1 00:00:20,320 --> 00:00:22,120 [clanking] 2 00:00:24,800 --> 00:00:25,800 [table screeching] 3 00:00:32,080 --> 00:00:33,520 [music playing] 4 00:00:46,640 --> 00:00:48,160 [music concludes] 5 00:00:50,240 --> 00:00:51,880 [theme music playing] 6 00:01:13,760 --> 00:01:14,920 [theme music concludes] 7 00:01:15,000 --> 00:01:19,080 Sharks, what India needs today is a power-up. 8 00:01:19,680 --> 00:01:24,400 Over 80% of Indians are deficient in micronutrients. 9 00:01:28,760 --> 00:01:32,440 protein, calcium and provitamin A. 10 00:01:33,000 --> 00:01:37,960 Why isn't our food able to meet our body's nutritional requirements? 11 00:01:38,520 --> 00:01:40,160 After the Green Revolution, 12 00:01:46,640 --> 00:01:49,120 we seem to have left nutrition behind. 13 00:01:49,640 --> 00:01:52,880 Imagine if we got all the essential nutrients 14 00:01:52,960 --> 00:01:54,360 from our food itself 15 00:01:54,520 --> 00:01:58,000 without having to make any dietary changes. 16 00:01:58,160 --> 00:01:59,480 Isn't that a power-up? 17 00:02:00,080 --> 00:02:01,080 Greetings, Sharks. 18 00:02:08,760 --> 00:02:10,200 Greenday is India's first 19 00:02:10,280 --> 00:02:13,560 and premier biofortified food-focused company. 20 00:02:24,440 --> 00:02:27,240 and protein at the agricultural level, 21 00:02:27,320 --> 00:02:31,600 providing the common man, who consumes roti and rice, 22 00:02:31,720 --> 00:02:34,800 with all the required nutrients in sufficient quantities. 23 00:02:35,720 --> 00:02:41,360 We provide the farmers with those biofortified seeds. 24 00:02:41,520 --> 00:02:42,560 And not just that, 25 00:02:42,640 --> 00:02:46,400 we even buy their nutritious yield from the farmers 26 00:02:46,680 --> 00:02:50,080 and sell it through our brand Better Nutrition. 27 00:02:56,600 --> 00:03:00,440 and we're powering up nutrition at every level. 28 00:03:01,360 --> 00:03:04,040 Greenday's 15,000 farmers 29 00:03:04,160 --> 00:03:06,960 and 100 rural microentrepreneurs 30 00:03:10,200 --> 00:03:12,080 Not only are they making profits 31 00:03:12,200 --> 00:03:14,960 but are also fighting serious issues like anaemia 32 00:03:15,040 --> 00:03:18,960 caused by the deficiency of micronutrients 33 00:03:19,040 --> 00:03:20,520 in their rural communities. 34 00:03:20,880 --> 00:03:21,880 Sharks, 35 00:03:22,160 --> 00:03:24,680 nutrition is everybody's right. 36 00:03:24,920 --> 00:03:28,920 We want our food to not just satiate our hunger 37 00:03:29,280 --> 00:03:31,840 but provide our body with nutrition as well. 38 00:03:31,960 --> 00:03:33,680 Our ask is 39 00:03:33,960 --> 00:03:38,160 Rs. 60 lakhs in exchange for 1% equity in our company. 40 00:03:38,640 --> 00:03:39,640 Come on, Sharks. 41 00:03:42,000 --> 00:03:44,480 with better seeds and nutrition. 42 00:03:45,880 --> 00:03:47,760 - Aishwarya and Prateek! - Yes. 43 00:03:47,840 --> 00:03:50,200 - Welcome to Shark Tank Season 4. - Thank you. 44 00:03:50,280 --> 00:03:53,760 It feels great to hear that 15,000 farmers and 100 micro-entrepreneurs 45 00:03:53,840 --> 00:03:55,240 are associated with you. 46 00:03:55,520 --> 00:03:57,480 We'd like to hear more about that. 47 00:03:57,560 --> 00:04:00,160 First, tell us how you know each other 48 00:04:00,240 --> 00:04:01,520 and what brought you to this field. 49 00:04:01,560 --> 00:04:04,480 From Shri Ram College of Commerce, Delhi University, 50 00:04:04,560 --> 00:04:06,560 - I got a degree in Economics Honours. - Very nice. 51 00:04:06,640 --> 00:04:08,680 From Indian Institute of Management Ahmedabad, 52 00:04:12,240 --> 00:04:14,160 Oh, you're way too junior compared to me. 53 00:04:14,280 --> 00:04:15,160 [all laugh] 54 00:04:15,240 --> 00:04:17,160 - I'm from the 2007 batch. - Yes. 55 00:04:17,240 --> 00:04:21,280 I took up a job after that in Strategy& as a consultant. 56 00:04:21,480 --> 00:04:22,920 I always wanted 57 00:04:23,000 --> 00:04:27,040 the work I do should to contribute to nation-building. 58 00:04:28,200 --> 00:04:29,440 I had a good education 59 00:04:29,520 --> 00:04:33,560 and I wanted my work to create a profound impact. 60 00:04:33,760 --> 00:04:36,080 I chose the agritech sector. 61 00:04:36,200 --> 00:04:38,560 I was doing R&D in 2018-19, 62 00:04:38,720 --> 00:04:41,440 that's when I met Aishwarya. 63 00:04:41,840 --> 00:04:45,000 I did my graduation in Food Science & Nutrition 64 00:04:45,080 --> 00:04:46,200 from IHM Mumbai. 65 00:04:46,440 --> 00:04:49,880 Then I worked as a chef for some time at Oberoi's. 66 00:04:50,280 --> 00:04:53,680 I did my MBA. I was working in ICICI Securities. 67 00:04:53,960 --> 00:04:56,680 - All thanks to Anupam, we met after that. - Whoa! 68 00:04:56,760 --> 00:04:58,120 - Oh, wow! - [laughs] 69 00:04:58,200 --> 00:05:00,080 All thanks to Anupam or Shaadi.com? 70 00:05:00,160 --> 00:05:01,640 - Shaadi.com. - Shaadi.com. 71 00:05:02,440 --> 00:05:03,920 When did you get married? 72 00:05:04,000 --> 00:05:05,760 - In December 2018. - 20... 73 00:05:05,840 --> 00:05:07,520 2018. And when did you start this business? 74 00:05:07,640 --> 00:05:10,520 We were in the R&D phase in 2018-19. 75 00:05:11,000 --> 00:05:14,480 We began commercialising in January 2020. 76 00:05:14,640 --> 00:05:18,200 We brought the Greenday model into the market 77 00:05:18,320 --> 00:05:20,360 and began working with farmers. 78 00:05:20,560 --> 00:05:23,960 The period during 2018, 2020 and 2022, 79 00:05:24,120 --> 00:05:27,760 we lived in Sitapur... 80 00:05:27,840 --> 00:05:29,640 It's a village near Lucknow. 81 00:05:29,720 --> 00:05:33,960 We lived there for 2.5 years with the farmers in the villages. 82 00:05:34,200 --> 00:05:37,280 We worked with them and learned so much. 83 00:05:37,440 --> 00:05:40,040 - You both lived in a village in Sitapur. - Yes. 84 00:05:40,160 --> 00:05:43,320 - As in, you were based out of there for 2 years. - 2.5 years. 85 00:05:43,400 --> 00:05:45,160 - 2.5 years! - Yes. 86 00:05:46,040 --> 00:05:49,520 Did this idea come to you both after your marriage 87 00:05:49,640 --> 00:05:50,840 that you need to 88 00:05:55,400 --> 00:05:59,160 No. He was already working on nutrient-dense farming. 89 00:05:59,240 --> 00:06:00,760 He was researching that. 90 00:06:00,880 --> 00:06:02,280 Then we got married 91 00:06:02,360 --> 00:06:04,600 and then we made a conscious decision 92 00:06:04,680 --> 00:06:06,880 to go and stay at the farms in the village. 93 00:06:06,960 --> 00:06:09,440 It mustn't have been an easy decision for a husband and wife. 94 00:06:09,520 --> 00:06:11,440 If the husband wants to go, the wife might not want to. 95 00:06:11,440 --> 00:06:13,040 He convinced me. 96 00:06:13,120 --> 00:06:14,560 But you were initially hesitant. 97 00:06:17,800 --> 00:06:19,440 - A year into our marriage... - Well, 98 00:06:19,520 --> 00:06:22,040 he was nowhere close to a village in Strategy&. 99 00:06:22,120 --> 00:06:23,520 - Right. - Yes. 100 00:06:23,800 --> 00:06:29,120 I feel that our genetics are definitely based on rural areas. 101 00:06:29,200 --> 00:06:31,800 And somewhere, we naturally gravitate. 102 00:06:32,520 --> 00:06:35,280 The village atmosphere is very attractive. 103 00:06:35,440 --> 00:06:37,520 And growing up too, 104 00:06:37,600 --> 00:06:40,680 I had a willingness to visit the villages, 105 00:06:40,760 --> 00:06:42,760 experience the environment there. 106 00:06:42,840 --> 00:06:45,560 We'd hear things about our land and fields in the movies. 107 00:06:45,640 --> 00:06:49,800 When we discussed things, we thought we should take this step. 108 00:06:49,880 --> 00:06:51,120 There will definitely be learning 109 00:06:51,120 --> 00:06:54,040 and it'll be a once-in-a-lifetime experience. 110 00:06:54,120 --> 00:06:56,560 It was an exciting challenge, so we took it up. 111 00:06:57,800 --> 00:06:59,680 In comparison to the life in Lucknow, 112 00:06:59,760 --> 00:07:01,520 village life was very slow. 113 00:07:01,600 --> 00:07:03,640 There was no infrastructure. 114 00:07:03,720 --> 00:07:04,920 We stayed in a warehouse 115 00:07:05,040 --> 00:07:07,840 - which we converted into a room cum office. - Oh! 116 00:07:07,920 --> 00:07:09,840 We lived next to the fields. 117 00:07:10,960 --> 00:07:12,960 We could interact with the farmers more. 118 00:07:13,040 --> 00:07:14,560 We could sit and talk to them. 119 00:07:14,640 --> 00:07:17,400 And by then, you had enough earnings 120 00:07:17,480 --> 00:07:20,960 - to sustain for the next few years... - No. We had no savings. 121 00:07:21,080 --> 00:07:23,480 - No... - You were in consulting which is usually well-paying. 122 00:07:23,640 --> 00:07:26,360 Yes. I worked for a year, Peyush. 123 00:07:26,440 --> 00:07:27,800 We had very limited savings 124 00:07:27,880 --> 00:07:30,320 which obviously we invested into starting the business. 125 00:07:30,480 --> 00:07:31,800 However, there was an intent... 126 00:07:31,880 --> 00:07:34,360 When we lived in the rural areas, 127 00:07:34,520 --> 00:07:37,000 along with the learning, 128 00:07:37,080 --> 00:07:40,080 our cost of living also drastically came down. 129 00:07:40,200 --> 00:07:44,160 In fact, we got by in Rs. 20,000-25,000 a month. 130 00:07:44,240 --> 00:07:46,520 - Groceries and everything else. - Less than that. 131 00:07:46,600 --> 00:07:48,080 We got by in less than that. 132 00:07:48,160 --> 00:07:49,680 What did your parents say? 133 00:07:49,880 --> 00:07:51,560 - They were very happy. - They were happy! 134 00:07:51,640 --> 00:07:52,840 - "Go and learn." - Yes. 135 00:07:53,080 --> 00:07:56,600 There was a calling in me, a very strong calling. 136 00:07:56,720 --> 00:07:59,680 That I had to move towards something nation-building 137 00:07:59,760 --> 00:08:01,920 and a start-up. 138 00:08:02,000 --> 00:08:04,640 And agritech was the sector that I chose. 139 00:08:04,840 --> 00:08:08,120 I think it has been a very rewarding journey over the last... 140 00:08:08,200 --> 00:08:09,360 Let me tell you the fact. 141 00:08:09,680 --> 00:08:11,680 You went on an extended honeymoon. 142 00:08:11,840 --> 00:08:13,600 [all laugh] 143 00:08:13,720 --> 00:08:15,840 Right? You went away for two years. 144 00:08:18,160 --> 00:08:20,240 - Food should be your medicine... - Yes. 145 00:08:20,320 --> 00:08:21,960 To take care of all your health needs. 146 00:08:22,040 --> 00:08:23,600 I think that's a brilliant point. 147 00:08:23,800 --> 00:08:26,360 You went in that direction, that's wonderful. 148 00:08:31,560 --> 00:08:35,520 - But one-fourth of the world's undernourished live in India. - Yes. 149 00:08:41,960 --> 00:08:43,760 Okay? So, I'm very happy... 150 00:08:43,840 --> 00:08:45,640 I'm from Ahmedabad and... 151 00:08:45,880 --> 00:08:49,200 People with your background and intellect are going to villages, 152 00:08:49,280 --> 00:08:51,480 - understanding the issues and starting this. - Yes. 153 00:08:51,600 --> 00:08:53,800 Help me understand something. I love your logo by the way. 154 00:08:53,800 --> 00:08:57,120 - Green is always associated with health. - Yes. 155 00:08:57,200 --> 00:08:58,760 So, I love the colour 156 00:08:58,840 --> 00:09:00,800 and I love the 'begins with better seeds'. 157 00:09:01,000 --> 00:09:03,120 Tell me a little bit more about 158 00:09:03,200 --> 00:09:06,160 how you will bring about this health revolution 159 00:09:06,240 --> 00:09:07,240 through your seeds. 160 00:09:07,320 --> 00:09:08,880 Explain the customer journey. 161 00:09:08,960 --> 00:09:10,560 - Can I just pause for a second? - Yes. 162 00:09:10,640 --> 00:09:12,840 - Sharks, would you like to taste something? - Yes! 163 00:09:12,920 --> 00:09:14,600 - Oh, that's the best! - Yes, please. 164 00:09:14,680 --> 00:09:16,560 The best start to the customer journey. 165 00:09:16,640 --> 00:09:18,040 [light-hearted music playing] 166 00:09:19,040 --> 00:09:21,680 Oh, wow! You brought an entire meal! 167 00:09:21,760 --> 00:09:23,760 These are made out of all our products. 168 00:09:23,840 --> 00:09:25,560 This looks so healthy too. 169 00:09:25,840 --> 00:09:27,320 - Wheat 'laddoo'! Wow! - Anupam. 170 00:09:27,400 --> 00:09:28,200 I'm so excited. 171 00:09:28,320 --> 00:09:30,040 - You're lactose-intolerant. - Yes. 172 00:09:30,120 --> 00:09:33,440 - So, we've made 'masala bhat' instead of curd rice. - Okay. 173 00:09:33,600 --> 00:09:35,200 - Perfect. - And these cookies 174 00:09:35,280 --> 00:09:36,920 - are lactose-free. - Thank you. 175 00:09:37,040 --> 00:09:38,760 Love it! Wheat 'laddoo'! 176 00:09:38,880 --> 00:09:40,240 - Thank you. - Stuffed paratha. 177 00:09:40,320 --> 00:09:41,880 This 'laddoo' has ghee. 178 00:09:42,000 --> 00:09:44,080 - I eat loads of ghee. - Okay, then. 179 00:09:46,120 --> 00:09:48,040 I love the presentation. 180 00:09:50,320 --> 00:09:52,000 The wheat 'laddoo' is yum. 181 00:09:52,160 --> 00:09:54,160 It has wheat, jaggery and ghee. That's it. 182 00:09:54,320 --> 00:09:56,440 Wow! I love it. 183 00:10:11,840 --> 00:10:13,640 We selected such varieties... 184 00:10:13,720 --> 00:10:15,880 Seed selection is one of the important areas. 185 00:10:15,960 --> 00:10:18,160 They are very high in nutrition. 186 00:10:18,240 --> 00:10:20,360 Zinc, iron, protein, calcium, provitamin A... 187 00:10:20,480 --> 00:10:22,000 Their levels and enhanced. 188 00:10:22,120 --> 00:10:25,920 Normal flour has less than 1 mg of zinc 189 00:10:48,560 --> 00:10:50,040 - And vitamins will be complete. - Yes. 190 00:10:50,040 --> 00:10:51,320 At least 50%. 191 00:10:51,440 --> 00:10:55,040 The rest 50% can be obtained from other complementary foods or fruits. 192 00:10:55,120 --> 00:10:56,640 - You can get it from there. - Got it. 193 00:10:57,160 --> 00:10:58,840 I just went and saw your packaging. 194 00:10:58,920 --> 00:11:00,800 By the way, congrats on getting PV Sindhu. 195 00:11:01,920 --> 00:11:02,800 Thank you so much. 196 00:11:02,880 --> 00:11:04,360 You know, one important question. 197 00:11:04,440 --> 00:11:06,640 I've read that many FMCG companies 198 00:11:06,720 --> 00:11:10,440 now sell immunity flour and cholesterol-free ghee. 199 00:11:10,600 --> 00:11:12,520 It's almost like a done thing. 200 00:11:12,760 --> 00:11:14,640 So, how do you deal with that? 201 00:11:14,760 --> 00:11:16,600 The category of staples 202 00:11:16,720 --> 00:11:19,680 is largely an under-innovated category. 203 00:11:19,800 --> 00:11:22,680 Fortified foods are available in the market already, 204 00:11:22,800 --> 00:11:26,080 but the addition was through an artificial method. 205 00:11:26,160 --> 00:11:29,360 However, the future of farming is biofortification. 206 00:11:29,440 --> 00:11:33,280 Farmers can naturally create this in their fields. 207 00:11:33,440 --> 00:11:36,920 There are 3 to 4 interventions today that our company deploys. 208 00:11:37,080 --> 00:11:39,160 The first is seed innovation. 209 00:11:39,320 --> 00:11:42,000 Then comes soil fortification. 210 00:11:42,320 --> 00:11:44,520 When the plant grows, 211 00:11:44,600 --> 00:11:46,560 you fortify its ecosystem. 212 00:11:46,640 --> 00:11:50,800 The grain that finally develops is naturally rich in nutrition. 