Hello and welcome to the grand finale of Amazon Prime Video's Mission Start Ab!
In the last six challenges,
founders lost, as well as won some boosters.
They laughed as well as cried.
And as long as he's with me, I will have double the strength.
And we will do all those things in life that we've always wanted to do.
Their every decision and every performance
have brought them to the finale.
The finale that can turn their dream into a billion-dollar dream.
At the stage we are in, we don't need an external CEO.
For what you just said, you deserve a hug.
I think you are the true comeback kids, for me at least.
You all are not only mature founders
but also very responsible.
It was clear that you understand each other's
strengths and weaknesses really, really well.
After the back-to-back challenges,
out of ten, only five founders have made it to the finale.
So, the question is, will their passion and hard work literally pay off?
We are about to find out very soon.
Let's call Mom. She must be sitting near the temple, praying.
Can you hear me?
-Okay. -Yes, I can hear you.
Kuldeep is right here with me. Look.
So, we got done with our last challenge.
-It was the sixth challenge. -Yes.
And we became the top performers. We came first.
-Really? -Yes!
Nice.
I feel the grand finale is going to be very emotional.
Because two of the companies are raising funds for the first time.
We're raising funds at the VC level. Our company and JioVio.
So, I feel there will be that pressure to understand how funding works.
Aren't you sleepy? Go to sleep.
I can't sleep. I'm really nervous.
Why? Everything will be okay. We will do it.
How many times did I get rejected last time in the first round?
Yes. They had a long list.
They had a long list, right?
Now, imagine, if they tell me those reasons for rejection on camera,
then the entire world will come to know about them, right?
So, then that will make me feel demotivated.
Because those moments will be on TV for everyone to watch for years.
Who knows, maybe even our kids will watch it!
They'll see how their parents got rejected.
When it comes to our presentation, we are ready. Our ask is ready.
Now, we just need to see
whether our wavelength matches with the investors'.
It's going to be the toughest so far…
So, this is going to be a negotiation--
It's not a simulation anymore. It's a real world.
-Yeah. -Yeah.
It is going to be a one-on-one war.
The founders will get funding on Mission Start Ab
with the help of their boosters.
And founders will have to make a choice and place their booster
in front of the investor they want.
And only that particular investor's golden booster will be unlocked.
Only then can the negotiations begin.
Now, the founders will understand the real value of the boosters.
Pension Box, Re-Desyn, and JioVio have three boosters…
which means they can negotiate with all the investors.
But DTown Robotics has two boosters…
and Yatrikart has only one booster.
Now, we'll have to see the result of the founders' decision.
So, who will get the funding? We are about to find out.
We have three boosters.
So, everyone must've realized that we are strong competitors.
We became the top performer twice.
So, now we've got the first chance…
-Yeah. -to go and deal with everyone.
So, Kuldeep and Shivam. Today is the finale.
Today, we'll finally talk about funding
-after so many challenges. -Definitely.
You put in the boosters for all three of us.
So, you want to discuss funding with all three of us.
-Definitely! -Let's begin.
First of all, this is very overwhelming.
I know. I see you're looking nervous for the first time.
How many times have you done this?
Please just relax, okay?
We, as investors,
don't get to see any founder's journey in so much detail.
Yeah.
You look at them, you evaluate their business, and you go see…
But over the six challenges, we've seen you not just…
We've not just seen how you react, and what you do,
but we've also seen your growth, literally.
Shivam, especially, in your case.
-You know… -Yeah.
We've literally seen you come out of your shell.
And we've seen how the co-founders react to different situations together.
Yeah.
So, that for me, has been interesting and very amazing.
I'd like to start by saying a couple of things about Pension Box
that may not have been covered yet.
Pension Box is a fintech start-up.
It's a bit different if we look at three specific parameters.
First of all, in any fintech, licenses and regulations are very important.
And we took the most time to get those in place.
After that, we spent time working on integration and CRAs.
And finally, now, we're starting to generate revenue.
Now, with this particular scale, where we're in Mission Start Ab,
with B2B2C modes, we're heading toward that visibility and scale.
So, this is a very important turn for us to be here.
And that is the reason I'm nervous
and going red in the face while talking about it.
Today, we're here to raise about three crores
for 7.5 percent of equity.
At what valuation do you want to raise it?
We have structured the entire round of eight crores
at a 40 crore valuation, which is a 20 percent dilution
for the entire round that we look at.
We already have an angel investor who has started their own fund.
So, we can cover up to four crores
with the existing investors we have.
We're here to raise three crores out of the remaining four crores.
What about the remaining one?
So, we've kept that one for the remaining angel
whose confirmation we haven't gotten yet.
-I see. -So, we've kept that window open.
Kuldeep, after this round, how much will be your equity?
So, right now, we have 80% equity.
And after this particular round, we'll be somewhere around…
64 or so, because everyone else will also get diluted.
Okay. So, you must be aware of Titan Capital.
-Yes. -We have invested in
more than 250 companies in the last 12 years.
