1 00:00:22,480 --> 00:00:23,960 [music playing] 2 00:00:39,760 --> 00:00:41,160 [music concludes] 3 00:00:42,720 --> 00:00:44,280 [theme music playing] 4 00:01:12,160 --> 00:01:13,960 [theme music concludes] 5 00:01:14,560 --> 00:01:16,800 - Hello, Sharks. I'm Tina. - Hello. 6 00:01:16,880 --> 00:01:19,760 Hello, I'm Mumbai and we're from Simran. 7 00:01:20,040 --> 00:01:22,080 What are you saying? You forgot again, didn't you? 8 00:01:22,160 --> 00:01:24,240 Didn't you eat almonds? Here, have some. 9 00:01:24,320 --> 00:01:25,320 Sorry, Sharks. 10 00:01:29,600 --> 00:01:31,760 Sharks, this is an almond. 11 00:01:32,000 --> 00:01:35,360 It's rich in zinc, potassium, magnesium, vitamin E and fibre. 12 00:01:35,520 --> 00:01:40,120 So, we thought of incorporating its useful benefits in our desserts 13 00:01:40,200 --> 00:01:42,520 - and making unhealthy desserts healthy. - Oh, wow! 14 00:01:42,600 --> 00:01:44,920 And thus began the journey of Paleoo Bakes. 15 00:01:46,200 --> 00:01:47,920 Sharks, as we all know, 16 00:01:48,000 --> 00:01:50,920 the number of diabetics in India is increasing by the day 17 00:01:51,040 --> 00:01:52,840 and yet the market continues to sell 18 00:01:52,920 --> 00:01:56,120 the same old desserts full of sugar and refined flour. 19 00:01:56,320 --> 00:01:58,640 So, at Paleoo Bakes, we decided 20 00:01:58,720 --> 00:02:00,840 to replace refined flour with almond flour 21 00:02:14,200 --> 00:02:16,560 Sharks, the shelf life of our cakes is 30 days 22 00:02:16,720 --> 00:02:18,920 and that of our other products is 6 months. 23 00:02:28,280 --> 00:02:31,040 And the icing on our cake is that I'm a nutritionist. 24 00:02:31,400 --> 00:02:32,200 Very good. 25 00:02:32,280 --> 00:02:35,840 Sharks, you can order our cakes and desserts at any time 26 00:02:35,920 --> 00:02:37,520 because we're working 365 days. 27 00:02:37,600 --> 00:02:38,600 We don't take any off. 28 00:02:38,680 --> 00:02:41,680 And we fulfil 2,000 orders every month. 29 00:02:42,080 --> 00:02:43,720 Our cakes are loved by 30 00:02:43,800 --> 00:02:46,520 many Bollywood celebrities and Indian cricketers. 31 00:02:46,720 --> 00:02:48,440 Sharks, our vision is quite simple. 32 00:02:48,560 --> 00:02:51,960 We don't want anyone in India to have to give up desserts. 33 00:02:52,120 --> 00:02:55,040 We want Paleoo to be a part of your daily and healthy life. 34 00:02:55,200 --> 00:02:58,880 And our ask is Rs. 1 crore for 6.5% equity. 35 00:03:05,960 --> 00:03:08,640 Simran and Tina, welcome to Shark Tank. 36 00:03:08,720 --> 00:03:10,040 - Thank you so much. - Thank you so much. 37 00:03:10,080 --> 00:03:13,240 - Before this, you did nutrition and you did baking. - Yes. 38 00:03:13,320 --> 00:03:14,480 Tell us about your journey 39 00:03:14,560 --> 00:03:17,600 followed by what made you decide to get into business together. 40 00:03:18,160 --> 00:03:20,440 So, Mom used to bake since childhood 41 00:03:20,520 --> 00:03:22,520 but she used to bake unhealthy desserts obviously. 42 00:03:22,720 --> 00:03:25,960 I did my graduation and master's 43 00:03:26,040 --> 00:03:27,720 in the field of nutrition and dietetics 44 00:03:27,800 --> 00:03:30,000 and I mainly specialise in diabetes and cardiac. 45 00:03:36,880 --> 00:03:38,080 That's when I decided... 46 00:03:38,160 --> 00:03:39,840 I told her, "Mom, I want to do something" 47 00:03:39,960 --> 00:03:41,160 "but I don't know what." 48 00:03:41,240 --> 00:03:42,760 She said, "Let me bake" 49 00:03:42,840 --> 00:03:44,560 "and you add your nutritional skills to it." 50 00:03:44,840 --> 00:03:47,080 So, I said, "Okay." That just made more sense to us. 51 00:03:48,160 --> 00:03:51,440 Tina, have you done commercial baking before or not? 52 00:03:51,520 --> 00:03:53,400 Never. Actually, I was a teacher. 53 00:03:53,520 --> 00:03:55,680 - What did you teach? - I taught preschool kids. 54 00:03:55,760 --> 00:03:57,680 I was happy doing that because I love kids. 55 00:03:57,760 --> 00:03:59,440 Then she was doing clothing also. 56 00:03:59,520 --> 00:04:02,600 I did a lot of things. The problem is I can't sit idle. 57 00:04:02,680 --> 00:04:04,720 I just can't sit idle. 58 00:04:04,880 --> 00:04:07,080 You didn't add your name to the brand, Tina. 59 00:04:07,200 --> 00:04:09,440 It says, "By nutritionist Simran." 60 00:04:09,520 --> 00:04:11,200 - She's the nutritionist, after all. - Yes. 61 00:04:11,200 --> 00:04:12,840 You could have added your name too, right? 62 00:04:12,920 --> 00:04:15,840 Okay. I thought it's the same thing as we're mother and daughter. 63 00:04:15,920 --> 00:04:17,280 - So, might as well. - It wasn't there earlier 64 00:04:17,320 --> 00:04:19,040 but when you add "nutritionist", 65 00:04:19,200 --> 00:04:21,400 - it adds credibility to the brand. - Very good. 66 00:04:22,200 --> 00:04:24,240 - How do you pronounce "Palio"? - Paleoo. 67 00:04:24,320 --> 00:04:25,880 Paleo is an ancient diet 68 00:04:25,960 --> 00:04:28,520 which is basically no dairy, sugar or grain. 69 00:04:28,640 --> 00:04:31,080 Does it have two Os? Generally, there's only one. 70 00:04:31,160 --> 00:04:32,160 There's just one. 71 00:04:32,440 --> 00:04:33,920 We are a Punjabi family. 72 00:04:34,000 --> 00:04:35,720 - So, numerology and astrology! - [laughter] 73 00:04:35,760 --> 00:04:37,600 - Oh, numerology! - Right? 74 00:04:37,680 --> 00:04:38,920 Wow! 75 00:04:39,480 --> 00:04:40,800 You know I'm shocked! 76 00:04:41,280 --> 00:04:43,760 This hog hasn't asked for food! 77 00:04:43,840 --> 00:04:45,000 Are you all right? 78 00:04:45,080 --> 00:04:47,680 - He's had enough of The Cinnamon Kitchen. - Oh, fine. 79 00:04:47,760 --> 00:04:50,000 I hope he's not intimidated by you. 80 00:04:50,120 --> 00:04:51,280 [all laugh] 81 00:04:51,560 --> 00:04:53,440 On that note, bring the desserts, please. 82 00:04:53,800 --> 00:04:54,640 Come on. 83 00:04:54,720 --> 00:04:56,240 [pleasant music playing] 84 00:04:56,960 --> 00:04:59,280 - Gosh! So many options! We'll die. - Wow. 85 00:04:59,360 --> 00:05:00,640 So many labels! 86 00:05:00,720 --> 00:05:02,560 - This will be fun. - Taste everything. 87 00:05:03,000 --> 00:05:04,960 - Wow! - Oh, a plate for each one of us! 88 00:05:05,080 --> 00:05:06,920 - Yes. - Exactly! That's what... 89 00:05:11,520 --> 00:05:14,240 - This doesn't have almonds because you're allergic, right? - These two? 90 00:05:14,240 --> 00:05:15,880 - You're allergic to almonds also! - And this? 91 00:05:15,920 --> 00:05:17,160 - This is the limit! - This... 92 00:05:17,240 --> 00:05:18,360 [laughs] 93 00:05:19,080 --> 00:05:20,760 - This... - Lactose, sugar... 94 00:05:20,960 --> 00:05:23,320 - You're allergic to almonds also. - I think you want attention. 95 00:05:23,360 --> 00:05:26,600 Seriously! And then he says, "I wonder why people give me vegan." 96 00:05:26,680 --> 00:05:29,240 - You're allergic to so many things! - Firstly, let me clarify. 97 00:05:29,320 --> 00:05:32,600 - I'm not allergic to anything, I'm intolerant. - Yes. 98 00:05:32,680 --> 00:05:34,520 Had they given you almond, you'd have eaten it. 99 00:05:34,600 --> 00:05:36,080 The indulgences of the rich! 100 00:05:36,160 --> 00:05:37,440 Oh, come on. 101 00:05:40,160 --> 00:05:42,320 - So, this doesn't contain carbs or sugar. - Right. 102 00:05:50,320 --> 00:05:52,400 - Very good. - There's no aftertaste of stevia. 103 00:05:52,560 --> 00:05:53,360 - Very good! - Yes. 104 00:05:53,440 --> 00:05:54,600 - That is really good. - Thank you so much. 105 00:05:54,640 --> 00:05:56,040 Chocolate Flourless Cake! 106 00:05:56,120 --> 00:06:00,480 You must have added something to bring the flour-like consistency. 107 00:06:05,760 --> 00:06:07,920 Your Hazelnut Crunch Cake is delectable. 108 00:06:08,000 --> 00:06:09,200 - Thank you, Aman. - Thank you. 109 00:06:09,240 --> 00:06:11,080 - There's a brand called Theobroma. - Yes. 110 00:06:11,160 --> 00:06:14,800 I've had their Chocolate Cake which is supposed to be very good. 111 00:06:15,200 --> 00:06:17,520 - Your Flourless Cake however... - Yes? 112 00:06:17,600 --> 00:06:19,440 It is equally good or better. 113 00:06:19,520 --> 00:06:20,600 - Better. - Wow. 114 00:06:20,680 --> 00:06:23,320 How did you develop this recipe? 115 00:06:23,560 --> 00:06:25,920 - She told me I had to use certain ingredients only. - Okay. 116 00:06:25,960 --> 00:06:28,960 "You must use these ingredients only to bake the cake." 117 00:06:29,040 --> 00:06:30,960 Initially, there was a lot of wastage. 118 00:06:31,040 --> 00:06:32,080 We had many trials. 119 00:06:32,320 --> 00:06:35,080 We sent it to our family and friends. 120 00:06:35,160 --> 00:06:37,080 And eventually, we got it right. 121 00:06:38,040 --> 00:06:40,320 - Tina, when was the business launched? - Four years ago. 122 00:06:40,680 --> 00:06:42,520 This is a very competitive category. 123 00:06:42,600 --> 00:06:43,800 - It is getting now, yes. - Yes. 124 00:06:43,840 --> 00:06:45,960 Then how will you stand out? 125 00:06:46,120 --> 00:06:48,120 - So, I think the taste... We've tried. - The taste. 126 00:06:48,600 --> 00:06:51,040 - Many bakeries... - So, you think, in India, 127 00:06:51,440 --> 00:06:53,400 - in healthy cakes... - Yes. 128 00:06:53,480 --> 00:06:54,760 Or healthy desserts, 129 00:06:54,920 --> 00:06:56,200 you have the best taste? 130 00:06:56,280 --> 00:06:58,120 - I do, absolutely. - That's what we feel, yes. 131 00:06:58,840 --> 00:07:01,040 - How many varieties do you have? - We have 80 SKUs. 132 00:07:01,320 --> 00:07:02,480 What sells the most? 133 00:07:09,040 --> 00:07:10,800 - as compared to other bakeries. - Yes, correct. 134 00:07:10,840 --> 00:07:12,640 How did you accomplish that? 135 00:07:12,720 --> 00:07:15,200 - Normal cakes contain dairy. - Hmm. 136 00:07:15,280 --> 00:07:17,560 - By default, their shelf life decreases. - Okay. 137 00:07:17,640 --> 00:07:18,880 We don't use those ingredients. 138 00:07:18,960 --> 00:07:22,040 - There's a flaw in your label. - Yes? 139 00:07:22,120 --> 00:07:24,480 - Here it says coconut sugar. - Hmm. 140 00:07:24,560 --> 00:07:26,160 - You can't write sugar-free. - Correct. 141 00:07:26,240 --> 00:07:27,840 - Correct. - This is misleading. 142 00:07:28,320 --> 00:07:30,960 That's a misprint actually. It's coconut milk. 143 00:07:31,040 --> 00:07:33,560 All I've given you is stevia. It doesn't contain coconut sugar. 144 00:07:33,640 --> 00:07:36,280 - You're saying this is a misprint. - Yes. 145 00:07:39,720 --> 00:07:43,280 Did you become a nutritionist because you had an interest in this 146 00:07:43,680 --> 00:07:45,400 or was it a forced fit? 147 00:07:45,480 --> 00:07:46,760 Aman, I didn't have an interest. 148 00:07:46,840 --> 00:07:50,040 I didn't know I could make a cake until I started making a cake. 149 00:07:50,640 --> 00:07:52,760 Did you show an interest because your mom was doing it 150 00:07:52,840 --> 00:07:54,160 or were you always interested? 151 00:07:54,320 --> 00:07:56,560 No. When she suggested we make cakes, 152 00:07:56,720 --> 00:07:58,040 then I said, "Okay, let's do it." 153 00:07:58,120 --> 00:08:00,520 - I said I wanted... - So, this is your passion now. 154 00:08:00,720 --> 00:08:02,280 - Yes, it is. - Full time now. 155 00:08:02,400 --> 00:08:04,720 She runs the hot area of baking 156 00:08:04,840 --> 00:08:06,800 and makes the cakes, sponges and cookies. 157 00:08:07,000 --> 00:08:09,400 And the decorative cakes 158 00:08:09,480 --> 00:08:11,200 like cream and chocolate cakes, I do them. 159 00:08:11,280 --> 00:08:12,440 Cheesecakes, canned cakes. 160 00:08:12,560 --> 00:08:15,360 I like this concept of the lid. 161 00:08:15,440 --> 00:08:18,320 - Cool and airtight because of this. - This increased our shelf life. 162 00:08:18,400 --> 00:08:20,160 - What's its shelf life? - 45 days. 163 00:08:20,240 --> 00:08:22,480 What other uses does it have besides shelf life? 164 00:08:22,720 --> 00:08:25,200 We bring about innovations every year 165 00:08:25,280 --> 00:08:26,960 because people get bored very easily. 166 00:08:27,040 --> 00:08:29,800 Our clientele is daily consumers, 167 00:08:29,880 --> 00:08:31,080 - not occasional. - Okay. 168 00:08:31,160 --> 00:08:34,080 Earlier, we were selling only half and one kg cakes on Zomato. 169 00:08:34,280 --> 00:08:35,320 They were selling too, 170 00:08:35,400 --> 00:08:37,120 but from the time we started selling smaller portions, 171 00:08:37,120 --> 00:08:38,600 the sales grew exponentially. 172 00:08:38,760 --> 00:08:41,840 You mentioned that you bake cakes even today. 173 00:08:42,240 --> 00:08:43,080 Yes. 174 00:08:43,160 --> 00:08:45,760 - Have you not scaled to a level... - Yes. 175 00:08:45,920 --> 00:08:48,840 Where you have others make it or oversee the making? 176 00:08:49,040 --> 00:08:50,240 Just explain that to me. 177 00:08:50,960 --> 00:08:53,160 So, we have scaled in the last one year. 178 00:08:53,240 --> 00:08:55,080 - We hired a lot of team members. - Okay. 179 00:08:55,160 --> 00:08:56,880 I don't bake any more at all. 180 00:08:57,680 --> 00:08:59,720 - She's still in the hot area. - I still do, I love doing it. 181 00:08:59,720 --> 00:09:01,360 - That's the reason. - Because she loves doing it. 182 00:09:01,360 --> 00:09:02,840 How many people work for you? 183 00:09:02,920 --> 00:09:04,640 Excluding us, 17 people. 184 00:09:04,720 --> 00:09:06,040 - This is in a factory. - Correct. 185 00:09:06,160 --> 00:09:07,160 Got it. 186 00:09:07,720 --> 00:09:09,560 Simran, tell us about your numbers. 187 00:09:09,640 --> 00:09:11,440 I think I want to get to your numbers. 188 00:09:11,520 --> 00:09:13,960 In the first year, our total sales were Rs. 9 lakhs. 