213 00:11:50,880 --> 00:11:55,160 - Coming to your supply chain of seed fortification. - Yes. 214 00:11:55,280 --> 00:11:57,040 You say others do it at the milling stage 215 00:11:57,120 --> 00:11:58,800 - whereas you do it at the seed stage. - Yes. 216 00:11:58,840 --> 00:12:01,680 Right? Does this change a health benefit 217 00:12:01,760 --> 00:12:04,400 or is it just a cool thing that this is bio and that's non-bio? 218 00:12:04,480 --> 00:12:06,640 When we want to provide nutrition to the body, 219 00:12:06,760 --> 00:12:08,400 that's possible through two mechanisms. 220 00:12:08,520 --> 00:12:11,360 You could consume nutrients through a natural or an artificial source. 221 00:12:11,840 --> 00:12:14,720 Artificial is not good for the consumer story 222 00:12:14,800 --> 00:12:17,080 and has multiple health disadvantages. 223 00:12:17,320 --> 00:12:19,240 - For example... - You do it artificially too! 224 00:12:19,320 --> 00:12:20,520 At the seed level. 225 00:12:20,600 --> 00:12:22,320 No. It's a 100% natural process. 226 00:12:22,400 --> 00:12:24,840 It's just that we chose a seed 227 00:12:24,920 --> 00:12:28,000 which is better for its nutritional properties. 228 00:12:28,440 --> 00:12:31,160 We offer a variety-specific flour. 229 00:12:31,240 --> 00:12:33,560 The main value addition of that variety 230 00:12:33,640 --> 00:12:35,320 is its superior nutritional value. 231 00:12:35,400 --> 00:12:37,240 - And 100% naturally. - So, you are not 232 00:12:37,320 --> 00:12:38,880 - making any addition to the seed. - None. 233 00:12:38,920 --> 00:12:42,000 - You merely take a certain breed of seed... - Yes. 234 00:12:42,080 --> 00:12:43,800 And pack and sell it. 235 00:12:43,920 --> 00:12:47,800 We're providing enough nutrients in the soil ecosystem 236 00:12:47,920 --> 00:12:50,400 so that when the seed is growing into a plant, 237 00:12:50,520 --> 00:12:52,800 it can draw enough nutrition from the soil. 238 00:12:52,920 --> 00:12:54,520 Do you provide that soil? 239 00:12:54,800 --> 00:12:56,440 We provide the nutrients in the soil. 240 00:12:56,560 --> 00:12:57,880 Coming to Greenday. 241 00:12:58,040 --> 00:13:00,360 Is it sold on the website or in stores as well? 242 00:13:00,440 --> 00:13:03,440 We've created a network of almost 100 micro-entrepreneurs. 243 00:13:03,520 --> 00:13:05,000 - Offline? - Yes, offline. 244 00:13:05,080 --> 00:13:06,080 Got it, thank you. 245 00:13:06,440 --> 00:13:08,560 Prateek, you didn't mention an important fact. 246 00:13:11,000 --> 00:13:12,880 - We've met before. - Yes. 247 00:13:13,600 --> 00:13:16,600 - We were this close to investing in you. - Yes. 248 00:13:16,640 --> 00:13:17,760 We were very keen, 249 00:13:17,840 --> 00:13:20,640 but there were some gaps in terms of understanding. 250 00:13:20,720 --> 00:13:24,240 This two-sided business you were running, 251 00:13:24,360 --> 00:13:26,640 you were providing the seeds 252 00:13:26,720 --> 00:13:29,920 - as well as procuring them and building a B2C brand too. - Yes. 253 00:13:30,040 --> 00:13:33,000 A year ago, it wasn't clear how this would play out 254 00:13:33,160 --> 00:13:36,360 and which part of it would become the main business. 255 00:13:36,480 --> 00:13:39,600 - I think it was a work in progress back then. - Right. 256 00:13:39,680 --> 00:13:42,520 - I guess we met in October 2023. - Yes. 257 00:13:42,600 --> 00:13:44,080 You were very impressive. 258 00:13:44,160 --> 00:13:47,520 I think one of the best founders I've met in the last one or two years. 259 00:13:47,600 --> 00:13:49,320 - Oh, wow! - Thank you so much, Kunal. 260 00:13:54,280 --> 00:13:56,920 Perhaps, what didn't happen last year might happen today. 261 00:13:57,120 --> 00:13:59,000 Thank you so much, Kunal. We look forward to it. 262 00:13:59,160 --> 00:14:02,920 When we met, our brand had just gone into the testing phase. 263 00:14:03,400 --> 00:14:04,560 If we look at our journey, 264 00:14:04,640 --> 00:14:08,400 we definitely wanted to solve a consumer-education front 265 00:14:08,480 --> 00:14:10,240 very aggressively. 266 00:14:10,360 --> 00:14:12,920 We saw some major achievements in that phase. 267 00:14:13,000 --> 00:14:16,240 We associated with Olympic medallist PV Sindhu. 268 00:14:16,960 --> 00:14:19,120 She became a user of our product 269 00:14:19,320 --> 00:14:21,480 as well as invested in our company, 270 00:14:21,560 --> 00:14:24,040 and even became the brand ambassador of our company. 271 00:14:24,160 --> 00:14:27,000 Along with that, MasterChef Mrs. Pankaj Bhadouria 272 00:14:27,120 --> 00:14:29,120 became an investor in the company on a similar model. 273 00:14:29,120 --> 00:14:30,360 She's our brand ambassador. 274 00:14:30,440 --> 00:14:33,400 So, the best of the sports world and the culinary world, 275 00:14:33,480 --> 00:14:36,520 these two women are now leading the consumer education bit 276 00:14:36,680 --> 00:14:38,120 for our company. 277 00:14:38,240 --> 00:14:40,320 From years 2020 to 2024, 278 00:14:40,440 --> 00:14:45,640 our main revenue came from selling seeds to farmers. 279 00:14:45,760 --> 00:14:49,880 That's how we touched a mark of Rs. 10.3 crores. 280 00:14:50,000 --> 00:14:51,480 - Net revenue? - Net revenue. 281 00:14:51,680 --> 00:14:55,640 This year, we're on our way to hit a turnover of Rs. 14 crores. 282 00:15:04,040 --> 00:15:08,000 and our FMCG has generated a revenue of Rs. 70 lakhs this year, 283 00:15:08,120 --> 00:15:09,960 which will go to Rs. 1.5 crores. 284 00:15:14,600 --> 00:15:16,720 - Flour is Rs. 100 per kg. - Okay. 285 00:15:17,040 --> 00:15:19,320 - Rice is Rs. 200 per kg. - Okay. 286 00:15:19,440 --> 00:15:21,280 - Multigrain is Rs. 135. - Okay. 287 00:15:21,400 --> 00:15:23,160 Broken wheat is Rs. 115. 288 00:15:23,360 --> 00:15:25,200 Pearl millet is around Rs. 120. 289 00:15:25,320 --> 00:15:28,240 Finger millet is a bit expensive. It's Rs. 155 per kg. 290 00:15:28,320 --> 00:15:31,640 If we were to buy regular grains that are non-fortified, 291 00:15:31,720 --> 00:15:33,480 what are their prices in comparison? 292 00:15:33,560 --> 00:15:35,280 - Let's take flour as the benchmark. - Okay. 293 00:15:55,280 --> 00:15:57,880 is similar to the bulk category of Rs. 40, 294 00:15:57,960 --> 00:15:59,920 we buy at almost the same price point. 295 00:16:00,040 --> 00:16:01,480 So, in the long run, 296 00:16:01,560 --> 00:16:04,880 there's a 100% scope to bring the prices down 297 00:16:05,040 --> 00:16:08,040 - and sell it to the masses. - Yes. 298 00:16:08,160 --> 00:16:12,680 This is a category whose revenue won't stop at Rs. 300 to 400 crores. 299 00:16:12,840 --> 00:16:16,440 We could create a brand that's up to Rs. 10,000 crores 300 00:16:16,520 --> 00:16:19,000 over the next 15 years of the journey. 301 00:16:19,080 --> 00:16:20,360 You're right, 302 00:16:20,440 --> 00:16:22,440 but why haven't you already done it? 303 00:16:23,440 --> 00:16:26,240 You're market skimming with a 20% premium now. 304 00:16:34,000 --> 00:16:37,080 When we sell on any quick commerce player today, 305 00:16:37,320 --> 00:16:39,960 our gross profitability comes to around 40% 306 00:16:40,040 --> 00:16:42,160 and the net profit comes to 20%. 307 00:16:42,400 --> 00:16:44,560 Tell us the gross and net profits for both Greenday 308 00:16:44,680 --> 00:16:45,920 and Better Nutrition individually. 309 00:16:45,920 --> 00:16:47,560 In our Better Nutrition brand, 310 00:16:47,680 --> 00:16:50,000 our CM1 comes to 40%. 311 00:16:50,480 --> 00:16:51,680 Our COGS is 32%, 312 00:16:51,800 --> 00:16:53,840 our forward logistics is 8%, 313 00:16:53,960 --> 00:16:57,160 and our channel margins are 20%. 314 00:16:57,280 --> 00:17:00,040 That accounts for 60%. Our CM1 is 40%. 315 00:17:00,120 --> 00:17:02,480 Our customer acquisition cost is 20%. 316 00:17:02,560 --> 00:17:03,800 20% is our net profit. 317 00:17:03,920 --> 00:17:05,840 5% is taxed and we're left with 15%. 318 00:17:05,960 --> 00:17:07,680 We're at this price point now. 319 00:17:07,760 --> 00:17:10,080 We've just entered, so we can't bargain in quick commerce. 320 00:17:10,160 --> 00:17:12,200 - To maintain profitability... - Yes. 321 00:17:12,320 --> 00:17:14,640 - You've priced it at a premium. - Yes. 322 00:17:14,720 --> 00:17:16,360 That is one point. Here's the second. 323 00:17:16,440 --> 00:17:21,040 We did beta testing where we sold our products at a lower price. 324 00:17:21,120 --> 00:17:24,320 The feedback we got from the market was that the product is good, 325 00:17:24,400 --> 00:17:26,000 - but why is it priced so low? - Right. 326 00:17:26,120 --> 00:17:28,200 - It's consumer psychology. - Yes, right. 327 00:17:28,280 --> 00:17:31,480 So that the consumer understands why this product is at a premium. 328 00:17:31,600 --> 00:17:32,640 Correct. 329 00:17:34,680 --> 00:17:37,440 Okay. Tell us the unit economics of Greenday. 330 00:17:37,520 --> 00:17:39,360 Here's the unit economics of Greenday. 331 00:17:39,440 --> 00:17:43,200 - Our COGS is typically 60%. - Oh! 332 00:17:43,280 --> 00:17:47,080 Forward logistics is 5%. 333 00:17:47,160 --> 00:17:51,880 Our channel distribution margins are about 10%. 334 00:17:52,040 --> 00:17:55,240 That gives us a contribution margin of about 25%. 335 00:17:55,320 --> 00:17:56,440 The marketing is zero. 336 00:17:56,560 --> 00:17:58,240 - Marketing is about 5%. - 5%. 337 00:17:58,320 --> 00:18:00,280 That's around 20% net savings. 338 00:18:02,320 --> 00:18:07,160 'When you deduct the manufacturing and logistics cost from sales,' 339 00:18:07,400 --> 00:18:11,160 'you call it Contribution Margin 1 or CM1.' 340 00:18:11,600 --> 00:18:12,880 'When we deduct' 341 00:18:12,960 --> 00:18:15,400 'performance marketing costs from CM1,' 342 00:18:15,480 --> 00:18:17,200 'it is called CM2.' 343 00:18:17,680 --> 00:18:21,600 'When we deduct the branding costs from CM2,' 344 00:18:21,680 --> 00:18:23,680 'what you get is CM3.' 345 00:18:24,280 --> 00:18:26,040 'This metric is important because' 346 00:18:26,120 --> 00:18:28,840 'if the contribution margin is positive,' 347 00:18:29,200 --> 00:18:32,600 'then company-level profitability is achieved sooner.' 348 00:18:34,760 --> 00:18:36,440 What's your current fixed cost? 349 00:18:36,520 --> 00:18:40,520 Our monthly expenses are to the tune of around Rs. 20 lakhs 350 00:18:41,240 --> 00:18:44,480 which include salaries of Rs. 10 lakhs, 351 00:18:44,560 --> 00:18:46,680 overheads and expenses of Rs. 2 lakhs, 352 00:18:47,040 --> 00:18:51,200 and we spend almost Rs. 8 lakhs 353 00:18:51,280 --> 00:18:53,200 on acquiring new farmers. 354 00:18:53,400 --> 00:18:55,400 We already took that as a variable cost 355 00:18:55,480 --> 00:18:57,320 - to arrive at the CM3. - Right. 356 00:18:57,400 --> 00:18:59,640 - Is it 8% over and above that? - Yes. 357 00:18:59,800 --> 00:19:03,480 - Okay. So, the CM3 of 20% you mentioned... - Right. 358 00:19:03,560 --> 00:19:04,960 - For Greenday. - Greenday. 359 00:19:05,040 --> 00:19:07,040 - That's actually 12%. - Yes. 360 00:19:07,640 --> 00:19:10,320 Tell us last year's and this year's EBITDA so far. 361 00:19:10,440 --> 00:19:13,840 Last year, we were at an operating profit, 362 00:19:13,960 --> 00:19:15,440 but because we were creating a new brand, 363 00:19:15,440 --> 00:19:17,520 there was a Rs. 1-crore... 364 00:19:17,640 --> 00:19:19,200 Not operating, the total company EBITDA. 365 00:19:46,400 --> 00:19:49,320 We haven't aggressively raised funds as such. 366 00:19:49,440 --> 00:19:51,840 We raised a round in 2022 367 00:19:51,920 --> 00:19:54,200 which was for Rs. 3.1 crores. 368 00:19:54,400 --> 00:19:56,680 It was led by IIMA Ventures 369 00:19:56,800 --> 00:19:58,720 in which the IIMA alumni network 370 00:19:58,800 --> 00:20:00,920 as well as angels had participated. 371 00:20:01,000 --> 00:20:04,360 - Valuation? - The valuation was Rs. 25 crores. 372 00:20:05,280 --> 00:20:08,040 Then last year as well as this year, 373 00:20:08,120 --> 00:20:11,480 we raised two bridge rounds of almost Rs. 2 crores each. 374 00:20:11,560 --> 00:20:14,440 We were merely building the business in a stable manner. 375 00:20:14,520 --> 00:20:16,640 It wasn't a kind of aggressive scaling. 376 00:20:16,760 --> 00:20:17,800 Floor and cap? 377 00:20:17,960 --> 00:20:19,800 - Rs. 56 crores and 88 crores. - Okay. 378 00:20:20,360 --> 00:20:21,800 I'd like to make you an offer. 379 00:20:22,880 --> 00:20:24,440 Sure, thank you so much. 380 00:20:24,520 --> 00:20:27,560 India is moving towards health and I'm loving it. 381 00:20:27,680 --> 00:20:29,600 The direction you took, 382 00:20:29,680 --> 00:20:32,040 it was vertical integration with seeds 383 00:20:32,200 --> 00:20:33,560 and now the flour. 384 00:20:33,640 --> 00:20:35,160 It's been very well-thought of. 385 00:20:35,240 --> 00:20:37,800 Yours has been a sagacious journey. 386 00:20:38,000 --> 00:20:39,880 And who knows? If it becomes really big, 387 00:20:40,000 --> 00:20:41,440 after flour, you can go into 388 00:20:41,520 --> 00:20:44,800 - ready-to-eat cookies and bars and all of that as well. - Yes. 389 00:20:44,880 --> 00:20:46,600 I would like to make you an offer 390 00:20:46,920 --> 00:20:51,240 of Rs. 60 lakhs for 1.5% equity 391 00:20:52,080 --> 00:20:54,040 and when you turn profitable, 392 00:20:54,200 --> 00:20:57,280 I'd like to have a royalty of 1% on sales. 393 00:20:59,560 --> 00:21:01,560 Only till I get my principal back. 394 00:21:02,280 --> 00:21:05,480 I would love to be a part of making India healthy. 395 00:21:05,640 --> 00:21:06,960 Thank you so much for the offer. 396 00:21:07,800 --> 00:21:09,240 So, Aishwarya and Prateek! 397 00:21:09,320 --> 00:21:12,640 You used the word "nation-building" in your pitch. 398 00:21:12,840 --> 00:21:14,880 I believe that's a very empowering word. 399 00:21:16,360 --> 00:21:18,720 You know? You can give your life to nation-building. 400 00:21:19,520 --> 00:21:21,680 Coming to your pricing. 401 00:21:21,800 --> 00:21:23,880 I think it's an absolute sweet spot 402 00:21:23,960 --> 00:21:27,240 because all the D2C premium value-added brands 403 00:21:27,320 --> 00:21:28,880 that will emerge in India 404 00:21:29,040 --> 00:21:32,240 - will be at a 20% premium to mass category. - Yes. 405 00:21:32,320 --> 00:21:35,680 - Aspirations are everywhere including Tier 2 and 3. - Right. 406 00:21:35,880 --> 00:21:37,000 In 2030, 407 00:21:37,080 --> 00:21:39,480 - 90% of your business will be Better Nutrition. - Absolutely. 408 00:21:39,520 --> 00:21:41,640 So, I'll make you an offer. 409 00:21:43,600 --> 00:21:46,920 It's Rs. 60 lakhs for 2% equity, which is Rs. 30 crores. 410 00:21:47,000 --> 00:21:48,920 It's still valuing your Better Nutrition business 411 00:21:48,960 --> 00:21:53,000 at a value of 20 times its current revenue, 412 00:21:53,400 --> 00:21:54,640 but no royalty. 413 00:21:57,440 --> 00:21:58,960 Sure, thank you so much. 414 00:22:01,200 --> 00:22:04,240 What's your current inventory and cash in the bank? 415 00:22:04,320 --> 00:22:06,520 There's over Rs. 1.5 crores in cash. 416 00:22:06,600 --> 00:22:08,720 The inventory is about Rs. 1 crore. 417 00:22:16,600 --> 00:22:19,080 - you touched Rs. 10 crores in three years. - Yes. 418 00:22:19,160 --> 00:22:23,200 - Suddenly, your growth rate has slowed down. - Right. 