Making Big Business - 31st January 2023 Episode 22 S2

All the sharks in the episode were impressed by the pitches delivered by the entrepreneurs in the January 31st 2023 episode. The ideas came in the episodes were from bee-keeping to house-keeping and for the hair care to skin care products.

Let’s have a glimpse of the episode about the ideas delivered

1. BROOMEES
Niharika, Vaibhav & Saurav from New Delhi came into the show with their product named “BROOMEES” which is an app help the people to find the helper/worker for their regular household activities like babysitting, worker, cook etc. BROOMEES is a Tech enabled app/website. They were seeking an investment of Rs. 80 Laksh for 2% equity of their company which resolves to 40 Cr company valuation.

They claimed that by using their app both customer and worker get benefitted and workers are enjoying more benefits to get their household job via the app. They are just not only helping the workers to get their job but they are also giving them benefits like Health Insurance, Child Education, Interest free loans, Female hygiene products and opportunity to earn more money. Workers appointed via their apps are getting 2x more salary than that they were earlier earning. Till date they have provided their services to more than 5000 homes. 

They also took one BROOMIE (referring to the worker from their app) name Tripati to the stage of Shark Tank to share her experience. Sharks started asking many questions to her as an impressed Peyush Bansal asked the BROOMEES founders to leave, as he quipped, “Aaplog jaa sakte hai, hum kar lenge deal (You guys can go, we will crack a deal amongst ourselves)".

Tripati mentioned that she works in at least three homes and gets to earn a respectable Rs 28,000 at the end of the month, with which she is very satisfied. She was also very grateful to meet Shark Peyush Bansal.

BROOMEES was founded in February 2021. They run awareness programmes offline & online to promote the use of their app/website. They trained the workers in the training centres for the work who are associated with them.

Namita Thapar was very impressed by the pitch and she made the very first combined offer with Aman Gupta of Rs. 80 Lakhs at 3% equity stack in the company. Anupam Mittal also given one offer of Rs. 80 Lakhs for 2% equity followed by Namita & Aman. Vineeta Singh was out of the deal as see felt the satisfaction and term issues between the Worker and Customer. Later Namita & Aman matched the offer of Anupam. Peyush Bansal joined in the same offer with Namita & Aman. 

Founder of BOOMEES put and counter of Rs. 2Cr for 5% equity which Anupam Mittal clearly denied and made himself out of the Deal. 

The deal was closed for 1 Cr for 3% Equity with Namita, Peyush & Aman.

2. RAVEL
Ravel is a customized hair care product company which is about to step down in skin care products also. It was founded in January 2021. They provide the customized hair care products to the customers by filling them up a long questionnaire form about their current situation of the hair. You can have your name also get printed on the shampoo bottle. Based upon the answers/responses they get about the individuals; the team start preparation of the hair care products by using the appropriate ingredients. The products are completely free from sulphate & paraben. Till date they have served 2 Lakhs people.

The founder Ayush Verma from Amravati made an ask of Rs. 75 Lakhs for 3% equity share in the company which resolves to 30Cr company valuation.

Peyush made himself out of the deal as he felt the product to be a combination of artificial colours and it felt like gimmicky one to him. Also, he mentioned about the lack of product differentiation and brand packaging. Namita was out due to conflict of interest as she is an investor in some other company of same product domain. Aman & Vineeta were also out of the deal.

Anupam Mittal after asking so many questions to the founder made an offer of Rs. 75 Lakhs at 10% equity which was countered to 3.5% by the founder. 

Anupam mentioned the deal as non-negotiable and it was closed for the same. 

3. HONEY VEDA 
Hardik and Kashyap from Gujarat came with this concept of Bee-Keeping on the stage of Shark Tank India in the episode of 31st January 2023. They explained the importance of the Bees in the environment which was not known to the Sharks even before. They mentioned that Bees are responsible for the pollination and without pollination more than 70% of the harvest would be affected.

The pitcher said that their idea of honey delivery is unique because they ensure they secure honey from the bees without having to kill them.  An amused Aman Gupta said he had never met anyone who loved bees and honey more, as everyone laughed.

They are producing honey, selling honey and migrating Bees from one place to another for the pollination. Till date they have taught more than 200 farmers about the Bee-keeping and it’s benefits and they are not killing any bee.

They made and ask of Rs. 75 Lakhs for 7.5% of equity before the Sharks.

Peyush, Aman & Namita were out of the deal due their specific reasons of no value addition, being having no interest in honey, an unorganized business respectively.

Vineeta & Anupam made a combined offer of Rs. 50 Lakhs at 20% equity and 25 Lakhs Debt at 12% per annum. Founders made a counter offer for 15% equity. The deal was closed for 20% equity which was Sharks original offer.