shark Tank India, co-presented by Acko Insurance,
PokerBaazi and Swiggy Instamart,
co-powered by Adani and Jaquar Bath and Light,
and partners Rayzon Solar, ICICI Direct,
Lenskart and Sofy.
Here, we talk to those pitchers
who have succeeded due to their hustle and drive.
They've made us all proud
by raising themselves from the stage of Shark Tank.
So, let's see what their journey was like.
'Our vision is to be India's top five'
'spice players in the next five years.'
'We demand for'
'Rs 1 crore for 0.5 per cent equity of our company.'
'How did you dare to enter such a cluttered market?'
'Who is the CEO?'
'We've not thought about having a CEO yet, ma'am.'
'How can you not think about it? Who will the investor talk to?'
'You're here for marketing and nothing else.'
'I am here for expertise.'
'Rs 1 crore for 1.25 per cent. It's the final offer. Yes or no?'
'Deal done, sir.'
- 'Yes! - Woah!'
[camera shutter clicking]
The ones sitting with us today are, in my opinion, the king of spices,
the founders of Zoff, Ashish and Akash. How are you?
Great!
Firstly, where were you when Shark Tank was aired?
When Shark Tank aired,
I was watching it with my father and friends.
I had invited around 50 of my friends.
We wanted to celebrate our first time on the TV.
How could we have done that without our friends?
Did you sense at that time that it was going well?
I believe the founder's guts run any business.
You could take ten steps for your business.
You cannot do anything else apart from that.
Look. I am asking this to learn from you.
When we saw the pitch,
the question arose of who would be the go-to person for discussions.
So, we thought a CEO must be necessary.
Established companies need CEOs.
In our business,
let alone now, we won't need a CEO
until our company stabilises with a sale of Rs 1000 crores.
Both of us are capable. Our work is divided.
How does it matter if we go wrong with one or two things?
- Everyone rectifies their mistakes. - It's a journey.
It's a journey. We built this business with our passion.
We've built it with our risk-taking abilities.
Our father's money supported us, for sure.
But this is a restart.
He believes we learnt a lot from the money he invested.
It will help us grow our company in the future.
Has your family's support
increased with time?
- Father helped us first. - Yes.
When we started out, people thought we destroyed the company.
After the Shark Tank episode aired, people realised our level.
Our city has started respecting us deeply.
Zoff is a different name because of Shark Tank.
Ours is a traditional category.
There is a theory called Blue Ocean-Red Ocean.
In the red ocean, all the players
are running the same business and fighting with each other.
The other is a blue ocean with limited players.
To create a big business,
do something with fewer people and competition.
We've tried so many new things.
- When everyone sold in stores, we started selling online. - Yes.
Now that we're going offline, we're being respected,
and our sales are increasing.
45 per cent of our business is from whole spices.
After one year, you will see
people equating whole spices with Zoff.
How big is the spice market? Also, how big is it online?
The spice market is Rs 1 lakh crores.
Of that, Rs 65,000 crores market is in India,
and the remaining is being exported.
Out of the Rs 65,000 crores,
Rs 25,000 crores is the branded market.
The remaining Rs 40,000 crores is unorganised market.
- The one being sold loose? - Let me tell you about that.
Of what's being sold loose, around 70-80 per cent are whole spices.
Many branded players must think
of Zoff as their competition.
Let me tell you. We are not their competition.
You are in those unorganised.
We're trying to make our place there.
I am trying to enter the growing market.
What are your recent numbers, as compared to before?
When we came on Shark Tank,
our online business was Rs 4.5 crores.
Now, our online business is worth Rs 9 crores.
- Wow! - We're easily one of the top three online players in India.
Go to any quick commerce or E-commerce.
We're present there.
The consumer likes our product.
Consumers consider our product
to be a new-age product. Everyone likes it.
Since we came to Shark Tank, people have started believing
we could be the next MDH.
What is your future plan for Zoff?
We will focus on the whole spices. We've also entered seasoning.
Seasoning is the top product for Gen Zs and Millennials.
Chilli flakes, oregano, 'piri piri' mix, and so on.
Also, we're working on ready-to-cook.
We're making a product which doesn't need to be cooked.
Adding our product in hot water will make your choice of gravy.
Can you tell us any valuable advice from Shark Tank
which has helped you?
Aman sir called us after Shark Tank.
'I can help you. Do you need help?'
