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2 Feb 2023
2 Feb 2023
Episodes 21 and 22 of Shark Tank India, season 2 shows the investments given by Sharks to the companies, such as - Dabble, Broomees, Ravel, HoneyVeda.
This blog shows the vision of Dabble company to make Dabble the first art experience for every child, so the children can freely express themselves without hesitation. Broomees came up with the idea of helping people by providing them with a cook, house help, and babysitter that will satisfy their needs. The founder of Ravel came up with the vision to provide all the people in the world with haircare products that are made for them. HoneyVeda showed its expertise in providing Honey to customers without killing Honeybees.
The founders of different companies come at the platform with a high level of enthusiasm associated with their business idea and the potential for growth and success, which highlights the passion that can serve as a motivator and can help to create a positive, dynamic working environment. It shows the dedication that can further help to build customer loyalty, as it is contagious and can be seen as a sign of the potential for growth and innovation of the company.
The founders conveyed that when parents try to inspire the creativity of children and bring art products to them, but when the children start becoming creative, the parents become traffic police. They do this for the safety of children. The same thing happened with the founders, when they went to explore safe art products for their children, they did not find it. All those were out of India. Then they got an idea to make safe art products for children in India, then there came up Dabble.
Dabble is a brand that makes children safe, toxin-free, and development-friendly art products by keeping in mind their mental and emotional needs. They have 10 products in their portfolio, such as fingerpaints, crayons, glue, brushes, coloring pages, and other art accessories. They have kept our attention on every detail of the child development. They have made crayons in the form of toys that inspires stories in children. Their fingerpaints include Coconut and Sweet Orange oil which activates all the senses of children and appeals to them, and it can be easily rubbed with the help of tissue. It is the first brand in India that has mentioned the full list of ingredients on the packaging. Their products are available on their website, and on Amazon, Firstcry, and Flipkart as well.
Their vision is to make Dabble the first art experience for every child, so the children can freely express themselves without hesitation. Their annual sales in FY 2019-20 were Rs. 17 Lakhs, in FY 2020-21 it was RS. 14 Lakhs, Rs. 47.5 Lakhs in FY 2021-22, and Rs. 33 Lakhs in FY 2022-23 to date. The price of 3 colors is Rs. 549. Their 25% of sales go to COGS (Cost of Goods Sold), 9% to marketing, 30% to channel margins, 25% to salaries, and the gross margin is 75%.
Rs. 50 Lakhs for 10% Equity, for Rs. 5 Crores valuation.
Rs. 50 Lakhs for 33.33% Equity, for Rs. 1.5 Crores valuation.
Rs. 15 Lakhs for 10% Equity, and Rs. 35 Lakhs Debt, for Rs. 1.5 Crores valuation.
Aman Gupta.
The founders conveyed the issue regarding the babysitter and cook and said that it is not their fault. Actually, they do not get proper training from anyone. This experience is missing from every house in India. They came up with the idea of the best cook, babysitter, and househelp which is brought by Broomees - Indias Trusted Homemaker.
It is a tech-enabled platform from which people can get cook, house help, babysitter, and other all-rounders. They are available on their own website and application. Then the company will find trained, reliable, and verified people for the people. The company provides them health insurance, child education benefit, interest-free loans, female hygiene products, and an opportunity to earn 3x salaries as well. They have provided their services to 5,000+ households.
The company started its journey in February 2021, and source the workers online and offline as well. They have a Worker App and offline training centers and on-field campaigns. They have two apps, the Worker app and the Customer app which have feedback and replacement options. The contract is done between the workers and Broomees which is a service partner contract. The average contract value is Rs. 7,000 to Rs. 11,000 and they charge 10%-14% commission. They raised Rs. 4.2 Cr in the first round with Rs. 28 Crores post-money valuation, and the second round is in process with an amount of Rs. 7 Cr with Rs. 35 Cr pre-money valuation. Their monthly burn is Rs. 20 Lakhs.
Rs. 80 Lakhs for 3% Equity, for Rs. 26.67 Crores valuation.
Rs. 80 Lakhs for 2% Equity, for Rs. 40 Crores valuation.
