Everyone loves a good hiking & camping experience. We look forward to taking days off our work, going to the middle of nowhere, camping there, and staying the night.
But what will happen if some unwanted animals knock on your door in the middle of nowhere? How will you handle the situation and defend yourself?
To ensure your safety during hiking and camping, Kyari Innovations comes in place. They have made the world’s first smart stick called Guardian.
Currently, 2000 forest guards are using this product, Guardian. This product is designed and made in India. Different forest departments and adventure enthusiasts are approaching them, that’s how they realized there’s really a market out there for this product.
They came to the Shark Tank seeking ₹51 Lakhs for 1% equity of the company. Which gives the company a valuation of ₹51 Crores.
Abhay Sharma shared one of his experiences where he faced a tiger in real life. He froze and couldn’t say anything out of fear. He stayed in the same place for quite some time and later he realized that these types of situations can happen from time to time, so he needs to be prepared next time. From that thought he wanted to make a safety product to ensure his safety.
Smart Stick Guardian has many features in it.
- It has different light modes. Not only you can see what’s at your front, but you can change the mode and look at what’s at the bottom as well.
- It has a loud alarm system to scare off the animals in front of you.
- It has a built-in taser at the bottom part. It can give a shock of 10,000 volts. It won’t kill the animal but it will definitely scare it away. Thus increasing your chance of surviving.
- It has a built-in power bank, so you can charge your phone with it too.
- It comes with a stand that can also be converted into an axe or shovel. It can be carried easily with a pouch.
- It comes with a wall hanger also. So If you want to show off your cool-looking stick in your house, then you can do that also.
Abhay is the designer of this product. The sharks were really impressed with the products as it has so many functionalities.
Camping is currently a growing market in India. It has a market size of ₹1000 Crores. And internationally the market size is $13 Billion.
|Fiscal Year||Annual Sales|
|2018 – 2019||₹8 Lakhs|
|2019 – 2020||₹30 Lakhs|
|2020 – 2021||₹1.2 Crores|
|2021 – 2022||₹1.4 Crores|
The price of a smart stick guardian varies from ₹10,000 to ₹17,500. The monthly profit margin is 30%.
Namita Thapar & Amit Jain gave the 1st combined offer. She offered ₹51 Lakhs for 10% equity of the company. Which gives the company a valuation of ₹5.1 Crores.
Aman Gupta, Peyush Bansal & Anupam Mittal gave the 2nd combined offer of ₹51 Lakhs for 12% equity of the company.
|Offer 1||Offer 2|
|Namita Thapar & Amit Jain – ₹51 Lakhs for 10%||Aman Gupta, Peyush Bansal & Anupam Mittal – ₹51 Lakhs for 12%|
The founders politely declined both offers. They were not willing to dilute more than 2% of the company.
Amit Jain & Namita Thapar changed their terms and offered ₹51 Lakhs for 8% of the company.
The founders even turned down that offer.
Peyush Bansal gave an individual offer. He offered ₹51 Lakhs for 5% of the company.
|Company Name||Kyari Innovations|
|Founders||Smratika Sharma & Abhay Sharma|
|Asked Amount||₹51 Lakhs for 1%|
|Final Deal||₹51 Lakhs for 6%|
|Sharks||Anupam Mittal & Peyush Bansal|
|Company Net Worth||₹8.5 Crores|
|Company Status||In Business|
There were some arguments back and forth between the sharks and the founders. But finally, they closed the deal at ₹51 Lakhs for 6% of the company. Which gives the company a valuation of ₹8.5 Crores.