1 00:00:29,800 --> 00:00:31,880 [theme music playing] 2 00:00:48,360 --> 00:00:49,360 What is this? 3 00:00:49,480 --> 00:00:50,360 - Paintings? - What is that? 4 00:00:50,440 --> 00:00:51,480 What is this? 5 00:00:51,720 --> 00:00:53,040 It's like a decor. 6 00:00:53,200 --> 00:00:55,360 What is this modern art? 7 00:00:56,360 --> 00:00:58,680 It's weird. There are wires there. 8 00:00:58,760 --> 00:01:00,760 I think I got it! I think it's like... 9 00:01:01,080 --> 00:01:02,400 It's instruments, 10 00:01:02,480 --> 00:01:05,560 breeze or something. So, you have art that is musical. 11 00:01:06,080 --> 00:01:07,600 It is something. 12 00:01:07,800 --> 00:01:10,320 There are wires like a guitar. 13 00:01:10,480 --> 00:01:13,160 - There are strings. - I think it's installations. 14 00:01:14,920 --> 00:01:16,720 [theme music playing] 15 00:01:23,880 --> 00:01:25,560 [theme music playing] 16 00:01:38,440 --> 00:01:39,880 Hey! 17 00:01:40,080 --> 00:01:40,920 Where are you going? 18 00:01:41,000 --> 00:01:42,360 Surprise! 19 00:01:43,400 --> 00:01:44,640 It's a harp. 20 00:01:46,320 --> 00:01:48,360 I told you. 21 00:01:48,440 --> 00:01:50,440 [music playing] 22 00:01:53,080 --> 00:01:55,120 Wow! Amazing! 23 00:01:56,040 --> 00:01:57,040 Wow! 24 00:02:00,280 --> 00:02:02,160 What a magical experience, right? 25 00:02:02,840 --> 00:02:03,880 So what I just did 26 00:02:03,960 --> 00:02:06,000 was that I interacted with a textile 27 00:02:06,160 --> 00:02:08,600 and I created a beautiful sargam with it 28 00:02:08,680 --> 00:02:10,120 through e-textiles. 29 00:02:10,360 --> 00:02:12,400 Will you believe me if I tell you 30 00:02:12,520 --> 00:02:16,040 that this is made by Indian artisans with their hands? 31 00:02:23,960 --> 00:02:24,800 Amazing! 32 00:02:24,880 --> 00:02:26,160 Sharks, one of the reasons 33 00:02:26,240 --> 00:02:29,160 this isn't commonly available 34 00:02:29,320 --> 00:02:31,720 is because it requires specialised machinery 35 00:02:42,440 --> 00:02:45,240 I bring to you my brand, Anuvad. 36 00:02:45,600 --> 00:02:48,720 At Anuvad, through our patented technology, 37 00:02:48,920 --> 00:02:52,280 we collaborate with India's traditional crafts 38 00:02:52,360 --> 00:02:54,840 to create interactive products 39 00:02:54,920 --> 00:02:55,960 that can be used as decor 40 00:03:03,520 --> 00:03:06,080 traditional artisans and craftsmen. 41 00:03:06,360 --> 00:03:08,440 By collaborating with them, 42 00:03:08,520 --> 00:03:10,520 we are humanising technology 43 00:03:10,640 --> 00:03:11,640 through crafts. 44 00:03:17,240 --> 00:03:20,000 And this is called crafting intangibles. 45 00:03:20,120 --> 00:03:21,720 Our innovation lies 46 00:03:21,800 --> 00:03:26,080 in embedding technology within fabric in such a way 47 00:03:26,160 --> 00:03:27,800 that you can't even tell 48 00:03:27,880 --> 00:03:29,480 it's not just a regular piece of cloth, 49 00:03:43,160 --> 00:03:46,880 Today, our ask is Rs. 50 lakhs for 5%. 50 00:03:55,200 --> 00:03:58,200 Chhail, welcome to Shark Tank. 51 00:03:58,280 --> 00:03:59,360 Thank you so much, Ritesh. 52 00:04:15,240 --> 00:04:17,160 Have you worked in this sector in the past? 53 00:04:17,320 --> 00:04:19,120 I mean textiles or something related to that. 54 00:04:19,280 --> 00:04:21,200 I was born and raised in Ahmedabad. 55 00:04:21,400 --> 00:04:24,440 I did my Bachelor of Design from NID Ahmedabad. 56 00:04:29,560 --> 00:04:31,520 we follow a format where, towards the end, 57 00:04:31,840 --> 00:04:35,320 we have to complete a final year project that spans 6 months. 58 00:04:35,400 --> 00:04:37,680 This project can either be done in collaboration with an industry 59 00:04:37,720 --> 00:04:39,160 or be self-sponsored. 60 00:04:39,320 --> 00:04:40,320 But I was very lucky. 61 00:04:40,400 --> 00:04:43,680 - I got an opportunity to do my project in Switzerland. - Wow! 62 00:04:43,760 --> 00:04:47,720 I worked with a university based in Lausanne, Central Switzerland. 63 00:04:47,880 --> 00:04:49,080 When I went there, 64 00:04:49,160 --> 00:04:51,520 I got to know words like design innovation, 65 00:04:51,640 --> 00:04:52,640 design research, 66 00:04:52,720 --> 00:04:54,080 smart textiles. 67 00:04:54,160 --> 00:04:55,720 What is a smart textile? 68 00:04:55,800 --> 00:04:57,000 Any type of textile 69 00:04:57,120 --> 00:05:00,240 that has a functional property, 70 00:05:00,440 --> 00:05:03,440 which provides more functionality than regular textiles, 71 00:05:03,760 --> 00:05:06,320 is considered a part of e-textiles. 72 00:05:14,120 --> 00:05:15,120 Electronics. 73 00:05:26,520 --> 00:05:29,960 We can make it light up, as you can see here. 74 00:05:30,240 --> 00:05:32,040 We can also make it heat up. 75 00:05:32,120 --> 00:05:34,720 The textile is not lighting up. You have installed the lights in it. 76 00:05:34,760 --> 00:05:36,640 Basically, I have added an LED, 77 00:05:36,920 --> 00:05:39,200 which is handwoven into its circuit. 78 00:05:39,280 --> 00:05:41,200 The wiring is handwoven, 79 00:05:41,280 --> 00:05:43,680 - and the LEDs are simply fixed on top. - You are right! 80 00:05:44,440 --> 00:05:46,760 So, my patent is essentially 81 00:05:47,040 --> 00:05:48,440 a woven circuit. 82 00:05:48,520 --> 00:05:50,080 Is the design patent 83 00:05:50,200 --> 00:05:52,200 - or utility patent... - It's a tech patent. 84 00:05:52,320 --> 00:05:55,720 If we need to use a woven circuit in any product, 85 00:05:55,800 --> 00:05:57,240 do we have to go through you? 86 00:05:57,320 --> 00:05:58,640 - Precisely! - Worldwide? 87 00:05:58,760 --> 00:06:00,600 At this point, it's an Indian patent. 88 00:06:16,280 --> 00:06:18,720 I registered it in 2021. 89 00:06:25,120 --> 00:06:26,200 In 2013. 90 00:06:26,280 --> 00:06:27,920 Did you work anywhere else around that time? 91 00:06:27,960 --> 00:06:30,640 I finished my thesis in 2013. 92 00:06:30,840 --> 00:06:32,280 I returned to India. 93 00:06:32,360 --> 00:06:36,560 I was working with a lot of home furnishing companies till 2016. 94 00:06:36,640 --> 00:06:38,200 Were you designing for them? 95 00:06:38,280 --> 00:06:39,360 I was. 96 00:06:39,440 --> 00:06:42,760 In 2016, I made a proposal. 97 00:06:42,840 --> 00:06:45,080 Because I come from a craft-led background. 98 00:06:45,160 --> 00:06:48,400 At NID, we are craft-centric in textiles. 99 00:06:49,640 --> 00:06:52,880 But I want to enter into electronics 100 00:06:52,960 --> 00:06:55,280 and I wanted to go into something more innovative. 101 00:06:55,360 --> 00:06:57,040 That is when I came up with this idea. 102 00:06:57,200 --> 00:06:58,600 It might be possible to incorporate both. 103 00:06:58,640 --> 00:07:01,400 2016 is when I took out my savings 104 00:07:01,640 --> 00:07:03,160 and bought electronics. 105 00:07:03,240 --> 00:07:05,640 I had a friend who was tech expert. 106 00:07:05,720 --> 00:07:07,480 I went to the field with him. 107 00:07:07,640 --> 00:07:09,680 That's how we created our first subject. 108 00:07:16,280 --> 00:07:18,400 - Hmm! - I did my Master's there. 109 00:07:18,480 --> 00:07:20,200 I got a job as a researcher. 110 00:07:20,280 --> 00:07:23,200 - I was working as well. - You did Master's in what? 111 00:07:23,400 --> 00:07:24,400 Textile design. 112 00:07:28,840 --> 00:07:30,240 - Mainly, yes. - Wow! 113 00:07:31,400 --> 00:07:32,400 But, Chhail, 114 00:07:36,840 --> 00:07:38,400 - there has to be functionality. - Yeah. 115 00:07:38,400 --> 00:07:40,840 - Absolutely! - I can see design, fun, music 116 00:07:40,960 --> 00:07:42,160 - and light. - Correct. 117 00:07:42,280 --> 00:07:43,640 But what is the benefit? 118 00:07:43,720 --> 00:07:46,280 There are multiple benefits, Namita. 119 00:07:46,560 --> 00:07:48,640 When I started this in India, 120 00:07:48,720 --> 00:07:51,440 no one knew about e-textiles. 121 00:07:51,720 --> 00:07:54,840 The idea was to start doing something interactive 122 00:07:54,920 --> 00:07:56,760 so that you can break 123 00:07:56,840 --> 00:07:59,680 the ice wall and people start to play with it. 124 00:08:00,200 --> 00:08:02,920 There is medtech. You know there is a lot of monitoring 125 00:08:03,080 --> 00:08:05,320 - that can happen through clothing. - Of course. 126 00:08:05,400 --> 00:08:07,400 If you think about elderly care, 127 00:08:07,480 --> 00:08:09,520 especially Alzheimer's patients, for example, 128 00:08:09,760 --> 00:08:11,040 they often tend to get lost. 129 00:08:11,120 --> 00:08:12,720 But if you have something like this, 130 00:08:12,840 --> 00:08:15,120 which is handwoven and is embedded with GPS, 131 00:08:15,240 --> 00:08:18,840 their caretakers can immediately track their location. 132 00:08:18,920 --> 00:08:21,120 This way, they will never feel like they're being treated as patients. 133 00:08:21,160 --> 00:08:23,000 That's often their biggest concern. 134 00:08:23,080 --> 00:08:24,360 There is also sports tech. 135 00:08:24,480 --> 00:08:26,920 Again, for monitoring stats and data. 136 00:08:27,000 --> 00:08:29,280 I would like to get into heating also. 137 00:08:29,360 --> 00:08:31,440 Because I was based out of Europe. 138 00:08:31,520 --> 00:08:34,680 Over there, the gas prices were going high in cold weather. 139 00:08:34,960 --> 00:08:36,600 So, I looked at heat-tech. 140 00:08:36,680 --> 00:08:38,920 My expertise is in weaving. 141 00:08:39,000 --> 00:08:42,680 For example, I can easily embed heating 142 00:08:42,920 --> 00:08:44,840 in cushions or handwoven rugs 143 00:08:44,920 --> 00:08:47,400 so that it looks like regular cushion or regular rug 144 00:08:47,600 --> 00:08:49,160 that you can use normally in the summer. 145 00:08:50,080 --> 00:08:51,680 If you've made 146 00:08:51,880 --> 00:08:54,760 - a prototype... - Yes, I have. I can show you photos. 147 00:08:54,840 --> 00:08:55,800 Show it to us. 148 00:08:55,880 --> 00:08:57,240 This, for example. 149 00:08:57,720 --> 00:09:00,520 Can you really tell that these are heated circuits? 150 00:09:00,600 --> 00:09:01,880 - This is my patent. - It looks like a design. 151 00:09:01,880 --> 00:09:02,960 This is the beauty of it. 152 00:09:03,120 --> 00:09:05,480 If this cushion is on your sofa, 153 00:09:05,640 --> 00:09:08,360 and during winter if you plug it with a power bank 154 00:09:08,520 --> 00:09:10,520 and use it as heating pillows. 155 00:09:10,600 --> 00:09:12,800 During summer, you can take off the power bank 156 00:09:12,920 --> 00:09:14,320 and use it as a regular cushion. 157 00:09:14,480 --> 00:09:15,520 How much does it cost? 158 00:09:15,720 --> 00:09:17,000 I have not reached there. 159 00:09:18,040 --> 00:09:19,680 Why didn't you bring this product? 160 00:09:19,760 --> 00:09:21,320 Because this was something that 161 00:09:21,400 --> 00:09:23,240 I would talk about should it come up. 162 00:09:23,360 --> 00:09:25,160 I didn't really plan for this, very honestly. 163 00:09:25,240 --> 00:09:26,360 I thought 164 00:09:26,480 --> 00:09:27,760 this is what I've been doing 165 00:09:27,840 --> 00:09:29,520 and this is what is picking up in the market. 166 00:09:29,560 --> 00:09:31,400 You thought you will get funding with this, so why show that? 167 00:09:31,440 --> 00:09:33,280 No, that is not true. 168 00:09:34,240 --> 00:09:39,320 I want to ask, there are thermal clothes that are heat-tech. 169 00:09:39,400 --> 00:09:42,320 - Yes. - Other companies are making them globally. 170 00:09:42,400 --> 00:09:44,520 There are companies doing this in wearables. 171 00:09:44,600 --> 00:09:46,120 Out of all the applications of e-textiles 172 00:09:46,160 --> 00:09:48,200 - that you've mentioned. - Yes. 173 00:09:48,280 --> 00:09:51,280 - There is one where commercialized products are scaling up. - Yes. 174 00:09:51,760 --> 00:09:54,120 No! Google and Levi's recently 175 00:09:54,200 --> 00:09:56,320 collaborated to make a trucker jacket. 