Hello readers! It is time for part -2 of our article on Shark Tank India Season 2 where we will be talking about the businesses that appeared in the second season of Shark Tank India. We will not only talk about the businesses that appeared on Shark Tank Season 2 but we will also put some light on the deals these entrepreneurs got and the learnings that we got. In this article, we will be talking about the following contestants that came on the show. Let us read about them one by one.
1. TeaFit
Entrepreneur- Jyoti Bharadwaj
Product- Unsweetened beverage brand brewed with green tea, black tea, and hand-toasted barley.
Offer-INR 50 Lakhs for 3% equity.
Valuation- INR 16.67% Cr.
Pitch and negotiation- The product was very good as it had zero calories, and zero sweeteners however, the price of the drink was high. Due to a lack of expertise, Namita didn’t invest in the business. But Jyoti had clarity about how she will move forward after the investment therefore the remaining four sharks offered to invest in the business. Vineeta and Anupam offered INR 50 lakhs for 25% equity, Peyush offered the same amount for 20% equity and Aman offered the same amount for 10% equity. Jyoti gave a counteroffer of INR 50 lakhs for 8% equity with all four sharks coming.
Final Deal- INR 50 lakhs for 8% equity by Peyush, Aman, Vineeta, and Anupam.
CONVERTIBLE NOTE: A debt given to early-stage start-ups when their valuation is difficult to be determined. When the start-up reaches a stage when its valuation can be ascertained, then investors can convert this debt into equity.
2. Haqdarshak
Entrepreneur- Aniket Doegar
Product- Mobile/web platform that enlightens people about all government schemes with agents that help them with all documentation for that scheme.
Offer- INR 1 Cr for 0.5% equity.
Valuation- INR 200 Cr.
Pitch and Negotiation- It was a B2B business that had a very low margin. Due to the high valuation, Anupam and Vineeta opted out of investing in this business. However, Aniket was able to convince the other three sharks through his clarity about the business, Peyush offered INR 1Cr for 2% equity. Aman and Namita offered INR 50 lakhs for 1% equity and the remaining INR 50 lakhs as debt at an interest rate of 10%. Aniket gave a counteroffer of INR 1 Cr for 1.5% for the three sharks. Sharks gave a counteroffer of the same amount but for 2% equity.
Final Deal- of INR 1 Cr for 1.5% equity by Peyush, Vineeta, Anupam, and Aman.
SKIMMING STRATEGY: A pricing strategy in which the entrepreneur sets a high price for a new product and then lowers it as the competitors enter the market.
3. Bhaskar’s Puranpoli
Entrepreneurs- Vittal Shetty, Saurabh Choudhary, and Bhaskar KR
Product- Puranpoli and other different snacks served by live and quick service restaurants.
Offer- INR 75 lakhs for 1% equity.
Valuation- INR 75 Cr
Pitch and negotiation- Mr. Bhaskar was running a similar profitable business in Karnataka. The team just wanted to replicate the same in Maharashtra. The other two founders had other businesses also which made things complicated and can lead to situations of conflict of interest due to which Vineeta and Anupam didn’t invest in this business. Due to the high valuation, Peyush didn’t invest in the business. Sighting scalability as an issue, Namita didn’t invest in this business. Since the founders were not “all in” in the business, he also didn’t offer to invest in the business.
Final Deal- No offers.
Read the article Shark Tank India Season 2 – All businesses to read about the companies and their products that came in the first week of the show.
4. Gunjan Apps Studio
Entrepreneurs- Sourav Gupta and Gunjan Gupta
Product- 40+ apps that gamify kids learning for the age group of 1.5 years to 12 years.
Offer- INR 2.5 Cr for 1% equity.
Valuation- INR 250 Cr.
Pitch and negotiation- According to Anupam, these apps/modules were copied from other similar apps like Kidopia, Appy store, and ABC mouse. Currently, the business was making INR 20 Crores revenue which was mainly through ads. However, the revenue was showing a downward trend as they have been shifting from ads-based revenue to a subscription model due to regulations. The team didn’t set the valuation right and was not able to answer questions regarding the competition. Due to these reasons, no shark offered any deal.
Final Deal- No offers.
5. The Simply Salad
Entrepreneurs- Payal Pathak and Sohan Payal Pathak
Product- Different types of salad through cloud kitchen.
Offer- INR 30 lakhs for 10% equity
Valuation- INR 3 Cr.
