In episode 26, Three companies came on the show. First was Isak Fragrances by Vidushi Vijay Vergiya, Second was Julaa Automation by Jay, Ramesh Kumar, and Chandrakant Bhai Patel and Third was Rare Planet by Ranodeep and Vijay Kumar.
At the end of the episode, the shark lesson of the day was given by Vineeta about Brand name that brand should show emotions in it, it should make a connection with the customers, rather than putting USP in brand, try to build emotion in it.
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Isak Fragrances:
Isak Fragrances is a perfume and Itar /Atar manufacturing business. Isak Fragrances was started by its founders as customized, collection-based, artisanal, and Unisex. Isak takes the orders through its own websites. Isak means Ishq. Isak makes long-lasting perfume and Atar. Isak Fragrances is a brand from Lucknow.
Who were the founders of Isak Fragrances?
Vidushi Vijay Vergiya is the founder of Isak Fragrances. Vidushi belongs from Lucknow and she had lived in perfume and Atar fragrances since her childhood. For the last 160 years, her family is in the same business. After her marriage, she went to Switzerland and France from where she learned more about this and decided to start something fresh off her own and started Isak. During its initial stage, her parents were not supporting her but later, they started supporting her.
Did Isak Fragrances get a deal on Shark Tank?
Vidushi came on the show Shark Tank India in season 1, episode 26. Vidushi asked for an investment of 50 lakhs for 8% equity in the business, company valuation 6.25 crore. After the demonstration and using the samples, sharks were very impressed with the products. But the pricing of the pack is quite high to which Ghazal said that due to the pricing factor, she went out.
Vineeta said that Isak cannot be a brand, and suggested her to change the name of her business and make it something comfortable for everyone and went out. Anupam said that he didn’t find it as a business and went out. Namita felt brand building is difficult with this product and went out.
Peyush said that he could help her and gave an offer of 50 lakhs for 50% of the company which shocked Vidushi. Vidushi shared that her Aunty is her partner to which Peyush said deal and decision making would be done among two of them only and if she was ready to do so, he would sign the check. Vidushi took a moment and accepted the deal for the same offer of 50 lakhs for 50% of the company.
Julaa Automation:
Julaa Automation is the manufacturer of Julaa which works with the help of smartphones. It can be connected via Bluetooth and can be operated easily. In just 15 sec, it reaches its top speed. The product came with an automated light and fan. This Julaa can also measure the weight of a baby and can be opened from one side which can help children of up to 6 to 7 years to sit and play comfortably.
This Julaa has a music system inside which can sing lullaby for a newborn. If a baby pees on the crib, it will notify the phone of the parents. Currently, Julaa Automation is at the prototype stage and has received its patent.
Who are the founders of Julaa Automation?
Ramesh Kumar, Chandrakant Bhai Patel, and Jay Umertiya are the founders of Julaa Automation. When Ramesh had his child, he was very disturbed with the crib part. Julaa is a product in which we can keep our newborn baby. Ramesh had to do the crib part to which he went to Chandrakant and asked him to make an automated Julaa. From there, they started working on this project for solving the problems and Julaa Automation came into the market.
Did Julaa Automation get a deal on the Shark Tank?
Julaa Automation came on the show in search of investment of 50 Lakhs for 10% of the company, company valuation is 5 crore. After the demonstration, Anupam asked about the cost to which he said that if they made it in multiple of 100, it’ll cost them 35,000 per unit and they are planning to sell it for 80,000 to 1 lakhs.
These numbers completely made sharks in chaos for investment. Vineeta said that it had a lot of features that were not even necessary and went out. Namita gave a suggestion to the entrepreneur not to put all their life savings in new innovation they were not sure of and went out.
Peyush suggested them to go to an alternative company and take orders from there. Ghazal said that pricing was very high due to which, she turned down. Anupam said that he didn’t agree with all other sharks’ opinions about the addition of some features as he had faced the same problem with his child but didn’t invest due to manufacturing and selling price. Julaa Automation founders asked Peyush to give them the contact of alternative company to which he said that he would help them.
Rare Planet:
Rare Planet is a retail-based start-up launched in the year 2017. Rare Planet sells and promotes handicrafts designed products from offline to an online platform. Rare Planet created employment for locals. Rare Planet started their work firstly with Kulhads and with ongoing time, it started expanding. Currently, Rare Planet works with handicrafts, stationery, jewelry, bottles, brass, wood, and marbles.
Who were the founders of Rare Planet?
Ranodeep is the founder of Rare Planet. Ranodeep holds a degree in B.Tech from the Indian Institute of IT. Vijay Kumar is the co-founder of the company that joined the business in 2019. Founders of Rare Planet take bulk orders and pass them to the local handicrafts and pay them for this.
Did Rare Planet get a deal on the Shark Tank?
Rare Planet came on the show in season 1, episode 26 in search of an investment of 65 lakhs for 1% equity in exchange for business. To expand their business and open more stores in Airports and malls, they ask for an investment from the sharks. Namita said that she was a fan of their product. She had also visited their store a few days back and gave them an offer of 65 lakhs for 5% of the company.
Peyush said that he didn’t feel that it would work on the Airports and went out. Vineeta also felt the same way and didn’t find it scalable and went out. Ghazal and Anupam were also not much impressed with the products and went out. Namita was the only one left and the deal was made at 65 lakhs for 3% of the company.
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Which companies presented in Episode 26?
In episode 26, Three companies came on the show. First was Isak Fragrances by Vidushi Vijay Vergiya, Second was Julaa Automation by Jay, Ramesh Kumar, and Chandrakant Bhai Patel and Third was Rare Planet by Ranodeep and Vijay Kumar.
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