Welcome to the TheFNDC.com video tutorial. Today we will be looking at How to make a Super Mario 3D Game Music Shucks! You must be knowing what all you need to apply for college abroad. SAT prep, scholarship prep, grades, extra curricula, LORs. No.
I got tired of talking and Anupam sir got tired of listening. And a counsellor helps you in this whole process. But in most schools in India there are no counsellors. And traditional counselors are either very expensive or tied up with these colleges as recruiters.
Sharks, I come from a business family where there is only one rule. If you see a problem, then solve it. So this problem gave my family a third generation entrepreneur. And the project started.
Hi Sharks, my name is Jumra. And you must be wondering what this 12 year old kid is doing in Shark Tank. Wow! Actually, I get this a lot.
No, I am 19 years old. And I am studying economics from Boston's Northeastern University. Hi Shox, my name is Shibo. I am also 19 years old.
And I am studying finance at the University of Emory in Atlanta as a second year student. Project clay takes a new approach towards college counselling. We call this the elder sibling approach. We will teach school students They connect with students from their dream universities who guide them through this process, whether they are their elder brother or elder sister. Sharks has more than 300 vetted mentors on our platform from 10 plus study abroad locations.
This means you will get solid advice without the scamming or the ghosting and now the students don't need to beat around the bush. All they need to do is is focused on getting one step closer to their dream universities. And because of this, Sharks has been organically showing 65% growth in the last 5 months.
Sharks, we work every day for 16-18 hours to make sure that the next generation can get one step closer to their dream universities. Very cool. Because we believe that the traditional counselling industry is ready for a change. And for that, we need your mentorship. and 15 lakhs for 10% equity in our startup.
So sharks, what do you say? Can we confirm the admission of Project Leh in your portfolio? Alright, wow! Sumna, Shivam, welcome to Shark Tank India Season 4. Thank you. The heat has gone up.
I have to lose my tie too. Thank you. Thank you.
It was a blast. Great pitch, great pitch guys. So how did you guys meet?
Tell us a little bit of history and why you thought of this. So it all started when I met Dhyumna in 11th grade in a boarding school. One night before our Math exam, Dhyumna used to come to me and say, Shibom, I have doubts, can you help me solve them? I used to sit with her all night and answer her questions.
We didn't pass but we became friends. Which boarding school was it? Woodstock School in Masood. Wow!
Oh, in Masuri, nice school, good school. Lovely school. So, at the age of 15, I was applying for summer programs.
So, summer programs were too expensive, so I said, I will make my own free summer program. What I did was, that month, I emailed 1,000 college students. I'd email them and say, this is what I'm building. Whatever college you're studying in, just come and teach these high schoolers. So, out of 1,000 college students, 20 said yes, which was enough for me.
In the first year 800 students took those programs. There were 20 programs. Then after 800 students, we thought, let's amp it up. Next year, 4200 students took those summer programs from 30 plus countries. Completely free of cost.
I thought, you struck gold. This is the next billion dollar idea. Worse, we do summer programs too. So I took Gap Year.
Mom and dad said, what's the plan for Gap Year? I said, okay. I emailed EdTech startups.
I shifted to Bangalore alone. Worked at two EdTech startups to gain... Early Steps Academy and BlueLearn. Okay, yeah.
How did you land these internships? Okay, so for BlueLearn, when I was 15, I was seeing a YouTube video of the founder. I sat and made timestamps for the YouTube video. Then I cold DM'd him and said, Look, I've made these timestamps. I hope they're helpful.
He said, very helpful. Can you make it for every video of mine? God! I said, okay, boss.
He said, I will pay you. I said, I don't need your 100 rupees. If you... Can you give me an internship? He said no, not at this point.
Then his company started putting 2hr log podcasts. I emailed him again. Boss, I am still available, I can make timestamps. He said can you do content writing?
I couldn't but I thought it would be tough. So I sat for a week and learnt everything. And then 150 college students had applied for that position. I was the only high schooler.
And I got the job. Oh my God. I'm so glad I asked you this question. You're crazy. Super.
Thank you. Thank you so much. I just wanted to get into the edtech industry. That's where I wanted to work.
So I worked there for three months. I got a lot of experience. Then they offered me the internship.
I was getting 5.5 LPA. Oh wow. Nice.
I was happy. Parents were happy. Because they are friends' kids.
I was earning more than a graduated college. So they were like, yeah, okay. We can also, you know, say this in society. So I got a job there.
And then, BlueLearn was done. Then in December, I went to this mini shark tank. Ankur Warikoo gave me 2.25 lakhs as a grant to grow this.
But he said, we won't run summer programs. Check, try one-on-one mentorship. Applying to colleges abroad is very, very hard.
So I thought, okay, let's focus on that. So June, we made our first rupee. We're focusing on helping students apply abroad through near peer mentorship.
And so, we have a fund for Nikhil Kamath. So we got through to the top 3%. He sent me 70 rows of financial documents. I said, Boss, this won't work. So I reached out to Shivom.
Shivom helped me with all of that. He's a mentor. He was a mentor on the platform as well.
And he always tried hard. He was our most try hard mentor. Slowly, I started integrating him more into the business.
And he can do everything I can't. So now we are 50-50 partners. Oh, well done.
Oh, wonderful. You both are only two partners? Yes, we are only two partners. And what's your story, Shivom?
My story is not that elaborate. I think I was in grade 9 and I was about to fail in school. I was a backbencher, I used to get very low marks and I was also supposed to suspend once. So, my senior came and asked me what I was doing and why I was wasting my potential.
So, that day I went home and I thought I have to do something. Let's take a 180 and focus on academics. So, when I came to grade 12, I graduated from class and went to Emory University. And a year later, Dhimna said, help me out. So I thought, let's try it out.
And now we're here. Your parents are okay with this? What you're doing? Right, yes.