176 00:09:56,400 --> 00:09:58,120 - Right. - It was for bikers. 177 00:09:58,200 --> 00:10:01,400 They embedded the entire technology into the cuff. 178 00:10:01,520 --> 00:10:05,040 You can swipe the cuff to pick up a call. 179 00:10:05,120 --> 00:10:08,040 What are some other use cases where it has been commercialised globally? 180 00:10:08,120 --> 00:10:09,960 It's not so commercialised yet. 181 00:10:10,720 --> 00:10:12,800 Who has been funding you for 8 years? 182 00:10:12,880 --> 00:10:13,880 Ikea Foundation. 183 00:10:14,080 --> 00:10:16,000 - Ikea Foundation. - You've got a grant, haven't you? 184 00:10:16,000 --> 00:10:17,280 - I've got 3 grants. - 3 grants. 185 00:10:17,400 --> 00:10:19,000 You tell us the history. 186 00:10:19,680 --> 00:10:22,000 My first grant was in 2018 187 00:10:22,080 --> 00:10:23,680 for CHF 10,000. 188 00:10:23,760 --> 00:10:26,360 The second grant was in 2019 189 00:10:26,560 --> 00:10:28,360 for CHF 15,000. 190 00:10:28,440 --> 00:10:32,200 And then recently, I got CHF 20,000 on 22nd December. 191 00:10:41,240 --> 00:10:42,400 How are you managing? 192 00:10:42,520 --> 00:10:45,600 There is a big opportunity cost with all your qualifications. 193 00:10:46,640 --> 00:10:48,480 Basically, I have been selling these. 194 00:10:48,560 --> 00:10:51,760 And these have been doing decently well. - Really? 195 00:10:51,840 --> 00:10:52,840 Compared to... 196 00:10:52,960 --> 00:10:54,960 I mean, obviously, I am sure the metrics 197 00:10:55,040 --> 00:10:56,560 - of other founders that you see on the show. - I am surprised. 198 00:10:56,560 --> 00:10:57,640 I am surprised, that's it. 199 00:10:57,960 --> 00:11:00,280 Yeah! It's actually picking up really well. 200 00:11:00,360 --> 00:11:01,480 How much revenue are you making? 201 00:11:01,480 --> 00:11:03,120 Last year, when we started, 202 00:11:03,240 --> 00:11:07,520 our first invoice was around July 2023. 203 00:11:07,800 --> 00:11:10,880 That year, we closed at Rs. 9.90 lakhs. 204 00:11:12,000 --> 00:11:13,160 What did we sell? 205 00:11:13,240 --> 00:11:16,320 I did a massive installation, which I can also show you 206 00:11:16,400 --> 00:11:17,680 for Godrej. 207 00:11:17,760 --> 00:11:19,840 [music playing] 208 00:11:20,800 --> 00:11:21,960 Oh, that's beautiful. 209 00:11:22,040 --> 00:11:24,360 - Yeah! This is what I did. - Is this at Godrej office? 210 00:11:24,480 --> 00:11:28,200 Godrej has a show called the Conscious Collective. 211 00:11:28,280 --> 00:11:30,320 - How much were you paid? - Rs. 7 lakhs. 212 00:11:30,400 --> 00:11:32,200 - Most of your revenue came from that. - Yeah. 213 00:11:32,240 --> 00:11:33,920 Did you get a good response 214 00:11:34,000 --> 00:11:36,360 - compared to others? - Yes! This is what got us into business. 215 00:11:36,400 --> 00:11:39,560 That's why we have commercialised it for home use. 216 00:11:39,640 --> 00:11:41,520 What were your numbers in FY24-25? 217 00:11:41,600 --> 00:11:43,320 As of today, we are doing 22. 218 00:11:43,400 --> 00:11:44,520 - Rs. 22 lakhs? - Yes. 219 00:11:46,640 --> 00:11:49,000 I think it should close at Rs. 35 lakhs easily. 220 00:11:51,440 --> 00:11:52,800 Rs. 3 lakhs. I am doing it again this year 221 00:11:52,840 --> 00:11:54,000 for the Conscious Collective. 222 00:11:54,040 --> 00:11:56,160 - The rest came from the products you sold. - Yes. 223 00:11:56,240 --> 00:11:57,680 Did you sell it on your website? 224 00:11:57,760 --> 00:12:00,120 Surprisingly, I get direct inquiries. 225 00:12:00,240 --> 00:12:01,520 Through such exhibitions. 226 00:12:01,640 --> 00:12:03,600 Instagram is also one big channel. 227 00:12:03,680 --> 00:12:07,080 It is not sold on the website. People send a text or call you. 228 00:12:07,200 --> 00:12:08,920 - Yes. - What is the approximate pricing? 229 00:12:09,000 --> 00:12:10,640 That frame you see over there 230 00:12:10,840 --> 00:12:12,920 is for Rs. 1.10 lakhs plus GST. 231 00:12:13,400 --> 00:12:14,600 - Okay! And? - Expensive. 232 00:12:14,680 --> 00:12:17,000 And this globe here 233 00:12:17,080 --> 00:12:19,480 is for Rs. 52,500. 234 00:12:20,480 --> 00:12:22,080 The small product is the table. 235 00:12:22,200 --> 00:12:23,520 We recently launched it. 236 00:12:23,600 --> 00:12:25,760 So, we are still seeing. We launched that for gifting. 237 00:12:25,840 --> 00:12:27,680 - What is the approximate amount? - Rs. 12,000. 238 00:12:28,200 --> 00:12:31,000 - You mentioned cushion covers. - Yes. 239 00:12:31,080 --> 00:12:32,840 You said you haven't decided on the pricing. 240 00:12:32,920 --> 00:12:34,960 - Yes. - But what will it approximately cost? 241 00:12:35,040 --> 00:12:37,040 I would sell it for around Rs. 10,000. 242 00:12:37,880 --> 00:12:39,960 Which is your highest-selling product? 243 00:12:40,040 --> 00:12:41,040 The bird globes. 244 00:12:41,120 --> 00:12:42,920 - The one that costs Rs. 52,000. - The one with the birds. 245 00:12:42,920 --> 00:12:44,800 Do you have a competition in this space? 246 00:12:44,960 --> 00:12:46,480 No. Very humbly saying, no. 247 00:12:47,480 --> 00:12:49,960 Do you think this has a demand? 248 00:12:50,680 --> 00:12:53,520 I think I can create it. It's category creation. 249 00:12:53,600 --> 00:12:54,760 This is not easy. 250 00:12:54,840 --> 00:12:59,480 The 10 products you sold could be bought by someone just for novelty. 251 00:12:59,640 --> 00:13:02,040 - Correct. I understand. - Who needs this? 252 00:13:02,160 --> 00:13:03,720 Without any marketing, 253 00:13:03,800 --> 00:13:06,360 I feel I have come from point A to point B. 254 00:13:06,440 --> 00:13:09,680 Nobody knew what kind of globe they could buy. 255 00:13:09,760 --> 00:13:11,680 If you had sold such beautiful art 256 00:13:11,760 --> 00:13:14,440 without all this, you would still have earned half the revenue. 257 00:13:14,560 --> 00:13:15,560 I really think 258 00:13:15,640 --> 00:13:18,120 that this will be the new face 259 00:13:18,200 --> 00:13:20,000 of textiles as you know it. 260 00:13:20,080 --> 00:13:22,800 So, are you proud of the business you've done? 261 00:13:22,920 --> 00:13:24,320 I think I am okay with it. 262 00:13:24,560 --> 00:13:26,880 Are you working on products 263 00:13:26,960 --> 00:13:29,400 or do you have plans in the future to make something high-tech? 264 00:13:29,440 --> 00:13:31,920 - As you mentioned about Levi's and Google. - Levi's and Google. 265 00:13:31,960 --> 00:13:34,480 Are you working on a similar product? 266 00:13:34,880 --> 00:13:36,560 I'll be very frank with you. 267 00:13:36,720 --> 00:13:38,240 We are a small team now. 268 00:13:38,400 --> 00:13:42,320 I started on my own as a one-woman show. 269 00:13:42,960 --> 00:13:45,120 It's only six months ago that I can say 270 00:13:45,240 --> 00:13:47,840 that I have a small team of around 3 people. 271 00:13:48,520 --> 00:13:52,200 - I must say that you have a high commitment level. - Thank you. 272 00:13:52,560 --> 00:13:53,920 - I really appreciate that. - It's the only thing 273 00:13:53,920 --> 00:13:54,920 that keeps me going. 274 00:13:55,400 --> 00:13:56,400 I can see that. 275 00:13:56,760 --> 00:13:59,560 - And you do it with a smile. Which is the best part. - Thanks. 276 00:13:59,840 --> 00:14:01,440 But what is your dream? 277 00:14:01,440 --> 00:14:04,560 If we fast forward 10 years, what does success look like? 278 00:14:04,840 --> 00:14:07,720 I'd like to say this with a little bit of audacity if you don't mind. 279 00:14:07,800 --> 00:14:10,360 - Please be audacious. - We all encourage audacity. 280 00:14:10,440 --> 00:14:11,760 - Take your time. - Go for it. 281 00:14:11,840 --> 00:14:13,520 When we talk about smartwatches, 282 00:14:13,680 --> 00:14:15,640 Apple comes to mind. 283 00:14:15,800 --> 00:14:17,560 Someday when e-textile is mentioned, 284 00:14:17,600 --> 00:14:19,360 I would like Anuvad to be the first word 285 00:14:19,360 --> 00:14:21,320 - that comes to your mind. - Fantastic. Very good! 286 00:14:21,880 --> 00:14:25,800 You showed me a beautiful vision, right? 287 00:14:25,960 --> 00:14:30,320 - But this distance between your vision and sales... - Yes. 288 00:14:30,360 --> 00:14:32,720 Sometimes, it is quite distant. 289 00:14:32,840 --> 00:14:35,000 - Sure. - You've already spent 8 years on this. 290 00:14:35,040 --> 00:14:37,400 - Yeah! - One way to look at it is persistence. 291 00:14:37,720 --> 00:14:40,520 The other way to look at it is, show me the money. 292 00:14:40,800 --> 00:14:43,880 Right? Rs. 22 lakhs is as good as pre-revenue. 293 00:14:44,680 --> 00:14:47,720 I hope and I really wish you make it happen. 294 00:14:47,800 --> 00:14:50,680 - But as an investor, it's too early for me. - Fair enough. 295 00:14:50,920 --> 00:14:52,280 And for that reason, I am out. 296 00:14:54,280 --> 00:14:56,600 - I saw a fashion show, Chhail. - Yes. 297 00:14:56,880 --> 00:14:58,880 They made a model wear a dress. 298 00:14:59,440 --> 00:15:00,880 And it changed colours. 299 00:15:00,960 --> 00:15:02,080 Must be CuteCircuit. 300 00:15:02,160 --> 00:15:03,560 I don't know what it was made of. 301 00:15:03,640 --> 00:15:06,680 It felt like she was wearing a regular dress. 302 00:15:06,880 --> 00:15:08,920 - And it truly blew me away. - Yeah. 303 00:15:09,040 --> 00:15:12,880 I immediately understood its use case. 304 00:15:13,160 --> 00:15:15,320 I have a daughter and I am married. 305 00:15:15,440 --> 00:15:17,280 I have a couple of sisters. 306 00:15:17,360 --> 00:15:18,760 They would love something like that. 307 00:15:18,760 --> 00:15:20,400 - Yeah! - They left wearing something 308 00:15:20,480 --> 00:15:22,280 and they returned like they were wearing something else 309 00:15:22,280 --> 00:15:23,600 without having to change. 310 00:15:23,800 --> 00:15:25,240 It's a dream for women. 311 00:15:25,720 --> 00:15:29,280 I am confused here because your tagline 312 00:15:29,560 --> 00:15:31,320 is 'Humanising Technology'. 313 00:15:31,440 --> 00:15:33,640 Until now, based on everything I've gathered, 314 00:15:33,800 --> 00:15:36,000 it seems like a college project, 315 00:15:36,200 --> 00:15:37,720 craft-centre, 316 00:15:37,880 --> 00:15:40,160 research-oriented textiles, 317 00:15:40,240 --> 00:15:42,600 still searching for a use case. 318 00:15:43,640 --> 00:15:46,000 According to me, there could be only two ways. 319 00:15:46,520 --> 00:15:48,560 You either own technology 320 00:15:48,680 --> 00:15:50,680 and you patent it. 321 00:15:51,520 --> 00:15:52,800 The other way 322 00:15:52,880 --> 00:15:55,640 is that you come up with an amazing use case. 323 00:15:55,920 --> 00:15:58,400 If you... I've witnessed it. My dad was ill. 324 00:15:58,520 --> 00:16:00,280 I was trying to make him wear a watch. 325 00:16:00,360 --> 00:16:04,400 It would detect if he falls. But he refused to wear it. 326 00:16:05,040 --> 00:16:06,840 But that won't be the case with clothes. 327 00:16:07,080 --> 00:16:09,040 And I think that's an interesting use case. 328 00:16:09,040 --> 00:16:10,360 I don't see that today. 329 00:16:10,440 --> 00:16:11,840 So, I am out. 330 00:16:12,600 --> 00:16:15,800 But I want to call you for an installation for sure. 331 00:16:16,120 --> 00:16:18,040 - If you will do it. - Absolutely! It will be my pleasure. 332 00:16:18,080 --> 00:16:18,880 Okay, thank you! 333 00:16:19,040 --> 00:16:21,840 Honestly put, where... 334 00:16:22,080 --> 00:16:24,520 Take the globe or the frame, 335 00:16:24,760 --> 00:16:28,120 where the wire could have come out, 336 00:16:28,160 --> 00:16:30,040 you have embedded it in the thread. 337 00:16:30,680 --> 00:16:32,240 This is a simple way. 338 00:16:32,360 --> 00:16:35,680 But there is no need to embed it in the thread. 