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8 Feb 2023
8 Feb 2023
This blog highlights episodes 25 and 26 of Shark Tank India, season 2 showed the investment given to the companies -ScrapUncle, Sharma Ji Ka Aata, Manetane, Unstop, and Blue Tea.
The founder of ScrapUncle showed his keeness to help people by providing trained and verified agents to come to their place and weighs the scrap with 100% accuracy and provide its best value. The founder of Sharma Ji Ka Aata showed her efforts to satisfy the needs of the people with the healthy and tasty flour. Manetain came up with a one-stop solution for hair products and hair accessories, whereas Unstop showed its dedication to help students to get opportunity and get places in the companies they deserve, and at the end Blue Tea which showed its attribute in being the first Blue colored Ayurvedic Tea in the world, which is associated with several benefits.
The founder conveyed that he is fed up with his scrap dealer. He asked the Sharks if they too think that the scrap dealer weighing scale is functioning properly. Whether his rates would be as per the market or not? Does the scrap dealer come over at a time convenient to you or as per his own time? As a responsible citizen, the most important thing is whether your scrap will even be recycled or not. The scrap dealers do not even know if they will get work daily. Customers call them to give scrap but sent them empty-handed. Customers and scrap dealers face these problems because this sector is extremely unorganized as well as neglected. He asked Sharks if they agree that when local stores can sell online, then why not scrap dealers? He came before with a solution to all these issues.
This scrap dealer does not holler but comes through the ScrapUncle App or website. It is trained and verified agents to come to your place and weighs the scrap with 100% accuracy and provide its best value. It is so responsible that it automates the recycling process, and collects scrap from various sources, such as homes, offices, and companies as well. It has completed 22,000+ pick-ups in 2 years from Delhi NCR, and 14 lakh+ kilograms of scrap sent for recycling. A normal scrap dealer on a cycle visits the neighborhood, purchases the scrap, and sells it to the aggregator. Then there come big aggregators who only deal with one thing.
For instance, one who deals in the paper takes the only paper. Similarly, you have metal scrap dealers. Then there are people with money and power who get things done on the phone with the help of money. This runs on credit, and the payment from the recyclers comes late. So the company is eliminating those few players who were in between due to money and power. In some cases, such as Iron and Electronics they have directly reached the recyclers. The gross margin from a customer to a recycler is 45%. The monthly earnings of a scrap dealer were Rs. 30K to 35K initially, but the ScrapUncle collection partners earn Rs. 60K to 70K per month. The scrap market size of Delhi is Rs. 16,300 Cr. Their annual sales in FY 2020-21 were Rs. 35 Lakhs, Rs. 1.48 Cr in FY 2021-22, and projection annual sales in FY 2022-23 is Rs. 6 Cr. 10% of business is B2B, and 90% B2C, and there are around 1,950 B2C customers per month.
The customer acquisition cost is Rs. 110 and the retention rate is 40%-50% in a 4 months cycle. In the sales of Rs. 27.5 Lakhs, Rs. 5.5 Lakhs goes to collection partners, Rs. 15 Lakhs goes to customers, Rs. 1.25 Lakhs in marketing, Rs. 3.25 Lakhs goes for salaries, Rs. 1.5 Lakhs for collection centers, and Rs. 1 Lakh goes for the other expenses. Their gross margin is 25%.
Rs. 60 Lakhs for 3% Equity, for Rs. 20 Crores valuation.
Rs. 30 Lakhs for 5% Equity, and Rs. 30 Lakhs Debt at 12% Interest, for Rs. 6 Crores valuation.
Rs. 60 Lakhs for 10% Equity, for Rs. 6 Crores valuation.
Rs. 60 Lakhs for 8% Equity, for Rs. 7.5 Crores valuation.
Rs. 60 Lakhs for 7% Equity, for Rs. 8.57 Crores valuation.
Rs. 60 Lakhs for 6% Equity, for Rs. 10 Crores valuation.
Rs. 60 Lakhs for 5% Equity, for Rs. 12 Crores valuation.
Amit Jain.
The founders conveyed that we have been listening to comparisons since childhood, such as the son of Sharma is good at studies and sports. But they forgot to admire one Sharma, i.e. his mother. Her concern is that her family should stay healthy like every mother and her children to eat healthy food. That is the reason why they always source their flour from the mill. But one day she was busy on account of her job, and they could not get the grain milled and also it started raining. So they were compelled to buy a packet of flour and had the chapatis, but they were neither tasty nor of good quality.
