Sharks were really impressed from the hardwork and the enthusiasm of the founder of “Sharma Ji ka Aata”. She is really a bold women who take out the family from the tough situation and build the financial health good. Anupam Mittal praises her most and shown an emotional connect. Starting on this note let’s have the overview of the pitches delivered in today’s episode.
1. Scrap Uncle
Founder Mukul came from Delhi with his idea of “Scrap Uncle”. It’s an online application and web portal to do the scrap business. Mukul’s ask was 60 Lakhs for 3% equity share.
He identified the problems in almost every household for the scrap, to remove it, to sell it to some scrap person. He mentioned that it is not always possible to search for the scrap person, there is also problems in the weighing and accuracy of the weighing for the scrap which leads to loss in money. His childhood spent in the scrap dump of his uncle where he used to search for the equipment's to make robots. So he started scrap uncle an online scrap collection app.
They have onboarded the trained & verified agents which weighs with 100% accuracy and provides the best value. They have started automated recyclin process as well. Till date they have managed more than 22000 pickups with 14 lakhs kg’s of scrap. The business is settled in Delhi region only.
Aman made his decision very first and he made himself out. He commented that he never thought that someone could make business out of the scrap, but yes it’s possible.
Namita also made herself out of the deal as she couldn’t add any value to the business.
Vineets given offer as she wanted to take the bet on founder. She offered 30 Lakhs for 10% equity and 30 Lakhs Debt for 12% interest rate per annum.
Amit also given an offer of 60 Lakhs for 10%. Later Anupam also made an offer for 60 Lakhs 8% equity in the company.
In order to grab the deal, there was frequent revisions happened in the show by the Sharks from 8% to 6% by Anupam and 10% to 7% and then to 5% by Amit. Anupam declared himself out of the deal. Vineeta did not change her offer.
The deal was closed with Amit at 5%.
2. Sharma Ji ka Aata
Sangeeta and Pranav came from Pune, they are mother and son who bought their product and company “Sharma Ji ka Aata” to the stage of Shark Tank. Sangeeta founded the company in late 2019. They have created 40 varieties of Aata by talking to the customers as per their need and also hired a Nutritionist to prepare the right balance of nutrients in the Aata they are preparing. Their ask was 40 Lakhs for 10% equity in the company.
There was a story connected with the start of this company as the Founder shared with the Sharks which leaves all the sharks mesmerized and they all were really thoughtful for the same.
Although Anupam Mittal was very impressed with the Founder’s hard work and enthusiasm, he made himself out due to following reasons. Firstly, he did not want that the founder should take any of the deal as it will add the interference in the business what they are doing. He mentioned that the investment is not required at this point of time in this business as they are making profit. He further shared his thoughts that the founder should do this business in their own way without any interference.
Namita also agreed with Anupam and made herself out of the deal. She said that the business should go solo for some more time and she will be ready for any help outside as she is from Pune only. Aman was also out of the deal.
Amit shown interest in order to make the deal by saying that we need to take some strategic pivot in the business that we will find together. He made an offer of 20 Lakhs for 25% equity and 20 Lakhs Debt for 12% interest per annum.
Vineeta also made an offer of 20 Lakhs for 20% equity and 20 Lakhs Debt for 12% interest per annum. As Vineeta’s offer was good than Amit, He joined Vineet on the same offer.
Although Anupam was out of the deal earlier but he hindered in between of the deal and resists the founder to take any debt deal. Anupam suggested if they really wanted to take an offer, he can offer all the 40 Lakhs amount for 20% equity without giving any debt. Although the founder made a counter offer to Vineeta and Amit for 30 Lakhs at 10% equity and 10 Lakhs as debt.
Vineeta and Amit agreed upon the counter offer and also they made the debt amount interest free. The founder accepts the offer from Anupam and the deal was closed for 40 Lakhs at 20% equity.
Hinshra from Kerala and Yuba from Mumbai came to the show with their hair care product named “Maintane”. They identified the problems in taking care of the curly hairs so they developed some products which can help to maintain the same. They mentioned that in the whole world there are 60% girls with curly hairs who face problems in maintaining and caring of their hairs.
They were seeking 75 Lakhs for 2.5% equity share in the company.
They have started in 2018 and the products are available on their website and on online marketplaces. They have the current user base of around 22000. The products are sulphate free, silicon free and paraben free as they mentioned.
Vineet made herself out as the she felt the price point very high for the products. She mentioned that it’s been 4 years to the company started but the founders are still not having good understanding of the price point.
Namita was also out for the reason being this business is too early for her and also the price point is not good. Anupam also made himself out of the deal.
Amit mentioned that the branding of the product is too bad. It was nowhere mentioned on the product that it is for curly hairs and he felt the founder commitment is too less in the business. For these reasons he was also out.
Aman made a conditional offer of 75 Lakhs for 10% equity to the founders that they will bring a CMO in the company that Aman will help them to hire one. Founders made a counter offer for 7.5% to Aman.
The deal was closed for 75 Lakhs at 10% equity share.
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