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28 Jan 2023
28 Jan 2023
Episodes 17 and 18 of Shark Tank India season 2 show the investment given by the sharks to the companies - Ekatra, Neomotion, and Licksters.
This blog highlights the willpower of founders who took efforts to build a brand identity in the market and their focus on their future goals and objectives which plays a significant role in taking them toward their dreams and helping them achieve more. It showed the goals and aspiration of the companies who comes with the hope to get investment from the Sharks for their company which will further help their company to achieve more and reach newer heights. It communicates the overall direction and purpose of the companies that got investment from the Sharks.
The blog shows the vision of Ekatra to be an omnipresent brand, and to build brand loyalty and customer equity on online platforms, and envision more store collaboration. It later throws light on the aim of the enthusiastic founders of NeoMotion who wished to bring dignity to disabled and old age people and to make them self-dependent. The founders of Licksters came up with different flavors of Ice-creams which included the most fruit concentration.
The founders conveyed that as a woman we underestimate our worth. They conveyed the life of women, who after completing studies is taught to become a good wife and a mother after marriage, but we are something more than that. One of the founders said that her mother is so talented, but she was unable to break the traditional thought of the cycle. They faced a tragedy once, which changed their whole life, then they thought that they will do some work for women empowerment. She broke the cycle by replacing her wedding dress with a business suit.
Ekatra is a sustainable artisanal brand for stationary and lifestyle products. Handmade products are classified in the very luxury and classified segment, they make the handmade affordable. Their brand is available across online marketplaces, and they also own their website, among which there are 5 global spaces. They have also collaborated with Pan India in 20+ retail stores. Within just 1.5 years of operation, they have worked with the companies like Netflix, and FabIndia. Around 80% of females in India do not have a stable source of income, which is the reason why all the products of Ekatra are made by women.
In FY 2019-20 they earned Rs. 90K, and Rs. 9 Lakhs in FY 2020-21. They earned Rs. 10.5 Lakhs in June 2022, and Rs. 10.4 Lakhs in the first quarter of FY 2022. Their online sales are 65% and 35% offline. Their net margin is 27% and their gross margin is 80%. Their 20% goes to COGS (Cost of Goods Sold), 16% goes to overheads and salaries, 25% to commissions, 12% to tax, and 27% to net margin. Their monthly marketing spent on Amazon ads is Rs. 10K to 15K. Their vision is to make Ekatra an omnipresent brand, and currently, they are willing to build brand loyalty and customer equity on online platforms. They wish to go into exports as the export market is very massive. They envision more store collaboration.
Rs. 40 Lakhs for 10% Equity, for Rs. 4 Crores valuation.
Rs. 20 Lakhs for 20% Equity, and Rs. 20 Lakhs Debt, for Rs. 1 Crores valuation.
Amit Jain & Peyush Bansal.
There are around 1.5 Crore people in India who need a wheelchair. They need the help of some people even for small work, and also have to listen to their taunt. To bring dignity to disabled and old age people, and to make them self-dependent, they have started NeoMotion. Their products include NeoFly which is a personalized wheelchair made on the body measurements of the user. The fastest wheelchair marathon in India has been done on NeoFly. They have made NeoBolt for outdoor mobility, which can be converted into a scooter after placing with a wheelchair without the help of any other person, and it is a very cheap mode to go out. They launched their products in 2020 and have distributed 2000+ wheelchair users across 32 states.
People can order their products from their website. They sponsor their products through the government, donors, and CSR (Corporate Social Responsibility). The NeoBolt is associated with the feature of a removable battery that can go for 25 km per charge. NeoFly and NeoBolt are two combinations that provide a comprehensive solution for indoor and outdoor. Their revenue in FY 2021-22 was Rs. 4.7 Cr, their profit after tax was Rs. 30 Lakhs, and they have booked an order of Rs. 13 Cr for the current year 2023. They get 65% of individual orders from the website, the rest 35% has been equally divided among the government and CSR which is 17.5%. The combined cost price of NeoFly and NeoBolt is Rs. 1.18 Lakhs and their selling price is Rs. 99,900. The MRP of NeoFly is Rs. 49,000 and its selling price is Rs. 42,900. They have got a grant from IIT Madras Incubation Cell of Rs. 44 Lakhs with equity diluted 6.5%
Rs. 1 Crores for 1% Equity, for Rs. 100 Crores valuation.
Rs. 50 Lakhs for 4% Equity, and Rs. 50 Lakhs Debt, for Rs. 12.5 Crores valuation.
Rs. 1 Crore for 5% Equity, for Rs. 20 Crores valuation.
Condition - Peyush Bansal will receive 5% of profits till he receives 1 Crore which he donated.
Rs. 1 Crore for 5% Equity, for Rs. 20 Crores valuation.
Rs. 1 Lakh for 1% Equity, and Rs. 99 Lakhs Debt at 15% Interest, for Rs. 1 Crore valuation.
Rs. 1 Crore for 2.5% Equity, for Rs. 40 Crores valuation.
Rs. 1 Crore for 1% Equity, for Rs. 100 Crores valuation.
Condition - Peyush Bansal will receive 5% of profits till he receives 1 Crore which he donated.
They asked the sharks that would they like to accept a no Sugar no dairy challenge with them. For this, they could neither have any Sugar products nor any dairy products for 100 days. They asked the sharks to imagine if they cannot have Lemon juice, Milkshakes, chips, and Ice-creams for 100 days in the very high temperature of Nagpur. The founders accepted such kind of challenge some days ago and made the fruits their best friend. They purchased their favorite Ice-cream from the nearest Ice-cream parlor after completing this challenge, but in the first byte, they got the taste of chemicals and not of fruits. Then they decided to make an Ice-cream by which the people will get a feel of having fruits. They decided to make something unique, which started Licksters.
Licksters is the first freemium popsicle and Ice-cream brand in India which includes the most fruit concentration. It is one popsicle that includes more than 80% fruits and is excluded from artificial colors and chemicals. Its categories include Vegan fruit Bars, Greek Yogurt Bars, and Ice-Cream Bars. They also make freemium Ice-creams and shakes. They are available with many innovative flavors and sugar-free options. They started with 6 flavors and currently, they have 30+ flavors. Their promise is to provide 100% pure fruit Ice-creams and wish to occupy a place in the Heart and Refrigerators of everyone. Their sales in FY 2019-20 were Rs. 9 Lakhs, Rs. 16 Lakhs in FY 2020-21, Rs. 65 Lakhs in FY 2021-22, and Rs. 86 Lakhs in FY 2022-23 to date. Their projection sales for FY 2022-23 is Rs. 2 Cr. The gross margin from their own stores is 70% - 72% and get 50% from franchisees. The net margin from their own stores is 40% and 22% - 23%. They also work with Zomato, and Swiggy along with their own store.
Rs. 50 Lakhs for 5% Equity, for Rs. 10 Crores valuation.
Rs. 25 Lakhs for 5% Equity, and Rs. 25 Lakhs Debt, for Rs. 5 Crores valuation.
Amit Jain.
[The images are being taken from the registered companies and belong to their respective owners only.]
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