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Shark Tank India Episode 19: What Happened in the Show?

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In episode 19, Four companies came on the show. First was Ethik- live leather-free by Pankaj Khabiya and Bharat Ranka, Second was Brainwired by Sreeshankar and Romeo, Third was Keto India by Sahil Pruthi and Fourth was Magic Lock by Dhananjay Bhatt, Zubin Bhatt, and Tejas Shah.

At the end of the episode, the shark lesson of the day was given by Aman, ‘Better try than Cry’. So one should just keep trying.

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Index:

Ethik:

Ethik – live leather-free. A brand that is similar to leather but made without any use of animal skin. It was started in 2012. You would be thinking of a leather product without any use of leather? How? Yes, it is.

Ethik Shark tank india
Ethik

Ethik is a revolutionary Indian brand that serves high-quality non-leather products with the help of the latest technologies, fabric like raw materials called microfibers are converted into real products. Ethik is free of animal skin but still, it is not eco-friendly because the microfibers it uses come from Petrol. Ethik manufactures alternatives to leather jackets, shoes, and belts.

Who were the founders of Ethik?

Pankaj Khabiya and Bharat Ranka from Banglore are the founders of Ethik. As we know where does leather come from but also no companies take any action towards it. When Pankaj and Bharat went to college, they asked themselves about what and why they were wearing the leather products to which they decided to do something without compromising the style and started Ethik.

Did Ethik get a deal on Shark Tank?

Pankaj and Bharat came on Shark Tank India in season 1, episode 19. They came on the show looking for an investment and expertise from sharks, of 15 lakhs in exchange for 5% equity in the business, Company valuation is around 3 Crore.

After seeing the samples, all the sharks appreciated the quality of products but not with the number of sales. Ashneer directly said that Ethik was there to sell its leftover stocks and also said it was not a business model and went out. Peyush also moved out but appreciated the product and its quality. Namita didn’t find it saleable and also, the price was high to which she turned herself down.

Aman was very much impressed with the purpose but didn’t find any muscle in the business and went out. Pankaj asked the sharks what mistake they were making to which Aman said that he was rigid in nature. Anupam said that being an entrepreneur is a combination of Passion, enthusiasm, and energy, he didn’t find that combination in them and went out. No deal was made and the pitch was closed.

Brainwired:

Brainwired is a company that manufactures various types of Products, one of which is Westock. Westock is an IOT device that is plugged in a cow’s ear. Westock monitors the health and reproductive cycle of the cattle and also displays the daily result on the related application.

Brainwired Shark tank india
Brainwired

Westock is made with the help of Artificial Intelligence and Machine learning. Westock also assigns a doctor to each farmer so, they can take care and get the advice at right time. Westock also measures weather with the help of Westock reader device. Westock – Your livestock, our care.

Who were the founders of Brainwired?

Sreeshankar and Romeo from Kerala are the founders of Brainwired. Both of them have completed their B. Tech in Electronics Communication Engineering from the same college. Sreeshankar had a family dairy business and had an attachment with his cow named Gauri.

Gauri had some health issues due to which she passed away, the biggest problem was that they didn’t know what had actually happened to her. The doctor said if he would have been informed, he could save her. Romeo and Sreeshankar have the vision to make Westock a household product in all dairy farms.

Did Brainwired get a deal on Shark Tank?

Sreeshankar came on the show with a cup coffee mug in his hand which made sharks a bit chaotic but he clarified it by relating to his dairy farm business. They came on the show with a pitch of 50 lakhs for 5% equity in the business. After the explanation and the demo video about the application, Ashneer said why he didn’t try to sell in the foreign markets to which Romeo said that Westock was getting orders from Australia and Africa.

All the sharks were very impressed with the product but unfortunately, Anupam went out because he had already invested in a cattle company. Peyush said that he was the closest to Artificial Intelligence so he would like to give them an offer, to which Namita said that she, Ashneer, and  Aman would also like to give an offer.

Peyush asked to join the deal and a pack of 4 sharks with expertise in four different segments gave an offer of 50 lakhs for 9% equity in the business. Romeo countered it for 75 lakhs for 10% equity in the business. Ashneer changed the deal on behalf of the other 3 sharks at 60 lakhs for 10% equity.

Brainwired accepted the deal for the same and received their checks from device expert, Finance expert, pharma queen, and technological expert.

Keto India:

Did you know what does Keto means? Keto refers to a diet that is low in carbohydrates but high in protein. Keto India delivers the same with three steps protocol which includes personalized nutrition, supplementation, and lastly, clinical trial.

How does Keto India work? Anyone from anywhere can enjoy its benefits? Yes, you can. An individual can go on its application and select their age, gender, and basic details. Also any symptoms and food preference, after a duration, payment for their personalized Keto diet has to be made. Keto India basically prepares a chart of the Keto diet for its users. Keto India is a subscription-based application.

