Sharks in the Episode:
Peyush Bansal (founder & CEO Lenskart.com), Anupam Mittal (founder of shadi.com and people group), Aman Gupta (co-founder & CMO Boat Nirvana), Namita Thapar (Director Emcure Pharmaceuticals), Amit Jain (Founder & CEO Cardekho.com).
Host of the Show:
Rahul Dua (Comedian)
Let's have the glimpse of the episode together.
A pseudonymous social network where anyone can share anything without revealing their identity. They can be a part of the group for the discussion. Jaspreet, Abhishek and Deepak came to the stage of Shark Tank India Season 2 with their idea from Gurgaon.
They were seeking an investment of ₹1.2 Cr for 0.2% equity.
The sharks were amazed with their ask, Peyush cracked a joke that can we ask this question on the HOOD if the founders ask for the equity is correct or not?
Founders explained that on the app groups can be created where people can share or ask anything they want, and no one would be able to identify them. Companies, Corporate and many other organizations can create their own group. They mentioned that the posts are end-to-end encrypted. It has value driven info.
They also revealed that the HOOD is Zorrow rebranded which was earlier famous anonymous brand. Within the 45 days (about 1 and a half months) of the launch of the HOOD, they got 5 lakhs plus users on their platform and 5000 plus groups created.
The Sharks were not really impressed with their pitch. Anupam said that they came to Shark Tank only from the marketing perspective. He further mentioned that anonymous market is dead except dark web. Pseudonymous already exists in the form of Twitter, Facebook, Instagram, Quora. Anupam stands out of the deal. Namita and Amit were also out of the Deal.
Peyush and Aman made them an offer for ₹60 lakh at 0.54% equity and ₹60 lakh debt at 12% interest. The deal was closed.
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2. Twisting Scoops
Manmeet and Kunwarpreet from Delhi came with their brand “Twisting Scoop” - a Turkish ice cream prepared with 100% goat milk.
Their ask was for 1Cr, 2.5% equity.
They prepare their ice cream with 100% goat milk, zero chemicals and with natural Turkish ingredients. They are not limited upto ice cream but have other options like Baklavas, Turkish Coffee, Kunafa, falafal. Started in 2016, they did the sale of ₹5 Cr last year.
They are available in the markets in 37 plus stores in 15 plus, kiosks and cart models at the Airports.
All the Sharks were very impressed with the kind of business they are doing and the way they are profitable. Sharks thought that the founders should not raise the investments and stand out of the deal.
Only Peyush made them an offer of ₹50 lakhs for 10% equity and ₹50 lakhs debt at 12% interest which the founders denied.
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Saurabh and Akshay from Surat came to the Shark Tank with protective farming products. They mentioned that only 2% of the farmers are known to protective farming and its techniques.
They were seeking an investment of ₹1 Cr for 1% equity.
By using their protective products and techniques, they ensure the consumption of water, pesticides and fertilizers to be reduced by 50%. Their products help to prevent weed growth and increase crop yield upto 50-100%.
Till date they have helped 15 thousand plus farmers to increase their yield. They have 18 different produts out of which Mulching is the most used product and sold upto 80% of the total sales. Till date they done the business of ₹13 Cr and were projecting 35-40 Cr in this financial year.
Although the cause was good and Sharks appreciated them also, Only Namita made and offer to the founders for ₹50 lakh for 1% equity and ₹50 lakh debt at 12% interest. Peyush also joined Namita on the same offer and the deal was closed.
Read article on Growing with India – 15th February 2023 Episode 33 S2
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