Anupam Mittal gave high-praises during a rare all-shark deal at Shark Tank India 2 and said, “Bharat business seekh raha hai”. The heartwarming compliment by Mittal and the rare all-shark deal was given to two young entrepreneurs, Dhawal and Jayesh for their tea glass washing machine brand. During the pitch, Mittal also revealed that his team has provided grants to the entrepreneurs, and is looking forward to helping them expand their business and realise their true potential.
In the latest episode of the second season of business-reality show Shark Tank India, Jayesh and Dhawal presented their tea glass washing machine brand. The two entrepreneurs, who hail from a small village of Banaskantha, in Gujarat, sought Rs 30 lakh for 10% equity. During the presentation, Dhaval went into detail how he came up with the idea for making a tea glass washing machine to make sure hygiene can be maintained at the smallest of tea stalls.
Dhaval also said that he learned machine design from YouTube and made the first prototype by learning the ropes of the game through digital medium. After the entrepreneurs were done, all five sharks made an offer.
Soon, all the sharks came together, offering Rs 30 lakhs for 20% equity, and the deal was struck.
The Facts of the Matter
From portable medical devices, to motorized electronic wheelchairs, Shark Tank India has seen some truly visionary entrepreneurs pitch their innovative products and leave with a deal by the sharks. In most cases, one or two sharks opt in and strike a deal with pitchers. However, in a rare situation, the shark struck an all-panel deal with two entrepreneurs from Gujarat.
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The entrepreneurs who got an all-shark deal were 20-year-old Dhaval Nai and 22-year-old Jayesh Nai. They presented their tea glass washing machine brand, with a vision of making sure even the smallest of tea stall owners could provide teas in a more hygienic situation.
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An Idea Can Change Your Life
Giving more detail about the background of their product, Dhaval said that he once says his uncle, a tea stall vendor, drink water from the same tub where a goat was drinking water. Not only did Dhaval stop drinking there, he also decided to bring about a change in the landscape.
Due to the COVID-19 pandemic induced lockdown, Dhaval was stuck at home, and he used his time to go on YouTube and learn machine design. He then started working in a hardware shop, and made his first prototype there.
Getting Loan from Professor, Making First Prototype
He then got Rs 10,000 from his professor who was impressed with his vision. Ultimately, he made his first functional prototype, and sold his first machine. He also started getting interest from different vendors.
Anupam Mittal, who is a shark in the reality show, said that the two entrepreneurs received a grant from DreamDeal.com, an initiative started by him.
Creating First Functional Machine, Receiving Grant from Anupam Mittal
Using the grant by Anupam Mittal, Dhaval upgraded the prototype, and sold his first machine for Rs 28,000.
The machine can hold up to 38 liters of water, and can wash 250 glasses.
All sharks were left impressed at the product and the visionary entrepreneurs. So much so that Mittal went on to say, “Bharat business seekh raha hai (the nation is learning how to do business).”
Rare All-Shark Deal Takes Place
After a round of question and answers, all the sharks offered the two entrepreneurs a deal. Mittal offered Rs 30 lakhs for 20% stake. This prompted boAt co-founder Aman Gupta to also join Mittal’s offer. And in no time, Vineeta Singh, Namita Thapar, and Peyush Bansal joined. Eventually, the entrepreneurs shook hands at Rs 30 lakhs for 20% equity with all sharks on board.
We at Shiksha News salute the visionary entrepreneurs, and are excited to follow their journey.