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15 Feb 2023
15 Feb 2023
Episodes 29 and 30 of Shark Tank India season 2 show the investments given to Mahantam, MindPeers, Daryaganj, and DVECK.
This blog shows the innocence, enthusiasm, and dedication of the founders of Mahantam who came up with the vision to install their machine at every Tea stall in India and serve everybody with a hygienic cup of Tea. The founders of MindPeers conveyed the importance of mental health in day-to-day life. The founders of Daryaganj conveyed the history and origin of Butter Chicken and Dal Makhani. The founder of DVECK showed his immense love for Cycle and came up with the vision to make DVECK a household name so that it reaches his estimated customer base of 8 Cr people.
The founders conveyed that big businesses are planned over Tea, so they decided to try it here. What do we need in the morning? A cup of Tea. During office breaks, what do we need? A cup of Tea. What does Salman Khan needs? A hot cup of Tea. We Indians love Tea so much that there is a Tea stall at every corner, where we drink Tea, which is served in paper cups or glasses.
The paper costs us and our environment a lot, and when it is served in a glass, then have you ever seen how it is washed? To solve this problem, the founders have created a Tea glass washing machine. It can hygienically wash 12 to 15 glasses in 30 seconds. Its USP (Unique Selling Proposition) is its compact size and simple design. It also can be used to develop more products for the washing industry. Their vision is to install this machine at every Tea stall in India, and everybody must be served a hygienic cup of Tea.
The machine that they have built is their latest version, and have built it with the grant of Shark Anupam Mittal. They have sold 3 machines in Karnataka, Tamil Nadu, and Maharashtra. They sold the first machine for Rs. 20K, and sold the second and third machines for Rs. 28K.
The machine contains a 38-liter container and can wash up to 250 glasses. The founders manufactured it for Rs. 19K, and its cost is Rs. 28K with a 32% gross margin. They aim to sell 50 machines this year costing Rs. 30K.
Rs. 30 Lakhs for 10% Equity, for Rs. 3 Crores valuation.
Rs. 30 Lakhs for 20% Equity, for Rs. 1.5 Crores valuation.
Rs. 30 Lakhs for 20% Equity, for Rs. 1.5 Crores valuation.
All Sharks.
The founders started their conversation with a game. They provided the Sharks with placards of - yes or no. They asked the Sharks to reply honestly to their questions by holding the yes or no placard. They asked some questions and later conveyed that in the entire world, India is the most depressed country. Because we do not know the importance of mental health in day-to-day life. So the founders came up with MindPeers.
MindPeers is an AI-powered platform that checks your mental strength and also improves it proactively. They have a proprietary algorithm that checks important aspects of your life. Like a career, financial status, and relationships. It measures all these things and tells us how these aspects are impacting our brains. Then it gives a real-time score. They have built an in-house neuroscience game, behavior-changing, and habit-forming tools. It has 3.5 Lakh users and they have expansion in Singapore, the UK, and the US. They raised the amount of Rs. 1.12 Cr with an Rs. 33.75 Cr valuation. There are 6 Phycologists and its monthly subscription fee is Rs. 350. They have 3,500 paid customers. Their monthly active users are 30,000. Their revenue in October 2022 was 16.5 Lakhs, from which Rs. 10 Lakhs comes from B2C and Rs. 6.5 Lakhs comes from B2B.
Rs. 53 Lakhs for 1% Equity, for Rs. 53 Crores valuation.
Rs. 53 Lakhs for 1% Equity, for Rs. 53 Crores valuation.
Rs. 53 Lakhs for 1% Equity, for Rs. 53 Crores valuation.
Rs. 53 Lakhs for 1% Equity, for Rs. 53 Crores valuation.
Rs. 1.06 Crores for 2% Equity, for Rs. 53 Crores valuation.
(Rs. 53 Lakhs from Peyush for 1% Equity, and Rs. 53 Lakhs from Aman Gupta, Namita Thapar, and Vineeta Singh).
Peyush Bansal, Aman Gupta, Namita Thapar, and Vineeta Singh.
The founders conveyed that when Indians visit someone, they take some food items with them as gifts. So they presented Daryaganj from Delhi and asked the Sharks to have some food and fun.
