This is Shark Tank India episode number 32. In this episode of shark tank India an all in one marriage proposal solution, a new age advertising agency, a fitness reward app, and a portable ophthalmic device are the pitches.
1. Thea and Sid
- Owner: Aditi Minda is 36 years old.
She is the founder and CEO of the company. Ashwini Gadia is co- founder and CFO of the company.
About Thea and Sid
When you do online shopping for a ring for a proposal, either it is traditional or it is costly. The proposal ring should be a stylish, modern, lifetime longevity ring. From there they got the idea of creating a platform where couples can buy rings. Their rings are made of 925 sterling silver, 6A grade Cubic Zirconia. They provide ring sizer, after sales service, relevant dating or proposal advice, and tell customers about inspirational real life love stories. They first started Adastra Jewellery Pvt Ltd. 5 years ago,a manufacturing unit where they export heavy jewellery. They wanted to give a vibrant experience to young people in India about jewellery buying. They started their business 5 months ago.
Thea and Sid Gross Profit and Sales
The company’s valuation is 11. 43cr. Adastra’s sales last month were 10.5lakhs. The ring’s selling price is between ₹1500-6500. The making cost is ₹350-850. So the gross margin is 75%to 90%. Net margin is 30%. Their per month revenue is 1.3lakhs.
Asks by the Pitchers of Thea and Sid
Pitchers approach with a ask of 80 lakhs for 7 % equity of the company
Final offer for Thea and Sid
All the shark tank india judges stepped out and no final deal was done.
- Owner: Prashant Pandey is the COO and Karan Bharadwaj is CEO of the company.
With hard work, undying passion and one strong motive they started cryomedia in 2017 whose present name is ExperientialEtc. It is a technology led advertising agency that has executed advertising campaigns for 150 brands.They have technology ranging from Liv Glass for beautiful displays to holubik which is a crazy technology. They have created events and exhibitions, engaging and interactive games. Their first product was holovision. Their vision was to create good content for clients who see them as a creative ad tech agency.
ExperientialEtc Gross profit and Sales
The company’s valuation is 50cr. Their revenue in the first year is 18 lakhs and hit 9.5% ebitda. In the second year 86 lakhs were the revenue and ebitda was 8.5%. In the third year revenue was 90 lakhs and ebitda was 7.5%. (Ebitda is net income except for four components, say interest, tax, depreciation and amortisation). In the last 6 to 8 months, their revenue is 1cr. Their 50% revenue comes from Xiaomi in 6 months.
Asks by the Pitchers of ExperientialEtc
Pitchers approach with a ask of 2cr for 4 % equity of the company.
Counter offers for ExperientialEtc
Peyush Bansal gave an offer of 2cr for 33.33% equity. The owners gave a counter offer of 2cr for 8% equity, which they later changed to 2cr for 10% equity.
Final offer for ExperientialEtc
Peyush didn’t accept the offer and no final deal was done.
- Owners: Sanmati Pandey, a chartered accountant and Harshit Sethy, an artificial intelligence engineer..
Now-a-days people are becoming lazy and don’t do any work without motivation. So to check on this situation growfitter was born which is a reward awarding application and keeps a track on health as well as wealth. The app provides lots of rewards along with health insurances. The scheme starts at 240rs. per month which will fetch a sum of 5 lakhs rupees of health insurance. One can achieve all these by simply doing exercises for 30 minutes in their application like running, walking, cycling, health quiz etc.
Gross Profit and Sales of Growfitter
The company’s valuation is 50cr. The app has been downloaded 3.5 lakhs times.They are growing at 20% per month and have acquired 15,000 paid subscribers. The market opportunity is around 3 lakhs and their target market is 75 crore Indians from the age group 18-60. They launched their app in mid of January 2020. The company has generated a sales of 17 lakhs rupees in the last month. From this they have allotted 6 lakhs rupees for rewards per month and net revenue is 11 lakhs rupees where some portion goes to marketing, some portion to sales promotion and net burn is 15 lakhs rupees per month. The company has 65% equity with them and the rest 35% equity is with the investors. They have raised a round of 3 crore rupees at a valuation of 30 crore rupees.
Asks by the Pitchers of Growfitter
approach with a ask of 50 lakhs for 1% equity of the company at a valuation of 50 crore rupees.
Counter offers for Growfitter
Anupam and Namita thapar were out of the deal. Peyush was not sure about the revenue and stepped out of the deal. Ashneer stepped out of the deal.
Aman gave conditional offers:
- The R&D team will examine and validate the technology.
- Deep diving into the retention rates and put up the results.
The offer was 50 lakhs for 2% equity in the company.
Final offer for Growfitter
The deal was done with Aman.
4. C3 Med-Tech Private Limited
- Owner: Alisha Nagarseth, Yash Nagarseth
Alisha Nagarseth, an MBA and Yash Nagarseth, a mechanical engineer. They are from Ahmedabad..
About C3 Med-Tech Private Limited
We are lucky to have a glance of this beautiful world but there are many blind people who are not that lucky to have this. Around 80% of these people can be saved if they have proper checkup at the proper time. In hospitals Sleet lamp and fundus cameras are used to check up the eyes but these machines are heavy and need skills to operate. For this reason we need a skilled technician or optometrist to operate these machines and any video or image can’t be processed with the help of these devices. So for solving this issue they invented a smartphone based portable and affordable ophthalmic device equipped with C3 vision, C3 Fundus Cam which can be carried easily here and there to check up the eyes.
They are in vision to reach to the ophthalmic and medical fraternity so as to make it easy and simple for every urban as well as rural people for regular checkup of the eyes. From these images doctors can identify the problems like Cataract, Diabetic Retinopathy, and Glaucoma which are the main reasons for being blind.
C3 Med-Tech Private Limited Gross Profit and Sales
The company’s valuation is 5.83 cr. The selling price of their total set up is Rs.26000 and the making cost is Rs. 15000-15500.Their 60% sales are generated from tier 2 and tier 3 cities doctors and hence reducing the cost of their practice and can educate the people about this serious problems of the eyes. They have generated a sales of 22 lakhs rupees.
Asks by the Pitchers of C3 Med-Tech private Limited
Pitchers approach with a ask of 35lakhs for 6% equity of the company.
Counter offers for C3 Med-Tech Private Limited
Anupam, Aman, Ashneer and Naman were out of the deal. Peyush counter offers for 33.3% equity in exchange for 35 lakhs rupees.
Pitchers counters offer for 15-20% equity in exchange of 35 lakhs rupees.
Final offer for C3 Med-Tech Private Limited
Pitchers denied the deal and no final deal was done.
Shark Lesson of the Day
Shark Ashneer Grover gave a lesson on money making. Money making mantra is simple. One should not run after making a valuation, rather focus on making a solid business. Money comes after business, business does not come after money.
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