419 00:22:23,360 --> 00:22:25,520 - It's 15 to 20% now. - Yes. 420 00:22:25,800 --> 00:22:27,760 Kunal, we are consciously controlling it. 421 00:22:27,840 --> 00:22:30,280 Our seed banks at the moment 422 00:22:30,360 --> 00:22:33,560 are in a way, our biggest competitive advantage. 423 00:22:33,760 --> 00:22:36,120 It is not readily available in the country. 424 00:22:36,240 --> 00:22:39,760 Because we have the seed banks now, we've created a capacity of farmers. 425 00:22:39,920 --> 00:22:43,000 We could procure a value of about Rs. 40-50 crores 426 00:22:43,080 --> 00:22:44,480 and build an urban bank. 427 00:22:44,560 --> 00:22:47,400 If I lean towards seeds, then I'm creating more competition. 428 00:22:47,480 --> 00:22:50,720 So, the yield from the remaining seeds 429 00:22:50,800 --> 00:22:52,560 - will be sold to competitors. - Yes. 430 00:22:52,640 --> 00:22:54,400 We won't be able to take any advantage of it. 431 00:22:55,520 --> 00:22:58,920 How many farmers signed up with you and how many left you? 432 00:22:59,320 --> 00:23:03,080 We've transacted with a total of 20,000 farmers to date. 433 00:23:15,240 --> 00:23:17,440 - So, you're losing farmers. - That's one thing. 434 00:23:17,520 --> 00:23:19,800 The second thing is yield-oriented seeds. 435 00:23:19,880 --> 00:23:21,160 Someone or the other tells them, 436 00:23:21,200 --> 00:23:24,280 "Leave this. These seeds will give you a higher yield, shift to this." 437 00:23:24,360 --> 00:23:27,960 Exactly. Then they don't trust you because you sold the seeds to them 438 00:23:28,040 --> 00:23:30,640 but the yield wasn't good. As a result, they made less profit. 439 00:23:30,720 --> 00:23:32,080 So, by associating with you, 440 00:23:32,160 --> 00:23:34,480 farmers make fewer profits in the short term. 441 00:23:36,680 --> 00:23:38,800 How will you solve that problem? Tell me in one line. 442 00:23:39,000 --> 00:23:41,640 - By just killing Better Nutrition brand. - Exactly. 443 00:23:41,720 --> 00:23:44,680 Everything depends on only one thing. 444 00:23:45,080 --> 00:23:46,080 How quickly 445 00:23:46,120 --> 00:23:48,360 - you make Better Nutrition a big brand. - Correct. 446 00:23:48,440 --> 00:23:50,800 - Right. - Coming to your current round of Rs. 10 crores. 447 00:23:50,960 --> 00:23:53,040 How many commitments do you have and from who? 448 00:23:53,120 --> 00:23:54,800 We've raised Rs. 4 crores. 449 00:23:57,480 --> 00:23:59,560 There are some prominent accelerators 450 00:23:59,680 --> 00:24:02,160 and VCs who have made commitments. 451 00:24:02,320 --> 00:24:05,000 How can you ask for a valuation of Rs. 60 crores? 452 00:24:05,080 --> 00:24:08,640 If your floor is Rs. 56 crores and the cap is Rs. 88 crores, 453 00:24:08,720 --> 00:24:11,680 then all of this will get converted to Rs. 60 crores. 454 00:24:11,880 --> 00:24:13,160 [solemn music playing] 455 00:24:14,840 --> 00:24:16,400 We would like to structure the round 456 00:24:16,480 --> 00:24:19,280 - in a way which is equally beneficial to both. - Ooh! 457 00:24:19,360 --> 00:24:20,720 Will the investors agree? 458 00:24:21,240 --> 00:24:23,640 Yes, provided you and I agree. 459 00:24:25,480 --> 00:24:27,080 You've watched a lot of Shark Tank. 460 00:24:28,400 --> 00:24:30,760 Look, your credentials are great. 461 00:24:31,120 --> 00:24:32,640 So, everything is looking good. 462 00:24:32,760 --> 00:24:35,080 You know, you're bio and the others are non-bio. 463 00:24:35,160 --> 00:24:38,840 But somewhere, I seem to be lacking that comfort from the start. 464 00:24:39,520 --> 00:24:41,600 When you told me the story about Sitapur, 465 00:24:42,000 --> 00:24:43,280 I still couldn't understand why. 466 00:24:43,360 --> 00:24:45,680 In two years, you took all the learnings 467 00:24:45,760 --> 00:24:46,880 and even launched the seeds. 468 00:24:46,920 --> 00:24:48,080 That wasn't adding up for me. 469 00:24:48,720 --> 00:24:50,320 Coming to the bridge now. 470 00:24:50,400 --> 00:24:53,080 For an investor who invested in the bridge two years ago 471 00:24:53,240 --> 00:24:54,480 at a floor of Rs. 56 crores, 472 00:24:54,560 --> 00:24:57,520 you're asking me for a valuation of Rs. 60 crores now. 473 00:24:59,080 --> 00:25:01,640 Whereas you claim it is the continuation of a round 474 00:25:01,720 --> 00:25:03,480 in which you received funds two years ago. 475 00:25:04,400 --> 00:25:05,680 All in all, 476 00:25:05,760 --> 00:25:09,160 I'm not getting that comfort and authenticity 477 00:25:09,440 --> 00:25:10,840 which I'm expecting. 478 00:25:10,920 --> 00:25:12,080 The businesses are good. 479 00:25:12,160 --> 00:25:13,480 Your product is good, 480 00:25:13,600 --> 00:25:17,480 but without that comfort, there is a doubt and I am out. 481 00:25:18,680 --> 00:25:20,680 The food industry, unfortunately, 482 00:25:21,240 --> 00:25:23,360 does not talk about health 483 00:25:24,920 --> 00:25:27,160 and the medical industry does not talk about food. 484 00:25:28,000 --> 00:25:29,960 So, great initiative. 485 00:25:30,480 --> 00:25:32,440 There is a big opportunity, 486 00:25:32,840 --> 00:25:36,360 but you've put a big roadblock ahead of me... 487 00:25:36,520 --> 00:25:38,040 [tense music playing] 488 00:25:38,680 --> 00:25:41,000 Which I cannot cross. Your valuation! 489 00:25:42,880 --> 00:25:45,360 If I come, I want to be all in. 490 00:25:45,440 --> 00:25:47,480 In fact, I'm looking for a company that I can go all in into. 491 00:25:47,480 --> 00:25:48,800 I'm that well-versed with it. 492 00:25:48,880 --> 00:25:51,120 But I would need 8 to 10% in this company. 493 00:25:51,480 --> 00:25:52,960 [tense music playing] 494 00:25:53,400 --> 00:25:54,920 I want to work closely. 495 00:25:55,040 --> 00:25:56,040 So, for now, 496 00:25:56,040 --> 00:25:58,280 I'm going to watch from the sidelines. 497 00:25:58,480 --> 00:26:00,200 I have a strong feeling 498 00:26:00,480 --> 00:26:02,560 that we'll have a meeting in the coming six months, 499 00:26:03,080 --> 00:26:04,720 and I will be your investor 500 00:26:05,440 --> 00:26:07,680 with significant participation. 501 00:26:07,760 --> 00:26:09,320 - Be one now. - I'm out for now. 502 00:26:09,400 --> 00:26:12,280 I can't. There's no way for me to. He won't agree to the cap table. 503 00:26:12,360 --> 00:26:15,000 - I mean, 56... Rs. 88 crores. - What'll change in six months? 504 00:26:15,160 --> 00:26:18,000 - A lot might change. They might run out of money. - Fine! 505 00:26:18,080 --> 00:26:19,320 [laughter] 506 00:26:19,920 --> 00:26:21,480 - I doubt it. - We'll see. 507 00:26:22,840 --> 00:26:24,000 Prateek! Aishwarya! 508 00:26:24,240 --> 00:26:28,080 The transition you made from B2B to B2C 509 00:26:28,160 --> 00:26:29,080 is quite impressive. 510 00:26:29,160 --> 00:26:30,480 Many companies fail at it 511 00:26:30,560 --> 00:26:32,720 because their B2B mindset never changes. 512 00:26:33,320 --> 00:26:34,640 You're a great team. 513 00:26:34,720 --> 00:26:36,520 You complement each other. 514 00:26:36,640 --> 00:26:38,160 However, there is a problem. 515 00:26:39,760 --> 00:26:42,960 Smart people sometimes get stuck in bad businesses. 516 00:26:43,040 --> 00:26:46,440 And that business becomes a cage for them. 517 00:26:47,280 --> 00:26:50,720 I believe Greenday has become a cage for you. 518 00:26:51,120 --> 00:26:52,800 You're not able to leave it. 519 00:26:53,160 --> 00:26:56,200 If you want to grow Better Nutrition, 520 00:26:56,320 --> 00:26:59,600 this business might require a big reset. 521 00:27:01,240 --> 00:27:04,200 Because Better Nutrition will create value for you. 522 00:27:04,600 --> 00:27:07,280 - I hope you've learnt a lot from here. - Sure. 523 00:27:07,440 --> 00:27:09,200 I am out today. 524 00:27:09,480 --> 00:27:11,480 I wish you all the very best. 525 00:27:11,680 --> 00:27:12,800 - Thank you, Kunal. - Thank you. 526 00:27:12,840 --> 00:27:15,040 Prateek, I'd like to change my offer. 527 00:27:16,200 --> 00:27:18,440 The new offer I'm making to you is because 528 00:27:18,560 --> 00:27:19,640 I think there's a good point 529 00:27:19,640 --> 00:27:21,920 that if your floor is Rs. 56 crores, 530 00:27:22,360 --> 00:27:25,880 we should respect those investors. 531 00:27:26,000 --> 00:27:28,840 They have put in their money to create entrepreneurs like you. 532 00:27:28,920 --> 00:27:29,920 Right. 533 00:27:30,600 --> 00:27:34,280 So, I'd like to change my offer to Rs. 60 lakhs for 1% equity. 534 00:27:37,000 --> 00:27:40,640 I'll take a royalty of 0.5% of sales. 535 00:27:40,720 --> 00:27:41,920 It's a very small amount. 536 00:27:42,000 --> 00:27:44,360 That's only once you become profitable, 537 00:27:44,480 --> 00:27:46,280 till I recover my Rs. 60 lakhs. 538 00:27:55,800 --> 00:27:58,920 which we could structure as advisory plus equity. 539 00:28:01,240 --> 00:28:04,920 SUGAR's journey saw the same story as Kunal just mentioned. 540 00:28:05,040 --> 00:28:07,200 We had an e-commerce company called Fab Bag. 541 00:28:07,280 --> 00:28:09,400 We couldn't accept that it wasn't doing well. 542 00:28:09,640 --> 00:28:13,080 Finally, we saw a pivot when we had to raise funds for it. 543 00:28:13,160 --> 00:28:17,080 We did it on SUGAR's revenue which was very little at the time. 544 00:28:17,200 --> 00:28:18,800 Fab Bag had to be killed. 545 00:28:19,280 --> 00:28:20,480 And I look back and think, 546 00:28:20,560 --> 00:28:22,560 - "I could have taken that decision earlier." - Right. 547 00:28:22,560 --> 00:28:24,000 So, it's a very fair point. 548 00:28:24,080 --> 00:28:25,880 If you aim for a really high valuation, 549 00:28:26,000 --> 00:28:28,600 you'll be giving up your future years. 550 00:28:28,680 --> 00:28:30,960 Position this as a right to win, 551 00:28:31,040 --> 00:28:32,800 - not as a revenue stream. - Sure. 552 00:28:32,880 --> 00:28:34,880 No, but equity is important. 553 00:28:36,720 --> 00:28:37,760 What would you like to do? 554 00:28:37,760 --> 00:28:40,120 - Can we quickly take a minute and come back? - Yes, please. 555 00:28:40,200 --> 00:28:41,240 [pensive music playing] 556 00:28:43,520 --> 00:28:44,520 I think 557 00:28:44,640 --> 00:28:48,560 - we should ask both of them to come in together. - With... 558 00:28:48,720 --> 00:28:51,280 I thought you should've asked for 3% equity against Rs. 60 lakhs. 559 00:28:51,320 --> 00:28:54,480 He said his investors want him to save the company by any means. 560 00:28:54,560 --> 00:28:57,280 Change it. Take 4%. He's willing! 561 00:28:57,400 --> 00:28:59,520 Should we give the royalty or not is the question. 562 00:28:59,600 --> 00:29:02,680 Royalty till when we are profitable 563 00:29:02,960 --> 00:29:05,520 till the time they recover their money, which is nothing, 564 00:29:05,760 --> 00:29:06,600 'Namita!' 565 00:29:06,680 --> 00:29:10,080 - Join me! Rs. 60 lakhs for 3%. - No! Let's... 566 00:29:10,200 --> 00:29:12,960 Why join in every time? It doesn't... 567 00:29:13,040 --> 00:29:14,160 'She no friend!' 568 00:29:14,240 --> 00:29:15,680 [laughs] 'No friend!' 569 00:29:24,760 --> 00:29:27,560 Vineeta, you're an alumni and a senior and... 570 00:29:27,680 --> 00:29:29,680 Hey! My dad was from IIM Ahmedabad too. 571 00:29:29,760 --> 00:29:31,240 Will you cut a deal on that basis? 572 00:29:31,320 --> 00:29:33,080 - Obviously! Why not? - [laughs] 573 00:29:33,160 --> 00:29:35,120 I'll take everything I can! 574 00:29:36,320 --> 00:29:40,640 We want to request you both to come on board together. 575 00:29:40,920 --> 00:29:42,040 [tense music playing] 576 00:29:43,960 --> 00:29:45,080 I think you pick one 577 00:29:45,160 --> 00:29:47,240 because 1% is too low, guys. 578 00:29:50,480 --> 00:29:52,600 They don't want to collaborate. What will it be? 579 00:29:53,320 --> 00:29:54,760 [gripping music playing] 580 00:29:56,320 --> 00:29:57,200 We'll go with her. 581 00:29:57,280 --> 00:29:58,360 - With Namita? - Yes. 582 00:29:59,400 --> 00:30:00,960 Just because of the fact 583 00:30:01,720 --> 00:30:05,240 - that Namita has more conviction in what we're building... - Ooh! 584 00:30:05,320 --> 00:30:07,360 In such a scenario, we would choose Namita's offer. 585 00:30:17,800 --> 00:30:18,800 [laughs] 586 00:30:18,840 --> 00:30:20,520 My friend went to IIM too. 587 00:30:20,600 --> 00:30:21,920 [laughter] 588 00:30:23,760 --> 00:30:24,800 [camera shutter clicking] 589 00:30:25,880 --> 00:30:26,800 All the best, Prateek. 590 00:30:26,920 --> 00:30:28,320 - Thank you. - Thank you, bye. 591 00:30:29,160 --> 00:30:30,400 [music concludes] 592 00:30:32,600 --> 00:30:35,120 Like they say, 'Everybody has their lucky day.' 593 00:30:35,520 --> 00:30:37,680 I seem to have too many these days. 594 00:30:37,760 --> 00:30:38,840 Oh my God! 595 00:30:39,560 --> 00:30:41,640 - Congratulations, guys. - Thank you. 596 00:30:41,720 --> 00:30:43,360 It's a really unique proposition 597 00:30:43,440 --> 00:30:46,880 when not just one, but two Sharks fight over you. 598 00:30:51,160 --> 00:30:53,520 You feel immense pressure inside 599 00:30:53,600 --> 00:30:57,080 but when we saw that both Sharks want to come on board, 600 00:30:57,160 --> 00:30:59,960 it felt good as well as surreal. 601 00:31:00,040 --> 00:31:00,840 I can imagine, 602 00:31:00,920 --> 00:31:02,400 but on the flip side, 603 00:31:02,520 --> 00:31:06,440 you had to reject one Shark so to say. 604 00:31:06,760 --> 00:31:09,120 Was it strange? Did you feel awkward? 605 00:31:09,840 --> 00:31:11,640 It was quite difficult and painful 606 00:31:11,720 --> 00:31:14,800 especially because Vineeta is an alumnus 607 00:31:14,880 --> 00:31:16,720 - and my senior at IIM Ahmedabad. - Yes. 608 00:31:16,840 --> 00:31:18,760 We really wanted her on board 609 00:31:18,960 --> 00:31:21,120 but we had to take a call. 610 00:31:21,240 --> 00:31:24,160 Namita's conviction in our start-up was quite high. 611 00:31:24,400 --> 00:31:25,960 So, we chose Namita. 612 00:31:26,080 --> 00:31:28,920 One good thing is an alumna is a connection. 613 00:31:29,000 --> 00:31:32,040 Second, you know she has a keen interest in your business. 614 00:31:32,120 --> 00:31:33,920 - So, you can always reach out. - Absolutely. 615 00:31:34,000 --> 00:31:36,400 You've come a long way from Lucknow to Mumbai. 616 00:31:36,480 --> 00:31:39,200 You're making our food even better and more nutritional. 617 00:31:39,320 --> 00:31:41,920 So, we've ordered some better snacks for you 618 00:31:42,000 --> 00:31:43,320 - from Swiggy Instamart. - Wow. 619 00:31:43,400 --> 00:31:44,880 They've arrived in ten minutes. 620 00:31:45,160 --> 00:31:47,320 So, these are the snacks. Thank you. 621 00:31:47,400 --> 00:31:50,200 They're sugar-free and high in nutrition. 622 00:31:50,320 --> 00:31:51,600 They have zinc and protein. 623 00:31:51,680 --> 00:31:52,680 So, this is for you. 624 00:31:52,800 --> 00:31:53,800 - Thank you so much. - Thank you so much. 625 00:31:53,840 --> 00:31:55,800 Thank you so much. Please enjoy this. 626 00:31:55,880 --> 00:31:59,080 I'm going to take your flour home. My mother will be ecstatic. 