Cumulatively, the portfolio employs lakhs of people.
-Yeah. -And the cumulative value
of the companies in our portfolio is over 30 billion dollars.
-Yeah. -So…
I do feel there are some synergies in our portfolio.
I liked what you said before that this is a licensed business,
and that it takes time for integration.
That is the kind of fintech business I like.
Because not everybody has the patience
-to get a license. -Yeah.
Only those who are committed to their business pursue a license.
Yes.
But a lot of the hard work is still remaining.
Done. Agree.
And because of that, I feel that the valuation that you're asking for
is not appropriate as per the company's stage.
-Okay. -Okay.
So, I'd request you to reconsider the valuation.
Right now, we already discussed this alternate strategy before coming in.
Because we had the night to ourselves,
we covered every other scenario that may come up.
Our burn is 5.5 lakh rupees right now. So, even if we had,
you know, an optimum way where we don't scale the team, we don't do marketing
and just wait, put our head down and do B2B,
we can manage with one crore rupees.
Shivam, we're putting money in for you to scale, not to survive.
Agree. So, the second thing is we'll go about 2.5 crores to 3 crores,
where we double up the team as well
and put efforts into the B2B parts, which are aggressive enough.
And it's not way too aggressive, but good enough,
where the burn becomes ten or twelve,
and then parallelly, you go about 12 to 18 months of runaway,
and then go from there.
If your expenses for a month are more than your revenue,
then the extra expenditure over and above your revenue is called your burn rate.
Pension Box's burn rate is 5.5 lakhs per month,
which means they have nine months of runaway left.
So, in nine months, their total cash balance will be zero.
So, 2.5 or 3 crores at a valuation of 30 crores,
that is ten to twelve percent dilution.
So, guys, I don't want to waste your time.
For me, this valuation is far mismatched.
And so, maybe these two should continue the conversation.
But we're really quite far off from each other in that journey.
Unfortunately, I will not be able to invest.
Mr. Kunal, you've seen similar companies on a similar journey.
So, what are your thoughts on the valuation part of it?
Look, I don't like to beat around the bush.
Yes.
So, I usually… I don't have the patience for this.
-So, I just get to the point. -Sure.
See, 40 was a non-starter. I think 30 is also high.
I'll give you a couple of options.
-Sure. -Then tell me what works for you,
if anything.
And if it doesn't, that's okay.
I actually feel one crore is too less.
There is no point in compromising
-so much and running the company. -Yeah.
You'll always feel stretched.
You won't be able to do anything and still have to run the company.
If you want to run a company, run it properly.
-Agree. -Play to win.
And for that, you'll need more money than that.
You said one crore.
So, I can invest one crore at 30 crores valuation post-money.
I have one more option for you.
I can invest one and a half crore at 25 crores post-money.
And I have one more option.
I can invest two crores at 20 crores post-money.
I want the winning streak to continue for you all.
I would like to join Kunal on that two-crore deal.
By adding another 50 lakhs from my side.
Which completes your 2.5 crores at 20 crores valuation.
You'll not only get money but also our time.
-There are more than 1500 WOW employees. -Yeah.
You can pilot test, and try with us.
You have my marketing team
available in Bengaluru if you ever want to do B2C.
We're a few kilometers away.
And you will have a mentor in Bengaluru with you, guarding you.
As a deal. So, I'm with Kunal on the deal.
Just one quick thought there.
So, will you be okay to join Kunal on the 25-crore valuation
and put in 1.5 crore?
Because 20 crores becomes a down round,
and that won't be fair to the existing investors.
So, 1.5 crores and 50 lakhs from you, which makes it two crores at 25.
Will that be a possibility? A collaboration between…
I'm okay with it but on one condition.
We'll never get down to two or three months of runway as a business.
The runway management has to be the best.
And we're here to win, not survive.
-What do you say, Kunal? -I think we have a deal.
It's a deal! Manish and Kunal.
Thank you so much!
-All the best. -Thank you.
Good one, bro. We have opened our account.
Well, I have an investment in an account.
Yeah?
Finally, we got a kick-start.
Winning this show is very important to me
because I want an Indian company to be loved by people from all over the world.
And if we don't win, that dream of mine will remain incomplete.
All right. So, all three of us want to know
if you have something that you want to table
about what we're here to really discuss.
Like what your ask is, how much fund you want to raise, and at what valuation.
Sure.
So, our previous round was at 32 crores floor
and 50 crores cap.
It was a CCD convertible round.
We had raised 3.5 crores.
We want to raise 2.5 crores now.
At a 40 crore floor and a 60 crore cap.
Floor means the current estimated valuation.
And cap means the future estimated valuation.
That means Re-Desyn's current valuation is 40 crores.
And their future expected valuation is 60 crores.
We've got growth triggers for this.
We've recently cracked YouTube.
So, I believe this will give us the jump.
We will definitely go to at least two to three crores
in monthly revenue, in the next six months.
I think it's a lot. It's… I mean, you are talking about the future.
