In this review of Shark Tank Pakistan, in less than 10 minutes, I analysed the five pitches in Shark Tank Pakistani Ep # 1 to help founders understand the key points while raising the investment. I have discussed all five startups and analysed them individually and mainly discussed the following points for each startup,
- Intro to startup
- If they have raised funding or not
- How much they asked and how much funding they got
- What are their positives and negatives while pitching to investors
- What are the main reasons for getting funding
- What are the main reasons for not getting funding
- What founders can learn from the pitch of five startups
Startups Pitched at Shark Tank Pakistan - Ep # 01
Startup: Knock Sports - Customize bats
Founder Name: Mawaz Taimia
- Asked: Rs. 75 lacs for 25% equity.?
- Valuation: Rs. 3 Cr
- Startup Stage: Revenue generating
- Market Size: $600M worldwide and $65M in Pakistan
- Product Price Range: 130K+ per compared to other brands cost 200-250K
- Revenue: Rs. 6 lakhs 2022, Rs. 20 lakhs 2023, Rs. 45 lakhs 2024
- Net Profit: 30% and can go uptown 40-45%
- Overall Cost per unit: 93K per
- Team Size: 4 people
- Working: Founder working in the industry since 2008 and for the last 4 years he has been in Sialkot to manufacture the bats
- Funding Received: 75 lacs for 30% and 10% Royalty
- Funding Breakdown: 55% buying raw materials, 15% buying machines, 30% human resource and marketing
- Shark who funded the startup: Romana, Rabeel, Usman Bashir
- Negative: The founder mentioned that there is no competitor in Pakistan. It gives a very negative impression to the investors that founders have not studied their competitors. Always remember that there is always competitors for such a saturated industry
- Positive: The market size, the founder's understanding of the space and most importantly growing revenue are the positive side of the startup.
Startup: Gum & Gums
Founder Name:
Hassan Kashif
- Asked: Rs. 70 lacs for 10% equity. Rs.? 7 Cr Valuation
- Startup Stage: Pre-revenue
- Already Raised funding: Rs. 10M
- Market Size: $4.9B
- Funding Received: No
- Founder Education: Higher education in the USA
- Negative: As per my analysis, the founders was not able to answer where they spent Rs. 10M raised earlier and why his product is not in the market with this amount. The other reason is that such innovative products need huge funding for research and testing and VCs in Shark Tank normally don't fund such startups
- Positive: The founder is highly qualified and working on something innovative but in early stages. If he keeps doing the stuff then he will surely grow his startup
Startup:
TrashIt
- Corporate Gifting from Waste Material and Producing Compost from Organic Waste
- Asked: Rs. 4.5 Cr for 7.5% equity.? Rs. 60 Cr Valuation
- Startup Stage: Revenue generating
- Already Raised Funding: Yes
- Market Size: 130M tons of waste in Pakistan
- Revenue: Rs. 1 Cr. in 2023 and Rs. 4.5 Cr projected revenue in 2024
- Net Profit: 10% net profitability
- Team Size: 8 people
- Working: 2017
- Funding Received: No
- Funding Breakdown: 30% new sites, 30% for pilot projects, 22% operations, 12% sales and marketing, 8% certifications
- Negative: I think the main reason they were not able to raise funds is they were asking for funding for a business model that they have not tried yet. It's a very risky for sharks and the other reason is they were not able to justify their valuation of the business
- Positive: The founders are amazing and have been working on the startup since 2017. The idea is innovative and will surely help formers to grow their productions but again innovation needs initial funding for testing and trial and sharks seem to me interested in only revenue-generating trading businesses.
- Asked: Rs. 5 Cr for 12.5% equity. Rs. 40 Cr Valuation
- Startup Stage: Revenue generating
- Market Size: $1.36B
- Revenue: Rs. 13 Cr 2023 and Rs. 15 Cr 2024
- Gross Margin: 60%
- Admin Expense: 8%
- Marketing: 9%
- Net Profit: 22%
- Working: Started first small shop in Nazimabad in 2008
- Funding offered: Rs. 5 Cr 50% equity from Faisal Aftab, Rs. 2 CR 30% equity and Rs. 3 Cr line of credit for the outlet
- Funding Breakdown: Two stores in Punjab. Rs. 1.5 Cr for one shop. 3Cr for shops. Rs. 1 Cr for marketing and Rs. 1 Cr for team building.
- Negative: He should mentioned the growth of the franchising model and explain the unit economics of each franchise, like monthly revenue, average monthly net profit and the capital required.
- Positive: He rejected the offer and I am really happy for him because he already has product market fit and it makes no sense to give up such huge equity at this stage. I think he should grow his business through franchising and
Exitbase
can help him make the complete franchising model and bring the investors for the growth.
Startup: Pink Salt
Founder Name: Wahab Ahmed Mubeen
- Asked: Rs. 80 lacs for 10% equity. Rs. 8 Cr Valuation
- Startup Stage: Revenue generating
- Product Price Range: $.88-1.2
- Revenue: $70K 2022, $86K 2023, and $66K 2024
- Working: For the last 3 years
- Funding Received: Rs. 80 lacs for 20% and 10% Royalty
- Sharks who funded the startup: Faisal, Rabeel, Usman Bashir
- Negative: The founder kept throwing ideas even after getting funding. I think founders should answer what they have been asked for and not try to become over-smart. Sometimes it backfired, founders should know how to maintain a balance
- Positive: The good thing about the founder, he studied the sharks and target Usman Bashir during his pitch and told the potential of the business 50K Kg container by just making a partnership with him. Such a type of homework is really good while you are pitching to investors.
Shark Tank Pakistan Ep # 01 Judges
The first episode was amazing and I must say
Green Entertainment
Grenlit Studios
Muhammad Rizwan Siddiqui
did a very good job. This show will surely spread awareness about the startup ecosystem in Pakistan and help founders grow.
We are very excited about this show and will keep reviewing each episode every Monday at 10 PM Pakistani time, so stay tuned, follow and subscribe to us.
Accounts Payable & Receivable | ECommerce | Digital Mktg
2 周Very informative and easy to save and recall in textual format. Well done, gentlemen. ??
Manager Sales & Services | Expert in Solution Selling| Abb Authorized Value Provider| Siemens Authorized System Integrator I Schneider Authorized Distributor
2 周This is a fantastic breakdown of the pitches in Shark Tank Pakistan's first episode. You've clearly analyzed each startup and identified key points for aspiring founders. You discuss both positive and negative aspects of each pitch, offering valuable insights.
CEO, .Net Architect | SAP Business By Design Professional | Boomi Professional | Trainer
2 周Good summary, keep it up will be waiting for next episode summary ??
Co- Founder Grenlit studios
2 周Good work ??
New Product Development Enthusiast ll MBA ll Entrepreneur & Innovator of Oral Hygiene Product
3 周Thanks for the detailed review, Muhammad Nabeel Appreciate the insights you shared for each startup. I’ve also posted about my Shark Tank experience – there were definitely some unexpected challenges, but I’m taking it all as a learning journey. Your analysis brings valuable points to light, and I’m glad to see this level of support for the startup ecosystem!?Looking forward to seeing your pitch