Pitch and negotiation- The product was good in taste and affordable for the weekly and monthly subscriptions. The net margin of 47% impressed all the sharks. Namita, Anupam, and Peyush didn’t invest in the business. Vineeta and Aman together gave an offer of INR 30 lakhs for 10% equity.
Final Deal- INR 30 lakhs for 10% equity by Vineeta and Aman.
6. Ayusynk
Entrepreneurs- Adarsh Kachappilly, Tapas Pandey, and Varad Patil
Product- Upgraded stethoscope that can cancel background noise, digitize heartbeat and can live stream data.
Offer- INR 1 Cr for 1.5% equity
Valuation- INR 66.67 Cr.
Pitch and negotiation- Since this was a B2B business pitch Vineeta didn’t invest in the business. The product was highly priced due to which Aman didn’t invest in the business. Anupam believed that doctors are resistant to changes and the market size is small therefore he didn’t invest in the business. Peyush offered INR 50 lakhs for 5% equity and INR 50 lakhs as debt at an interest rate of 12%. He also offered Namita to join his offer, however, Namita insisted on going solo in this deal as she needed high stakes in the business. She offered to invest INR 50 lakhs for 4% equity and INR 50 lakhs at an interest rate of 10%. The team offered a counteroffer for the same amount but for 3.5% equity.
Final Deal- INR 50 lakhs for 3.5% equity and INR 50 lakhs as debt at a 10% interest rate by Namita.
7. Atypical Advantage
Entrepreneur- Vineet Saraiwala
Product- Platform for specially-abled people to find jobs.
Offer- INR 30 Lakhs for 1% equity
Valuation- INR 30 Cr.
Pitch and negotiation- The platform was doing a splendid job for the community as it was providing support even after the placement of the user in a company. Anupam, Namita, and Aman offered to invest INR 30 lakhs for 4.29% at INR 7 Cr valuation. Peyush wanted high stakes in the business to work actively and hence offered to invest INR 1 Cr for 12% equity. Vineet gave a counteroffer of INR 1.2 Cr for 10% equity for all four sharks. Anupam agreed for all four sharks with Anupam and Peyush giving INR 45 Lakhs each while Aman and Namita giving INR 15 lakhs each. However, Peyush wanted to go solo because Vineet already had too many advisors. There was a tussle between Peyush and Anupam due to which they both opted out of this investment. Namita and Aman then offered INR 30 lakhs for 3% equity.
Final Deal- INR 30 lakhs for 3% equity by Namita and Aman
8. House of Chikankari
Entrepreneurs- Aakriti Rawal and Poonam Rawal
Product- Chikankari clothing
Offer- INR 75 lakhs for 1% equity.
Valuation- INR 75 Cr.
Pitch and negotiation- The projected sale was INR 15 Cr with a 15% net margin and that too without any external investment was really impressive. Aman offered INR 75 lakhs for 5% equity. Namita opted out of investing in this business because Aman wanted to go solo. Vineeta and Anupam offered INR 75 lakhs for 6% equity. Peyush offered INR 75 lakhs for 5% equity and then Aman offered to join Peyush in this investment. The team gave a counteroffer of 2% equity for the same amount. Both pairs of sharks gave a counteroffer of 4% equity for the same amount. The team again countered with 3% equity for Peyush and Aman. The shark then again countered with 3.75% equity.
Final Deal- INR 75 lakhs for 3.75% equity by Peyush and Aman.
9. Magic of Memories
Entrepreneur- Preety Maggo
Product- DNA jewelry
Offer- INR 25 Lakhs for 5% equity
Valuation- INR 5 Cr
Pitch and negotiation- There were certain issues like scalability, early stage, and non-relatability with this business due to which sharks didn’t invest in the business.
Final Deal- No offers.
10. Paradyes
Entrepreneurs- Siddharth Raghuvanshi and Yushika Jolly
Product- Semi-permanent hair dyes
Offer- INR 65 lakhs for 1% equity
Valuation- INR 65 Cr
Pitch and negotiation- All the factors that the sharks look for in a business for good investment were fulfilled by this team. Packaging, revenue (INR 55 lakhs in last month), factory, logistics, EBITDA of 22%, and raw material sourcing were impressive. Peyush offered INR 65 lakhs for 5% equity. Due to a lack of expertise, Namita didn’t invest in this business. Vineeta and Anupam offered the same amount for 4% equity. Aman gave the same offer as that of Peyush. The team gave a counteroffer of 3% equity for the same amount. All the sharks matched the counter offer but the team wanted Vineeta and Aman only. Peyush offered the same amount for 2% equity and then decreased it to 1% equity. However, the team was adamant to have Vineeta and Aman and gave a counteroffer to them for 2% equity. The negotiation and tussle between the sharks for this deal was one of the best in Shark Tank India Season 2.