339 00:16:35,760 --> 00:16:38,720 Because no one has to wear this. 340 00:16:38,800 --> 00:16:40,800 Unless it is for novelty or a gimmick. 341 00:16:41,120 --> 00:16:43,840 As Anupam mentioned. My children have these T-shirts. 342 00:16:43,960 --> 00:16:45,120 When there are beats, 343 00:16:45,200 --> 00:16:46,840 the lights move up and down. 344 00:16:46,920 --> 00:16:49,120 It's great for children as a gimmick. 345 00:16:49,840 --> 00:16:52,760 But no one is looking at it 346 00:16:52,840 --> 00:16:54,720 as a replacement for textiles 347 00:16:54,960 --> 00:16:56,680 or wearables. 348 00:16:57,320 --> 00:16:59,840 It is crucial for a founder 349 00:16:59,920 --> 00:17:02,840 to understand what the problem is. 350 00:17:02,920 --> 00:17:06,360 The earlier you focus on the problem, before creating a product, 351 00:17:06,440 --> 00:17:10,680 the fewer years you waste 352 00:17:10,840 --> 00:17:13,560 building something that nobody wants. 353 00:17:13,920 --> 00:17:16,520 So, for those reasons, I am out. But best of luck. 354 00:17:17,640 --> 00:17:20,480 - Thank you! - I am unfortunately out of this today. 355 00:17:21,280 --> 00:17:23,600 Because the direction that your business is headed in 356 00:17:23,680 --> 00:17:26,240 is different from your vision. 357 00:17:26,320 --> 00:17:29,280 Your vision is to make this a tech-first business. 358 00:17:29,560 --> 00:17:31,160 Which is a very exciting business. 359 00:17:31,360 --> 00:17:32,680 What you are doing today... 360 00:17:33,120 --> 00:17:36,440 And I understand that it is due to economic considerations. 361 00:17:36,520 --> 00:17:37,680 You will start a business 362 00:17:37,760 --> 00:17:41,200 based on your current budget and then work on your vision. 363 00:17:41,400 --> 00:17:44,080 But I don't see that today. For that reason, I am out. 364 00:17:44,480 --> 00:17:47,960 - Okay! - But my friend is a board member of Levi's. 365 00:17:48,040 --> 00:17:49,600 If you want to speak with him... 366 00:17:49,680 --> 00:17:51,880 I can't commit that Levi's will help. 367 00:17:52,080 --> 00:17:55,000 I can connect with the top executives at Levi's. 368 00:17:55,240 --> 00:17:57,960 - I appreciate that. - You might get a chance to collaborate. 369 00:17:58,120 --> 00:17:59,520 - I would be happy to help. - I would really appreciate that. 370 00:17:59,520 --> 00:18:00,880 - All the best to you. - Thank you. 371 00:18:01,520 --> 00:18:03,440 When you shared your story, 372 00:18:03,440 --> 00:18:07,240 it reminded me of our journey 373 00:18:07,640 --> 00:18:08,640 when we had just started. 374 00:18:09,200 --> 00:18:10,480 For the first 1.5 years 375 00:18:10,840 --> 00:18:12,920 of our company, we were making a coupon book. 376 00:18:13,000 --> 00:18:14,320 A physical coupon book, 377 00:18:14,400 --> 00:18:16,560 which you had to tear to get a discount. 378 00:18:16,600 --> 00:18:17,640 It was called Money Saver. 379 00:18:17,760 --> 00:18:19,520 We used to attend meetings every day 380 00:18:19,600 --> 00:18:21,640 at restaurants, spas and salons 381 00:18:21,720 --> 00:18:24,320 - to give us an offer to put it in our coupon book. - Yes. 382 00:18:24,760 --> 00:18:27,200 It was 45 degrees in Delhi. 383 00:18:27,280 --> 00:18:29,520 We used to go around Connaught Place. 384 00:18:29,600 --> 00:18:30,680 We used to perspire. 385 00:18:30,760 --> 00:18:33,920 We were 110% convinced 386 00:18:34,000 --> 00:18:36,960 that this product has such strong value. 387 00:18:37,080 --> 00:18:38,720 If you pay Rs. 500, 388 00:18:38,840 --> 00:18:42,640 you will get a value savings of Rs. 50,000. 389 00:18:42,880 --> 00:18:44,120 Why wouldn't anyone buy it? 390 00:18:44,440 --> 00:18:45,920 Unfortunately, 391 00:18:46,000 --> 00:18:48,520 we sold 50,000 copies 392 00:18:48,680 --> 00:18:50,160 that too for Rs. 50. 393 00:18:50,320 --> 00:18:52,520 After that, we had to change the business plan. 394 00:18:52,680 --> 00:18:55,800 If there was one thing I could change about that journey, 395 00:18:56,120 --> 00:18:57,240 this is what I would change. 396 00:18:57,320 --> 00:19:00,360 From day one, I would've started 397 00:19:00,480 --> 00:19:02,280 talking to the end customer. 398 00:19:02,400 --> 00:19:04,240 'Will you be interested in buying this?' 399 00:19:04,520 --> 00:19:06,600 Sometimes, this happens with founders. 400 00:19:07,400 --> 00:19:10,440 We convince ourselves because we've put in so much effort. 401 00:19:10,560 --> 00:19:13,560 We have put our everything into it. 402 00:19:13,840 --> 00:19:15,280 You are talented. 403 00:19:15,400 --> 00:19:18,800 You should involve a business-oriented person. 404 00:19:18,880 --> 00:19:21,520 If you identify one power use case, 405 00:19:21,640 --> 00:19:25,040 then this company will turn into a business 406 00:19:25,160 --> 00:19:26,560 instead of technology or a product. 407 00:19:26,720 --> 00:19:28,600 Today, I am out. But I wish you all the best. 408 00:19:29,960 --> 00:19:30,960 And think about it. 409 00:19:31,000 --> 00:19:33,560 Sometimes, even the bitter rejections 410 00:19:33,840 --> 00:19:36,000 are the ones we need. 411 00:19:45,560 --> 00:19:48,400 It hurts when you receive criticism. 412 00:19:48,560 --> 00:19:51,320 But I think there is an opportunity for growth in this. 413 00:19:55,520 --> 00:19:57,280 [music playing] 414 00:20:03,880 --> 00:20:05,640 Welcome to ACKO Change Makers, 415 00:20:05,760 --> 00:20:07,360 where we really welcome change. 416 00:20:07,480 --> 00:20:10,760 It was portrayed beautifully here, 417 00:20:10,920 --> 00:20:13,000 right behind me on this change makers wall. 418 00:20:19,560 --> 00:20:22,520 Our today's change makers are Team Anuvad. 419 00:20:22,600 --> 00:20:24,880 - Welcome! - Thank you! Thank you so much. 420 00:20:24,960 --> 00:20:27,320 You are bringing so much modern tech 421 00:20:27,400 --> 00:20:30,040 - into your traditional artwork and design. - Yeah! 422 00:20:30,240 --> 00:20:32,880 Which is a great change. And I think it's on the right path. 423 00:20:33,000 --> 00:20:34,960 We are so used to traditional art forms. 424 00:20:35,080 --> 00:20:37,080 - Yeah! - And artwork. Especially home decor. 425 00:20:37,160 --> 00:20:39,160 If we want to bring a change 426 00:20:39,280 --> 00:20:42,480 to accept new forms of art like e-textiles. What can we do? 427 00:20:42,560 --> 00:20:44,920 If we talk about our work, 428 00:20:45,040 --> 00:20:46,880 - then craft is essentially a skill. - Right! 429 00:20:47,000 --> 00:20:49,520 It is a way of work and art. 430 00:20:49,600 --> 00:20:52,840 How do we advance this art form? 431 00:20:52,920 --> 00:20:56,480 Our TVs, watches and phones have become smart. 432 00:20:56,560 --> 00:20:58,680 Our art can also be smart, right? 433 00:20:58,800 --> 00:21:00,000 - Nicely said. Amazing! - Yes. 434 00:21:00,160 --> 00:21:02,480 You are completely revolutionizing 435 00:21:02,720 --> 00:21:05,720 - the art industry and I love it. Congratulations. - Thank you. 436 00:21:05,800 --> 00:21:07,880 Anyway, there is a lot of revolution 437 00:21:07,960 --> 00:21:09,640 in our insurance industry too. 438 00:21:09,680 --> 00:21:11,920 Take ACKO, for example. It has changed the landscape of insurance 439 00:21:11,960 --> 00:21:13,880 with its offering. 440 00:21:13,880 --> 00:21:15,920 Don't deal with unknown agents. 441 00:21:16,080 --> 00:21:17,960 Know your insurer. 442 00:21:18,120 --> 00:21:19,560 Trust ACKO, 443 00:21:19,640 --> 00:21:21,760 it is a trusted choice of millions of Indians. 444 00:21:21,840 --> 00:21:24,400 It has settled more than 3 lakh car claims. 445 00:21:24,480 --> 00:21:25,960 So, this is what's happening in insurance. 446 00:21:25,960 --> 00:21:29,120 But for you, to celebrate your time in the tank, 447 00:21:29,400 --> 00:21:31,360 there is a memento for you 448 00:21:31,440 --> 00:21:32,840 - from ACKO and Shark Tank. - Okay. 449 00:21:33,120 --> 00:21:36,800 It's a very nice picture of you. So, please get it hung on your wall. 450 00:21:36,880 --> 00:21:37,880 Thank you! 451 00:21:39,800 --> 00:21:42,960 [theme music playing] 452 00:22:00,880 --> 00:22:03,440 My name is Mehakdeep, aka Mak. 453 00:22:06,520 --> 00:22:09,160 We are from Chandigarh to stir things up in the Tank. 454 00:22:09,240 --> 00:22:12,080 - Wow! - Bansal is with me and not you. 455 00:22:12,160 --> 00:22:13,280 - Nice! - Right, Sahil? 456 00:22:13,480 --> 00:22:15,960 - Welcome, Bansal. - The first time, 457 00:22:16,080 --> 00:22:17,240 with an ARR of Rs. 4 crores, 458 00:22:17,440 --> 00:22:20,040 we were rejected and sent out. 459 00:22:20,200 --> 00:22:23,200 The second time, at Rs. 8 crore ARR, 460 00:22:23,480 --> 00:22:26,040 we were rejected again. 461 00:22:26,240 --> 00:22:28,160 They say the third time's the charm. 462 00:22:28,240 --> 00:22:29,920 Now we've hit Rs. 100 crore ARR! 463 00:22:30,280 --> 00:22:31,640 We made it happen. 464 00:22:31,720 --> 00:22:35,400 Now we are before the Sharks. Who knows what the outcome will be? 465 00:22:35,560 --> 00:22:37,520 What do you say, Bansal? Shall we start the pitch? 466 00:22:38,680 --> 00:22:39,560 Greetings, Sharks. 467 00:22:39,680 --> 00:22:42,000 Your name is Bansal, so take the money from me. 468 00:22:42,280 --> 00:22:44,400 His handle is anotherbansal. 469 00:22:44,480 --> 00:22:46,800 Welcome, Another Bansal. 470 00:22:46,960 --> 00:22:49,800 There was a time when Mak and I were overweight. 471 00:22:49,960 --> 00:22:52,240 And we were really struggling to lose weight. 472 00:22:52,360 --> 00:22:54,280 People told us to exercise, 473 00:22:54,480 --> 00:22:57,920 take supplements and be on a diet and we will lose weight. 474 00:22:58,160 --> 00:22:59,960 If it were that easy, 475 00:23:00,160 --> 00:23:03,360 then nearly 34 crore people in India 476 00:23:03,440 --> 00:23:04,800 wouldn't be struggling with weight 477 00:23:04,920 --> 00:23:07,040 and lifestyle-related disorders related to weight. 478 00:23:16,640 --> 00:23:18,600 And we need someone 479 00:23:18,680 --> 00:23:20,920 who can support us throughout our journey 480 00:23:21,120 --> 00:23:23,160 and guide us properly. 481 00:23:23,480 --> 00:23:25,000 That's why we started Fitelo. 482 00:23:25,360 --> 00:23:26,880 A weight loss platform 483 00:23:26,960 --> 00:23:27,960 helps you achieve 484 00:23:28,000 --> 00:23:29,920 a fit and healthy lifestyle 485 00:23:42,360 --> 00:23:44,400 doctors and mind coaches. 486 00:23:47,560 --> 00:23:50,160 the lives of 2 lakh people. 487 00:23:50,720 --> 00:23:52,600 Our vision is simple, Sharks. 488 00:23:52,680 --> 00:23:55,360 We aim to make India free from obesity. 489 00:23:55,440 --> 00:23:57,320 Once India becomes obesity-free, 490 00:23:57,400 --> 00:24:00,800 our country will experience progress, and our economy will grow. 491 00:24:01,080 --> 00:24:02,720 In order to achieve this, 492 00:24:02,800 --> 00:24:07,200 - our ask is Rs. 1.5 crores for 0.5% equity. - Whoa! 493 00:24:15,840 --> 00:24:18,480 Mak and Bansal, 494 00:24:18,680 --> 00:24:20,560 your valuation is obese. 495 00:24:21,800 --> 00:24:23,400 It needs weight loss too. 496 00:24:23,480 --> 00:24:24,720 Do it, please. 497 00:24:25,640 --> 00:24:28,800 - Welcome! Where did you both meet? - Thank you, ma'am. 498 00:24:29,080 --> 00:24:31,520 Also, both of you said 499 00:24:31,600 --> 00:24:33,840 that you have lost weight. Tell us about that. 500 00:24:33,920 --> 00:24:35,120 How much did you weigh 501 00:24:35,280 --> 00:24:37,880 and what did you do to lose that weight? 502 00:24:38,320 --> 00:24:42,080 Mak and I met at the gym for the first time. 503 00:24:42,440 --> 00:24:44,960 We were around 16 years old. 504 00:24:45,040 --> 00:24:48,200 But we weighed more than 100 kg. 505 00:24:48,520 --> 00:24:50,880 For the next five years, we tried a lot of things. 506 00:24:50,960 --> 00:24:53,600 They used to show machines on TV, 507 00:24:53,720 --> 00:24:54,800 you have to exercise for 3 minutes. 