They conveyed a story of the year 1947, which had some mixed emotions. On one hand, the whole of India was celebrating independence, and on the other hand, millions of people lost all their belongings and started a new life with the remains. This is how a refugee, Kundan Lal Jaggi moved to Daryaganj in Delhi from Peshawar. He had talent and could cook delicious food. He soon opened a restaurant along with his two friends. One fateful night, the restaurant welcomed plenty of guests, but all the food in the kitchen was sold out. He went into the kitchen and took the leftover pieces of Tandoori Chicken in a gravy of Tomatoes and Butter, then he served the same dish.
The founders asked the Sharks to guess what was invented. Our very own Butter Chicken. Just by chance, Dal Makhani was also invented in the same restaurant. Kundan Lal Jaggi, the man who invented Butter Chicken and Dal Makhani was the grandfather of the founders. He ran the restaurant till 1992, and then he retired. He was awarded the Culinary Legend Award in 2015 by the apex body of India. They were in discussion about reviving his legacy. Unfortunately, their grandfather died in 2018. They launched Daryaganj in 2019. The most authentic and flavorful restaurant for North Indian cuisine that hopefully, you will experience. It is a complete tribute to his culinary legacy.
They have 5 restaurants and 1 cloud kitchen and are about to come up with 5 more restaurants and cloud kitchens. They plan to open 100 restaurants in the next five years. The price of Butter Chicken is Rs. 550, and Dal Makhani is Rs. 385. Their annual sales in FY 2021-22 was Rs. 22 Cr and achieved Rs. 18 Cr revenue in FY 2022-23 to date. Their projection sales in FY 2022-23 is Rs. 38 Cr. Their EBITDA outfit is 21%, and 13% at the corporate level. Among 100% of sales, 27% goes to food cost, 3% to packaging cost, 17% to manpower cost, and real estate, and 15% goes to overheads and commissions. Their average payback period is 19-21 months. The CapEx for the new outlet is Rs. 1.5 Cr to Rs. 1.75 Cr.
Rs. 90 Lakhs for 0.5% Equity, for Rs. 180 Crores valuation.
Rs. 90 Lakhs for 1% Equity, for Rs. 90 Crores valuation.
Rs. 10 Crores for 20% of Raghavs Equity, and Rs. 90 Lakhs for Rs. 0.5 % Equity, for Rs. 180 Crores valuation.
Rs. 50 Lakhs for 1% Equity, and Rs. 40 Lakhs Debt at 12% Interest, for Rs. 50 Crores valuation.
Condition - Aman is to be included in the secondary offlead.
Rs. 90 Lakhs for 0.75% Equity, for Rs. 120 Crores valuation.
Rs. 90 Lakhs for 1% Equity, for Rs. 90 Crores valuation.
Condition - Aman is to be included in the secondary offlead.
Aman Gupta.
The founder presented the old, most faithful, and trustworthy companion. It went to the first world war and second world war along with the Indian army. The first rocket of India was launched with its help. Milk was distributed to every house during the Milk revolution with the help of the cycle. It is still a means of daily commuting for 58% of the daily population. It lagged with the changing times. We are now upgraded to 5G from 2G. Earlier the food was delivered in 30 minutes, and now it reduced to 20 minutes. Maybe it would get delivered in 2-3 minutes.
The founder wants to upgrade the cycle and bring a revolution of speed, and for that revolution, the founder has an invention, called DVECK. His vision is to make DVECK a household name so that it reaches his estimated customer base of 8 Cr people. He wants to bring about a revolution of speed. The cycle is made up of aircraft-grade Aluminium which keeps the rider safe.
The manufacturing cost of the base model is Rs. 9,000, and its motor is 45% more efficient than any motor in the market. It takes three hours to charge a battery completely, and two hours for it to discharge.
100 hours for 0.5% Equity
100 hours for 0.5% Equity.
Condition: Dhruv Vidyut has to raise Rs. 1 Crore.
100 hours for 0.5% Equity.
Condition: Aman Gupta and Peyush Bansal will be the first investors in Dhruv Vidyut.
100 hours for 0.5% Equity.
Condition:
1) Dhruv Vidyut has to raise Rs. 1 Crore.
2) Aman Gupta and Peyush Bansal will be the first investors in Dhruv Vidyut.
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