189 00:09:14,120 --> 00:09:14,920 What year is this? 190 00:09:15,000 --> 00:09:16,600 - 2021-22. - Okay. 191 00:09:16,680 --> 00:09:18,440 Then we did Rs. 33 lakhs. 192 00:09:18,520 --> 00:09:20,000 Followed by Rs. 95 lakhs. 193 00:09:20,320 --> 00:09:24,840 And year-to-date, we've done Rs. 1.575 crores. 194 00:09:24,920 --> 00:09:26,400 Is this till September or October? 195 00:09:26,560 --> 00:09:27,360 Till October. 196 00:09:27,480 --> 00:09:29,280 Tell us your profits for 4 years too. 197 00:09:29,360 --> 00:09:32,720 - Our net profit is 39%. - Whoa! 198 00:09:34,280 --> 00:09:35,840 The net profit is 39%! 199 00:09:35,920 --> 00:09:38,240 - We've never spent on marketing. - This year... 200 00:09:38,320 --> 00:09:40,080 Did you make 40% EBITDA this year so far? 201 00:09:40,160 --> 00:09:42,640 - Amen to that! Sorry, Paleoo! - Yes. 202 00:09:43,280 --> 00:09:44,880 - Projected net margin? - Yes? 203 00:09:45,000 --> 00:09:46,800 I think around 40% net. 204 00:09:47,640 --> 00:09:49,320 - December is yet to come. - Yes. 205 00:09:49,400 --> 00:09:52,160 - So, that's a big time for you. - It's season time. 206 00:09:52,240 --> 00:09:55,040 Then there is Valentine's Day which is another huge time for you. 207 00:09:55,120 --> 00:09:56,240 Mother's Day is also coming up. 208 00:09:56,240 --> 00:09:57,600 Then there's mango season also. 209 00:09:57,760 --> 00:09:59,600 Will you do Rs. 4 crores this year? 210 00:09:59,720 --> 00:10:02,240 I don't have an exact number. More than Rs. 3 crores for sure. 211 00:10:02,320 --> 00:10:04,640 And more than Rs. 1 crore will be your PAT! 212 00:10:11,360 --> 00:10:14,400 We took orders on WhatsApp as our Instagram is very strong. 213 00:10:25,360 --> 00:10:28,840 There are many brands, cafes and restaurants that we supply to. 214 00:10:28,920 --> 00:10:30,160 With your branding? 215 00:10:30,400 --> 00:10:31,600 No. Not with my branding, no. 216 00:10:31,680 --> 00:10:32,880 How big is B2B? 217 00:10:33,320 --> 00:10:35,520 My B2B is 14.3%. 218 00:10:35,600 --> 00:10:37,320 My D2C is 55%. 219 00:10:37,400 --> 00:10:40,560 - So, Swiggy and Zomato is actually less than that! - 31%. 220 00:10:40,640 --> 00:10:43,240 Why not quick commerce because that's exploding? 221 00:10:43,680 --> 00:10:44,480 That's the plan. 222 00:10:44,600 --> 00:10:46,840 It has been quite a while since quick commerce boomed. 223 00:10:46,920 --> 00:10:48,080 Why didn't you do it sooner? 224 00:10:48,160 --> 00:10:51,360 Honestly, we got our SOPs and systems in place this year. 225 00:10:51,440 --> 00:10:53,120 Before this, we were working traditionally 226 00:10:53,200 --> 00:10:54,600 as a mother and daughter. 227 00:10:54,680 --> 00:10:56,840 We started working as a company from this year. 228 00:11:00,480 --> 00:11:02,760 I want to make a company now, not run a bakery. 229 00:11:02,840 --> 00:11:03,880 Oh, my! 230 00:11:04,120 --> 00:11:06,800 Why do you want to make a company? What is the key motivation? 231 00:11:06,920 --> 00:11:09,520 Sir, everybody's motivation is money. 232 00:11:09,600 --> 00:11:11,560 Money! How much money do you want to make? 233 00:11:11,640 --> 00:11:12,560 As much as I can! 234 00:11:12,640 --> 00:11:14,480 You must have some figure in mind. 235 00:11:14,560 --> 00:11:16,520 For instance, your projected sale is Rs. 4 crores. 236 00:11:16,600 --> 00:11:17,720 Look, I've come here because 237 00:11:17,800 --> 00:11:19,720 I want to go from Rs. 3 crores to 30 crores 238 00:11:19,800 --> 00:11:21,720 - and from 30 to 300 crores! - Go higher. 239 00:11:21,800 --> 00:11:23,920 You haven't registered your company yet 240 00:11:24,000 --> 00:11:25,200 - as a private limited. - We have. 241 00:11:25,240 --> 00:11:26,320 - Okay. - Not as private limited. 242 00:11:26,360 --> 00:11:27,400 Okay. Why so? 243 00:11:27,640 --> 00:11:29,680 Honestly, I didn't think of raising an investment. 244 00:11:29,760 --> 00:11:32,400 I thought we'd be bootstrapped as is a normal business. 245 00:11:32,560 --> 00:11:35,520 It's just my mom and me. Why divide the equity? 246 00:11:35,640 --> 00:11:37,480 So, we kept it quite simple. 247 00:11:38,040 --> 00:11:39,520 This year, a few months ago... 248 00:11:39,600 --> 00:11:41,320 I have a few mentors 249 00:11:41,400 --> 00:11:43,120 from who I seek business-related advice. 250 00:11:43,240 --> 00:11:46,040 They told me to scale it which is my vision too. 251 00:11:46,120 --> 00:11:49,160 So, we've decided to make it private limited. 252 00:11:49,840 --> 00:11:52,520 Do you have anyone in the family running a family business? 253 00:11:52,600 --> 00:11:54,560 - Mom's dad... - My dad does business. 254 00:11:54,640 --> 00:11:55,520 He's a businessman. 255 00:11:55,640 --> 00:11:57,200 - Okay. - A proper businessman. 256 00:11:57,280 --> 00:11:58,600 - So, this... - Define proper. 257 00:11:58,880 --> 00:11:59,960 - So, he... - In the sense, 258 00:12:00,040 --> 00:12:02,360 he was into finance and tyres and all that. 259 00:12:02,440 --> 00:12:04,720 He says, "No matter what you do, make money." 260 00:12:04,800 --> 00:12:07,240 - Yes. - And she inherited that quality. 261 00:12:08,160 --> 00:12:09,160 What's your vision? 262 00:12:09,200 --> 00:12:11,240 - Where do you want to be? - To become Theobroma 263 00:12:11,320 --> 00:12:12,600 but of the sugar-free world. 264 00:12:12,840 --> 00:12:14,160 How will you achieve that? 265 00:12:14,240 --> 00:12:16,160 I have only one cloud kitchen in Mumbai 266 00:12:24,200 --> 00:12:26,480 business would obviously grow. 267 00:12:26,560 --> 00:12:28,360 Another thing about Theobroma was 268 00:12:28,440 --> 00:12:30,280 that they were visible retail stores. 269 00:12:30,400 --> 00:12:33,120 - That gave higher visibility and built the brand. - Correct. 270 00:12:37,560 --> 00:12:40,040 Sharks, see. I wanted to start a cafe in the beginning 271 00:12:40,160 --> 00:12:41,400 for brand visibility. 272 00:12:41,480 --> 00:12:42,360 Like I said, 273 00:12:42,440 --> 00:12:44,800 I have come here for the expertise more than the money. 274 00:12:44,960 --> 00:12:46,440 So, I don't want to open retail stores 275 00:12:46,480 --> 00:12:48,200 and fall flat on my face. 276 00:12:48,320 --> 00:12:51,080 - For me to be profitable is very important. - Got it. 277 00:12:54,480 --> 00:12:56,920 If you have ambitions and you feel you can... 278 00:12:57,040 --> 00:13:00,080 You feel like you can make Rs. 300 crores. 279 00:13:00,160 --> 00:13:02,120 You could have done it by now. 280 00:13:02,200 --> 00:13:04,800 I feel you didn't need to wait until you came on Shark Tank. 281 00:13:05,520 --> 00:13:07,240 Honestly, I have a science background. 282 00:13:07,320 --> 00:13:10,800 It's this year I got to know what SOPs are, very honestly speaking. 283 00:13:10,960 --> 00:13:13,120 And I implemented them as soon as I found out. 284 00:13:13,240 --> 00:13:15,000 That's why there's a difference in the sales. 285 00:13:15,240 --> 00:13:18,000 We're doing everything we can to become a proper company. 286 00:13:18,120 --> 00:13:19,320 Now, we need your help. 287 00:13:20,760 --> 00:13:22,880 - Can we see your Instagram? - Sure. 288 00:13:22,960 --> 00:13:25,080 Without any marketing, 289 00:13:25,240 --> 00:13:27,480 - business... - A marketing team came on board, Vineeta, 290 00:13:27,560 --> 00:13:29,000 - since the last two months. - Okay. 291 00:13:29,080 --> 00:13:30,960 - Nothing before that. - Yes, nothing. 292 00:13:31,040 --> 00:13:32,160 - Okay, show us. - Yes. 293 00:13:32,320 --> 00:13:34,080 I'll show you this canned cake video. 294 00:13:34,520 --> 00:13:37,160 It went a little viral and it was... 295 00:13:37,240 --> 00:13:38,800 [upbeat music playing] 296 00:13:40,120 --> 00:13:41,360 We've shown the sealing here 297 00:13:41,440 --> 00:13:44,200 and tempted people a little with the video. 298 00:13:44,840 --> 00:13:46,680 These are our five flavours. 299 00:13:46,760 --> 00:13:49,600 One of our reels went viral too 300 00:13:49,760 --> 00:13:51,440 in which Shilpa Shetty and Badshah 301 00:13:51,640 --> 00:13:54,160 were talking about a Paleoo cake on 'The Kapil Sharma Show'. 302 00:13:54,240 --> 00:13:56,120 - Oh, really! - Luckily, that even aired! 303 00:13:56,240 --> 00:13:57,040 Show us. 304 00:13:57,120 --> 00:14:00,000 'Why do you eat it every day? What's special about it?' 305 00:14:00,080 --> 00:14:01,520 'Why don't we eat it?' 306 00:14:02,200 --> 00:14:03,280 'Why didn't it occur to us?' 307 00:14:03,320 --> 00:14:06,520 'You're too busy eating other things like Paleoo!' 308 00:14:06,800 --> 00:14:08,120 'And Paleoo cakes!' 309 00:14:08,200 --> 00:14:10,440 [music playing] 310 00:14:14,720 --> 00:14:15,920 [music concludes] 311 00:14:16,960 --> 00:14:18,360 - Nice. - How many views did it get? 312 00:14:18,520 --> 00:14:19,440 I don't remember. 313 00:14:19,520 --> 00:14:21,520 I think approximately 15,000. 314 00:14:21,720 --> 00:14:24,720 - You don't have many followers. Barely 20,000. - Yes. 315 00:14:24,840 --> 00:14:26,080 They're all organic 316 00:14:26,160 --> 00:14:28,280 and we get a lot of orders from them. 317 00:14:28,480 --> 00:14:30,920 The main point is I've got a high ROI from this. 318 00:14:31,000 --> 00:14:32,600 Do you spend on marketing now? 319 00:14:32,680 --> 00:14:34,920 - We just started. - Rs. 1 lakh a month since the last... 320 00:14:35,000 --> 00:14:36,040 - This is our third month. - Third. 321 00:14:36,080 --> 00:14:38,280 - Where do you spend it? - Performance, ads, Instagram. 322 00:14:38,360 --> 00:14:39,720 - Through Instagram? - Yes. 323 00:14:39,800 --> 00:14:41,440 - Do you draw salaries? - No. 324 00:14:41,720 --> 00:14:43,720 - Okay, you make so much profit. - [laughs] 325 00:14:43,840 --> 00:14:45,600 But your next... After this... 326 00:14:45,680 --> 00:14:47,040 [laughter] 327 00:14:47,280 --> 00:14:50,080 After you, who gets the highest salary? 328 00:14:50,160 --> 00:14:53,680 - The main is a head baker who we pay Rs. 27,000. - Okay. 329 00:14:53,760 --> 00:14:56,560 So, that explains your profit. 330 00:14:57,160 --> 00:14:58,760 When you mentioned... 331 00:14:58,880 --> 00:15:00,960 You know? When we spoke about salaries for you, 332 00:15:01,080 --> 00:15:03,280 you said Rs. 1 crore was yours, right? 333 00:15:03,640 --> 00:15:06,280 Then I asked you how much you pay in salaries, 334 00:15:06,400 --> 00:15:08,240 and you said Rs. 27,000. 335 00:15:08,440 --> 00:15:11,360 And you envision to make this a big company. 336 00:15:11,440 --> 00:15:13,320 Somewhere down the line, 337 00:15:13,600 --> 00:15:16,200 you'll have to change your perspective on the management. 338 00:15:16,920 --> 00:15:18,760 If you bring in investors, 339 00:15:18,840 --> 00:15:22,240 - the type of people who will work with you will change. - Yes. 340 00:15:22,320 --> 00:15:25,520 Are you ready to pay people Rs. 1 lakh or 3 lakhs a month? 341 00:15:25,600 --> 00:15:26,760 We're absolutely ready. 342 00:15:26,840 --> 00:15:29,160 - As I said, spending Rs. 1 lakh on marketing... - Control... 343 00:15:29,240 --> 00:15:30,600 - Was a big deal for me. - Okay. 344 00:15:30,680 --> 00:15:31,680 But we're doing it now. 345 00:15:31,720 --> 00:15:32,720 What's your pricing? 346 00:15:43,280 --> 00:15:45,160 - Theobroma cakes cost Rs. 800 to 900. - Okay. 347 00:15:45,240 --> 00:15:46,680 Then you have Deliciae and a lot... 348 00:15:46,760 --> 00:15:47,960 - Bunty Mahajan. - Correct. 349 00:15:48,080 --> 00:15:50,040 They go up to Rs. 1,00 and 1,300. 350 00:15:50,120 --> 00:15:52,120 What about the other products? The jar cakes for instance. 351 00:15:52,160 --> 00:15:53,320 We sell them for Rs. 500. 352 00:15:53,400 --> 00:15:55,520 Isn't that fiercely expensive? 353 00:15:55,720 --> 00:15:57,600 - No, it's fine... - I feel it's good quantity for it. 354 00:15:57,640 --> 00:15:59,680 - Good quantity. Enough for two. - Two people can easily eat. 355 00:15:59,720 --> 00:16:02,040 When you try to scale out of Mumbai, 356 00:16:02,120 --> 00:16:04,920 how will you maintain these price points? 357 00:16:05,480 --> 00:16:08,240 Once we go to the wholesale vendors, 358 00:16:08,400 --> 00:16:10,360 - automatically, our prices will fall. - No! 359 00:16:10,440 --> 00:16:13,160 - We can lower our prices. - You still cannot... No. 360 00:16:18,480 --> 00:16:19,800 My question is very direct. 361 00:16:19,880 --> 00:16:23,240 If you have to bring your PAT to 15% to touch Rs. 300 crores, 362 00:16:23,320 --> 00:16:26,120 - will you be willing to do it? - Of course... 363 00:16:26,200 --> 00:16:28,280 It is possible to have a Rs. 50-crore business 364 00:16:28,360 --> 00:16:29,600 - with a higher PAT percentage. - Yes. 365 00:16:29,640 --> 00:16:31,000 - Of course. - Yes, absolutely. 366 00:16:31,080 --> 00:16:32,720 It doesn't seem so from your responses. 367 00:16:33,800 --> 00:16:34,640 That's not true. 368 00:16:34,720 --> 00:16:36,480 We are ready to lower our price points. 369 00:16:36,560 --> 00:16:39,160 As I said, we hadn't explored this business until now. 370 00:16:39,240 --> 00:16:41,240 That's why we need your expertise. 371 00:16:41,320 --> 00:16:43,760 We still don't know how to run a company properly 372 00:16:43,840 --> 00:16:44,840 in all honesty. 373 00:16:44,920 --> 00:16:46,400 We're learning it on the go. 374 00:16:46,960 --> 00:16:47,960 I'll tell you what. 375 00:16:48,040 --> 00:16:50,280 You have a vision to make it a company, 376 00:16:50,600 --> 00:16:52,640 but you don't seem to be moving in that direction. 377 00:16:53,280 --> 00:16:56,680 Then you don't have a good team to guide you 378 00:16:56,760 --> 00:16:58,000 or a business strategist. 379 00:16:59,200 --> 00:17:01,560 Something on the business end... 380 00:17:01,840 --> 00:17:03,520 Um... Is missing. 