'If you're facing issues in your business, I'm ready to help you.'
We asked him to help us enter two platforms.
We will do well.
- I took Rs 1 crore from Shark Tank at that time. - Yes.
With Aman sir's help, we reached a valuation of
- Rs 50 crores in 1.5 years. - Wow!
It's not about the money he gave me.
What values is his power and experience,
and how much did he help us?
More than 2 million customers
have tried Zoff through different platforms.
- Wow! - Our base is increasing. Believe me.
Today, our online journey,
85 per cent sales are from online platforms.
In the coming three years,
our offline business will grow even more rapidly.
We will become an omnichannel brand, which is the demand of this age.
Funding-wise, did you accept more funds after that? Or do you plan to?
We recently accepted Rs 40 crores from JM Financial.
- Valuation? - Around Rs 300 crores.
They are ESOPs and share returns.
But it comes up to Rs 250 crores to Rs 300 crores.
Within 16 months, we will get a valuation of Rs 1000 crores.
- 16 months? - 16 months.
- Wow! - If my run rate is 11 today,
I can guarantee if you call me
for the next Shark Tank, my sales will be Rs 25 crores.
I am on Shark Tank's success story.
So, next year, the 16th month will make it double.
I have a tagline for you both.
'Two brothers, and both are demolishers.'
- Ashish and Akash, I enjoyed talking to you both. - Thank you.
Your journey is truly inspiring.
You came from a traditional background.
Your competitors
are leading the same traditional space.
I welcome you both to our Adani Hall of Achievements.
We call those founders here whose success stories we want to capture.
Tell me, how does looking at these moments feel?
It was a nostalgic and emotional moment.
We came here as contestants two years ago.
Today, we've come as a success story.
What can be more encouraging for a founder
than his success being praised.
Definitely! You've returned home. We're glad you're here.
We want to appreciate your go-getter attitude
on behalf of Adani by giving you a gift.
Thank you.
Akash and Ashish, my brothers! How are you?
- Great! - How does it feel to be back?
It has refreshed our memories. We've become emotional.
Your valuation was Rs 80 crores when you entered.
- What is it now? - It has exceeded Rs 250 crores.
Rs 250 crores? Excellent! What's next?
What's the next milestone?
We want the company to be worth Rs 1000 crores within 1.5 years.
Is quick commerce going well?
- It's great. - Work on the brand now.
The zoff campaign is underway. We've made it quirky.
If that clicks, what you said about branding will be done.
Of all the companies Shark Tank has invested in,
your company will be the first
to reach the IPO stage. That's my belief.
Done, sir! Thank you for that.
Hello, friends. Please watch out for your eyes
while watching today's Ask the Shark
because this Shark's and my glowing skin
can adversely affect them.
Mr Anupam Mittal, Founder and CEO of People's Group, is with me.
- How are you, sir? - I am great, Ashish.
I'm better after seeing you now.
Anupam sir, Urmi has asked today's question.
Urmi is 41 years old and hails from Mizoram.
Her question is, 'Many startups are launched, but many'
The founders should have different skills that complement each other.
Your worldview should be similar.
But when your worldviews differ
or your wavelengths don't match,
it becomes a little toxic.
We've seen numerous times that founders fight with each other,
and the company has to shut down.
That's one of the big reasons.
It upsets me to see that.
- A relationship causes the company to shut down. - Yes.
The second is the obvious one.
We call it the product market fit.
Generally, we invest at the pre-product-market fit stage.
It means you have a concept,
- an idea or a thesis. - Yes.
You want money to validate it.
Many times, it doesn't get validated.
For example,
you decided to make flying cars three years ago.
You invested in that.
But three years back was probably not the right time.
So, that product is not fit for the market.
You don't find enough customers willing to pay money
to make your business profitable.
That's why we have to shut it.
Generally, these two are the prime reasons
that companies don't work out.
There is one more reason for companies to fail.
It is actually counter-intuitive.
People feel that taking investments
will increase the company's chances of success.
That may be true.
But it may also not be true.
In fact, more often than not,
taking investment
- might drop your chances of succeeding. - Oh!
If you accept funds before time
and more than necessary,
you enter a cycle
in which you must generate returns
That's also why businesses fail.
So, keep that in mind. Investments are good,
but when you and your business are ready.
- Very well answered, sir. - As always!
[laughing]
I'll see you in the next Ask the Shark
with a new question and a new shark.