Final Deal- INR 65 Cr for 2% equity by Aman and Vineeta.
Read our article Shark tank India Season 1 – All Businesses to read about the companies and their products that appeared in the first season of the show.
11. Nestroots
Entrepreneur- Chhavi Singh
Product- Home décor, kitchen furnishing, etc.
Offer- INR 50 Lakhs for 1% equity
Valuation- INR 50 Cr.
Pitch and negotiation- The product design and pricing were spot on. However, even after being present in the market for more than 3 years, the sharks didn’t hear about this business. The profit margin (17%-19%) was pretty good. Vineeta has already invested in some other company with a similar range of products due to which she was unable to invest in this company. Namita offered INR 50 lakhs but for 2% equity. Anupam due to the competitive market didn’t invest in this company. Because of a good offer already given by Namita, Aman didn’t invest in the company. Peyush wanted more equity (5%) for INR 50 lakhs.
Final Deal- INR 50 lakhs for 2% equity by Namita.
12. Zillionaire
Entrepreneurs- Aaditya Fatehpuriya and Raghav Goyal.
Product- Jewellery for millennials.
Offer- INR 50 lakhs for 3.33% equity.
Valuation- INR 15.2 Cr.
Pitch and negotiation- The Company’s production part was supported by Aaditya’s dad’s factory due to which they were not able to answer the questions related to the technicalities of the production. However, the product quality and the design were impressive. The revenue generated in the first 7 months of the current financial year was INR 1 Cr which impressed the sharks. Due to high-priced products, the target customers were low because of this Namita didn’t invest in this company. Anupam offered INR 1 Cr for 10% equity. Peyush, Namita, and Aman offered INR 50 lakhs for 10% equity.
Final Deal- INR 1 Cr for 10% equity by Anupam.
ROAS – Return On Advertising Spend. For example, if a person spends INR 100 on advertising and this advertising generates a revenue of INR 500 then the ROAS would be 5.
13. Credmate
Entrepreneurs- Gaurav Kundra and Gaurav Sharma
Product- Platform to lend and borrow money
Offer- INR 50 Lakhs for 5% equity.
Valuation- INR 10 Cr.
Pitch and negotiation- There were questions about the current user base, number of transactions, user profile, etc. which the team was not able to answer. The app was still unregulated which was also a concern of all the sharks. The business was in a very early stage and the team lacked clarity about how they were going to move forward. Due to these reasons none of the sharks offered to invest in the company.
Final Deal- No offers.
14. Free bowler
Entrepreneurs- Pratheek Palanethra and Vishwanath HK
Product- Bowling machine both mechanical and battery operated.
Offer- INR 75 Lakhs for 7.5% equity.
Valuation- INR 10 Cr.
Pitch and negotiation- The mechanical machine looked rudimentary during the demo and the battery-powered machine was still to be offered in the market. The team was not able to answer questions related to the current market size. The product cost was also high. Due to these reasons Anupam, Aman, Vineeta, and Peyush didn’t invest in this company. Namita offered INR 50 lakhs but for 15% equity and INR 25 lakhs debt at an interest rate of 10%. The team gave a counteroffer of 10% equity with the same amount. They then revised their counter offer to INR 25 lakhs for 7.5% equity and INR 50 lakhs as debt at an interest rate of 10%.
Final Deal- INR 25 lakhs for 7.5% equity and INR 50 lakhs as debt at an interest rate of 10% by Namita.
15. ABC Fitness Firm
Entrepreneurs- Anirudh Anil Pole and Pole Roshan Bhaskar
Product- A fitness program for kids of 4-16 years age group.
Offer-INR 40 Lakhs for 2% equity.
Valuation- INR 20.0 Cr.
Pitch and negotiation- The business was profitable but linearly and not exponentially. The company was only present in Pune and has not tried in any other city, therefore, it was felt that the business is yet to face unidentified problems. Due to these issues, Vineeta, Aman, and Anupam didn’t invest in the company. Peyush offered INR 40 lakhs for 10% equity. The team gave a counteroffer of 6% equity for the same amount.
Final Deal- INR 40 lakhs for 10% equity by Peyush.