381 00:17:04,200 --> 00:17:06,120 I think you know how to do business. 382 00:17:06,320 --> 00:17:08,600 You cannot do a business of Rs. 1.5 crores, 383 00:17:08,920 --> 00:17:11,080 - or going to Rs. 4 crores this year... - Hmm. 384 00:17:11,200 --> 00:17:13,680 With Rs. 2 crores of profit without understanding the business. 385 00:17:13,800 --> 00:17:14,600 Yes. 386 00:17:14,680 --> 00:17:17,560 What you don't know until now, because you haven't done it... 387 00:17:17,640 --> 00:17:18,720 - Correct. - Is to scale up. 388 00:17:18,760 --> 00:17:19,840 - Right. - Yes. 389 00:17:19,960 --> 00:17:21,560 - That's a different journey. - Correct. 390 00:17:21,640 --> 00:17:22,960 You'll need help with that. 391 00:17:23,480 --> 00:17:24,400 Okay, look. 392 00:17:24,480 --> 00:17:26,640 For anyone to gauge 393 00:17:26,720 --> 00:17:29,120 if you'll be able to do that trade-off is difficult 394 00:17:29,200 --> 00:17:31,360 - because this is your first business. - Correct. 395 00:17:31,440 --> 00:17:32,640 You've been successful so far. 396 00:17:32,720 --> 00:17:34,440 If a founder hasn't tasted failure, 397 00:17:34,520 --> 00:17:37,160 for an investor to gauge in the middle of a failure 398 00:17:37,280 --> 00:17:39,240 - how you'd react, is impossible. - Hmm. 399 00:17:39,600 --> 00:17:42,520 - Your product is fantastic. - Hmm. 400 00:17:42,600 --> 00:17:44,280 - Thank you so much. - You say you didn't invest in marketing, 401 00:17:44,320 --> 00:17:47,360 but you've done something for the awareness to happen. 402 00:17:47,440 --> 00:17:50,480 - Celebrities are organically promoting you. - Yes. 403 00:17:50,600 --> 00:17:54,600 - So for that reason, Anupam and I will make you an offer. - Okay. 404 00:17:54,880 --> 00:17:55,880 Okay. 405 00:17:56,640 --> 00:17:58,120 Here's our offer. 406 00:17:58,200 --> 00:18:00,400 - Rs. 1 crore for 10% equity... - Okay. 407 00:18:00,520 --> 00:18:02,320 Which is a valuation of Rs. 10 crores 408 00:18:02,400 --> 00:18:06,480 plus 1% royalty till we recover one time our investment. 409 00:18:15,000 --> 00:18:16,160 And that is always... 410 00:18:16,240 --> 00:18:18,920 It makes work fun and you're open to learning. 411 00:18:19,000 --> 00:18:20,160 So, I'll make you an offer. 412 00:18:21,720 --> 00:18:25,440 I'll offer you Rs. 1 crore for 10% equity 413 00:18:25,680 --> 00:18:28,600 and same, 1% royalty till I get my money back. 414 00:18:38,280 --> 00:18:39,680 - you'll scale. - Okay. 415 00:18:39,840 --> 00:18:42,440 It takes a certain business acumen 416 00:18:42,560 --> 00:18:45,520 - not just to scale but to give an investor an exit. - Right. 417 00:18:45,600 --> 00:18:47,560 As for what you said, the taste is good no doubt, 418 00:18:47,640 --> 00:18:50,040 but it's still easy to copy. 419 00:18:50,800 --> 00:18:52,360 So, for that reason, I'm out. 420 00:18:52,480 --> 00:18:53,800 Okay, thank you. 421 00:18:55,480 --> 00:18:57,640 Simran! Tina! It was lovely to meet you. 422 00:18:57,720 --> 00:19:00,040 - Thank you so much. - I found your cakes tasty. 423 00:19:00,160 --> 00:19:03,000 I think you're earning well. 424 00:19:03,360 --> 00:19:05,280 I think the movement towards a company, 425 00:19:05,360 --> 00:19:07,760 growth verticals, 426 00:19:07,840 --> 00:19:11,560 quick commerce, more cloud kitchens 427 00:19:11,880 --> 00:19:14,120 and team building... 428 00:19:14,240 --> 00:19:16,880 - All that has to be done and proven, right? - Yes. 429 00:19:16,960 --> 00:19:20,920 Unfortunately, since none of that's proven yet, 430 00:19:21,680 --> 00:19:24,560 - except the fact that you have a great product... - Hmm. 431 00:19:24,840 --> 00:19:29,240 So, you have offers from two Sharks. Learn the traits from them. 432 00:19:29,360 --> 00:19:31,480 When you need a real Shark, I'll come on board. 433 00:19:31,560 --> 00:19:33,040 - I'm out for now. - Oh! 434 00:19:35,240 --> 00:19:37,600 - Simran and Tina, you have two offers. - Yes. 435 00:19:37,680 --> 00:19:39,360 - They're pretty much the same offers. - Correct. 436 00:19:39,400 --> 00:19:40,760 Can we have one counteroffer? 437 00:19:40,840 --> 00:19:42,600 - Oh my God! - Oh, my! 438 00:19:44,280 --> 00:19:46,080 We just want to cancel out the royalty. 439 00:19:49,840 --> 00:19:53,080 I'm okay with Rs. 1 crore for 10%. You've to say yes now. 440 00:19:54,000 --> 00:19:54,920 Tell us... 441 00:19:55,000 --> 00:19:56,400 - We have to discuss. - Hang on, wait. 442 00:19:56,440 --> 00:19:58,400 You've to say yes now, otherwise I'm out. 443 00:19:59,720 --> 00:20:00,840 Yes, what do you want to do? 444 00:20:01,160 --> 00:20:03,480 Simran, have you decided who you want as a partner? 445 00:20:03,560 --> 00:20:05,360 - If you want them as a partner, I'm out. - We want you all. 446 00:20:05,400 --> 00:20:06,800 It doesn't make sense for me to stay. 447 00:20:06,840 --> 00:20:08,920 It takes us two minutes to process. 448 00:20:09,000 --> 00:20:10,360 If two people are making an offer, 449 00:20:10,440 --> 00:20:11,720 - those two people need... - No. 450 00:20:11,800 --> 00:20:14,560 - They need two minutes to arrive at a decision! - No, I... 451 00:20:14,680 --> 00:20:17,040 - Ooh! It's getting hot in here. - Ooh! No! 452 00:20:17,160 --> 00:20:18,960 - "It's getting hot in here." - It's getting hot... 453 00:20:18,960 --> 00:20:20,320 - "Come, get..." - [laughs] 454 00:20:20,400 --> 00:20:22,720 - He's singing! - [Namita humming] 455 00:20:22,920 --> 00:20:25,560 Shark fight! 456 00:20:26,000 --> 00:20:27,480 [tense music playing] 457 00:20:28,320 --> 00:20:30,120 Simran, I am out. 458 00:20:31,360 --> 00:20:32,920 You don't want somebody so pushy. 459 00:20:33,000 --> 00:20:34,120 Exactly! And two... 460 00:20:34,240 --> 00:20:36,280 I'm out. Now, you can take the royalty. 461 00:20:36,360 --> 00:20:38,200 - Okay, let me... Let me explain. - Oh, God! 462 00:20:39,040 --> 00:20:41,560 Firstly, you get two brand ambassadors free. 463 00:20:42,120 --> 00:20:44,760 If you want, we can make it 9%. 464 00:20:50,960 --> 00:20:52,760 She said 9%. I wouldn't have budged. 465 00:20:52,840 --> 00:20:54,200 It's the only deal on the table. 466 00:20:54,520 --> 00:20:55,960 Don't walk away from it. 467 00:20:56,640 --> 00:20:58,000 [tense music playing] 468 00:21:02,000 --> 00:21:03,320 [music peaks and fades out] 469 00:21:03,760 --> 00:21:05,440 - Okay, Sharks. Deal's closed. - All right. 470 00:21:10,880 --> 00:21:12,080 [music playing] 471 00:21:14,480 --> 00:21:17,840 Now, cakes for breakfast, lunch and dinner! 472 00:21:17,920 --> 00:21:18,960 [camera shutter clicking] 473 00:21:28,960 --> 00:21:30,240 - Thank you. - Sharks, thank you so much. 474 00:21:30,240 --> 00:21:32,280 - Thanks for having us here. Thank you. - Thank you. 475 00:21:33,800 --> 00:21:35,200 'It'd have been great if Peyush's offer was there too.' 476 00:21:35,240 --> 00:21:36,440 'I could have made the deal with Peyush.' 477 00:21:36,480 --> 00:21:38,560 Now, I've to pay a royalty because he backed out. 478 00:21:39,000 --> 00:21:43,120 But I think it was a good experience all in all, yes. 479 00:21:43,360 --> 00:21:45,440 Simran and Tina, welcome. 480 00:21:45,520 --> 00:21:46,880 Firstly, congratulations. 481 00:21:50,800 --> 00:21:51,800 Honestly, we wanted them. 482 00:21:51,920 --> 00:21:53,720 - We got what we hoped for. - Amazing. 483 00:21:53,800 --> 00:21:56,120 God was merciful today. 484 00:21:56,240 --> 00:21:58,800 No congratulatory cake or pastry? 485 00:21:58,920 --> 00:22:00,360 Yes, there's loads! 486 00:22:00,480 --> 00:22:01,960 - Will you give me some? - Yes. 487 00:22:02,040 --> 00:22:03,640 But you've come at the perfect time. 488 00:22:03,720 --> 00:22:06,280 Today's the birthday of one of 489 00:22:06,440 --> 00:22:08,680 - the assistant writers on the set. - Oh, wow! 490 00:22:08,840 --> 00:22:10,800 Which everybody very conveniently forgot! 491 00:22:10,920 --> 00:22:12,560 So, you have come to the rescue. 492 00:22:12,760 --> 00:22:14,760 - What's your bestseller? - Flourless Cake. 493 00:22:14,880 --> 00:22:16,120 - That's the one I love? - Yes. 494 00:22:16,240 --> 00:22:17,480 Okay. So, we're going to use that. 495 00:22:17,520 --> 00:22:19,760 - Nobody's going to tell him we didn't order one. - Done. 496 00:22:19,880 --> 00:22:22,400 I did order essential goodies from Swiggy Instamart 497 00:22:22,480 --> 00:22:25,280 - like candles, party hats, poppers and others. - Okay. 498 00:22:25,360 --> 00:22:26,440 That arrived in 10 minutes. 499 00:22:27,720 --> 00:22:29,000 So, we have this. Thank you. 500 00:22:29,080 --> 00:22:30,080 We have this to the rescue. 501 00:22:30,120 --> 00:22:32,160 - We have you to the rescue. - Oh, yes. 502 00:22:32,280 --> 00:22:34,240 And congratulations altogether. 503 00:22:34,320 --> 00:22:36,960 - Thank you. - There will be many celebrations on Shark Tank. 504 00:22:37,080 --> 00:22:39,920 - And we'll be having your desserts. - Of course. 505 00:22:40,040 --> 00:22:40,920 Which is brilliant. 506 00:22:41,000 --> 00:22:43,080 Guys, if you want to celebrate anything, 507 00:22:43,200 --> 00:22:44,480 go to Swiggy Instamart. 508 00:22:44,560 --> 00:22:47,920 You name it, they will deliver it in 10 minutes. Order now. 509 00:23:03,400 --> 00:23:05,080 [theme music playing] 510 00:23:26,440 --> 00:23:27,920 [theme music concludes] 511 00:23:33,800 --> 00:23:35,280 Sharks, imagine... 512 00:23:35,440 --> 00:23:37,640 - Aman, hi. - Hi! Sorry. 513 00:23:37,800 --> 00:23:39,440 [laughter] 514 00:23:39,640 --> 00:23:40,640 Good one! 515 00:23:41,280 --> 00:23:42,280 Sorry, yes. 516 00:23:42,640 --> 00:23:44,160 You got schooled! 517 00:23:45,480 --> 00:23:49,200 Imagine, Aman, you're on a date and she brought a friend along. 518 00:23:49,600 --> 00:23:51,640 You gaze into her eyes 519 00:23:51,720 --> 00:23:55,600 and with all you've got, say some impressive lines, 520 00:23:55,920 --> 00:23:58,360 but her friend ends up getting impressed. 521 00:23:58,440 --> 00:23:59,760 [laughs] 522 00:24:00,320 --> 00:24:02,360 Well, you were trying to look at your crush 523 00:24:02,520 --> 00:24:04,680 but your eyes were looking at her friend. 524 00:24:04,760 --> 00:24:06,120 What are you saying, brother? 525 00:24:06,200 --> 00:24:09,000 Do you mean, looking at the moon and literally aiming for the stars? 526 00:24:09,080 --> 00:24:10,160 - Exactly! - Bullseye! 527 00:24:10,280 --> 00:24:11,520 - Whoa! - [laughs] 528 00:24:12,400 --> 00:24:13,400 Funny, right? 529 00:24:13,680 --> 00:24:16,800 But guess what, Sharks? This has been my life's reality. 530 00:24:17,520 --> 00:24:20,400 I've suffered from a condition called amblyopia since childhood. 531 00:24:28,960 --> 00:24:31,200 While growing up, 532 00:24:31,320 --> 00:24:33,560 your confidence takes a real hit 533 00:24:33,640 --> 00:24:35,160 and you get bullied often 534 00:24:35,360 --> 00:24:40,520 - thereby preventing you from being positive. - Hmm. 535 00:24:40,680 --> 00:24:42,880 Sharks, I'm an optometrist and researcher. 536 00:24:50,640 --> 00:24:54,880 Over time, the brain starts relying on the stronger eye. 537 00:24:55,400 --> 00:24:56,640 Despite wearing glasses, 538 00:24:56,720 --> 00:24:59,800 these children and adults suffer from poor vision 539 00:24:59,880 --> 00:25:02,320 which affects their studies and playtime 540 00:25:02,400 --> 00:25:04,800 leading to a low quality of life overall. 541 00:25:05,120 --> 00:25:07,360 Sharks, one out of every hundred people 542 00:25:07,440 --> 00:25:09,240 - need vision therapy today. - Hmm. 543 00:25:09,320 --> 00:25:12,240 A seven-year-old girl in my clinic 544 00:25:12,400 --> 00:25:15,640 could have lost her vision due to this condition. 545 00:25:16,560 --> 00:25:19,920 So, as a researcher, I decided to do something about it. 546 00:25:20,200 --> 00:25:23,280 After much research and with the help of virtual reality technology, 547 00:25:30,000 --> 00:25:31,200 NeuraSim's BeeVee 548 00:25:31,600 --> 00:25:36,480 is India's first and only such virtual reality wearable device. 549 00:25:36,600 --> 00:25:39,080 It is engaging on account of being gamified, 550 00:25:39,280 --> 00:25:42,320 but at the same time, because of being in a VR-based environment, 551 00:25:42,360 --> 00:25:43,360 is immersive too. 552 00:25:54,880 --> 00:25:57,600 different inputs, training as well as exercises. 553 00:25:57,680 --> 00:25:59,440 Doing these exercises daily 554 00:25:59,760 --> 00:26:02,640 can bring improvement in both kids and adults alike. 555 00:26:02,760 --> 00:26:05,160 They can even do it from the comfort of their homes. 556 00:26:05,560 --> 00:26:08,640 Sharks, with the help of our BeeVee technology, 557 00:26:08,760 --> 00:26:12,320 we can administer controlled therapy to a child. 558 00:26:12,480 --> 00:26:14,600 I've tried this therapy on myself too. 559 00:26:14,720 --> 00:26:19,120 I saw a drastic improvement in eye control within 24 days. 560 00:26:19,240 --> 00:26:21,560 We've improved the lives 561 00:26:21,640 --> 00:26:24,800 of more than 800 children and adults to date. 562 00:26:25,160 --> 00:26:27,280 Sharks, today, we are pre-revenue. 563 00:26:27,520 --> 00:26:29,600 We believe we can revolutionise eye care 564 00:26:29,680 --> 00:26:31,920 with the help of technology. 565 00:26:32,400 --> 00:26:35,440 Sharks, our ask is Rs. 1 crore for 8% equity. 566 00:26:42,640 --> 00:26:43,640 Thank you, Sharks. 567 00:26:53,600 --> 00:26:55,560 solving a very specific problem. 568 00:26:55,680 --> 00:26:57,920 So, tell us more. How did you decide? 569 00:26:58,240 --> 00:27:00,080 And how did you all meet and start this? 570 00:27:00,160 --> 00:27:01,560 I'm a clinician scientist. 