Shark Tank India Episode 16 - Bamboo India, Flying Fur, Beyond Water, Let's Try
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Shark Tank India’s episode 16 brings four brands to the tank. Three out of four were dedicated to healthy and sustainable living. Bamboo India manufactures a sustainable range of toothbrushes using Bamboo, Beyond Water wants to make drinking water more fun, healthy and tasty, and Let’s Try is trying to make you binge on snacks and satiate your cravings - guilt-free. The fourth one, a surprise entrant - Flying Fur is a mobile grooming service for pets in India.
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Table of Contents
Bamboo India - www.bambooindia.com
Bamboo India Brief Profile & Company Info
First brand in India to launch Bamboo Toothbrushes
Bamboo India started with a mission in 2016 - to change the perception of Bamboo as poor man’s timber to wise man’s choice. The brand provides a sustainable alternative to plastic products like toothbrushes, earbuds, gifting products, etc. using bamboo as their raw material.
The brand has a social entrepreneurship angle that supports rural artisans to grow while making bamboo a preferred alternative to plastic products in India.
They gave a great pitch around plastics waste problem due to toothbrush (first toothbrush ever produced is still not decomposed).
The brand manufactures 100% bamboo-made, easily combustible toothbrushes. Till date, they’ve manufactured 40L+ toothbrushes and delivered to 18+ countries globally and 250+ pincodes in India.
The brand products are available on own website, Amazon, Flipkart and 300+ offline retail shops all across the country.
- Manufacturing Capacity: 50k brushes per day (Started with 100 brushes per day in 2015)
- Cost of Brush: 15/-
- MRP of Brush: 45/- (brought down from 180/- in 2015)
- Founders: Yogesh & Ashwani Shinde
Bamboo India Product Portfolio
- Bamboo Toothbrushes
- Tongue Cleaners
- Razors
- Mobile Speakers
- Pens
- Comb
- Travel Kits, and more
Shop for Bamboo India Products at: https://www.bambooindia.com/shop-now/
Bamboo India Social Media Links
- Facebook: https://www.facebook.com/BambooIndia
- Instagram: https://www.instagram.com/bambooindia/
- Twitter: https://twitter.com/bambooindia/
Bamboo India Ask from Sharks in Shark Tank India
Ask: 80L for 4%
Discussion: Did Bamboo India Get Funding from the Sharks at Shark Tank India?
Anupam asked about background:
The founder was an IT professional. Was working in Germany and got many awards for creativity. He came back to India and wanted to use his creativity to do something for the country. Took a break for 1 year. It's been 5 years since then./
Anupam asked why bamboo?
Pune is the hub for Bamboo as per the founder. Additionally, India is the world’s second largest bamboo growing country. We are wasting the potential opportunity.
We were the first in India to launch a bamboo toothbrush in 2015.
In the beginning the brand was handcrafting the bamboo brushes. Then, one of the two market leaders in the toothbrush segment (with 40% market share in India) backed them to help build capacity (and capability) to manufacture the brushes. Now, they’re manufacturing GMP-compliant brushes. The brand is now an OEM for one of the market leaders in Toothbrush categories.
The bristles on the brushes are one of the world’s softest and called Nano bristles.
The sharks ask about the cost of the brush.
Initially, the selling price was 180/- per brush in 2015 but years of improvement brought down the MRP to 45/-. Their cost price per brush is INR 15/- only.
Namita asked about the reasoning behind a high valuation
The founder revealed their sales figures:
- Sales Last Year - INR 2.8 crore
- Sales This Year (2020-21 Till October Mid): 2.2 crore
- Projected Year-end Sales: 3.8+ Crore
Anupam asked about Ashwani’s role. She takes care of administrative tasks and order fulfilment and management via online platforms.
Peyush asked what;’s the endgame and the goal for Bamboo India. Do they want to just whitelabel or build their own brand?
Yogesh answered that whitelabeling is working great for them right now. As they’re enjoying brand awareness now (and awakening towards green living), they are thinking about brand building for Bamboo India.
Namita said that if they are looking for brand building in D2C, Aman’s offer (first offer of 20L for 4% equity + 60L debt) is better and she gets out
Peyush thinks core focus should be manufacturing excellence. Margins will improve then. And then only they should spend on marketing and brand building.
Anupam says - I have been building a brand for 20 years. Can help with that.
Aman said the brand needs automation expertise from Peyush (for capacity enhancement) and he knows how to build a brand. They came together for a combined offer (and revise his initial offer)
Offers for Bamboo India at Shark Tank India
Offer 1: Aman gave first offer: 20L for 4% equity + 60L debt
Offer 2: Peyush: 80L for 20% of the company (full equity deal)
Revised Offers
- Revised Offer 1: Ashneer and Anupam : 40L debt + 40L for 8% equity
- Revised Offer 2: Aman and Peyush clubbed their offer together: 80L for 20L (40L each from Aman and Peyush)
The founders went out of the tank to think over it.