At that time, she thought that there might be many women out there who would be facing the same issue. So she decided to set up her own flour mill in her town. They asked their customers what their demands were, like what consistency of flour did they prefer and of what type. The founders met the needs of the customers. They get a nutritionist on board who understood the health problems of customers and recommend flour to them based on that analysis. Now they have 4,000 customers and their products are available across leading stores in Pune.
They made 40 varieties of flour and their vision is to sell it in all over India. They started the brand in 2019 and earned Rs. 12 Lakhs in FY 2020-21, Rs. 27 Lakhs in FY 2021-22, and the projection sales for FY 2022-23 is Rs. 40 Lakhs. Their gross margin is 63% and their net margin is 38%. The price per 5 kg is Rs. 295, and about 20% of their customers come from their website, 25% from WhatsApp, 15% from offline retail, 15% from marketplaces, 5% come from local vendors, and 20% comes from their store.
Rs. 40 Lakhs for 10% Equity, for 4 Crores valuation.
Rs. 20 Lakhs for 25% Equity, and Rs. 20 Lakhs Debt at 12% Interest, Rs. 80 Lakhs valuation.
Rs. 20 Lakhs for 20% Equity, and Rs. 20 Lakhs Debt at 12% Interest, Rs. 1 Crore valuation.
Rs. 20 Lakhs for 20% Equity, and Rs. 20 Lakhs Debt at 12% Interest, Rs. 1 Crore valuation.
Rs. 30 Lakhs for 20% Equity, and Rs. 10 Lakhs Debt at 12% Interest, for Rs. 1 Crores valuation.
Rs. 40 Lakhs for 20% Equity, for Rs. 2 Crores valuation.
Rs. 30 Lakhs for 20% Equity, and Rs. 10 Lakhs Debt at 0% Interest, for Rs. 1 Crores valuation.
Anupam Mittal.
One of the founders asked how her hair was looking and conveyed that it did not look like this earlier, and she struggled to manage her curly hair since her childhood. People used to call her Witch, Noodles, and a Broom as well, which marred her confidence. The journey of the other founder was the same, and she regularly used to visit the salon to get her hair straightened, which resulted in dry and damaged hair with hair fall as well.
The problem is not limited to them, around 60% of people in the world have curly, wavy, and coiled hair. Either they do not know their actual hair type or they do not know how to manage their hair. When the founders embraced their curly hair, they could not find curly hair products in India, and they needed to import products from US and UK which were very expensive. They wanted to make international quality available in India. So they launched Manetain.
Manetain is a brand that has a one-stop solution for hair products and hair accessories. Their products can be used by all hair types, such as straight, wavy, and curly. People can purchase their products from their own websites and marketplaces. They started the brand in 2018, and currently, there are 22,000 community members. When they discovered that curly hairs are beautiful and every frizz is a curl waiting to happen, then their lives changed.
They wanted to bring the same change in the lives of other people too. Indian market size for curly hair is around Rs. 250 Cr - Rs. 300 Cr. The annual sales in FY 2021-22 were Rs. 1 Cr. In the monthly sales of Rs. 10 Lakhs, Rs. 3 Lakhs goes to COGS (Cost of Goods Sold), Rs. 70K for the courier, Rs. 40K for Razorpay & Shopify, Rs. 1.6 Lakhs for agencies, Rs. 40K for salaries, and the remaining Rs. 3.9 Lakhs goes for marketing. The gross margin is 60% - 70% and sometimes it goes up to 75%. The customer acquisition cost is Rs. 200 - Rs. 250. They get 60% from their own website, 30% from the marketplace, and 10% from an offline retail store.
Rs. 75 Lakhs for 2.5% Equity, for Rs. 30 Crores valuation.
Rs. 75 Lakhs for 10% Equity, for Rs. 7.5 Crores valuation.
Rs. 75 Lakhs for 7.5% Equity, for Rs. 10 Crores valuation.
Aman Gupta.
The founder conveyed that he is sure that all the Sharks also have heard that just complete graduation from college and then your life is a breeze. Once you do MBA, then life is a breeze. Many graduates every year face problems of either not getting good campus placement or not getting admission at good colleges. Also, companies are not able to reach out to these graduates in every corner of the country. So the founders came up with the online platform Unstop, which can discover, engage and hire graduates. A company launches a competition on Unstop, which has multiple preliminary rounds.
