This is Shark Tank India episode number 31. In this episode of shark tank India Scrapshala, Sabjikothi’s smart vegetable cart, AyuRthym’s attempt to spread ayurvedic knowledge, and Astrix’s smart door locks are the pitches.
- Owners: Madhu Shah and Sikha Shah. They are from Benaras.
According to the report of CPCB(Central Pollution Control Board) every year about 7.5 kilos of non-biodegradable waste are generated. About 90% of waste is thrown away to the dustbin. So to reduce this waste Scrapshala was born who manufacture different products from scrap. Their products are categorised in Home Decor, Lifestyle and Gifting. They showed a table which is made up of 15 kg single use plastic. Their products are homemade and about 1 to 15 artisans designed and made 500+ products. Their customer base is more than 5000. They started their journey in 2016. Their vision is to take their business worldwide.
Gross Profit and Sales of Scrapshala
The company’s valuation is 5cr according to their asks. Last year they made a sales of Rs.27 lakhs rupees. The company has set up their first store in Banaras and is made up of recycled products. They want to set up their stores further in Mumbai and Delhi. They organise their business in a lean way so as to not run in loss during covid times. They don’t sell in amazon and flipkart. They have their own website.
Asks by the Pitchers of Scrapshala
Pitchers approach with a ask of 50 lakhs rupees for 10% equity of the company.
Counter offers for Scrapshala
Vineeta Singh didn’t find this business scalable so she stepped out of this deal. Aman and Ashneer were also out of the deal. Namita and Anupam were also interested to invest as there was no differentiator from other products.
Final offer for Scrapshala
No deal was done as all the sharks stepped out.
- Owner: Nikky Kumar Jha and Rashmi Jha.
They are from Bhagalpur, Bihar. From educational perspective, Nikky has done PhD in designing from IIT Kanpur and has done masters in ecology and environmental science from Nalanda, before that he has done B.tech in electrics and electronic engineering. Rashmi has pursued study in biotechnology.
In india our farm, vegetable and fruit sellers face a big problem of spoilage of their vegetables before selling. Because of this, they need to sell vegetables and fruits at a low price. To solve this problem, they have made Sabji Kothi. It is a storage to store fruits and vegetables to increase their shelf life from 3 to 30 days and vegetables remaining completely fresh. No chemicals, no refrigeration and no preservatives are used in this storage process. It can be deployed anywhere in any vehicle at any temperature. It requires only 10 watt electricity to run and 2 litres of water per week and needs zero maintenance.
Their is a device inside the chamber which emits ethylene gas. Further they electronically oxidise ethylene gas. This also prevents pathogenic attack. It also provides a high humid zone to keep the vegetables and fruits fresh. It is available in 250 kg, 500 kg, 1000kg capacity. They want to revolutionise cultivation and save the environment.
Gross Profit and Sales
The company’s valuation is 24cr. Selling price is 10k and Making charges are 5k for a chamber. They want to go on microfinancing. Their previous funding was 15 lakhs at valuation of 5cr.
Asks by the Pitchers Sabjikothi
Pitchers approach with a ask of 60 lakhs for 2.5% equity of the company
Final offer for Sabjikothi
All the sharks stepped out and no final deal was done.
- Owner: Sandeep Acharya, Abhilesh Gupta and Ramanath Padmanabhan.
Vata(Emotional Stress Index), Kapha(Strength, Energy Index), Pitta(Metabolic Index) are one of the main three factors for a healthy lifestyle. With the growing age these components are disturbed and leads to imbalance of our health. This causes diseases and health issues. So to spread knowledge and awareness they made a app which can assist someone 24*7 at their fingertips. 1.5 lakhs times the app has been downloaded by the users. Their aim is to reach worldwide and make people aware of this holistic ayurveda technique.
Elaborating about the app one has to answer some simple questions and evaluating the answers and by putting any finger on camera the results will be generated. They have used the technology Photoplethysmography(PPG). Talking about the technology they said that this technology snaps different pictures of blood flow at different seconds while someone places their finger on camera. Analysing these snaps the results are generated.
Gross Profit and Sales AyuRythm
The company’s valuation is 37.5 cr. Among the 1.25 lakhs customers, 25,000 are monthly active users and last month the download was about 12,000.They have over 68k registered users. They have a 10% retention rate. Their revenue model is acquisition, engagement, retention and monetisation. They have their subscription model. They have raised 70 lakhs of investment at a valuation of 4.5 crore. 3 months ago they have raised 2.25 crore rupees at a valuation of 25 crore rupees.They will incorporate DIY, fitness trainers, yoga trainers and are in the process to launch their first smartwear to track these activities.
Asks by the Pitchers AyuRythm
Pitchers approach with a ask of 75 lakhs rupees for 2% equity of the company.
Counter Offers for AyuRythm
Vineeta stepped out of the deal. Anupam was not clear about the revenue model and scalability, so he was out. Namita stepped out of the deal. Ahneer was also out of the deal. Aman gupta counter offers 75 lakhs but in exchange for 5% equity in the company. Pitchers again counter offers 2.68% equity for 75 lakhs at a valuation of 28 lakhs rupees.
Final Offer for AyuRythm
The deal was done with Aman for 75 lakhs in exchange of 2.68% equity in the company.
4. Astrix Engineering Products Pvt. Ltd.
Owner-Kowshik Devarajan and Sreepriya are the founders
About Astrix Engineering
Taking care of one’s belongings and beloved ones is everybody’s own responsibility and this door lock helps. Along with smartphones and smart tv, a smart lock is also needed. Astrix Engineering Products Pvt Ltd makes smart locks for doors and cupboards. These locks are smartphone compatible, and open with six other access codes such as fingerprint, RFID, number pad, otp and others. These locks can be used in drawers and other items. These are made of steel and made in india products. They are the only manufacturers of smart locks in the country.
Gross Profit and Sales Astrix Engineering
The company’s valuation is 25 cr. In the past four months they had done sales of 25 lakhs through dealers,distributors, builders. And last month sales were 18 lakhs. Next month they will do sales of 50 lakhs. The product’s distribution price is ₹13,500 and retail price is 21k to 35 k.
Asks by the Pitchers Astrix Engineering
Pitchers approach with a ask of 75 lakhs for 3% equity of the company.
Final Offer for Astrix Engineering
All the sharks stepped out and no final deal was done.
Shark Lesson of the Day
- Shark Vineeta talks about skills a budding entrepreneur must have. They are:
- Resilience as it is important that they have faced problems and dealt with it before without giving up.
- Ability to sell their products as passion should be there in their voice to recruit employers and consumers.
- Market product fit is important and if they have done any sales and their consumers feedback is important.