This is shark tank India episode number 21. In this episode of shark tank India Get-A-Whey a guilt-free ice cream brand,SID07 a daily use equipment brand and the Quirky Nari a lifestyle apparel brand are the pitches.
- Owners: Jimmy Shah, Jash Shah
Jimmy Shah has been in the entrepreneur journey for 30 years;Jash Shah, her son, are both founders.
Get-A-Whey is a company which is concerned about the healthy lifestyle of the people.The company are in the making and producing one of the most popular dessert ice-cream which is totally sugar free and gluten free and made up of whey protein.Whey protein is the leftover paneer water and this water is being solidified to powder.These ice creams are not like other ice creams as it contain 4X more protein and are less in calories.Ice Creams are more creamy and tasty.Their products are available in 12 different flavours among which there are 4 Keto friendly options and they are in plan to introduce low calorie ice-cream sandwich and vegan product too.
The company started their journey 1.5 years back and now they have established their presence in Mumbai, Pune, Gurugram, Delhi and Chennai.Products are available in any nearby supermarkets and online marketplaces. In the year 2020 they launched their website Getawhey.in and received orders directly from customers. At the beginning they used to sell through Instagram and with the growth they have appointed food technologists who can help them in this process. Solving the melting issues they had set up 10 cloud kitchens. They have 22 cloud kitchens till date and their projection is 45 cloud kitchens.
Get-A-Whey Gross Profit and Sales
The company’s valuation is 12.5 crore rupees. The sales are around 22k-25k units per month. In the month of October of the FY 2018-2019 the sales were about 15 lakhs(organically), in the FY 2019-20 the sales were increased to 50 lakhs, In the financial year 2020-21 the sales were 1.6 crore rupees and till date the sales is 2.2 crore.By the FY 2021-22 the projected sales is around 3.6 crore rupees.The cost of one unit is Rs.130 and for the Keto based it is Rs, 175 as in keto based they use cream instead of milk.The making cost is around 31%, selling and general administrative cost is around 49% and the gross margin around 20%. Their sales are 70% from online aggregators like Big Basket, Amazon, Flipkart, Nature’s Basket and 30% are offline sales..
Asks by the pitchers of Get-A-Whey
Pitchers approach with a ask of Rs.1 crore in return for a 8% equity in the company.
Counter offers for Get-A-Whey
Vineeta Singh counter offers for Rs.1 crore in return for 15% equity in the company. Ashneer and Aman counter offers for Rs.1 crore in return for 12% equity in the company. Vineeta matched the offer of Aman and Ashneer. Peyush and Anupam backed off. Ashneer, Amna, Vineeta jointy counter offer for Rs.1 crore for !5% equity in the company. Pitchers counter and ask for Rs.1.5 crore in return for 15% equity or 12% equity for Rs.1 crore.
Final offer for Get-A-Whey
The final deal was with Ashneer, Aman, Vineeta for Rs.1 crore in return for 15% equity in the company.
- Owner: Siddarth Gupta
Siddarth is 28 years old. He hails from Jammu. He has always FOnd Of creating something or solving something since his childhood. At 17 years of age he was rejected from his dream college IIT.
The company makes innovative, unseen products that are used on a daily basis. He had made 11 inventions till now, out of which 3 are granted patents, 2 are pending patents, 6 patents are to be filled after. These all inventions are completely different from each other but all they serve the same purpose of easing the daily routine lifestyle. Drill duster iS One of his products which avoids any dust during drilling. ToGo is another product. It is a patented, flat folding, silicon based, collapsible cup which can be easily carried anywhere. His vision is to make such products that can reach every household.
SID07 Gross Profit and Sales
The company’s valuation is 4.7cr. Last year They did sales of 14 lakhs. Last month he did sales of 1 lakhs.
Asks by the Pitchers SID07
Pitchers approach with a ask of 47 lakhs for 10% equity. Counter offers- All the sharks stepped out except Peyush. Shark Peyush bansal offered 25 lakhs for 75% equity and 22 lakhs debt. Then Aman gave an offer of 25 lakhs for 65% equity and 22 lakhs debt.
Final offer for SID07
The final deal was done with Peyush for 25 lakhs for 75% equity and 22 lakhs debt.
3. The Quirky Nari
- Owner: Malvica Saxena
Malvica was born and brought up in a business family. She hails from Mathura. After finishing her MBA, she started taking interest in fashion. She did diploma in fashion.
About The Quirky Nari
The Quirky Nari is a lifestyle and apparel brand that specialises in personalised and sustainable fashion. Malvica started this in 2018 from her bedroom, which now has become a full venture. They are India’s first hand painted denim brand. Currently they are the only brand in the market that customises bridal sneakers and also customised clothing. They have collaborated with many celebrities including Priyanka Chopra. She wants to take her brand globally and expand her brand portfolio from customised to standardised products. She started with zero investment. She has 26k Instagram followers.
The Quirky Nari Gross Profit and Sales
The company’s valuation is 7cr. Her last 5 month revenue is 15 lakhs. Her selling price for pineapple printed shoes is 1300. The shoe cost is 300 and she pays 300 to her intern and the gross profit on that shoe is 700.
Asks by the pitcher of The Quirky Nari
Pitchers approach with a ask of 35 lakhs for 5% equity of the company.
Counter Offers for The Quirky Nari
Shark Vineeta Singh and Anupam were really impressed by Malvica and offered her 20 lakhs for 20% equity and 15 lakhs debt. Later, Vineeta and Anupam changed the offer to 35 lakhs for 25% equity. Malvica’s put a counter offer of 35 lakhs for 20% equity of the company. She again countered the amount for 23% equity. Both the sharks counter the offer at 24% equity.
Final offer for The Quirky Nari
The final deal was done with Vineeta and Anupam for 35 lakhs at 24% equity of the company.
Shark Lesson of the Day
Shark Peyush said that one should search for a real problem. Even if the problem is big and difficult, work hard and take steps to solve that problem. So that after a span of five or ten years India and the whole world will be a better place.
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