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9 Jan 2023
9 Jan 2023
Shark Tank India is the Indian version of Shark Tank. It is the Indian franchise of the American show Shark Tank. The show became very famous in very few days in India, which provides a platform to many entrepreneurs. It also provides opportunities to the new entrepreneurs who come with exceptional ideas, and a hope to escalate their business with the help of Sharks of the show.
The Sharks/Judes, see the whole idea of the entrepreneurs and give them an offer if they find hope in their business and productivity in their business. The entrepreneurs explain their business and its model, target customers, and try to convince the judges/Sharks by telling their yearly turnover and future hopes associated with the business. The Shark Tank India is produced by Studio NEXT and is telecasted on Sony Entertainment Television Channel. Anupam Mittal, Vineeta Singh, Peyush Bansal, Namita Thapar, and Aman Gupta are the judges/sharks in Shark Tank India. This blog shows the investments given to the companies that came in the first and second episodes of the show.
The story of Hoovu started a long time ago - both Yashoda and Rhea grew up on floriculture farms, hearing about harvest cycles, auction prices, and freight rates. The name Hoovu is a Kannada word that signifies flower. It signifies some traditional flowers, such as Marigold, Jasmine, and Rose flowers, without which the worship is incomplete. It highlighted that the way of worship might be different but the purity, beauty, and essence are the same. To get such a beautiful experience, one needs to take a lot of care in order to get beautiful flowers.
There was no company in India for flowers due to freshness, as these flowers get withered. They have brought the solution for the freshness of flowers with Hoovu Fresh. With the help of their in-house technique and machinery, they have increased the shelf life of flowers from 2 days to 15 days, and have reduced the wastage from 40% to 2-3% by controlling the moisture and bacteria.
Till now they are present in about 8 cities and have got more than 2 Million orders, and are associated with 300 Temples and 500 farmers. A flower is the only thing that is given to God and not asked for in return. Their vision is simple, which says that -Engaging Hoovu in every worship, and giving 10 minutes of relief. They mainly sell on Big Basket, Zepto, and Blinkit. They supply to Temples, for decoration purposes as well. They sell with an average sale of Rs. 60 Lakhs to Rs. 65 Lakhs.
They have offered 1% of the stake of their company for Rs. 80 Lakhs.
1) Rs. 40 Lakhs for 4% Equity, Rs. 40 Lakhs Debt for 12% Interest. Rs. 10 Crore valuation, based on Rs. 5 Crore sales.
2) Rs. 50 Lakhs for 1% Equity, and Rs. 30 Lakhs Debt for 12% Interest, based on Rs. 50 Crores valuation.
Rs. 1 Crore for 2% Equity, for Rs. 50 Crore valuation.
Aman Gupta and Piyush Bansal.
Dorje began as a conversation between friends about the decaying Darjeeling Tea industry, immediately after the lockdown last year. Darjeeling is made from two words - Dorje i.e. thunder and ling i.e. land. Dorje Teas is the story of Tea that is grown in this region. The taste, color, and fragrance of Tea change with the seasons. Due to this change of taste, people have associated themselves with the taste. There are around 10,000 Tea garden in India, but only 87 have been given the status of Darjeeling. But most of these gardens are making a loss heavily.
The Darjeeling Tea business has always been an export business, but this traditional business has gotten a hard hit. Darjeeling is recognized as a place of Tea. They have got great attachment and memories to the Tea gardens and the people, and thus to maintain those great memories we came up with Dorje. Dorje Teas provides Tea through a subscription mode, and all these certified organic Tea is plucked, packed, and dispatched from the Selim Hill Tea Garden.
India has a Tea market of Rs. 1.2 Lakh Crores, among which Darjeeling Tea market is about 1 percent. Their vision for the next five years is to have more than 2 to 3 lakh subscribers. They have an annual subscription of around Rs. 2100 per year. They have 75% gross margins.
Rs. 30 Lakhs for 5% Equity, with a valuation of Rs. 6 Crores.
Rs. 30 lakhs for 10% Equity for Rs. 3 Crores valuation.
Rs. 30 lakhs for 15% Equity for 2 Crores valuation.
