To carry forward the legacy of their grand father, founders of Authentic North India food restaurant came to the stage to deliver their very first pitch of the episode. Let's have a glimpse together on the pitches.
Raghav Jaggi, Gurpreet Singh and Amit Bagga came to the stage with their brand “Daryaganj”.
They pitched the story of Kundan Lal Jaggi, a prolific chef who moved from Peshawar to Daryaganj as a refugee after the Partition and went on to invent butter chicken and dal makhani in 1947. In order to continue with the legacy, his grandson Raghav Jaggi launched “Daryaganj” , the most authentic and flavourful restaurant for North Indian food.
The founder's server the full-fledged meal to the Sharks on the stage of Shark Tank. They were seeking ₹90 lakh for 0.5% equity.
They mentioned that their prices are 15-20% lesser than the rival competitors. The pricing for butter-chicken is ₹550 and dal makhani is ₹385. Aman is already a customer of their restaurant and he loves their butter-chicken dishes.
They revealed their sales of ₹22 Cr last year and for the current year they are projecting the sales of ₹38 Cr. Aman expressed his feelings that he was always wanted to work with them by investing in them and this day when they came to pitch in to the sharks seems the finest occasion to do so.
Vineeta, very firstly offered them ₹90 lakh for 1% equity. Namita as a vegetarian, couldn’t find any differentiator in the dal makhani and paneer. Although she loved the taste of the food but couldn’t made the offer.
Aman offered them ₹90 lakhs at the lesser valuation than Vineeta, the founders wanted Aman to come on board. After doing the discussion on back stage, they came back and given a counter to Aman and were addressing their pitch to Aman only. Vineeta felt disregarded on this and eventually she stands out of the deal.
The deal was closed with Aman for ₹90 lakh at 1%.
2. Dhruv Vidyut
Gursaurabh Singh came with their idea to convert the bicycles into electric vehicle through the use of an accompanying kit – ‘DVEC’ i.e. an electric conversion kit. He presents the most unique ask of the season by requesting the Sharks to invest 100 hours of their time for 0.5% equity.
He presented his idea to the Sharks, he doesn’t want the money but he only wanted to learn from the Sharks about how to run the business by gaining expertise from them.
Upgrading the bicycles to electric and battery operated vehicles, the battery got charged by 20 minutes of paddling. The kit is water resistant, fire resistant and dust free. The kit model is made of aircraft grad aluminium which even blocks out the outer malfunctions from ruining the interior system.
He mentioned that earlier he uploaded one of his video on his linkedIn handle which got viral. Peyush, Aman and Anupam were amazed and compelled to reach out to him. However at that time he was indulged into his project that he never got to reply to them back and when he realized about this it was too late.
Anupam raises the concern that if he only wanted the sharks to invest their 100 hours in his idea but not the money than how he will work upon the project without capital. However, Anupam given him a conditional offer that if he could able to raise ₹1 Cr, he will join him.
Peyush offered him a free space in Gurgaon to work upon his idea and to run the model’s manufacturing unit. Aman was also ready to join him on the offer.
The founder was seeking for Anupam to join him too. He praises his compatibility with him and his oratory skills that prove that he’ll be instrumental in resolving his confusions in the future.
Peyush, Aman and Anupam were joined in the venture of Dhruv Vidyut.
3. Cellbell Chairs
Ishwardas, Pawan and Chirag Demla came to the stage of Shark Tank with their family business idea to pitch to the Sharks. They are having office chairs, boss chairs, gaming chairs along with the customizable options and bulk orders and never compromising on the quality of the chairs.
They were seeking ₹90 lakh for 1.5%.
The chair prices are very from type to type. The basic office chair price is ₹4000, boss chair price is ₹8000 and gaming chair is in the range of ₹16000. Their lifetime sale is around ₹50 Cr since they have started in 2019.
The Sharks couldn’t able to find out any differentiator in the products and the clarity of the founders. No deal was made for them.
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