571 00:27:04,920 --> 00:27:08,840 where I was researching about what causes blindness. 572 00:27:09,000 --> 00:27:11,760 I researched on glaucoma for 10 years. 573 00:27:20,120 --> 00:27:21,840 and I became a professor and head. 574 00:27:22,280 --> 00:27:24,920 At that time, as a public health person, I felt 575 00:27:25,040 --> 00:27:27,600 that technology was a means to take it to the larger people, right? 576 00:27:27,640 --> 00:27:30,200 So, I applied for all the grants 577 00:27:30,320 --> 00:27:32,680 and I got an Indo-European grant. 578 00:27:33,080 --> 00:27:35,200 We collaborated with a Polish partner. 579 00:27:35,320 --> 00:27:37,840 After I finished the project, the product was almost ready. 580 00:27:37,960 --> 00:27:40,600 We developed it in one hardware. 581 00:27:40,880 --> 00:27:43,560 Then to come to the Indian market, we needed to be very agile. 582 00:27:43,640 --> 00:27:45,520 I didn't have a background in business. 583 00:27:45,640 --> 00:27:49,440 That's when I met my co-founder Pradeep Walia, who is in the US now, 584 00:27:56,200 --> 00:27:57,680 How did you meet Girish? 585 00:27:57,760 --> 00:28:00,600 I spent almost 16 years in the pharmaceutical industry. 586 00:28:01,040 --> 00:28:01,920 - And... - Which company? 587 00:28:02,000 --> 00:28:03,960 I've worked with companies like Cipla, Torrent, 588 00:28:04,440 --> 00:28:06,400 and Nicholas Piramal which later became Abbott Healthcare. 589 00:28:06,440 --> 00:28:09,560 I largely handled the CNS portfolio in these companies. 590 00:28:10,240 --> 00:28:13,640 So, Girish comes from a good sales and execution background. 591 00:28:14,080 --> 00:28:17,160 I needed their help and I was talking to them. 592 00:28:17,360 --> 00:28:19,800 "The product I developed using the grant..." 593 00:28:19,960 --> 00:28:21,440 It was more than a Rs. 10-crore grant. 594 00:28:21,440 --> 00:28:23,560 It was a grant of 1 million euros. 595 00:28:29,920 --> 00:28:32,280 - Did you receive a grant for this? - Yes. 596 00:28:32,600 --> 00:28:34,480 My question is specifically to Avi. 597 00:28:34,560 --> 00:28:36,440 I want to understand, 598 00:28:36,760 --> 00:28:41,600 what percentage of Indians suffer from amblyopia? 599 00:28:41,880 --> 00:28:45,720 Secondly, how does it affect their day-to-day life? 600 00:28:45,800 --> 00:28:47,840 Before... Please answer her questions, 601 00:28:47,960 --> 00:28:50,640 but give us a quick background about yourself as well. 602 00:28:50,720 --> 00:28:52,320 Are you the co-founder? 603 00:28:52,560 --> 00:28:53,680 He's the CTO. 604 00:28:53,840 --> 00:28:54,920 - CTO. - Yes. 605 00:28:55,000 --> 00:28:57,000 And you're both co-founders with Pradeep. 606 00:28:57,200 --> 00:28:58,320 - Yes, ma'am. - Okay. 607 00:28:58,440 --> 00:29:01,560 In 2013, I completed my BCA. 608 00:29:01,680 --> 00:29:02,760 For the last 12 years, 609 00:29:02,840 --> 00:29:05,520 I've been working on virtual reality and augmented reality products, 610 00:29:05,560 --> 00:29:07,240 especially in the healthcare domain. 611 00:29:07,360 --> 00:29:08,360 Got it. 612 00:29:08,520 --> 00:29:11,040 So, the condition amblyopia 613 00:29:11,280 --> 00:29:15,600 - starts with one eye being weaker than the other. - Hmm. 614 00:29:15,800 --> 00:29:17,560 Gradually, the condition worsens. 615 00:29:17,640 --> 00:29:19,040 It's a neurodevelopmental disorder. 616 00:29:19,120 --> 00:29:21,360 As your vision weakens over time, 617 00:29:21,440 --> 00:29:25,200 your brain starts ignoring the affected eye. 618 00:29:25,560 --> 00:29:28,320 The brain always relies on receiving the correct signal. 619 00:29:28,400 --> 00:29:30,400 You're not getting stereo vision from one eye. 620 00:29:30,480 --> 00:29:31,680 The weak eye is ignored. 621 00:29:31,760 --> 00:29:33,800 So, you have difficulty in guessing the depth. 622 00:29:33,880 --> 00:29:35,600 You find it hard to walk in the dark. 623 00:29:35,760 --> 00:29:37,280 At times, when I'm walking, 624 00:29:37,360 --> 00:29:39,520 my chances of hitting a wall are higher. 625 00:29:39,600 --> 00:29:41,240 I become clumsy at many things. 626 00:29:42,120 --> 00:29:43,520 So, that's all there. 627 00:29:43,600 --> 00:29:46,640 And, of course, what's visibly clear to people 628 00:29:46,760 --> 00:29:48,360 is that one eye is looking somewhere else. 629 00:29:48,360 --> 00:29:50,160 What percentage of Indians suffer from it? 630 00:29:50,280 --> 00:29:52,240 About 1% Indians. 631 00:29:52,680 --> 00:29:55,840 So, about 1.5 crore children as well as adults. 632 00:29:55,960 --> 00:29:58,560 Studies so far prove it is very much curable in kids. 633 00:29:58,680 --> 00:30:01,280 We are conducting further studies for adults. 634 00:30:01,480 --> 00:30:04,440 I too am participating in that study for adults. 635 00:30:05,080 --> 00:30:06,120 Help me understand one thing. 636 00:30:06,160 --> 00:30:10,280 What cure does the doctor give the kids who suffer from amblyopia? 637 00:30:10,400 --> 00:30:12,680 Is there a particular medicine, exercise or therapy? 638 00:30:12,840 --> 00:30:15,640 The primary thing we do is prescribe a good pair of glasses. 639 00:30:16,240 --> 00:30:19,560 After they adapt to the numbered glasses, 640 00:30:19,760 --> 00:30:21,800 the first thing we do is patching. 641 00:30:21,880 --> 00:30:23,640 That's the most commonly affordable treatment. 642 00:30:23,640 --> 00:30:28,080 This treatment has to be continued for almost 6 to 7 months 643 00:30:28,160 --> 00:30:30,160 - to improve their vision. - Hmm. 644 00:30:30,240 --> 00:30:31,760 That improves just the vision, 645 00:30:32,000 --> 00:30:35,360 but not the rest like stereopsis and contrast sensitivity. 646 00:30:35,440 --> 00:30:38,240 Where virtual reality plays a role is 647 00:30:38,320 --> 00:30:40,600 in difficult cases like strabismus. 648 00:30:40,680 --> 00:30:43,880 Those conditions show drastic improvement. 649 00:30:44,160 --> 00:30:46,440 Peyush, could you come here 650 00:30:46,560 --> 00:30:49,240 and experience the beautiful VR therapy that we've developed? 651 00:30:49,360 --> 00:30:50,960 [music playing] 652 00:30:55,960 --> 00:30:57,400 - This... - This is our controller. 653 00:30:57,480 --> 00:30:59,240 This is the trigger button. 654 00:31:03,240 --> 00:31:04,560 What Peyush sees inside 655 00:31:04,640 --> 00:31:07,720 is something we'll be able to see on this 2D screen. 656 00:31:07,800 --> 00:31:08,800 Got it. 657 00:31:08,880 --> 00:31:10,080 Now, what we will do is this. 658 00:31:10,160 --> 00:31:13,240 When Peyush presses the trigger, we'll know 659 00:31:13,320 --> 00:31:16,960 how the vision in his right eye deteriorates over a period of time. 660 00:31:17,040 --> 00:31:21,280 For a child with amblyopia, it happens over a few years 661 00:31:21,640 --> 00:31:25,200 but they start to think this is their normal vision. 662 00:31:25,320 --> 00:31:27,480 By the time a child with amblyopia goes to a doctor, 663 00:31:27,600 --> 00:31:29,320 they're already too late. 664 00:31:29,600 --> 00:31:32,040 So, Peyush, can I request you to press the trigger, please? 665 00:31:32,160 --> 00:31:33,880 You'll notice the vision gradually deteriorating 666 00:31:33,920 --> 00:31:35,440 in the right eye. 667 00:31:37,680 --> 00:31:38,680 So, it's blurry. 668 00:31:38,840 --> 00:31:39,840 Yes, it's blurring. 669 00:31:39,920 --> 00:31:42,840 Over a period of time, the blurring gradually increases. 670 00:31:42,920 --> 00:31:44,160 - It's also getting dark. - And the child 671 00:31:44,200 --> 00:31:45,320 keeps adapting to it. 672 00:31:45,440 --> 00:31:47,840 When that child goes to a doctor, this is what the latter does. 673 00:31:47,840 --> 00:31:51,200 We'll see the child's vision after patching their stronger eye 674 00:31:51,280 --> 00:31:52,280 and what the child feels. 675 00:31:52,360 --> 00:31:54,240 - You affix a patch on the left eye. - Correct. 676 00:31:54,320 --> 00:31:55,560 - Patch it. - By covering it 677 00:31:55,680 --> 00:31:57,240 and that's when improvement is seen in the right eye. 678 00:31:57,280 --> 00:31:58,320 It improves gradually. 679 00:31:58,400 --> 00:32:01,040 - You've tried to show that in a compact timeline. - Correct. 680 00:32:01,160 --> 00:32:03,920 We will look at BeeVee's demo. 681 00:32:04,080 --> 00:32:06,080 We have 9 different cold therapies, 682 00:32:06,200 --> 00:32:08,320 which together create 76 permutations. 683 00:32:08,400 --> 00:32:11,360 Out of those, we will explore 3 permutations and therapies here, 684 00:32:11,440 --> 00:32:14,880 which will give you a taste of what the entire therapy looks like. 685 00:32:15,000 --> 00:32:18,640 Peyush, in the first game, a snowman is throwing an ice ball at you. 686 00:32:18,760 --> 00:32:22,320 You have to move your head and make the ball bounce. 687 00:32:22,560 --> 00:32:27,080 Gradually, you notice that your left eye is becoming blurred. 688 00:32:27,200 --> 00:32:29,680 The child is fully engrossed in the game because it's so immersive. 689 00:32:29,720 --> 00:32:32,560 As a result, they naturally start focusing more on their right eye, 690 00:32:32,640 --> 00:32:34,920 driven by the desire to win. For them, it's just a game. 691 00:32:35,000 --> 00:32:38,240 - They don't realise that they are undergoing therapy. - Got it. 692 00:32:53,560 --> 00:32:55,880 The starfish has come here 693 00:32:55,960 --> 00:32:57,080 - to deliver diamonds. - Under the ocean 694 00:32:57,120 --> 00:32:58,920 because we are Sharks! Okay, got it. 695 00:33:00,040 --> 00:33:02,440 Peyush, you have to collect the diamonds by pressing the trigger. 696 00:33:02,480 --> 00:33:03,520 Peyush, you will notice 697 00:33:03,680 --> 00:33:05,440 that your left eye sees one set of diamonds, 698 00:33:05,520 --> 00:33:07,440 while your right eye sees a different set. 699 00:33:07,520 --> 00:33:09,680 And their position is moving. 700 00:33:09,800 --> 00:33:13,200 Because of this, the coordination of both eyes is improving. 701 00:33:14,880 --> 00:33:16,960 Good, great! I think we got the concept 702 00:33:17,200 --> 00:33:18,280 - Good job! - Okay! 703 00:33:18,520 --> 00:33:19,600 - Well done. - Here. 704 00:33:21,040 --> 00:33:22,800 - It's nice. - Thank you, Peyush. I hope you enjoyed it. 705 00:33:22,840 --> 00:33:24,800 I must say, very creative solution. 706 00:33:24,920 --> 00:33:27,280 The difference between the existing solutions 707 00:33:27,800 --> 00:33:29,520 and what this is providing 708 00:33:29,920 --> 00:33:34,200 is like night and day. 709 00:33:34,320 --> 00:33:36,480 - Thank you! - Compliance is the most important thing, 710 00:33:36,600 --> 00:33:39,000 I think, in medical transformation. 711 00:33:39,160 --> 00:33:41,840 So, people will certainly use this. 712 00:33:42,000 --> 00:33:44,760 We see a 3x increase in compliance in all my patients. 713 00:33:45,320 --> 00:33:48,000 Altogether, we have treated 800 patients so far, 714 00:33:48,080 --> 00:33:51,600 and we are seeing positive results. 715 00:33:52,640 --> 00:33:55,360 - Were these 800 children diagnosed with amblyopia? - Yes. 716 00:33:55,480 --> 00:33:58,440 Out of that, how many were severe cases and how many were mild cases? 717 00:33:58,640 --> 00:34:03,200 - 78% where the common difference in eye power is there. - Okay. 718 00:34:25,560 --> 00:34:27,960 Isn't the VR heavy for children? 719 00:34:28,040 --> 00:34:29,880 It weighs 180 grams. 720 00:34:29,960 --> 00:34:32,520 If you wear it with a band and secure it properly. 721 00:34:32,600 --> 00:34:35,440 Because our therapy session, Peyush, is only for 20 minutes. 722 00:34:40,440 --> 00:34:43,560 We provide a maximum exposure of up to 1 hour. 723 00:34:43,640 --> 00:34:44,720 - Three sessions. - One hour. 724 00:34:44,720 --> 00:34:46,160 How many sessions have you done? 725 00:34:46,240 --> 00:34:49,320 I've roughly done 24 sessions, one session a day. 726 00:34:49,920 --> 00:34:51,080 How much will you sell it for? 727 00:34:51,120 --> 00:34:53,480 How much will you sell it to consumers 728 00:34:53,720 --> 00:34:55,120 and doctors? 729 00:34:55,200 --> 00:34:57,320 What is the pricing strategy? And second, 730 00:34:57,480 --> 00:34:59,520 how are you thinking of entering the market? 731 00:34:59,720 --> 00:35:02,280 The device that we give at a clinic 732 00:35:02,360 --> 00:35:04,320 is owned by the clinic. 733 00:35:04,560 --> 00:35:07,520 The one-time cost is Rs. 4.5 lakhs. 734 00:35:08,080 --> 00:35:10,040 Right now, we're not charging for licenses. 735 00:35:10,280 --> 00:35:12,960 In the future, we will start charging for licenses as well. 736 00:35:13,080 --> 00:35:17,120 From clinic therapies, we will get at least 5x home therapies. 737 00:35:17,200 --> 00:35:20,640 Patients who start therapy in the clinic 738 00:35:21,040 --> 00:35:24,040 don't want to keep visiting for each session, 739 00:35:24,120 --> 00:35:26,120 they prefer to continue the therapy at home. 740 00:35:26,360 --> 00:35:28,400 That's why we've introduced home therapy. 741 00:35:28,480 --> 00:35:30,000 We call it BeeVee Home. 742 00:35:30,120 --> 00:35:33,520 - The one for home therapy is a rental model. - Rental! 743 00:35:33,600 --> 00:35:36,840 We have made it as affordable as Rs. 200 per session. 744 00:35:41,560 --> 00:35:43,640 And therefore, what is your revenue per customer? 745 00:35:43,760 --> 00:35:45,240 Let me be very clear with you, Anupam. 746 00:35:45,280 --> 00:35:48,720 We've developed it, but we are launching it now. 747 00:35:48,960 --> 00:35:51,040 - We have only tested in markets... - But what's the plan? 748 00:35:51,080 --> 00:35:53,800 When we did market research, customers were ready to pay 749 00:35:53,880 --> 00:35:56,560 somewhere around 15,000 to Rs. 18,000 for convenience. 