Shark Tank India 2 3rd January 2023 Written Update, Episode 2, Today's Start Ups
Shark Tank India 2 3rd January 2023 Written Update: Episode 2, SharkTank India 2023
Today's Shark Tank India 2 3rd January 2023 episode starts with Very Much Indian brand introducing itself in front of the Sharks.
Very Much Indian Paithani Saree Brand
Started by Slovly Gambhir and Manish Atri, Very Much Indian sells Paithani Saree.
Slovly begins with a beautiful storytelling session about Indian handlooms and announces she wants a deal for 50 lakhs at 3% equity.
Anupam Mittal, asks both of them how did they come together & Manish answers this, saying they are a married couple.
Very Much Indian's first year's sales are 16-17 lakhs and they now stand at 1.5 crores with a gross margin of 35%.
They are selling it for 1.0 lakh-1.5 lakhs as these sarees take 2-2.5 months to make and later both Namita and Vineeta try the sarees too.
Vineeta Singh advises them to focus on social media marketing along with Anupam who says they should do category marketing.
The deal finally closes with Namita and Aman's offer together standing at 50 lakhs for 10% equity at a valuation of 5 crores.
Watchout Wearables Kid Smart Watches
The second brand that comes to Shark Tank India 2 is Watchout Wearables, introduced by Divyajeet Baheti with his founder Uncle, Abhishek Baheti.
Abhishek introduces smartwatches that are exclusively made for kids with SIM insertion, workable without a phone, able to make video calls and audio calls to parents, etc.
Abhishek places his desire in front of the Sharks of 2 crores at 5% equity while Anupam asks him if there is another product like this for senior citizens.
Abhishek Baheti very gracefully shows the Sharks another variation of the Watchout Wearables which will be able to tell people whether their old folks have fallen or not and will measure their temperature, blood pressure, etc.
However, the Sharks let Abhishek know that they see a lot of loopholes in his strategy since the market size of this gadget is still not established.
Aman Gupta backs out from the deal, saying that Abhishek should lower the price as 10,00 rupees is a lot for an Indian household.
The same argument is quoted by Namita and Peyush and a deal is co-offered by Vineeta and Anupam together for 1 crore at 10% equity (5% each) at a valuation of 10 crores.
However, Abhishek makes a counteroffer for 1 crore at 7.5% equity.
The sharks do not agree and Abhishek finally accepts the offer of 1 crore at 10% equity (5% each) at a valuation of 10 crores.
He assures the Sharks that he will make sure they feel they made a wise decision.
SoupX India, Affordable Meal Based Brand
The third brand comes and introduces itself as SoupX, founded by Priyank Jain and Uttam Kumar.
Priyank tells the Sharks that they are currently offering 99 varieties of soups with healthy sides and their products are being offered on demand and via subscription too.
SoupX demands 75 lakhs for 6% equity at a valuation of 12.5 crores.
However, all the Sharks get disappointed when they taste their soups. Aman Gupta backs out from the deal first while Namita's complaint is that the soup is too sweet.
Vineeta then questions both Priyank and Uttam about the nutritional value of these soups but they do not understand her point thrice and keep telling her about the calorie reduction.
On top of this, Anupam corrects them about the value they are multiplying fat, carbohydrates, and proteins with and says they first need to establish their fundamentals correctly.
Peyush Bansal first asks the founders about their last month's sales which was 8 lakh rupees but backs out, saying he cannot add value to their company.
The 3 sharks back out with Vineeta remaining who notices how hungry to work these both people are.
She makes an offer of 50 lakhs for 20% equity with 25 lakhs as debt at 12% with a valuation rounding to 2.5 crores.
However, SoupX makes a counteroffer for 50 lakhs at 18% equity at Vineeta Singh happily accepts it, saying health is wealth.
End of today's Shark Tank India Season 2 3rd January 2023 written update.
To download Shark Tank India Season 2 all episodes or watch today full episode (3 January 2023) online, go to sonyliv.com