- Founders: Abhay Sharma and Smratika Sharma
- Business: Adventure Safety Gadgets
- Ask: ₹ 51 Lakhs for 1% Equity
- Valuation: ₹51 Crore
- Result: ₹ 51 Lakhs for 6% Equity
- Sharks: Anupam Mittal and Peyush Bansal
- Episode: Season 2 Episode 14
Kyari Innovation Shark Tank Pitch:
Kyari is an electronics brand that sells safety equipment designed to protect people outdoors. They have created the world’s first SmartStick Guardian, a product currently used by around 2000 forest guards. The SmartStick Guardian is entirely designed and manufactured in India, and Kyari’s vision is to ensure people’s safety outdoors worldwide. This innovative stick features a light, alarm system, and a 10,000-volt electric shock function. It can also double as a power bank.
India represents a 1000 Crore market for outdoor enthusiasts, and it is rapidly growing. However, the global market for camping alone is valued at 110,000 Crores. Surprisingly, there are no major Indian brands in this space. Kyari’s revenue has seen significant growth, with earnings of ₹8 Lakh in FY18-19, ₹30 lakh in the following year, ₹1.2 Cr in FY20-21, ₹1.4 Cr in FY21-22, and they have already made ₹75 Lakh this year. The SmartStick’s MRP ranges between ₹10,000-₹17,500, depending on the model, with a cost price between ₹2000-₹3500. They enjoy a net margin of 30% and recently made over 5 lakh in profits in the last month.
Kyari Shark Tank Negotiations:
During the Shark Tank pitch, Namita and Amit made the first offer of 51 Lakh for a 10% stake. Peyush, Aman, and Anupam then presented a joint offer of 51 Lakh for 12%. However, the entrepreneurs declined both offers and countered with a proposal of 51 Lakhs for a 2% stake. Aman decided to exit the deal after hearing the counteroffer. Namita and Amit then revised their offer to 51 Lakh for an 8% stake. Peyush revised their offer back to 10% with Anupam on board, but the entrepreneurs declined this as well. Peyush made one final offer of 51 Lakh for a 5% stake and expressed a willingness to proceed without Anupam if necessary. Amit then revised their offer to 6%. Anupam matched Amit’s offer, and the Kyari team accepted it.
So, was this the right investment for the Sharks? Let’s find out!
How is Kyari doing after Shark Tank India?
Our research into the company reveals that the deal with the Sharks went through, and the company is still in business. Contrary to the opinions of the Sharks, Kyari operates its business in three different entities: Kyari Wildlife, Kyari Innovation, and Kyari Adventure. They have expanded their product portfolio within the Wildlife category and are actively collaborating with forest authorities to improve the safety and well-being of forest rangers. Their products can be purchased through their website Kyari.in
Image source: Kyari Adventure Instagram
Here are updates on other companies from Season 2 Episode 14!
MOPP Foods
Econiture
Update coming soon!
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