Shark tank India is opening its door for one more time this season. A second chance has been given to entrepreneurs throughout the country to pitch their business ideas in front of sharks. From 23000 entries only 4 are given the last chance to present their ideas. This is Shark Tank India special episode 36. The sharks on board for this special edition are Peyush Bansal, Vineeta Singh, Anupam Mittal, Namita Thapar and Aman Gupta.
- Owner: Krishnav Dhingra
Krishnav Dhingra is 22 years old. He was born and brought up in Delhi. He started his first venture at the age of 17 years of age in school. Sneakare is his second venture.
He started his pitch by saying every person is known by his shoes. This brand provides complete shoe care and storage solutions for every price range shoes. After some research he came to understand that shoe care and accessories is a big industry. He started this in 2020. Crates are his hot selling products. He started with 250 DIY crates. It can be assembled according to the instructions. The brand focuses on care and protection. In 8 months, they have sold 7000 boxes. They have 55 percent customer retention on their website.
Sneakare Gross Profit and Sales
The company’s valuation is 4 cr. The side drop crate has a retail price of 1200. They had done 50 lakhs sales in 8 months. He has spent only 20-25 k on marketing. Last month sales were 7 lakhs. He had personally invested 18 lakhs.
Asks by the Pitchers of Sneakare
Pitchers approach with a ask of 20 lakhs for 5% equity of the company
Counter Offers for Sneakare
Vineeta give an offer of 20 lakhs for 20% equity. Namita Thapar offers 20 lakhs for 15% equity and Vineeta changes her offer and matches Namita’s offer. Then a joint offer came from Namita, Vineeta and Aman for 21 lakhs at 15% equity.
Krishnav gave a counter counter offer of 21 lakhs for 12%.
Final Offer for Sneakare
The final deal was done with Aman Gupta, Vineeta and Namita for 21 lakhs for 12% equity of the company.
2. French Crown
- Owners: Bhavdip Ghevariya and Ilesh Ghevariya. They are brothers and hail from Surat, Gujarat.
About French Crown
They started their pitch with high energy. The clothing industry depends on designs. Most of the fashion brands suffer from dead stock which means the designs which are not sold and finally are wasted. The rate of dead stock for most of the fashion brands is 30% dead stock. French Crown is the first men’s wear clothing brand with zero dead stock.The company was started in 2017 and every week they came up with 280+ new designs. Till date they have 3000+ designs live on their website. They deal from suits to boxers in the men’s category.
The hero product will be their suit and shirts. The brand made customised products, plus sizes products and standard size products. They are present in 84 different countries. The brand has a strong supply chain which made it possible for the zero dead stock.The company takes 2 days to make the customised products. They have their own manufacturing unit and produce around 15000 pieces per month.
French Crown Gross Profit and Sales
The company’s valuation is 450 cr. THey made around 30% margin by selling customised and plus sizes shirts and suits. The revenue generated for 3 years was around 1 crore rupees. Now the monthly sale is about 6 crore rupees. The company started globally in the month of October and in one month the company reached a high by selling globally. The gross margin is about 84%. The company has a net profit of 20%.
Asks by the pitchers of French Crown
Pitchers approach with a ask of 1.5cr rupees for 0.33% equity of the company.
Counter offers for French Crown
Namita Thapar counter offers 75 lakhs rupees for 7.5% equity and 75 lakhs debt @12% interest. Anupam Mittal asked whether the pitchers will accept the offer at a 300 crore valuation or not. But for some reason he was out of the deal. Aman was out of the deal.
Peyush kept himself from the deal. Vineeta Singh was not interested in the business and was out of the deal. Namita revised the deal and offered 75 lakhs rupees for 3.75% equity in the company and 75 lakhs rupees debt @12% interest.
Final Offer for French Crown
Pitchers didn’t accept the offer and no deal was done.
Read here: Getting Candid With The Sharks
3. Store My Goods
- Owners: Sudeep Gupta, founder and CEO of the company. Swati Gupta;CCO and Sajid Khan;COO.
About Store My Goods
In day to day many people like an individual, who wants to renovate a home or entrepreneur who wants to scale his business both have faced a problem with storage capacity. They face many problems like dealing with brokers, Heavy commission, affordable storage with safety and security. So to solve these issues, Store My Goods was born which is a technology driven storage facility where an individual can store goods from all over the world by click of a button. The company was started in the year 2020 and has provided 500 customers with subscription models. They have a total of 40,000 sq feet of space and they started their journey from Delhi NCR. They are currently present in Mumbai and planning to make it to 4 other different cities.
Store My Goods Gross Profit and Sales
The company’s valuation is 57.14 cr. rupees. Sudeep has 50% equity in the company. Swati has 20% equity and Sajid has 5% eshop. The Remaining 30% is with Sudeep’s family. Their business model is B2B as well as B2C.
For B2C model there are four simple steps:
In the month of January the revenue was 30 lakhs rupees and they are increasing their revenue by 15% per month. In the financial year of 20-21 the revenue was around 35 lakhs rupees. In the FY21-22 till December the revenue was 1cr. Rupees and the projected revenue for the financial year 22-23 is around 7 crore rupees. The aim of the company is to make a storage hub when they will grow up gradually.
Asks by the pitchers of Store My Goods
Pitchers approach with a ask of 1 crore rupees for 1.75 % equity of the company.
Counter offers for Store My Goods
Aman stepped out from the offer. Anupam was out of the deal too. Vineeta Singh was out of the deal because of the supply and demand issues. Namita Thapar and Peyush Bansal counter offer of 50 lakhs rupees for 5% equity in the company and 50 lakhs rupees debt @12%.
Pitchers counter offer 6% equity in exchange for 1crore rupees. Pitchers again counter offers 50 lakhs rupees in exchange of 3.5% equity in the company and 50 lakhs debt at 12% interest. Peyush and Namita counter offer for 4% equity in the company. Pitchers counter offer for 3.75% equity in the company for exchange of the same conditions.
Final Offer for Store My Goods
The final deal was of 4% equity in exchange of 50 lakhs rupees and 50 lakhs rupees debt at 12% interest.
- Owners: Himanshu Sharma and Nakul Kundra are the co-founders. They are from Delhi.
They started their pitch by saying that even today 90% of Indians talk in their native languages. About 0.1 % of content on the internet is available in native languages. Devnagri is an AI powered human translation platform which provides translation services in 12 Indian languages. Their machine translation accuracy is 85%. Their technology is made in india. Their vision is to reach 100cr Indians who don’t know English, who live in tier 2 and tier 3 cities and villages. They enable businesses to localise their digital content and communication. Their own translation engine is www.translate.devnagri.com.
It started in 2020 and now they have 70+ clients. They have made a community of 5000 human translators. They are now doing text to text translations and image translation has also started. They have catered 4 industries that are ed-tech, e-commerce, publishers and BFSI.
Devnagri Gross Profit and Sales
The company’s valuation is 100 cr. Their first year revenue is 2cr. They are in the 3rd quarter at 3.5 cr and will end the year at 5 cr.
Asks by the pitchers of Devnagri
Pitchers approach with a ask of 1cr for 1% equity of the company
Counter Offers for Devnagri
Namita give an offer of 50 lakhs for 2% equity and 50 lakhs debt at 12 percent interest.
Final offer for Devnagri
The owners could not accept the offer and no final deal was done.