627 00:31:59,200 --> 00:32:01,400 I take everyone's products home! 628 00:32:01,520 --> 00:32:03,280 Guys, visit Swiggy Instamart. 629 00:32:03,360 --> 00:32:06,040 Whatever you want will be delivered in just 10 minutes. 630 00:32:06,120 --> 00:32:07,160 Order now. 631 00:32:18,000 --> 00:32:19,960 [theme music playing] 632 00:32:25,600 --> 00:32:27,720 [theme music playing] 633 00:32:40,960 --> 00:32:43,720 Mom, this dress is so pretty. 634 00:32:44,880 --> 00:32:46,480 Should I buy this for myself? 635 00:32:46,560 --> 00:32:47,800 No! 636 00:32:47,880 --> 00:32:50,560 The neck is so deep. 637 00:32:51,840 --> 00:32:54,920 Brother, what do you think of this top for me? 638 00:32:55,200 --> 00:32:56,400 Is this even a top? 639 00:32:56,480 --> 00:32:58,240 Where's the rest of the fabric? 640 00:32:58,440 --> 00:32:59,920 How will you wear this and go outside? 641 00:33:00,880 --> 00:33:02,840 Mom, this is a dress. 642 00:33:02,960 --> 00:33:04,840 Also, it's my favourite colour. 643 00:33:04,960 --> 00:33:06,720 Should I please buy this for myself? 644 00:33:06,800 --> 00:33:08,880 Yes, this looks better. 645 00:33:09,200 --> 00:33:11,680 What is she wearing underneath 646 00:33:11,840 --> 00:33:14,120 that her bra straps aren't visible 647 00:33:14,400 --> 00:33:18,000 and makes the dress fit perfectly? 648 00:33:18,080 --> 00:33:21,600 Mom, nowadays, be it noodle straps or bustiers, 649 00:33:21,800 --> 00:33:23,160 there are many innovative products 650 00:33:23,240 --> 00:33:25,880 to wear such dresses. 651 00:33:26,000 --> 00:33:27,440 There are tapes 652 00:33:27,680 --> 00:33:29,320 and nipple covers. 653 00:33:29,400 --> 00:33:31,320 And they are very easy to use. 654 00:33:31,560 --> 00:33:33,360 You just have to peel them, 655 00:33:34,200 --> 00:33:37,080 paste them and you are good to go. 656 00:33:38,200 --> 00:33:39,360 Wow! 657 00:33:39,520 --> 00:33:41,840 Your generation is amazing! 658 00:33:41,920 --> 00:33:44,040 You can dress however you want 659 00:33:44,320 --> 00:33:45,760 with confidence. 660 00:33:45,920 --> 00:33:48,640 If this product fits well, 661 00:33:48,920 --> 00:33:52,240 then we can say goodbye to bras! 662 00:33:52,320 --> 00:33:54,120 [laughing] 663 00:33:55,200 --> 00:33:59,960 Sharks, today, Pinq brings to you similar products. 664 00:34:01,680 --> 00:34:04,720 Greetings, Sharks! I am Mandeep, the mind of the business. 665 00:34:04,800 --> 00:34:08,960 - Greetings, Sharks! I am Gurdeep, the soul of the business. - Oh! 666 00:34:09,040 --> 00:34:12,160 Greetings, Sharks! I am Manveen, the heart of our business. 667 00:34:12,240 --> 00:34:13,040 - Wow! - That's nice. 668 00:34:13,200 --> 00:34:15,400 We are from Faridabad, Delhi NCR. 669 00:34:16,720 --> 00:34:18,800 Pinq Polka is a female hygiene, 670 00:34:31,320 --> 00:34:34,320 I tried their sanitary pads 671 00:34:34,520 --> 00:34:37,960 and realised that this quality is not available in India. 672 00:34:38,240 --> 00:34:39,800 That is when I decided 673 00:34:39,880 --> 00:34:43,320 to bring these premium quality products to India. 674 00:34:59,360 --> 00:35:01,240 nipple covers. 675 00:35:01,360 --> 00:35:03,840 It is currently our star product. 676 00:35:04,200 --> 00:35:06,520 Women loved it so much 677 00:35:06,600 --> 00:35:10,480 that they started using it as an alternative to their bras. 678 00:35:10,640 --> 00:35:13,880 And that was the start of Freedom 2.0. 679 00:35:14,760 --> 00:35:16,840 They showed so much love 680 00:35:16,920 --> 00:35:19,240 that our four-month forecasted sales 681 00:35:19,320 --> 00:35:21,240 sold out in just one month! 682 00:35:21,320 --> 00:35:22,320 We finally realised 683 00:35:22,440 --> 00:35:26,040 that the requirements for these products are growing in India 684 00:35:26,160 --> 00:35:29,400 and we decided to expand our lifestyle range. 685 00:35:29,520 --> 00:35:32,080 We understand the needs of women. 686 00:35:32,160 --> 00:35:36,080 We've fulfilled 1.75 orders until now 687 00:35:36,160 --> 00:35:39,280 through D2C and marketplace pan-India. 688 00:35:40,400 --> 00:35:42,160 Pinq's vision 689 00:35:42,320 --> 00:35:44,520 is to normalise discussions around 690 00:35:44,600 --> 00:35:48,160 lifestyle and hygiene products. 691 00:35:48,360 --> 00:35:51,320 And in the next three years, we aim to replace 692 00:35:51,440 --> 00:35:54,800 women's bras with our products as much as possible. 693 00:35:55,040 --> 00:35:58,280 And we need your support to do that 694 00:35:58,440 --> 00:36:00,160 without any straps attached. 695 00:36:00,240 --> 00:36:02,240 - Oh! - Our ask is 696 00:36:02,320 --> 00:36:05,720 Rs. 1 crore for 2.5% equity. 697 00:36:12,160 --> 00:36:13,560 - Greetings! - Hello! 698 00:36:13,640 --> 00:36:17,000 - Mr. Mandeep, Ms. Gurdeep and Ms. Manveen. - Yes. 699 00:36:17,080 --> 00:36:18,280 Welcome to Shark Tank. 700 00:36:18,360 --> 00:36:19,280 - Thank you! - Thank you! 701 00:36:19,360 --> 00:36:21,480 This is a taboo subject 702 00:36:21,600 --> 00:36:22,440 - in many households. - Correct. 703 00:36:22,520 --> 00:36:23,800 And the way you introduced this 704 00:36:23,960 --> 00:36:26,640 so openly and with humour 705 00:36:27,040 --> 00:36:28,680 - was really impressive. - Thank you! 706 00:36:28,760 --> 00:36:30,720 Tell us a bit about your background. 707 00:36:30,800 --> 00:36:33,400 How did you start the business? Tell me about your background. 708 00:36:33,480 --> 00:36:34,880 I am from Delhi. 709 00:36:34,960 --> 00:36:38,040 One year after my marriage, 710 00:36:38,320 --> 00:36:41,600 I started a boutique, which I ran for 25 years. 711 00:36:41,920 --> 00:36:44,480 My husband was a great support in running it. 712 00:36:44,560 --> 00:36:46,520 Through this journey, 713 00:36:46,640 --> 00:36:49,360 I learned about customer excellence, operations 714 00:36:49,440 --> 00:36:52,040 and managing clients. I gained a lot of experience. 715 00:36:53,040 --> 00:36:56,320 And then she decided 716 00:36:56,520 --> 00:36:58,960 that she wanted to start something. 717 00:36:59,160 --> 00:37:01,680 I felt I've done a lot on my own, 718 00:37:01,800 --> 00:37:05,920 so why not combine my experience 719 00:37:06,160 --> 00:37:07,800 with my children's aspirations 720 00:37:07,960 --> 00:37:11,800 and help them take their brand to new heights? 721 00:37:13,200 --> 00:37:15,240 So, I decided to shut down my boutique 722 00:37:15,320 --> 00:37:19,440 and fully dedicate myself to Pinq with her. 723 00:37:20,480 --> 00:37:23,000 I started my journey in automobile sales 724 00:37:23,080 --> 00:37:25,920 and also worked with some luxury brands in sales. 725 00:37:26,000 --> 00:37:29,680 Then, in 2017, I launched our brand. 726 00:37:31,000 --> 00:37:32,480 Sharks, I was born in Delhi. 727 00:37:32,760 --> 00:37:35,440 For my graduation, I studied partly in London and partly in India. 728 00:37:35,880 --> 00:37:37,640 After returning, I got an opportunity. 729 00:37:37,720 --> 00:37:39,720 I spent three years in sales in the hotel industry, 730 00:37:39,800 --> 00:37:41,080 working with Marriott and Leela. 731 00:37:41,400 --> 00:37:43,360 My last assignment was with a startup. 732 00:37:43,440 --> 00:37:46,000 I joined Soothe Healthcare as the Head of Sales and Strategy. 733 00:37:46,320 --> 00:37:49,640 I scaled it from zero to Rs. 200 crores in seven years. 734 00:37:49,720 --> 00:37:52,800 I had a team of around 1,000 people working with me. 735 00:37:53,280 --> 00:37:55,200 I quit last year in April and... 736 00:37:55,280 --> 00:37:56,160 What is the name of that company? 737 00:37:56,240 --> 00:37:57,880 - Soothe Healthcare. - I never heard of them. 738 00:37:57,880 --> 00:37:59,360 Yes! Soothe is... What is the product? 739 00:37:59,520 --> 00:38:01,080 - Paree. - Yeah! Paree Sanitary Napkin. 740 00:38:01,160 --> 00:38:02,640 Oh! Sanitary... Okay! 741 00:38:02,920 --> 00:38:04,120 Last year in October, 742 00:38:08,720 --> 00:38:11,120 Mr. Mandeep, tell me honestly. I think 743 00:38:11,520 --> 00:38:15,000 Ms. Gurdeep pulled your ear and said, 744 00:38:15,240 --> 00:38:17,960 'Aren't you ashamed to help others sell sanitary pads?' 745 00:38:18,120 --> 00:38:20,240 'Your sister is already doing it, go join her!' 746 00:38:20,320 --> 00:38:21,200 That is what transpired, right? 747 00:38:21,280 --> 00:38:22,560 - No! I have... - No? 748 00:38:23,000 --> 00:38:26,680 I joined because I saw a blue ocean market in the lifestyle category. 749 00:38:26,880 --> 00:38:29,040 There are certain problems today. 750 00:38:29,120 --> 00:38:30,480 Intentionally or unintentionally, 751 00:38:30,560 --> 00:38:32,040 80% of women worldwide suffer from 752 00:38:32,120 --> 00:38:34,480 - something called Bra Strap Syndrome. - What's that? 753 00:38:34,560 --> 00:38:37,480 Where they are not aware of their cup sizes 754 00:38:37,640 --> 00:38:39,880 To make it fit comfortably, 755 00:38:39,960 --> 00:38:42,640 - they tighten their straps tight. - 80% women? 756 00:38:42,720 --> 00:38:45,480 - No! - 80% women. And this is some of the data that is available. 757 00:38:45,680 --> 00:38:48,320 - Is this true? 80%? - I think this is a dated report. 758 00:38:48,400 --> 00:38:52,200 15 years ago, I was going to launch my lingerie brand called Caress. 759 00:38:52,400 --> 00:38:53,800 And at that time, 760 00:38:53,880 --> 00:38:55,560 around 70%-80% of women 761 00:38:55,840 --> 00:38:58,560 bought the wrong sizes because there was a challenge in the market. 762 00:38:58,640 --> 00:39:00,000 But in the last 10 years, 763 00:39:00,120 --> 00:39:02,680 - there has been a lot of awareness... - It's growing. 764 00:39:02,760 --> 00:39:05,400 So, I don't think it's 80%. Maybe 20%-30%. 765 00:39:05,480 --> 00:39:06,800 We referred to some reports. 766 00:39:06,920 --> 00:39:11,160 - Yes. - Also, we maintain our customer service database. 767 00:39:11,280 --> 00:39:14,080 Mom personally calls every customer on our website. 768 00:39:14,200 --> 00:39:16,920 - That's what she does after her cancer today. - Oh! 769 00:39:17,160 --> 00:39:18,840 After her, what? 770 00:39:19,840 --> 00:39:22,320 So she was diagnosed with breast cancer. 771 00:39:22,400 --> 00:39:23,600 Oh, sorry to hear that. 772 00:39:25,320 --> 00:39:28,480 And luckily, we have doctors in the family. 773 00:39:28,640 --> 00:39:30,480 We got both breasts removed. 774 00:39:30,560 --> 00:39:31,880 Oh my God! 775 00:39:32,720 --> 00:39:35,320 That was the suggestion that a normal doctor doesn't give. 776 00:39:35,440 --> 00:39:36,960 As a family, we had decided this. 777 00:39:37,040 --> 00:39:40,000 She is not on chemo now. She is on gene therapy. 778 00:39:40,320 --> 00:39:42,960 And the percentage of that happening again is slightly higher. 779 00:39:43,040 --> 00:39:45,920 But we've told her to live her life till the time she can. 780 00:39:46,760 --> 00:39:49,640 She comes to the office every day, we have lunch together 781 00:39:49,760 --> 00:39:51,360 and she talks to every customer herself. 782 00:39:51,760 --> 00:39:55,440 So, that's our motivation to take this forward together. 783 00:39:56,000 --> 00:39:59,600 Ms. Gurdeep, you are so courageous. Why are you crying? 784 00:39:59,680 --> 00:40:00,960 Would you like some water? 785 00:40:04,120 --> 00:40:06,280 [music playing] 786 00:40:08,680 --> 00:40:10,360 - Sit! - Come on! 787 00:40:14,120 --> 00:40:16,560 Was it triple-negative breast cancer? 788 00:40:16,640 --> 00:40:18,880 - It was the second stage. - Is she in remission now? 789 00:40:19,160 --> 00:40:21,840 - Is it fully gone? - She's completely fine. 790 00:40:21,920 --> 00:40:24,520 - Amazing! - You've crossed the toughest path. 791 00:40:25,200 --> 00:40:28,320 You should smile. I understand your eyes well up sometimes. 792 00:40:28,400 --> 00:40:30,440 But congratulations! You beat cancer. 793 00:40:30,880 --> 00:40:32,320 - Thank you, sir. - Well done. 794 00:40:32,400 --> 00:40:33,400 Superwoman! 795 00:40:35,920 --> 00:40:38,920 How have you divided the roles? 796 00:40:39,000 --> 00:40:40,840 I handle the CRM department. 797 00:40:40,960 --> 00:40:42,840 I handle some portals of marketplace 798 00:40:42,920 --> 00:40:45,640 and overall company's operations. 799 00:40:46,280 --> 00:40:48,960 My mom handles the customer excellence department. 800 00:40:49,080 --> 00:40:51,320 And I am here as a Chief Strategist. 801 00:40:51,400 --> 00:40:53,840 - Where new product development, marketing... - Oh! Chief Strategy. 802 00:40:53,840 --> 00:40:56,840 And primarily our websites, D2C and digital marketing. 803 00:40:56,920 --> 00:40:58,200 Who is the CEO of the company? 804 00:40:58,280 --> 00:40:59,520 I am the CEO. 805 00:40:59,880 --> 00:41:01,800 - Will you show us the product? - Yes, ma'am. 806 00:41:02,080 --> 00:41:03,760 [music playing] 807 00:41:09,720 --> 00:41:13,040 These are camel toe concealers. This is the first time in India. 808 00:41:13,120 --> 00:41:15,160 [music playing] 809 00:41:27,560 --> 00:41:29,240 - We worked with our designer. - These deisgns, logo 810 00:41:29,280 --> 00:41:30,760 - and packaging are in-house? - Everything is in-house. 811 00:41:30,760 --> 00:41:31,920 Very nice. 812 00:41:39,080 --> 00:41:40,480 And this is our top seller. 813 00:41:40,560 --> 00:41:43,400 Today, 40% of the contribution of business revenue 814 00:41:43,480 --> 00:41:44,720 comes from only the breast cup. 815 00:41:50,520 --> 00:41:51,840 Lifestyle is our main business. 816 00:41:51,920 --> 00:41:53,880 What do you mean? Non-sanitary pads? 817 00:41:53,960 --> 00:41:55,840 Non-sanitary pads, non-hygiene. 818 00:41:55,960 --> 00:41:58,960 What is the split between non-sanitary pads and sanitary pads? 819 00:41:59,360 --> 00:42:01,200 Kunal, we divide the category 820 00:42:01,280 --> 00:42:03,720 - of our company into three parts. - Okay! 821 00:42:04,040 --> 00:42:05,160 Intimate hygiene. 822 00:42:05,240 --> 00:42:07,560 That's sanitary pads, panty liners and menstrual cups. 823 00:42:07,640 --> 00:42:09,400 - How much is the percentage? - 10%. 824 00:42:09,480 --> 00:42:10,960 Then there are hygiene essentials. 825 00:42:11,160 --> 00:42:13,480 Sweat pads, breast pads, pee on the go, 826 00:42:13,560 --> 00:42:15,080 - which is 5%. - Okay! 827 00:42:15,160 --> 00:42:16,640 In the lifestyle category, 828 00:42:16,720 --> 00:42:20,400 we have all our bra replacement products and panty products. 829 00:42:20,600 --> 00:42:22,480 - That's 85% revenue. - Good! 830 00:42:22,720 --> 00:42:25,160 Looking at your vibe and branding, 831 00:42:25,320 --> 00:42:27,840 I can clearly see a lifestyle brand. 832 00:42:28,040 --> 00:42:32,040 Why are we going into a highly competitive market? 833 00:42:32,400 --> 00:42:33,520 Is there a strategy behind it, 834 00:42:33,560 --> 00:42:35,320 or are you doing that you've been doing that? 835 00:42:36,240 --> 00:42:38,120 Anupam, we started because 836 00:42:38,360 --> 00:42:40,200 our brand's sanitary pads are among 837 00:42:40,280 --> 00:42:43,080 the best in quality in India today. 838 00:42:43,160 --> 00:42:45,000 But the sale is under 10%. 839 00:42:45,080 --> 00:42:48,240 As Anupam said, this is a red ocean market. 840 00:42:48,440 --> 00:42:51,040 Where a lot of brands are spending on marketing. 