750 00:35:56,640 --> 00:35:59,160 So, for every monthly device, 751 00:35:59,480 --> 00:36:01,040 we would have Rs. 12,000 752 00:36:01,120 --> 00:36:03,080 and the doctor would have an additional Rs. 6,000. 753 00:36:03,560 --> 00:36:06,360 Will it also be effective for other conditions 754 00:36:06,440 --> 00:36:08,360 like astigmatism or myopia? 755 00:36:08,440 --> 00:36:10,120 Or is it specifically for amblyopia? 756 00:36:10,240 --> 00:36:12,840 The current condition is called Binocular Vision, 757 00:36:17,520 --> 00:36:19,000 In Binocular Vision problems, 758 00:36:19,080 --> 00:36:22,120 amblyopia is one of the conditions we primarily focus on. 759 00:36:22,200 --> 00:36:24,000 We have received certification for this. 760 00:36:24,720 --> 00:36:26,960 The condition you mentioned, that's myopia. 761 00:36:27,040 --> 00:36:30,200 It requires glasses and then there are therapies to give. 762 00:36:30,280 --> 00:36:32,720 A good variety of glasses. It's not in this currently. 763 00:36:32,840 --> 00:36:35,160 - Not there. Okay! - But we are planning 764 00:36:35,240 --> 00:36:36,840 to develop more such solutions. 765 00:36:37,640 --> 00:36:40,440 Pradeep is not here. What is his role in the company? 766 00:36:45,080 --> 00:36:46,600 Is he in this business full-time? 767 00:36:46,680 --> 00:36:47,680 He has two businesses. 768 00:36:47,840 --> 00:36:50,360 This and he runs another business that he runs called Artelus. 769 00:36:50,440 --> 00:36:52,240 Okay! So, this is his second venture. 770 00:36:52,320 --> 00:36:54,200 - The first venture is the other business. - That's correct. 771 00:36:54,200 --> 00:36:56,680 Why do I get the feeling that he is the primary shareholder. 772 00:36:56,840 --> 00:36:57,680 - No, sir. - No. 773 00:36:57,760 --> 00:36:59,520 Tell us your equity split. 774 00:36:59,600 --> 00:37:01,320 I have 33% equity. 775 00:37:01,400 --> 00:37:04,160 We developed this with Polish partners. 776 00:37:04,400 --> 00:37:07,040 - They also have 33% equity. - Oh! 777 00:37:07,680 --> 00:37:10,120 And Pradeep has 25% equity. 778 00:37:10,200 --> 00:37:12,520 And Girish has 8%. 779 00:37:12,600 --> 00:37:16,240 And from the ESOP pool, we plan to give 6% to Avi. 780 00:37:16,320 --> 00:37:19,560 25% is Pradeep. Both of you hold 33% each. 781 00:37:19,640 --> 00:37:22,000 There is nothing left for ESOP. 782 00:37:22,560 --> 00:37:24,720 We are working on restructuring 783 00:37:24,960 --> 00:37:27,000 - the cap table to a certain extent. - There is no equity left now. 784 00:37:27,040 --> 00:37:28,800 - Currently, no. We plan... - Because you... 785 00:37:28,880 --> 00:37:31,600 - The equity is covered by all four of you. - Correct. 786 00:37:31,680 --> 00:37:34,160 - There is nothing for him now. Okay! - We will be restructuring. 787 00:37:34,160 --> 00:37:37,720 Currently, Pradeep is investing the money that is required. 788 00:37:37,800 --> 00:37:40,880 He has invested a good amount of Rs. 30 lakhs. 789 00:37:41,080 --> 00:37:42,320 We are currently bootstrapped 790 00:37:42,400 --> 00:37:46,240 with support from a seed fund we received from 791 00:37:46,320 --> 00:37:48,320 the Research Innovation Circle of Hyderabad. 792 00:37:49,080 --> 00:37:50,560 We got a seed fund from Startup India. 793 00:37:50,760 --> 00:37:52,280 With these two, we are scaling up. 794 00:37:52,360 --> 00:37:54,680 Was the seed fund a grant or given in exchange for equity? 795 00:37:54,760 --> 00:37:55,920 This is a CCD agreement, sir. 796 00:37:56,000 --> 00:37:57,240 It was a convertible debenture. 797 00:37:57,280 --> 00:37:58,720 You are not bootstrapped then. 798 00:37:59,040 --> 00:38:01,640 - Okay, sir. - Also, tell us what the cap and floor are. 799 00:38:01,760 --> 00:38:02,880 - Rs. 5 crores and Rs. 8 crores. - Rs. 8 crores. 800 00:38:02,880 --> 00:38:04,560 How much did you get from them? One second. 801 00:38:04,600 --> 00:38:06,760 - Rs. 45 lakhs. - Rs. 45 lakhs, thank you. 802 00:38:07,120 --> 00:38:09,160 Do you have a patent? 803 00:38:09,240 --> 00:38:12,320 Yes! We have a US patent that has been granted. 804 00:38:13,000 --> 00:38:15,720 Is the patent registered under a personal name or the company's name? 805 00:38:24,840 --> 00:38:27,360 - Sorry! - Is Remmed the name of the Polish company? 806 00:38:27,480 --> 00:38:28,600 - Remmed! - Yes, ma'am. 807 00:38:29,240 --> 00:38:31,880 So, that company holds a 33% share 808 00:38:31,960 --> 00:38:34,680 in your business because 809 00:38:34,880 --> 00:38:36,960 you developed this product in collaboration with them. 810 00:38:37,000 --> 00:38:39,480 - Yes, ma'am! Exactly! - What is their role in the future? 811 00:38:39,560 --> 00:38:42,360 So, NeuraSim has an agreement for perpetuity. 812 00:38:42,440 --> 00:38:46,080 We have received the license, and we possess the complete know-how. 813 00:38:52,400 --> 00:38:54,960 But the Polish company has the ownership. 814 00:38:55,160 --> 00:38:56,200 No, ma'am. 815 00:38:56,440 --> 00:39:00,720 There was an understanding in our agreement 816 00:39:00,800 --> 00:39:03,440 that the transfer of technology and know-how would take place. 817 00:39:03,520 --> 00:39:05,400 After that, we have the freedom to build upon it 818 00:39:05,560 --> 00:39:07,320 and develop all iterations 819 00:39:07,480 --> 00:39:08,680 for the Indian market. 820 00:39:08,760 --> 00:39:10,320 - For amblyopia treatment... - Hmm! 821 00:39:10,440 --> 00:39:11,960 Using VR, 822 00:39:12,080 --> 00:39:16,040 only Remmed and NeuraSim can do it worldwide. 823 00:39:16,600 --> 00:39:17,600 Is that your patent? 824 00:39:17,640 --> 00:39:18,480 That is not the patent. 825 00:39:18,560 --> 00:39:19,760 - That's what I thought. - The patent covers 826 00:39:19,760 --> 00:39:21,880 the end-to-end technology that we have developed. 827 00:39:22,200 --> 00:39:23,520 The hardware from Remmed 828 00:39:23,640 --> 00:39:26,600 and the software developed with the grant 829 00:39:26,680 --> 00:39:29,560 have been combined into a product, 830 00:39:29,640 --> 00:39:31,640 which has been patented. 831 00:39:31,760 --> 00:39:35,640 If someone develops their own process 832 00:39:35,720 --> 00:39:37,440 and does not use your process 833 00:39:37,560 --> 00:39:39,840 - using hardware and software... - Yes. 834 00:39:39,960 --> 00:39:44,400 - To treat amblyopia is not violating your patent? - No! 835 00:39:44,520 --> 00:39:45,960 Okay, that's very useful. 836 00:39:46,960 --> 00:39:50,360 I am out today because there are a few reasons. 837 00:39:51,680 --> 00:39:56,200 First of all, the team that is actively growing the business, 838 00:39:56,280 --> 00:39:58,200 they don't have equity. 839 00:39:58,560 --> 00:40:00,040 And too many silent partners, 840 00:40:00,160 --> 00:40:03,120 including the Polish company and Pradeep. 841 00:40:03,200 --> 00:40:07,000 So, I am not comfortable with the ownership structure. 842 00:40:07,520 --> 00:40:10,600 The market size is small because there are 1.5 crore children. 843 00:40:10,680 --> 00:40:12,360 We couldn't prove if it was effective in adults. 844 00:40:12,360 --> 00:40:15,400 Out of 1.5 crore children, 25% 845 00:40:15,600 --> 00:40:18,600 have no other solution except this, while for the rest, 846 00:40:18,760 --> 00:40:21,360 patches will work, even if slowly. 847 00:40:22,440 --> 00:40:26,560 Our market size is 30 lakh children and this is an expensive solution 848 00:40:26,640 --> 00:40:30,200 for it to be used even by more than 1 lakh children. 849 00:40:30,320 --> 00:40:33,120 Because a Rs. 12,000 solution is not affordable 850 00:40:33,280 --> 00:40:36,360 for most children in India. 851 00:40:36,480 --> 00:40:39,800 As of now, there are a lot of gaps in this business model. 852 00:40:40,000 --> 00:40:42,440 For that reason, I am out. Best of luck. 853 00:40:44,200 --> 00:40:46,200 The problem you are addressing is truly remarkable. 854 00:40:46,240 --> 00:40:49,080 When it comes to the solution, I have decent confidence 855 00:40:49,200 --> 00:40:50,360 that this will work better 856 00:40:50,520 --> 00:40:52,680 compared to traditional solutions. No doubt! 857 00:40:52,760 --> 00:40:57,080 The challenge is that you need to strengthen your team. 858 00:40:57,440 --> 00:40:59,120 You are an academician, 859 00:40:59,200 --> 00:41:01,680 and there is technology, but you need a strong person 860 00:41:01,800 --> 00:41:03,920 to make it accessible. 861 00:41:04,240 --> 00:41:05,560 Otherwise, it remains just a product. 862 00:41:05,600 --> 00:41:07,840 It's uncertain whether it will evolve into a company. 863 00:41:07,920 --> 00:41:11,880 I invest in founders and technology, but here, both seem incomplete. 864 00:41:13,600 --> 00:41:16,480 Today, the technology is partially owned by a Polish company, 865 00:41:16,560 --> 00:41:18,680 and a founder isn't present today. 866 00:41:18,760 --> 00:41:22,080 So, at this stage, making a financial bet is very difficult. 867 00:41:22,160 --> 00:41:25,480 So, I am out. Best of luck. But good going. 868 00:41:25,840 --> 00:41:26,840 Thank you, Peyush! 869 00:41:27,160 --> 00:41:29,880 Being squint is a condition 870 00:41:30,440 --> 00:41:32,440 that only those who experience it truly understand. 871 00:41:32,720 --> 00:41:34,440 It is not a vision problem. 872 00:41:34,800 --> 00:41:36,600 It is a self-esteem problem 873 00:41:36,920 --> 00:41:39,480 and it is a quality of life problem. 874 00:41:39,920 --> 00:41:43,840 No matter how severe you think this condition is, 875 00:41:43,960 --> 00:41:47,200 it's still an understatement. I consider it a huge problem. 876 00:41:47,280 --> 00:41:50,640 So, hats off to you guys for taking this on. 877 00:41:50,800 --> 00:41:52,440 Because one thing is clear, 878 00:41:52,520 --> 00:41:54,160 compared to the conventional solutions, 879 00:41:54,240 --> 00:41:56,480 this is way ahead. 880 00:41:56,680 --> 00:41:58,320 So, congratulations on that. 881 00:41:59,560 --> 00:42:00,960 You guys are great scientists. 882 00:42:01,040 --> 00:42:05,080 But there is a gap in marketers and business people. 883 00:42:05,160 --> 00:42:09,720 You need a full-time CEO with expertise in medical tech. 884 00:42:10,440 --> 00:42:12,520 Only then will this become a successful company and business. 885 00:42:12,560 --> 00:42:13,560 I am out today. 886 00:42:13,600 --> 00:42:15,760 Good luck! I think in-home therapy, 887 00:42:15,840 --> 00:42:18,440 you've got something really powerful there. 888 00:42:18,960 --> 00:42:20,560 Double down on that. All the best. 889 00:42:20,680 --> 00:42:21,720 Thank you! 890 00:42:22,080 --> 00:42:24,760 I think that you should make a machine 891 00:42:24,840 --> 00:42:27,000 that tells me what I can see in front of me. 892 00:42:27,120 --> 00:42:30,080 Right? Because one eye tells me that this can be a successful business, 893 00:42:30,160 --> 00:42:32,080 and the other eye tells me that it can't. 894 00:42:32,760 --> 00:42:35,200 Because we don't know what will happen when it's launched 895 00:42:35,360 --> 00:42:36,800 and how much revenue it will earn. 896 00:42:37,200 --> 00:42:40,640 It needs to be tested in the market, so... 897 00:42:40,760 --> 00:42:44,200 - But since it's not, I am also out. - Thank you, Aman. 898 00:42:44,280 --> 00:42:47,040 - All right, four Sharks are out, guys. Namita! - Come on! 899 00:42:47,120 --> 00:42:48,320 - Go for the kill! - PharMaa! 900 00:42:48,480 --> 00:42:49,600 [laughing] 901 00:42:50,600 --> 00:42:54,400 I don't think you understand the legal implications 902 00:42:54,520 --> 00:42:57,440 of the patent, especially with the Polish partner. 903 00:42:57,800 --> 00:42:59,440 This is a tricky area. 904 00:42:59,640 --> 00:43:02,120 Well-established companies have been sold 905 00:43:02,200 --> 00:43:04,960 in not understanding the legal implications of 906 00:43:05,320 --> 00:43:07,440 product versus process patent. 907 00:43:12,360 --> 00:43:14,720 I think you need to hire a lawyer. 908 00:43:14,800 --> 00:43:17,440 If you pay the lawyer, it will be well worth it. 909 00:43:17,520 --> 00:43:20,480 I would definitely be interested in meeting again. 910 00:43:20,560 --> 00:43:22,080 But too early for me today. 911 00:43:22,200 --> 00:43:23,720 Look at the legal aspect. 912 00:43:23,800 --> 00:43:25,480 And for that reason, I am out. 913 00:43:25,600 --> 00:43:27,960 - Thank you, Namita. - Thank you, bye! 914 00:43:28,040 --> 00:43:29,680 - Thank you! - Thank you! 915 00:43:31,640 --> 00:43:34,040 I am very impressed that all the Sharks 916 00:43:34,680 --> 00:43:36,160 were appreciating our technology. 917 00:43:36,320 --> 00:43:37,960 That is the endorsement for us. 918 00:43:38,040 --> 00:43:40,320 But the main aspect was the structure that we had 919 00:43:40,440 --> 00:43:42,040 and these were very valuable points. 920 00:43:42,120 --> 00:43:44,040 This is going to help us a lot 921 00:43:44,120 --> 00:43:46,480 and we would take all the valuable inputs 922 00:43:46,560 --> 00:43:49,520 and ensure we adapt what is best for us. 923 00:43:49,880 --> 00:43:52,120 [music playing] 924 00:43:58,000 --> 00:44:01,720 Welcome to ACKO Change Makers, where we really welcome change. 925 00:44:01,800 --> 00:44:04,720 It has been portrayed beautifully 926 00:44:04,800 --> 00:44:07,920 over here, in this change makers wall. 927 00:44:08,080 --> 00:44:09,920 Technology is not just about innovation, 928 00:44:10,040 --> 00:44:12,960 in an evolving world, it is a necessity for bringing change. 929 00:44:16,560 --> 00:44:18,520 - Welcome! - Thank you! 930 00:44:18,600 --> 00:44:20,960 You are the perfect example of how you can use 931 00:44:21,080 --> 00:44:23,720 academia and research to create a business. 