Shark Tank India Startups: Then vs Now (Part 4)

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00:00 Intro
00:06 PddFalcon
02:12 CaneBOT
04:30 MAVI's Pantry
06:15 Let's Try
07:39 India Hemp and Co.

PddFalcon was founded by Chirag Visaria and Sneha Visaria, and it's a stainless steel product company. During their Shark Tank India appearance, Chirag Visaria and Sneha Visaria were asking for 75 lakh rupees in exchange for 3 percent equity of PddFalcon, but the sharks expressed concern over their marketing strategy and low gross margins, which restricted their ability to scale the brand. Today, Chirag Visaria and Sneha Visaria are proud to share that their annual turnover is projected to increase fivefold by the end of FY25, while also maintaining a 25 percent EBIDTA margin year-over-year.

CaneBOT was founded by Kirty Datar and Milind Datar with the goal of revolutionising how sugarcane juice is produced and consumed in India. Kirty Datar and Milind Datar were asking for 1 crore rupees in exchange for a 2.5 percent equity in CaneBOT. However, the sharks ultimately decided not to invest, expressing concerns about the founders managing too many different business verticals at once. Today, CaneBOT manufactures sugarcane juice vending machines. They hold 16 intellectual property assets, including 7 patents, they’ve also secured grants and equity funding totalling 2 crore rupees from the likes of BIRAC, IIT Bombay, IIT Ropar & Venture Center. Kirty Datar and Milind Datar project that their startup's valuation will have reached 250 crore rupees by 2026.

MAVI’s Pantry was founded by Vikram Mittal and Meenakshi Bhanj Deo - they are a fermented food and beverage company offering a number of products including artisanal, organic kombucha. On Shark Tank India Vikram Mittal and Meenakshi Bhanj Deo were asking for 40 lakh rupees for 5% equity in MAVI's Pantry. However, most of the sharks felt it was too early to back the business as kombucha was still a nascent product category in India. Since their appearance, sales at MAVI's Pantry have increased by 2 - 3X over the last three years, and they are cashflow positive although Vikram Mittal and Meenakshi Bhanj Deo do not take a salary.

Let’s Try is a company offering healthy versions of popular snacks like chips and crisps, cookies, and namkeen among other things, and when they went on Shark Tank India, they initially asked for 45 lakh rupees in exchange for 2 percent equity. They secured a deal with Aman Gupta and Anupam Mittal for that same 45 lakh rupees, but for 12 percent equity instead of 2 percent, at a 3.75 crore rupees valuation. However, later on Let’s Try decided not to raise money from Anupam Mittal, feeling that an investment from Aman Gupta aligned more closely with their objectives.

India Hemp and Co. was founded by Jayanti Bhattacharya and her sister Shalini Bhattacharya, and their focus is on creating hemp-based nutrition products. On Shark Tank India, Jayanti Bhattacharya was asking for 50 lakh rupees for 4 percent equity in India Hemp and Co. at a 12.5 crore rupee valuation, but no deal was finalized and Jayanti Bhattacharya walked away empty handed. While the sharks, especially Namita Thapar, appreciated the potential of the product, they expressed concerns about the market's readiness and the lack of a clear hero product. The brand has since shifted its focus to a D2C model, allowing them to better serve customers across the country. Their product range expanded to include topical hemp-based oils and India’s first hemp drink, Hempboocha, launched in 2023.