- Entrepreneurs: Puneet Gupta
- Business: Skin Cleaning products
- Ask: ₹1 crore for 1% equity
- Valuation: ₹100 Crore
- Result: No Deal
- Sharks: No Deal
- Episode: Not Aired
Shark Tank Pitch:
In the intriguing Shark Tank pitch, Puneet addressed a pressing issue faced not only by everyday people but also by the defense forces operating in extreme cold temperatures: the scarcity of water for showering. To tackle this formidable challenge head-on, he introduced Clensta, a groundbreaking waterless bathing technology that allows individuals to achieve cleanliness and hygiene without the need for water. Initially launched in the United States, Clensta has since expanded its reach exponentially, boasting a presence in over 25,000 outlets, various online marketplaces, as well as within 500+ hospitals and over 100 defense bases.
Financials:-
Beneath the Clensta brand umbrella, not only waterless bathing solutions but also a comprehensive range of home care products is offered. They also include unique items such as pigeon repellents. Their initial funding round in 2018 secured ₹80 lakhs at an impressive ₹20 Crore valuation. Subsequent rounds demonstrated the company’s rapid ascent, with a valuation of ₹32.5 Crores that yielded an infusion of ₹3.9 Crores. An additional ₹1.25 Crores came from IAM, ultimately raising the valuation to a staggering ₹40 Crores. Most recently, Clensta achieved a significant milestone with a valuation of ₹90 Crores, securing a substantial ₹20 Crores in funding.
Despite their promising trajectory, it’s important to note that Clensta was not yet profitable at the time of the pitch, despite boasting a commendable monthly run rate (MRR) of 1.5 Crores. Nevertheless, they managed to achieve sales totaling approximately 13 Crores in the previous year. Sales were primarily fueled by the success of Clensta’s innovative waterless body bath product. which maintained an impressive 60% customer repeat rate. The company’s ambitious projection for the upcoming year aimed at reaching an impressive 60 Crores in sales.
Shark Tank Negotiations:-
During the intense Shark Tank negotiations, the effectiveness of Clensta’s product was scrutinized in comparison to conventional wet wipes. Puneet passionately defended his product’s superiority, emphasizing its unparalleled infection control capabilities. This has also earned the trust of prominent Indian hospitals. However, the Sharks expressed concerns about the relatively modest sales figure of 75 Lakhs. In response, Puneet reassured them that the company was diligently working on expanding its distribution channels to reach a broader market.
Despite differing opinions on market size and strategic direction, the Sharks ultimately decided not to invest. Ashneer cited concerns that Puneet might be distracted and more focused on building a personal brand than a sustainable business. Vineeta, on the other hand, struggled to grasp the branding strategy. Aman, although expressing a different perspective, also decided not to invest, citing the need for more time to prove the viability of this innovative category. Anupam and Peyush concurred with their fellow Sharks, expressing similar doubts about the clarity and focus of Clensta’s business approach.
How is Clensta doing after Shark Tank India?
it’s fascinating to learn that Clensta has persevered and thrived. The company has evolved to become known for its commitment to cruelty-free and environmentally conscious personal and home care products. Their extensive product line now encompasses not only skin care and hair care items but also wellness and home care solutions. All Clensta products are meticulously crafted to be free from harmful chemicals such as phthalates, parabens, and sulfates, aligning with their dedication to providing safe and eco-friendly options that enhance hygiene and well-being.
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Source: Clensta | The Better Way. (https://clensta.com/). Image: Clensta Instagram