Anupam Mittal, Vineeta Singh, Peyush Bansal
They conveyed the story which is 2000 years old story. It is the story of Paithani - the queen of silks, the heritage of India, the pride of Maharashtra. It is an emotion, which is gifted by a mother to her daughter, and mother-in-law to her daughter-in-law. It used to be the pride of kings when they used to win the war.
Many of people are not aware of the Paithani weaves. The market for sarees is Rs. 38,000 Crores, but still it is scattered and unorganized. There is no brand that is reviving the heritage sarees, and they have basically identified this gap, and come up with the - Very Much India. The brand brings authentic handloom, and traditionally woven sarees, and is provided directly from the manufacturers to the customers. They have revived many other weaves as well along with the Paithani weaves. Their vision is to make the brand the most trusted traditional brand of India.
At Very Much Indian they strive to bring sarees from across India, sourcing it directly from the weavers right to your doorstep. Right from the exquisite Pure silks, Cotton, Cotton Silks, Linen, and Paithani to Banarasi, Kota, Kalamkari, Maheshwari, Chanderi, Bandhani, Kanjeevaram, name it and they have them all.
Rs. 50 Lakhs for 3% Equity, with a valuation of Rs. 16.67 Crores.
Rs. 50 Lakhs for 10% Equity, for a valuation of Rs. 5 Crores.
Rs. 75 Lakhs for 10% Equity, for the valuation of Rs. 7.5 Crores.
Aman Gupta and Namita Thapar.
He conveyed that the company makes smartwatches for children which are associated with safety, connectivity, and curiosity. It has a GPS tracker by which one can see the location of children. The second feature of connectivity will make the parents and child connected through the source video calls and audio calls.
The third feature curiosity is provided through the association of an inbuilt object detection scanner, by which the children can scan the object by having fun learning and getting its information. This watch can be associated with a sim card. It is an independent device, which can work without a phone. This product was launched at the beginning of the year 2022, and till now more than 300 parents and their children are using its products. Their vision is to provide a device that will not only make the children smart, but also safe.
They also have a smartwatch for senior citizens which is associated with an anti-fall alarm, when they fall then it will send a notification, so to reach out. It can give you a call as well. It has a selling price of Rs. 10,000 in the market currently as it gives safety and connectivity. It is also associated with a call-forbidden feature that will not allow children to call, and only parents can make a call. Besides this, it also has a feature that will allow the children in this mode to make a call in an emergency.
Rs. 2 Crores for 5% Equity, for Rs. 40 Crores valuation.
Rs. 1 Crores for 10% Equity and Rs. 1 Crore Debt for 15% Interest, for Rs. 10 Crores valuation.
1) Rs. 1 Crore for 5% Equity & Rs. 1 Crore Debt for 15% Interest, for Rs. 20 Crores valuation.
2) Rs. 1 Crore for 7.5% Equity & Rs. 1 Crore Debt for 15% Interest, for Rs. 13.33 Crores valuation.
Anupam Mittal & Vineeta Singh.
The founders conveyed that the during pandemic people realized that they must change their lifestyles to stay healthy and fit. But it is difficult to achieve. The people join different kinds of classes and follow expensive diets, which reduces their bank balance.
To solve this problem they have made SoupX, which is the first personalized, healthy, soup-based meal brand in India that makes healthy soups to replace meals based on your fitness goals. They offer freshly prepared calorie counting and no artificial preservatives soups which are prepared by our chefs and nutritionists precisely. SoupX started in December 2021 after the market testing of 5 months. Today the company is available with 99+ varieties of healthy soups.
The customers can order it on-demand or can either take a subscription. Their vision is to make SoupX the biggest healthy soup-based meal brand in India. They have 70-75% Gross margin, and they give 20-25% commission to Zomato and Swiggy, then after that, they get 45-50% gross margin. They get 85% from Swiggy and Zomato, and 15% from subscription and co-branding.
Rs. 75 Lakhs for 6% Equity for a valuation of Rs. 12.5 Crores.
Rs. 50 Lakhs for 20% Equity and Rs. 25 Lakhs Debt at 12% Interest for an Rs. 2.5 Crores valuation.
Rs. 50 Lakhs for 18% Equity and Rs. 25 Lakhs Debt at 12% Interest for an Rs. 2.5 Crores valuation.
Counter Offer of Priyank Jain & Uttam Kumar.
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