Table of Contents
1. qZense Lab
- Business Name: qZenses lab
- Owner Name: Rubel Chib and Dr. Srishti Batra
Rubel Chib,30 years old Electronic Engineer having experience in IoT projects and Dr. Srishti Batra,31 years old Phd in computational biology started this venture the qZenses labs. Dr. Srishti Batra is 8 months pregnant and drove the car to Bangalore to pitch their ideas on Shark Tank India. Rubel manages sales and marketing and Dr. Srishti is into data analysis and innovative technology.
About the Business qZense Labs:
Rubel and Dr. Srishti presented their pitch in a nice way. They showed an apple to the sharks and asked whether they can pretend it is good or bad from inside. They added that 92k crore rupees is lost every year due to irregular delivery and consumption of fruits and vegetables from all over the country. We can’t determine from outside whether the fruits and vegetables are good or bad. The whole business is dependent on guessing when one should consume the food. They have invented a machine based on Qscan technology which is proudly made in India which can give you the results with 95 percent accuracy.
This machine works with principle of spectroscopy infrared and artificial olfaction which features a sensor array which can both receive and evaluate different odors. When Anupam asked for the bananas what should be the stage then in reply they said In the case of bananas it determines the stage when it should be consumed and there is a brick factor which determines the sweetness of the product. Their target customers are mainly wholesalers and retailers. They wanted to raise the investment for implementation of a fully digitalized warehouse.
Gross Profit, Sales and Revenue of qZense Labs:
They are currently selling those machines to wholesalers and retailers and look after the annual maintenance of the machine.This is the present sales model of the company. They have sold around 35 machines till date. The making cost of the machine is about 15k and they sell their machine at a price of 50k. Their gross margin is about 35k. The revenue generation of the company is 15 lakhs during the financial year 2021.
The company is looking to produce a sale of 5cr. in the upcoming financial year based on the warehouse model and the projected sales is about 20 crore.They are pre revenued with two investors before hand with 1.8 cr from one investor for their idea and another was 5 cr. From the month of dec 2020 to jan 2021 they generate revenue of 24 crore.The valuation of the company is 400 crore.
Ask by Pitchers of qZense Labs:
Rubel and Dr. Srishti tried their best to convince the sharks and offered a value of 1 crore for 1 percent equity in the company.
Offer and Counter offer for qZense Labs:
Shark Anupam backed off by saying that if the order of the machines was huge then he could have thought of the offer. Aman Gupta couldn’t believe in them as he talked about finance and accounting and that this also plays a vital role in a company.He didn’t bother about the deal. Ashneer Gover told the pitchers that the pitchers have come here for fun not for the investment in their company and he also backed off.
Namita Thapar backed off and wished them luck. Vineeta Singh counter offered 5 percent for 1 cr. The pitchers were told to discuss whether to close the deal or not. Pitchers counter offer for 0.25 percentage stake for 1 crore in the company.
Read here: Shark Tank India Shabdkosh
Final Offer for qZense Labs:
The deal was not done by Vinneta Singh and the deal was finally rejected.
- Business Name: Peeschute
- Owner Name: Siddhant Tawarawala. He is 28 years old. He belongs to Jalna, Maharashtra.
Siddhant explained how people suffer problems for urination in public places especially women. There is a lack of proper, clean and hygienic toilet facilities in bus stops, tourist places, railway stations and other public places. This problem has hit Siddhant and led to production of Peeschute. Peeschute unisex disposable urinal bags that changes the human urine’s composition into gel. This concept can solve the problems of water, heavy infrastructure, plumbing, and drainage from public places. He demonstrated that peeschute is made of paper and it have a unisex funnel and urine comes in contact with this gets solidifies. No odor or leakage occurs. He provides this product with the installation of a privacy chamber. From 2019 they have sold 2 lakhs peeschute bags in four countries. He showed a sample product to the judges.
The blue bags are Peeschute medi, belonging to health care. People benefitted from this those who have lower immobility, paralysis, post surgery. Yellow packet is Peeschute travel which is travel friendly and produces an aroma when opened, giving a pleasant urination experience. They want to replace the whole toilet system. Along with this product they will install a privacy cubicle chamber in different places. The cost of these chambers will be ₹2500. This chamber is a collapsible chamber that can be folded and installed easily anywhere. The main idea behind this is replacing high cost toilets with low cost chambers.
They have a direct market with the government. They want to scale up their market in India by setting up these chambers in railway stations and bus stops. For maintenance, they will connect to local people around bus stops.
Gross Profit and Sales of Peeschute:
The company’s valuation is ₹18.75crores. Selling price of each Peeschute medi is ₹33 and Peeschute travel is ₹10. Before they took up an investment of ₹7.5 crores. They have a paid pilot turnover of 42 lakhs. In the first year it was 14 lakhs and in the second year it was 23 lakhs. This year they are around 1 crore. .
Ask by pitchers of Peeschute:
He came with a ask of 75 lakhs for 4% equity.
Offer and counter offers for Peeschute:
Ashneer demanded for 7% equity for 75 lakhs. Namita stepped out because of operational problems with the chambers. Aman offered 75 lakhs for 10% equity. Anupam and Vineeta gave a joint offer of 75 lakhs for 10% equity. Siddhant gave a counter offer to Aman of 75 lakhs for 6% equity.
Final offer for Peeschute:
Finally the deal is done with Shark Aman of 75 lakhs for 6% equity.
3. NOCD(NO Carbs Drink)
- Business Name: NOCD – No Carbs Drink
- Owner Name: Sidharth Mishra and Vinay Kumar. Both have worked together before also.
About No Carbs Drink:
“NOCD is a healthier drink for a healthier world”. It consists of Amino acid, folic acid, biotin, green coffee beans and multivitamins. They developed this formula with the help of biotech scientists. It contains no sugar and a caan have only 5 calories. They started their business from Bangalore and are currently present in more than 1100 stores of which 300 stores are in Mumbai and the remaining 800 stores are in Bangalore. They are also present in e-commerce platforms like Amazon, flipkart, bigbasket and many more. They are both fitness freaks and thought of developing a product that is healthy.
Gross Profit and Sales of No Carbs Drink:
The company’s valuation is 25 crores. Their net sales value from 2019 to 2020 is ₹1.16 crores. Their last month sales were 17.2 lakhs. In October their sales reached almost 20 lakhs. They have international offers from the UAE. Cost of each can is ₹110. And the price is ₹20.
Ask by Pitchers: They Approach with a Deal of 50 Lakhs for 2% Equity.
Offer and Counter offers: Shark Ashneer did not find the name to be attractive and told them that this sounds like a drug name.So he is step back Aman did not like the sales and marketing strategy and told them that if he made an investment he had to work hard.
Namita and Anupam also backed themselves. Vineeta Singh counter offers to take 20 percentage equity for 20 lakhs and 30 lakhs debt. Pitchers took a few minutes and counter offer again for 10 percent equity for 20 lakhs and 30 lakhs debt.
Final offer: The final deal was with Vineeta Singh at a price of 20 lakhs for 15 percent equity and 30 lakhs rupees debt along with change in brand name and packaging.
Ashneer told the difference between debt and equity. There are two types of funding. Equity is one in which owners don’t give the money back but in return have to give a few percent stake of the company. Whereas debt is the loan taken and needs to return back with interest after a certain period of time.
Shark Lesson of the Day
Shark Vineeta Singh gave a lesson on the name and packaging of a brand. She said; “the name should be short and easily memorable, packaging should be simple and distinctive and not cluttered so that the product can stand digitally.”