Shark Tank India has returned with its second instalment on Sony Entertainment Television and Sony LIV. Shark Tank India Season 2 episode 28 titled “Game Changers”, premiered on February 8, 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 28 Recap Contains Spoilers-
The first pitch of the day is a spicy affair indeed as the Agarwal brothers present their line of Indian masalas with ‘ZOFF’. Fleshing out a strong case for themselves, they introduce the Indian spice market’s worth priced at Rs. 80,000 crores. However, since most of the dealers in the spice game occupy an unorganised position in the sector, this leads to the addition of unwanted and unfiltered impurities in the spice packages which goes unnoticed by the public. With their brand, they’re emerging as an organised alternative that puts health first.
Aiming to become one of the top 5 Indian spice manufactures of the nation, and the topmost online player in the same game, they’ve even signed up with Shilpa Shetty as their ambassador to garner more trust. To achieve the goal mentioned earlier, they hope to earn a funding of Rs. 1 crore for 0.5% equity, a ‘masaledar’ evaluation for the Sharks as well.
Selling their products through their website, marketplace, 10,000 offline retail stores and horeca, they started out this mission in 2018, prior to which the brothers were engaged at a steel plant in Raipur, Chattisgarh. They challenge Namita to name four spice brands she’s familiar with and catch her in the act as she’s not able to do so. Having cracked open the online market for themselves, they convey that traditional companies dealing in the same category haven’t yet branched out to online platforms, while their own last month’s sales gathered from the online front amount to Rs. 4.5 crores.
While everything seems suitable with their sky-rocketing numbers, the Sharks are apprehensive to extend their hand forward due to a missing link, i.e. a CEO. Anupam, too, believes that they’ve merely stepped on tot he show from the marketing perspective and nothing else as their debt:equity ratio defines that the investor set to work with them will barely be able to own the equity under their name. Eventually, he spells out a conditional offer of Rs. 1 crore for 2% equity, and Aman places the same deal, but without any condition tagging along. Since the founders don’t respond to Anupam directly, he tears off his cheque and moves out.
Vineeta and Amit also make their pitches. A counter is placed for all three Sharks to come onboard with only 0.75% equity being offered to them collectively. As a final standing offer, Aman pitches them Rs. 1 crore for 1.25% equity, and the deal is sealed with him.
For the second pitch, Swapna Wagh revives the nostalgic feel for old games and classic toys with an Indian touch in order to push for skill development in children. ‘Desi Toys’ is a 100% made in India brand and guarantees its customers safe and durable toys which they sell through their own website, marketplaces and retails stores like Hamleys and more. To resuscitate that same vision of games among children, Swapna makes an ask of Rs. 50 lakhs for 3% equity.
Starting out in June 2017, the company’s sales for the previous financial year stand at Rs. 1.15 cores, while they’re projecting more than Rs. 2 crores for the present annual cycle. 80% sales out of these have made their way in through the B2B model and the average selling prices of their toys is tallied at Rs. 500. The Sharks are concerned about the high rates, but the entrepreneur assures them that manufacturing them with the help of artisans is an expensive case as opposed to the cheaper Chinese imports.
The biggest issue being faced by the company as of now is that of low visibility, which is where Swapna seeks help from the Sharks. The judges are elated to meet her and engage with her products that instantly kick in their memories of childhood and put them in a good mood. Namita is the first one to cancel out her chances of making an investment as she feels the market is too cluttered, especially with numerous players settling in from various ends.
Anupam appreciates the nostalgic factor, but claims that it can be easily copied by anyone. Scalability becomes another problematic setback for the Sharks. Amit, on the other hand, respects the founder and her clarity and zest towards her work, so he suggests a conditional offer which will require her to build a new category of toys while according ‘Desi Toys’ with a smaller occupancy in the same business. He goes big with the suggestion of 20% equity since he’ll be helping her with strategy building and other aspects as well, but the entrepreneur doesn’t move forward with it due to the high demands of stake.
The third and the final pitch brings an ‘alien’ concept of technology a bit closer to one’s comprehension as the ‘Cloudworx’ founder, Yuvraj Tomar, hopes to make metaverse simple and more accessible for the people of the nation. With a no code software-as-a-service (SaaS) metaverse platform, his team helps create 3D apps that can help monitor the digital twin of a company through its immersive user experience. The brand’s USP is that, with their platform one doesn’t need the coding framework to build apps, rather they can be worked out as easily as one operates the Microsoft PowerPoint functions.
To push for better accessibility of metaverse, Yuvraj is in need of an investment of Rs. 40 lakhs for 2% equity. He provides the Sharks with 3D heat mapping of their own companies like boAt and Emcure to make a better and personal appeal to them. Directing his address towards Namita, he ensures her that with the use of their technology, she can even remotely supervise her factories and working units by checking upon the energy mapping and presence heat mapping of their digital 3D framework.
‘Cloudworx’ has recorded lifetime sales around Rs. 1.4 crores in 1.5 years of its operation, and ultimately gets the final offer in the form of a joint deal with Anupam and Namita. They offer the company an investment of Rs. 40 lakhs for 5% equity, which is then countered by the founder to bring the equity down to 3.2% equity, and the Sharks shake on it.
Shark Tank India Season 2 Episode 28 : Final Thoughts
I think the final pitch was a bit uncomfortable for all of us, not because it had to do with a new kind of terminology or framework, but because the Sharks were once again seen divided on the matter. One can clearly recognise the kind of team play at work therein. Amit Jain is yet again pushed into a corner as he tries to break apart the business in front of him.
It’s quite evident that the other Sharks aren’t as familiar with the concept and the technicalities involved in it as he is. Does that mean that he has to shy away and keep his questions to himself and stop himself from interrogating a brand for which he may possibly make an investment?
Somehow, after a set interval of few episodes, the Sharks initiate this child’s play again and again, clearly demarcating their territory on the show and making him feel like an outsider who can’t fit in with their posse. While he raises his queries to the founder, the other side of the panel is seen rolling eyes at him in the distance. This isn’t acceptable from professional entrepreneurs like them, and even if it’s just a ploy at work to incite drama on the show, it’s become too repetitive for it to make it to the end.
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.
Also read: MasterChef India Season 7 Episode 28 Review: Chaotic Mess With Subpar Food Quality