Shark Tank India has returned with its second instalment on Sony Entertainment Television and Sony LIV. Shark Tank India Season 2 episode 30 titled “Changing India”, premiered on February 10, 2023 during the 10-11PM IST time slot. Payel Seth is the show’s creative director, and it’s been produced by Studio NEXT, with Ravikesh Vatsa as its writer.
The show is hosted by comedian Rahul Dua, and graced by six judges, better known as sharks – Anupam Mittal Founder-CEO of Shaadi.com – People Group; Aman Gupta, Co-Founder-CMO of boAt; Namita Thapar, Executive Director of Emcure Pharmaceuticals; Vineeta Singh, Co-Founder-CEO of SUGAR Cosmetics; Peyush Bansal, Founder-CEO of Lenskart.com and Amit Jain, Co-Founder-CEO of CarDekho Group and InsuranceDekho.com.
-Shark Tank India Season 2 Episode 30 Recap Contains Spoilers-
Shark Tank India Season 2 Episode 30 Recap
Episode 30’s first pitch begins with an imagery of the past that leads us to the legacy of today. Raghav Jaggi, Gurpreet Singh And Amit Bagga thread the story of Kundan Lal Jaggi, a prolific chef who moved from Peshawar to Daryaganj as a refugee after the Partition and went on to invent butter chicken and dal makhani in 1947. As his grandson, Raghav Jaggi seeks to revive his legacy with the 2019 launch of ‘Daryaganj’, the most authentic and flavourful restaurant for North Indian food.
Driven by their vision of opening 100 restaurants, the trio of entrepreneurs plan on raising funds of Rs. 90 lakhs for 0.5% equity. Lucky for them, they’ve already got a fan in Aman, who’s simply in love with their butter chicken dishes. The restaurant has established itself as a casual dining joint and charges 15-20% lesser than their rival competitions in the market. Pricing the butter chicken at Rs. 550 and dal makhani at Rs. 385, team ‘Daryaganj’ serves a full-fledged finger-licking meal to the Sharks.
Next up, their sales are revealed with the last financial year bringing them annual sales worth Rs. 22 crores, whereas the new total projected for the present year is estimated at Rs. 38 crores. Aman divulges that he respects their food to the extent that he’s always wanted to invest in their business, and the day of their pitch marks the finest occasion to get into it after all.
Leading with USPs like a legacy that can’t be replicated, multiple restaurants that are earning well on their independent runs as well, they get the first offer from Vineeta at Rs. 90 lakhs for 1% equity. However, Namita, a vegetarian, couldn’t catch a differentiator in their dal and paneer sabzis. A long chat between the Sharks and the founders continues which finally brings us to Aman offering them a deal with a lesser valuation than Vineeta, but it’s already clear that they want him on-board.
The team steps back on to the stage after discussing the matter among each other. Presenting a counter to Aman, they directly address their pitch to him which makes Vineeta feel disregarded and she rebuffs her initial offer. The deal is finally closed with Aman for Rs. 90 lakhs against 1% equity, with the condition that he gets to be included in the secondary offload as well.
For the next pitch, Gursaurabh Singh is seen cycling in to introduce his brand ‘Dhruv Vidyut’ or ‘DV’. Speaking of an old loyal friend that’s now been left in the dust with the changing and racing times ahead, Singh is determined to commence a speed revolution with bicycles through the use of an accompanying kit – ‘DVEC’ i.e. an electric conversion kit.
He presents the most unique ask of the season by requesting the Sharks to invest 100 hours of their time for 0.5% equity. Without bringing in money to the deal, he simply hopes to learn and gain the Sharks’ expertise on running a business, something that he lacks in. An old video uploaded by him on his social media profiles even left Sharks Peyush, Aman and Anupam amazed and compelled them to reach out to him. However, he was too engrossed in the project at hand that he never got back to them, and only noticed the same when it was too late.
The USPs of his manufactured model include bolt-on capability, upgrading bicycles to electric and battery operated vehicles, 20 minutes of charging through pedalling followed by the conversion to an electric model, and water, dust, fire resistance, the latter end of which is even demonstrated to the Sharks. The kit model is made of aircraft grad aluminium which even blocks out the outer malfunctions from ruining the interior system. In order to move on from the present nascent stage of the project, his next step on the agenda is distribution, which requires the expertise of the Sharks.
Singh is aggressively vocal about how the changing medium of EVs in the same transportation business barely cares about its customers. With electric cycles or bikes being prices at the higher end of the scale, his manufacturing cost of the base model on the other hand is a mere Rs. 9000, but it’s still 45% more efficient than other brands.
Coming down to the Sharks’ critique, Anupam raises a valid issue about funding since the entrepreneur is only asking for hours of devotion on the Shark Tank platform. He offers him a conditional deal that he will join him on the mission if he’s able to raise Rs. 1 crore on his own. Next one to pitch in is Peyush, who collaborates with Aman on the deal and even offers Singh a free space at his new Bhiwadi factory to run the model’s manufacturing unit alongside people from his team. Promising a joint devotion of 18 months to come, Peyush and Aman will help him from the business building perspective as well.
However, Singh still holds on to the belief that Anupam will join him too. He praises his compatibility with him and his oratory skills that prove that he’ll be instrumental in resolving his confusions in the future. An unforeseen situation unfolds as the ‘DV’ founder seals the deal with both parties.
He’s handed out the joint contribution of 100 hours from the Sharks for 0.5% equity, with all three, i.e. Peyush, Aman and Anupam coming on board with the conditions that Aman and Peyush will be the first investors of ‘Dhruv Vidyut’ when it’s fully ready for business and that the founder has to single-handedly raise Rs. 1 crore for this to thrive as per Anupam’s side of the conditional offer.
‘Cellbell’ chairs roll out to conclude the pitches of the day. Ishwardas, Pawan and Chirag Demla announce their family business of stylish and comfortable chairs that offer viable options to office and gaming set-ups, along with the availability of custom bulk orders as well. The family pitches a funding request of Rs. 90 lakhs for 1.5% equity.
Their basic chairs are priced at Rs. 4000, while the boss chair is worth Rs. 8000 and the gaming range is around Rs. 16,000. Having started their business in 2019, the company has earned a grand amount of Rs. 50 crores as their lifetime sales and their monthly net profits climb up to Rs. 17-18 lakhs.
Despite the stellar sales and numbers, the Sharks are not able to pin-point the brand’s identifiers or differentiators. Peyush suggests them to focus on one aspect – either a particular category of chairs or the supply chain. All Sharks cancel out their chances of investing in the brand due to a lack of differentiation and the founders’ clarity on the matter. Anupam devises a strategy for them to implement and work on for brand building since their pitch is devoid of that kind of approach. Taking it away as more of a learning experience, the team walks out without a deal for the day.
Shark Tank India Season 2 episodes will be broadcasted on Sony Entertainment Television and live-streamed on SonyLIV from Monday to Friday at 10 PM IST.
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