‘Arista Vault’ के Smart Luggage में बैठकर Sharks ने की Ride | Shark Tank India S3 | Full Pitch

Summary

In this Shark Tank India episode, Purvi and Atul Gupta from Delhi pitch their startup, Arita World, offering innovative solutions to the luggage industry with their flagship product, a 'Follow Me' smart suitcase that promises hands-free airport navigation and the ability to carry the user. They've sold their smart products to 35,000 customers, aiming to solve lost and theft issues with technology such as app-connected wallets and fingerprint locks. Seeking ₹5 lakh for 1.5% equity, they showcase their journey, from inception at India Runway Week 2017 to securing investments and government support. The sharks express concerns over technology, branding, and scalability, leading to a nuanced negotiation, concluding with a conditional deal blending equity and debt.

Takeaways

• 💻 Atul Gupta and Purvi, founders of Arita World from Delhi, introduced an innovative smart luggage solution to the luggage industry.
• 🛍 The highlighted product is a 'Follow Me Suitcase' that can follow the owner, allowing for hands-free operation at airports.
• 🛎 Additionally, they've developed bags with fingerprint locks and a smart wallet that connects to an app for easy location of lost wallets or mobile phones.
• 📲 Their smart wallet also features a map location tracker and a remote selfie function, enhancing the travel experience with technology.
• 💵 Seeking an investment of ₹5 lakhs for 1.5% equity, showcasing their commitment to solving the problem of lost belongings with their innovative products.
• 💰 They have already sold their smart products to 35,000 customers, indicating market acceptance and potential for growth.
• 🔧 Their journey began at India Runway Week 2017, where the founders met and decided to address the hassle of lost and stolen items with their company.
• 💼 The team has received support from the Ministry of Electronics and IT, indicating governmental backing for their innovative solutions.
• 📈 They presented a strong financial background, with significant sales growth over the years and notable investments from various sources.
• 📱 Demonstrated the versatility and practicality of their products through live demonstrations, including the ability to ride the suitcase and its follow-me feature.

Q & A

What is the name of the startup founded by Pooja, Atul and Colonel?

The startup is named Arrita World.

What problem does Arrita World aim to solve for travelers?

Arrita World aims to solve the problem of luggage getting lost for travelers using their innovative products like smart luggage, smart wallets, and fingerprint locked bags.

What smart luggage features does Arrita World offer?

Arrita World's smart luggage comes with features like automated following capability, ability to ride on the luggage when tired, built-in charger, removable battery, selfie button, and GPS tracking.

How much funding has Arrita World raised so far?

Arrita World has raised Rs 2.5 million initially at a Rs 11 crore valuation. They then raised Rs 1.2 crore at Rs 12 crore valuation. Most recently, they raised Rs 1.4 crore at Rs 20 crore valuation.

What is Arrita World's main distribution channel?

Most of Arrita World's sales (30-40%) happens through their website e-commerce channel. The remaining major channels are B2B sales and corporate gifting.

How does Anupam view the market size opportunity?

Anupam is skeptical about the $14 billion market size claim. He estimates the realistic current market size for smart luggage to be around Rs. 450 crores in India.

What are some of Anupam's concerns regarding Arrita World's business?

Anupam is concerned that Arrita World's tech advantage may not be sustainable as bigger players can replicate it. He is also concerned about lack of manufacturing competitiveness and a confused branding strategy.

What counter offer does Anupam propose to Pooja and Atul?

Anupam offers Rs. 2 crores for 10% equity in Arrita World along with a Rs. 2.5 crore debt facility at 18% interest for 2 years.

What condition does Anupam put for his proposed investment?

Anupam's proposed investment is conditional on Arrita World's Dubai distributor deal for Rs. 10 crores in sales in the first year going through successfully.

Does Arrita World accept Anupam's offer?

Yes, Pooja and Atul accept Anupam's offer of Rs. 2 crores for 10% equity and Rs. 2.5 crore debt at 18% interest for 2 years.