This is Shark tank India episode number 18. In this episode of shark tank India Kanoi family’s Mommy’s Kitchen, Jayanti Bhattacharya’s Indian Hemp and Co, Kshitij and Kanav’s Otua and Shruthi Reddy’s Anthyesti Funeral Services will be pitching their business ideas.
1. Mommy’s Kitchen
- Owners: Prathiba Kanoi 68 years old, her sons Vikas Kanoi and Visshal Kanoi.
About Mommy’s Kitchen
Prathiba was born in Burma and stayed in Bangkok for a few years to gather knowledge in multiple cuisines. She loves to cook and serve food.After marriage 40 years ago her husband gifted her a big oven on which she used to make pizza for the whole family and serve the pizza as well. This was the story of Mommy’s Kitchen.
Mommy’s Kitchen serves freshly baked, thin crust,crispy and pure vegetarian pizzas.Their main point is that even after 1 hour their pizzas remain crisp. They were so confident to extend their business from Mumbai to Kolkata to Bengaluru.They have connected with 6500 families. They are proud to say that Amitabh Bachchan is also the consumer of Mommy’s Kitchen.
Mommy’s Kitchen Gross profit and Sales
The valuation of the company is 30 crores rupees.They aim to establish the cloud kitchen PAN India.Till date they have 3 cloud kitchens operated by them only. They take orders only through their website. They are not in zomato and swiggy. They maintain the unique taste wherever one can try; maybe it’s Mumbai; Kolkata or Bengaluru.
Asks by the Pitchers of Mommy’s Kitchen
Pitchers approach with a ask of 90 lakhs in return for 3% equity. Their sales in the last 18 months is 1.15 cr. They have sales of Rs. 4.50 lakhs in three cities. 2.5 lakhs in Mumbai; 2 lakhs in Kolkata; 50k in Bengaluru.
Counter offers for Mommy’s Kitchen
All the sharks were out because none of the sharks were convinced with the business model.
Final offer for Mommy’s Kitchen
As no sharks were interested no deal was done.
2. India Hemp and Co.
- India Hemp and Co. Owners: Jayanti Bhattacharya
She is from Bangalore. Her sister Shalini bhattacharya is the co founder
About India Hemp and Co.
Hemp or ‘ bhang’ was always a part of Indian culture. She stated that hemp is a superfood. Seeing all these benefits, Jayanti and Shalini together co-founded the company. They make nutritional health products. Before they were selling their products using Ayush limitations. They have 12 SKUs. She offered brownies to the sharks which consist of 25% hemp. Hemp has high protein, anti inflammatory properties, high fibre and complete amino acid profile.
India Hemp and Co. Gross Profit and Sales
The company’s valuation is 12.5 cr. Last year their sales were 20 lakhs. This year they did 13 lakhs sales and aims to finish the year at 27 lakhs. Their 80% sales is from their website. Their sales are 3 lakhs per month.
Asks by the pitchers of India Hemp and Co.
Pitchers approach with a ask of 50 lakhs for 4% equity.
Counter offers for India Hemp and Co.
Namita thapar offered 20 lakhs for 10% equity. And 30 lakhs debt at 12 percent interest. Jayanti gives a counter offer of only 50 lakhs debt or 50 lakhs on convertible note.
Final offer for India Hemp and Co.
Jayanti didn’t accept the offer and no final deal was done.
3. Dandera Technologies pvt. Ltd.
- Owners: Kanav Manchanda, Kshitij Bajaj
Kanav Manchanda being in the family business for 2 years and for some years in hospitality industries and Kshitij Bajaj being into the automobile industry for 16 years.
About Dandera Technologies pvt. Ltd.
A technology battery manufacturing company that works with changing the lifestyle of people. Their latest innovation is OTUA in the logistics field. The three wheeler which is powered by electricity and made with Anti Tilt technology. They have featured better economics and a wide range view from the driver ‘s seat. OTUA has a range of 165 kms and a carrying capacity of 1 ton. Because of the battery they have used this OTUA can provide a constant performance in Kanyakumari whether in Kashmir.
The vehicle is structured with modular settings and can be used as logistics, passenger vehicle and food truck too. They work with the latest technology to bring out the best change in the vehicles. The difference from other competitors is that many of the companies are not coming with proper infrastructure development but they keep them up to date with the latest possible technology and try in every possible aspect to develop their products.
Dandera Technologies pvt. Ltd. Gross profit and sales
The valuation of the company is 100 crore. Before coming to shark tank a 70 lakhs rupees deal was finalised and the equity shares are divided into 3 segments wherein 49% is with them; 49% is with a Gurgaon based company and 2% is with the incubators.
Asks by the pitchers Dandera Technologies pvt. Ltd.
Pitchers approach with a ask of 1 crore rupees in return for 1% equity in the company.
Counter offers for Dandera Technologies pvt. Ltd.
Namita, Anupam, Peyush backed off themselves because of the competitive market and equity share issues. Shark Ashneer counter offered 1 crore rupees but in return for 5% equity in the company and asked to eliminate the exponents.
Pitchers counter offers for Rs.0 in return for 1% equity as they asked to allot the investment in debt @ 6% interest.
Ashneer counters offer for 1 lakhs rupees in return for 1% equity and 99 lakhs rupees in debt @ 12% interest.
Final offer for Dandera Technologies pvt. Ltd.
The final deal was for 1 lakhs rupees in return for 1% equity in the company and 99 lakhs rupees in debt @ 12% interest for 5 years.
4. Anthyesti Funeral Services
- Owner: Shruti Reddy.
She is 36 year old and has been running her business for the last 6 years.
About Anthyesti Funeral Services
Anthyesti means “last rites in” Sanskrit. It’s a one stop solution for all post death related rites including carrying the body from home to cremation ground, funeral pandits, and all the necessary rites were done and managed by them. They have done around 5k funerals and are present in 25 cities and 7 different countries. Their aim is to make Anthyesti a household name in the next five years. They are working on an aggregation model. They have around 35 competitors in the market at present time.
Anthyesti Funeral Services Gross Profit and Sales
The company’s valuation is 20cr. Their last year revenue is 1.16 cr. When they started, revenue was 12 lakhs, then 22.5 lakhs, then 55 lakhs, next year 65 lakhs. This year they will have a revenue of 200 cr. Their profit margin is 50%. And net profit is 6%.
Asks by the Pitcher of Anthyesti Funeral Services
Pitcher approach with a ask of 50 lakhs for 2.5% equity.
Final offer Anthyesti Funeral Services
As none of the sharks were interested. So everybody stepped out and no final deal was made.
Shark Lesson of the Day
Shark Peyush Bansal gives a message to budding entrepreneurs. In entrepreneurship, an entrepreneur needs to change himself from time to time. His vision needs to be evolved with time and need. For this, one needs to be humble and open to all feedback to bring any big change.
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