932 00:44:23,800 --> 00:44:26,440 People say that they want to do a business and they'll make money. 933 00:44:26,560 --> 00:44:28,400 But you've used academia in the proper way 934 00:44:28,520 --> 00:44:29,680 to execute what you have to. 935 00:44:29,760 --> 00:44:32,080 - So, thank you so much for bringing a change. - Thank you! 936 00:44:32,200 --> 00:44:35,000 And for our viewers as well, in this digital age 937 00:44:35,080 --> 00:44:37,920 where screen time is skyrocketing 938 00:44:38,160 --> 00:44:39,760 and obviously impacting vision. 939 00:44:39,840 --> 00:44:42,640 What changes can we make in our daily lives 940 00:44:42,720 --> 00:44:45,240 to take the best care of our eyes? 941 00:44:45,320 --> 00:44:46,880 The basic thing to do is... 942 00:44:46,960 --> 00:44:49,720 This is a well-popularised rule. 943 00:44:49,840 --> 00:44:51,960 - It's a 20-20-20 rule. - Okay! 944 00:44:52,240 --> 00:44:54,120 - Every 20 minutes... - Yes. 945 00:44:54,240 --> 00:44:56,160 Okay! With your glasses on, 946 00:44:56,240 --> 00:44:59,240 look at an object 20 meters away. 947 00:44:59,320 --> 00:45:01,560 - You have to do that. - Hmm! 948 00:45:01,640 --> 00:45:05,240 And blink your eyes 20 times. 949 00:45:05,360 --> 00:45:07,240 - That's fascinating. - What's simply happening is... 950 00:45:07,240 --> 00:45:10,840 The eyes get dry when you use mobile phones. 951 00:45:10,920 --> 00:45:12,760 - You are refreshing your eyes in a way. - Yes. 952 00:45:12,800 --> 00:45:15,720 That is the first thing, if we get into a habit, 953 00:45:15,800 --> 00:45:17,720 you will have more comfort. 954 00:45:17,800 --> 00:45:19,960 An easy solution to a problem. 955 00:45:20,040 --> 00:45:22,280 Thank you so much for helping us bring this change. 956 00:45:22,360 --> 00:45:25,360 Similarly, ACKO, with its revolutionary offering 957 00:45:25,440 --> 00:45:27,360 is changing the landscape of insurance. 958 00:45:27,480 --> 00:45:29,160 Now, while buying car insurance, 959 00:45:29,280 --> 00:45:31,320 you don't have to worry about spam calls. 960 00:45:31,400 --> 00:45:34,920 Avoid the confusion of price and policy coverage. 961 00:45:35,040 --> 00:45:36,840 Buy car insurance directly from ACKO. 962 00:45:36,920 --> 00:45:40,720 It's easy, transparent, hassle-free, and priced just right. 963 00:45:40,800 --> 00:45:43,640 To celebrate your time in the Tank 964 00:45:43,720 --> 00:45:46,520 and the impact you're making, here's a small token of appreciation 965 00:45:46,640 --> 00:45:48,640 from ACKO and Shark Tank. 966 00:45:48,720 --> 00:45:51,120 - This is for you all. - Thanks a lot. 967 00:45:52,000 --> 00:45:53,840 - Wonderful! - It's very nice! It's beautiful! 968 00:45:54,280 --> 00:45:55,640 [camera shutter clicks] 969 00:45:56,760 --> 00:45:59,720 'Shark Tank India, co-presented by ACKO Insurance, ' 970 00:45:59,800 --> 00:46:01,800 'PokerBaazi and Swiggy Instamart.' 971 00:46:01,920 --> 00:46:04,600 'Co-powered by Adani and Jaquar Bath and Light.' 972 00:46:04,680 --> 00:46:07,760 'And partners, Rayzon Solar, ICICI Direct, ' 973 00:46:07,840 --> 00:46:09,360 'Lenskart and Sofy.' 974 00:46:09,480 --> 00:46:11,320 [music playing] 975 00:46:22,520 --> 00:46:24,800 [music playing] 976 00:46:36,480 --> 00:46:38,360 [music playing] 977 00:46:59,640 --> 00:47:00,760 What's up! 978 00:47:00,880 --> 00:47:02,640 Sharks, did you forget me? 979 00:47:05,200 --> 00:47:08,600 - I am here just because of you. - Wow! 980 00:47:08,720 --> 00:47:11,160 When I came to Shark Tank India Season 2, 981 00:47:11,480 --> 00:47:13,720 you believed in me 982 00:47:13,800 --> 00:47:16,320 more than I believed in myself. 983 00:47:16,400 --> 00:47:17,520 [laughing] 984 00:47:17,640 --> 00:47:19,840 You taught me to fight for what I deserve. 985 00:47:20,880 --> 00:47:23,120 And that faith gave me the confidence 986 00:47:23,200 --> 00:47:25,520 to finally do something for myself. 987 00:47:25,800 --> 00:47:28,040 This is my second inning in Shark Tank India. 988 00:47:28,320 --> 00:47:29,560 What? 989 00:47:29,920 --> 00:47:32,640 In the last season, I was playing on the backfoot. 990 00:47:32,840 --> 00:47:36,560 But this season, I will play on the front foot with my own brand. 991 00:47:37,880 --> 00:47:40,360 Hello, Sharks! I am Ashutosh Roy. 992 00:47:47,320 --> 00:47:48,800 [music playing]. 993 00:47:49,320 --> 00:47:52,840 Offmint is a unisex, multi-category fashion brand 994 00:48:01,240 --> 00:48:03,680 As you can see, from jackets to dresses 995 00:48:10,680 --> 00:48:14,120 and make Offmint a complete fashion ecosystem. 996 00:48:14,200 --> 00:48:16,480 When the episode of Season 2 went live, 997 00:48:16,560 --> 00:48:19,600 I received over 500 business collaboration calls 998 00:48:19,680 --> 00:48:21,280 from across the globe. 999 00:48:21,400 --> 00:48:22,720 And I was fortunate 1000 00:48:22,800 --> 00:48:26,080 that I found the right co-founder Rani Ahluwalia 1001 00:48:33,440 --> 00:48:36,200 Be it a tier 2 or tier 3 city, 1002 00:48:36,320 --> 00:48:38,960 high-street fashion should not just remain a dream for anyone. 1003 00:48:39,160 --> 00:48:41,360 To fulfil this dream, 1004 00:48:41,440 --> 00:48:43,680 I need your help once again. 1005 00:48:43,760 --> 00:48:46,560 My ask is Rs. 10 for 1%. 1006 00:48:46,640 --> 00:48:47,960 Oh! 1007 00:48:49,200 --> 00:48:51,320 But when did you come here? I can't recall. 1008 00:48:51,440 --> 00:48:54,360 - I can't too! - You had an older co-founder. 1009 00:48:54,440 --> 00:48:57,320 - A Kolkata-based company in fashion. - Yes. 1010 00:48:58,520 --> 00:49:01,360 You handled all the designing and purchasing, 1011 00:49:01,440 --> 00:49:04,040 while he invested the money, yet he had more equity, and you had less. 1012 00:49:04,080 --> 00:49:05,720 - I didn't have any. - You didn't have equity. 1013 00:49:05,760 --> 00:49:07,920 - Right! What was the name of that brand? - Wow! 1014 00:49:08,000 --> 00:49:10,600 - Gavin Paris! - What a memory! 1015 00:49:13,120 --> 00:49:16,360 'Hello, Sharks! I am Kishor Jairamka. I am from Kolkata.' 1016 00:49:20,760 --> 00:49:22,520 'Rs. 1.4 crores.' 1017 00:49:22,600 --> 00:49:24,680 - 'Rs. 1.4 crores in seven months? - Yes, ma'am.' 1018 00:49:24,760 --> 00:49:27,120 - 'And that too just from your website? - Yes, sir.' 1019 00:49:27,200 --> 00:49:30,120 - 'You do the marketing on this website.- Yes.' 1020 00:49:30,200 --> 00:49:31,680 'You are the one running the business.' 1021 00:49:31,680 --> 00:49:33,000 'We are running it together.' 1022 00:49:33,120 --> 00:49:34,320 'What is the equity split?' 1023 00:49:34,440 --> 00:49:36,440 'I have 100% equity.' 1024 00:49:36,520 --> 00:49:38,680 - 'I thought so! - Ashutosh is on a commission model.' 1025 00:49:38,760 --> 00:49:41,440 'We will register the company in the future and then discuss equity.' 1026 00:49:41,480 --> 00:49:43,080 'How much equity will you give him then?' 1027 00:49:43,640 --> 00:49:44,880 - 'We will discuss that. - No!' 1028 00:49:44,960 --> 00:49:47,680 'No! This is not how you come on Shark Tank.' 1029 00:49:47,800 --> 00:49:51,160 'Unless I know this, I won't ask another question.' 1030 00:49:53,320 --> 00:49:55,760 'We verbally discussed 10% equity.' 1031 00:49:55,880 --> 00:49:57,800 - 'He will get 10% and you will get 90%. - Yes.' 1032 00:49:57,880 --> 00:50:00,000 'You seem naive.' 1033 00:50:00,840 --> 00:50:02,720 'And you seem too smart.' 1034 00:50:03,160 --> 00:50:04,400 'No, sir. That's not the case.' 1035 00:50:05,160 --> 00:50:07,520 'It feels like you robbed him.' 1036 00:50:08,400 --> 00:50:11,080 'Ashutosh, I want you to sit down' 1037 00:50:11,160 --> 00:50:12,680 'and ask for what is yours.' 1038 00:50:13,080 --> 00:50:14,320 'Demand what you deserve.' 1039 00:50:14,400 --> 00:50:17,760 'It is important to stand up for your rights.' 1040 00:50:18,240 --> 00:50:20,360 'Stop working and take shares.' 1041 00:50:20,440 --> 00:50:21,840 'If he refuses,' 1042 00:50:21,920 --> 00:50:25,080 'I will give you an offer.' 1043 00:50:25,160 --> 00:50:27,640 'Start the same business with me.' 1044 00:50:28,400 --> 00:50:29,880 'Thank you so much, Sharks. 1045 00:50:31,560 --> 00:50:33,240 - Did you stop working with him? - Yes. 1046 00:50:33,480 --> 00:50:35,000 When did that happen and what happened next? 1047 00:50:35,040 --> 00:50:37,520 Your advice was really... 1048 00:50:37,600 --> 00:50:38,800 What advice did they give you? 1049 00:50:38,880 --> 00:50:41,480 Sir, he said that I don't have equity 1050 00:50:41,560 --> 00:50:43,120 and I am the one who handles work. 1051 00:50:43,280 --> 00:50:48,240 So, Aman offered Rs. 50 lakhs to start my business. 1052 00:50:48,600 --> 00:50:52,680 Sir and ma'am suggested that I should fight for my rights, 1053 00:50:53,280 --> 00:50:55,600 That thought stayed with me, and it gave me the confidence 1054 00:50:55,680 --> 00:50:57,680 that I can do something better. 1055 00:50:57,920 --> 00:51:00,240 After the Shark Tank episode aired, 1056 00:51:00,320 --> 00:51:04,240 I went through a phase where I felt that this was the right time 1057 00:51:04,360 --> 00:51:05,920 to take action and do something. 1058 00:51:06,000 --> 00:51:07,240 Can you elaborate on that? 1059 00:51:07,320 --> 00:51:10,600 Actually, I lost my father 1060 00:51:10,720 --> 00:51:13,000 on the same day when the episode was supposed to be aired. 1061 00:51:13,040 --> 00:51:14,680 - Oh my God! - Oh! 1062 00:51:14,760 --> 00:51:16,000 - Train accident! - Oh my God! 1063 00:51:16,160 --> 00:51:17,160 Oh my God! 1064 00:51:17,960 --> 00:51:21,840 We had planned to watch the episode together. 1065 00:51:23,560 --> 00:51:27,120 I got a call from the team to inform that my episode will be aired today. 1066 00:51:27,360 --> 00:51:30,080 And in the next half an hour, I got a call from the police 1067 00:51:30,160 --> 00:51:32,720 to inform me that they found my dad at this railway station. 1068 00:51:33,280 --> 00:51:34,440 Oh my God! 1069 00:51:35,720 --> 00:51:38,600 I didn't watch the pitch for a month. 1070 00:51:39,280 --> 00:51:41,680 That is crazy! I have goosebumps. 1071 00:51:41,760 --> 00:51:44,080 Life is hard, man. 1072 00:51:46,720 --> 00:51:48,440 - Are you fine? - Yes, I am. 1073 00:51:48,520 --> 00:51:50,200 Did you finally watch the pitch? 1074 00:51:50,280 --> 00:51:51,320 Yes, I did. 1075 00:51:51,400 --> 00:51:53,640 At that moment, everything reiterated itself for me. 1076 00:51:53,760 --> 00:51:56,080 I realised that this was the time to do something for myself. 1077 00:51:56,080 --> 00:51:58,640 When my dad was around, we were having fun. 1078 00:51:58,720 --> 00:52:00,760 I was not focused on my career. 1079 00:52:00,880 --> 00:52:02,160 I was doing what I liked. 1080 00:52:02,240 --> 00:52:04,760 I didn't have the feeling of responsibility. 1081 00:52:04,840 --> 00:52:08,920 After that, when the responsibility of my family suddenly fell on me, 1082 00:52:09,080 --> 00:52:11,720 - I had to make firm choices in life. - Absolutely! 1083 00:52:11,800 --> 00:52:13,760 And Offmint is that decision. 1084 00:52:13,840 --> 00:52:15,160 Unbelievable. 1085 00:52:15,360 --> 00:52:17,000 Ashutosh, when you returned 1086 00:52:17,120 --> 00:52:20,760 with the founder you were here with, did he bring up the topic of equity? 1087 00:52:20,960 --> 00:52:23,960 - Ah... No! He didn't mention equity. Okay! 1088 00:52:24,080 --> 00:52:26,120 He didn't. He didn't want to give it to you. 1089 00:52:26,280 --> 00:52:27,760 We were right about him. 1090 00:52:27,880 --> 00:52:29,640 - And we are so glad and happy... - Thank you! 1091 00:52:29,680 --> 00:52:30,880 That you have landed on your feet 1092 00:52:30,880 --> 00:52:32,640 - and you are back at Shark Tank. - Thank you! 1093 00:52:32,680 --> 00:52:33,520 This platform 1094 00:52:33,640 --> 00:52:35,640 - is often seen as a place for funding. - Yes. 1095 00:52:35,880 --> 00:52:38,560 - But through you, this platform became bigger. - Yes! 1096 00:52:38,640 --> 00:52:40,440 Because this journey of life 1097 00:52:40,600 --> 00:52:41,920 is not just about funding. 1098 00:52:42,000 --> 00:52:44,160 - These are about life journeys. - Yes. 1099 00:52:45,200 --> 00:52:47,320 - So, great work! Great courage! - Thank you! 1100 00:52:47,920 --> 00:52:48,920 Let's move on! 1101 00:52:49,680 --> 00:52:52,560 - You mentioned a founder who helped. - Rani Ahluwalia. 1102 00:52:52,640 --> 00:52:53,640 Where is she? 1103 00:52:53,720 --> 00:52:56,440 How I met Rani Ahluwalia is 1104 00:52:56,520 --> 00:52:59,600 - she was watching Shark Tank at her house in London. - What? 1105 00:52:59,960 --> 00:53:01,200 [laughing] 1106 00:53:01,480 --> 00:53:02,360 She is a die-hard fan. 1107 00:53:02,440 --> 00:53:05,120 She asked her PA to call me. 1108 00:53:05,240 --> 00:53:06,240 - PA? - Yes. 1109 00:53:06,320 --> 00:53:07,320 - Crazy! - Okay! 1110 00:53:08,200 --> 00:53:10,960 - Rani flew to India from London. - Wow! 1111 00:53:11,120 --> 00:53:14,560 I thought that I should start working with her. 1112 00:53:14,640 --> 00:53:17,680 Her vision was to start something in India. 1113 00:53:17,760 --> 00:53:20,080 And I wanted to create a fashion brand. 1114 00:53:20,160 --> 00:53:23,000 That is where we started our journey of Offmint. 1115 00:53:23,120 --> 00:53:25,120 [music playing] 1116 00:53:25,200 --> 00:53:27,560 - Is she the co-founder or investor? - She is an investor. 1117 00:53:27,640 --> 00:53:29,280 - My co-founder. - You didn't bring her with you. 1118 00:53:29,280 --> 00:53:31,040 - Actually, Rani lives in London. - Okay. 1119 00:53:31,120 --> 00:53:33,600 She is over 62 years old. 1120 00:53:33,680 --> 00:53:36,360 She was feeling uneasy. 