841 00:42:51,160 --> 00:42:52,520 We, as a company, 842 00:42:52,840 --> 00:42:54,720 haven't spent on marketing in six years. 843 00:42:56,640 --> 00:43:00,200 A Blue Ocean is a market 844 00:43:00,360 --> 00:43:02,080 with no competition, 845 00:43:02,160 --> 00:43:03,960 where a new space is being created. 846 00:43:04,080 --> 00:43:07,480 Companies introduce innovative products 847 00:43:07,560 --> 00:43:09,080 and carve out a niche. 848 00:43:09,720 --> 00:43:12,040 Red Ocean is 849 00:43:12,120 --> 00:43:14,840 a highly competitive market with many players 850 00:43:14,960 --> 00:43:18,920 trying to steal the market share. 851 00:43:19,640 --> 00:43:21,360 We started it this year 852 00:43:25,840 --> 00:43:28,440 We want to grow that by marketing. 853 00:43:28,520 --> 00:43:31,920 Parallelly, to maintain customer stickiness, we want to gradually 854 00:43:36,040 --> 00:43:38,400 Tell us your revenue for the last three years. 855 00:43:38,520 --> 00:43:40,840 Last year, we closed at Rs. 3.63 crores. 856 00:43:41,280 --> 00:43:43,640 Before that, we closed at Rs. 1.22 crores 857 00:43:43,720 --> 00:43:46,240 when Manveen and my mom were managing the business on their own. 858 00:43:46,320 --> 00:43:49,320 - Oh! - The year before that it was Rs. 1.07 crores. 859 00:43:49,480 --> 00:43:52,000 This year, we've already done Rs. 3.25 crores. 860 00:43:52,160 --> 00:43:53,040 In how many months? 861 00:43:53,160 --> 00:43:54,840 In seven months, end of October. 862 00:43:54,920 --> 00:43:56,520 - And this year? - We will close at Rs. 10 crores. 863 00:43:56,560 --> 00:43:58,120 What is our bottomline this year 864 00:43:58,200 --> 00:44:00,400 - and last year? - Until last year, we were net profitable. 865 00:44:00,440 --> 00:44:02,640 Very marginally, last year, the profit was Rs. 3 lakhs. 866 00:44:02,720 --> 00:44:05,160 We were profitable the year before that by 5 lakhs. 867 00:44:05,440 --> 00:44:07,080 This year, we've incurred losses 868 00:44:07,160 --> 00:44:09,640 primarily due to marketing expenses. 869 00:44:10,720 --> 00:44:13,520 Our marketing spend this year is 57%. 870 00:44:13,680 --> 00:44:15,200 How much is the loss until now? 871 00:44:15,280 --> 00:44:17,360 - Loss is around Rs. 1 crore. - Oh! 872 00:44:18,400 --> 00:44:19,440 Which is 30%. 873 00:44:19,520 --> 00:44:21,680 And by the end of the year, we are expected to close at 874 00:44:21,680 --> 00:44:22,880 a loss of around Rs. 2 crores. 875 00:44:23,200 --> 00:44:27,120 Our overall blended gross margin was 74.5%. 876 00:44:27,480 --> 00:44:30,160 How is it split between lifestyle and hygiene? 877 00:44:30,240 --> 00:44:31,960 Lifestyle is 80% and above. 878 00:44:37,000 --> 00:44:38,800 and what we import, our products are 879 00:44:39,120 --> 00:44:41,120 at least 2.5% more expensive 880 00:44:41,200 --> 00:44:43,040 in terms of cost compared to the competition. 881 00:44:43,880 --> 00:44:46,000 Where are you spending your marketing cost per month? 882 00:44:46,080 --> 00:44:50,160 Out of 57%, 27% is on performance marketing. 883 00:44:50,920 --> 00:44:53,200 30% spend is on Google and Meta. 884 00:44:53,280 --> 00:44:55,120 - Okay! - And 7% is sampling. 885 00:44:55,280 --> 00:44:56,320 Who do you give samples to? 886 00:44:56,320 --> 00:44:59,120 - To the customers of our website. - Your website. 887 00:44:59,200 --> 00:45:01,600 Our calling is divided into two departments. 888 00:45:01,680 --> 00:45:04,200 One is our acquired customers 889 00:45:04,320 --> 00:45:06,320 who buy our lifestyle product. 890 00:45:06,520 --> 00:45:08,560 When we call them for feedback, 891 00:45:08,640 --> 00:45:12,720 our team ensures they properly understand the rest of the category. 892 00:45:12,800 --> 00:45:14,120 Do people entertain such calls? 893 00:45:14,240 --> 00:45:15,280 - Yes! - They do. 894 00:45:15,360 --> 00:45:17,680 - Many! - You tell me about customer excellence. 895 00:45:17,800 --> 00:45:20,360 Actually, I call around 896 00:45:20,520 --> 00:45:22,640 100 to 125 customers. 897 00:45:22,720 --> 00:45:24,000 - Per day? - Per day. I call them. 898 00:45:24,000 --> 00:45:26,000 - Oh my! - Very good. 899 00:45:26,800 --> 00:45:29,680 Around 50-60 customers talk to me. 900 00:45:29,880 --> 00:45:33,000 When they respond, I inform them 901 00:45:33,240 --> 00:45:35,200 that I am one of the founders of Pinq. 902 00:45:35,280 --> 00:45:37,000 Yes! So, I just want to have 903 00:45:37,280 --> 00:45:41,080 feedback from you. 904 00:45:41,480 --> 00:45:44,440 Some of them are really sweet. 905 00:45:44,520 --> 00:45:45,800 Some of them are blunt. 906 00:45:46,120 --> 00:45:48,920 They ask me to call them later. But those who say that, 907 00:45:49,360 --> 00:45:51,720 I call them every Saturday once again. 908 00:45:51,800 --> 00:45:52,800 Wow! 909 00:45:53,080 --> 00:45:54,320 - Persistence! - On Saturday... 910 00:45:54,520 --> 00:45:56,080 I leave a question mark and call them. 911 00:45:56,160 --> 00:45:58,920 I salute you! People spend years to learn this. 912 00:46:00,840 --> 00:46:02,800 The customer I speak with, 913 00:46:02,880 --> 00:46:05,480 I ask them, 'Is this your first time?' They reply, 'Yes.' 914 00:46:05,640 --> 00:46:08,760 I make them aware of the other products we sell. 915 00:46:08,840 --> 00:46:11,240 I write what they say on a sheet 916 00:46:11,400 --> 00:46:14,000 and provide that in their order. 917 00:46:14,200 --> 00:46:16,720 And we get the response within a week sometimes. 918 00:46:16,800 --> 00:46:20,760 'Aunt, I loved what you sent. How do I order it?' 919 00:46:21,160 --> 00:46:22,640 'You order it for me.' 920 00:46:23,520 --> 00:46:25,680 What is the conversion rate from sampling? 921 00:46:25,720 --> 00:46:27,320 Currently, it's approximately 5%. 922 00:46:27,400 --> 00:46:29,560 - 5% conversion? - That’s the conversion rate on our website. 923 00:46:29,560 --> 00:46:32,320 - Most of them ask her to order. - Got it! 924 00:46:32,440 --> 00:46:34,360 Tell me an important thing. 925 00:46:34,760 --> 00:46:38,040 85% of revenue comes from lifestyle products. 926 00:46:38,240 --> 00:46:39,920 The branding is on lifestyle. 927 00:46:40,000 --> 00:46:42,200 You are excited about lifestyle products. 928 00:46:42,320 --> 00:46:44,720 You are mostly explaining those products. 929 00:46:44,800 --> 00:46:46,600 Why don't you stop selling the rest? 930 00:46:47,080 --> 00:46:49,600 We just want to give it a last try. 931 00:46:49,680 --> 00:46:51,800 If we invest in overall brand marketing, 932 00:46:52,080 --> 00:46:55,320 our customer base will grow from sanitary pads 933 00:46:55,400 --> 00:46:57,880 - and there is repeat... - Mandeep, what happens is, 934 00:46:57,960 --> 00:46:59,840 there are more people in the market 935 00:46:59,920 --> 00:47:01,640 who are only catering to that category. 936 00:47:01,720 --> 00:47:05,600 Didn't you spread yourself thin? 937 00:47:05,960 --> 00:47:08,600 We absolutely agree with your feedback. 938 00:47:08,680 --> 00:47:11,560 We took one leap of faith by trying marketing. 939 00:47:11,680 --> 00:47:13,360 We are planning brand marketing. 940 00:47:13,480 --> 00:47:14,800 For the first time, 941 00:47:15,040 --> 00:47:16,960 we shot our video and brand song. 942 00:47:17,040 --> 00:47:18,080 Who is investing? 943 00:47:18,560 --> 00:47:21,640 - We've taken investments. - Who did you take money from? 944 00:47:21,720 --> 00:47:23,200 In a fund round. 945 00:47:23,280 --> 00:47:25,280 I want the CEO to speak. 946 00:47:27,000 --> 00:47:28,240 I'll share the finance aspect, 947 00:47:28,360 --> 00:47:29,880 - and then she will speak. - He handles finance. 948 00:47:29,880 --> 00:47:32,720 In 2020, we raised a small friends and family round 949 00:47:33,000 --> 00:47:34,000 of Rs. 30 lakhs 950 00:47:34,080 --> 00:47:35,680 at a Rs. 3 crore valuation. 951 00:47:35,760 --> 00:47:39,560 In 2023, we raised Rs. 30 lakhs once again at a Rs. 6 crore valuation. 952 00:47:39,720 --> 00:47:41,640 We raised a round in April 953 00:47:41,720 --> 00:47:44,360 of Rs. 1.66 crores at Rs. 12 crores valuation. 954 00:47:52,240 --> 00:47:53,840 Booby Tape? Boob Tape? What is it called? 955 00:47:54,080 --> 00:47:56,320 - A global American brand. - An American brand called Nippies. 956 00:47:56,360 --> 00:47:59,080 Can you tell me what their revenue globally is? 957 00:47:59,160 --> 00:48:01,680 Currently, their business is worth Rs. 700 crores. 958 00:48:03,040 --> 00:48:06,320 Just for your information, we are already on Amazon UAE. 959 00:48:06,600 --> 00:48:10,160 And within the next 15 days, we will be on the US Amazon as well. 960 00:48:11,000 --> 00:48:13,120 We are also launching our website in the US. 961 00:48:13,520 --> 00:48:16,240 We also have plans to expand in Canada and Australia 962 00:48:16,400 --> 00:48:17,640 on Amazon as of now. 963 00:48:18,800 --> 00:48:21,960 Ms. Gurdeep, I cannot fathom what you are going through. 964 00:48:22,040 --> 00:48:23,480 Cancer is a growing concern in India, 965 00:48:24,000 --> 00:48:27,320 and it’s something everyone fears. 966 00:48:27,560 --> 00:48:31,080 But you fought this and you came here, it's a big thing. 967 00:48:32,360 --> 00:48:36,280 I believe that if, for the next 20 years, 968 00:48:36,440 --> 00:48:38,400 I simply keep asking 969 00:48:38,880 --> 00:48:41,720 why people are buying my product 970 00:48:41,880 --> 00:48:44,440 and why others are not, 971 00:48:44,640 --> 00:48:46,920 I will always know what I need to do. 972 00:48:47,000 --> 00:48:48,520 There is no better strategy. 973 00:48:49,000 --> 00:48:53,360 Right? You've learnt that in your 25 years of boutique career. 974 00:48:53,440 --> 00:48:57,160 You are playing the most important role in this company. 975 00:48:57,400 --> 00:48:59,800 - Thank you. - And I also feel 976 00:49:00,160 --> 00:49:03,160 that barring this year, in the years before that, 977 00:49:03,360 --> 00:49:05,760 this company was moving forward with the right strategy 978 00:49:05,880 --> 00:49:07,560 and on the right path. 979 00:49:07,840 --> 00:49:08,880 What are you implying? 980 00:49:09,400 --> 00:49:12,280 At some level, I feel you are distracted. 981 00:49:14,000 --> 00:49:17,320 It's a humble advice, 982 00:49:17,400 --> 00:49:19,360 that you shouldn't run. 983 00:49:19,480 --> 00:49:21,720 You need to focus! 984 00:49:22,880 --> 00:49:24,480 Currently, I am out. 985 00:49:25,760 --> 00:49:28,280 Focus on what Gurdeep 986 00:49:28,440 --> 00:49:29,760 tells all of you to do. 987 00:49:29,840 --> 00:49:30,920 Nothing else is needed. 988 00:49:31,000 --> 00:49:32,000 Thank you, Peyush. 989 00:49:32,040 --> 00:49:34,360 Iron Ladies of India. 990 00:49:34,720 --> 00:49:36,680 Very inspirational journey. 991 00:49:37,000 --> 00:49:39,880 I see a few challenges here 992 00:49:40,400 --> 00:49:42,840 because of which I won't join you today. 993 00:49:44,080 --> 00:49:46,600 The first one is that your team 994 00:49:46,760 --> 00:49:50,840 only has expertise in sales. 995 00:49:51,080 --> 00:49:53,480 I think that is your biggest strength. 996 00:49:53,600 --> 00:49:56,160 The three of you are better than Rocket Singh. 997 00:49:56,240 --> 00:49:59,840 But the diversity of skill sets 998 00:49:59,920 --> 00:50:01,320 that is missing. 999 00:50:02,200 --> 00:50:03,480 Secondly, 1000 00:50:03,560 --> 00:50:07,200 when the bucket has a hole and it leaks, 1001 00:50:07,360 --> 00:50:10,640 you can't fill it up by pouring more water. 1002 00:50:10,960 --> 00:50:13,240 You've created a leaky lucky 1003 00:50:13,320 --> 00:50:15,000 with 57% in marketing. 1004 00:50:15,440 --> 00:50:18,400 Adding more funding to it won't solve the problem. 1005 00:50:18,480 --> 00:50:21,000 You have to repair the leaky bucket 1006 00:50:21,080 --> 00:50:22,920 before filling it with more investment. 1007 00:50:23,480 --> 00:50:25,840 The third challenge is TAM. 1008 00:50:31,640 --> 00:50:34,960 India is around 10-15 years behind. 1009 00:50:35,040 --> 00:50:37,880 So, I think TAM is small. For that reason, I am out. 1010 00:50:38,200 --> 00:50:40,320 - Thank you, Vineeta. - Thank you! 1011 00:50:40,600 --> 00:50:42,680 You know, Ms. Gurdeep, I agree with Peyush. 1012 00:50:42,760 --> 00:50:45,120 That you are the soul of the company. 1013 00:50:45,720 --> 00:50:47,840 I think the losses you are incurring 1014 00:50:48,040 --> 00:50:50,880 and the so-called brand building, making videos, 1015 00:50:51,560 --> 00:50:53,840 it's really too early for all of that. 1016 00:50:55,040 --> 00:50:57,000 Rethink your marketing strategy. 1017 00:50:57,120 --> 00:50:59,120 It's too early for me for that reason. 1018 00:50:59,360 --> 00:51:01,200 Come back and we will talk. 1019 00:51:01,360 --> 00:51:02,200 But today, I am out. 1020 00:51:02,280 --> 00:51:03,600 Thank you! 1021 00:51:03,960 --> 00:51:06,760 Gurdeep, you are the light of the business. 1022 00:51:07,000 --> 00:51:08,240 Thank you for inspiring us 1023 00:51:08,320 --> 00:51:10,640 and many people who will watch this today. 1024 00:51:10,880 --> 00:51:13,320 There is a structural issue in the business, 1025 00:51:13,640 --> 00:51:15,840 it's called PPP. 1026 00:51:24,080 --> 00:51:25,520 I believe we are above that. 1027 00:51:26,320 --> 00:51:27,640 That is why 1028 00:51:28,480 --> 00:51:30,480 we have to spend so much on marketing. 1029 00:51:30,680 --> 00:51:32,320 We have to push the product. 1030 00:51:32,560 --> 00:51:35,960 Go back and reflect on the price 1031 00:51:36,160 --> 00:51:38,480 at which we should sell to make demand take off. 1032 00:51:39,400 --> 00:51:41,720 - Sure. - I am out today. But wish you all the best. 1033 00:51:41,920 --> 00:51:43,160 - Thank you, Kunal. - Thank you! 1034 00:51:43,920 --> 00:51:45,360 I was thinking of an offer 1035 00:51:45,440 --> 00:51:47,520 because I thought it was a very interesting category. 1036 00:51:47,560 --> 00:51:49,200 There is a niche area where 1037 00:51:49,360 --> 00:51:51,200 we can do something. 1038 00:51:51,960 --> 00:51:55,160 But somewhere you lost me when you said US market. 1039 00:51:55,920 --> 00:51:58,840 Because if the opportunity is in the US market, 1040 00:51:58,920 --> 00:52:01,400 then you mentioned there are companies worth 100 million dollars. 1041 00:52:01,400 --> 00:52:05,040 It's very difficult to understand the US customer while being here. 1042 00:52:06,320 --> 00:52:08,240 At this stage of your scale, 1043 00:52:08,960 --> 00:52:10,560 there are only six words for you. 1044 00:52:11,520 --> 00:52:13,840 It's product, product, product. 1045 00:52:14,640 --> 00:52:17,440 And social, social, social for your category. 1046 00:52:18,640 --> 00:52:20,840 Make the product so good 1047 00:52:20,920 --> 00:52:24,600 that customers feel there's nothing else like it. 1048 00:52:25,360 --> 00:52:28,120 That will create a virtuous loop. 1049 00:52:28,200 --> 00:52:30,160 Marketing with the social angle I’m talking about. 1050 00:52:31,080 --> 00:52:35,000 You have to make that your superpower on social media. 1051 00:52:35,920 --> 00:52:39,040 So, retreat. Even if revenue decreases. 