This is shark tank India episode number 19. In this episode of shark tank India Ethik- a premium non-leather brand, Brainwired-a health monitoring device for cows, Keto India- a personalised diet plan app and MagicLock- an LPG safety lock will be pitching their business ideas.
1. Ethik
- Owners: Pankaj Khabiya is 34 years old and founder. Bharat Ranka is 31 years old and co-founder. They hail from Bangalore.
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About Ethik
It is India’s premium non leather brand that is bringing revolution in India by producing non leather products. Using science and technology, a kind of fabric is produced in the lab that feels and looks just like leather. These types of cruelty free, PETA approved fabric are used to Ethik products that are completely vegan. They started their business in 2012 and want to gain leadership in men’s fashion. Their vision is to make a product that looks like leather, has attributes of leather but is not made of animal skin.
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Ethik Gross Profit and Sales
The company’s valuation is 3 cr. The price of one pair of shoes is 4.5k. Bharat invested 95 lakhs in their established private limited company and acquired 60% ownership of the company. From 2013 to 2018 they did sales of 80 lakhs from stores. From 2019 they had sales of 25 lakhs in 24 months.
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Asks by the pitchers Ethik
Pitchers approach with a ask of 15 lakhs for 5% equity.
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Final offer for Ethik
All the shark tank india judges i.e. sharks stepped out and no final deal was done.
2. Brainwired
- Owners: Romeo P Jerard and Sreeshankar S Nair both are electronics engineers and they have known each other for 7 years.
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About Brainwired
Brainwired is a IoT-Internet of Things device which is attached with the ear of a cow which helps in monitoring the health issues of a cow. All the datas and feedback are received in phones through the app they have.This is basically a health monitoring device for cows.The device is also powered by artificial intelligence and Machine Learning.The company aims to reach every farmer who has livestock in their farm.
The product package comes with three different items:
- WeSTOCK ear tag
- WeSTOCK Applicator
- WeSTOCK Reader having inbuilt weather station.
The ear tag pushes all the information to reader and reader to cloud.The machine learning algorithms analyse the datas and show the results on the app.
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Brainwired Gross Profit and Sales
The valuation of the company is 10 crores rupees.In the first round in 2020, they raised a value of 2.25 crores rupees and the profit was about 27 lakhs.The second valuation 4 months back was about 5.5 crore rupees and profit is 50 lakhs rupees. The company has a team of 9 members. They have collaborated with tech mahindra, Godrej Maxximilk pvt. Ltd. In recent years they have received orders from the Maharashtra government for 400 cattles and a project of the Indian Government for 25 lakhs rupees.
The company started their sales in the month of september 2021.The selling price of hardware can generate 54 lakhs rupees in a year till now and monthly they can generate a sales of 6.7 lakhs per month.The avg. The cost of making a tag is 1200 rupees and the reader is about 3000 rupees.The average price abroad is nearly about Rs.11k -22k. The selling price of their tag is about 1500 abroad.Their focus is to reach globally in countries like Australia.
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Asks by the Pitchers of Brainwired
Pitchers approach with a ask of 50 lakhs in return for 5% equity in the company.
Exclusive Interview With Founder Of Brainwire:
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Counter Offers for Brainwired
Anupam mittal backed off himself because he has already invested in a cattle farm technology company. Ashneer,Aman and Namita counters offer for 50 lakhs rupees in return for 9% equity in the company. Peyush said that if the other three sharks wanted him to join he would join. If not then he can come alone with the same offer.
Pitcher counters offered for 75 lakhs rupees in return for 10% equity in the company and wanted four of the sharks to join them. The four sharks jointly counter offer for 60 lakhs in return for 10% equity in the company.
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Final Offer for Brainwired
The final deal was done by the four sharks for 60 lakhs rupees in return for 10% equity.
3. Keto India
- Owners: Sahil Pruthi is the founder. Prabhas Gupta is his advisor and works closely with him in this.
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About Keto India
In Spite of Being an engineer and product manager, Sahil took great interest in healthcare after his mother’s surgery. He found that conditions like type 2 diabetes, PCOS, hypothyroidism and obesity can be reversed using personalised nutrition, supplementation and clinical trials. Then he started Keto India. He explained how they provide personalised nutrition through their website and monitor their patients. They are a profitable company and have consulted 3100 clients from 16 states and 25 countries across the world. Livofy is their subdomain. Their business model is the subscription model. They have few soft interests from UK investors and high network individuals.
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Keto India Gross Profit and Sales
The company’s valuation is 120 cr. In India the cost for a one month plan is 4500, 9k for 3 months and 15k for 6 months and 25k for 12 months. Outside India the pricing is 6k for 1 month, 12 k for 3 months, 20k for 6 months and 35k for 12 months. Till now, their revenue is 2.10 cr. And last month revenue was 15 lakhs. Their Monthly Active Users is 45k.
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Ask by the pitchers of Keto India
Pitchers approach with a ask of 1.5 cr for 1.25 % equity.
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Counter Offers for Keto India
Namita Thapar, Ashneer Grover, Aman Gupta and Peyush Bansal give a joint offer of 1.6 cr at 16% equity
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Final offer for Keto India
All the sharks stepped out From the deaL and no final deal was done.
4. MagicLock
- Owners: Tejas shah, Zubin Dhananjay Bhatt, Dhananjay Bhatt.
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About MagicLock
This company manufactures a small valve structure which helps in detection of any leakage of gas from cylinders and cuts off the connection immediately.There are 45000 crore connections of LPG gas cylinders all over the country.The blast of gas cylinders is a very common incident in day to day life.So they have invented this small valve like structure and want to reach all over the country helping to fight this serious issue. They have a patent for this device.In a year around 700-800 gas leakage happens.In coming days the company looks forward to tie up with the government to install this device inside the gas pipes.
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MagicLock Gross Profit and Sales
The valuation of the company is 15 crore.The company works with a B2B model and has generated a revenue of 14 lakhs.They have sold around 85k pieces devices and in a day they sell 4k pieces.The B2B price is 70 rupees and B2C price is 499 rupees.The making cost of this product is Rs. 10.
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Asks by the pitchers of MagicLock
Pitchers approach with a ask of 1.2 cr for 8% equity of the company.
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Counter Offer for MagicLock
Ashneer backed off as he was not interested in the product. Aman also backed off himself. Namita,Anupam,Peyush put themselves away from a deal with the pitchers.
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Final offer for MagicLock
No offer was finalised by the sharks with the pitchers.
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Shark Lesson of the Day
Shark Aman Gupta gave a message to young entrepreneurs, “Better try than cry ‘‘. One should not regret afterwards for not trying. If you try something, you may fail, learn lessons or you may succeed and the company grows. But trying always gives lessons in life.
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