1121 00:53:36,480 --> 00:53:38,680 But she is a die-hard fan of Shark Tank India. 1122 00:53:38,760 --> 00:53:40,600 She doesn't miss a single episode. 1123 00:53:40,720 --> 00:53:42,800 She was excited to come here. 1124 00:53:42,880 --> 00:53:46,400 But her doctors recommended not to travel so far. 1125 00:53:46,960 --> 00:53:49,200 - How is the equity split? - Equal equity split. 1126 00:53:49,280 --> 00:53:50,400 But she is not active, right? 1127 00:53:50,440 --> 00:53:52,480 - She lives in London. - She is somewhat active. 1128 00:53:52,560 --> 00:53:56,440 She shares ideas and attends daily team meetings. 1129 00:53:56,520 --> 00:53:57,360 - Okay! - Wow! 1130 00:53:57,440 --> 00:53:59,040 How much has she invested? 1131 00:53:59,160 --> 00:54:01,080 - She gave Rs. 5 crores. - Rs. 5 crores. 1132 00:54:01,160 --> 00:54:03,080 - That's not bad. - That's very good. 1133 00:54:03,880 --> 00:54:06,960 That's why you are here with Rs. 10 for 1%. 1134 00:54:07,040 --> 00:54:09,760 Because I have money in the bank, I don't have to raise the money. 1135 00:54:09,840 --> 00:54:11,440 - Oh! - I need expertise. 1136 00:54:11,600 --> 00:54:13,080 Expertise! 1137 00:54:14,320 --> 00:54:17,240 Tell us about Offmint. 1138 00:54:17,360 --> 00:54:21,560 I wanted to create a fashion brand that's a complete ecosystem. 1139 00:54:22,080 --> 00:54:24,200 The customers we target in D2C, 1140 00:54:24,280 --> 00:54:25,920 for them, these products are their requirements. 1141 00:54:25,960 --> 00:54:27,960 If someone buys a top, they're likely to purchase a bottom as well. 1142 00:54:27,960 --> 00:54:30,320 Similarly, if they buy bottoms, they may also pick up accessories. 1143 00:54:30,360 --> 00:54:33,440 There are more than 700 SKUs in Offmint. 1144 00:54:33,560 --> 00:54:36,160 I launched Offmint this year in January. 1145 00:54:36,280 --> 00:54:39,320 - We launched this brand nine months ago. - Oh, wow! Okay. 1146 00:54:39,440 --> 00:54:41,760 Is this just another apparel brand 1147 00:54:41,840 --> 00:54:45,840 like the rest or does it have a unique differentiation? 1148 00:54:45,960 --> 00:54:48,040 There are a few key differentiations in this brand, 1149 00:54:48,120 --> 00:54:49,520 inspired by my personal experiences. 1150 00:54:49,880 --> 00:54:51,880 We have focussed on quality. 1151 00:54:51,960 --> 00:54:53,680 The second differentiation is that we've tailored 1152 00:54:53,680 --> 00:54:57,000 our fashion to suit the tastes of Tier 2 and Tier 3 cities. 1153 00:55:01,280 --> 00:55:04,440 - that people from my city won't wear to go out. - Good point. 1154 00:55:04,880 --> 00:55:07,720 I wanted high-street fashion to be accessible to them 1155 00:55:08,000 --> 00:55:09,120 and make them look stylish 1156 00:55:09,280 --> 00:55:11,440 without feeling out of place. 1157 00:55:11,520 --> 00:55:13,400 That's not the kind of fashion I aimed to create. 1158 00:55:13,400 --> 00:55:15,640 Is this value for money? 1159 00:55:15,720 --> 00:55:17,360 Yes! Very affordable. 1160 00:55:17,440 --> 00:55:20,040 What we are selling for around Rs. 800, 1161 00:55:25,400 --> 00:55:26,680 - Amazing! - Oh, personalised. 1162 00:55:27,000 --> 00:55:28,800 How nice! Personalised. 1163 00:55:28,880 --> 00:55:32,000 Thank you! Good to see you. 1164 00:55:33,960 --> 00:55:36,480 - Thank you! Thank you, Ashutosh. Very nice of you. - Thank you! 1165 00:55:37,320 --> 00:55:39,080 - Nice to meet you. - Look at this detailing. 1166 00:55:39,200 --> 00:55:41,280 - Good to see you. - Ashutosh, I love this detailing. 1167 00:55:41,320 --> 00:55:42,480 Are you wearing the same jacket? 1168 00:55:42,480 --> 00:55:44,720 - Yes, sir. It's the same. - Oh, wow! Thank you, brother! 1169 00:55:47,760 --> 00:55:49,480 Nice product! How much is this for? 1170 00:55:49,600 --> 00:55:51,360 They all cost around Rs. 2,500. 1171 00:55:52,280 --> 00:55:53,360 - This one too? - Yes. 1172 00:55:53,440 --> 00:55:54,880 - Very nice! - That is cheaper 1173 00:55:55,080 --> 00:55:56,160 because it doesn't have sleeves. 1174 00:55:56,200 --> 00:55:57,560 So, that might be below Rs. 2,000. 1175 00:55:57,680 --> 00:55:59,120 This one is nice too. Cool! 1176 00:55:59,400 --> 00:56:01,440 - When you look at fast fashion... - Yes! 1177 00:56:01,520 --> 00:56:04,040 The top two questions that come to mind 1178 00:56:04,280 --> 00:56:06,920 are returns and inventory 1179 00:56:07,200 --> 00:56:09,640 split as total inventory days and dead inventory. 1180 00:56:09,960 --> 00:56:12,280 And then, of course, you have to crack manufacturing 1181 00:56:12,480 --> 00:56:13,960 - and bad sizing as well. - Yes. 1182 00:56:14,120 --> 00:56:16,120 - Because that is correlated to the inventory. - Yes. 1183 00:56:16,120 --> 00:56:17,840 - You are an expert at this. - Yes. 1184 00:56:17,920 --> 00:56:20,560 Share your expertise with us. 1185 00:56:21,680 --> 00:56:24,800 At Offmint, what we do is we have a small factory setup 1186 00:56:25,200 --> 00:56:26,760 where there are 18 machines. 1187 00:56:43,120 --> 00:56:45,520 so that there is a new collection 1188 00:56:45,600 --> 00:56:48,800 and along with that, our inventory moves. 1189 00:56:50,280 --> 00:56:52,080 The other thing in inventory is 1190 00:56:52,160 --> 00:56:54,600 that if I plan 100 products, 1191 00:56:54,680 --> 00:56:56,040 I don't go with my instincts. 1192 00:56:56,160 --> 00:56:58,240 I feel that these five products will be hero products, 1193 00:56:58,280 --> 00:56:59,920 but that's not the case generally. 1194 00:57:00,040 --> 00:57:01,560 So, we go according to the data. 1195 00:57:01,640 --> 00:57:04,480 We boost the production of products that are performing well 1196 00:57:04,560 --> 00:57:06,720 and phase out the ones that aren't, 1197 00:57:06,800 --> 00:57:07,720 selling them through offers. 1198 00:57:07,760 --> 00:57:09,400 - So, fail fast. - Yes! 1199 00:57:09,560 --> 00:57:13,240 There is an issue with the quantity determination of the first batch. 1200 00:57:13,360 --> 00:57:15,240 Here's how we make the first batch. 1201 00:57:15,320 --> 00:57:17,000 We create a single piece, 1202 00:57:17,080 --> 00:57:18,960 - put it on a model and then do a photo shoot. - Correct. 1203 00:57:18,960 --> 00:57:20,960 We have already cut the clothes and kept them ready. 1204 00:57:21,000 --> 00:57:24,680 Orders come in, and within two days, our custom-made orders are shipped. 1205 00:57:24,800 --> 00:57:26,280 We don't do custom-made, 1206 00:57:26,400 --> 00:57:28,160 but the first batch's trial run. 1207 00:57:28,320 --> 00:57:30,200 If I talk about T-shirts, 1208 00:57:30,280 --> 00:57:31,680 just like we do DTF, 1209 00:57:31,760 --> 00:57:35,440 we have around 5,000 pieces of plain T-shirts in all colours. 1210 00:57:35,600 --> 00:57:37,720 When we get the orders, those get printed and then shipped out. 1211 00:57:37,760 --> 00:57:38,600 What's DTF? 1212 00:57:38,720 --> 00:57:40,760 It's Direct-to-Fabric printing. 1213 00:57:46,040 --> 00:57:48,400 There are many brands on Instagram. 1214 00:57:48,520 --> 00:57:50,040 - We call them Instagram brands. - Yes. 1215 00:57:50,080 --> 00:57:53,080 - We get ads for all the brands. I saw your ad as well. - Yes. 1216 00:57:53,200 --> 00:57:55,080 Okay? When we see the ad, 1217 00:57:55,160 --> 00:57:58,120 there is a lot of similarity. Why so? 1218 00:57:58,200 --> 00:57:59,600 Generally, our ads... 1219 00:57:59,680 --> 00:58:01,280 If I talk about a T-shirt, 1220 00:58:01,360 --> 00:58:03,720 it had obviously become a crowded market. 1221 00:58:03,800 --> 00:58:06,200 That was the reason why I didn't start that. 1222 00:58:06,280 --> 00:58:08,040 This is just a category in our brand, 1223 00:58:08,120 --> 00:58:09,560 this is not about the whole brand. 1224 00:58:09,800 --> 00:58:11,200 Our hook... 1225 00:58:11,320 --> 00:58:14,400 - Our Co-ord set is a viral product. - Yes. 1226 00:58:14,480 --> 00:58:15,960 - Which one? - This one, here. 1227 00:58:16,040 --> 00:58:17,080 That's very cool. 1228 00:58:17,240 --> 00:58:18,600 The colour is also cool. 1229 00:58:18,680 --> 00:58:20,400 It has 12 pockets. 1230 00:58:20,520 --> 00:58:24,800 But if you wear it, you won't feel that it is too much. 1231 00:58:24,880 --> 00:58:26,520 It gives a subtle look. 1232 00:58:26,600 --> 00:58:30,080 This is our vision. That people from tier 2 and tier 3 1233 00:58:30,240 --> 00:58:33,760 should feel fashionable and not feel awkward. 1234 00:58:34,000 --> 00:58:35,720 Tell us more about your business. 1235 00:58:36,120 --> 00:58:37,680 How has the business been going on since January? 1236 00:58:37,720 --> 00:58:41,120 Sir, from January until now, we have made sales worth Rs. 2.5 crores. 1237 00:58:41,240 --> 00:58:42,920 - Got it! - On our website. 1238 00:58:43,080 --> 00:58:46,080 Last month we started marketplace. Myntra and Ajio. 1239 00:58:55,000 --> 00:58:56,680 I'll share the sales for the last three months. 1240 00:58:56,720 --> 00:58:58,000 In July, it was Rs. 29 lakhs. 1241 00:58:58,360 --> 00:58:59,600 In August, it was Rs. 32 lakhs. 1242 00:58:59,680 --> 00:59:02,000 Last month, we closed at Rs. 40 lakhs. 1243 00:59:02,080 --> 00:59:04,200 This month we will close at Rs. 48 lakhs. 1244 00:59:04,280 --> 00:59:05,880 This is on your own website. 1245 00:59:06,000 --> 00:59:09,280 Currently, 80% comes from my website. 1246 00:59:09,360 --> 00:59:11,640 Now, 20% comes from marketplaces. 1247 00:59:11,720 --> 00:59:14,840 The amount you're burning in this business right now. 1248 00:59:14,920 --> 00:59:16,000 No, there is no burn. 1249 00:59:16,120 --> 00:59:19,200 - You are not! - Our unit economics are profitable. 1250 00:59:19,280 --> 00:59:20,640 Tell us about your unit economics. 1251 00:59:20,720 --> 00:59:23,640 If we look at 100 units. 30% is our COGS. 1252 00:59:24,280 --> 00:59:26,200 20% is our marketing. 1253 00:59:26,440 --> 00:59:27,760 7% is our delivery. 1254 00:59:27,840 --> 00:59:30,360 3% is our payment gateway and AI tools. 1255 00:59:30,440 --> 00:59:33,120 15% is for rental and salaries. 1256 00:59:33,200 --> 00:59:34,600 12% is GST. 1257 00:59:35,200 --> 00:59:37,000 And the remaining is our EBITDA. 1258 00:59:37,360 --> 00:59:39,280 And you've removed the returns. 1259 00:59:39,400 --> 00:59:40,240 Yes, obviously! 1260 00:59:40,320 --> 00:59:42,760 Rs. 29 lakhs was excluding returns. 1261 00:59:42,840 --> 00:59:45,080 Yes, excluding everything and what we actually delivered. 1262 00:59:53,560 --> 00:59:55,200 Cancellation is 2%. 1263 00:59:59,560 --> 01:00:01,680 Tell us what your sales will be in November and December. 1264 01:00:01,720 --> 01:00:02,920 - Approximately! - In November and December, 1265 01:00:02,920 --> 01:00:04,400 the sales will be around Rs. 60 lakhs. 1266 01:00:04,520 --> 01:00:08,240 - Okay. - And the month after that, it will jump by Rs. 10 lakhs. 1267 01:00:08,320 --> 01:00:10,400 We have not received money from the marketplace, 1268 01:00:10,480 --> 01:00:12,080 - we are delivering. - And what are you expecting in December? 1269 01:00:12,120 --> 01:00:13,840 I am expecting Rs. 80 lakhs in December. 1270 01:00:13,960 --> 01:00:15,880 My target is to touch 1271 01:00:15,960 --> 01:00:19,120 Rs. 1 crore by the end of this financial year. 1272 01:00:19,200 --> 01:00:21,280 For that, I've increased the distribution channels. 1273 01:00:21,560 --> 01:00:25,480 In such businesses, be it Zara or Shein, 1274 01:00:25,640 --> 01:00:28,320 - the core business is the supply chain business. - Correct. 1275 01:00:28,400 --> 01:00:32,920 For example, Zara has its own way of managing the supply chain, 1276 01:00:33,000 --> 01:00:35,720 and Uniqlo has its own approach to managing the supply chain. 1277 01:00:35,840 --> 01:00:38,080 - Uniqlo focusses on fabric innovation. - Yes. 1278 01:00:38,200 --> 01:00:42,240 From that, they've created their model and scaled. 1279 01:00:42,360 --> 01:00:44,960 They don't focus on fashion. They recently started doing so. 1280 01:00:45,040 --> 01:00:46,400 But they were about comfort. 1281 01:00:46,520 --> 01:00:48,120 - Zara was all about fashion. - Yes, sir. 1282 01:00:48,240 --> 01:00:50,680 That's why that was their inventory model. 1283 01:00:57,240 --> 01:00:58,320 and how are you managing it? 1284 01:00:58,360 --> 01:01:00,160 We have multiple fabrics. 1285 01:01:00,240 --> 01:01:03,080 For every product, you need different fabric and sourcing. 1286 01:01:03,200 --> 01:01:06,680 The hubs in India, like Surat, Tiruppur, and Ludhiana, 1287 01:01:06,760 --> 01:01:08,400 we have established our vendors. 1288 01:01:08,520 --> 01:01:11,040 They provide us fabrics on our terms. 1289 01:01:11,120 --> 01:01:13,240 Which colour we want, how many rows, 1290 01:01:13,320 --> 01:01:14,640 and how many rolls to hold. 1291 01:01:14,720 --> 01:01:16,440 We do it on our terms. 1292 01:01:16,560 --> 01:01:19,640 If I tell them that this colour works but I won't buy it now, 1293 01:01:19,720 --> 01:01:21,880 I'll buy it in a month or two, 1294 01:01:22,000 --> 01:01:23,400 they hold my fabric for me. 1295 01:01:40,520 --> 01:01:42,360 Everyone does this. 1296 01:01:42,440 --> 01:01:45,920 - They talk to suppliers wherever they are located. - Correct. 1297 01:01:46,120 --> 01:01:47,520 As the scale increases, 1298 01:01:47,600 --> 01:01:50,600 your bargaining power grows, so they are holding the goods for you. 1299 01:01:50,680 --> 01:01:53,600 But this, anyone can replicate. Differentiation is when 1300 01:01:53,680 --> 01:01:55,560 you've doubled down to the extent 1301 01:01:55,640 --> 01:01:58,320 that no one can do it better than you. 1302 01:01:58,440 --> 01:02:00,000 What is that thing? 