1052 00:52:39,240 --> 00:52:40,320 But don't worry about that. 1053 00:52:40,360 --> 00:52:42,160 You haven't raised an institutional round yet. 1054 00:52:42,200 --> 00:52:43,280 The investors will agree. 1055 00:52:43,720 --> 00:52:45,120 I am out for now. 1056 00:52:46,160 --> 00:52:48,040 I am happy to meet you guys again... 1057 00:52:48,160 --> 00:52:50,240 - Sure. - To spend a lot of Saturdays 1058 00:52:50,320 --> 00:52:52,080 while she is on the phone. 1059 00:52:52,840 --> 00:52:53,840 Sure. Thank you, Anupam. 1060 00:52:53,920 --> 00:52:55,760 - Good luck, guys! - Thank you so much for coming. 1061 00:52:55,760 --> 00:52:56,760 Wish you all the best. 1062 00:52:56,840 --> 00:52:58,320 - Thank you. - Bye! 1063 00:52:58,480 --> 00:53:00,920 The Sharks are more experienced than us. 1064 00:53:01,200 --> 00:53:03,120 We also get to learn from their experience. 1065 00:53:03,200 --> 00:53:04,360 They've shared feedback. 1066 00:53:04,440 --> 00:53:05,800 We will work on that. 1067 00:53:05,880 --> 00:53:07,320 And about getting the investment, 1068 00:53:07,400 --> 00:53:10,600 that's okay. As Anupam said, if not now, someday. 1069 00:53:10,760 --> 00:53:12,400 I am sure there will be a time 1070 00:53:12,520 --> 00:53:14,640 when the Sharks will call us 1071 00:53:14,720 --> 00:53:16,120 to tell us they want to invest. 1072 00:53:16,280 --> 00:53:19,360 So, we are very positive about our category and our brand. 1073 00:53:19,680 --> 00:53:22,600 - Hello, team Pinq Polka. Greetings! - Greetings! 1074 00:53:22,680 --> 00:53:24,720 I am very happy that you are here with me. 1075 00:53:24,800 --> 00:53:26,720 I liked your pitch, 1076 00:53:55,880 --> 00:54:00,640 Tell me, what are your top five priority business functions? 1077 00:54:00,840 --> 00:54:02,080 Customer Service. 1078 00:54:02,200 --> 00:54:03,600 - Okay. - Strategy. 1079 00:54:03,840 --> 00:54:05,280 Strategy. 1080 00:54:05,360 --> 00:54:07,160 - Fundraising. - Fundraising. 1081 00:54:07,400 --> 00:54:08,840 - Sales. - There is Sales. 1082 00:54:08,920 --> 00:54:10,400 - And then Marketing. - And Marketing. 1083 00:54:10,440 --> 00:54:12,520 Marketing is your High Card. 1084 00:54:12,960 --> 00:54:13,960 This is interesting 1085 00:54:14,040 --> 00:54:16,680 because yours is a product-led business 1086 00:54:16,760 --> 00:54:18,240 and you didn't choose Product, why so? 1087 00:54:18,240 --> 00:54:22,160 I think we've already achieved a strong product to a certain level. 1088 00:54:49,000 --> 00:54:51,640 You should download the PokerBaazi app, 1089 00:54:51,720 --> 00:54:54,040 use your strategy and create your winning hand. 1090 00:54:54,120 --> 00:54:55,160 Download the app now! 1091 00:54:55,320 --> 00:54:58,280 'Shark Tank India, co-presented by ACKO Insurance, 1092 00:54:58,360 --> 00:55:00,400 'PokerBaazi and Swiggy Instamart.' 1093 00:55:00,480 --> 00:55:03,080 'Co-powered by Adani and Jaquar Bath and Light.' 1094 00:55:03,160 --> 00:55:05,760 'And partners, Rayzon Solar, ICICI Direct' 1095 00:55:05,920 --> 00:55:07,160 'and Lenskart.' 1096 00:55:07,360 --> 00:55:09,240 [theme music playing] 1097 00:55:15,760 --> 00:55:18,240 [theme music playing] 1098 00:55:29,160 --> 00:55:31,920 Sharks, have you ever felt 1099 00:55:32,040 --> 00:55:33,480 that tingling sensation 1100 00:55:33,600 --> 00:55:36,160 when you're sitting on the floor, and suddenly when you stand up, 1101 00:55:36,320 --> 00:55:37,360 your leg feels numb? 1102 00:55:37,440 --> 00:55:40,480 After two minutes, it returns to normal. 1103 00:55:40,560 --> 00:55:43,880 In diabetic patients, after the nerve is damaged, 1104 00:55:44,000 --> 00:55:46,200 this sensation is lifelong. 1105 00:55:46,320 --> 00:55:48,920 Sharks, more than 500 million diabetes patients 1106 00:55:49,040 --> 00:55:50,520 could be affected by this. 1107 00:55:58,360 --> 00:56:00,200 In the future, this injury 1108 00:56:00,360 --> 00:56:03,080 can turn into an ulcer or gangrene, 1109 00:56:03,240 --> 00:56:06,080 which may eventually lead to leg amputation. 1110 00:56:07,120 --> 00:56:09,680 Sharks, every 30 seconds, 1111 00:56:17,160 --> 00:56:20,160 can be avoided if nerve damage is detected 1112 00:56:20,280 --> 00:56:22,000 early and accurately through proper testing. 1113 00:56:28,480 --> 00:56:32,280 Our mission is to make this test affordable and accessible 1114 00:56:32,360 --> 00:56:33,480 at Ayati devices. 1115 00:56:39,040 --> 00:56:41,320 And we bring to you, Vibrasense. 1116 00:57:32,840 --> 00:57:35,080 so that, through timely detection, 1117 00:57:35,240 --> 00:57:39,680 we can help diabetic patients avoid foot amputation surgeries. 1118 00:57:39,760 --> 00:57:43,840 For this, our ask is Rs. 1 crore for 2% equity. 1119 00:57:48,800 --> 00:57:49,800 Nishant, 1120 00:57:50,240 --> 00:57:53,000 welcome to Shark Tank India Season 4. 1121 00:58:00,480 --> 00:58:04,080 I completed my graduation in electronics and communication. 1122 00:58:04,320 --> 00:58:06,760 I got admission to IIT Bombay 1123 00:58:14,520 --> 00:58:18,080 where doctors and engineers make a team 1124 00:58:18,240 --> 00:58:20,360 and solve a real-life problem. 1125 00:58:20,520 --> 00:58:23,880 In this course, the doctor mentioned diabetic foot. 1126 00:58:24,240 --> 00:58:27,280 When we created the prototype and discussed it with doctors, 1127 00:58:27,400 --> 00:58:30,680 I discovered that three members of my family 1128 00:58:30,760 --> 00:58:32,880 have this condition, and they are in a severe stage. 1129 00:58:33,080 --> 00:58:35,200 - Wow! - That is how I was motivated 1130 00:58:35,440 --> 00:58:36,720 and after my MTech, 1131 00:58:37,000 --> 00:58:39,360 we researched this for a year. 1132 00:58:46,800 --> 00:58:50,160 And the company started in 2019. 1133 00:58:50,280 --> 00:58:51,720 Where do you operate from currently? 1134 00:58:55,280 --> 00:58:58,440 - Nishant, India is the diabetes capital of the world, right? - Yes. 1135 00:58:58,760 --> 00:59:01,560 What percentage of the diabetic population 1136 00:59:01,680 --> 00:59:05,200 face this extreme issue? Do you have some numbers? 1137 00:59:05,920 --> 00:59:09,560 The recorded number for India is 100 million diabetic patients. 1138 00:59:35,960 --> 00:59:39,920 a nerve conduction test or something else? Get into the details. 1139 00:59:40,600 --> 00:59:43,240 The gold standard test for detection 1140 00:59:43,320 --> 00:59:44,960 - is the Nerve Conduction Study. - Okay. 1141 00:59:50,360 --> 00:59:53,480 One transmits an electrical impulse 1142 00:59:53,640 --> 00:59:55,440 and the other receives it. 1143 00:59:55,520 --> 00:59:57,040 Since the distance between them is known, 1144 00:59:57,080 --> 00:59:59,320 the velocity can be calculated. 1145 01:00:00,160 --> 01:00:02,760 By analysing the amplitude and wave of this velocity, 1146 01:00:02,840 --> 01:00:05,480 we can determine whether the patient has neuropathy. 1147 01:00:11,560 --> 01:00:13,320 It's around 40 to 60 minutes. 1148 01:00:24,720 --> 01:00:26,400 So, what we did was 1149 01:00:26,480 --> 01:00:30,440 quantify the sensation loss caused by nerve damage. 1150 01:00:30,560 --> 01:00:33,120 So, one of the sensations which is lost in neuropathy 1151 01:00:33,240 --> 01:00:34,360 is vibration. 1152 01:00:34,480 --> 01:00:36,200 This is easily detectable. 1153 01:00:36,280 --> 01:00:40,480 We generate vibration stimuli at a controlled frequency 1154 01:00:40,680 --> 01:00:42,440 and amplitude, 1155 01:00:42,560 --> 01:00:43,800 applying them to the skin. 1156 01:01:08,480 --> 01:01:11,400 and apply it to multiple locations on the patient and ask the patient. 1157 01:01:11,560 --> 01:01:14,200 However, this test is highly qualitative and subjective. 1158 01:01:14,840 --> 01:01:16,400 That is what happens globally. 1159 01:01:16,480 --> 01:01:17,600 This is what it is globally. 1160 01:01:17,640 --> 01:01:19,320 There is no machine from 1161 01:01:19,400 --> 01:01:22,360 So, there is a measure for vibration, VPT. 1162 01:01:29,320 --> 01:01:32,560 - Yes! - The device is made of steel with a rubber-like component. 1163 01:01:32,800 --> 01:01:36,080 There is one more device to quantify it, biothesiometer. 1164 01:01:44,560 --> 01:01:46,480 The test lasts for 15-20 minutes. 1165 01:01:46,600 --> 01:01:48,520 When you go to Tier 2 and Tier 3 cities, 1166 01:01:48,600 --> 01:01:50,920 one doctor tests more than 100 patients. 1167 01:01:51,400 --> 01:01:54,640 And they can't spend 10-15 minutes behind every patient. 1168 01:01:54,760 --> 01:01:56,160 So, we've turned that device 1169 01:01:56,240 --> 01:01:59,560 into a portable version that can be kept on the doctor's table 1170 01:01:59,720 --> 01:02:00,720 and quantified. 1171 01:02:04,040 --> 01:02:06,360 If there are 100 patients who suffer from neuropathy, 1172 01:02:18,880 --> 01:02:20,240 Yes, I am very curious. 1173 01:02:20,360 --> 01:02:21,680 [music playing] 1174 01:02:23,240 --> 01:02:25,320 Emcure also used this device. 1175 01:02:25,440 --> 01:02:26,600 - Oh, really? - Yes. 1176 01:02:27,040 --> 01:02:29,240 - Do we use it in our camps? - Yes. 1177 01:02:29,320 --> 01:02:30,560 Very nice to hear. 1178 01:02:31,120 --> 01:02:33,680 It has a display that shows the severity 1179 01:02:33,760 --> 01:02:35,640 of the level of stimulus. 1180 01:02:35,720 --> 01:02:37,560 There is a white coloured probe 1181 01:02:37,680 --> 01:02:39,480 which will generate controlled stimulus. 1182 01:02:39,600 --> 01:02:42,800 First I will connect you to the application. 1183 01:02:42,920 --> 01:02:46,720 Once it pairs, I will record your basic history. 1184 01:02:46,840 --> 01:02:48,080 So, Diabetes Type. 1185 01:02:48,200 --> 01:02:50,080 - None! - None! 1186 01:02:50,680 --> 01:02:54,640 I will do it on the hand to show you how it feels. 1187 01:02:55,200 --> 01:02:58,640 When you feel something you can say 'yes' or show your thumb. 1188 01:03:00,680 --> 01:03:04,840 When you feel this on your leg, say 'yes' or show your thumb. 1189 01:03:05,280 --> 01:03:08,520 I will test at 6 point. Position one first. 1190 01:03:09,600 --> 01:03:11,400 [music playing] 1191 01:03:14,320 --> 01:03:15,320 Yes, now. 1192 01:03:15,920 --> 01:03:18,240 I will save the P1 recording. 1193 01:03:18,320 --> 01:03:20,160 - What number was that? - 14. 1194 01:03:20,920 --> 01:03:22,920 So, below 15 is normal. 1195 01:03:23,120 --> 01:03:24,880 But 15 to 20 is mild. 1196 01:03:24,960 --> 01:03:26,440 Still very close 1197 01:03:26,520 --> 01:03:28,560 - to not being normal. - Yes, seriously! 1198 01:03:28,640 --> 01:03:31,440 To rectify this, 1199 01:03:31,520 --> 01:03:34,720 we place longitudinal graphs. 1200 01:03:34,800 --> 01:03:37,600 For example, today is the first day of the test. 1201 01:03:37,760 --> 01:03:40,600 After a certain time, when the doctor recommends this again 1202 01:03:40,880 --> 01:03:43,840 when we do the test again, we see a graph 1203 01:03:44,000 --> 01:03:46,640 of whether the patient is progressing or not. 1204 01:03:47,120 --> 01:03:49,840 I am entering position 2. 1205 01:03:51,160 --> 01:03:52,160 Yes, now! 1206 01:03:55,760 --> 01:03:57,000 Now. Yeah! 1207 01:03:57,400 --> 01:03:59,160 Is it over now? Can I go? 1208 01:03:59,400 --> 01:04:00,760 Show us the report. 1209 01:04:02,880 --> 01:04:04,480 This is how the report is generated. 1210 01:04:04,560 --> 01:04:06,920 The patient's basic details are at the top. 1211 01:04:07,200 --> 01:04:10,400 This is the foot report, which falls under the green category. 1212 01:04:10,480 --> 01:04:11,600 So green means normal. 1213 01:04:11,720 --> 01:04:15,840 When symptoms progress further, it will turn yellow. 1214 01:04:15,960 --> 01:04:19,200 And in severe cases, it will turn red. 1215 01:04:20,120 --> 01:04:22,320 So your average BPT is 11, 1216 01:04:22,400 --> 01:04:23,840 - which is considered normal. - Okay. 1217 01:04:24,240 --> 01:04:25,440 Oh, thank god! 1218 01:04:26,120 --> 01:04:29,760 Right now, how are you selling this, through doctors or enabling doctors? 1219 01:04:30,600 --> 01:04:33,560 First, we collect leads. Either through distributors. 1220 01:04:33,680 --> 01:04:35,160 Whose leads do you gather? 1221 01:04:35,320 --> 01:04:37,120 - Doctors' leads. - Doctors' leads? Okay. 1222 01:04:37,200 --> 01:04:38,280 What kind of doctors? 1223 01:04:38,880 --> 01:04:40,760 Primary doctors, MBBS doctors 1224 01:04:40,840 --> 01:04:42,720 who treat diabetic patients as well. 1225 01:04:42,800 --> 01:04:44,240 And diabetologists too. 1226 01:04:53,120 --> 01:04:56,840 But in the long run, we aim to charge for software too. 1227 01:04:58,000 --> 01:05:00,160 So how many units have you sold so far? 1228 01:05:00,320 --> 01:05:02,520 More than 4,000 units. 1229 01:05:02,760 --> 01:05:04,200 And not only in India, 1230 01:05:04,360 --> 01:05:07,120 we have exported it to over 15 countries. 1231 01:05:07,200 --> 01:05:08,840 What is the average price per unit? 1232 01:05:30,840 --> 01:05:34,600 Can you share your revenues from last year and last month? 1233 01:05:34,840 --> 01:05:37,200 - Last year, we closed... - When did you start sales? 1234 01:05:37,360 --> 01:05:40,840 - We started at the end of 2021. Okay. - So tell us from then. 1235 01:05:41,640 --> 01:05:44,280 The last closing was 2.3 crore rupees. 1236 01:05:44,360 --> 01:05:46,520 Before that, 1.75 crore. 1237 01:05:46,720 --> 01:05:48,720 And before that, 1.3 crore. 1238 01:05:48,880 --> 01:05:51,000 And now we have turned profitable. 1239 01:05:51,080 --> 01:05:53,080 Last year, how many unique orders 1240 01:05:54,800 --> 01:05:55,840 Over 200. 1241 01:05:56,480 --> 01:05:58,120 Most of them were from pharma companies. 1242 01:05:58,320 --> 01:05:59,600 How much will you do this year? 1243 01:05:59,720 --> 01:06:01,520 - Six and a half crore rupees. - Oh! 1244 01:06:01,680 --> 01:06:02,680 What changed suddenly? 1245 01:06:02,720 --> 01:06:05,240 Until now, we have manufacturing the three products. 1246 01:06:05,360 --> 01:06:07,920 The first step for diabetic patients is early detection. 1247 01:06:08,160 --> 01:06:11,040 Then, for treatment purposes, we shift to Vibrasense + T. 1248 01:06:11,240 --> 01:06:14,400 And when injured, Angiocam assesses healing potential. 1249 01:06:14,520 --> 01:06:17,040 You have only given a demo of Vibrasense, right? 1250 01:06:17,600 --> 01:06:19,800 I can also demonstrate Vibrasense + T. 1251 01:06:19,880 --> 01:06:21,560 - What is that? - It is yet to be launched. 1252 01:06:21,800 --> 01:06:23,040 What does it do? 1253 01:06:23,360 --> 01:06:27,160 There are two types of nerve fibres, large and small nerve fibres. 1254 01:06:45,920 --> 01:06:47,280 or small fibre nerve damage. 1255 01:06:54,120 --> 01:06:57,080 What about this Angiocam? Is it a treatment or not? 1256 01:06:57,680 --> 01:07:00,040 Angiocam is a laser-based device. 1257 01:07:00,120 --> 01:07:03,120 It's India's first and globally the fourth or fifth in this segment. 1258 01:07:03,200 --> 01:07:05,160 Where is the Angiocam device? 1259 01:07:05,640 --> 01:07:06,720 Angiocam device. 1260 01:07:12,080 --> 01:07:13,840 Sir, this is Angiocam. 1261 01:07:13,920 --> 01:07:15,960 In the middle, there is a camera 1262 01:07:16,080 --> 01:07:18,080 that captures images of the wound. 