Founders of Pabiben.com, Homestrap, and Ubreathe Secure Deals with the Sharks, While Deyor Pitches Its Travel Chatbot Solution
Pabiben: Empowering Local Artisans with Unique Designs
Pabiben celebrates the Rabari embroidery tradition, a craft known for its intricate mirror work and vibrant colors. Traditionally, this art was a dowry item, leading to delays in marriages as women completed their work. To preserve this heritage, Pabiben was founded by Nilesh Priyadarshi and Rabari artisans to offer these handmade pieces to a global audience. Their platform supports artisans by transforming them into entrepreneurs through initiatives like the Kaarigar Clinic and Kaarigar ki Dukaan. With 500+ SKUs and lifetime sales of ₹2 crores, Pabiben achieved ₹36 lakhs in sales for FY21-22 with a net profit of 35%.
A Heartfelt Investment
Pabiben requested ₹50 lakhs for 5% equity at a ₹10 crore valuation. Shark Namita offered ₹5 lakhs for 2% equity at a ₹2 crore valuation plus ₹45 lakhs in interest-free debt. The founders countered with ₹10 lakhs for 5% equity and ₹45 lakhs in interest-free debt, leading to a deal with Namita.
Homestrap: Simplifying Home Organization
Homestrap, founded by Akash and Priyanka Mehta, offers solutions to streamline home organization, reducing clutter and enhancing convenience. With over 15 lakh customers and ₹17.2 crores in sales for FY21-22, they project ₹22 crores for FY22-23. Their products are available on their website and various e-commerce platforms.
Shark Anupam’s Investment
Homestrap sought ₹70 lakhs for 1% equity at a ₹70 crore valuation. Shark Anupam proposed ₹50 lakhs for 10% equity at a ₹5 crore valuation, plus ₹20 lakhs in debt at 10% interest. After countering with ₹50 lakhs for 7% equity and ₹20 lakhs in debt, the deal was sealed with Anupam.
Ubreathe: Enhancing Air Quality
Ubreathe, developed by Sanjay Misra and Shubham Singh, offers a plant-based smart air purifier that mimics the fresh air of 100 trees using breathing root technology. With three variants—Mini (₹5,000), Life (₹40,000), and Wall—Ubreathe has served 1,000 customers and aims to achieve ₹50 lakhs in sales for FY22-23. Backed by IIIT Ropar, their current sales total ₹27 lakhs.
Shark Namita’s Offer
Ubreathe sought ₹1.5 crores for 7.5% equity at a ₹20 crore valuation. Namita offered ₹50 lakhs for 5% equity and ₹1 crore in debt at 10% interest. Despite counteroffers, the deal was finalized with Namita’s original terms.
Deyor: Revolutionizing Travel Planning
Deyor’s travel chatbot simplifies the booking process by offering a personalized itinerary in three steps: interact with the chatbot, receive a custom itinerary, and book your holiday. Founded by Himanshu and Chirag in 2016, Deyor addresses the complex planning needs in India’s ₹3 lakh crore outbound market. With a 4.6% conversion rate and ₹9 crores in sales year-to-date, they project ₹24 crores for FY22-23. Despite seeking ₹1 crore for 1% equity at a ₹100 crore valuation, they did not secure an offer from the Sharks.