Shark Tank India has witnessed some game-changing startups, with their optimistic founders entering the Tank with the intention of enlisting the aid of the “Sharks”. Here are some of the flag-bearers of innovation that featured on the Tank:
1. Hoovu: Blooming Tradition, Innovating Delivery
Founded by sisters Yeshoda and Rhea Karuturi, Hoovu Fresh has revolutionised India’s floral market since 2019. With over 50 partner farmers, the Bengaluru-based startup swiftly delivers high-quality puja flowers, ensuring freshness for up to 15 days. Offering diverse products such as garlands and agarbattis, they’ve captured a wide market. The company’s revenue model, including one-time purchases and subscriptions, has proven lucrative, with flower prices ranging from Rs. 25 to Rs. 1,000. They’ve also penetrated third-party grocery delivery sites, expanding their reach. Hoovu Fresh’s success lies in blending tradition with innovation, providing convenient access to India’s rich floral heritage. As they continue to bloom, Hoovu Fresh remains dedicated to delivering fresh, culturally significant flowers to its customers’ doorsteps.
2. Brainwired
Brainwired, a groundbreaking agritech startup hailing from Kerala, made its mark on Season 1, Episode 18 of Shark Tank India with its innovative machine-learning device for livestock health monitoring, WeStock. Founded by Romeo P Jerard and Shreeshankar S Nair, Brainwired aims to revolutionise the livestock farming industry by providing cutting-edge technology at an accessible price point.
In a striking move, Romeo and Shreeshankar looked for ₹50 lakhs in return for 5% value of their organisation. Their convincing pitch grabbed the eye of Sharks Ashneer Grover, Peyush Bansal, Namita Thapar, and Aman Gupta, who rushed to perceive the capability of Brainwired’s answer.
After negotiations, Brainwired received ₹60 lakhs for 10% value, valuing the organisation at a noteworthy ₹6 crores. This successful deal not only provided the startup the necessary resources for expansion but also brought them the mentorship and support of seasoned entrepreneurs.
With a pledge to empower animal farmers and a vision of becoming a household name synonymous with trust and quality, Brainwired continues to make strides in the agritech sector. Through their commitment to innovation and value creation, Brainwired is poised to transform the lives of farmers across India, solidifying their position as trailblazers in the field of animal health monitoring.
3. ZOFF (Zone Of Fresh Food): Redefining Farm-to-Table Dining
In the 28th episode of Shark Tank India – Season 2, Zone Of Fresh Food (ZOFF) caused a disruption by securing a momentous Rs 1 crore financing at a valuation of Rs 80 crore. The funding came from Aman Gupta, co-founder of boAt, against a 1.25% value stake. Founded by siblings Akash and Ashish Agarwal in 2018, ZOFF revolutionised the Indian spice industry with its use of cutting-edge cold grinding technology, ensuring spices retain their purity and potency.
With an annual revenue of Rs 60 crore in the last financial year, ZOFF expects further growth, targeting Rs 65-70 crore in the ongoing fiscal year. This success is attributed to their emphasis on quality, innovative packaging, and robust online sales strategy. The funding will fuel marketing and operational efforts, facilitating expansion into new categories such as seasonings and condiments.
ZOFF’s vision includes diversifying product offerings while maintaining a core focus on delivering flavourful and nutritious spices. They aim to sustain an omni-channel strategy, leveraging both digital and physical mediums for market penetration. With 65% of sales from online channels and plans to intensify efforts in exports and modern trade, ZOFF is poised for continued revenue growth and industry leadership.
4. PadCare: Working on Feminine Hygiene
In a heartwarming tale of innovation and social impact, Ajinkya Dhariya, inspired by his son’s innocent curiosity, transformed his concern for menstrual hygiene into a groundbreaking startup, PadCare Labs. His vision on Shark Tank India Season 2 captured the hearts of four sharks, including Peyush Bansal, who offered a blank cheque, heralding him as the “Padman of 2022.”
With a mission to address the environmental and health hazards posed by traditional sanitary napkin disposal methods, PadCare offers cutting-edge solutions. Their patented 5D-technology-based PadCare bin stores and recycles sanitary waste, alongside PadCare X, which recycles napkins into wood pulp and plastics. The startup’s impact is evident in its rapid expansion, serving over 100 organizations and conserving 15 metric tons of carbon emissions.
Backed by grants from Tata Trust, Infosys Foundation, and government support, PadCare’s journey underscores the power of perseverance and familial support. Despite facing ridicule, Dhariya’s unwavering commitment to his cause has earned him recognition, including Forbes Asia’s 30 under 30 list. With global interest and support, PadCare Labs stands poised to revolutionise menstrual hygiene and environmental sustainability worldwide.
5. NeoMotion: Upsetting the Future of Electric Wheelchairs
NeoMotion, founded by Ashish Sharma, Swostik Dash, & Siddharth Daga, emerged as a beacon of innovation on Shark Tank India Season 2, Episode 18. Offering customised, tech-enabled wheelchairs, NeoMotion addresses the needs of over 1.5 crore people in India. Despite facing challenges, including the lack of direct competitors and the high cost of imported alternatives, NeoMotion thrived, generating revenue of INR 4.7 crore in FY 21-22, with a profit after tax of INR 30 lakhs.
Their convincing pitch on the show garnered significant attention, with Peyush Bansal offering INR 1 crore for 1% value at a valuation of INR 100 crore. This deal, however, came with a unique condition: NeoMotion would give 5% of its net profit to Bansal until the INR 1 crore investment was repaid.
Despite other offers on the table, NeoMotion stood firm on their original ask, showcasing their commitment to their vision and mission. With this landmark deal, NeoMotion continues its journey towards empowering specially-abled individuals across India while making significant strides in the realm of social impact entrepreneurship.
These five developments, showcased on Shark Tank India, offer a glimpse into the future of various industries. From sustainable fashion and personalised nutrition to farm-to-table dining and innovative sterilisation solutions, these entrepreneurs are paving the way for a more conscious, healthy, and technologically advanced future.
Shark Tank India has thus become a national phenomenon, igniting a spark of innovation and entrepreneurship across the country.
The showcased startups highlight the resourcefulness and problem-solving skills of Indian entrepreneurs, paving the way for a brighter future filled with innovative solutions and positive societal impact.
Also Read: Shark Tank India: Five Startups That Became Successful After The Show