1263 01:07:19,040 --> 01:07:21,240 On the sides, there are two focus lasers 1264 01:07:21,560 --> 01:07:24,520 that help focus on the wound. 1265 01:07:24,760 --> 01:07:26,720 And then there is an IR laser, 1266 01:07:26,880 --> 01:07:29,680 an infrared laser, that illuminates the skin 1267 01:07:29,840 --> 01:07:31,480 wherever I need to focus. 1268 01:07:32,240 --> 01:07:34,360 When it illuminates, 1269 01:07:34,480 --> 01:07:36,520 if I give you a normal example, 1270 01:07:36,600 --> 01:07:38,840 imagine you are standing by a swimming pool with no water in it. 1271 01:07:38,840 --> 01:07:41,320 And you drop a one-rupee coin inside. 1272 01:07:41,480 --> 01:07:43,520 When you look at it, 1273 01:07:43,640 --> 01:07:45,760 you will see it sharply. 1274 01:07:45,880 --> 01:07:49,080 But if the pool has water, the same coin will appear blurry. 1275 01:07:49,200 --> 01:07:51,360 We use a similar technology 1276 01:07:51,440 --> 01:07:54,680 for the hand. Suppose there is an injury here. 1277 01:07:54,840 --> 01:07:57,040 If there is no blood flow in the skin, 1278 01:07:57,120 --> 01:07:59,080 we will see the image clearly. 1279 01:07:59,320 --> 01:08:02,120 But if there is blood flow, it will appear blurry. 1280 01:08:02,200 --> 01:08:04,960 The level of blurriness is measured using a technology called 1281 01:08:05,160 --> 01:08:07,160 laser spectral contrast imaging, 1282 01:08:19,080 --> 01:08:22,160 - One is vibration-based detection. - Yes. 1283 01:08:22,400 --> 01:08:25,400 And the other seems to be spectral analysis-based detection. 1284 01:08:25,760 --> 01:08:27,280 No, it is not spectral. 1285 01:08:27,360 --> 01:08:30,560 - Let's call it vision-based. - Alright. 1286 01:08:30,960 --> 01:08:33,160 Don't you think the approaches are different? 1287 01:08:33,360 --> 01:08:35,320 Kunal, the use cases are different here. 1288 01:08:35,640 --> 01:08:37,680 This is for neuropathy detection. 1289 01:08:37,760 --> 01:08:39,760 This is to determine whether an injury will heal or not. 1290 01:08:39,800 --> 01:08:44,240 I understand. Why dive so deep into two separate technologies? 1291 01:08:44,680 --> 01:08:48,280 Our mission is to prevent diabetic foot amputations. 1292 01:08:48,400 --> 01:08:49,600 There are two main causes, 1293 01:08:49,680 --> 01:08:52,160 one is neuropathy, and the other is peripheral artery disease, 1294 01:08:52,320 --> 01:08:53,960 which blocks blood flow. 1295 01:08:54,200 --> 01:08:57,680 To reduce amputations, we need to work on these technologies. 1296 01:08:57,760 --> 01:09:00,120 But do you think this can become a big business? 1297 01:09:00,880 --> 01:09:03,520 - Both of these can become huge businesses. - Which one? 1298 01:09:03,640 --> 01:09:06,720 - This and Vibrasense? - Vibrasense, Vibrasense T, and Angiocam. 1299 01:09:07,040 --> 01:09:10,880 - Can Vibrasense and Vibrasense T become a big business? - It can. 1300 01:09:11,000 --> 01:09:12,520 Then why are you spending time on this? 1301 01:09:12,960 --> 01:09:15,520 Actually, those products are already developed. 1302 01:09:15,720 --> 01:09:17,280 You have done six crore rupees in sales. 1303 01:09:17,280 --> 01:09:18,480 We are a young company. 1304 01:09:18,920 --> 01:09:20,240 You have done great work. 1305 01:09:20,360 --> 01:09:21,640 You made excellent progress. 1306 01:09:22,120 --> 01:09:23,480 But why not focus? 1307 01:09:24,120 --> 01:09:26,480 The overall focus here is on 1308 01:09:26,600 --> 01:09:28,440 preventing foot amputation. 1309 01:09:28,760 --> 01:09:30,160 That is also scaling up. It's not like that. 1310 01:09:30,200 --> 01:09:33,040 I am not doing this alone. My team includes 1311 01:09:33,120 --> 01:09:34,640 - doctors... - Alright. 1312 01:09:34,760 --> 01:09:36,680 What's the revenue share of Vibrasense, 1313 01:09:36,760 --> 01:09:38,200 Vibrasense T, and Angiocam? 1314 01:09:38,280 --> 01:09:41,280 Currently, the entire revenue comes from Vibrasense. 1315 01:09:44,120 --> 01:09:47,440 But what about your IP protection? Do you have patents? 1316 01:09:47,800 --> 01:09:50,760 We have four patents, out of which two have already been granted. 1317 01:09:50,960 --> 01:09:52,480 And what are these patents for? 1318 01:09:54,520 --> 01:09:56,200 The technology we have invented, 1319 01:09:56,280 --> 01:09:58,200 how is it providing consistent streamers. 1320 01:10:03,760 --> 01:10:05,880 The raw materials and the manufacturing process 1321 01:10:06,000 --> 01:10:08,640 we use, the tolerances we maintain, 1322 01:10:08,880 --> 01:10:09,600 that is our experience. 1323 01:10:09,680 --> 01:10:12,400 How much money have you invested in manufacturing? 1324 01:10:12,960 --> 01:10:16,720 - Around nine crore rupees have been used. - Nine crores 1325 01:10:16,800 --> 01:10:17,960 in manufacturing? 1326 01:10:18,040 --> 01:10:19,800 Not only manufacturing, overall. 1327 01:10:19,880 --> 01:10:21,920 - Business operations as well. - Okay. 1328 01:10:22,000 --> 01:10:23,600 So you have raised funding? 1329 01:10:24,040 --> 01:10:27,040 Yes. We received a grant of three crore rupees. 1330 01:10:27,520 --> 01:10:31,040 The remaining six crores were raised in different years. 1331 01:10:31,160 --> 01:10:32,520 Can you provide a funding history? 1332 01:10:32,720 --> 01:10:35,960 We raised 1.85 crore rupees in 2021 1333 01:10:36,120 --> 01:10:38,040 - at a valuation of 15 crore rupees. - From whom? 1334 01:10:38,160 --> 01:10:41,760 - IIT Bombay, Sion invested. - Okay, and? 1335 01:10:41,960 --> 01:10:45,160 In 2022, we raised one crore rupees from angel investors 1336 01:10:45,240 --> 01:10:46,760 at a valuation of 21 crore rupees. 1337 01:10:47,520 --> 01:10:50,840 And then in 2023-24, we raised a CCPS round 1338 01:10:50,920 --> 01:10:53,360 of around three crore rupees. 1339 01:10:53,520 --> 01:10:55,360 The cap is 50 crore rupees. 1340 01:11:02,040 --> 01:11:04,120 Its lifetime is three years. 1341 01:11:05,040 --> 01:11:07,520 - You said you have sold 4000 units? - Yes. 1342 01:11:07,720 --> 01:11:10,520 Out of those, how many were sold to pharma companies, 1343 01:11:10,520 --> 01:11:11,600 how many to doctors... 1344 01:11:15,400 --> 01:11:19,160 - We sold 85 per cent to pharma companies. - Oh really? 1345 01:11:19,240 --> 01:11:23,760 And around 10 per cent to doctors and individuals. 1346 01:11:24,080 --> 01:11:27,840 Some were also sold to telemedicine companies and government NGOs. 1347 01:11:29,160 --> 01:11:31,200 Then why haven't you cracked the doctor market yet? 1348 01:11:31,960 --> 01:11:34,840 So far, we have reached only eight pharma companies, 1349 01:11:34,920 --> 01:11:37,040 whereas there are 120 pharma companies 1350 01:11:37,120 --> 01:11:38,800 supplying neuropathic drugs. 1351 01:11:38,880 --> 01:11:42,080 We are getting a push from pharma companies, and doctors are using it. 1352 01:11:42,200 --> 01:11:44,320 We have seen that our sales process 1353 01:11:44,440 --> 01:11:46,920 starts with a camp, a doctor sees the product, 1354 01:11:47,040 --> 01:11:49,600 and when they realise it generates business sales as well, 1355 01:11:49,800 --> 01:11:52,440 they directly purchase the device. Some referrals... 1356 01:11:52,600 --> 01:11:55,040 But your data does not show that. 1357 01:11:55,120 --> 01:11:57,120 - Your sales from doctors are quite low. - Yes. 1358 01:11:57,240 --> 01:11:59,160 I feel 1359 01:11:59,440 --> 01:12:01,360 you are solving a real problem. 1360 01:12:01,520 --> 01:12:03,720 That is clear from your conversation. 1361 01:12:11,200 --> 01:12:13,320 One crore rupees for five per cent equity. 1362 01:12:18,360 --> 01:12:20,880 We both can work together as a team. 1363 01:12:21,200 --> 01:12:24,800 She can bring you a lot of connections in pharmaceuticals and doctors. 1364 01:12:25,720 --> 01:12:29,240 Secondly, we can help with scaling R&D 1365 01:12:29,440 --> 01:12:31,080 and manufacturing. 1366 01:12:31,320 --> 01:12:33,320 Emcure has invested in biotech. 1367 01:12:33,400 --> 01:12:37,120 Very few pharma companies invest in biosimilars or biotechnology. 1368 01:12:37,440 --> 01:12:40,520 From your first cheque to your first revenue, 1369 01:12:40,600 --> 01:12:42,160 it takes at least 12 to 15 years. 1370 01:12:42,560 --> 01:12:44,920 So taking a long-term approach is very important, 1371 01:12:45,000 --> 01:12:47,520 which we are willing to do, subject to technical due diligence. 1372 01:12:47,640 --> 01:12:50,520 I am very long-term in this, and so is Namita. 1373 01:12:51,720 --> 01:12:55,640 I think this is a fantastic product and a great business. 1374 01:12:55,720 --> 01:12:58,400 I genuinely feel that Namita can add 1375 01:12:58,480 --> 01:13:01,880 much more value to you in terms of opening doors than I can. 1376 01:13:03,200 --> 01:13:07,000 So right now, I don't think it makes sense for me to make an offer. 1377 01:13:11,800 --> 01:13:13,040 Thank you. 1378 01:13:14,400 --> 01:13:16,920 My big issue with this is that 1379 01:13:17,040 --> 01:13:19,800 in the last couple of years, 1380 01:13:20,200 --> 01:13:22,320 you have not been able to penetrate the doctor market. 1381 01:13:24,160 --> 01:13:27,560 And I think neuropathy devices, 1382 01:13:28,240 --> 01:13:30,200 the technology is interesting. 1383 01:13:30,400 --> 01:13:32,880 But it doesn't seem complex enough 1384 01:13:33,200 --> 01:13:34,480 to lack alternatives. 1385 01:13:35,640 --> 01:13:38,360 Let me complicate your life a little more. 1386 01:13:41,080 --> 01:13:42,760 I think you should think of another device. 1387 01:13:44,080 --> 01:13:47,600 You talked about tracking blood flow 1388 01:13:48,320 --> 01:13:50,240 through vision, 1389 01:13:50,800 --> 01:13:54,080 if you can go deep into this 1390 01:13:54,640 --> 01:13:57,360 and track glucose levels 1391 01:13:58,000 --> 01:13:59,000 through vision, 1392 01:14:05,960 --> 01:14:07,680 - Good luck. - Thanks, Anupam. 1393 01:14:07,840 --> 01:14:09,440 You are very impressive. 1394 01:14:16,120 --> 01:14:18,680 There are also some to-be-determined aspects of the business. 1395 01:14:18,960 --> 01:14:21,080 But I feel it's still a bit early for the business. 1396 01:14:22,760 --> 01:14:25,120 So for now, I am out. But I wish you all the best. 1397 01:14:27,480 --> 01:14:29,520 Nishant, you have only one offer. 1398 01:14:30,000 --> 01:14:31,160 What do you want to do? 1399 01:14:33,880 --> 01:14:35,760 Thanks, Peyush. Thanks, Namita. 1400 01:14:36,800 --> 01:14:39,080 - Can I make a counteroffer? - Of course, it's your right. 1401 01:14:39,920 --> 01:14:42,320 One crore rupees for four per cent equity. 1402 01:14:48,000 --> 01:14:49,320 at a valuation of 21 crore rupees. 1403 01:14:49,360 --> 01:14:50,760 If we go to 20 crore rupees, it will affect... 1404 01:14:50,800 --> 01:14:52,680 - Then do it at 21 crores. - Let's do at 21. 1405 01:14:52,800 --> 01:14:55,160 I'll tell you something. You understand CCPS, right? 1406 01:14:55,240 --> 01:14:56,400 It's preference shares. 1407 01:14:56,480 --> 01:14:58,880 Namita, but the round we raised 1408 01:14:59,000 --> 01:15:01,040 was in 2022. 1409 01:15:01,120 --> 01:15:03,040 After that, we also received patent grants. 1410 01:15:03,120 --> 01:15:04,280 No, I understand. 1411 01:15:04,360 --> 01:15:07,080 But you also need to understand that if you have come here... 1412 01:15:07,160 --> 01:15:09,800 Nishant, it comes to 4.76 per cent. 1413 01:15:09,880 --> 01:15:11,280 Nishant, I haven't made an offer, 1414 01:15:11,360 --> 01:15:13,200 but as a friend, this is a no-brainer. Take it. 1415 01:15:15,160 --> 01:15:18,160 So our counteroffer is one crore at 4.76 per cent 1416 01:15:24,840 --> 01:15:26,480 - Can we do four per cent? - No. 1417 01:15:26,600 --> 01:15:29,040 I will not. Then, Peyush, you can go solo. 1418 01:15:29,160 --> 01:15:31,240 We are not like your other investors. 1419 01:15:31,640 --> 01:15:33,200 [dramatic music] 1420 01:15:35,080 --> 01:15:36,560 Nishant, time for a decision. 1421 01:15:36,640 --> 01:15:38,360 [dramatic music] 1422 01:15:41,640 --> 01:15:42,880 - Deal! - Oh, lovely! 1423 01:15:52,120 --> 01:15:53,760 they will bring to the company 1424 01:15:53,840 --> 01:15:55,960 matters a lot. 1425 01:15:56,120 --> 01:15:58,080 Looking forward to working together. 1426 01:16:03,800 --> 01:16:05,640 [bright music] 1427 01:16:11,920 --> 01:16:15,400 Welcome to Acko Change Makers, where we truly welcome change. 1428 01:16:15,480 --> 01:16:19,560 And it has been beautifully portrayed behind me 1429 01:16:19,960 --> 01:16:21,400 on this Change Maker Wall. 1430 01:16:26,520 --> 01:16:28,360 we are empowering a change. 1431 01:16:28,520 --> 01:16:31,320 Our Change Maker for today is Nishant. 1432 01:16:31,600 --> 01:16:33,520 - Hi, Nishant. - Hi, Sahiba. 1433 01:16:33,720 --> 01:16:36,680 Many people in my house also had diabetes. 1434 01:16:36,960 --> 01:16:38,480 Not only for me but for our viewers, 1435 01:16:38,560 --> 01:16:41,040 India is one of the leading countries for diabetes. 1436 01:16:41,040 --> 01:16:42,480 What kind of change can we bring 1437 01:16:42,560 --> 01:16:45,320 that we can start tracking or monitoring it better and earlier? 1438 01:16:45,760 --> 01:16:47,480 Our body produces insulin. 1439 01:16:47,600 --> 01:16:50,960 If the body uses the insulin, then we won't have diabetes. 1440 01:16:51,120 --> 01:16:53,240 If the body is not using the insulin 1441 01:16:53,320 --> 01:16:55,360 - or not producing it then it can lead to diabetes. - Right. 1442 01:16:55,400 --> 01:16:57,800 If we change our habits 1443 01:16:57,920 --> 01:16:59,960 and eat food on time, 1444 01:17:00,080 --> 01:17:02,520 sleep on time, do our exercise 1445 01:17:02,720 --> 01:17:06,360 - then I don't diabetes will be a problem for us. - Right. 1446 01:17:06,560 --> 01:17:09,920 Wow, that means I have to bring many changes in my lifestyle. 1447 01:17:10,000 --> 01:17:11,560 I have to do it too. 1448 01:17:11,800 --> 01:17:14,600 ACKO is changing the insurance landscape 1449 01:17:14,680 --> 01:17:16,520 along with its revolutionary offerings. 1450 01:17:16,600 --> 01:17:20,080 Get rid of spam calls while taking car insurance. 1451 01:17:20,320 --> 01:17:23,880 Avoid the confusion between price and policy coverage. 1452 01:17:23,960 --> 01:17:25,920 Take ACKO's car insurance. 1453 01:17:26,040 --> 01:17:29,760 It's easy, transparent, hassle free and offers the right premium. 1454 01:17:29,840 --> 01:17:33,400 Because you're bringing this change, we want to thank you for your time 1455 01:17:33,480 --> 01:17:36,640 in the Tank and congratulate you. On behalf of ACKO and Shark Tank 1456 01:17:37,440 --> 01:17:39,640 here's a small gratitude. 1457 01:17:39,920 --> 01:17:41,960 [camera clicking] 1458 01:17:48,040 --> 01:17:50,320 Welcome to 'Adani presents Beyond The Tank.' 1459 01:17:55,240 --> 01:17:57,680 'Winston makes beauty appliances' 1460 01:17:57,760 --> 01:18:01,800 'which can used at home, with salon-like results.' 1461 01:18:02,120 --> 01:18:04,120 'As of now, we have eight products' 1462 01:18:04,200 --> 01:18:06,760 like face trimmer, eyebrow trimmer blackhead remover.' 1463 01:18:07,000 --> 01:18:08,120 'LED face mask' 1464 01:18:08,200 --> 01:18:11,800 'and to achieve this we use the 3-S strategy.' 