Amidst the nation’s startup revolution, Shark Tank India Season 3 is currently airing, embodying the essence of ‘Make In India’ by spotlighting young entrepreneurs from diverse backgrounds. This season pledges to showcase various entrepreneurs committed to advancing and revolutionising Made in India products, aiming to project India’s identity on the global stage. The show captures the essence of necessity, resourcefulness, and a fusion of local solutions with international standards, highlighting the innovative ideas of our youth poised to make a significant impact. In the backdrop of the 75th Republic Day celebrations, a few exciting pitches drew the attention.
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Adil Qadri
Adil Qadri, a 29-year-old entrepreneur from Billimore, Gujarat, presented the Sharks with a traditional method of making attars (perfumes). Despite discontinuing his education after asthma-related struggles led to him failing fifth grade, Adil’s business has fulfilled an impressive 10 lakh orders, with an average of 3000 orders processed daily.
Despite undertaking several unsuccessful courses, Adil found inspiration in his father’s attar-selling business. He decided to enhance the perfumes by improving consistency and packaging. His brand provides a unique perspective on utilizing attars, prioritizing enduring effects and upscale packaging. One of the Sharks and the CEO of Sugar Cosmetics, Vineeta Singh, made Adil a conditional offer: Rs 1 crore for 1% equity plus 1% royalty until Rs. 1 crore is repayed. Adil Qadri accepts the deal.
Daak Room
The startup Daak Room, previously praised by Prime Minister Narendra Modi, appeared on a recent Shark Tank India Season 3 episode. During the episode, Daak Room’s founders, Shivani Mehta and Harnehmat Kaur, presented their startup and explained that they encourage people to engage in physical writing through school programs, campaigns, events, and products. The investors on the show were impressed by their pitch, especially after receiving handwritten letters from their loved ones.
Regarding their fiscal year 2023-2024 revenue, Shivani mentioned that they generated a total revenue of ₹90 lakh and are projected to reach ₹1.46 crore this year. She also stated that out of the ₹90 lakh revenue, 41 percent came from school programs, 55 percent from marketing campaigns, and 4 percent from carnivals. Ultimately, Daak Room secured a deal for ₹36 lakh for 6% equity with OYO CEO Ritesh Agarwal. He also mentioned that he would decrease his ownership to 5% if their business achieved its revenue targets.
Rodbez
Dilkhush Kumar and Siddharth Shankar Jha, the taxi booking platform Rodbez co-founders, appeared on Shark Tank Season 3. Their platform aims to tackle the challenges caused by disorganised taxi services. They have addressed various issues people encounter and devised solutions for hassle-free, affordable journeys. Rodbez offers one-way taxi rides, taxi pooling, and carpooling through its platform and mobile applications. Typically, passengers must pay for a round trip because it’s difficult for taxi drivers to find a return fare.
Previously, Dilkhush and Siddharth worked on a different idea under a different brand name. Due to certain reasons, they had to rebrand as Rodbez. They shared their journey of building the business model, learning primarily from YouTube videos. In their initial pitch, RodBez’s founders asked Rs 50 lakhs for a 5% equity stake, valuing the company at Rs. 10 crores. After discussions, they secured a deal of Rs 20 lakhs for 5% equity and Rs 30 lakhs in debt over two years from Vineeta Singh and Ritesh Agarwal, which they accepted.
AI Kavach
Pratyusha Vemuri, the founder of an AI-based tool, presented another compelling pitch that resonated with the Sharks. She is on a mission to safeguard India digitally, emphasising the crucial role of Cyber Security. The tool is intended for fraud prevention, reshaping the landscape of digital trust with ground-breaking solutions. Pratyusha sealed the deal with Aman Gupta and Peeyush Bansal, who identified the brand’s potential to revolutionize the digital security industry.