Counter offer from the founders: 50L for 3% + 30L debt
Anupam and Ashneer countered: 50L for 6% equity + 30L debt (Anupam and Ashneer)
Peyush counters: 50L for 5% equity + 30L debt
Ashneer counters: 50L for 4% equity + 30L debt
Aman counters: 50L for 4% equity + 30L debt
Ashneer: 50L for 3.5% + 30L debt
Peyush and Aman are out.
Final Verdict
30L debt + 50L for 3.5% equity from Ashneer and Anupam
Flying Fur - www.flyingfur.in
Flying Fur is a mobile pet grooming service that brings a grooming van (truck) to the doorsteps of the pet parent. Provides complete grooming and cleaning services for the pet.
Source: Flying Fur Website
The brand claims to be India’s biggest mobile pet grooming chain and works on a franchise model with a centralized hotline and a website for taking pet-parent grooming requests.
This short (and furry-friends infused) pitch was a surprise on Shark Tank India. We have seen only 3 pitches per episode till date.
Flying Fur Social Media Links:
- Instagram: https://www.instagram.com/flyingfurindia/
- Facebook: https://www.facebook.com/flyingfurindia/
Flying Fur’s Ask from Sharks in Shark Tank India
75L for 7%
Discussion: Did Flying Fur Get an Investment from the Sharks at Shark Tank India?
Anupam asked for monthly sales figures of the brand.
The founders responded with a clear number - 2.5l-3L per month
Peyush asked about the difference in cost from conventional grooming providers. The founders informed that the unorganized (and stationary) grooming services charge anywhere between 500-1500/- and our services go up to 3500.
Namita asked about repeating customers. They have a total of 15000+ pet parents as their customers with a high repeat rate of 50-60%
Aman asked about how one can take an appointment. Flying Fur founders replied that they have a centralized call center from which the majority of appointments are made. They don’t have any app right now but also take appointments via their website.
Aman questioned if there is even a need for such a service in India. Anyone can groom their pet (bathe and wash them) at home also.
Ashneer asked why the brand didn't think of becoming a one stop solution - grooming, vet, products, etc. and thinks that the brand is just a pure operations play. He went out.
Aman didn’t think that he is the right person because he is passionate about pets and he also gets out.
Namita also gets out because she doesn’t have any expertise in this space.
Peyush also gets out. But he feels that there is a need for such a service. Appreciates the founders and motivates them to keep doing it.
Anupam says he is also out but wishes good luck to the team.
Offers for Flying Fur at Shark Tank India
None
Final Verdict
No investments done by the sharks
BeyondWater - www.drinkbeyond.co.in
Beyond Water Brief Profile & Company Info
Beyond Water is India’s first liquid water enhancement (Flavor+nutrition) brand.
The brand provides flavor enhancers for water that also improves the nutritional quotient of water.
Building a water drinking habit is hard in busy lifestyle. The brand wants to make India love the idea of drinking water through its range of products. You just add few drops in a glass of water and get flavor and nutrition that you love (and need).
The pitch started with the information that humans need 3-4L water per day to drink. But people forget to drink water. And people keep drinking soda, aerated water, juices, etc. which is unhealthy.
With a small bottle one can create up to 5L of final drink - 24 servings in total
- Founders: Sachi Singhania & Devang Singhania
Beyond Water Product Portfolio
- Vitamins
- Electrolytes
- Cocktail Mixes
Shop for Beyond Water Products on: https://drinkbeyond.co.in/collections/all-products
Beyond Water Social Media Links
- Instagram: https://www.instagram.com/beyondwater.in/
- Facebook: https://www.facebook.com/beyondwater.in
Beyond Water Ask from Sharks in Shark Tank India
75L for 4% equity
Discussion: Did Beyond Water Get Funding from the Sharks at Shark Tank India?
Sharks liked the taste- lemon, mango peach, ginger lime (with electrolytes) and orange flavor.
But Peyush commented why to put this in water. I would drink water without even mixing anything
Peyush said that this is not healthy due to the use of Stevia as a sweetener.
The founder told the sharks that they use all-natural Stevia in small quantities (not needed heavily like in SugarFree or similar OTC pills).
Aman says that you only make water tasty. But the founder informs the sharks that this also makes water nutritious.
Namita questioned about the price point (300 INR) which creates only 25 servings.
The founder tells that the cost-efficiency is great - It costs only 13/- per serving (which is competitive if compared to prepared drinks in the market)
Anupam also says the cost is an issue and feels this is a product only for the rich.
Ashneer asks about the sales
10-12L last month
Ashneer asks how it will solve the problem of the habit of drinking water? The drive to drink won’t come with this product. One will have to take an additional step to pour this into the glass. So, there isn’t any utility or purpose for the product. He feels that the product is gimmicky and is out.
