(This is a regularly updating story. Come back for more updates after the show or join Shark Tank India WhatsApp Group for instant notifications after the episode goes live)
Episode 7 of Shark Tank India brings 3 brands- an early education program, a brand that developed an assistive device for the visually impaired, and a prepackaged Indian dessert brand. Checkout the exciting promo where Namita told one of the brands that they didn’t even need funding. Have a look below to find out:
View this post on Instagram
Table of Contents
- Raising Superstars-https://raisingsuperstars.com/india-page
- Raising Superstars Brief Profile & Company Info
- Raising Superstars Product Portfolio
- Raising Superstars Social Media Links
- Raising Superstars Ask from the Sharks in Shark Tank India
- Discussion: Did Raising Superstars Get Funding from the Sharks at Shark Tank India?
- Offers for Raising Superstars at Shark Tank India
- Final Verdict
- Torchit Electronics Pvt Ltd-https://mytorchit.com/
- Torchit Electronics Brief Profile & Company Info
- Torchit Electronics Product Portfolio
- Torchit Electronics’s Social Media Links
- Torchit Electronics ask from the Sharks in Shark Tank India
- Discussion: Did Torchit Electronics get Funding from the Sharks at Shark Tank India?
- Offers for Torchit Electronics at Shark Tank India
- Final Verdict
- La Kheer Deli (LKD) - https://lakheerdeli.com/
- Did you like Shark Tank India Episode 7?
- While you’re here
Raising Superstars Brief Profile & Company Info
“All kids are born geniuses. First 5 years of our life decides how the next 80 years turn out to be.”
– Bill Gates
Raising Superstars is an early education program that speeds up the rate of learning and growth in toddlers. As most of the ability and skill set are developed at the age of 5-6 years, the main aim behind Rising Superstars is to develop a prodigy baby application for children from 0-3 years.
Their main outcome is to enhance the child-parent bond with learning and fun activities.
Founders: Raghav Himatsingka and Shraddha Himatsingka
Raising Superstars Product Portfolio
- Prodigy baby app for children from 0-3 years to develop their skills that includes various packages.
Raising Superstars Social Media Links
- Instagram: https://www.instagram.com/raising.superstars
- Facebook: https://www.facebook.com/raisingsuperstars.in/
- YouTube: https://www.youtube.com/channel/UC8nf7NhVPDQFKiLUkmEknNQ
- LinkedIn: https://www.linkedin.com/company/raising-superstars
Raising Superstars Ask from the Sharks in Shark Tank India
1 Crore for 2%, Company valuation 50 Crores
Discussion: Did Raising Superstars Get Funding from the Sharks at Shark Tank India?
Raghav and Shraddha started by saying that they had 50 thousand parents, who joined them and trusted them in the very first year. During the program, we can also see a parent, Nikita and her baby Veer, for a little demonstration.
Ashneer asks: How did you both start it?
They immediately respond that their son is 3.5 years old and they started searching about kids activities. Shraddhha started offline consulting and their old company got closed down during the pandemic. So they started this initiative which is completely bootstrapping with no fundraising either. Raghav and Shraddha started with 20K Rs just one year ago and now they’re here.
Aman asked: Shouldn’t you actually cater kids above 1.5 years of age or at least 1?
There are 100 billion neurons getting stimulus and all are getting connected. The right connection will stay with you forever.
They also talk about Glenn Doman – father of early child development. There is an institute in the US where a child, 6 months of age, has the ability to swim. There is no link between developing early skills and later successes in life. It's been there for 50 years.
Shraddha and Raghav also stress that there is no no testing and no bench marking, they're not claiming to make the kids geniuses like Einstein or get them an IIT admission. Their solution is basically for parents to develop a kid-parent bond with fun activities and learning.
Anupam asked - What was your last month’s revenue?
1.10 Crores and cash in the bank for the last 11 months is 13 Crores.
What programs are available ?
- 1 week – Rs 500
- 3 months – Rs 7000
- 6 months - Rs 25,000
- 1 year – Rs 39,000
50 % of revenue comes from a 3 months program.
Vineeta asked - Are there people ready to pay 7K for 5 minutes a day program?
Gross margin 80 %
Shipment, cost of material is 20 %
Anupam shares 3 drawbacks:-
- Early adapters are early users
- Offline is not feasible now
- Online there is a lot of competition
Ashneer backed out.
Namita prefers to leave kids on their own for the first 3 years of life. This ideology doesn’t resonate with her as a mom, so even she withdraws.
But then Ashneer gave an offer. He felt that capability and segment is good but the app needs a lot of development.
Vineeta had no personal passion in this field so she didn’t offer anything. Aman suggested that the app is for parents and should include activities so children can engage directly too.
Offers for Raising Superstars at Shark Tank India
Offer 1: Ashneer’s offer - 1 Crore for 5 %
Offer 2: Aman’s offer - 1 Crore for 4 %
1 crore for 4% from Ashneer and Aman
Torchit Electronics Brief Profile & Company Info
In India there are millions of visually impaired people, who have to suffer a lot. Torchit electronics provides a solution for them by introducing their assistive device, which is made using sonar technology for the visually impaired.
This device vibrates when obstacles are detected in front of the person. It is 99.7% accurate and economically feasible to make life easier and help those in need.
Founder: Hunny Bhagchandani
USP: Visually impaired trainers training similar users
Torchit Electronics Product Portfolio
- Assistive device for the visually impaired that vibrates when it comes in contact with objects.