Papa, every day, at dinner and lunch, we talk about business for an hour or two, he always says, you don't have to do a job, you have to run a startup. Now, take the experience, but you have to run a startup. So they are behind me. They said, just give me equity. You keep doing it.
If you get a guilty conscience, then it's okay. Shivom, can you put this energy in a bottle? Can you put this energy in a bottle? I try. But that's why you guys are a fabulous team.
It's a lovely balance. Yes. Shivom, you filled a 75-rose financial excel sheet. What all things... How did you learn all these things?
So, there were very basic things like revenue, COGS, margins, gross margin, net margin. We knew all these basic things. Apart from that, we had to find complex metrics like TAM, SAM, SOM.
We had to find EBITDA margins. Then we had to divide operational expenses. We had to find retention rate, repeat rate. All of these metrics, ARR, MRR. It was difficult to find all these.
I learned it from YouTube, Shark Tank, Papa. But I did it. Amazing.
Jumna, I think you have a great leadership quality. You are a very strong orator. Right? And I think that is very powerful for you.
I've been noticing that more than energy, your articulation is very good. Thank you. One thing that I've learnt is that you guys don't want to be treated like kids.
Not at all. So I'm going to shoot straight to the business. I've understood the model.
But what is your vision? How will it scale? Our main tenet is, the children who are in 12th standard, their dream colleges, they give us a list. We find a mentor from a current student at that university who guides them through the entire application process. Is this digital?
Yes, it's on Zoom. Can you show us? Do you have a process?
We'll give you a website demo. Okay. Sharks, about the website, it was all jugaad and bad, mixed website.
We earned 10,000 profit earlier. Let's say you want to go to college at the age of 17. Her dream university is Cornell University. All she needs to do is come on our website, go on the search bar and she can type Cornell.
Our recommended mentor is Aryaman. He is a current freshman at Cornell studying engineering. You can book a call with him directly and you will get the meet link and payment link. The payment link is for 2500 rupees per session.
We have 500 mentors in our database. We want to cover breads so that it is available in every country. Because we are getting demand for Singapore, UK, Canada.
So we are trying to make sure that it is one from every country. Do you know what is good about this model? Because what happens is that these days, young adults, students, they trust you guys more than people who are above 10 years.
There is a difference between them. So your trust factor with them is very good. Sharks, one more thing is that They can relate to each other. They were in that position 2-3 years ago.
What happens is, if we break up, it feels like life is over. No grades, college won't happen, don't talk to me. So what happens is, if you look at the essays of the US, they ask, why you? Harvard has a stat that says, we can throw our existing class 3 times and we'll still get the highest quality.
So they want to see the true you. You can't tell your 40-50 year old counselor your best and deepest stories, but you can tell your seniors. Parents are not cool, but if our immediate seniors say something, then it's cool. Near peer mentorship is becoming a lot bigger with our generation.
No one is telling you, this is what you have to do. It's more like, this was my experience and they are always there when you fail. Purifully said. Yes. So basically the point is mentor no mentor people reach there they do something or the other.
You're right. You can spend 100 hours on your research. But if you can talk with someone who has been through the entire process you can avoid pitfalls you can save time and overall you will be in a better position. Once I talk to them the second time I will go without your platform and start talking so your revenue model will be bypassed.
Correct. This issue does exist in the services platform. But once quality comes, we can productize this. Right now, we're running this as a service.
So, right now, we're operating on WhatsApp groups. We sell payment links, we manage the back end. And every session of mentors, we get a cut on that.
What cut do you get? Our average sales price for a session is Rs. 1980. Out of that, 54.5% goes to our mentor. That means our...
Gross margin roughly 45.5% But I as a mentor Why would I want to give you money every time? If you talk to any mentor One thing is that they believe in the mission So are we mission driven? Yes, with scale that might be an issue And we can definitely consider To lower our commissions To ensure that this is not happening And all the parties are happy So there is a very big challenge I see I have done this with my son for 1.5 years Right? So our big coach Who used to guide us day to day Yes.
They have 50-60 universities in their heads. Yes. They explained it to us so well. So, at the time of picking the right college, we knew confidently that it's right for them.
Right. There are two parts to a college application. The selection part and then the admin part.
I see value in what you're doing in the admin part. Right. The strategic part, what are your thoughts on that?
How will you crack that? Now madam, I'm glad you asked that question. Because actually we've already had students that have come to us and said, Yaar, mera University of Melbourne me ho gaya, University of Sydney me ho gaya, aur in do UK universities me ho gaya. Now can I please talk to the students there? Get their honest feedback ki college mein chal kya raha hai, job market kya hai, scene kya hai uthar.
I think, yes, counsellors have feedback. But a lot of these counselors, they haven't even stepped out of India. They don't understand how student life is there. And I believe our mentors have a much much better perspective of what's going on there. And they can guide them.
And actually we have a story about a student. Two days ago, someone contacted us and said, he's not helping me with my essays, he's just raised his hand. Immediately, I need a Johns Hopkins student to look over my essay and tell me, What's missing? Within a day, we've already connected the student, the mentor is already giving them feedback and the student is very pleased with the service.
How much do you charge your students for payment? Rs. 2,500. Yes.
How much do the counsellors charge? Are they normally agencies or individual consultants? Yes. So, if I can just tell you about our competitors, there are two types. One is, you're very right, how do a lot of mom-and-pop shops, individual counsellors, run their business?
By placing these students in their partner universities. So they get 1.5 to 3 lakh rupees for placing their student in one college. So that means they are biased when they are sending the students. The incentive is a bit perverse. A lot, exactly.
And then the second type of competitors is very premium. They take 1 to 6 lakh for one application which is pretty high. So these agencies, as a parent, they get trust because they have done it.
We will go to them for the first time. Correct. Sir, we haven't had a single application cycle yet. So we understand that it's a factor of trust. But I am here to say on national TV, don't trust them.
