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25 Feb 2023
25 Feb 2023
Episodes 37 and 38 of Shark Tank India season 2 showed the investment given by the Sharks to the companies, such as Hornback, Malaki, and Nawgati.
This blog throws light on innovation brought by the founders of Hornback who presented the first full-sized diamond frame electric folding bicycle in the world. The founders of Malaki brought the Indian beverage brand made of local ingredients and natural resources. Nawgati came with an initiative to solve the problems of companies and customers and save their time.
The world is rife with the news of electric bicycle adoption. It is quite obvious, and there cannot be a better option for urban commuting than an electric bicycle. Their question to Sharks was - can you take these bicycles everywhere? You cannot carry them in the metro. Neither in a car nor in the apartment using the lift. If the bicycles are kept outside, they could be stolen and you would be left only with the lock. There is a solution for this, presenting Hornback.
Hornback is an electric automobile start-up, which presents the first full-sized diamond frame electric folding bicycle in the world. One can fold these cycles and carry them anywhere, even in cars. The cycle is handling better than usual bicycles. Their vision is to revolutionize urban commuting by introducing a product that is economical and pushes the users towards a sustainable and healthy lifestyle. It is associated with a battery of 250W, which has 45 km of range and 4 hours of charging time. Its price is Rs. 44,999.
Rs. 50 Lakhs for 1% Equity, for Rs. 50 Crores valuation.
Rs. 30 Lakhs for 2% Equity, and Rs. 20 Lakhs in Debt at 12% interest, for Rs. 15 Crores valuation.
Rs. 50 Lakhs for 1.5% Equity, for Rs. 33.33 Crores valuation.
1) Rs. 50 Lakhs for 3% Equity, for Rs. 16.67 Crores valuation.
2) Rs. 50 Lakhs for 2.5% Equity, for Rs. 20 Crores valuation.
Amit Jain - Offer 2.
The founders conveyed that each one of us has a favorite drink. Some are fond of cocktails while some of the mocktails. We are different people and our choice of mixer is different too. Some people add water and some add colas. Recently, people have started adding tonics and ginger ale. But every time we talk about a mixer or beverages, only imported brands come to mind. In India, we have some really unique resources that are absolutely invaluable. Why must we chase foreign brands? Why not give a global appeal to an Indian brand? That gave rise to Malaki.
Malaki is an Indian beverage brand that is made of local ingredients and natural resources. The categories of mixers include tonic, Ginger Ale, Sparkling Water, Coffee Tonic, and Homegrown Spice Ginger Ale which is made of their secret recipe, which is more than 60 years old. They started Malaki in 2018, and is available across 500+ HoReCa and online marketplaces like Swiggy and Zepto. The Indian market size for sparkling water is Rs. 150 Cr. They get 40% from the Ginger Ale Range, 30% from the tonic range, and 30% sparkling water. Their 90%-95% of sales come from Mumbai itself. The annual sales in FY 2020-21 were Rs. 1.5 Cr and in FY 2021-22 it was Rs. 2.7 Cr. The projection sales are Rs. 9 Cr. Their gross margin is 56%. The monthly marketing spend is 25% of the gross margin. They raised an amount of Rs. 2.2 Cr for Rs. 15.5 Cr post-money valuation.
Rs. 50 Lakhs for 1% Equity, for Rs. 50 Crores valuation.
Rs. 50 Lakhs for 10% Equity, for Rs. 5 Crores valuation.
Rs. 50 Lakhs for 5% Equity, for Rs. 10 Crores valuation.
Rs. 50 Lakhs for 3% Equity, for Rs. 16.67 Crores valuation.
Rs. 50 Lakhs for 2.5% Equity, for Rs. 20 Crores valuation.
Aman Gupta and Peyush Bansal.
The founders asked the Sharks to imagine that they are getting late for the office in the morning, and need to refuel the car. The nearest fuel station has a long queue of vehicles, and one needs to waste two hours there. There are more than 80,000 petrol pumps and CNG pumps in India. Even though we are so technologically advanced, these CNG companies only know the amount of fuel they sold in a day. They come to know about it only when a person manually notes it down. These companies have no idea about the vehicles getting fuelled. Whether the cylinders of those vehicles are tested or not. Also, if an attendant was present at the fuelling station at that time or not. Basically, there is no way to measure efficiency. If we provide the basic information to the fuelling companies, they would efficiently manage their business and increase their profit. Hence, the founders introduced Nawgati.
Nawgati is an online ecosystem that solves the problems of companies and customers alike using two of their products. First is the Nawgati Fuelling app, and the Aaveg dashboard. It helps people to know about the queue at their nearest fuel station and availability, to save them time and money. They provide an Aaveg dashboard to the fuel companies through a subscription model. They can monitor their attendants and can find out the amount of fuel purchased by a particular vehicle and the amount paid by them. The founders provide various kinds of key metrics so that the safety and efficiency of their business are maximized. Nawgati is already working with Indias biggest fas company Indraprastha Gas and Indias biggest oil company Indian Oil. They have 6 lakhs app downloads and 1.25 lakhs monthly active users, and also have 15,000 daily active users. The locations of all the Indian CNG stations can be found on our app. The subscription fee per station per month is Rs. 5K to Rs. 25K. Their sales of September 2022 was Rs. 4 Lakhs, and projection sales for FY 2022-23 is Rs. 2.5 Cr. The projection revenue for FY 2023-24 is Rs. 50 Cr.
Rs. 67 Lakhs for 2% Equity, for Rs. 33.5 Crores valuation.
Rs. 67 Lakhs for 4% Equity, for Rs. 16.75 Crores valuation.
Rs. 67 Lakhs for 2.5% Equity, for Rs. 26.8 Crores valuation.
Rs. 67 Lakhs for 3% Equity, for Rs. 22.33 Crores valuation.
Aman Gupta and Amit Jain.
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