This is shark tank India episode number 24. In this episode of shark tank India The Sass Bar’s concept gifting products, K G Agritech’s Equipment to help farmers, Nuskha Kitchen’s homemade recipes for new mothers are the pitches.
1. The Sass Bar
- Owner: Rishika Nayak Shetty is the founder of the business.
Rishika comes from Mumbai. She was always an environment enthusiast and always wanted to create something sustainable.
About The Sass Bar
This is a concept gifting, artistic brand with fun,quirky and sassy products. Their first line of products is dessert soap where normal soap is matched with dessert and gives a fun sassy look. She collaborated with other artists like her and based on different themes like travel,food and music she made niche gift products. They want to make this a brand which is synonymous with gifting. She started this in 2019.
The Sass Bar Gross Profit and Sales
The company’s valuation is 5cr. Their current year sales is 30 lakhs. And last month sales were 7 lakhs. One box cost is ₹1799. One soap cost is 295. Gross margin is 65% and net margin is 55%. Out of total sales, 85% comes from soaps.
Asks by the Pitchers of The Sass Bar
Pitchers approach with a ask of 40 lakhs for 8% equity of the company
Counter offers for The Sass Bar
Anupam and Ghazal give an offer of 40 lakhs for 40% of the company with few conditions like changing the business from gifting to bathing essentials. Rishika gave a counter offer of 40 lakhs for 30% equity. Anupam and Ghazal countered it at 40 lakhs for 35% equity. Rishika asked to raise the valuation.
Final Offer for The Sass Bar
The final deal was done with Anupam mittal and Ghazal Alagh at 50 lakhs for 35% equity of the company.
2. KG Agrotech
- Owner: Kamlesh Nanasaheb Ghumare
Kamlesh came from a small village; 20 km from Malegaon. His brother is in the Indian army and he is in the farming.He is from a farmer family. In his village he is popularly known as ‘Jugadu’ Kamlesh.
About KG Agrotech
A farmer carries the pesticide machine on his back while spraying medicine in the farming lands and this machine weighs a lot. Carrying this all day, the waist part hurts a lot.Along with this the harmful medicines enter into their nose, exposed skins and eyes. His father also has this same problem. For solving these problems he invented a product where the tank can be kept on a three wheeled structured cart and pesticides can be sprayed by pressing a handle attached to the cart.
He started his work on this product innovation in 2014 and took 7 years to finish the product.This is a multi purpose product.The machine is lightweight. He wants to attach batteries with the machine and will be in the process of introducing seeds dropping. His video went viral using this type of product and got around 65 lakhs views on Youtube.
KG Agrotech Gross Profit and Sales
The company’s valuation is 3 crore rupees. The company has not started the business. The making cost of the product is Rs. 8000 and the selling price of the product will be Rs,12000.
Asks by the pitchers of KG Agrotech
Pitcher approach with a ask of 30 lakhs rupees for 10% equity of the company.
Counter offers for KG Agrotech
Anupam has no interest in agriculture so he backed off himself. Vineeta suggested posting his idea and videos on such a website from where he can raise funds and get orders. She also backed off herself. Ghazal was a bit concerned about the scalability of the business and she was out of the deal. Namita Thapar was not interested in the business and she was out.
Peyush counter offers for 10 lakhs in exchange for 40% equity in the company and 20 lakhs rupees debt @ 0% interest.
Final offer for KG Agrotech
This deal was closed by Peyush for 10 lakhs in exchange for 40% equity in the company and 20 lakhs rupees debt @ 0% interest with a future valuation of 25 crores rupees.
Read here: Peyush Bansal Lenskart Founder As Shark Tank India Judge
3. Nuskha Kitchen
- Owners: Alpana Tiwari and Viral Tiwari
About Nuskha Kitchen
After a child delivery a woman generally suffers from lactation problems, recovery problems, problems in growth etc. So Nushka Kitchen was born which provides a 50 days post delivery complete course to all the new mothers in which there are 20 different ingredients which help in recovering the health issues.Their products include Ajwain Ladoo, Gond Ladoo, Massage Oil, Herbs and many more which is customised and are advised to use according to the weight, physical structure of body and season.They have 24*7 online support.They have reached out 4000+ women and helped them in their speedy recovery. Sharks consumed the samples and said that it was very tasty.
Nuskha Kitchen Gross Profit and Sales
The company’s valuation is 2 cr.Their services are booked through their website.Their total package over 12 months is Rs.15000 and the main packet is Rs. 8500.Their sales in the year 2019 was 19 lakhs rupees wherein the profit is 1-1.5 lakhs rupees.Last month the sale was 1.45 lakhs rupees. They are in the process of listing themselves on Amazon and Flipkart.
Asks by the pitchers of Nuskha Kitchen
Pitchers approach with a ask of 20 lakhs for 10% equity of the company.
Final offer for Nuskha Kitchen
All the sharks stepped out and no final deal was done.
Shark Lesson of the Day
Shark Ghazal Alagh of Mamaearth stated two learnings from her entrepreneurial journey. One is the attitude of not giving up and another is figuring it out as there are going to be many problems in an entrepreneurial journey. The attitude of figuring out the solution of any problem and overcoming it will be the key to success.
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