Our competitors, Flexis, have 750 partner universities. That's terrible. You are sending your students to colleges that might not be the best for them, sir.
So especially helping students pick the right college, we believe this is a better service because we can give you the actual picture. Correct. In fact, I would argue that the market you are catering to, Dimna, that market size will be very small because of the colleges you are catering to. And this will be a problem for your business.
I agree. We play in the top 100 universities branch. And they will never actually partner with these counselling services. Because so many applications are already available.
You are saying that these universities will not partner with you. I agree. But how many children will go to these universities every year? Top 100 universities around the world. If we look at our total addressable market, this is the question, we have 1.33 million children from India who go to study abroad every year.
And this number is rapidly growing. By 2025, it will be 2 million. And our total addressable market in a nutshell is 2,000 crores. In India itself.
How did you get this 2,000 crores? Right. So 1.33 million students. Our LTV of a customer is 7600 rupees. But we are in the middle of a cycle as you guys might know.
So by the end of the cycle, we are estimating 7.5 sessions per user. Our LTV will be roughly 14500. We have established a TAM of 2000 crores. Now you said that our income range will not include the really premium ones.
And we will include those which are very... Like people who just want to go out, right? So our income target is 25-50 lakhs and that is only 3% of India. But if we see that the people who want to go out who are 1.33 million their income range will automatically be higher compared to the rest of India.
So in that 25-50 lakh range we estimate roughly 30% of students and multiplying our time from 20 crore to 30% we come to a total of 400 crore S.A.M. Okay. You are looking at a 400 crore S.A.M. TAM means Total Addressable Market which means the maximum revenue of your product or service if all the consumers are taking that product or service from you. SAM means Serviceable Addressable Market which means the pie of that market in which your price point or your geography is relevant.
And SOM means Serviceable Obtainable Market which means how much market share you can take in 5 years. So what are the numbers of your business and how will you scale it? So if we talk about numbers, we have been in revenue operation for the last 5 months. We had revenue of Rs.22,900 in June, Rs.41,800 in July, Rs.90,600 in August, In September, we had revenue of Rs.8,000 in June, Rs.9,000 in August, We have already spent 1,37,000 in October.
We have 23,000 receivables. And we have a commitment of 54,000 today. Which will be done by the end of the month.
How did receivables come into your business? You are not taking money in advance? You are smart.
Usually we take money, but like we have some students in Pakistan who if they want to make a payment they have to send it to a relative, then they have to send it to us. And now it is peak season. For applications, it's happening with students from Nepal.
So it takes them a little time, but they have paid. How will you scale this? Right now, we will close this financial year at 37 lakhs.
We believe we will 10x by next year because our mentor network will continue growing. It's good to say 10x, but how will it happen? Recently, we had an article in Economic Times.
So, the CEO of an organization reached out and said, we have under 10 schools. And we have been trying to make this program Can we connect with you guys? We want to offer your services to our schools Those schools have 5000 students So apart from D2C Which we believe if we can show That with this near peer mentorship model Where we are playing in the mid range We can show results Then people will be a lot more interested And schools need something like this Because there are no counsellors in these schools Got it.
And how much is your CAG? Zero. Zero. How?
Oh, because you're using social media. Exactly. Sub, Instagram, LinkedIn and Word of Mouth. Very good. Shivam, how's your game, Instagram?
I don't use Instagram that much. Mine is empty. Nothing. No social media.
Why? It's just a personal choice. There's nothing there.
I don't like it. You're more real. Yeah.
I am real. Then why are you on Instagram? I'm not real.
So, when I was in college, In my college, 90% of the students used to go abroad to do MS. And they were called apping, applying abroad. And the mentorship from there, people used to guide seniors, juniors on how to apply. It was like a fully established culture.
So this is a large requirement of students. where he was given a... mentor chahiye jo relate kar paye unse and not a professional mentor but mujhe abhi bhi thoda lag raha hai ki ye for students shayad itna work nahi karega because ek to aapke mentors har baar graduate karte rengi to aapki ek bahut badi moot ni hogi and dusra ye jo informal networks hai those will always be competing to itni value add karna jitni ek paid consultant karta hai by being a student you I think over a period of time, it will be difficult and you won't get consistency.
So I don't see any moat in it and I don't see any scalability. So I am out today, but love the energy and the team and good luck for what you are building. Thank you.
Guys, I think the problem is real and I think your solution is affordable, it is USP. and you had said in between that Mentorship is being provided to those people who have real context for problems. So that will always be a higher quality mentorship.
I think that is your USP. I think the challenge in the business right now is market size. Secondly, assuming the market size is big, and defensibility because this is an easily copyable model. I don't see differentiation right now. So I am out of this right now.
But I have one feedback for you. up It's good that you're focusing on some colleges but focus on less markets too because the global market you're going to won't make you a brand and your defensibility will become weak. Secondly, the B2B model you've got of tying up schools make it aggressive in some markets because it will make your defensibility.
But best of luck. Thank you. Thank you, sir.
Boss from Boston he reminded me of my old stomping ground. It was fun. And Shivam.
Your intensity, you don't care about the rest of the world. I know, where do I have to focus my attention? That's marvelous. I think, what you are making, making a big business out of it, is a little difficult. But don't give it up.
Stick together. Your complementary skills are very rare. That's magical. Founders take centuries to discover this.
So don't leave this. Even if you change the business. I have to think a little differently in terms of school.
I think schools will slow you down. Sales cycle is too long or was sort of bottom line costing. So I would suggest you focus on building something massive.
Stick together. I'm out, but I love you guys. My heart's with you today, but not my chest. Jumna, Shivam, amazing. I love you guys.
Your internship story is mind-blowing. Your words, Chugaad, Dhanda, Boss. I also say these things normally. Come on, sir, come on. Right pitch.
