In episode 27, four companies came on the show. First was Theka by Bhupinder Madaan, Second was Cov-tech Ventilation by Nihaal Singh Adarsh, Third was Aliste Technologies by Shreyash, Konark, Aakarsh, Anant, Udit, and Bhavya, and Fourth was Insurance Samadhan by Deepak Bhuvneshwari Uniyal, Shilpa Arora, and Ravi Mathur.
At the end of the episode, the shark lesson of the day was given by Ghazal that one should not be scared of failures. Learn, try again and be successful.
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Index:
Theka:
All the cafes serve the same type of coffee with a smile. Theka is a brand that roasts its own coffee beans and it is served chilled in beer bottles. It is a new generation cafe and the founder wants to change the coffee industry. It can be made ready in 59 seconds. It is 100% arabica beans, the most premium type of coffee beans, and sold for Rs. 100. Three kiosks have sold more than 3 lakh bottles till now. One keg has a 3-month shelf life and one bottle has a shelf life of 3 days. It is totally handmade and thus, fixed capital is low
Who are the founders of Theka?
Bhupinder Madaan from Ahmedabad is the founder of Theka. Â He has been doing small businesses since he was just 14 years old. He had been involved in the businesses of momos, social media marketing, paratha, etc. Currently, he is 27 and has been working with Theka for the last three years. He is a sole proprietor and this is his full-time business.
Did Theka get a deal on Shark Tank?
Bhupinder Madaan came on season 1, episode 27 of Shark Tank India with Theka with a pitch of 50 lakhs for 10% equity. All the sharks tasted the coffee and absolutely loved the taste. Namita was the first to go out because she was not confident about the shelf life. Vineeta did not find the business scalable and she found it complex. So, she was out. Food and offline business models are not Ghazal’s expertise and that is why she was out.
Anupam said that beverage is difficult to distribute and is not differentiated. That is why he was out too. Peyush complimented him for the path he was following and suggested he should make the product more central and use more automation. He was out too. Therefore, Bhupinder was wished luck and there was no deal made.
Cov-tech Ventilation:
Workers in the healthcare, chemical industry, and pharma industry work very hard-wearing PPE kits for nearly 12 hours every day and this is a huge problem because it can be highly uncomfortable and hot. To solve this problem, a company named Watt Technovations devised a highly compact, ergonomic ventilation system for PPE kits- Cov-tech Ventilation. It is a small, fan-like device that can be plugged and played in the kit and can provide coolness to the wearer.
Who are the founders of Cov-tech Ventilation?
19-year-old Nihaal Singh Adarsh, an electronics engineering student, is the founder of Watt Technovations. Nihaal has always been an innovator. His mother is a doctor and he decided to solve the problem that she and many like her, have to face by wearing PPE kits. He wants to establish a tech company to invent an affordable solution for several problems faced by the common people and help many.
Did Cov-tech Ventilation get a deal on Shark Tank?
Nihaal came on Shark Tank wearing a PPE kit. He revealed that he had worn it for just an hour but when he removed it, he was drenched in sweat. He portrayed the problems of many workers. His pitch was of a really small amount. It was only for Rs. 101 for 2% equity.
Peyush advised Nihaal to channel the innovation. He was ready to offer Rs. 1100 but he wouldn’t accept 2% equity. He even gave Nihaal his phone number so he could reach Peyush and Peyush would be the first to invest in his future business. Ghazal found the continuous sound coming from the device annoying. She offered her mentorship any step of the way, whenever he needed it.
Anupam said that Nihaal had to understand the critical aspects of the industry in deep. He found Nihaal to be mature and it was impossible to say no to him and thus, he was ready to offer. Namita didn’t think that the product would work but she was ready to offer him alone or collaborate with Anupam because they trust Nihaal as to him inventing something great in the future.
Vineeta found this business complicated and not scalable but she also had faith in Nihaal and was even ready to adopt him. Nihaal raised the equity to 4% and Ghazal, Peyush, Anupam and Namita offered him Rs. 101 for 4% and kept a condition that all the future innovations will be under Watt Technovations. Nihaal was also offered an exclusive MBA course by UpGrad.
