From Finding The Right Househelp To Beekeeping – SharkTank India1 month ago Rituka M
In the tank today, many startups had innovative pitches not just to build a business but also to focus on major issues such as alleviating the lower-income groups and the environment. Intriguing the Sharks, all the startups secure a deal.
Broomees – India’s trusted homemakers bag a deal
Every day our lives become busier and it becomes harder to juggle between work and home. Finding the right and trustworthy house help, cook, or babysitter is a tedious job. Moreover, there are several issues faced by the workers that go unaccounted for. To deal with these issues, Niharika Jain, Saurav, and Vaibhav Agarwal started Broomees. With an aim to bring trained, verified, and reliable workers to everyone, Broomees bring them to you. Available on its website and app, Broomees is a platform where you can find the perfect and reliable help you need from the convenience of your home.
Additionally, they also provide benefits such as health insurance, child education, interest-free loans, female hygiene products, and a 3x salary. The workers and the company have a service partnership contract and the customers have a separate contract with the company. Broomees source the workers through their app or offline training centers or on-field campaigns. To avoid any issues, the app has fixed, non-negotiable salaries and feedback from ex-employers. Since the inception of Broomees, they have had 250 requests with 140 bookings. Functioning in South Delhi, Gurgaon, and New Delhi, Broomees has made 15L in revenue in FY21-22. Previously, they have raised funding of 4.2cr @28crore post-money valuation.
Seeking an investment of 80 lakhs for 2% equity @ a 40 crore valuation. Sharks Aman, Peyush & Namita offered a deal of 80 lakhs for 3% equity @ a 26.7 crores valuation. They also got an offer from Anupam for 80 lakhs for 2% equity @ a 40cr valuation. Broomees countered by wanting the 4 sharks to join in on a deal, but Anupam drooped out. Finally, Aman, Peyush, and Namita joined in on a deal and offered 1 crore for 3% equity @ a 33.33 crore valuation. Broomees chose this deal and are on a journey to expand to other states and develop the source of workers.
Ravel’s personalized haircare secures a conditional offer!
Every person is unique and every hair type is different. This brings different issues for every hair type. With multiple generic hair products available in the market, it becomes difficult to find products that cater to your specific hair type. To solve this problem, Ayush Varma founded Ravel. Ravel is a platform that allows users to create customized haircare products based on their questionnaire. The products are sulfate and paraben free. Users can personalize the products with their names and custom colors. Ravel is bootstrapped and was born in Jan 2021 and has sold 2 lakh products so far. For the last month, Ravel has sold 40 lakh products with a repeat of 20% month on month. The sales are 100% from the website with a net profit of 5.5 lakhs.
Seeking an investment of 75 lakhs for 2.5% equity @ a 30 crore valuation, Ravel got a conditional offer of 75 lakhs for 10% equity @ a 7.5 crore valuation from Shark Anupam. The condition is that Ravel needs to achieve Rs. 7.5 lakhs monthly profit in 2 months. The deal was sealed with this offer.
HoneyVeda bags a sweet deal from the Sharks
Honey Bees are a vital part of our environment and their rapid decline leads to various ecosystem disbalances. Without pollination, 70% of farming is in danger. Moreover, to make honey production leads to the destruction of honeybee colonies, causing a disbalance. To increase yield and produce better honey-quality products, brothers Hardik & Kashyap Joshi started HoneyVeda.
HoneyVeda is a sustainable way of beekeeping that also helps them extract honey without harming or destroying honey bee colonies. They have a 9-10 month seasonal business and are emerging into the exporter segment. Over the years, they have secured a position in the market as a B2B bulk supplier expert. They have the vision to make HoneyVeda a reliable D2C brand. They have successfully trained and educated over 200 farmers and tribals in beekeeping. With a growth rate of 45.7%, they have 53 lakhs in revenue year to date.
Seeking an investment of 75 Lakhs for 7.5% equity @ a 10 crore valuation, HoneyVeda aims to expand its bee colonies and achieve economies of scale. The Sharks were intrigued by the passion of the founders for protecting the bees, and Anupam and Vineeta gave them an offer. Pitching them a deal of 50 lakhs for 20% equity @ a 2.5crore valuation & 25L in debt @12% interest, the founders chose this offer happily. They aim to bring these organic honey products to the market while also safeguarding bees and enhancing farming.