16. Primebook
Entrepreneur- Aman Verma, Pankaj Rawat, Umang Leekha, and Chitranshu Mahant.
Product- Android laptop with its own operating system Prime OS.
Offer- INR 75 lakhs for 1.5% equity.
Valuation- INR 50 Cr.
Pitch and Negotiation- The team had clarity about the future plans and expansion strategy. The company had its working capital sorted through existing investors. Aman offered INR 75 lakhs for 4% equity. Vineeta, Peyush, and Anupam also offered the same amount for 3%, 4%, and 3% equity respectively. Namita didn’t invest in the company because of the high price of the product. The team gave a counteroffer of 2.5% equity. Both Peyush and Aman agreed to the counter offer to which the team asked both of them to invest together. Then Peyush and Aman said that for them to invest together, they will take 3% equity.
Final Deal- of INR 75 lakhs for 3% equity by Peyush and Aman.
17. Daily Dump
Entrepreneurs- Poonam Bir Kasturi and Arjun Dev
Product- They design and develop composters for homes.
Offer- INR 80 lakhs for 4% equity.
Valuation- INR 20 Cr
Pitch and negotiation- The price of the product was high which may result in scalability issues. According to Peyush, the team should make the bin affordable and the powder can be priced high. Due to these reasons, all the sharks except Namita opted out of investing in this company. Namita offered INR 30 lakhs for 5% equity and INR 50 lakhs at a 10% interest rate. The team gave a counteroffer of INR 50 lakhs for 5% equity and INR 30 lakhs at a 10% interest rate. They then revised the offer to INR 30 lakhs for 3% equity and INR 50 lakhs at a 10% interest rate. Namita revised her offer to INR 30 lakhs for 4% equity and INR 50 lakhs at a 10% interest rate.
Final Deal- INR 30 lakhs for 4% equity and INR 50 lakhs as debt at an interest rate of 10% by Namita.
18. Gharsoaps
Entrepreneurs- Sayyam Jain and Sunny Jain
Product- A skincare brand with products free from active chemicals and with Ayurvedic ingredients.
Offer- INR 60 lakhs for 2% equity.
Valuation- INR 30 Cr.
Pitch and negotiation- The product and packaging were good. Due to a conflict of interest, Namita couldn’t invest in the business. Amit didn’t invest because the team lacked clarity about the product composition. Peyush and Anupam offered INR 60 lakhs for 10% equity. Aman also gave the same offer. The team gave a counteroffer of INR 1 Crore for 5% equity. Aman then revised his offer to INR 60 lakhs for 4% equity. Anupam and Peyush also matched Aman’s offer.
Final Deal- INR 60 lakhs for 4% equity by Aman.
19. Janitri
Entrepreneurs- Arun Agarwal
Product- Wearable and AI-enabled devices to monitor the vitals of the mother and unborn baby.
Offer- INR 1 Cr for 2.5% equity
Valuation- INR 40 Cr.
Pitch and negotiation- The company generated revenue of INR 1.03 Cr in years 21-22. Since the product was related to the medical field, Aman and Anupam opted out of investing in this business. Namita offered INR 60 lakhs for 2% equity and INR 40 lakhs as debt. Amit and Peyush offered INR 1 Cr for 2.5% equity on the condition that next year’s revenue should reach INR 20 Crore otherwise they will get extra 2.5% equity. Namita also matched this offer.
Final Deal- INR 1 Crore for 2.5% equity on condition that next year’s revenue should reach INR 20 Crore otherwise Namita will get extra 2.5% equity.
PRESERIES-A ROUND OF INVESTMENT: Early stage round of investment between seed round and series A round when the product seems market fit but the company has not been established in the market yet.
20. Jaipur Watch Company
Entrepreneur- Gaurav Mehta
Product- Micro-luxury watch brand
Offer- INR 50 Lakhs for 2% equity
Valuation- INR 25 Cr.
Pitch and negotiation- The Company generated revenue of INR 1.07 Cr in the year 21-22 with a 25% net margin. Due to issues with the branding of the company, scalability of the business, and lack of strategic clarity, none of the sharks offered to invest.
Final Deal- No offer
So, readers, this was the list of businesses with their products that appeared in the Shark Tank India Season 2 and the deals they got from sharks. We hope you liked the article. Feel free to share it with your peers. Stay tuned for the next part where we will cover the last lot of businesses. Follow us on Instagram (wealth_drift) for valuable and easy-to-implement tips on personal finance. Do subscribe to us for new reads.