508 00:24:54,840 --> 00:24:56,480 There were diet plans. 509 00:24:56,720 --> 00:24:58,960 A coach gave us medicines, 510 00:24:59,080 --> 00:24:59,960 we tried that too. 511 00:25:00,040 --> 00:25:01,640 - We were desperate to lose weight. - Okay. 512 00:25:01,680 --> 00:25:02,880 There were days we lost weight 513 00:25:03,040 --> 00:25:04,240 and gained it back. 514 00:25:04,400 --> 00:25:07,360 From 2008 to 2019, we must've met a couple of times. 515 00:25:07,440 --> 00:25:10,720 But we met again at an event in Chandigarh in 2019. 516 00:25:10,960 --> 00:25:12,600 Back then, when I saw Mak, 517 00:25:12,840 --> 00:25:15,280 - he seemed to have lost a lot of weight. - You were the same. 518 00:25:15,360 --> 00:25:16,960 - I did lose a few kilos. - Okay. 519 00:25:17,080 --> 00:25:20,840 I have a background in psychology, so I understood that. 520 00:25:20,920 --> 00:25:22,600 I understood where I went wrong, 521 00:25:22,760 --> 00:25:24,840 because of which I was gaining weight. 522 00:25:24,920 --> 00:25:26,040 But I wasn't completely fit. 523 00:25:26,120 --> 00:25:29,920 I asked Mak, how he lost weight and if there was a new medicine. 524 00:25:30,800 --> 00:25:32,400 - New medicine. - After MBA, Mak... 525 00:25:32,480 --> 00:25:34,520 - Master's. - He did his Master's in Nutrition. 526 00:25:34,800 --> 00:25:38,080 - In 2016, he became a dietician. - Oh! 527 00:25:38,560 --> 00:25:41,560 - Mak lost around 60 kilos. - Oh my! 528 00:25:41,640 --> 00:25:43,040 Do you have before and after photos? 529 00:25:43,160 --> 00:25:44,160 - Yes. - We do. 530 00:25:44,440 --> 00:25:47,760 - It is quite old. This was how we were. - Oh, wow! 531 00:25:49,080 --> 00:25:50,920 - Is that you to the left? - Yes. 532 00:25:51,200 --> 00:25:52,640 Unbelievable! 533 00:25:55,800 --> 00:25:57,200 This photo was taken in which year? 534 00:25:57,280 --> 00:25:58,880 - This was around 10 years ago. - Amazing! 535 00:25:58,880 --> 00:26:00,880 - Wow! Before and after. - Handsome! 536 00:26:01,000 --> 00:26:02,400 This photo is for Shaadi.com. 537 00:26:02,520 --> 00:26:03,880 - Yes. - I agree. 538 00:26:04,800 --> 00:26:06,880 So, how did you lose the weight, Mak? 539 00:26:06,960 --> 00:26:10,240 That old-school diet and exercise. 540 00:26:10,560 --> 00:26:11,960 I focused on that. 541 00:26:12,120 --> 00:26:14,880 When we lost weight for the first time, 542 00:26:14,960 --> 00:26:16,240 we just went to the gym. 543 00:26:16,320 --> 00:26:17,960 The second time, we were only on a diet. 544 00:26:18,240 --> 00:26:19,720 That didn't work either. 545 00:26:19,920 --> 00:26:23,200 Then we realised that it's the right combination 546 00:26:23,280 --> 00:26:25,240 of physical activity, 547 00:26:25,400 --> 00:26:27,640 diet and your habits. 548 00:26:27,720 --> 00:26:30,600 This helps you lose weight 549 00:26:30,880 --> 00:26:33,040 and that will be a sustainable weight loss. 550 00:26:33,120 --> 00:26:36,040 You might be aware that there are many companies in this segment. 551 00:26:36,120 --> 00:26:38,680 Can you explain your proposition in simple language? 552 00:26:38,760 --> 00:26:40,160 What does it offer for your customers? 553 00:26:40,200 --> 00:26:42,200 Which year did Fitelo start? 554 00:26:42,440 --> 00:26:43,680 - 2000... - 2019. 555 00:26:43,840 --> 00:26:45,920 We assign a personal dietitian 556 00:26:46,080 --> 00:26:49,200 who makes a weekly customised diet plan. 557 00:27:15,120 --> 00:27:17,680 - 800 full-time employees? - Yes. 558 00:27:17,960 --> 00:27:20,680 - Wow! - Our total strength is 1,100. 559 00:27:20,760 --> 00:27:22,880 How much does your subscription cost? 560 00:27:23,040 --> 00:27:25,360 Our 3-month weight management program 561 00:27:36,880 --> 00:27:38,960 We have a benchmark 562 00:27:39,040 --> 00:27:42,240 based on the initial counselling. That is when we identify 563 00:27:42,320 --> 00:27:43,880 that this goal is achievable. 564 00:27:44,560 --> 00:27:46,720 Sharks, we can do a demo. 565 00:27:46,880 --> 00:27:48,160 While you give us the demo, 566 00:27:48,360 --> 00:27:50,840 simultaneously tell us... Maybe you can start with that. 567 00:27:50,960 --> 00:27:53,920 What is your differentiation from HealthifyMe. 568 00:27:54,360 --> 00:27:57,360 - Vishal Gondal has a company. I can't recall the name. - GOQii. 569 00:27:57,520 --> 00:27:58,800 GOQii! 570 00:27:59,320 --> 00:28:00,840 As far as I understand, 571 00:28:00,960 --> 00:28:03,160 - their model is exactly the same. - Okay. 572 00:28:03,600 --> 00:28:05,200 Explain that while you give the demo. 573 00:28:05,320 --> 00:28:08,400 Sharks, our interface is simple. 574 00:28:08,520 --> 00:28:09,880 I'll take you to Diet first. 575 00:28:10,000 --> 00:28:11,880 Because that is 70%. 576 00:28:13,200 --> 00:28:15,200 This is my today's diet. 577 00:28:15,280 --> 00:28:17,120 So, I informed my coach 578 00:28:17,200 --> 00:28:19,560 that I enjoyed eating burgers. 579 00:28:19,680 --> 00:28:21,360 For the first time... 580 00:28:21,440 --> 00:28:23,160 This is our secret sauce. 581 00:28:23,360 --> 00:28:26,480 We have quantified recipes available. 582 00:28:26,600 --> 00:28:29,000 We have 1,000 recipes like this. 583 00:28:29,120 --> 00:28:33,040 If someone says they can't cook because they don't have time, 584 00:28:50,920 --> 00:28:53,560 I can choose my dance class. 585 00:28:53,720 --> 00:28:55,800 These are small group sessions, 586 00:28:55,880 --> 00:28:58,200 so that you feel like you are in a studio 587 00:28:58,280 --> 00:29:00,160 - while you attend your session. - It motivates you. 588 00:29:00,160 --> 00:29:03,680 Is the live interaction happening on your platform or on Zoom? 589 00:29:03,880 --> 00:29:05,600 - No, it's on our platform. - Your platform. 590 00:29:10,400 --> 00:29:13,640 My coach identified that I tend to binge eat. 591 00:29:13,840 --> 00:29:16,240 So, they will assign me daily activities 592 00:29:16,320 --> 00:29:19,000 to do or to listen to. 593 00:29:19,280 --> 00:29:20,840 How do we track this? 594 00:29:20,920 --> 00:29:22,080 In Weight Tracker, 595 00:29:22,160 --> 00:29:24,640 we have Fitelo's weighing scale. 596 00:29:24,760 --> 00:29:26,800 Because data is important for us. 597 00:29:26,880 --> 00:29:30,360 - Okay! - We track 12 parameters. 598 00:29:30,480 --> 00:29:32,920 It includes BMI, body fat, 599 00:29:33,040 --> 00:29:35,240 metabolic age and muscle mass. 600 00:29:39,440 --> 00:29:41,240 - Rs. 1,200. - Quite affordable. 601 00:29:41,480 --> 00:29:43,760 Our scale is available on Amazon. 602 00:29:47,400 --> 00:29:49,480 It's a 24/7 support. 603 00:29:49,760 --> 00:29:52,680 If I need dietician's help, 604 00:29:52,760 --> 00:29:55,520 and I don't know what to eat... 605 00:29:56,120 --> 00:30:00,080 It says, last week you gave me a burger, this week, give me pizza. 606 00:30:00,280 --> 00:30:02,680 Is the coach available live 24 hours? 607 00:30:02,960 --> 00:30:04,960 We have a dedicated team, this is not a coach. 608 00:30:05,040 --> 00:30:07,760 - Okay! But this is a live team and not AI. - We have a live team. 609 00:30:08,440 --> 00:30:11,760 I have dealt with weight loss struggles 610 00:30:11,960 --> 00:30:14,120 since childhood. 611 00:30:14,320 --> 00:30:17,280 When I was 17 years old, I weighed 118 kilos. 612 00:30:17,520 --> 00:30:20,640 People call you 'Fatso' instead of your name. 613 00:30:20,840 --> 00:30:22,360 Being overweight 614 00:30:22,640 --> 00:30:24,440 is humiliating. 615 00:30:24,560 --> 00:30:26,320 The one who hasn't faced it doesn't know. 616 00:30:27,360 --> 00:30:28,800 The flow is okay. 617 00:30:28,880 --> 00:30:30,880 But the practical challenge 618 00:30:30,960 --> 00:30:32,320 is adherence. 619 00:30:32,440 --> 00:30:34,560 If you follow it for 4-5 days 620 00:30:34,640 --> 00:30:36,480 and then binge eat on one fine day, 621 00:30:36,560 --> 00:30:37,800 everything gets negated. 622 00:30:38,040 --> 00:30:39,960 How do you break that cycle? 623 00:30:40,680 --> 00:30:43,720 First, we have an accountability partner for you 624 00:30:43,800 --> 00:30:45,040 who is following up with you every week. 625 00:30:45,040 --> 00:30:46,760 'How was your last week?' 626 00:30:46,880 --> 00:30:48,520 - Your journey gets better. - Agreed. 627 00:30:48,600 --> 00:30:50,680 We made diet interesting. 628 00:30:50,920 --> 00:30:52,520 Burger and pizza comes under your diet. 629 00:30:52,640 --> 00:30:54,080 If the diet is less difficult, 630 00:30:54,280 --> 00:30:56,000 then you can follow it longer. 631 00:30:56,240 --> 00:30:57,360 We added cheat meals. 632 00:30:57,440 --> 00:30:59,320 When you go out and there is a change in your diet, 633 00:30:59,360 --> 00:31:01,920 we are not asking you to log the data. 634 00:31:02,080 --> 00:31:03,200 We are doing that. 635 00:31:03,760 --> 00:31:06,600 I believe obesity has enemies. 636 00:31:06,800 --> 00:31:09,000 There is stress-eating, not sleeping on time, 637 00:31:09,080 --> 00:31:10,400 - and cravings. - Good. 638 00:31:10,480 --> 00:31:12,920 This is all an issue and we have a team of more than 639 00:31:13,080 --> 00:31:16,280 - 30 psychologists. - You're using a psychological approach. 640 00:31:16,360 --> 00:31:17,360 - Yes. - Very good! 641 00:31:17,640 --> 00:31:19,400 How many customers are on board? 642 00:31:19,600 --> 00:31:23,000 And how many new customers are through referrals 643 00:31:23,080 --> 00:31:25,320 - or paid? - Currently, around 40,000 paying customers. 644 00:31:25,440 --> 00:31:26,560 - 40,000. - Yes. 645 00:31:26,680 --> 00:31:28,800 60% of our customers 646 00:31:28,880 --> 00:31:30,280 come from non-paid channels. 647 00:31:30,440 --> 00:31:32,720 30% comes from referrals. 648 00:31:32,800 --> 00:31:34,640 Secondly, our strength 649 00:31:34,760 --> 00:31:35,760 is social media. 650 00:31:35,880 --> 00:31:38,080 - The balance is paid through advertising. - Yes. 651 00:31:38,160 --> 00:31:41,440 - Yes. - Do you do this for general health education? 652 00:31:41,560 --> 00:31:45,320 Because the tech platform gives you a unique ability to do this. 653 00:31:45,400 --> 00:31:47,080 Our strength, 654 00:31:47,360 --> 00:31:49,360 which we believe is our moat, 655 00:31:49,600 --> 00:31:53,200 is our ability to generate engagement on social media. 656 00:31:53,280 --> 00:31:54,760 - Okay! - From day 1, 657 00:31:54,880 --> 00:31:56,240 we've been doing this. 658 00:31:56,320 --> 00:31:58,840 We are trying to spread awareness through our content. 659 00:31:58,920 --> 00:32:00,360 When you say social media, 660 00:32:00,440 --> 00:32:03,920 Are you talking only about Instagram or Instagram and YouTube? 661 00:32:04,000 --> 00:32:06,120 - Facebook too. - Sir, we have multiple properties. 662 00:32:06,200 --> 00:32:09,560 Some, my own as a dietician and some of the brand's. 663 00:32:09,640 --> 00:32:11,800 From which platform does the majority of the traffic come? 664 00:32:11,840 --> 00:32:14,120 90% of the current traffic comes from Meta 665 00:32:14,360 --> 00:32:16,320 which has an equal split of Facebook and Instagram. 666 00:32:16,360 --> 00:32:18,520 - How many pages do you have in total? - Six pages. 667 00:32:18,600 --> 00:32:19,600 - Six pages. - Yes. 668 00:32:22,880 --> 00:32:25,920 Our current average order value is about Rs. 11,000 669 00:32:30,560 --> 00:32:32,440 We track retention through cohorts. 670 00:32:32,720 --> 00:32:35,320 Our observation about the industry has been 671 00:32:35,400 --> 00:32:36,760 that people generally come, 672 00:32:37,160 --> 00:32:39,040 for a while they feel they've got results 673 00:32:39,200 --> 00:32:41,320 - and so they want to continue. - Hmm. 674 00:32:41,520 --> 00:32:44,320 But they keep coming back because events in their life keep changing. 