Shark Tank India Season 2 Episode 2: Very Much Indian, Watchout Wearables, SoupX
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Shark Tank India's Season 2 Episode 2 brings 3 exciting brands- traditionally Woven Ethnic Saree brand, a smart watch brand for children, a healthy soup brand.
Check out the exciting promo where all the sharks are set to fund an inspiring entrepreneur. Have a look below to find out:
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Table of Contents
- Very Much Indian
- Watchout Wearables
- Watchout Wearables Product Portfolio:
- Watchout Wearables Social Media Links:
- Watchout Wearables Ask from the Sharks in Shark Tank India
- Discussion: Did Watchout Wearables Get Funding from the Sharks at Shark Tank India?
- Offers for Watchout Wearables at Shark Tank India
- Final Verdict: How Much Did Watchout Wearbles Get at Shark Tank India Episode 2
- SoupX
Very Much Indian
Based in Yeola, Maharashtra, the brand traditionally weaves Ethnic Sarees. The brand offers sarees in various fabrics like cotton, linen, silks and blended with artistic motifs like peacock, kashida etc on sarees.
Founders: Slony Gambhir and Manish
Very Much Indian Product Portfolio:
- Paithani Sarees
- Resham Khun Saree
- Pure Silk Saree
- Pure Cotton
- Linen
- Bandhani Sarees
More info at https://www.verymuchindian.com/
Very Much Indian Ask from the Sharks in Shark Tank India
₹50 Lakhs for 3% Equity
Pitch: Did Very Much Indian Get Funding from the Sharks at Shark Tank India?
The discussion started when Slony explained about handloom and traditional sarees, especially Paithani sarees. Vineeta and Namita tried on two different sarees which really looked pretty.
The brand's sales figures were as below
- First year sale - 16-17 lakhs
- Second Year - 20 lakhs
- FY 20-21 - 65 lakhs
- Projection for this year is 2 crore
Offers for Very Much Indian at Shark Tank India
Offer 1: Namita: ₹50 Lakhs at 10% equity Valuation - ₹5 Crores
Peyush, Vineeta, Anupam were out because Namita had already offered. Also, Anupam says that GenZ does not care about the saree, so you will have to market your category.
Offer 2: : Namita and Aman: 50 Lakhs for 10% equity, Valuation - 5 crores
Counter offer by Manish and Slony - 75 Lakhs for 10% equity
Final Verdict - How Much Did Very Much Indian Get at Shark Tank India?
75 lakhs for 10% equity valuation - 5 crores, deal closed by Aman and Namita
Watchout Wearables
A child’s smartwatch brand that promises safety, curiosity and connectivity.
Founder: Abhisek Baheti
Watchout Wearables Product Portfolio:
- Next Gen Kids Smartwatch
- Senior Citizen Smartwatch
More Details at https://www.watchoutwearables.com/
Watchout Wearables Social Media Links:
- Instagram: https://www.instagram.com/watchoutwearables/
- Youtube: https://www.youtube.com/channel/UCAuQtaTnRQ32xEqDbDVjiZA
- Facebook: https://www.facebook.com/WatchOutWearables
- Twitter: https://twitter.com/WatchOutWear
Watchout Wearables Ask from the Sharks in Shark Tank India
2 crores for 2% equity at a valuation of INR 40 Crore.
Discussion: Did Watchout Wearables Get Funding from the Sharks at Shark Tank India?
The discussion started where Divyajeet was a customer who introduced the utility of the product.
Key Highlights
Aman suggested putting down the price of the watch will increase your market. Namita asks to focus on safety and reduce useless features in the watch
Offers for Watchout Wearables at Shark Tank India
Offer 1: Anupam and Vineeta: 1 crore for 10% equity & 1 crore debt @ 15% interest
Counter offer by founder - 1 cr for 5% equity - valuation - 20 cr
Anupam and Vineeta are not convinced so the founder gave another counter offer 1 cr for 10% equity & 1 cr debt @7.5% interest
Final Verdict: How Much Did Watchout Wearbles Get at Shark Tank India Episode 2
1 crore for 10% equity & 1 crore debt @ 15% interest from Anupam and Vineeta.
SoupX
Fresh, calorie-conscious, zero preservatives soup brand. Started in December 2021. SoupX offers 99+ variety of healthy soups and is available on demand or through subscription.
Founders: Priyank Jain and Uttam Kumar
SoupX Product Portfolio:
- Soups
- Sandwiches
- Salads
- Whole Wheat Pasta
- Smoothies
- Oatmeal
More details at https://www.soupx.in/
SoupX Social Media Links
- Instagram: https://www.instagram.com/soupxindia/
- Pinterest: https://www.pinterest.com/soupxindia/
- Twitter: https://twitter.com/soupxIndia
- LinkedIn: https://www.linkedin.com/company/soupx-sip-of-health/
SoupX Ask from the Sharks in Shark Tank India
75 lakhs for 6% equity
Discussion: Did SoupX Get Funding from the Sharks at Shark Tank India?
The discussion started from Priyank and Uttam Kumar background and from where did they get the idea of offering healthy soups to people who are looking for a healthy alternative to maintain their healthy lifestyle.
The sharks tasted the soup and Aman did not like the taste. Anupam said that they need to work on their fundamentals as they do not have that much knowledge to continue in the health business.
Namita found it too sweet. Peyush and Vineeta liked their soups.
Vineeta wanted to know their soup's nutritional value and the founders were not able to understand the question. Anupam was not impressed by their knowledge on the health industry.
Knowledge quotient was low to be in the health industry and the facts stated by the founders were wrong.
The whole pitch felt like a last-moment exam preparation, where founders were not clear about their fundamentals. Though they shared their sales figures, which were as below:
Sales last year - 8 lakhs
last to last year - 7 lakhs sale
Year before - 5.9 lakhs
The brand is available on Swiggy and Zomato, which accounted for 80-85% sales share. The gross margin stood at 45%, as informed by the founders.
But due to their expenses, they were burning a lot of money, approx 1-1.5 Lakhs and founders resorted to moonlighting to sustain their business.
Peyush was impressed by the innocence of the founders but other sharks were not convinced.
Aman was not impressed because of the burn ratio. Namita did not offer because of shallow knowledge, she finds the soup too sweet
Vineeta was out because she did not find the conviction because they moonlight instead of trying to spend more time on growing the business.
Offers for SoupX at Shark Tank India
Offer 1: Vineeta’s offer: 50 lakhs for 20% equity & 25 lakh debt @12% interest, Valuation - 2.5 crores with a condition that founders will work full time on the business. She advises you to learn about the health industry. Gain more knowledge.
Counter offer by the founders: 50 lakhs for 18% equity, 25 lakh debt for 12 interest
Final Verdict: How Much Did SoupX get at Shark Tank India.
50 lakhs for 18% equity, 25 lakh debt for 12 interest from Vineeta.