Rs. 80 Lakhs for 2% Equity, for Rs. 40 Crores valuation.
Rs. 80 Lakhs for 3% Equity, for Rs. 26.67 Crores valuation.
1) Rs. 2 Crores for 5% Equity, for Rs. 40 Crores valuation.
2) Rs. 1 Crore for 3% Equity, for Rs. 33.33 Crores valuation.
Counter Offer - 2.
The founder conveyed about his three friends - Rekha, Jaya, and Sushma whose hair types and problems are different. One has hair fall issues, dandruff issues, and other issues as well. They get different shampoos for different hair-related issues in the market. If one can customize the shoes according to the size of our foot, then why one cannot customize shampoos as per the need, and why all are using rough generic products which do not give good results as well? To solve this problem the founder started the company.
Ravel makes customized hair products and provides it as per the requirements and goals of hair. The people need to visit the website and enter a quiz and all the questions get covered related to hair type, treatments, and others. One can choose the color and also write own name on the bottle. On the basis of those answers, the team makes unique and customized products for the people by using good and effective ingredients. All their products are Sulphate and paraben free and are Made in India, and it also follows clean beauty standards. Around 2 Lakhs+ customers have customized their products on their platform.
His vision is to provide all the people in the world with products that are made for them. Their current annualized revenue run rate is Rs. 5 Cr. Their sales from Jan 2021 to March 2022 were Rs. 1.55 Cr, and from FY 2022 to FY 2023 to date their sales are Rs. 1.4 Cr. The monthly gross merchandise value is Rs. 40 Lakhs and the monthly net sales are Rs. 35 Lakhs with a marketing expenditure of Rs. 9.78 Lakhs. They have a 20% repeat rate and the sales are rapidly growing, which shows Rs. 15 Lakhs in April 2022, Rs. 25 Lakhs in May 2022, Rs. 32 Lakhs in June 2022, and Rs. 40 Lakhs in July 2022. 100% sales are from haircare and from their own website. The repeat cohort of 3 months is 27% and 35% of 6 months.
Rs. 75 Lakhs for 2.5% Equity, for Rs. 30 Crores valuation.
Rs. 75 Lakhs for 10% Equity, for 7.5 Crores valuation.
Condition: Ravel needs to achieve Rs. 7.5 Lakhs monthly profit in 2 months.
1) Rs. 75 Lakhs for 3.5% Equity, for Rs. 21.43 Crores valuation.
2) Rs. 75 Lakhs for 7.5% for Rs. 10 Crores valuation.
Anupam Mittal.
The founders conveyed that the Honeybee is like a boon for humans. If the Bees disappeared off the face of the Earth, man would only have four years left to live - said by Albert Einstien. Without pollination, more than 70% of the harvest would be affected. But the human for their sake either remove, break or burn the honeycomb. Their honeycomb consists of 20% of Honey and 80% of the part contains unborn Honeybees, so they either die or become homeless. The founders were unable to bear this and hence they started HoneyVeda.
HoneyVeda is a brand that provides Honey to customers without killing Honeybees. Their expertise is as a B2B bulk supplier, but they want to make the company is B2C brand globally. They have trained 200+ farmers and tribals in beekeeping. They aim to make HoneyVeda the number 1 Honey brand in India. Their sales for FY 2020-21 were Rs. 35 Lakhs, Rs. 51 Lakhs in FY 2021-22, and Rs. 53 Lakhs in FY 2022-23. In this, Rs. 40 Lakhs goes for B2B Honey, Rs. 9 Lakhs for Honey Bees, and Rs. 4 Lakhs for retail. They want to increase their 600 colonies to 1,500 colonies to achieve economies of scale and rationalize costing, which will improve the margins. Their B2B gross margin is 20%
Rs. 75 Lakhs for 7.5% Equity, for Rs. 10 Crores valuation.
Rs. 50 Lakhs for 20% Equity, and Rs. 25 Lakhs Debt at 12% Interest, for Rs. 2.5 Crores valuation.
Rs. 50 Lakhs for 15% Equity, and Rs. 25 Lakhs Debt, for Rs. 3.33 Crores valuation.
Anupam Mittal & Vineeta Singh.
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