Watchout Wearables Clocks In A Deal With The Sharks

Today, technology has become an integral part of everyone’s life. With lives becoming predominantly digital, even for kids, it becomes essential to have a device that can ensure that parents can keep a check on their kids. Discussing the need for this product, the founders dial back a 2008 incident that resulted in the death of his niece due to the absence of the ability to track her whereabouts in a building fire. Founded by Abhishek Baheti, Watchout Wearables aims to solve the problem of parents being stressed about their children’s whereabouts.

Features & Models of Watchout Wearables

Watchout Wearables is an independent wearable device that has multiple features such as safety, connectivity, and curiosity. It also has GPS, 4G nano-sim, 2MP Front Camera, 4GB internal storage, and WiFi & Bluetooth connectivity. Additionally, it also has a feature ‘one-touch SOS’, which sends an SOS message to the parents with a 30-second surround sound recording with the exact location of the child, if held for more than 3 seconds. Moreover, there is an anti-take-off alarm that sends a message to the parents if the watch is removed. The parents have the option to make calls and choose the watch modes to avoid any misuse during study time.

Currently, their flagship collection has 3 colors which are available at Hamleys, Firstcry, or other eCommerce platforms. Their latest launch with GPS and call features retails at 6,999 across the same channels. Moreover, they have an upcoming product for senior citizens which retails for Rs. 7999 and is available for pre-order on their website.

Primarily for users in the age group of 6-13, watchout wearables promote make in India. So far, there are over 3000 users on the platform and a copyrighted design. Currently, the product costs Rs. 10,000. The annual sales for FY 22-23 are 1.4 crores so far with 25L in sales last month. Their EBITDA is 35% with a net margin of 25%.

Pitching their product to the sharks, they ask for 2 crores for 5% equity @40 crore valuation. The sharks found their product intriguing and necessary and Vineeta & Anupam made an offer. Offering 1 crore for 10% equity and 1 crore in debt with @15% interest @10 crore valuation. After two counteroffers, the sharks did not budge and Watchout wearables went with the offer on the table.

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