Table of Contents
1. The Renal Project
- Owner: Shashank Modhia, Biomedical engineer.
He has completed his master’s from the University of Texas, USA. He has stayed there for long 10 years. He has worked for a dialysis manufacturing company.
About The Renal Project
The Renal Project which featured in the Shark Tank India’s Episode 14 is all about providing dialysis facilities to the small villages, localities, and even talukas from where people traveled 100-200 km in the city for dialysis. Kidney failure is a major concern and people suffer from this critical kidney disease in remote villages it becomes very difficult for the family members to take the patient to the city which causes stress, mental pressure, and overall the cost of treatment. They started with one center in 2019 and till now they have inaugurated 21 centers across Pune, Mumbai, Thane, and Nashik. They have served 1000+ patients to date and their vision is to create 1000+ dialysis centers. This setup can also be used in the home.
Gross Profit and Sales of The Renal Project
The company has started its operation in the month of January 2021 and till May 2021 they have generated a revenue of 7.5 lakhs from home dialysis. The monthly revenue of the company is 25 lakhs and has become a 3cr ARR company in 20 months of inception.
Asks by the Pitchers of The Renal Project
Pitchers asked for 1cr. rupees for 3% equity in the company.
Counter offers for The Renal Project
Ashneer counter for 1% equity for 25 lakhs rupees and 75 lakhs rupees on debt with 12% interest for 5 years tenure. Namita counter offer for 10% equity for 1cr. rupees. Peyush Bansal backed himself. Anupam did not find himself in a position to invest in this venture. Aman joins with Namita for that 10% equity for 1cr. rupees. Namita reversed the offer for 8% equity for 1cr. Rupees.
Pitchers counter offer for 6% equity for 1cr.INR Ashneer counters for 50 lakhs for 2% equity and another 50 lakhs as debt for 12 percent of interests.
The final offer for The Renal Project
The final deal was closed by Namita and Aman at 1cr. rupees for 6% equity in the company.
2. Morriko Pure Foods Private Limited
- Owners: Tanmay Shah the founder and CEO, 39 years old, Bipin Shah; director and 69 years old and Kalyani Shah; 43 years old; director and co-founder. They are from the city of mangoes, Gujarat.
About Morriko Pure Foods Private Limited
They started their pitch by saying that 15% of the fruits are wasted because people generally don’t buy the fruits which looks unhealthy, fade in colour but in reality they are not.These fruits also have the same quality.Farmers don’t get proper value for these products as they can’t able to sell those products to customers and these are wasted.So they started this venture Kamdhenu Foods. By utilising solar dehydration processes their industry can produce tasty, healthy bars of fruits,rolls of fruits and even the dust of fruits. They aim to make this company one of the greatest healthy snack companies in India.In the year 2002 they started their journey as Kamdhenu Foods but several challenges like financial crisis, natural calamity have ruined their company but they didn’t hold back stand high and started the Morriko Pure Business Private Limited.
Gross Profit and Sales of Morriko Pure Foods Private limited
The company has been incorporated in the year 2016 and from the year 2018, they have started production. Till then they have made a total sales of 5.95 crores. In the financial year of 20-21 the sale was 1.43 crore rupees and in these 6 months of this year 21-22 the sales is about 1 crore rupees. They have both D2Cas well as B2B model (yoga bar, paperboat, mojo bar, kelloggs). They are also featured in Amazon and Flipkart and also export their products.
Asks by the Pitchers of Morriko Pure Foods Private limited
The pitchers approach with an ask of 1cr for 3%equity.
Four of the sharks step out except Namita. She gave a counter offer of 25% equity for 1 crore rupees.
Pitchers counter offer for 8% equity for 1 crore rupees.
Final offer for Morriko Pure Foods Private limited
Pitchers were not ready to give 25% equity at that moment and didn’t complete the deal as sharks were also not in position to accept the counter offer.
3. Good Good Piggy
- Owner: Purva Aggrawal is founder of Good Good Piggy.
She is a young and bright 25 year old lady hails from Delhi. She is an ambassador of women in tech in india.
About Good Good Piggy
It is India’s digital piggy bank. It is India’s first EdFinTech app for parents and kids. It is an app where parents have full control to create habits and behavioral development for the child while teaching them the entire money management equations such as digital savings, digital spending, and the most important earnings. This digital money can only be unlocked by children when they improve their habits. It is a D2C startup. The registration process from the app is quite easy with two interfaces: parent and child. A Little content is also available for children to watch. After input from parents, tasks for daily missions are given. If fulfilled by children, they get a reward and deposit it in their piggy bank. Their target audience is pre- teenagers.
Gross Profit and Sales of Good Good Piggy
Her company’s valuation is 9cr. They are on pre-revenue now which means zero revenue.
Asks by the Pitchers of Good Good Piggy.
She approached with a ask of 45lakhs for 5% equity of the company.
Final offer for Good Good Piggy
Citing different reasons by the sharks, all stepped out from the deal. No deal is done.
Shark Lesson of the Day
Shark Anupam mittal gave a trick to evaluate the senior members of the leadership team while hiring them. Two to three meetings are important with them. With each meeting, if the confidence increases then they are on the right track. but if the confidence goes down, the people are not on the right track.
Read More: Shark Tank India Judges