- Founder: Poonam Bir Kasturi & Arjun Dev
- Business: Waste Management
- Ask: ₹ 80 Lakhs for 4% Equity
- Valuation/Net worth: ₹20 Crores
- Result: ₹ 30 Lakhs for 4% Equity and ₹ 50 Lakhs Debt @10% Interest
- Sharks: Namita Thapar
- Episode: Season 2 Episode 11
Daily Dump Shark Tank India Pitch:
Daily Dump, a company specializing in composting solutions, made its mark on Shark Tank India Season 2. Founded by Poonam Kasturi, the company presented its patented product, Terrabite, designed to simplify composting by converting daily household waste into fertilizer. They have a range of composters, including a patented product named Terrabite, which has made composting way easier.
Kasturi requested Rs 80 lakh for a 4% equity stake in her company during her pitch, emphasizing the practicality of her product for converting kitchen waste into valuable resources. She adds that it takes 20 days to turn waste into fertilizers. They also claimed to develop India’s first composter which goes by Khamba. The company was started in 2006, and they have basically created a new category that is used by over 80,000 families.
They sell in two types: the first one is community composters, which are sold in housing societies. They also sell home composters, which are sold to individuals through their own website and marketplaces. They market through different channels with a heavy focus on educating kids. They have made short films and also published books.
They did 3.75 Crores in FY21-22, but a year prior, which was FY19-20, they closed at 4.3 Crores. Their last month’s sales were at 26 Lakh. Their product Terrabite sells for ₹20,000, and Khamba sells for ₹3,500, and magic powder monthly cost is between ₹200-500. Their gross margin is at 45%, but they are just breaking even at the current scale. Poonam also shared that she has 95% of the equity, and 5% was given to ex-employees. They are still working with Arjun, but he would get about 30% of the company. Around 30% of the business comes from community & home composters, 50% from Terrabite, and the remaining from Magic powder.
Shark Tank India Negotiations:
Anupam goes out, citing that India has value customers, and with the price points, it’s hard to scale. Peyush recommends that the company should decrease the price of Bins and increase the price of Magic powder because that would bring recurring revenue. Peyush loved the mission but he feels like there are team-related challenges, and given those reasons, he steps out of the deal. Vineeta thinks this business is an uphill task, and it is not proven that it could scale, so she goes out of the deal. Aman goes out without giving any reasons.
Namita says that there is lots of competition in this space, their revenue is flat, there are issues with pricing and margin, but she wants to prove that this is investable and can make an impact, so given all that, she offers ₹ 30 Lakhs for 5% equity and ₹ 50 Lakhs Debt @10% Interest, valuing the company at 6 Crores. The company counters with ₹ 30 Lakhs for 3% equity and ₹ 50 Lakhs Debt @10% Interest. Namita counters that with ₹ 30 Lakhs for 4% equity and ₹ 50 Lakhs Debt @10% Interest. The company accepts that offer!
How is Daily Dump Doing After Shark Tank India?
Our research in the company revealed that the Shark Tank India deal with Namita Thapar closed, and not only is Namita an investor, but she also actively advocates and promotes the brand on her socials. She shared right after the episode aired that:
Our research in the company revealed that the Shark Tank India deal with Namita Thapar closed, and not only is Namita an investor, but she also actively advocates and promotes the brand on her socials. She shared right after the episode aired that she invested in Daily Dump for three key reasons:
- Every citizen needs to contribute towards a cleaner India; let’s stop expecting only the government, activists, NGOs to do this. Daily Dump is working towards changing people’s perceptions and taboos around waste through their awareness campaign. They provide an easy and affordable solution to ‘Make Composting a National Habit.’
- The social sector has received countless awards, as Poonam Bir Kasturi pointed out. What this sector needs is serious investor money. Impact investing in India exists, but it needs to be taken to the next level.
- Poonam Bir Kasturi is a woman entrepreneur who has championed this cause since 2006. Her pedigree and passion blew me away. An NID graduate, founder of Shristi School of Design, and recipient of over 19 awards, but it’s her tireless efforts in this field that have won her respect. Also, the way she roasted all the sharks in the pitch was priceless!
Shocking statistic – India generates a massive 62 million tonnes of waste each year. 30% is unaccounted for, and of the balance, 70%, only around 27% is treated. This is an unacceptable statistic!
She also shared: Let’s all ‘Be the Change we want to see.’
Daily Dump Current Status:
As of October 2023, Daily Dump has some excellent stats displayed on their website. They save over 65 thousand tons of compostable waste from going to trash. While their financials are not available publicly yet, we will update this information as soon as more information comes to light.
Who are Daily Dump Founders and What are their backgrounds before Shark Tank?
Poonam trained at the National Institute of Design, and she also started a craft company along with her friend in 1992. That company is called Industry Craft and is a very successful business, and she took an exit from that. She also set up Shristi School of Arts and Technology in 1996. She taught there and learned a lot and then opened this business. She’s been awarded by the Prime Minister of India for her contributions.
Arjun Dev has a background in the tech industry. He managed delivery for a large cybersecurity company as well. He went to school for an MBA from IIM Bangalore and Engineering from NIT.
Here are other Companies from Shark Tank India Season 2 Episode 11!
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