1303 01:02:00,080 --> 01:02:03,320 I think that will be you guys. That's why I am here. 1304 01:02:03,680 --> 01:02:05,080 - It can't be only that. - Yes. 1305 01:02:05,200 --> 01:02:07,000 - Think of us as the icing on the cake. - Yes. 1306 01:02:07,080 --> 01:02:08,480 But you have to make the cake. 1307 01:02:09,960 --> 01:02:11,160 So, the question is, 1308 01:02:11,240 --> 01:02:14,600 what will be the secret ingredient of this cake? 1309 01:02:14,880 --> 01:02:16,680 Will it be your design, 1310 01:02:16,760 --> 01:02:19,400 the supply chain or something else? 1311 01:02:19,920 --> 01:02:23,040 I believe I'm moving forward by combining 3-4 factors. 1312 01:02:23,120 --> 01:02:24,680 If my delivery is sorted 1313 01:02:24,800 --> 01:02:27,120 and the customer is receiving it on time. 1314 01:02:27,240 --> 01:02:29,720 If I've managed the supply chain and production well, 1315 01:02:29,800 --> 01:02:32,040 then I can easily grow the brand. 1316 01:02:32,120 --> 01:02:34,560 Ashutosh, what is your superpower? 1317 01:02:34,920 --> 01:02:36,400 I guess it's marketing. 1318 01:02:36,480 --> 01:02:38,400 Especially performance marketing. 1319 01:02:45,920 --> 01:02:48,200 - Obviously! We have a team. - Product, design, operations. 1320 01:02:48,240 --> 01:02:50,320 Yes, we have a team of 10 people 1321 01:02:50,440 --> 01:02:53,040 who handle Offmint's admin, 1322 01:02:53,200 --> 01:02:54,720 designing and dispatch. 1323 01:02:55,360 --> 01:02:58,480 After you, who is the next team member who is a senior 1324 01:02:58,560 --> 01:03:02,360 - who will... - There's a guy who we hired from the airport. 1325 01:03:02,480 --> 01:03:03,560 His name is Naveen. 1326 01:03:03,640 --> 01:03:05,040 What do you mean by that? 1327 01:03:05,280 --> 01:03:06,640 He used to work at the airport. 1328 01:03:06,800 --> 01:03:09,720 When Rani used to travel... He was in meet and greet. 1329 01:03:10,040 --> 01:03:11,200 Oh! 1330 01:03:11,400 --> 01:03:13,440 - She... - Tell me about Rani. 1331 01:03:13,520 --> 01:03:15,920 Is she the queen of England? 1332 01:03:16,000 --> 01:03:17,400 - Rani is... - She seems like... 1333 01:03:17,480 --> 01:03:19,480 - Wherever she goes... - She is giving money and jobs. 1334 01:03:19,520 --> 01:03:21,600 She watches the show and gives you Rs. 5 crores. 1335 01:03:21,680 --> 01:03:25,000 Rani Ahluwalia is Sukhpal Singh Ahluwalia's wife. 1336 01:03:25,080 --> 01:03:27,960 - He is the chairperson of Dominvs Group London. Okay! 1337 01:03:28,040 --> 01:03:29,760 He has a real estate business. 1338 01:03:29,840 --> 01:03:33,160 Their family wealth is Rs. 5,500 crores. 1339 01:03:33,600 --> 01:03:36,320 Wow! Rs. 5 crores is nothing for them. 1340 01:03:36,400 --> 01:03:39,080 She said she will give more money if needed. 1341 01:03:39,680 --> 01:03:41,400 Should we do a five-Shark deal? 1342 01:03:43,000 --> 01:03:45,960 Yes! Namita, Rs. 10 lakhs, 2%, all of us together. 1343 01:03:46,040 --> 01:03:46,960 Should we do that? 1344 01:03:47,080 --> 01:03:49,720 We will do Rs. 10 lakhs for 2.5%. 1345 01:03:49,800 --> 01:03:52,440 So that everyone gets 0.5%. 1346 01:03:52,520 --> 01:03:55,120 Oh my God! That's so sweet. 1347 01:03:55,880 --> 01:03:57,960 Sorry, I just have to say something. 1348 01:03:58,080 --> 01:04:00,520 You know, let's put the deal aside for a second. 1349 01:04:02,520 --> 01:04:04,400 I don't see this growing. 1350 01:04:06,760 --> 01:04:08,240 Because I am not clear... 1351 01:04:08,560 --> 01:04:10,520 I tried to understand your differentiation 1352 01:04:10,600 --> 01:04:12,600 - a couple of times. - Yes, sir. 1353 01:04:12,680 --> 01:04:16,000 You said there are a few things. Then, we tried to narrow it down. 1354 01:04:16,080 --> 01:04:18,680 Later, we came to the execution. 1355 01:04:18,880 --> 01:04:21,480 The execution is yet to be done. 1356 01:04:21,560 --> 01:04:23,440 We don't know if that's your differentiator. 1357 01:04:23,520 --> 01:04:25,560 As far as fast fashion is concerned, 1358 01:04:30,320 --> 01:04:32,760 - Design cannot be a differentiator. - Yes, sir. 1359 01:04:32,840 --> 01:04:35,000 What you told us about the supply chain 1360 01:04:35,080 --> 01:04:38,680 has become your goodwill. 1361 01:04:38,840 --> 01:04:42,240 But I don't know how long it will last. 1362 01:04:42,920 --> 01:04:45,280 According to your unit economics, 1363 01:04:45,360 --> 01:04:47,760 your marketing will double as you scale. 1364 01:04:47,880 --> 01:04:49,920 The next-to-invisible manpower 1365 01:04:50,040 --> 01:04:51,960 will go up to almost 10 to 20 per cent. 1366 01:04:52,160 --> 01:04:55,520 So, as you grow, your loss will increase. 1367 01:04:56,160 --> 01:04:58,320 I am not sure if you have a plan for that. 1368 01:04:58,600 --> 01:05:02,160 I planned to establish a brand slowly and steadily 1369 01:05:02,240 --> 01:05:03,960 so people would know the brand. 1370 01:05:04,040 --> 01:05:06,320 I wanted our customers 1371 01:05:06,480 --> 01:05:09,640 to experience our quality and return to us. 1372 01:05:09,720 --> 01:05:13,360 If they return to us, they validate that our product is good. 1373 01:05:13,480 --> 01:05:16,920 I don't run any advertisements on Myntra. 1374 01:05:17,000 --> 01:05:18,640 We've got 4.7 stars there. 1375 01:05:18,720 --> 01:05:21,800 Myntra has given us an organic tag of the rising star. 1376 01:05:22,000 --> 01:05:24,160 So, these things validate 1377 01:05:24,240 --> 01:05:26,720 that we have created something people like. 1378 01:05:26,840 --> 01:05:28,200 If people like it, 1379 01:05:28,280 --> 01:05:32,000 we will definitely be profitable if we scale it well 1380 01:05:32,120 --> 01:05:33,720 in the future. 1381 01:05:34,040 --> 01:05:37,800 I know certain things based on the work I have done. 1382 01:05:38,000 --> 01:05:40,480 But I will need help, and I want it. 1383 01:05:40,560 --> 01:05:42,440 So, I am here to seek that help. 1384 01:05:42,520 --> 01:05:44,560 If you help me, 1385 01:05:44,680 --> 01:05:47,640 I will get answers that I lack. 1386 01:05:47,760 --> 01:05:49,400 How much money do you have in the bank right now? 1387 01:05:49,400 --> 01:05:50,760 I have Rs 2.4 crores. 1388 01:05:50,880 --> 01:05:53,040 - Are you raising funds outside? - No. 1389 01:05:53,120 --> 01:05:55,120 - Will you do it in the near future? - No. 1390 01:05:55,960 --> 01:05:58,600 Should the interested ones give an offer? 1391 01:06:00,120 --> 01:06:03,760 - Yeah. Rs 2 lakhs for 0.5 per cent. - So, I am interested. Are you? 1392 01:06:03,840 --> 01:06:04,560 Yes or no? 1393 01:06:04,640 --> 01:06:05,680 I would say one thing. 1394 01:06:05,760 --> 01:06:08,480 You don't know many things right now. 1395 01:06:08,560 --> 01:06:10,720 Neither did I know everything when I started out. 1396 01:06:11,160 --> 01:06:12,840 But that's how we will learn. 1397 01:06:16,400 --> 01:06:18,240 So, Aman is in. I am in. 1398 01:06:18,360 --> 01:06:20,280 - Anupam? - What are you thinking? 1399 01:06:20,360 --> 01:06:22,880 He said Rs 10 lakh for 2.5 per cent. 1400 01:06:23,080 --> 01:06:24,960 - So, are you in or out? - You proposed that offer. 1401 01:06:24,960 --> 01:06:27,120 He asked Rs 10 for 1 per cent. 1402 01:06:27,200 --> 01:06:30,160 - She proposed. - Yes. I proposed Rs 2 lakhs for 0.5 per cent. 1403 01:06:30,240 --> 01:06:32,680 Ashutosh, what do you want? 1404 01:06:33,160 --> 01:06:34,360 I want you guys. 1405 01:06:35,440 --> 01:06:36,840 Give one per cent to each of us 1406 01:06:36,920 --> 01:06:39,480 so we will also feel like doing it. Otherwise, things won't work out. 1407 01:06:39,480 --> 01:06:41,600 Give one per cent to each of us and tell us the value. 1408 01:06:43,680 --> 01:06:45,120 I'll make a deal for you. 1409 01:06:46,200 --> 01:06:49,920 Take Rs 10 lakhs from us and give each one of us 1 per cent. 1410 01:06:50,000 --> 01:06:51,760 We'll do Rs 10 lakhs collectively. 1411 01:06:53,320 --> 01:06:55,040 - No. Let's do 2.5 per cent. - 2.5 per cent. 1412 01:06:55,120 --> 01:06:57,000 - Anupam, no. - He has already agreed to 5 per cent. 1413 01:06:57,000 --> 01:06:58,120 No, but let's do 2.5 per cent. 1414 01:06:58,160 --> 01:06:59,200 Rs 10 lakh for 5 per cent! 1415 01:06:59,200 --> 01:07:00,840 - It's not a valuation. - But you need to figure out... 1416 01:07:00,880 --> 01:07:03,600 He needs time. He needs help. 1417 01:07:10,760 --> 01:07:12,960 Let's do this. Namita will take 0.5 per cent. 1418 01:07:13,040 --> 01:07:14,120 Yeah. I don't mind taking less. 1419 01:07:14,120 --> 01:07:15,840 - Vineeta, will take 0.5 per cent. - Yeah. 1420 01:07:15,920 --> 01:07:17,480 Aman and I will take 1 per cent each. 1421 01:07:17,560 --> 01:07:18,840 - Me, too. - I'm fine with that. 1422 01:07:18,920 --> 01:07:20,680 - Peyush is also taking 1 per cent. - Fine! 1423 01:07:20,760 --> 01:07:21,840 I can't take 1 per cent. 1424 01:07:21,920 --> 01:07:25,880 It's good. You saved 1 per cent. So, it becomes 4 per cent. 1425 01:07:26,600 --> 01:07:29,000 Can we take what they aren't? 1426 01:07:29,920 --> 01:07:31,360 - We can do that, too. - Superb! 1427 01:07:31,440 --> 01:07:34,000 Please leave these jackets for us. 1428 01:07:34,080 --> 01:07:35,200 Don't take these jackets, at least. 1429 01:07:35,240 --> 01:07:37,000 - I was merely asking. - Here. Take these, too. 1430 01:07:37,000 --> 01:07:38,440 Take these, too. 1431 01:07:38,560 --> 01:07:39,320 I will take it. I don't mind. 1432 01:07:39,400 --> 01:07:42,240 Let him earn some profit. 1433 01:07:42,360 --> 01:07:43,360 It sums up to 4 per cent. 1434 01:07:51,240 --> 01:07:52,520 [laughing] 1435 01:07:54,640 --> 01:07:56,800 I came ready to part ways with 5 per cent. 1436 01:07:56,880 --> 01:07:57,880 Did you see that? 1437 01:07:59,440 --> 01:08:02,560 - You can still give us. Give it! - No. 1438 01:08:03,760 --> 01:08:06,040 [triumphant music playing] 1439 01:08:12,120 --> 01:08:15,720 and getting a Five-Shark deal for the second time. 1440 01:08:15,840 --> 01:08:17,240 It's like a dream come true. 1441 01:08:17,480 --> 01:08:19,560 I want to give this message to all the entrepreneurs. 1442 01:08:19,560 --> 01:08:22,640 Please don't make the mistake I made the first time. 1443 01:08:22,720 --> 01:08:24,320 Have faith in yourself. 1444 01:08:24,400 --> 01:08:26,320 Even if you're unsuccessful, 1445 01:08:26,480 --> 01:08:29,960 give yourself a second chance, and the world will follow. 1446 01:08:30,440 --> 01:08:31,600 - Hello, Ashutosh. - Hi. 1447 01:08:31,760 --> 01:08:34,600 Welcome to the PokerBaazi zone, where you hold the card. 1448 01:08:34,680 --> 01:08:36,640 - How was your experience inside? - Very nice. 1449 01:08:41,080 --> 01:08:43,720 - What a journey! Very inspiring! - Thank you so much. 1450 01:08:43,800 --> 01:08:45,760 There are many similarities between Poker and business. 1451 01:08:45,800 --> 01:08:47,280 The game can flip at any time in both of these. 1452 01:08:47,320 --> 01:08:49,680 You've experienced it. It flipped twice for you. 1453 01:09:14,480 --> 01:09:17,040 That's when we've cracked something, but much work is still left. 1454 01:09:17,080 --> 01:09:18,120 Then comes the maturity phase. 1455 01:09:18,160 --> 01:09:20,360 That's when you succeed. 1456 01:09:20,600 --> 01:09:23,560 I want you to tell us about an incident from your journey 1457 01:09:23,800 --> 01:09:25,160 during one of these phases. 1458 01:09:25,280 --> 01:09:28,000 I am not applicable to the two phases, 1459 01:09:28,080 --> 01:09:31,520 - growth and maturity, because we are new. - Yes. 1460 01:09:31,600 --> 01:09:33,640 In the Introductory phase, I want to share the story 1461 01:09:33,680 --> 01:09:36,160 of how I started Offmint. 1462 01:09:36,480 --> 01:09:38,760 So, I implemented Sharks' feedback 1463 01:09:38,840 --> 01:09:41,080 and left my last brand. 1464 01:09:41,160 --> 01:09:43,520 After that, I started my new brand. 1465 01:09:43,600 --> 01:09:45,440 That's why I am here today. 1466 01:09:45,520 --> 01:09:48,600 The Sharks have trusted me again, and I am so glad. 1467 01:09:48,720 --> 01:09:51,480 - Wow! I enjoyed talking to you. - Thank you. 1468 01:09:51,560 --> 01:09:55,000 I looked at the cards. Had this been our hand, 1469 01:09:55,120 --> 01:09:57,760 it would've been Straight Flush, the second-strongest winning hand. 1470 01:10:23,160 --> 01:10:24,160 and make a winning hand. 1471 01:10:24,160 --> 01:10:25,880 Download PokerBaazi now. 1472 01:10:35,200 --> 01:10:38,040 would like to wish you all the very best. 1473 01:10:38,320 --> 01:10:42,320 We have the Executive Director of Emcure Pharma, Namita Thapar. 1474 01:10:46,240 --> 01:10:49,720 I'm a huge fan of all your catchphrases. 1475 01:10:49,800 --> 01:10:50,560 Oh, God! 1476 01:10:50,640 --> 01:10:53,640 - I love it. - I've become a walking meme. 1477 01:10:53,720 --> 01:10:55,840 As long as people are talking about you, you've done well. 1478 01:10:55,840 --> 01:10:56,840 Thank you. 1479 01:10:56,960 --> 01:10:59,320 Today's question is from a very young girl. 1480 01:10:59,400 --> 01:11:01,920 She's a 19-year-old girl, Radhika, from Darjeeling. 1481 01:11:02,000 --> 01:11:03,520 Her question is this. 'Namita ma'am,' 1482 01:11:16,160 --> 01:11:18,960 At a personal level, my fashion inspiration is my mother. 1483 01:11:19,080 --> 01:11:21,600 She is a very graceful and classy lady. 1484 01:11:21,680 --> 01:11:25,240 When it comes to filmstars, I have an odd combination. 1485 01:11:58,720 --> 01:12:01,480 - Thank you so much for answering that question. - Thank you. 1486 01:12:01,560 --> 01:12:04,000 With new questions and a new Shark, 1487 01:12:04,120 --> 01:12:06,560 see you again in Ask the Shark.