675 00:32:44,400 --> 00:32:45,920 Cities and jobs change. 676 00:32:46,000 --> 00:32:47,160 Or there's a wedding at home. 677 00:33:12,120 --> 00:33:14,400 - It's a premium model only. - Okay, got it. 678 00:33:16,960 --> 00:33:18,440 is selling your own supplements. 679 00:33:18,560 --> 00:33:21,040 Why haven't you thought about that revenue model? 680 00:33:21,680 --> 00:33:24,920 - We were busy solving this problem. - [chuckles] 681 00:33:25,040 --> 00:33:26,760 We believe this problem is very big. 682 00:33:26,840 --> 00:33:29,200 You mentioned you were rejected despite an ARR 683 00:33:29,280 --> 00:33:30,480 of Rs. 4 crores and 8 crores. 684 00:33:30,560 --> 00:33:31,720 What's the story behind that? 685 00:33:31,880 --> 00:33:33,720 We actually applied here. 686 00:33:33,800 --> 00:33:35,200 - On Shark Tank? - Yes. 687 00:33:35,720 --> 00:33:38,760 Our revenue in year one was Rs. 1 crore. 688 00:33:39,120 --> 00:33:41,120 In year two, it was around Rs. 4 crores. 689 00:33:41,200 --> 00:33:43,640 - Shark Tank Season 1 year one, Rs. 1 crore. - 20... 690 00:33:43,800 --> 00:33:45,880 - Shark Tank Season 2, it was... - Yes. 691 00:33:45,960 --> 00:33:47,520 - Again, Rs. 8 crores. - Rs. 8 crores. 692 00:33:47,600 --> 00:33:49,000 We didn't apply in Season 3. 693 00:33:49,680 --> 00:33:51,560 Our revenue then was Rs. 32 crores. 694 00:33:51,640 --> 00:33:54,720 - We're currently at about Rs. 100 crores. - Oh my God! 695 00:33:55,520 --> 00:33:57,440 The year closed in March. 696 00:33:57,520 --> 00:34:00,160 - We closed the year at Rs. 91 crores. - Okay. 697 00:34:00,240 --> 00:34:01,520 - FY 24. - Yes. 698 00:34:01,640 --> 00:34:03,560 - You're on an ARR of Rs. 100 crores now! - Yes. 699 00:34:07,880 --> 00:34:11,320 We raised a fund of Rs. 11 crores in January 2022. 700 00:34:11,440 --> 00:34:13,480 - Valuation? - Approximately Rs. 70 crores. 701 00:34:13,600 --> 00:34:14,680 After the fund raise 702 00:34:18,200 --> 00:34:21,200 They gave us a list of the top five auditors to get our audit done. 703 00:34:21,280 --> 00:34:23,640 That's when we learned accrual for the first time in life. 704 00:34:42,440 --> 00:34:45,920 but we decided to fix the EBITDA even if we progressed slowly. 705 00:34:46,000 --> 00:34:47,080 How are you fixing it? 706 00:34:47,200 --> 00:34:50,640 The best way to fix it is don't grow. 707 00:34:51,040 --> 00:34:51,920 That's what you did. 708 00:34:52,000 --> 00:34:53,440 If you don't grow, 709 00:34:53,680 --> 00:34:56,680 - your pending accrual from last year... - Will catch up. 710 00:34:56,760 --> 00:34:59,000 It'll be carried forward to this year and you'll make a profit. 711 00:34:59,000 --> 00:35:01,480 So, if you do only Rs. 115 crores this year, 712 00:35:01,680 --> 00:35:04,320 you're bound to make profits whether you do anything or not. 713 00:35:05,280 --> 00:35:06,720 You must be running out of cash. 714 00:35:07,000 --> 00:35:07,920 We have cash. 715 00:35:08,000 --> 00:35:10,040 - How much? - Rs. 21 crores. 716 00:35:10,400 --> 00:35:11,400 How? 717 00:35:11,560 --> 00:35:13,440 We've only been collecting cash for a long time. 718 00:35:13,560 --> 00:35:15,640 - We never... Our AOV is very high. - Yes, right. 719 00:35:15,760 --> 00:35:18,960 - What is your projected EBITDA? - 5%. 720 00:35:24,680 --> 00:35:28,600 what was your revenue on an accrued basis? 721 00:35:29,360 --> 00:35:30,440 Rs. 7.5 crores. 722 00:35:43,840 --> 00:35:45,680 It has definitely slowed down this year 723 00:35:45,760 --> 00:35:47,280 for a few reasons I believe. 724 00:35:47,400 --> 00:35:51,520 This year, we saw that the more you spend on paid marketing, 725 00:35:51,640 --> 00:35:53,800 the more the returns start to deteriorate. 726 00:35:53,880 --> 00:35:57,000 So, we took a call not to burn more money in the business. 727 00:35:57,280 --> 00:35:59,760 We started pulling back our marketing budget. 728 00:35:59,880 --> 00:36:01,320 There was a time last year 729 00:36:01,400 --> 00:36:05,560 when our monthly marketing budget nearly touched Rs. 4 crores. 730 00:36:05,680 --> 00:36:09,040 Now that number is less than Rs. 2.5 crores a month. 731 00:36:09,240 --> 00:36:10,840 Could you give us your unit economics? 732 00:36:11,320 --> 00:36:13,480 Our gross margin is 70%. 733 00:36:13,600 --> 00:36:16,840 30% is the cost of dieticians and coaches. 734 00:36:17,000 --> 00:36:19,440 We arrive at CM1 after deducting the cost of the sales team, 735 00:36:19,560 --> 00:36:22,600 platform charges and the no-cost EMI charges 736 00:36:22,840 --> 00:36:25,240 and that leaves us with 51%. 737 00:36:25,320 --> 00:36:26,960 - That's an expense of Rs. 19. - Yes. 738 00:36:27,160 --> 00:36:31,200 After deducting the marketing cost, the CM2 is 25-26%. 739 00:36:31,280 --> 00:36:33,960 Then comes the fixed cost and others. 740 00:36:34,040 --> 00:36:37,240 Is your fixed cost Rs. 27 for every Rs. 100? 741 00:36:37,320 --> 00:36:38,920 Around 25%. Yes. 742 00:36:39,120 --> 00:36:42,560 - Does it largely comprise of the corporate office staff? - Yes. 743 00:36:43,000 --> 00:36:44,320 What's their average pay? 744 00:36:44,400 --> 00:36:45,760 Rs. 25,000-30,000. 745 00:36:55,600 --> 00:36:57,720 Okay, Sahil and Mak. 746 00:36:58,080 --> 00:36:59,520 It was nice to meet you. 747 00:36:59,520 --> 00:37:01,120 You built a good business 748 00:37:01,600 --> 00:37:03,720 and that too quite capital-efficiently. 749 00:37:04,440 --> 00:37:07,200 You mentioned your retention rates earlier. 750 00:37:07,440 --> 00:37:10,320 It was 42% and then rose to 51%. 751 00:37:10,480 --> 00:37:13,400 In the retention world, this is called a smile curve 752 00:37:13,560 --> 00:37:14,920 which is a positive attribute. 753 00:37:15,960 --> 00:37:17,080 It means... 754 00:37:17,160 --> 00:37:20,200 Let's say you have 100 customers in M0. 755 00:37:20,480 --> 00:37:23,800 Then they go to 30, 42 and then 51. 756 00:37:23,920 --> 00:37:26,720 The best internet businesses have this attribute. 757 00:37:27,320 --> 00:37:30,400 You see, the smile curve has value 758 00:37:30,480 --> 00:37:33,280 only when it is coupled with good economics 759 00:37:33,360 --> 00:37:36,040 because when the marketing spend is too high, 760 00:37:36,200 --> 00:37:38,800 you can create a smile curve. 761 00:37:40,040 --> 00:37:42,080 And when the marketing spend is reduced, 762 00:37:42,240 --> 00:37:45,320 many times, that smile curve doesn't remain a smile curve. 763 00:37:45,520 --> 00:37:46,320 Sad curve. 764 00:37:46,400 --> 00:37:47,400 [chuckles] Yes. 765 00:37:47,920 --> 00:37:49,560 Depleting retention curve. 766 00:37:50,280 --> 00:37:51,720 I've done some rough maths. 767 00:37:51,800 --> 00:37:55,320 I think your retention curve will drop significantly 768 00:37:55,520 --> 00:37:58,280 and that will build pressure on your P&L. 769 00:37:58,360 --> 00:38:02,280 Now, the business will enter a readjustment phase. 770 00:38:02,760 --> 00:38:04,480 That's not a bad thing. 771 00:38:04,600 --> 00:38:08,080 I mean, we've done a lot of readjustments in our businesses too. 772 00:38:08,280 --> 00:38:10,920 But because your ask is too high, 773 00:38:11,040 --> 00:38:12,440 for that reason, I'm out. 774 00:38:12,520 --> 00:38:13,600 I wish you all the best. 775 00:38:13,680 --> 00:38:14,680 Thank you. 776 00:38:14,880 --> 00:38:17,680 Your business has a significant fixed cost. 777 00:38:18,120 --> 00:38:20,160 Because the fixed cost is so high, 778 00:38:20,360 --> 00:38:23,160 your business will always be exposed to risks. 779 00:38:23,240 --> 00:38:25,960 If your revenue drops slightly during the season time, 780 00:38:26,360 --> 00:38:28,280 then profit and loss could pose a challenge. 781 00:38:28,960 --> 00:38:31,440 The next 6-12 months will tell us 782 00:38:31,520 --> 00:38:33,440 whether the model you wish to switch to 783 00:38:33,960 --> 00:38:36,280 is successful and to what extent. 784 00:38:37,000 --> 00:38:38,480 For that reason, I'm out. 785 00:38:39,160 --> 00:38:41,800 I'd like to stay connected though and track your progress. 786 00:38:41,880 --> 00:38:43,080 We might join hands 787 00:38:43,160 --> 00:38:45,760 maybe at a higher valuation than what you asked for today. 788 00:38:46,080 --> 00:38:46,920 All the best. 789 00:38:47,040 --> 00:38:48,040 Thank you. 790 00:38:48,680 --> 00:38:53,000 Look, the point Ritesh mentioned as your biggest weakness 791 00:38:53,200 --> 00:38:55,560 is also your biggest strength in my view. 792 00:38:55,920 --> 00:38:58,800 This category has freelancers. 793 00:38:58,880 --> 00:39:00,520 Getting them to adhere 794 00:39:00,600 --> 00:39:04,520 and also, the client getting the same coach consistently 795 00:39:04,800 --> 00:39:06,600 is your biggest strength too. 796 00:39:07,520 --> 00:39:09,080 No, we don't know the attrition. 797 00:39:09,240 --> 00:39:10,480 It must be 70-80%. 798 00:39:10,560 --> 00:39:11,840 I think around 40%. 799 00:39:11,920 --> 00:39:12,920 - 40%. It's good. - 40%. 800 00:39:13,000 --> 00:39:14,000 Not bad. 801 00:39:22,440 --> 00:39:25,320 The second thing is your retention numbers. 802 00:39:25,400 --> 00:39:27,120 Where in two years, 803 00:39:27,240 --> 00:39:29,560 42% of people in India 804 00:39:29,720 --> 00:39:34,480 are coming back to buy something which is a Rs. 11,000-AOV product 805 00:39:34,560 --> 00:39:36,400 goes to say something magical is happening. 806 00:39:37,080 --> 00:39:38,640 So, I'll make you an offer. 807 00:39:38,760 --> 00:39:39,760 Oh, wow! 808 00:39:42,280 --> 00:39:43,280 Rs. 300 crores. 809 00:39:43,360 --> 00:39:44,360 Obviously not! 810 00:39:44,400 --> 00:39:46,560 Rs. 75 lakhs for 1% equity 811 00:39:46,680 --> 00:39:48,400 which is a Rs. 75-crore valuation 812 00:39:49,240 --> 00:39:53,040 plus Rs. 75 lakhs in debt at 10% interest 813 00:39:53,120 --> 00:39:54,800 for a three-year time period. 814 00:40:01,560 --> 00:40:04,160 Yes, Anupam. It's the psychology-driven approach. 815 00:40:04,280 --> 00:40:06,800 The other apps will ask you to track your calories 816 00:40:07,040 --> 00:40:08,560 and limit your portions 817 00:40:08,640 --> 00:40:09,680 which is difficult. 818 00:40:09,760 --> 00:40:12,080 Okay, there are different features but fundamentally, the same thing 819 00:40:12,080 --> 00:40:13,080 - at a broad level. - Yes. 820 00:40:13,160 --> 00:40:14,160 - Yes. - Okay. 821 00:40:14,280 --> 00:40:16,440 So, um... Love it! 822 00:40:17,440 --> 00:40:19,840 I understand these businesses somewhat 823 00:40:19,920 --> 00:40:22,560 where we build marketplaces on two sides. 824 00:40:22,920 --> 00:40:25,640 So, a lot of network effects kick in. 825 00:40:34,600 --> 00:40:37,280 This was your 3-5 year journey. 826 00:40:37,400 --> 00:40:38,920 I don't know if you're ready for that. 827 00:40:39,080 --> 00:40:42,080 You have to do marketing. 828 00:40:42,160 --> 00:40:43,520 You don't have a choice 829 00:40:43,600 --> 00:40:46,400 because this is a marketing-led business. 830 00:40:46,680 --> 00:40:50,880 You are up against at least two big competitors. 831 00:40:51,320 --> 00:40:52,680 What you can do 832 00:40:53,000 --> 00:40:56,160 is become very sharp at your marketing and advertising. 833 00:40:56,320 --> 00:40:58,000 You can do it at 50% of the cost 834 00:40:58,080 --> 00:40:59,560 as your largest competitor. 835 00:41:00,360 --> 00:41:02,640 In order to embark on this journey, 836 00:41:03,120 --> 00:41:04,720 you'll have to take this route. 837 00:41:04,800 --> 00:41:06,120 Somebody will have to fund you. 838 00:41:06,200 --> 00:41:08,400 And the alternative of not being able to do that 839 00:41:08,560 --> 00:41:11,400 is you'll still do a business of Rs. 100-200 crores 840 00:41:11,560 --> 00:41:13,360 but there will be no margins. 841 00:41:13,880 --> 00:41:15,080 So, for that reason, I'm out. 842 00:41:15,520 --> 00:41:16,640 You have an offer. 