You just pitched the right pitch. I think the trust problem is very big. The people who trust you, they won't do this on LinkedIn.
The people who are doing this on LinkedIn. Your model is good. It's working. In the model, it's a little... that.
I need refinement. Okay. I don't know what that refinement will be. I mean, it's taking time to make a business out of a project. Unfortunately, for that refinement of that project to a business is not there right now.
So I will be out. But I'm feeling sad saying that I'm out, but I am out. Diomna and Shivam. Firstly, fantastic founders.
I think TAM is excellent. Like I said, it's like a full-time job for parents. And mentorship as a concept also, I believe in.
So, there is TAM. One area that I think is a big issue, especially you, Diomna, it's an area of improvement. You'll have to work on it.
Yes. It took my mentor 3-4 years to explain to me. And I'm still working on it. Sometimes, there is a problem of high energy people. Okay.
You've heard of this quote, respond. Don't react. Yes.
I have made a lot of mistakes in my life. By not following this, respond, don't react. Dino. Right? Exactly.
And I'll tell you where I saw this. When you have to scale, this macro knowledge of universities that I told you, both in where you apply, which one you end up going to, for that, having a database is very important. So when I spoke about some of my counsellors, you're like, no, I'm better than this, I'm better than that. It's nice to have confidence. But sometimes, don't react.
Think, maybe what Namita is saying, I can incorporate that in my programme and I can scale it. So I'm working on myself. I'm willing to work on it with you guys.
I'm willing to make you an offer. I'll give you exactly what you wanted. I'm not going to negotiate with you. Alright, congratulations.
I'll give you 15 lakh for 10%. Thank you, Raj. Congratulations. Good job.
And honestly, I can't wait to learn from you. So deal paki? Deal paki, Shah.
There you go. Thank you. Respond, don't react. Yes, remember that. Thank you so much.
I raised my first round of investment at the age of 26. It's been 13-14 years. When I used to talk to IDGs and investors, they used to be like, boss, numbers and revenue. My view is that what was expected from us in 26 years, is expected in 17-18 years. Bars should be high. And we should treat them like adults.
And Anupam, see one Dhyumna, the kind of conversation she's made us have. I mean, if a girl at that age pushes you to think she's got something. Amazing.
I agree. Hi Sharks! My name is Meet Devre and I am from Pune.
I am 16 years old and I study in the 11th grade. I am studying from Aditya School and I am also preparing for JEE. When my friends used to play with motor cars in my childhood, I used to play with motors.
And while watching, I got a special connection with motors. My first project was an electric Bonvita stirrer. Which I made in second class.
Amazing! Second class? Yes.
After that, I to automate the curtains of my house I motorized them too. Oh my god! In fourth class, when my mom didn't give me permission to buy an electric skateboard I tried to make one at home.
But I failed in that one and next year I took on my dream project which was an electric go-kart. I successfully Thank you. After that, while making these projects, I fell in love with this process of building.
I tried many other fields like IoT, ML and AI. But my core interest and my needle was on that motor. This year also, continuing my interest, I made the Deni Alpha, which is an electric motorcycle.
It has many features, but the main point is that this is 100% made in India and it is affordable. It has been made in around Rs. 40,000. Sharks, in India, the market for affordable electric motorcycles is very ignored. And especially for the low-income groups, who are unable to afford an expensive two-wheeler, for them, Denny Bike has got a solution. That's the problem we are solving in Denny Bike.
In the future, I want to pursue mechanical engineering. I want to convert this project into an actual engineered product. And if you get your mentorship and support in this journey, then that will be a perfect double ride.
For this, my ask is 30 lakhs for 10% of equity in my company. Thank you, Shark Tank. Welcome to Shark Tank India's campus special.
Thank you, ma'am. Loved your story. You keep doing so much innovative and creative work. Yes. And then you want to turn that into studying mechanical engineering.
Yes. Very nice to see that. Tell me, what is the trigger of everything?
You know, something inspires you. What was the trigger for this field and for this interest leading to wanting to do mechanical engineering? I am in love with vehicles and cars.
I really wanted this electric hoverboard but my mom refused. It's scary, good she refused. What do you learn from that? I saw a tutorial on YouTube.
I got a basic idea from there. And then I started working on that electric skateboard. It didn't succeed.
It failed. After that, I made an electric cycle. And that's how I got into this field.
Fabulous story. Is that a bicycle or a motorbike? It's a motorcycle.
Meet, tell me, what do your parents do? My parents have a software company in Pune. So you make products and services?
They're software services. And you have brothers and sisters? Yeah, I have a twin sister.
Identical twin? Oh wow! That's cool.
Does it look like you're looking at the mirror? No, not really. Why is his name Denny?
Devre is my dad's surname. Nikam is my mom's surname. I am so sorry.
Good, good, good. Tell me something, Neet. When you made this bike, So someone must have helped. I designed this frame and took it to the fabricators.
They welded it. But I did the designing and placement of all the components. How did you design it?
I designed it on paper. What are you doing? I didn't know in 16 years that you were going to take commerce or science.
And are there any pictures of your other projects that you made with a curtain machine? Actually that was way back. I don't have the curtain and its images.
Okay. But I've done a lot of other projects as well. This is it.
Which year is this? This year only. People are playing with Legos. Are they your friends?
No, they are my cousins. They were just holding the... You're making everyone work. You're like a dream cousin for every mom.
I was of your age. My cousins' moms wouldn't let me go out with them. It's completely opposite in your case.
She still says that to my mom. This is an electric go-kart. It's just like the go-karting cars.
Yes, it is. But I made this long ago. When did you make it?
I think I was 10 when I made it. Oh, 10! Yes.
You were 10? Oh my God! Your teeth didn't break.
Oh my God! This is crazy. Oh! What is Neet doing?
You're embarrassing our kids. This is crazy, man. In 10 years? He made this in 10 years.