See also  Shark Tank India Episode 11: What Happened in the Show?
Keto India Shark tank india
Keto India

Keto India has to date served 3100 clients in 16 states and 23 countries across the globe. Keto India charges differently in India and other countries. For India, it starts with 4500 per month whereas for foreign countries it is 9000 per month. Keto India has done 2.10 crore sales as of 2022.

Who were the founders of Keto India?

Sahil Pruthi is the founder of Keto India. Sahil is from an engineering background and has experience in product development.  He also has a personal advisor, Prabhat Gupta, who also works closely on it. On 17 September 2017, his mother had brain surgery due to which he and his sister had to leave their jobs in order to take care of her.

Both of them did the same for 9 months and in these months, Sahil studied the reason for brain surgery and the measures which one can take to avoid this suffering. Sahil put her mother on his Keto Diet which completely resulted positive for her and she is completely healthy today. That’s how Keto India came as a big saver business model for many people.

Did Keto India get a deal on Shark Tank?

Sahil came on Shark Tank to scale the business and take it forward with the help of their expertise and a small amount of money from their pockets in exchange for equity. Sahil pitched for an amount of 1. 5 Crore for 1.25 % equity in the business, company valuation is 120 crore, which gave a shock to all the sharks. Sahil also justified the valuation with the fact that he has a soft interest from UK-based investors and commitment for high network individuals.

After the app’s demonstration and all, Anupam was first to speak and said that Sahil was not able to make a bridge between them. So, he went out. Whereas all the other four sharks of the tank, which include Ashneer, Namita, Aman, and Peyush, we were impressed with the idea and gave an offer of 1.6 crores for 16% equity where all of them would come together.

He wanted to give a counter but sharks said that it was non-negotiable, either they take it or leave it. Sahil left the deal and the pitch got closed.

Magic Lock:

Magic Lock manufactures a dench that is even smaller than an inch. Is it even visible? Yes, it is visible. Dench is a patent product that is kept inside the pipe which connects the cylinder to the stove. Dench detects the fluctuation means leakage and stops it immediately to avoid accidents.

Magic Lock Shark tank india
Magic Lock

Did you know it is illegal to do any changes to the LPG cylinder? So, is using Magic Lock also illegal? As per its founders, it is not because Magic Lock is used inside the pipe, not with the cylinder. It is basically focusing on the D2C ( Direct to Consumers)market. It costs only 10 rs per unit to make and is sold out for 70 rupees in B2B and 500 rupees in B2C.

Who were the founders of Magic Lock?

Dhananjay Bhatt is the founder of the Magic Lock, whereas Tejas Shah is the Co-founder and Zubin Bhatt is the supporting hand in business. Dhananjay Bhatt shared that 700 to 800 domestic accidents take place every year, industrial blasts in addition.

It took him 2 years to achieve his success as between the regulator and pipe, there is a very minor space. Working on that space with low pressure is very difficult. That’s how Magic Lock came in the business world.

Did Magic Lock get a deal on Shark Tank?

Magic Lock, a lifesaver, came on the show in season 1, episode 19 looking for an investment of  1.2 Crore in exchange for 8% equity, company valuation 15 Crore. After the explanation about the working of the product, sharks didn’t feel any magic in it.

Ashneer asked why they were there to which Dhananjay said that they had a vision, master product, and registered patent but not the skill to do business, marketing, creating distribution channel and all. Ashneer believed that no pipeline industry will allow them to put anything inside their equipment. Ashneer didn’t find it as a safe product and went out.

Aman also didn’t find it a consumer business and turned it down. Namita as usual said that she didn’t have any expertise, so she moved out. Anupam asked why they needed 1Crore to which Dhananjay said that they need it for the growth and expansion in the market. Anupam said that he works mainly in two segments, first is marketing and the second is Technology; so, he went out but he appreciated the work.

Peyush said that there was no guarantee that Dench will save lives by being put in pipelines and thus, he moved out. Peyush also said that he would take a call after the show, once they get clinical approval in hand.

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Related Articles:

Which companies presented in Episode 19?

In episode 19, Four companies came on the show. First was Ethik- live leather-free by Pankaj Khabiya and Bharat Ranka, Second was Brainwired by Sreeshankar and Romeo, Third was Keto India by Sahil Pruthi and Fourth was Magic Lock by Dhananjay Bhatt, Zubin Bhatt, and Tejas Shah.

Who are the investors in Shark Tank India?

  • Ghazal Alagh – Co-founder and Cheif Mama of Mamaearth
  • Aman Gupta – Co-founder and CMO of BoAt
  • Vineeta Singh – CEO & Co-founder of SUGAR Cosmetics
  • Ashneer Grover, Founder, and MD of BharatPe
  • Peeyush Bansal – Founder & CEO of Lenskart.com
  • Namita Thapar – ED of Emcure Pharmaceuticals
  • Anupam Mittal – Founder and CEO of Shaadi.com

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