843 00:41:17,280 --> 00:41:18,280 Good luck. 844 00:41:19,600 --> 00:41:23,080 I was called fat during my school days. 845 00:41:24,240 --> 00:41:26,400 I don't think a lot of people knew my name. 846 00:41:26,520 --> 00:41:30,880 And Kunal is right about the emotional impact it has. 847 00:41:31,080 --> 00:41:34,720 I started emotional eating because of that low self-esteem. 848 00:41:34,840 --> 00:41:37,280 You've added a mental health aspect. 849 00:41:37,400 --> 00:41:40,040 I think that is the most important one. 850 00:41:40,720 --> 00:41:43,200 I think by adding a supplement's business, 851 00:41:43,280 --> 00:41:44,720 this business can be activated. 852 00:41:44,800 --> 00:41:47,560 - So, I'd like to take a bet on you. - Oi! Well done, girls. 853 00:41:47,640 --> 00:41:51,080 Vineeta, I can join you provided you're okay with a royalty. 854 00:41:51,160 --> 00:41:53,760 Will you give a royalty for an increased valuation? 855 00:41:53,880 --> 00:41:55,320 Could we hear the offer first, ma'am? 856 00:41:55,320 --> 00:41:56,160 Good answer. 857 00:41:56,320 --> 00:41:57,520 - Okay. - We'll go together. 858 00:41:58,000 --> 00:41:59,520 Rs. 1.5 crores 859 00:42:00,200 --> 00:42:02,400 for 1.5% equity 860 00:42:02,600 --> 00:42:05,200 and 1% royalty on sales 861 00:42:05,320 --> 00:42:07,800 till we get our Rs. 1.5 crores back. 862 00:42:14,920 --> 00:42:16,680 We'd like to propose a counter. 863 00:42:19,320 --> 00:42:21,000 Rs. 1.5 crores 864 00:42:21,200 --> 00:42:23,160 for 1% of the company 865 00:42:23,360 --> 00:42:25,440 which is a Rs. 150-crore valuation 866 00:42:25,680 --> 00:42:27,840 and 1% royalty 867 00:42:28,040 --> 00:42:30,360 till the time you get your money back. 868 00:42:32,840 --> 00:42:34,280 [tense music playing] 869 00:42:37,080 --> 00:42:39,320 We accept your counteroffer. 870 00:42:39,440 --> 00:42:40,440 You have a deal. 871 00:42:47,320 --> 00:42:48,800 [joyous music playing] 872 00:42:52,280 --> 00:42:53,400 [camera shutter clicking] 873 00:43:03,520 --> 00:43:05,320 'We don't have a problem with the royalty' 874 00:43:05,600 --> 00:43:08,200 'because it's a part of a business that will eventually grow.' 875 00:43:08,360 --> 00:43:11,360 We stuck to our story. We want to build profitability. 876 00:43:11,680 --> 00:43:13,240 And because we want to build profitability, 877 00:43:13,280 --> 00:43:15,960 we don't have a problem in passing on the royalty to them. 878 00:43:16,600 --> 00:43:19,160 Team Fitelo, welcome to the PokerBaazi zone 879 00:43:19,240 --> 00:43:20,680 where you hold the cards, 880 00:43:22,360 --> 00:43:24,120 Not one cheque, you hold two cheques! 881 00:43:24,640 --> 00:43:25,640 - Are you happy? - Very. 882 00:43:50,800 --> 00:43:53,280 I'm sure business has a few areas of focus too. 883 00:43:53,360 --> 00:43:57,120 Well, tell me what your top five areas of focus are 884 00:43:57,200 --> 00:43:58,720 and rank them, please. 885 00:43:58,840 --> 00:44:00,520 As in, what would be your Royal Flush 886 00:44:00,600 --> 00:44:02,080 and what is your Flush or number five? 887 00:44:02,200 --> 00:44:04,600 Royal Flush would be the product. 888 00:44:05,040 --> 00:44:06,240 Product, great. 889 00:44:07,480 --> 00:44:09,000 - Straight Flush would be... - Hmm? 890 00:44:09,080 --> 00:44:09,920 Customer service. 891 00:44:10,000 --> 00:44:11,840 Customer service. Interesting. 892 00:44:11,920 --> 00:44:14,520 Four of a kind would be our tech and product. 893 00:44:14,720 --> 00:44:16,000 Tech and product. 894 00:44:16,240 --> 00:44:18,200 Full house would be team culture. 895 00:44:18,280 --> 00:44:19,280 Which is your flush! 896 00:44:19,520 --> 00:44:23,200 The last one, that we learned today, is finance and accounting. 897 00:44:23,280 --> 00:44:24,280 Finance. 898 00:44:24,360 --> 00:44:26,560 Great. You have good clarity of thought 899 00:44:51,720 --> 00:44:53,480 and download the PokerBaazi app now. 900 00:45:13,560 --> 00:45:15,760 Let me give you a real deal. 901 00:45:15,880 --> 00:45:19,080 Go to Lenskart app or lenskart.com 902 00:45:19,280 --> 00:45:22,400 and participate in the "Offer Or No Offer" contest. 903 00:45:34,120 --> 00:45:35,560 [theme music playing] 904 00:45:58,360 --> 00:46:00,240 [theme music concludes] 905 00:46:01,080 --> 00:46:02,360 - Sharks. - Yes. 906 00:46:02,440 --> 00:46:03,520 - Greetings. - Greetings. 907 00:46:03,600 --> 00:46:05,000 Do you remember 908 00:46:05,080 --> 00:46:06,920 - visiting your maternal grandma during the summers? - Yes. 909 00:46:06,960 --> 00:46:07,800 Absolutely. 910 00:46:07,880 --> 00:46:11,040 When she'd very fondly seat you on her lap 911 00:46:11,120 --> 00:46:13,440 and feed you your favourite dish. 912 00:46:13,800 --> 00:46:15,840 That food didn't just satiate your hunger 913 00:46:15,920 --> 00:46:17,080 but left you feeling content. 914 00:46:17,160 --> 00:46:17,960 Absolutely. 915 00:46:18,080 --> 00:46:20,800 Your grandma's house wasn't just a place or memory 916 00:46:20,960 --> 00:46:22,280 but an emotion too. 917 00:46:22,920 --> 00:46:25,920 Today, either we're far from home 918 00:46:26,120 --> 00:46:28,480 or we don't have time. 919 00:46:28,880 --> 00:46:33,560 When we come home after working a 10 or 12-hour shift, 920 00:46:33,760 --> 00:46:36,960 our hearts yearn to have that delicious and healthy food 921 00:46:37,160 --> 00:46:39,000 made with love. 922 00:46:39,200 --> 00:46:40,200 Greetings, Sharks. 923 00:46:40,280 --> 00:46:42,160 - I'm Debjani Mukherjee. - Oh, my! 924 00:46:48,760 --> 00:46:50,160 and we're from Kolkata. 925 00:46:50,560 --> 00:46:54,040 Nanighar is an online app-based food service 926 00:46:54,360 --> 00:46:57,560 that delivers food made by local mom chefs, 927 00:47:02,000 --> 00:47:04,600 Our FSSAI-certified mom chefs 928 00:47:04,680 --> 00:47:07,440 prepare their authentic cuisines 929 00:47:20,920 --> 00:47:23,640 This platform provides every such mom 930 00:47:23,760 --> 00:47:25,760 with an identity. 931 00:47:25,920 --> 00:47:29,000 It also provides economic empowerment. 932 00:47:29,400 --> 00:47:31,080 Today, we are present in Kolkata. 933 00:47:31,160 --> 00:47:34,000 We've already made over 1 lakh deliveries. 934 00:47:34,080 --> 00:47:37,280 We have a network of over 500 certified mom chefs. 935 00:47:39,720 --> 00:47:42,000 to deliver a granny's love 936 00:47:42,080 --> 00:47:45,520 and a mom chef's deliciously cooked food 937 00:47:45,720 --> 00:47:49,240 to every alley and city in India and everyone. 938 00:47:49,440 --> 00:47:52,040 For this, we require your support 939 00:47:52,160 --> 00:47:54,600 and just Rs. 1 crore for 5% equity. 940 00:47:55,080 --> 00:47:57,160 Sharks, welcome to Nanighar 941 00:47:57,240 --> 00:47:59,000 where every dish 942 00:47:59,160 --> 00:48:02,160 goes straight from our homes and into your hearts. 943 00:48:02,480 --> 00:48:06,000 - And we are accompanied by 1 out of our 500 mom chefs... - Wow. 944 00:48:06,080 --> 00:48:08,760 - Who has prepared food for you with love. - Oh! 945 00:48:10,920 --> 00:48:12,280 - Greetings, Sharks. - Greetings. 946 00:48:12,880 --> 00:48:16,520 - [Bengali] Are you from Kolkata? - [Bengali] Yes, I'm from Kolkata. 947 00:48:16,600 --> 00:48:19,320 Now, it's evident that you married a Bengali. 948 00:48:19,400 --> 00:48:21,160 [Bengali] My husband is from Kolkata. 949 00:48:21,240 --> 00:48:22,560 She's a Bengali daughter-in-law. 950 00:48:22,680 --> 00:48:23,680 [chuckles] 951 00:48:24,560 --> 00:48:26,520 - Thank you so much. - This is veg for you. 952 00:48:26,760 --> 00:48:28,400 - You did your homework. - Vegetarian. 953 00:48:28,640 --> 00:48:29,760 - Yes. - Ooh! 954 00:48:29,840 --> 00:48:31,400 This is Bengali Sweet Pulao. 955 00:48:31,480 --> 00:48:33,640 - Oh, wow! Thank you so much. - Try it and let me know. 956 00:48:34,680 --> 00:48:36,320 - Are you Bengali? - Yes. 957 00:48:39,680 --> 00:48:40,680 He's Chatterjee too. 958 00:48:40,720 --> 00:48:41,720 She's Mukherjee. 959 00:48:41,840 --> 00:48:43,400 Do you know Kaushik Mukherjee? 960 00:48:43,480 --> 00:48:44,680 - Yes. - Okay. 961 00:48:44,760 --> 00:48:45,680 He's her better half. 962 00:48:45,760 --> 00:48:47,080 - Oh, wow. - [giggles] 963 00:48:47,160 --> 00:48:48,360 No, she's the better half! 964 00:48:48,440 --> 00:48:49,960 - [laughs] - It's evident. 965 00:48:50,360 --> 00:48:51,760 Are you each other's better half? 966 00:48:51,840 --> 00:48:53,760 - That's right. - Yes. We're husband and wife. 967 00:48:53,840 --> 00:48:55,520 - But your last names differ. - Yes. 968 00:48:55,600 --> 00:48:56,760 [laughs] 969 00:48:57,000 --> 00:48:58,880 She wanted to retain her maiden identity 970 00:48:58,960 --> 00:48:59,960 - which I loved. - Ah! 971 00:49:00,040 --> 00:49:01,160 - It is a great thing. - And... 972 00:49:01,200 --> 00:49:03,440 Our daughters have her maiden name. 973 00:49:03,600 --> 00:49:05,440 - Oh! - Wow! How unique! 974 00:49:05,640 --> 00:49:08,800 We decided if it was a boy, he'd take the last name Chatterjee 975 00:49:08,960 --> 00:49:10,280 and a girl would be Mukherjee. 976 00:49:10,360 --> 00:49:11,680 - Oh! - God answered my prayers. 977 00:49:11,760 --> 00:49:12,840 Amazing. 978 00:49:13,080 --> 00:49:14,360 God gave me three daughters. 979 00:49:14,480 --> 00:49:15,520 Luckiest father. 980 00:49:15,960 --> 00:49:17,840 [light-hearted music playing] 981 00:49:20,560 --> 00:49:23,040 - Ma'am, did you make this? - Yes. 982 00:49:30,000 --> 00:49:31,000 This is raita. 983 00:49:54,080 --> 00:49:55,320 It tastes very good. 984 00:49:55,400 --> 00:49:58,160 How did you come to know about them and why did you join them? 985 00:49:58,360 --> 00:50:01,080 - For a very emotional reason. - Tell us, please. 986 00:50:01,160 --> 00:50:04,920 In January 2021, my younger brother passed away. 987 00:50:05,000 --> 00:50:06,240 - Oh, I'm so sorry. - Sorry to hear that. 988 00:50:06,280 --> 00:50:09,000 - I'm a handwriting analyst. - Oh, wow! 989 00:50:09,080 --> 00:50:11,960 I work with handwriting and do counselling as well. 990 00:50:12,120 --> 00:50:14,680 I was really upset after my brother died. 991 00:50:15,160 --> 00:50:17,240 They said, "Auntie, do this." 992 00:50:17,320 --> 00:50:21,520 "You're fond of cooking. Why don't you join Nanighar?" 993 00:50:21,840 --> 00:50:25,560 I always wanted to do a food business 994 00:50:25,640 --> 00:50:28,400 but I didn't have a delivery van. 995 00:50:28,560 --> 00:50:30,440 Nanighar provides that facility. 996 00:50:30,520 --> 00:50:32,160 I just cook the food 997 00:50:32,240 --> 00:50:35,040 and their rider comes home and picks up the delivery. 998 00:50:35,120 --> 00:50:36,520 You don't have to worry. 999 00:50:37,120 --> 00:50:40,120 How many meals do you sell 1000 00:50:40,200 --> 00:50:42,200 or deliver through them every month? 1001 00:50:42,320 --> 00:50:44,640 If the app is switched on, 1002 00:50:45,080 --> 00:50:47,160 I get 3-4 orders daily. 1003 00:50:47,240 --> 00:50:49,080 No. If it is on... Do you log off it? 1004 00:50:49,160 --> 00:50:51,160 I do log off it sometimes. 1005 00:50:51,800 --> 00:50:54,480 How much do you approximately earn from this in a month? 1006 00:50:54,760 --> 00:50:56,640 - They pay me weekly. - Okay. 1007 00:50:56,720 --> 00:50:59,600 So, I make Rs. 12,000-15,000. 1008 00:50:59,680 --> 00:51:00,960 - Per week? - Yes. 1009 00:51:06,440 --> 00:51:07,920 How much profit do you make? 1010 00:51:08,120 --> 00:51:10,600 - The profit is fifty-fifty. - Okay. 1011 00:51:10,720 --> 00:51:13,080 How much do you sell a packet for? 1012 00:51:13,160 --> 00:51:17,480 I sell veg for Rs. 125-150. 