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Shark Tank India is an Indian business series. The show is the Indian franchise of the American show Shark Tank. Several startups present their creative and innovative business ideas to a panel of judges and aim to secure funding. Judges evaluate the valuation of the business and provide funding to the startups in exchange for either ownership stakes or a specific percentage of equity in the company. The judges also provide valuable mentorship to help these startups navigate challenges they may encounter in their startup journey.
This season, the lineup of judges for Shark Tank features:
Aman Gupta - Co-founder and CMO of Indian electronics brand boAt Lifestyle.
Anupam Mittal - CEO & Founder of People Group and Shadi.com.
Radhika Gupta - MD & CEO @Edelweiss Mutual Fund.
Vineeta Singh - CEO & Co-founder of Sugar Cosmetics.
Varun Dua - Founder & CEO of Acko.
Shark Tank - Arista Vault
Purvi Roy and Atul Gupta are Co-founders of Arista Vault. They are from Delhi. Purvi met Atul and Karnal at India Runway Week 2017. Karnal is a technology officer, so these three decided to build this company and solve the problem of lost and stolen people. Atul topped the 10th class and got selected after giving the Railway Board exam. At the age of 17 years and 10 months, he was posted as a ticket collector on the railways. Atul said that he found it a bit difficult. So he left that and took retirement and joined it this year.
What does Arista Vault do?
Arista Vault is an innovative startup with the concept of smart technology for utility products to make life Easy & Simple. This business is Supported by electronics and information technology (MeitY). The product range includes the Follow Me suitcase, Smart wallets, Fingerprint lock bags, and others.
Features of the Follow Me suitcase are:
- Follows the switch
- Ride mode
- Can carry up to 120 kg
- Maximum speed - 7km H
- Mobile charging facility
- Removal battery
Innovative wallet features are:
- Misplace Alarm
- Location tracking
- Remote Selfie button
These products are manufactured in Kolkata, and manufacturing of bags is outsourced. Its specialties are technology, innovation, design, wallets, fashion tech, electronics, power, designing, disinfectant, health, smart, and shell.
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Company |
Arista Vault |
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Valuation |
INR 20 Cr. |
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Founder |
Purvi Roy and Atul Gupta |
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Headquarter |
Delhi |
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Founding year |
2018 |
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Business |
Appliances, Electrical, and Electronics Manufacturing |
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Profitability |
Yes |
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Got Investment |
Yes |
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Annual Sales |
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What did the Sharks say?
Aman Gupta opted out, saying that “How much will you be able to sustain it? I have doubts about it,” and gave suggestions that make your technology stronger as soon as possible and make the brand a little bigger so that you can compete with them in technology too.
Vineeta opted out, saying that “all the features in it have become very complicated in such an early stage of the business, and it seems very confusing.”
Varun also opted out, saying that “this category of business luggage will have two or three important features and in the long term there will be four or five, and all the big luggage companies will make these important features and they will have distribution, and If there is trust and design then it may be difficult for you to compete it.”
Radhika also opted out, saying that the “business seemed a bit early,” and she suggested that you should focus a little more.
Anupam offered Rs. 15 lakhs for 1% equity plus Rs. 30 lakhs debt at 18% interest for 2 years and valued the company at Rs. 15 Cr.
Purvi and Atul countered with an offer of Rs. 20 lakhs for 1% equity plus Rs. 25 lakhs debt at 18% interest for 2 years and valued the company at 20 Cr.
Then, Anupam gave a conditional offer of Rs. 20 lakhs for 1% equity plus Rs. 25 lakhs debt at 18% interest for 2 years and valued the company at Rs. 20 Cr.
Finally, They accepted Anupam’s offer, and the deal was closed on these terms.
Conclusion
It was an engaging episode where participants received an offer from shark Anupam Mittal, secured a deal with shark Anupam Mittal, and received valuable mentorship to help grow their businesses. Now, everyone is eagerly awaiting the next episode, looking forward to discovering more intriguing businesses and their strategies for raising funds from the panel of judges.
FAQ