Did anyone ride in this? Oh, hey. So cool. You made this in 10 years?
I feel like riding it. Wow, man. Does it still work? So cute. It doesn't work now.
Why? I took out its parts and put them in the cycle. Should I ride it?
Yes, you can ride it. It's just that its acceleration... Bro, look, I'm scared.
You've made a bike in a year. If something goes wrong, I'll get hurt. No, sir. Are you sure? Yes.
What do I do? Its acceleration is very sensitive. Yes, I think Vinita Jalaski is the latter.
Be careful. What man, he was driving and came. Drive, drive, drive.
Drive it on the platform. Here it comes. Careful, careful. It's good man. It's good.
Oh, now I've mastered it. Not bad bro. Why is the sound so loud?
Because generally, electric bikes are silent. No, the sound comes from the chain drive system. Okay, right. It's good bike. Nice.
Thank you sir. Do you see any problem in the market that you want to solve? Affordable e-bikes, basically electric motorcycles, is the problem I'm trying to solve.
Because currently, apart from eLuna, which is our closest competitor, we don't get such affordable, made in India, and good quality electric bikes. I've driven your bike. I've driven other bikes too. It's good for what you've built.
Yes. But it's risky. Because there are many things pending in this bike.
There is a suspension issue. And the maneuverability is not that smooth. There is some work left in this.
It's a good project. This bike is actually designed at home. So, these are all freehand adjustments. The steering column is basically at an angle higher than the standard. That's why you will feel it is pulling.
And suspension also, I have used spare parts of other bikes. So it's not custom made. And you have installed a dashboard there?
Yes, it's LCD screen. Tell me one thing, if your cost is 40,000, till now we haven't caught the distribution, warranty costs, all that. Yes. After adding all that, it won't come down to less than 75-80.
Right. As far as I understand, there are a lot of Chinese two-wheelers, motorcycles. That comes at a very low price. Either you have to become a big OEM player and you have to compete with Hero, Ola and all the others.
Yes. Or at the bottom end, you have to compete with Chinese competitors. Where will you end up?
So the Chinese bikes that you're talking about, they are actually low speed. So they are only available at 25 kmph. So 80% of the Chinese bikes that you get in this price segment, It's low speed.
Okay. So, they don't need registration. But this is a high speed bike. So, it will have a top speed of 50 kmph.
And it will need a registration. So, then you will end up in the category of the big OEM players. No. No. Why?
So, the eLuna segment. That's where we are playing. Who is the competitor in that?
Leaving eLuna, which is our closest competitor. It's affordable, made in India and... Good quality electric bikes are not available. Have you heard about this company called Ulu? Ulu, yes.
So Ulu is there right now and has a $25 million ARR and is profitable as well. So their concept is last mile mobility. Right. They are really focusing on these kind of bikes. I can see a very good fit there.
You have tried either directly or through your parents to reach out to some of those players to understand that If they want to use this, what changes they need? Do they think it has value? Have you tried? Because sometimes, we get to learn a lot from these conversations. Yes.
I haven't contacted Yulu yet. But they are in the low speed category. Why don't you think that for this kind of a bike, let me have a low speed range.
It will fit really beautifully in this. last mobility segment. So are you open to change the dynamics so it fits into a growing segment?
In low speed, there are many competitors on in-budget motorcycles. But this is medium speed. This is another market. So this is the market of eLuna.
Good. Fine. So you are very sure where you want to position.
Right, yes. How much does eLuna cost? It comes up to 80,000. So it will be similar.
And its market size? This year, they are projecting 50 to a lakh units sold for FY24 to 25. So, I have cleared your segment that this is the E-Luna segment and there is a gap there. So, in your product, tell me some features that are unique.
Why I should buy this? Its motor is 48 volts and 1 kilowatt. Compared to the E-Luna? Eluna is 2.2 kilowatt hour. So, it's less for you.
It's less for me. What other specifications are there? Chain drive system, which delivers more power. and is more cost efficient for maintenance. We use lithium ion batteries which are safer and charge fully in 3-4 hours.
On one charge, it does 75 km. So that's the range. And how far is Luna?
It's 90 km. Okay. Okay. You said you were studying for JEE.
We used to study for 8-10 hours a day. Apart from that, you run a business. Don't you ever feel that if you have a dream of becoming an engineer, you should do it from a good college.
versus this, so a little long term versus short term. Which one should I focus on more? That's important. I like practical approach more. So, I wanted to do this on the first priority.
And you have to. I have to. Yes.
I will try my best to get into a good university. But this is my first love and... Love the clarity. Define good. What is your dream college?
BITS Pilani. Not IIT? IIT Delhi is my dream but... But you already believed that it will take a long time.
You didn't go there. Is that what it is? I believed it a little.
So, if you get money here, will you make this bike with that money or will you prepare for IIT or JEE? I will focus on the bike. But I will ensure that education at the side is also on.
But it's not easy. And you will take money here today. 30 lakh rupees.
If you get a ROI of Rs. 30 lakhs, investors will follow you. They will ask you to increase the sale. What will you do then?
If I get a deal, I will first start developing R&D and design. The bike will remain in focus. But, I will have to compromise a bit during college. But why will you do a degree?
Because what I see is that you are a self-learner. You like to learn by doing. And you can also read books for your degree. I just want to learn mechanical engineering on the deeper side.
But you can't learn it yourself. You've learned this, you've made it. So what is mechanical engineering?
Some of the most exceptional founders in the world, Bill Gates, Zuckerberg, Michael Dell, are all college dropouts. Still, I feel that a degree should be there just to be on the safer side. Is it because if it fails, then at least you have that? No, it's nothing like that.
It's not like Meet, my decision has been made. First, nice to meet you. Thank you, sir.
I love that you have so much clarity of thought in 16 years. At 16, you are like a master. Answering investors' questions.
You know about your industry. Solid. I love this new India. The future of India is so bright.
