This episode had three brilliant ideas pitched in front of five shark tank india judges. This is the detailed account on how the episode went.
1. Skippi Ice Pops
- Initial Offer: 45 lakhs, 5% equity
- Company Valuation: 9 cr
- The co-founder of Skippi Ice Pops are Ravi Kabra and Anuja Kabra.
About Skippi Ice Pops
Skippi Ice Pops is India’s first and only ice pops brand. They are based in Hyderabad. They are made from 100% natural colours, natural flavours, natural preservatives, and natural sweetners. In India, there is a huge crisis of supplying frozen products. To solve the above problem they removed the refrigeration requirement from their supply chain.
The Ice pops are made in liquid form in room temperature and is supplied to the retailers and distributors in liquid form and in room temperature itself. Customers take them home, freeze them and enjoy them.
They offered to raise 45 lakhs against 5% equity in the company. Company valuation is 9 crores.
When Ashneer asked about how did the idea come from, Ravi said that he has been in the food and beverage industry for the past 16 years. Ravi repacked products of different brands into smaller sizes and did private labelling. While managing his dad’s export business last year, he realized that there’s tremendous potential for growth to try and get a new exposure. Initially, he was settled in Australia with his family. After his dad was diagnosed with oral cancer they moved back to India. Upon returning, they decided to work on something that would bring back childhood nostalgia
Kids but most importantly people above 25 years of age, so that they can introduce them to the young generation.
Each sharks took their favourite flavours of the available six and liked the flavours. When asked about the Sales, they mentioned that in 6 months they earned a revenue of 40 lakhs, last month they earned around 7.5 lakhs.
They had no Prior investor. They did bootstraping, self-funding. Their initial Investment was 55 lakhs.
When one of the sharks asked about the Long term vision.
Ravi mentioned that they want to reach all over India in 3-4 years, and later focussing Internationally, especially in Middle East, Africa. Anuja mentioned that she dreamt that the Indian cricket team should hold Skippi ice pops advertisement on their t-shirt.
When Anupam Mittal enquired about its Competitive strategy and Protection. Ravi informed the sharks that they patented the quality of soft ice as not everyone can make it.
Primary Packaging, Inner Packaging, Cartoon: 5 INR
Wholesaler: 13 INR
Selling Price: 20 INR
With Gross Margin of 8 INR
Offers for Skippi Ice Pops:
- Anupam Mittal
45 lakhs at 5% equity
- Ashneer and Namita
60 lakhs at 5% equity
60 lakhs for 6% equity
- All Sharks together
1 crore all 5 15%
After the offers, Ravi and Anuja tried to narrow it down to 10-12%. Later, they agreed on at 1 crore with 15% equity. For the first it became an all sharks deal.
Read here: Revamp Moto an EV Startup Raised 1 Crore
- Initial Offer: 50 lakhs 10% equity
- Company valuation: 5 cr
The co-founders are Tuhin Pal, and Aditi Gupta. They are 37 year old married couple from Ahmedabad.
They quit their jobs in 2013, to help remove the superstitions relating to menstruation and the taboo behind it. They spend their life saving to build an innovative product where a girl can know all the information related to periods on their own.
Till now, the have been successful in Educating more than 1.5 cr girls. Along with india,in 8 other countries, every years girls gets educated from the comic book. It is India’s first comic book about period. Their ultimate motto is to remove all the false information related to menstruation.
When asked about their team work, they said that both of them have different thought processes and divides their work. Aiti handles the research and Tuhin focuses on finances. Regarding the future prospects, they told the sharks about thir B2C bridges that can be solved by apps. They showed the sharks the demo of their app.
- Last year they generated revenue of 1.15 Cr.
- Profit:31 lakhs
- Sponsored by a feminine hygiene company
- Book sales 60% and sponsorship money is 40%.
Offers for Menstrupedia:
Namita offered them to help in the distribution segment.
- Namita Thapar
50 lakhs at 25% stake
- Asneer Groover
50 lakhs for 22% stake. He asked them to focus more on product line, selling sanitary pads, keeping the content for customer accusation.
They rejected Asneer’s offer and requested shark Namita thapar‘s to accept 50 lakhs at 20% stake. She finally accepted the deal.
- Initial Offer: 1 cr at 1 % equity
Deepti Nathala, a two years junior of shark Vineeta Singh in IIM, Madras. She is a Nanotechnologist by profession. She started her idea by informing the Sharks that normal cloth wraps when moving out protect us from the pollution by only 15%. In order to protect our body from the pollution she came up with Hecoll, a fabric that protects our body from 95% pollution and 99% UV rays. It also kills viruses and bacteria including coronavirus
From infant kits to army kits, she made around 20 products and sold them in and around Hyderabad.
To make available Hecoll fabric to every household, as it is eco-friendly and sustainable. Moreover, it will help create a clean and healthy India.
About the Product:
Initially, it was about to start as a fabric business but after incorporating the technology during the pandemic, they were informed by the Central Government to stitch masks with the fabric on their own and support the government and society. Thus, the shift to product shifting.
Present Market Scenario:
- 75% dealing in B2B Fabric
- 25% in Product Stitching
When Ashneer asked about the speciality in the quality of fabric, she mentioned that the product is lab tested from India’s NABL, Germany’s Bureau Veritas Lab, Nelson Lab in the US. The cotton molecule was combined with at the yarn impregnation stage so that the effectiveness remains intact till the end of the life. The fabric protects the body from pollution, UV Rays and germ killing.
When asked about its future scope the Hecoll is not only about coronavirus. Worldwide, 5-15% of deaths are caused by Hospital Acquired Infection. Out of 30 most polluted cities, 21 cities are located in India.
When asked about her experience, she worked in integrated chips nanotechnology, oil and gas extraction offshore and onshore- nanotechnology, fire suppression system hydroelectric power plant, and defence nanotechnology.
Revenue and Margin of Hecoll
Actual revenue 1.07 crores
- 7 lakhs from B2C
- Rest were a combination of B2B.
Offer for Hecoll:
Ashneer stepped out by saying that she lacked self realisation, lacked the idea of making and marketing a product, and the absence of a co-founder who has the idea of doing a business.
Anupam stepped out as well. He said that looking at her experience it would be easier to get the licensing and asked her to focus on Research and Development.
Namita, and Vineeta stepped out too, wishing her the best.
Aman was fascinated by the technology and said that it had a larger scope. But he stepped out saying that she was confused. She was interested in B2B, B2C, and selling in the Amazon market as well.
However, All the sharks applauded her positivity.