Shop at https://mytorchit.com/
Torchit Electronics’s Social Media Links
- Instagram: https://www.instagram.com/mytorchit/
- Facebook: https://www.facebook.com/torchitt/
- Twitter: https://twitter.com/TorchitLtd/
- YouTube: https://www.youtube.com/channel/UCpaU9HSj7cTaSDPIP05JFtg
- LinkedIn: https://www.linkedin.com/company/torchit/
Torchit Electronics ask from the Sharks in Shark Tank India
75 Lakhs for 1 % , valuation 75 Crores
Discussion: Did Torchit Electronics get Funding from the Sharks at Shark Tank India?
Ashneer starts the discussion by asking– Is it the only product in the world?
No, there are many, but this is the most accurate and affordable one. Competitors place 7k Rs, but Torchit Electronics provides this device for just 1500-200Rs.
Anupam asks: Why is your’s accurate and others not?
Torchit uses sonar technology (used by sharks) and algorithms have been patented. These devices are lab tested with an accuracy of 99.7%.
Aman asked if this was a one time purchase. To which they responded that they feel they can get 10 % of market share, which is 70 lakhs. After that, they need some other product. They are still in R&D for new products.
Shraddha and Raghav also introduced Jyoti, a new product, which will be a smart wearable glass with a camera, that can be tracked on mobiles and will get a signal in the ear.
Aman loved the idea and said that this is a game changer and this product is the best in terms of pricing.
There are other products available in the international market that start with 3 lakhs and will cost around 8-10 thousand Rupees. The founders also stated that NGOs for blind schools are their big buyers, more than 40%.
Namita asked - What are the sales?
Due to the pandemic, they have slowed down. But, they managed to generate sales of 1 Crore 10 lakhs, out of which 30 lakhs is profit. In this fiscal, they have sales of 2.26 Crores.
They also got an order of 1 lakh pieces from a private organisation just two months back, an 18 Crore 60 lakh order, a private institutes’ buyer through NGO.
(Anupam – Direct to consumer sales is jsy 1.2-1.5 lakh last month. Direct sales through 30 distributors pan India upto 7 lakhs and it varies. 11 distributors in Africa, 16-20 lakh order)-didn't quite understand this
Namita asked for high valuation?
He got funding earlier in oct 2019 with revenue 2 Crores.
Vineeta said she doesn't relate to organisational funding initiatives, so she backed out.
Namita and Aman – Equity is not favourable and they feel Hunny will easily get government support and generate money having huge order value. So they also withdrew.
Ashneer also said he was out.
Offers for Torchit Electronics at Shark Tank India
Offer 1: Anupam’s offer – 50 lakhs for 2.5% of D2C segment and 25 lakhs debt
Hunny counters - 50 Lakhs for 1 % and debt 25 Lakh
Hunny later rejected the offer from Anupam. The founder believed in his vision for growth and the future.
Torchit Electronics got nothing.
La Kheer Deli Profile & Company Info
Based in Pune, La Kheer Deli is a prepackaged kheer brand offering 9 different flavours of kheer and their brand ambassador is Kheerster.
The founders Shivang, Sonia and Shivika Sood from Sooduku food LLP, sell this Indian dessert offline as well as online, across different locations.
La Kheer Deli Product Portfolio
- Indian dessert - Kheer, available in 9 different flavours.
If you have a sweet tooth, shop for La Kheer Deli products at https://lakheerdeli.com/
La Kheer Deli’s Social Media Links
- Instagram: https://www.instagram.com/lakheerdeli/
- Facebook: https://www.facebook.com/lakheerdeli/
- Twitter: https://twitter.com/lakheerdeli
La Kheer Deli ask from the Sharks in Shark Tank India
50 Lakhs for 7.5%, valuation 6.67 Crores
Discussion: Did La Kheer Deli get Funding from the Sharks at Shark Tank India?
The founders started the discussion by talking about their previous sales and experience. Last 4 years they sold 4 lakh cups and customers are reoccurring.
The founders’ mom, who was a play school teacher, left her job and the three of them started making kheer. So initially they started selling Fri/Sat/ Sun, and on the first day they sold 44 units.
Anupam asks - Is the standardisation process done?
Yes, they said.
Namita asks - What is the shelf life?
The shelf life is 6 days. Cold chain of distribution is maintained through ice boxes. They are in the R & D process to blast freeze the product to increase shelf life by 3 months.
Vineeta exclaims that 3 months shelf life is too less for export business, so international business is out of question. Premixes have a shelf life of 1 year to be exported.
Anupam asks– What was last month’s sale?
6 Lakhs. Peak sale before the pandemic was 15 Lakhs. Anupam says that the distribution channel is weak and they should focus on premixes.
Ashneer says that dairy products have very less shelf life and small budget entrants will not survive in the long run. He also asks about their differentiator and suggests they try HORECA first, as it’s too early for brand formation.
Anupam says that he has a milk allergy and still likes their product so much. He didn't like the business growth strategy as the brand is a little confusing.
Namita said, she is also from Pune, so when they have premixes with 20 flavours, get in touch. And she backed out. Vineeta also withdrew.
Anupam said that if they premix segment, he will offer 50 lakh for 25 %. Anupam is out and asks them to grow their business organically.
Sharks commented about low shelf life and the need to pivot into the premix market if they want to grow their business.
Offers for La Kheer Deli at Shark Tank India
None of the sharks offered anything to La Kheer Deli.
Did you like Shark Tank India Episode 7?
While you’re here
Check out our recent posts on Shark Tank India
- Shark Tank India episode updates
- Shark Tank India format and tips
- Shark Tank India judges: all you need to know
- Who can participate in Shark Tank India