1465 01:18:11,880 --> 01:18:14,040 - 'Smart.' - Sturdy. - 'And super easy.' 1466 01:18:14,200 --> 01:18:17,000 - One of the Sharks said... - There are 4-S. You forgot ***. 1467 01:18:17,520 --> 01:18:19,920 'They are very suggestive and well-designed products.' 1468 01:18:20,320 --> 01:18:21,600 'What are your numbers currently?' 1469 01:18:21,640 --> 01:18:24,480 'We have done 150 until July this year.' 1470 01:18:24,560 --> 01:18:26,760 'And this year we will clock six.' 1471 01:18:26,840 --> 01:18:29,040 'Six crores is not a joke.' 1472 01:18:29,160 --> 01:18:31,560 - 'To make out of a trading business. - Right.' 1473 01:18:31,640 --> 01:18:33,320 'We will offer you a deal.' 1474 01:18:33,440 --> 01:18:35,480 'Vineeta and I will give you a fair valuation' 1475 01:18:35,560 --> 01:18:38,440 'which is for today's market and that is 10 crores.' 1476 01:18:38,600 --> 01:18:41,240 'It will cost you 10%.' 1477 01:18:41,720 --> 01:18:43,360 - 'of your company. - The deal is final.' 1478 01:18:43,480 --> 01:18:45,200 - 'All right. - Wow.' 1479 01:18:47,680 --> 01:18:50,280 Please welcome the founders of Winston, 1480 01:18:50,360 --> 01:18:54,080 Nikita and Himanshu. In your journey of Shark Tank 1481 01:18:54,160 --> 01:18:57,080 what changes did you see, personally and professionally? 1482 01:18:57,160 --> 01:18:58,960 We had just started our company. 1483 01:18:59,040 --> 01:19:00,920 Then we actually got to know a lot of things. 1484 01:19:01,040 --> 01:19:03,160 We did not know how to maintain EBITDA. 1485 01:19:03,240 --> 01:19:06,440 Even as entrepreneurs you got to learn from Shark Tank. 1486 01:19:06,520 --> 01:19:08,640 - 100%, we learnt many things. - We learnt many things. 1487 01:19:08,680 --> 01:19:11,240 Our biggest learning in the initial phase was that 1488 01:19:11,320 --> 01:19:14,320 all the Sharks say that if you want to build a brand 1489 01:19:14,400 --> 01:19:15,920 then don't launch everything. 1490 01:19:16,000 --> 01:19:17,640 Start with one or two products 1491 01:19:17,720 --> 01:19:19,920 - and make them your hero SKUs. - Hmm. 1492 01:19:20,000 --> 01:19:22,120 and then slowly build with it. 1493 01:19:22,280 --> 01:19:23,880 I love the packaging. 1494 01:19:23,960 --> 01:19:26,040 It's very good packaging. It gives a premium look. 1495 01:19:26,120 --> 01:19:29,320 The packaging that you're seeing now is an entire brand revamp. 1496 01:19:29,440 --> 01:19:32,000 - Your logo is different. You're right. - Yes. 1497 01:19:32,120 --> 01:19:34,640 The logo has changed. And the products that you're seeing here 1498 01:19:34,720 --> 01:19:37,400 are released in a mid-premium category. 1499 01:19:37,480 --> 01:19:39,960 How has having two Sharks 1500 01:19:40,120 --> 01:19:42,560 benefited your business. I know you have Anupam and Vineeta. 1501 01:19:42,680 --> 01:19:45,320 - This is very interesting. Our packaging, - Hmm 1502 01:19:45,680 --> 01:19:46,960 was also approved by the Sharks. 1503 01:19:47,120 --> 01:19:48,360 - Even, in fact, the logo. - Oh, wow. 1504 01:19:48,400 --> 01:19:50,000 We are on a WhatsApp group, 1505 01:19:50,200 --> 01:19:52,600 so we sent a logo to the group. 1506 01:19:52,960 --> 01:19:56,760 And Vineeta gave us such a detailed description of it. 1507 01:19:56,840 --> 01:19:59,800 She made a comparison of what our logo looks like 1508 01:20:00,040 --> 01:20:02,360 - And the other brands. - and what the competitors are looking like. 1509 01:20:02,400 --> 01:20:05,280 How old the font is that was used. 1510 01:20:05,360 --> 01:20:07,320 And where we stand in comparison. 1511 01:20:07,400 --> 01:20:09,640 We are delighted with both our Sharks. 1512 01:20:09,720 --> 01:20:13,720 - Because both are encyclopedias and we even call them that. - True. 1513 01:20:13,800 --> 01:20:16,480 And they give a very detailed description for everything. 1514 01:20:16,560 --> 01:20:17,760 They are always there to help. 1515 01:20:17,800 --> 01:20:20,800 But how did you celebrate now? Obviously, you got two sharks. 1516 01:20:20,920 --> 01:20:24,560 We told our influencer friends that we will celebrate together. 1517 01:20:24,680 --> 01:20:26,400 Our family and close friends were with us. 1518 01:20:26,480 --> 01:20:27,640 It was a big moment. 1519 01:20:27,720 --> 01:20:30,080 - We wanted to be in that moment. - Hmm. 1520 01:20:30,200 --> 01:20:31,480 We forgot that we have to check the orders. 1521 01:20:31,480 --> 01:20:34,120 We were prepared for the usual 1522 01:20:34,200 --> 01:20:35,760 maximum 100 orders that we would get. 1523 01:20:35,840 --> 01:20:37,320 - Did you have your Shopify store? - Yes. - Normally Shopify had 50. 1524 01:20:37,360 --> 01:20:40,240 - 50-100. - We knew we could manage 50-100 orders. 1525 01:20:40,360 --> 01:20:42,320 - We anticipated a 10x jump and not more than that. - Hmm. 1526 01:20:42,320 --> 01:20:44,440 But all the influences came and they all tagged us. 1527 01:20:44,560 --> 01:20:47,400 - 'Go watch... Our Brand is on...' - Oh, so the orders increased. 1528 01:20:47,480 --> 01:20:49,040 - More? - We were not expecting... 1529 01:20:49,120 --> 01:20:51,040 - Okay, give me a number. - You guess. 1530 01:20:51,120 --> 01:20:52,800 I would also assume 10x. 1531 01:20:52,880 --> 01:20:54,720 - We got 9,000 orders. - 9,000. 1532 01:20:54,840 --> 01:20:56,800 - 9,000. - 9,000. - 9,000. 1533 01:20:56,880 --> 01:20:58,760 We were also in shock. And the next step was, 1534 01:20:59,280 --> 01:21:01,360 we changed and ran to get the logistics into order. 1535 01:21:01,440 --> 01:21:02,840 How much inventory did you have at that time? 1536 01:21:02,880 --> 01:21:05,920 At that time, we had around 25,000 inventory. 1537 01:21:06,040 --> 01:21:08,160 - Okay. - Good if it gets sold or else we would sell all year long. 1538 01:21:08,200 --> 01:21:10,800 But we did not know 9,000 orders will come in 12 hours. 1539 01:21:10,880 --> 01:21:13,680 25,000 washed off till February. 1540 01:21:13,800 --> 01:21:15,800 And then there are reels on Instagram. 1541 01:21:15,800 --> 01:21:18,360 Despite preparation, we were out of stock. 1542 01:21:18,520 --> 01:21:21,920 - Monthly revenue of the month before Shark Tank. - 40 lakhs. 1543 01:21:22,000 --> 01:21:24,480 - What was it in January, after Tank? - After Tank... 1544 01:21:24,560 --> 01:21:25,560 2.5 CR. 1545 01:21:25,640 --> 01:21:28,080 I remember you had promised Anupam 1546 01:21:28,360 --> 01:21:31,520 - that you'll touch 6 CR that year. - Yes, we knew it would be 6 CR. 1547 01:21:31,880 --> 01:21:32,920 - Did you achieve it? - Yes. - Yes. 1548 01:21:32,920 --> 01:21:35,640 I'm very intrigued to know what is your next manifestation. 1549 01:21:35,800 --> 01:21:37,240 100 CR is there, of course. 1550 01:21:37,360 --> 01:21:39,440 - Which is next and it looks achievable. - Hmm. 1551 01:21:39,520 --> 01:21:40,560 I love the confidence. 1552 01:21:40,640 --> 01:21:42,160 - Yes. - '100 CR, it's achievable.' 1553 01:21:42,280 --> 01:21:43,120 We're already there at 50. 1554 01:21:43,160 --> 01:21:44,640 We're already at 50 and we know what the plan is. 1555 01:21:44,680 --> 01:21:45,160 Of course. 1556 01:21:45,240 --> 01:21:46,760 We have the products with us. 1557 01:21:46,960 --> 01:21:49,840 - So, it's already laid out. - Next year, we are going through Amazon. 1558 01:21:50,040 --> 01:21:51,600 We'll be launching in four countries. 1559 01:21:51,720 --> 01:21:52,320 - Very good. - Yes. 1560 01:21:52,520 --> 01:21:54,760 We were just waiting for this range to come up. 1561 01:21:54,880 --> 01:21:58,360 - Okay. - As I told you this is a mid-premium range. 1562 01:21:58,440 --> 01:22:01,680 Our ASP for the products 1563 01:22:01,760 --> 01:22:04,400 until now was between Rs 2,000 and Rs 3,000. 1564 01:22:04,600 --> 01:22:06,160 - Hmm. - So, now we are giving an upgrade. 1565 01:22:06,200 --> 01:22:09,520 Because now the times have changed. We want a lot more from one product. 1566 01:22:09,600 --> 01:22:12,000 That time you said that your distribution was 1567 01:22:12,080 --> 01:22:14,840 - website and marketplaces on Amazon and Nykaa. - We are everywhere. 1568 01:22:14,960 --> 01:22:18,480 What was the biggest challenge or obstacle in the recent three to four years. 1569 01:22:18,760 --> 01:22:20,080 Our industry is growing. 1570 01:22:20,160 --> 01:22:22,080 There are many other brands that are growing with us. 1571 01:22:22,080 --> 01:22:25,360 The market size is growing. To have a share in the market, 1572 01:22:25,520 --> 01:22:28,920 - Hmm. - in a category and sustaining it, is very difficult. 1573 01:22:29,000 --> 01:22:30,800 There is a category called 'Callus Remover.' 1574 01:22:30,920 --> 01:22:34,800 We have a 32% share in Callus Remover on Amazon. 1575 01:22:35,000 --> 01:22:37,520 That is a category which we made on Amazon. 1576 01:22:37,600 --> 01:22:40,320 We are also looking to sign an A-list celebrity 1577 01:22:40,520 --> 01:22:43,480 very soon. So, if anybody wants we are open. 1578 01:22:43,640 --> 01:22:46,040 To represent the brand, to be the face of the brand Winston. 1579 01:22:46,120 --> 01:22:49,560 We want to communicate that there's no need to give so much to International brands 1580 01:22:49,680 --> 01:22:51,760 - Yes. - There are Indian brands that are doing well. 1581 01:22:51,800 --> 01:22:52,920 Plus there is Make in India. 1582 01:22:53,000 --> 01:22:56,400 - You're getting the same premium brand. The same unboxing feeling. - Hmm. 1583 01:22:56,480 --> 01:22:58,120 To open it like an iPhone. 1584 01:22:58,200 --> 01:23:01,200 - We are giving that feeling. - All your branding and marketing 1585 01:23:01,360 --> 01:23:02,720 - will be done based on that. - Yes. 1586 01:23:02,760 --> 01:23:06,320 Guys, it was lovely talking to you. You gave me great insights into the market. 1587 01:23:06,400 --> 01:23:08,640 But your growth story 1588 01:23:08,840 --> 01:23:10,600 is great. You're growing 8x. 1589 01:23:10,880 --> 01:23:13,320 From 6 CR on the way to 50 CR. 1590 01:23:13,440 --> 01:23:15,920 And of course, your power of manifestation 1591 01:23:16,080 --> 01:23:18,120 which has completely replicated in your business. 1592 01:23:18,200 --> 01:23:20,000 I really hope it stays as powerful as it is. 1593 01:23:20,160 --> 01:23:22,520 And because of your spirit of 'We will do it and show' 1594 01:23:22,600 --> 01:23:26,000 Adani will honour you. I'll take you to the Adani 1595 01:23:26,120 --> 01:23:27,640 Hall of Achievements. 1596 01:23:27,720 --> 01:23:31,120 Nikita and Himanshu, welcome to the Adani Hall of Achievements. 1597 01:23:31,240 --> 01:23:32,280 Please tell me 1598 01:23:32,520 --> 01:23:35,840 how do you feel after seeing this journey? Are you feeling nostalgic? 1599 01:23:36,200 --> 01:23:38,320 - I'm getting goosebumps. - Are you getting goosebumps? - Yes. 1600 01:23:38,360 --> 01:23:40,800 I can see you were so nervous in this picture. 1601 01:23:40,880 --> 01:23:44,040 You look very happy but there is a cute nervousness. 1602 01:23:44,360 --> 01:23:47,680 But you've achieved so much from that point until now. 1603 01:23:54,720 --> 01:23:58,360 This is a little something from Adani to you. 1604 01:23:58,560 --> 01:23:59,920 - Thank you. - Thank you. 1605 01:24:00,040 --> 01:24:01,080 - Please hold it. - Yes. 1606 01:24:02,720 --> 01:24:04,520 - Hi, Vineeta. - Hi, Vineeta. 1607 01:24:04,720 --> 01:24:05,800 'Hi, how are you?' 1608 01:24:06,240 --> 01:24:07,920 - We are good. - Good, how are you? 1609 01:24:08,160 --> 01:24:09,560 'Congratulations.' 1610 01:24:09,680 --> 01:24:11,120 'You've touched five crores a month.' 1611 01:24:11,440 --> 01:24:12,720 - Yes. - Yes, we've touched five crores a month. 1612 01:24:12,760 --> 01:24:14,600 We've achieved the number we wrote. 1613 01:24:14,640 --> 01:24:17,920 - I think the next milestone is 100 crores. - 100%. 1614 01:24:18,200 --> 01:24:22,200 'You'll probably be the first company on Shark Tank who went from under 10 crores' 1615 01:24:22,280 --> 01:24:24,320 'to 100 crores, within such a short time.' 1616 01:24:24,440 --> 01:24:27,480 We get guidance from the good Sharks, so it's possible. 1617 01:24:27,560 --> 01:24:31,240 'It's your hard work. We only support you.' 1618 01:24:31,320 --> 01:24:32,760 'We choose from the options.' 1619 01:24:33,200 --> 01:24:36,360 'I just want to congratulate you and tell you I'm very proud.' 1620 01:24:36,440 --> 01:24:37,760 'And thank you.' 1621 01:24:37,840 --> 01:24:39,760 'Anupam and I have profited a lot.' 1622 01:24:39,880 --> 01:24:41,360 [laughing] 1623 01:24:41,960 --> 01:24:43,640 - Hello. - Hello. 1624 01:24:43,720 --> 01:24:44,840 How are you feeling? 1625 01:24:45,160 --> 01:24:47,440 - Himanshu. How are you, Nikita? - I'm good. 1626 01:24:47,520 --> 01:24:49,480 The way you're going ahead, one day 1627 01:24:49,760 --> 01:24:51,520 you'll be Sharks. 1628 01:24:51,600 --> 01:24:52,600 Manifesting. 1629 01:24:52,680 --> 01:24:54,480 - The business has been crazy, right? - Crazy. 1630 01:24:54,640 --> 01:24:57,040 You have grown in the last three years. 1631 01:24:57,120 --> 01:24:58,720 - And 3x every year. - Yes. 1632 01:24:58,800 --> 01:25:01,880 Amazing work. I'm so proud. Great to see you. 1633 01:25:02,200 --> 01:25:03,400 'Ask the Shark.' 1634 01:25:06,200 --> 01:25:07,680 Hello and welcome to 'Ask the Shark.' 1635 01:25:07,880 --> 01:25:10,240 The Shark who is with us today is a very sincere person. 1636 01:25:10,400 --> 01:25:12,960 I think even while lying in bed, he must be reading NCERT books. 1637 01:25:13,080 --> 01:25:14,720 We have with us 1638 01:25:19,480 --> 01:25:22,160 - I'm fine. - I want to ask you today's question. 1639 01:25:22,400 --> 01:25:23,920 The question is from Harsh Bisht. 1640 01:25:24,040 --> 01:25:26,000 He's 26 years old from Nainital, Uttarakhand. 1641 01:25:44,040 --> 01:25:45,080 on my investments. 1642 01:25:45,200 --> 01:25:46,840 Because my old start-up, 1643 01:25:46,960 --> 01:25:49,320 I won't say it did not work, but it did not do very well. 1644 01:25:49,440 --> 01:25:51,000 If you have 1645 01:25:52,000 --> 01:25:54,560 changed between your start-ups very quickly 1646 01:25:55,080 --> 01:25:57,680 and none of them have worked, then I assume 1647 01:25:57,760 --> 01:26:00,240 that people will say, 'What is happening?' 1648 01:26:00,440 --> 01:26:03,200 Are you not as persistent 1649 01:26:03,280 --> 01:26:04,960 or do you give up quickly? 1650 01:26:05,280 --> 01:26:08,720 It can have some impact. But today, at large 1651 01:26:08,960 --> 01:26:12,000 failure is not considered to be bad. 1652 01:26:12,080 --> 01:26:15,080 We have seen on Shark Tank, so many founders come 1653 01:26:15,520 --> 01:26:17,800 who have opened start-ups, some of them 1654 01:26:18,080 --> 01:26:20,000 grew big, some of them did not. 1655 01:26:20,080 --> 01:26:21,840 But we see 1656 01:26:22,680 --> 01:26:24,200 that they gathered a lot of experience. 1657 01:26:58,760 --> 01:26:59,760 - in this. - Oh. 1658 01:26:59,840 --> 01:27:01,480 Thank you so much for the answer. See you in the next 1659 01:27:01,480 --> 01:27:03,560 'Ask the Shark,' with a new question and a new Shark.