You will make India the greatest country ever. Outstanding. Thank you, Amar.
I cannot give you money. I want you to study. Now to have fun, enjoy, finish your studies. Thank you, Aman sir.
Meet each dialogue from 3 Idiots. Be capable, succeed, and run after them. I love that dialogue. I think I agree with Aman. Okay.
You have to work on your capability. Complete your education. Secondly, what is going on in the auto world?
where your product will fit. For that, sometimes it's nice to talk to the leaders. They are in the middle of all this.
They are meeting global people. They are going to conferences. And they have a lot of auto gurus. I will introduce you to some of them.
But today I am out. But I would like to stay in touch with you and introduce you to some of these people. Thank you so much, ma'am. Thank you for the advice. You know, I am starting to feel that extraordinary is the new ordinary.
Right. If you get clarity, commercial understanding, in the next year or two, you start to see some early success. Consider not finishing college. Okay.
I know it is not what your parents will tell you, nobody will tell you that. Right. But I'll give you one example.
You must have heard of Adit, the guy from Zepto. Yes. Adit gave up his Stanford acceptance.
Okay, it was COVID, so it was an accident, he had to come back. Yeah. He got admission but had to defer because of Covid. But during that time, he got this clarity just through experimentation that Boss can become a big business.
Quick commerce. And he doubled down on that and he spent his life for the next few years. And you are seeing the results.
He's taking on the biggest industrialist in the country and doing extremely well. So don't dismiss the thought entirely. You have to think about your life, you have to think about your parents.
Today I'm out. All the best. You are going to be a star no matter what you do. All right.
Thank you so much. Neet, it's clear that you are an exceptional inventor. And your frugality, that you used its motor in that. You have thought that you should focus on the Luna market rather than going after the bigger markets. Because focus is important in the early stages.
I think very good thinking there. I think early signs are that you have a business. Sense is also very powerful. It's commercialization in 30 lakhs seems a bit difficult because licensing etc. will cost so much in the journey itself. So I also think that while you have the inventor gene and the business gene, it's difficult to become a big business in this product.
I am out of this today. But I'm also going to use your example. Next time my kids ask me for expensive toys, I'll tell them to make it themselves. I think what I like is that you've caught a very niche segment in your business with clarity.
And many times people have asked you, but you're very clear that in a 50kmph segment, you're seeing a gap for a cool product. So I think I really like that. And strong businesses are made in niche gaps. So I think you should retain that clarity. And I will tell you, bring a co-founder in this business.
Because your technical knowledge is very strong. Bring a co-founder who might not be in school now. Who can spend a lot of time. I am out of this now.
But I would say just pursue this. And next two years is your golden time to figure this all out. Best of luck. Thank you so much, Sharks.
Have fun. Good one, man. You are a genius. Go ahead, bro. Good luck, buddy.
Bye. Bye, good luck. Thank you. I will continue my education for the next two years.
And after going to a good college, good university, I will definitely come back to Shark Tank to pitch the same idea but with a better vision. Hi Sharks, my name is Khushi Mandle. I am 21 years old and I belong to Mumbai.
Right now I am completing my MBA from Atharva Institute. Sharks, can I take everyone on a small journey of my life with my products? Yes, sure.
Sure. So along with my studies, I made a plan to start my own business. And today, I can proudly say that I have spent my entire life and my MBA and graduation from the same business. Wow!
Congratulations! Shucks! I saw that even after the gift industry was worth 2.5 lakh crores, it still had the same old mass-manufactured, unoriginal gifts.
Where is the personal touch? I believe that whether the gift is small or big, it is important to have a personal touch in it. And more than that, affordability. That's why I made Pretty Little Shop.
Here we make customized and creative gifts like Polaroids, keychains, story frames and a lot more. We frame your personal moments in creative frames. Pretty Little Shop started in December 2021 during the lockdown.
And we have completed more than 10,000 orders. Oh! Yes, 10,000, Vinita. You must be thinking that I have a big team, right? Oh, my God!
As you can see, there is no one in this business except me. I do everything from orders to shipping. And that's why I have come to Shop Tank today.
I have started my business. But now, to make Pretty Little Shop into Pretty Big Shop I need a team and your guidance. So, my request is Rs. 30 lakhs for 10% equity.
Before I close my pitch, I went to an event in Nesco IT where a person said, don't ever give up on something that you've started. Think why you have started. And today I have brought a bouquet from my pretty little shop for Sunsan.
Can I give it to you? Sure. That's so sweet. Thank you.
Thank you. Thank you so much. Thank you.
Thank you so much. So special. Awesome.
You will get a gift for all of you. Thank you. We will be happy too.
Sharks, this is the first pitch of my life. So I don't know how to close it. Now you watch. I can be happy by giving a gift. Perfect start.
Oh, my God. Cool, bro. Anamita, this is for you. Oh, nice. Anamita, this is for you.
Thank you. I'm very happy to meet you. Thank you, sir.
It's really cool. It's perfect for me. Oh, my God.
Thank you. Wow. I love it. And it's very recent. I love it.
It's beautiful. Sharks, there's a button on his side. Please turn it on. Oh, wow. Oh Oh, love.
Night has fallen, bro. Oh, cool. Oh, my God. Khushi, what exactly is your business? Sir, I cater to customized gifting.
I cater to Gen Z and millennials, from age group 18 to 35. These days, Gen Z's Polaroids is something that they love. They want to keep it. They want to keep it in a book or on a wall. So I started with Polaroids.
Because Polaroids are such things that are very affordable. I sell it only for 6 rupees. Each Polaroid? Yes. And you give them clips with it?
Yes, we need clips, rope, lights, everything we provide. So you can decorate any place. So I started with that.
Then gradually, music plates, keychains. And now, 5 months ago, we launched these 3D customized miniature frames. What are these music plates exactly? exactly Okay, can I come there and show you? Yeah.