1013 00:51:24,600 --> 00:51:25,520 Thank you so much. 1014 00:51:25,600 --> 00:51:27,080 - Really appreciate you coming here. - Thank you. 1015 00:51:27,120 --> 00:51:28,120 Thank you, ma'am. 1016 00:51:28,160 --> 00:51:29,320 I am glad. 1017 00:51:29,400 --> 00:51:31,160 [Bengali] Okay, take care. [chuckles] 1018 00:51:32,400 --> 00:51:36,680 - Do all the 500 chefs get as many orders as ma'am? - No. 1019 00:51:37,440 --> 00:51:39,240 How much do the chefs make on average? 1020 00:51:39,320 --> 00:51:40,320 Rs. 30,000. 1021 00:51:41,760 --> 00:51:46,120 Does the customer order from you or do you sell on Zomato and Swiggy? 1022 00:51:46,200 --> 00:51:50,120 Currently, what we are struggling with is logistics. 1023 00:51:50,360 --> 00:51:51,200 Delivery. 1024 00:51:51,280 --> 00:51:53,520 We've been burning cash for the last many years 1025 00:51:53,600 --> 00:51:54,680 only because of deliveries. 1026 00:51:55,320 --> 00:51:58,040 So, we've tied up with Zomato this year. 1027 00:52:14,960 --> 00:52:16,240 We're not a restaurant. 1028 00:52:16,520 --> 00:52:19,280 Nothing is ready. Everything is freshly made. 1029 00:52:19,440 --> 00:52:22,160 So, we've trained 20 mom chefs. 1030 00:52:29,720 --> 00:52:31,600 So, if you wish to pre-order... 1031 00:52:31,720 --> 00:52:33,800 If you want, we'll give you the app demo. 1032 00:52:33,920 --> 00:52:35,920 - Can I just show our app to you? - Sure. 1033 00:52:38,600 --> 00:52:39,920 Please give me the phone for a minute. 1034 00:52:39,960 --> 00:52:41,840 Please let him do something. 1035 00:52:41,920 --> 00:52:42,920 [laughs] 1036 00:52:43,000 --> 00:52:45,120 If you do everything, what will the poor guy do? 1037 00:52:45,200 --> 00:52:47,560 - So, you... You know better. - [Anupam laughs] 1038 00:52:48,840 --> 00:52:50,120 The location is on the top. 1039 00:52:50,240 --> 00:52:52,920 After that, we can search 1040 00:52:53,000 --> 00:52:54,640 - for any food like... - Search for Kashmiri. 1041 00:52:54,640 --> 00:52:56,240 Let's go with Kashmiri. 1042 00:52:56,520 --> 00:52:58,600 When I feed in Kashmiri, 1043 00:52:58,880 --> 00:53:01,920 - this is the personal touch we don't get in Zomato. - Very nice. 1044 00:53:02,040 --> 00:53:04,400 We have a write-up. 1045 00:53:05,000 --> 00:53:07,720 - For that particular mom chef... - For every mom chef. 1046 00:53:07,800 --> 00:53:08,680 We have a write-up. 1047 00:53:08,760 --> 00:53:11,480 If you look at the bottom, she's FSSAI-registered. 1048 00:53:11,720 --> 00:53:15,040 This is 'airy and clean kitchen' which is our certification. 1049 00:53:15,360 --> 00:53:16,600 And her category is 'star chef'. 1050 00:53:16,640 --> 00:53:19,960 - You got 500 chefs FSSAI-licensed. - Everyone. 1051 00:53:20,040 --> 00:53:22,080 We help them. They pay for it. 1052 00:53:31,200 --> 00:53:32,080 These are all... 1053 00:53:32,160 --> 00:53:35,360 - They're not always available in local restaurants. - Yes. 1054 00:53:35,560 --> 00:53:37,520 - From six hours to... - Seven days. 1055 00:53:37,600 --> 00:53:39,360 You can schedule it till seven days. 1056 00:53:42,960 --> 00:53:44,640 and if you want a real-time order, 1057 00:53:44,720 --> 00:53:46,640 - order from Nanighar via Zomato. - Right, sir. 1058 00:53:46,720 --> 00:53:51,080 - You have 20 trained home chefs... - Right. 1059 00:53:51,200 --> 00:53:53,680 - Who you closely work with. - Right. 1060 00:53:53,800 --> 00:53:56,520 It's not like we didn't try to run the live orders 1061 00:53:56,600 --> 00:53:57,960 and pre-order kitchen together. 1062 00:53:58,280 --> 00:54:01,640 When we tried the live kitchen, we had more bleeding 1063 00:54:01,960 --> 00:54:03,680 because we had to deliver the food as soon as we got it. 1064 00:54:03,720 --> 00:54:06,600 So, we'd get done with that and then only went on Zomato for live orders. 1065 00:54:06,640 --> 00:54:09,960 - The company Holachef worked on the exact same model. - Yes. 1066 00:54:10,040 --> 00:54:11,560 They raised a lot of capital. 1067 00:54:11,680 --> 00:54:12,840 Why did it fail? 1068 00:54:12,920 --> 00:54:15,280 I think one of the biggest reasons was the delivery cost 1069 00:54:15,360 --> 00:54:17,320 plus SOPs. 1070 00:54:17,800 --> 00:54:19,480 Of course, delivery is one point. 1071 00:54:19,720 --> 00:54:20,920 Another point was this. 1072 00:54:21,000 --> 00:54:22,120 In today's date, 1073 00:54:22,320 --> 00:54:24,400 we've built a standardised process 1074 00:54:24,520 --> 00:54:26,320 and any dish can be made 1075 00:54:26,480 --> 00:54:29,200 using the same standardised process. 1076 00:54:29,280 --> 00:54:31,520 I'm not saying Holachef didn't do that, 1077 00:54:31,680 --> 00:54:33,600 but there was a mismatch. 1078 00:54:33,920 --> 00:54:37,480 There's a structural problem in this. 1079 00:54:38,080 --> 00:54:40,800 You'll find two types of chefs. 1080 00:54:41,160 --> 00:54:45,520 One like Ms. Chatterjee who works part-time 1081 00:54:45,640 --> 00:54:47,640 - and then you have full-time. - Yes. 1082 00:54:47,720 --> 00:54:49,440 The structural problem that arises is 1083 00:54:49,520 --> 00:54:50,960 with those who work part-time. 1084 00:54:51,440 --> 00:54:55,120 - You don't know when they switch on and switch off. - Absolutely. 1085 00:54:55,400 --> 00:54:56,960 You know, I want to order the same food. 1086 00:54:57,040 --> 00:54:58,920 If it's not available, that's a problem for me. 1087 00:54:59,240 --> 00:55:02,040 Those who work full-time think, 1088 00:55:02,120 --> 00:55:04,600 "Oh, I'm earning well now." 1089 00:55:04,960 --> 00:55:07,400 "Why don't I move directly to Zomato or Swiggy?" 1090 00:55:08,680 --> 00:55:12,640 - Anupam, this isn't just a business venture to us. - Okay. 1091 00:55:12,840 --> 00:55:15,360 This is to enable women empowerment. 1092 00:55:15,440 --> 00:55:18,200 We've worked with many stay-at-home moms 1093 00:55:18,280 --> 00:55:19,280 and observed this. 1094 00:55:19,400 --> 00:55:23,080 When they turn 45 and they've sacrificed everything, 1095 00:55:23,360 --> 00:55:25,800 they feel a certain emptiness. 1096 00:55:26,000 --> 00:55:30,080 Nanighar has given them another platform. 1097 00:55:30,560 --> 00:55:33,400 So, this is also the reason and not just making money. 1098 00:55:33,560 --> 00:55:37,200 We were very well off when we were doing our own service. 1099 00:55:38,520 --> 00:55:40,560 Could you give us your background? 1100 00:55:40,640 --> 00:55:42,880 I completed my graduation in 2002. 1101 00:55:42,960 --> 00:55:44,720 Then I did my MBA. 1102 00:55:45,240 --> 00:55:48,480 After graduation, I worked with Berger Paints, ICI 1103 00:55:48,600 --> 00:55:51,080 - and then I was with HDFC Bank. - HDFC Bank. 1104 00:55:51,160 --> 00:55:52,760 Sales and marketing distribution. 1105 00:55:52,880 --> 00:55:55,080 And last, I was working with Century Ply. 1106 00:55:55,280 --> 00:55:59,320 I started my career in advertising. 1107 00:55:59,400 --> 00:56:03,600 Then I worked with a real estate organisation in Kolkata. 1108 00:56:03,880 --> 00:56:06,400 Actually, my family is also into real estate. 1109 00:56:06,560 --> 00:56:09,920 We ran a PPP model with the Government of West Bengal. 1110 00:56:10,120 --> 00:56:11,680 There were six promoters 1111 00:56:11,760 --> 00:56:13,280 including Emami, Keventer and others. 1112 00:56:13,360 --> 00:56:14,760 When Urbana came... 1113 00:56:14,840 --> 00:56:16,280 It's a conglomerate. 1114 00:56:16,360 --> 00:56:18,520 They had a Rs. 7,000-crore project. 1115 00:56:18,720 --> 00:56:22,600 I joined the project in 2007 as the GM 1116 00:56:22,680 --> 00:56:26,360 and resigned in 2022 as the CEO 1117 00:56:26,440 --> 00:56:28,400 because I wanted to give my full time to Nanighar. 1118 00:56:28,480 --> 00:56:29,920 Which year did you start Nanighar? 1119 00:56:30,000 --> 00:56:31,720 We started Nanighar in 2019. 1120 00:56:31,800 --> 00:56:32,800 July-August. 1121 00:56:33,600 --> 00:56:36,320 I didn't understand one thing fundamentally. 1122 00:56:36,560 --> 00:56:38,520 You've been running your app for five years. 1123 00:56:38,800 --> 00:56:40,720 You said you're burning cash. 1124 00:56:41,040 --> 00:56:42,960 Why not only be 1125 00:56:43,400 --> 00:56:45,640 a merchant on Zomato and Swiggy? 1126 00:56:46,360 --> 00:56:50,400 If we were to take the concept of Nanighar to Zomato, 1127 00:56:50,480 --> 00:56:52,320 then Nanighar would lose its warmth 1128 00:56:52,400 --> 00:56:54,400 and the people associated with Nanighar 1129 00:56:54,560 --> 00:56:56,800 would lose their identities. 1130 00:56:56,960 --> 00:56:58,560 We've done the math, Sharks. 1131 00:56:58,640 --> 00:57:01,560 Our cost per order is Rs. 96. 1132 00:57:01,640 --> 00:57:04,760 When my order value goes to Rs. 264, I'll hit breakeven. 1133 00:57:05,400 --> 00:57:06,440 On Zomato? 1134 00:57:12,000 --> 00:57:14,480 you'll get a good meal in Rs. 80. 1135 00:57:14,680 --> 00:57:16,400 That's our struggle. 1136 00:57:16,480 --> 00:57:19,520 Our average price is between Rs. 150-175. 1137 00:57:19,560 --> 00:57:22,520 If I get an order value for Rs. 500, I'll make a profit. 1138 00:57:23,160 --> 00:57:24,560 Could you tell us your revenues? 1139 00:57:24,680 --> 00:57:28,520 This year from January to November, 1140 00:57:28,600 --> 00:57:31,760 we have done around Rs. 64 lakhs only in Kolkata. 1141 00:57:31,920 --> 00:57:33,280 What was the loss? 1142 00:57:33,720 --> 00:57:37,560 Every month, we invest Rs. 1-1.2 lakhs from our pocket. 1143 00:57:38,440 --> 00:57:40,320 Rs. 10 lakhs is your loss. 1144 00:57:45,560 --> 00:57:46,360 Okay. 1145 00:57:46,440 --> 00:57:47,680 Full year's projected sales? 1146 00:57:47,760 --> 00:57:50,280 We currently do Rs. 6 lakhs on average. 1147 00:57:50,400 --> 00:57:52,080 What was last year's figure? 1148 00:57:52,280 --> 00:57:54,200 - Last year was very bad for us. - Tell me. 1149 00:57:54,360 --> 00:57:56,280 Sharing eases one's sorrows. Tell us. 1150 00:57:56,600 --> 00:57:58,200 Last year, it was Rs. 48 lakhs. 1151 00:57:58,280 --> 00:57:59,320 How much was the loss? 1152 00:58:01,440 --> 00:58:04,520 Last year, the loss was around Rs. 25-26 lakhs. 1153 00:58:05,240 --> 00:58:06,800 Your loss is more than your revenue. 1154 00:58:06,920 --> 00:58:10,760 Your revenue is 25% of Rs. 45 lakhs which is Rs. 10-12 lakhs. 1155 00:58:10,880 --> 00:58:14,160 You've lost Rs. 25 lakhs to make Rs. 12 lakhs. 1156 00:58:14,920 --> 00:58:16,480 This is the same thing as 1157 00:58:16,600 --> 00:58:21,000 if you give me Rs. 100, I'll give you Rs. 200. 1158 00:58:21,560 --> 00:58:24,440 We can play this game all day provided you're ready. 1159 00:58:25,480 --> 00:58:26,960 I understand women empowerment 1160 00:58:27,040 --> 00:58:30,600 but you can do women empowerment only if you have a business left. 1161 00:58:30,840 --> 00:58:32,920 - Perhaps, you have too much money. - No. 1162 00:58:33,280 --> 00:58:35,840 But you'll run out sooner or later, right? 1163 00:58:36,280 --> 00:58:37,360 So, why? 1164 00:58:37,480 --> 00:58:40,600 If we launch this model on a pan-India basis, 1165 00:58:40,680 --> 00:58:43,080 - we'll get volume. - Oh! Oh, God! 1166 00:58:43,160 --> 00:58:45,040 - We've already started... - Oh, God. No! 1167 00:58:45,120 --> 00:58:47,280 - In Delhi and Gurgaon. - No! No, my friend. My friend. 1168 00:58:47,360 --> 00:58:48,960 This is a local business. 1169 00:58:49,240 --> 00:58:51,200 If you don't crack the unit economics 1170 00:58:51,280 --> 00:58:53,760 and logistics of one area, 1171 00:58:54,320 --> 00:58:55,800 the more you expand, 1172 00:58:55,880 --> 00:58:57,480 - the more loss you'll make. - The more we'll bleed. 1173 00:58:57,480 --> 00:58:58,920 How much of your money did you invest? 1174 00:58:58,960 --> 00:59:00,640 Approximately Rs. 2.5 crores. 1175 00:59:01,360 --> 00:59:02,880 Didn't you raise any capital? 1176 00:59:02,960 --> 00:59:04,040 No, we are bootstrapped. 1177 00:59:04,720 --> 00:59:06,920 Stop! Stop, you're wasting your money. 