Anupam asks the founders to be honest and tell how much water they drink everyday? And if they use Beyond Water themselves?
Devang replied that he doesn’t use the product for 4-5 litres a day but uses it for drinking 2-3L of water.
On this Peyush commented that he is consuming too much stevia on an everyday basis.
Namita shared her thoughts after this. She thinks that cocktail mixers are a big market (which the brand is about to launch).
Namita and Aman give a combined offer. Namita would help with increasing the product’s nutritional value and Aman would help the brand with D2C marketing.
Anupam asks if you are interested in a full-equity offer after Namita and Aman give a mixed (equity+debt) offer.
But Aman says that his offer won’t wait for long.
Peyush says that he doesn’t want to invest. Because, this direction (and the brand) is not going in ‘water enhancer’ direction but going in the ‘mixers’ direction. (with Namita and Aman). So, he is out.
Offers for Beyond Water at Shark Tank India
Offer 1: Aman and Namita - 50L for 20% equity + 25L debt @ 12% Interest
Revised offer: 75L for 20% equity (after Anupam gives an inkling for an offer)
Counter offer (Founder): 75L for 10% equity
Aman and Namita are not interested. They say that they can hear other offers. Anupam is ready to give the offer. But because Aman and Namita are barging in again and again. So, he is out.
Revised Offer from Namita and Aman: 75L for 15%
They accept the offer.
Final Verdict
75L for 15% from Aman Gupta and Namita Thapar
Lets Try - www.earthcrust.co.in
Let’s Try (Earth Crust) Brief Profile & Company Info
Let’s Try by Earth Crust is a premium and healthy snacking range that wants to offer a healthy way to satiate India’s snack cravings. It offers 50+ varieties of healthy and delicious snacks - all made from healthy grains like ragi, millets, sharbati wheat, flaxseed, etc. We use groundnut oil with zero additives.
The brand is available in gourmet and select offline stores like Rajmandir, Krishna, Max Bazaar, Raunak Bazzar in Delhi NCR. Its products are also available on Big Basket and Amazon and 600+ offline stores.
- Founders: Nitin Kalra, Chitra Gupta, Neelam Kalra, Geetanjali
Let’s Try Product Portfolio
- Snacks
- Namkeens
Shop for Let’s Try Products at: https://www.earthcrust.co.in/shop
Let’s Try Social Media Links
Let’s Try Ask from Sharks in Shark Tank India
45L for 2% equity
Discussion: Did Let’s Try Get Funding from the Sharks at Shark Tank India?
Anupam says that the brand’s products are not healthy per say, but healthier than other alternatives (owing to having a fried base).
Namita loves the packaging and asks about the founder’s kid’s condition of Thalassemia. (which prompted them to build a healthy snacking brand). The founders tell that is an alternative for healthy snacking among kids.
But Namita says that the base is fried after all and the products are not exactly healthy
The founder says that they are continuously improving the products. Now they have air fried foxnuts as a product which has registered great sales in the recent months.
Ashneer is concerned about any visible USPs of the brand and asks about the differentiator from other brands like Haldirams. He also enquires about about the pricing.
The founders inform that their pricing is higher than Haldiram’s products.
The sharks asks about the gross margins to which the founders reply that they have a gross margin of 55-60% and a net margin of 25-30%.
Peyush says that he has made his final decision. He is already in a competitive business so he is out.
Ashneer says that he is always excited for this space - healthy snacking. But he feels that there is no differentiator here in this brand. The sales are not enough to extrapolate (can’t imagine or forecast anything right now). He is out.
Namita says there is no USP and because of the fried base, she is out.
Anupam asks about distribution - where are the sales coming from?
The founders inform that 60% of their sales come from modern trade.
They have a 25% net profit out of 16L sales
Anupam also asks about how will the working capital be financed?
The founder informed Anupam that he took a loan of 80L and created FD to handle the working capital requirements.
Anupam says that he is interested in this category and the business can grow big. He’d like to make an offer. Aman comes together for an offer.
Offers for Let’s Try at Shark Tank India
Offer 1: 25L for 10% equity + 20L as a loan from Anupam Mittal and Aman Gupta
Founder says if he can get a better offer. But Anupam feels there is too much work left in marketing and branding (and differentiator side). So, he won’t cut down the offer.
Revised Offer: 25L for 10% equity + 20L as a loan from Anupam Mittal and Aman Gupta.
The founder doesn’t want any more debt.
Revised offer: 45L for 15% equity
Counter offer from Founders: 45L for 10%
Anupam and Aman are ready to close the deal at 12% for 45L
Final Verdict
45L for 12% from Anupam Mittal and Aman Gupta
Did you like Shark Tank India Episode 16?
Today's episode was kind of Googly bouncer. Instead of three pitches, we saw four pitches in total. Though the fourth pitch (Flying Fur) was short, it felt a bit rushed and extra. What do you think about it? Let us know in the comments section.
While you’re here:
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