This is a customized music play. Anupam, if you have to give me an order, you just have to send me a family picture and whoever you are gifting their photo. And you have to tell them which song you want to dedicate to them. We make a barcode of that song and put it down. And when you scan this barcode from your phone, that song will be saved on your phone.
Oh, how cool! So you can dedicate songs. You can dedicate it to your family and friends.
What is the price of this? This is for Rs. 550 with shipping. I have seen this on many desks in the office. This is very cool. These days Gen Z people like this stuff a lot.
Very nice. These days Gen Z means you too. Yes, I am also. People like us find this very fascinating.
She is telling that you don't know what Gen Z people like. Khushi, we are very happy to meet you. Welcome to Shark Tank India's Campus Special Episode. When you started, did your father help you or did you start it yourself? So, he's completely bootstrapped.
I was in lockdown and I didn't know what to do. I had to do something. My father told me that I had to do what I had to do.
So I went on the internet and saw I had to do gifting because I haven't got so many gifts since childhood So I wanted to do something in gifting Being from a middle class family, you can't afford gifts on every occasion So I looked for what is going on in gifting nowadays So these music plates were very famous in foreign countries In India, as such, there is still no major player who makes these The first order I got, the amount of money I got, I took out the COGS from it and kept the profit for packing. That's how I started. Oh, nice. So you paid for everything yourself?
Yes, I did. And you packed and shipped those 10,000 orders yourself? Yes, yes, yes. My younger brother, he's in 8th standard. I make him sit on Saturday, Sunday, and tell him to come and help me pack.
Poor guy. I take him for tea. I take him for tea. I take him for tea.
I take him for tea. You treat him. So how much money have you earned in this business?
Abhi tak 18 lakh chit- Wow. Lifetime revenue. Is it revenue or profit? Revenue. And how much is the profit?
My net margin is 62. My gross is 77. So your expenses won't be much. There is nothing. Just shipping and some packaging material. You have earned 9-10 lakhs.
I pay fees for graduation. Very good. I want to ask you something.
You said you come from a middle class family. Father art teacher. You are still studying, maybe you still don't do it.
Why did they say that you should do whatever you want to do? My father, like I was 10th, after that in 11th and 12th, he paid 2.5 lakh rupees and got me admitted in science. I said yes, I will do engineering.
I prepared for JEE and CET. And then I didn't give those exams. Because I had no interest in science. So my father said, you have wasted 2.5 lakh rupees, now I won't.
I will do something. Now whatever you do, you do it. You will earn money and study.
Then you will know that every penny that is spent, how does it feel if the results don't come. How is your mother and father feeling now? Now they think you understood the money. My dad came.
He came in the morning too. He cried in the car. He is very happy.
He is very proud. And now you are in Shark Tank India. Yes. Have you ever thought about last year? Never.
Never. I used to watch on TV. Shark Tank programs are air in our college. Oh yeah. Every alternate.
Wow! I want to make a proper customized gift shop one-stop solution. Where you get customized gifts. I want to put stores too.
If you go to buy gifts, you go to the shop, you see your gifts. If you don't like anyone, you go to another shop. You will see the same gifts in the other shop too.
Because the supplier of all those is the one who delivers the mass products. So we can stand out there because pretty little shop won't have those gifts. I will also keep some ready to buy options so that if a customer comes who can't stay for 2-3 days to get a customized gift, he doesn't go back.
I want to cater to that too. So I want to explore both customized and ready to order segments. And from investment, I will save a little space next to my room and bed.
I will work from here only. I pack this table. Home desk. My bed is next to it. So I want a proper...
I want a warehouse. Because it's a big business. And sir, it's not that a customized business can't be big.
A customized business can be very big. You knew he was going to ask a question. I love it.
Because the margins are doubled in that than normal gifts. Yes. The debt stock is also less.
So, a big business can be made in that. Like our Piyush sir. The glasses business was customized.
Yes. You can still make it so big. So, a gift customized can also be so big. So, I want to make a team first.
Because I'm doing it alone. So, Khushi, there's a quote by Maya Angelou. Don't measure your life by the breaths you take but by the moments that take your breaths away.
Life is all about memories. I take crazy photos, make scrapbooks of kids. When you come to my house, tons of photos will be blown up all over.
So, I like this because I think it's a life-making human touch. Yes. It's an emotion. So you are getting people in touch with that part of living. So my compliments.
You have picked a very good area. Thank you ma'am. How many orders are you getting per month in the last 2-3 months? And how much revenue are you getting? Okay.
So, I make 5,000 Polaroids in a month. 5,000 means more than 150 a day. Yes, 250 Polaroids a day. But how long does it take you? I mean, the manual work, cutting.
I have got used to it. I can cut straight without a scale. And how much do you sell this for?
This is for 2500. Customised. Okay. From 6 rupees to 2500, everything is there. Which is like, affordable.
There are affordable gifts too. Like, for 550, there are frames. Amazing.
You said it in the beginning because you knew this question would come. How do you scale customized gifts? So I don't want to disappoint you. So my question is, how do you scale customized gifts? Okay.
I don't have machines for customizing. It is completely handmade. So we can scale this before the machines. We can keep the base ready. We can make a proper website for orders where I have all my SKUs.
And... The customer can order from there. Yes, I want this table. Okay, tick. I want this wall color.
Okay, tick. I want a flower pot on the table. Okay, tick. So, I will get an order at my warehouse.
And there we can properly make it by keeping the team. We can scale it. Will you make it manually or by machine?
No, it will be made by machine. But there will be a manual touch in it. It takes one hour to make it with your hand.
So, when it is made by machine, then it will be made in one hour. It will be made in one minute. Right. Right. We can do as much as we can with the machine.
We will definitely keep a personal touch in it. Khushi, how much is your monthly revenue? Last month, it was 86,000.