1178 00:59:07,480 --> 00:59:10,560 If you'd invested Rs. 2.5 crores directly to empower women, 1179 00:59:10,640 --> 00:59:13,440 you could have changed the lives of so many women. 1180 00:59:13,520 --> 00:59:15,280 Look, I think there are two things you can do. 1181 00:59:15,320 --> 00:59:17,640 Do the business on Zomato and Swiggy. 1182 00:59:18,080 --> 00:59:20,000 Stick to the specialities 1183 00:59:20,400 --> 00:59:22,640 of different cuisines with a few women on board. 1184 00:59:22,800 --> 00:59:25,960 Make such an arrangement with them, 1185 00:59:26,120 --> 00:59:29,520 if you make a Rs. 10,000 profit, charge a commission of only 2%. 1186 00:59:29,920 --> 00:59:32,080 - When you make Rs. 20,000, charge 5%. - Yes. 1187 00:59:32,200 --> 00:59:34,000 So, your margins will also keep on increasing. 1188 00:59:34,200 --> 00:59:35,120 The second way. 1189 00:59:35,200 --> 00:59:38,120 If you really love your app and want to run it, 1190 00:59:38,320 --> 00:59:41,840 there's an interesting opportunity for a tiffin service. 1191 00:59:41,920 --> 00:59:45,080 So, your logistics cost per delivery 1192 00:59:45,200 --> 00:59:46,880 - will significantly reduce. - Will reduce. 1193 00:59:47,280 --> 00:59:50,320 But because of the structural problems, I'm out. 1194 00:59:50,560 --> 00:59:51,560 Good luck. 1195 00:59:52,880 --> 00:59:56,280 When you sell on Zomato, are you profitable or not? 1196 00:59:56,880 --> 00:59:58,800 Yes, the profit is 2%. 1197 00:59:59,280 --> 01:00:02,280 - But it's a loss when you sell on Nanighar. - Right. 1198 01:00:03,680 --> 01:00:06,520 I'd be redundant if we had to sell on Zomato. 1199 01:00:07,200 --> 01:00:10,200 Nanighar has become a brand name and people recognise it. 1200 01:00:16,480 --> 01:00:18,320 - You could apply it. - Where? 1201 01:00:18,440 --> 01:00:21,120 Make a new Holachef 1202 01:00:21,160 --> 01:00:24,280 but on Zomato and Swiggy. 1203 01:00:25,480 --> 01:00:29,080 You'd however need to let go of your attachment. 1204 01:00:29,880 --> 01:00:31,840 - I'm out for today. - Okay, sir. 1205 01:00:31,920 --> 01:00:32,920 Wish you all the best. 1206 01:00:32,960 --> 01:00:35,400 I don't agree with Kunal's suggestion. 1207 01:00:35,960 --> 01:00:39,680 A lot of people are running home tiffins on Zomato and Swiggy. 1208 01:00:39,760 --> 01:00:41,440 It's already a crowded market too. 1209 01:00:46,240 --> 01:00:50,080 Your challenge is that you picked a market like Kolkata 1210 01:00:50,240 --> 01:00:53,920 where no one wants to pay more than Rs. 175 for home food. 1211 01:00:54,080 --> 01:00:57,640 Pick a market where people miss having home food. 1212 01:00:57,800 --> 01:00:59,120 - Like Bengaluru. - Bengaluru. 1213 01:00:59,200 --> 01:01:00,280 - Like Mumbai. - Exactly. 1214 01:01:00,360 --> 01:01:03,160 I feel the bigger problem than that is, 1215 01:01:03,240 --> 01:01:06,640 because you had your own capital of Rs. 2-2.5 crores, 1216 01:01:06,760 --> 01:01:11,320 perhaps, your hunger didn't let you iterate that as quickly. 1217 01:01:11,400 --> 01:01:13,080 So, my suggestion to you is 1218 01:01:13,240 --> 01:01:16,560 to run a little faster and iterate. 1219 01:01:16,680 --> 01:01:18,640 - Good luck. I'm out. - Thank you. 1220 01:01:18,840 --> 01:01:21,640 You know, the food business is a very difficult business. 1221 01:01:23,160 --> 01:01:24,720 But I agree with Kunal 1222 01:01:24,760 --> 01:01:26,760 and you can do this on Zomato. 1223 01:01:27,120 --> 01:01:28,320 And the reason is 1224 01:01:35,360 --> 01:01:37,880 It's not like they'll suddenly quit and move to Zomato. 1225 01:01:37,960 --> 01:01:39,880 It's not so easy for them to do it independently. 1226 01:01:40,080 --> 01:01:43,680 - They'll need hand-holding for quite some time. - Absolutely. 1227 01:01:43,800 --> 01:01:45,640 On my part, I'm out 1228 01:01:45,800 --> 01:01:49,040 because I won't be able to help you much. 1229 01:01:49,120 --> 01:01:50,880 - I wish you the very best. - Thank you. 1230 01:01:51,040 --> 01:01:53,120 Look, this industry is very hard. 1231 01:01:53,880 --> 01:01:57,080 Nowadays, retail QSR formats 1232 01:01:57,240 --> 01:01:58,960 or restaurant-type formats, 1233 01:01:59,040 --> 01:02:01,120 with many options under one roof, 1234 01:02:01,200 --> 01:02:02,800 are growing in India rapidly. 1235 01:02:02,920 --> 01:02:05,920 Can you open Nanighar outlets 1236 01:02:06,000 --> 01:02:09,760 that offer fresh, hygienic and trustworthy food 1237 01:02:09,960 --> 01:02:10,800 with the same cuisines? 1238 01:02:10,880 --> 01:02:13,000 If it can be opened in a restaurant format, 1239 01:02:13,160 --> 01:02:15,240 its opportunity would be disproportionate. 1240 01:02:15,680 --> 01:02:19,040 Whether you take the SOP or the menu from the home chefs 1241 01:02:19,120 --> 01:02:22,040 and then enable the restaurant, I do not know how you'll do it. 1242 01:02:22,240 --> 01:02:24,600 But since you're getting so many options, 1243 01:02:24,680 --> 01:02:26,080 my job is to give you one too. 1244 01:02:26,520 --> 01:02:27,680 I wish you all the very best. 1245 01:02:27,760 --> 01:02:29,800 - I'm out of this deal. - Thank you. 1246 01:02:29,880 --> 01:02:32,080 - All the best. - Good luck, Debjani and Arijit. 1247 01:02:32,080 --> 01:02:33,560 - Thank you so much, Sharks. - Thank you. 1248 01:02:33,560 --> 01:02:34,800 Thank you. 1249 01:02:35,080 --> 01:02:38,280 'How our vision and line of thought process' 1250 01:02:38,360 --> 01:02:40,760 need to be changed has become clear to us now. 1251 01:02:40,960 --> 01:02:42,840 And we are going to really kill it 1252 01:02:43,120 --> 01:02:45,880 with focus and with what we've learnt today. 1253 01:02:46,040 --> 01:02:49,680 Especially what Ritesh and Vineeta said, 1254 01:02:49,840 --> 01:02:52,080 we'll take Nanighar forward in that direction. 1255 01:02:52,440 --> 01:02:53,720 [solemn music playing] 1256 01:02:57,560 --> 01:03:00,080 - Team Nanighar, welcome. - Thank you. 1257 01:03:00,160 --> 01:03:02,800 How does it feel? Are your spirits still high? 1258 01:03:02,960 --> 01:03:03,960 - Yes. - Full on high. 1259 01:03:08,480 --> 01:03:10,080 I used to tell my grandma, 1260 01:03:10,200 --> 01:03:11,920 when I couldn't speak English properly, 1261 01:03:12,000 --> 01:03:13,360 "Grandma, you're the best cooker." 1262 01:03:13,440 --> 01:03:15,240 - She was the best cook. - [all laugh] 1263 01:03:15,440 --> 01:03:17,000 And I felt very nostalgic. 1264 01:03:17,080 --> 01:03:19,440 I'm always in Mumbai, I'm never home 1265 01:03:19,520 --> 01:03:22,080 - and I really crave home-cooked food. - Right. 1266 01:03:22,200 --> 01:03:24,480 I keep searching for home-cooked food. 1267 01:03:24,560 --> 01:03:26,200 Hopefully, you'll be getting it in Mumbai also. 1268 01:03:26,240 --> 01:03:27,040 - Really? - Yes. 1269 01:03:27,120 --> 01:03:29,840 I can't wait because I'm really looking for home-cooked food always. 1270 01:03:29,920 --> 01:03:32,240 So, thank you for actually taking that step. 1271 01:03:32,400 --> 01:03:34,560 I was really emotional throughout. 1272 01:03:34,760 --> 01:03:37,400 You feed people and bring a smile to their faces 1273 01:03:37,480 --> 01:03:39,640 and I know the Tank didn't go the way you wanted. 1274 01:03:39,720 --> 01:03:42,440 So, I ordered something for you from Swiggy Instamart 1275 01:03:42,560 --> 01:03:44,440 and luckily, it arrived in ten minutes. 1276 01:03:44,760 --> 01:03:45,760 Thank you, sir. 1277 01:03:46,200 --> 01:03:48,800 - These are some ice creams from me to you. - Oh, wow. 1278 01:03:48,840 --> 01:03:50,680 So, please cool down and relax. 1279 01:03:50,720 --> 01:03:53,160 - Enjoy some sweet treats on me. - Thank you. - Thank you so much. 1280 01:03:53,200 --> 01:03:56,440 Thank you so much. Give us some food if it's left. 1281 01:03:56,600 --> 01:03:58,640 - We have food. - It's left, for real. - What is it? 1282 01:03:58,680 --> 01:03:59,880 The crew is eating it already. 1283 01:04:00,000 --> 01:04:02,320 - I need to check. - 'Missi roti' is left. 1284 01:04:02,400 --> 01:04:04,160 Everyone is eating 'missi roti' and 'ker sangri'. 1285 01:04:04,200 --> 01:04:06,280 Guys, I need to try their food before it gets over. 1286 01:04:06,360 --> 01:04:09,160 Swiggy Instamart is at your service if you need to order something. 1287 01:04:09,240 --> 01:04:10,920 It'll come in ten minutes. Order now. 1288 01:04:11,080 --> 01:04:12,320 Come with me, both of you. 1289 01:04:12,400 --> 01:04:14,400 - You have to feed me. - Let's go. Yes, please. 1290 01:04:14,480 --> 01:04:17,360 Shark Tank India, co-presented by Acko Insurance, 1291 01:04:17,480 --> 01:04:19,560 PokerBaazi and Swiggy Instamart, 1292 01:04:19,640 --> 01:04:22,960 co-powered by Adani and Jaquar Bath and Light, partners 1293 01:04:23,040 --> 01:04:26,360 Rayzon Solar, ICICI Direct and Lenskart. 1294 01:04:26,560 --> 01:04:28,720 'Ask the Shark.' 1295 01:04:36,160 --> 01:04:37,960 For him, even the unknown breeds contempt. 1296 01:04:38,040 --> 01:04:40,840 We have with us the co-founder of Snapdeal 1297 01:04:40,920 --> 01:04:44,160 and Titan Capital and the promoter of Unicommerce eSolutions, 1298 01:04:44,240 --> 01:04:46,560 - Mr Kunal Bahl. How are you, sir? - I'm good, Aashish. 1299 01:04:46,640 --> 01:04:49,280 Sir, today's question is from Ragini Prajapati from Roorkee. 1300 01:04:49,360 --> 01:04:50,360 She is 34 years old. 1301 01:05:07,880 --> 01:05:09,280 I've been through many, too. 1302 01:05:14,840 --> 01:05:16,160 - Hmm. - Come what may! 1303 01:05:16,920 --> 01:05:18,720 Your question 1304 01:05:18,960 --> 01:05:21,040 about how to motivate your team. 1305 01:05:22,000 --> 01:05:23,080 There is only one answer to that. 1306 01:05:23,120 --> 01:05:27,840 Transparent, authentic and real-time communication. 1307 01:05:28,000 --> 01:05:29,280 When a company's situation 1308 01:05:29,440 --> 01:05:31,640 is critical, the team 1309 01:05:32,120 --> 01:05:35,360 often discovers it from outside 1310 01:05:35,600 --> 01:05:39,520 instead of within. 1311 01:05:39,760 --> 01:05:43,280 The company's leader, CEO, and founder 1312 01:05:43,520 --> 01:05:45,200 are responsible 1313 01:05:45,600 --> 01:05:49,000 for sharing the news with the team. 1314 01:05:49,080 --> 01:05:50,880 Be it good news, 1315 01:05:51,040 --> 01:05:53,200 bad news, or terrible news. 1316 01:05:53,560 --> 01:05:56,080 The team mustn't discover it from the outside. 1317 01:05:56,440 --> 01:05:58,520 - Only that can build trust. - Yes. 1318 01:05:58,800 --> 01:06:00,920 Our communications with our team 1319 01:06:01,440 --> 01:06:05,080 were always transparent, authentic and in real-time. 1320 01:06:06,080 --> 01:06:07,560 That is why 1321 01:06:07,640 --> 01:06:09,520 they stayed with us, 1322 01:06:09,600 --> 01:06:11,480 no matter the situation. 1323 01:06:11,560 --> 01:06:13,680 We fought tough situations 1324 01:06:13,800 --> 01:06:15,120 - together. - Yes. 1325 01:06:15,280 --> 01:06:18,600 That is why we could gain victory over every tough situation. 1326 01:06:18,680 --> 01:06:22,560 Sir, you're always aligned with a vision. But that might not 1327 01:06:22,760 --> 01:06:25,160 be the case with some members of your team. 1328 01:06:25,240 --> 01:06:26,320 They might only be a part of the team. 1329 01:06:26,320 --> 01:06:29,720 So, does it get tough to go ahead with them during tough situations? 1330 01:06:29,880 --> 01:06:34,160 A founder or CEO is responsible 1331 01:06:34,440 --> 01:06:37,080 for aligning everyone with their vision. 1332 01:06:37,280 --> 01:06:39,200 If 1333 01:07:13,280 --> 01:07:16,520 You and your company should have the same blood. 1334 01:07:16,760 --> 01:07:18,680 Got it. Thank you so much for the insight, sir. 1335 01:07:18,800 --> 01:07:21,600 See you at the next Ask the Shark with a new question and a new shark.