Aliste Technologies:
Aliste Technologies make a house, a smart home. It can automate all the appliances available in the house. It is a debit card size device that can be plugged in behind the switch and all the appliances can be controlled through a mobile application. It follows B2B as well as B2C business models. It costs Rs.12,000 for a 5 switch system.
Who are the founders of Aliste Technologies?
Shreyash, Konark, Aakarsh, Anant, Udit, and Bhavya are the founders of Aliste Technologies. They studied together in college and joined hands to start the business.
Did Aliste Technologies get a deal on Shark Tank?
The founders demonstrated their product through a small, fun skit. The sharks also tried the product themselves and liked it. Peyush didn’t find the technology to be new. He thought that they should devise something more affordable by manufacturing at a vast scale and he was out. Vineeta also followed suit because she didn’t find the business scalable and it was irrelevant to her.
Namita complimented their enthusiasm but did not find the product relevant and she went out too. Ghazal agreed with Peyush and was out. Anupam said that they might get cornered by a big tech but to help them for financing the gap, he offered 10 lakhs for 10% equity and 50 lakhs at 12% interest.
The 6 co-founders took some time to discuss and countered with an offer of 85 lakhs for 10% equity. Anupam did not accept the deal, said that he was confident in the boys but not in the business. They went out without any cheque but with smiling faces.
Insurance Samadhan:
All types of insurance help in the worst of times. But the problem of fraud and mis-selling of insurance has become a common problem in the country. Insurance Samadhan, like its name, solves this problem. In the last 3 years, it has solved more than 14,000 problems and has recovered more than 30 crores claim amount. It is a great initiative to solve such a big, existing problem. It is Asia’s only start-up that offers General, Life, and Health Insurance.
Its official website and WhatsApp chatbot can be used to get help. Out of all the problems that come to them, they accept 5 to 7% of the cases and accept 12% as a success fee, after the problem is solved. The resolution can take 45 to 60 days or sometimes a few hours also and the success rate has been 70%.
Who are the founders of Insurance Samadhan?
There are five founders of this company- Deepak Bhuvneshwari Uniyal, Shilpa Arora, Ravi Mathur, Suresh, and one more, whose name was not revealed. Some of them have experience in the field of insurance for over 45 years. Deepak, Suresh, and Shilpa used to work in Max life Insurance. In 2014, one of Delhi police officers’ 72-year-old fathers complained to them about his 38 lakhs premium amount being hoarded in 6 years. They brought all his money back in just a few months.
Did Insurance Samadhan get a deal on Shark Tank?
Deepak, Shilpa, and Ravi came on Shark Tank to pitch for 1 crore for 1% equity, valuation was 100 crore. Vineeta congratulated them on their work. They told the sharks that there was no competition in Asia against them.
Namita found bad debts to be a huge problem, even though the founders told them that they didn’t have any yet. Namita was out because she found the valuation unjustified but agreed with their increasing revenue and scale. Anupam liked the team but was doubtful about the scale and thus, he was out. Ghazal said that the working capital will keep on increasing in the future. So, she was out too.
Peyush was interested because he believed it was a technology-based company. So, he offered 1 crore for 10% equity. Vineeta thought that it was a very common problem, she loved the team and thus, she offered 1 crore for 25% equity. The founders countered Peyush with an offer of 1 crore for 1.3% but Peyush countered with a non-negotiable offer of 1 crore for 5%.
The team took a moment to discuss and offered 1 crore for 2.5% but Peyush offered 1 crore for 4% and it was his last offer. All the sharks started convincing the team to accept it and the deal was done. Cashfree Payments offered them free credits for transactions worth 30 lakhs.
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Which companies presented in Episode 27?
In episode 27, four companies came on the show. First was Theka by Bhupinder Madaan, Second was Cov-tech Ventilation by Nihaal Singh Adarsh, Third was Aliste Technologies by Shreyash, Konark, Aakarsh, Anant, Udit, and Bhavya, and Fourth was Insurance Samadhan by Deepak Bhuvneshwari Uniyal, Shilpa Arora, and Ravi Mathur.
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