Last year, it was 90,000. Before that, it was 87,000. That means you are saving about 50,000 rupees a month.
You are making profit. Yes, it is profitable. Khushi, you have to learn a lot to make this a business. What else do you have to do?
Okay? Sir, that's why I'm here. I know, I know, I know.
That's good. I'm unfortunately out of this business. And the reason for that is that I don't know how to manage your team.
How to manage your team. Will you learn that? That's good. You've made such a big business. Outstanding.
Thank you so much. Thank you, sir. You've given me good gifts. All the best. Do well.
See, you said that customization can scale. I totally agree. To scale customization, it takes a lot of engineering and automation. For which it takes a lot of money.
Yes, sir, we will do it. Listen to me. But for that, there should be a market in which a lot of recurring demand will come. You will have to see that in this product, there is a part of the product in which there is a lot of demand.
And it will keep coming on going. That's why you can invest so much money and automate it. Abhi main baharu. Because I think you need to do that introspection, but this learning is very powerful for you. Thank you so much.
I want to see that you can bring a team, do proper functions and scale it. Right now, I'm not getting that confidence that this is something you can scale. Get some more revenue, focus a little bit more on marketing, on team.
Once you become larger, let's talk again. But for today, I'm out. Okay, thank you, ma'am.
With passion, a person can make many businesses and industries. Even when people, everybody else says that industry cannot be a business in this, you cannot scale it, he still makes it. Because passion takes you far ahead. It is a fantastic business for you.
And it will make you very happy. And this is your first idea. So what have you understood so far?
He Ideas create success, but that's not true. Execution creates success. Correct, as Vinita said.
You need to scale this and understand execution. Take it to 30-40 lakhs. At that time, you decide to make it a company of 300-400 crores.
The skills I have acquired, I want to use them to make something else, something bigger. Now I have learnt. How to build scalable businesses. Then you'll be ready for funding. Until then, I'm out.
All the best. Thank you, sir. Here's your role model. Khushi, you're so much like me, but 100 times smarter. At the age of 23, I was the first entrepreneur in my family.
I was the first entrepreneur in my entire extended family. I didn't know anything. So in the next 15 years, I had to learn so many basic mistakes, rejections and push-ups.
There is a rule that says that you have to spend 10,000 hours on something. You can become one of the best in the world if you do that. You have already packed 10,000 orders by yourself by the time you are 21. My journey started after I turned 23. I had to face all the push-ups. As everyone said, Be incredibly resilient. You have big dreams.
And you are unstoppable. I agree that this business is not ready to become an investable business. Right now, unfortunately, I will also not be able to make a financial investment in this. I will be happy to work with you to figure out what we can make.
And then I will be your first investor. Don't worry about that. But not today, Khushi. Thank you, ma'am. Best of luck.
I'm going to give you my phone number. Please reach out to me. Thank you so much, ma'am. Thank you so much. Really proud of you.
I'll tell you, just check if the number is right. She gives the wrong number by mistake. You'll remember it.
I'll check it first. You'll never remember it. See, I can see it from the beginning. It's not 5 in the last, it's 6. Then you write it.
Yes, I'll write it. I'll write it. I understand that you invest in big businesses who are earning crores of lakhs.
But they are already earning crores of lakhs. What is the need for investment? I think that I can make this, I am big. And I am open for ideas. It's not like I will stay in this box.
I have a lot of ideas that what else I can do. But I know that I will do this much only in gifting. But for that I need someone to guide me. I need someone to tell me that yes, this is happiness.
This is the way you have to go. I mean, there is no one like that to tell me. Look, Khushi, let me tell you something.
Sometimes in life, giving something to someone is not the best thing for them. The best thing you can do for somebody at some point is to say no, right? Today, you feel that if we give you funding, that will be the best thing for you.
But you will realize in some time, what happened today, that is actually the best thing for you. Khushi, you will build a 100 crore business. The question is when?
In 2 years or 10 years? You will build it. Khushi, let me tell you one more thing.
When these investors who are sitting here, especially the Excel sheet investors, and when they had also refused us, now they are running behind us, they have taken our money. We don't give them, now you have to do this in equity. Yes sir, I will make it.
100 crores. We will make it. Thank you so much.
Enjoy yourself. Take care. Bye.
I couldn't get the heels but I got the number of Vinita and Aman. They said they will guide me and help me in how to take it forward. When my father will see this episode, he will be very happy.
I will have to be ready. He will cry again. Hello, I am Sahiba and welcome to Ask the Shark. Today, we have Shark with us. I call her women's woman.
Because whenever I see her here on Shark Tank or on set, she always says something positive, sweet or complimentary. We have with us the Executive Director of MQF Pharma. Namita, why so sweet? Oh my God, Sahiba, you are so sweet yourself. And thank you for your kind words.
A lot of people also love you. Because our viewers have sent a lot of questions for you. Oh wow, okay. One of the questions is from Shivangi Barua. She is 24 years old.
She says, Namrata ma'am I love you. Oh, so sweet. And I aim to be as graceful and successful as you. My question to you is, either you get out first, or you offer first. How is your decision making so quick?
Don't you think that you can get a good deal in the waiting game? So Shivani, thank you for your question. And you are right that very quickly I get an idea of whether I want to do this deal or not. Mainly based on industry, it excites me.
Founder is somebody who I am inspired by and financials of course. So I think within the first 20-25 minutes I have made up my mind. However, I think in season 4...
I have consciously tried to delay my decision making. But I've realized that even after doing that, my decision doesn't change. Because I basically have this framework that I will invest in this. And very quickly, I know whether I have to do it or not. So why delay?
Thank you Namita for sharing that with us. Shivani, I hope you got the answer to your question. Guys, if you want to ask anything from your favourite shark, send us your questions. I am Dev, we will answer it and we will meet again on Ask the Shark with a new shark and a new question.