A student registers via the app, and if he performs well in the rounds, then he reaches the finals, where they get CV points and loads of prizes most of which are job opportunities. Using Unstop, over 90K female coders participated in two engagements with Walmart and over 300+ were hired. Similarly, 5 Lakh students participated in the competition of Tata, Flipkart, and Accenture through Unstop. The students launch the events and competitions on Unstop for free at their college. It is as easy as they make their college page on Facebook and LinkedIn.
They promote it in their network, and the founder gets new users of Unstop, and the existing users get more opportunities. Currently, 40 Lakhs students are registered on Unstop through 10K+ colleges, and 200+ companies get engaged with them and pay Unstop. Their vision is that no matter what corner of the world the talent lies in, Unstop wishes to present it with the right opportunity. They started in 2017 as Dare2Compete and rebranded to Unstop in May 2022. The users can browse different opportunities, participate in competitions, hackathons, quizzes, and hiring challenges, and is available with 1,500+ live opportunities.
One can register and complete the round. Their annual sales in FY 2021-22 were Rs. 16 Cr, and Rs. 12.5 Cr in FY 2022-23 to date. Their projection sales for FY 2022-23 are Rs. 30 Cr - Rs. 35 Cr. Its gross margin in FY 2021-22 was 90% and 30% EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation). The college participation from colleges is 3,000 to 4,000 and 20,000 to 25,000 from companies. The cost per hire at Unstop is Rs. 10K to Rs. 15K, and the success rate of hiring is 98%, the renewal rate is 93%, and the average revenue per company per year is Rs. 10 Lakhs to Rs. 12 Lakhs.
Rs. 1 Crores for 1% Equity, for Rs. 100 Crores valuation.
Rs. 5 Crores for 10% Equity, for Rs. 50 Crores valuation.
Rs. 60 Lakhs for 1% Equity, and Rs. 40 Lakhs Debt, for Rs. 60 Crores valuation.
Rs. 1 Crore for 2% Equity, for Rs. 50 Crores valuation.
Rs. 2.5 Crores for 5% Equity, for Rs. 50 Crores valuation.
Rs. 2.5 Crores for 5% Equity, for Rs. 50 Crores valuation.
Rs. 2.5 Crores for 5% Equity, for Rs. 50 Crores valuation.
Rs. 2 Crores for 4% Equity, for Rs. 50 Crores valuation.
Anupam Mittal, Aman Gupta, Namita Thapar & Amit Jain.
The founders conveyed to the Sharks that if they want to lose their fat, have more stress, and want clear skin, then have Green Tea. Is there any other color apart from Green? It is not the fault of anyone, because Green Tea has been marketed so aggressively that we did not even look at any other Tea. In fact, Green Tea tastes somewhat bitter but still we drink it. Concoction and Tea are not new to India. In fact, Tea has been part of Ayurveda from the time of anchorites. It is Ayurveda that led us to find the Shankhpushpi flower, and from that flower comes their brand Blue Tea.
Blue Tea is a Herbal Tea brand that specializes in flower-based Tea. The founders have brought the first ever Blue colored Ayurvedic Tea in the world, which has many benefits, such as it has no bitterness, more anti-oxidants, being good for the skin, soothing which removes stress, and no Caffeine. They have started the brand in 2018, and at present delivering it to every city in India online. They also sell Blue Tea across India and 12 other countries. Their envision is making this the number one herbal Tea brand in the world. They provide 50 flavors in India and 35 flavors in US. Their monthly sales is Rs. 1.5 Cr. Their annual sales in FY 2019-20 was Rs. 50 Lakhs, Rs. 2 Cr in FY 2020-21 and Rs. 10 Cr in FY 2021-22. Their projection sales for FY 2022-23 is Rs. 30 Cr. The net margin is 19%. Their 60% sales is to US and 40% to other countries. The price per 100 grams of Blue Tea is Rs. 800.
Rs. 75 Lakhs for 1% Equity, for Rs. 75 Crores valuation.
Rs. 15 Lakhs for 5% Equity, and Rs. 60 Lakhs Debt at 12% Interest, for Rs. 3 Crores valuation.
Rs. 50 Lakhs for 2% Equity, and Rs. 25 Lakhs Debt at 12% Interest, for Rs. 25 Crores valuation.
Rs. 50 Lakhs for 3% Equity, and Rs. 25 Lakhs Debt at 12% Interest, for Rs. 16.67 Crores valuation.
Aman Gupta.
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