Shark Tank Tipayi
In this episode of Shark Tank India Tipayi, a unique bike manufacturing company for toddlers presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till the end.
| Company name | Tipayi |
| Founders | Prem Kale |
| Ask | ₹50 lakhs for 10% equity |
Buy Now Tipayi Bicycle On Amazon
Tipayi Founder
Prem Kale is the founder of the company and he is from Pune. He was really fond of manufacturing things from his childhood. He used his innovation skill for business skills and made Tipayi cycles at the age of 16. He left his education after 10th standard. He did many short courses. He did much research and came across the concept of a balance bike.
About the company Tipayi
Children initially fall off the cycle, but eventually, learn to write a cycle. Parents make their children dependent on the side wheels of the cycle as a result they learn to balance quite late. Tipayi is a wooden balance bike without pedals and brakes. This product addresses many challenges for children. Its features are:
- They learn to balance at the very first day of riding Tipayi.
- The target age group is 1 to 5 years
- The product is patented and made in India.
- Tipayi bikes are all weather resistant and are made up of sustainable wood and premium components.
- This helps to improve the core motor skills, muscle development, and confidence among the children
Currently, the product is delivered through online and offline mode pan India and exported to the US. Their lifetime sales is 700 bikes. The company was started in May 2019. The majority of the business comes from B2B. They outsourced the raw materials and assembled the products in-house. They provide 3 stages for the cycle.
Ask the Owner Tipayi
The owner made an ask of ₹50 lacs for 10% equity of the company at the valuation of ₹5 crores.
Tipayi Sales And Revenue
Sales in FY 19 to 20 were ₹50000, in FY 20 to 21 it was ₹3 lakhs, and in FY 21 to 22 it was 21 lakhs. Lifetime sales is 26.5 lakhs. Last month’s sales were ₹50k. The cost of a bike is ₹5k. Making the cost of a bike is ₹2500 and the shipping costs ₹200. The gross margin in B2B is 30% and B2C is 40%. Net margin in B2B is 22% and B2C is 30%.
Offers and counter Offers
Peyush and Aman gave an offer of 5 lakhs for 10% equity and 45 lakhs debt at 12% interest rate.
The owner gave a counteroffer of 50 lacs for 15% equity.
Tipayi Final deal
No final deal was done as the owner rejected the offer.