It's like, "You put a little faith in us, and this will happen."
So, for me, the valuation is a little mismatched, honestly.
Shikhar and Smriti, platform businesses are very difficult.
It requires a lot of effort. It requires expertise.
Even I agree with Anisha on this
that there is a mismatch between the valuation and opportunity.
-Got it. -Okay.
Our second option was…
So, as the same as previous round valuations,
which is 32 crore floor and 48 crore cap
and 20 percent discount at 12 months,
we would like to raise two crores from you guys.
Why don't you want to do a priced round?
Why are you going for these weird convertible rounds?
I almost never go for convertible rounds, and there is a reason for that.
Because of convertible rounds, the interests
of the investor and the founder get misaligned.
Okay.
-Okay. -Because the investor,
in this case, wants their investment
-to convert close to the floor. -Yes.
-Yeah. -The founder wants…
-Cap. -the investor's investment
-to convert close to cap. -Cap.
I don't enter partnerships where I am not aligned
absolutely 110 percent with the founder.
When we raised the convertible round last time,
it was our current investors who came up with the idea
that we wanted to go to this round.
We are unable to put a value based on the current traction.
That's why the convertible round was structured.
So, I'd request you all not to look at the CCD round
as a mismatch between the investor and the founder.
And I'm inviting you to the round at which our investors
put faith in us at this valuation. We've shown them our performance.
Those numbers exist, and those numbers will continue to grow.
And we will definitely raise the next round--
Let me ask you a question.
Are you willing to walk away without an investment…
if the valuation is below 32 crores?
Kunal, it'd be unfair on our part
-to not-- -It's a yes or no answer.
If you give us clear answers, so will we.
We'd love to invite you for 1.5 to 2 crores
on a 32-floor 48 cap.
But I don't want to let down our investors,
who are already with us on this journey.
So, if we are unable to meet,
unfortunately, I will have to take their side
because they've been with me for the longest time.
Shikhar and Smriti…
We can invest.
However, at a fixed valuation.
Okay.
Respecting your wishes,
we are happy to invest 1.5 crores
between Anisha and myself.
Okay.
At a 32 crore valuation in Re-Desyn.
Okay.
I think it's a very fair middle ground to meet you all at.
So, I hope you take that into consideration.
You don't want me?
No. I was just going to ask why you aren't joining--
Guys, are you good with debt?
May I know the terms of the debt?
Fifteen percent.
But I want a coupon of 25 lakhs equity
anytime, whenever you raise next,
-at the floor at 32. -Okay.
Coupon works exactly like any coupon.
Manish's 25-lakh-rupee coupon will turn into 25-lakh-rupee shares.
By the way, Shikhar, I'm not investing if you are going to take this deal.
-Sure. I'm just hearing-- -Yeah, but I'm just saying.
He asked for debt.
I know, but I'm just saying.
And you should offer what makes sense to you.
-But I won't invest. -I'm out as well.
Unfortunately, because servicing the debt is going to be at a very high cost.
-Debt always sits on top of equity. -Okay.
Why would we invest if it's coming with a debt?
And a coupon.
Right.
I hear you, Manish. Thank you for the offer.
We aren't exploring debt either.
-We are-- -You said you were open to debt, right?
-No, I said I wanted to hear the offer. -We wanted to hear
-What the terms of the debt were. -your offer.
But at this point, I'd like…
We'd really appreciate it if you try and join this deal.
Your expertise matters a lot to us.
We've been definitely experiencing synergy for a while.
We'll never disregard the customer angle.
-But we'd love to have you on this deal. -I hear you, guys.
I'd like you to know we have stretched our…
Where we'd started from.
So, please, there will be no counter-offering.
Just to not waste time.
-Sure. -This is my comfort zone.
As much as we can go.
-Shikhar, we heard you. -Right.
-Yes. -We deliberated and gave you a fair offer.
-This is a fair offer. -Got it.
I don't want to discuss this anymore.
Manish, would you like to join in this offer--
I want to hear what he wants to say.
You've seen us on this journey. Please tilt to our side.
I think we already did. Our starting point was not 32.
Right.
I like the fact that you are batting for your previous investors.
But as a founder, you need to decide
that you need to take the company forward.
Shikhar and Smriti, there is a lot of work to be done.
And I'm switching from debt to equity.
Okay. Thanks for that, Manish. I really appreciate that.
So you will participate equally in the round
-with 50 lakhs each. -That is correct.
We are going to invest 50 lakhs each.
You will get all three of us at the cap table.
But it will be at 32.
The ball is in your court.
We should never refuse money. Just in general.
-Yes, so I think-- -One second.
Can we take the last 20 seconds?
-It's a dangerous 20-second-- -I think you should decide now
before we change our mind.
-No. -This is also one of the risks.
I think we've made up our minds.
Together, we'll make this the biggest creator economy platform in the country.
-Let's do it. -I think… Yeah, let's do it.
Okay, it is 1.5 crores total round
from us, which is 50 lakhs from each of us.
-At a 32 crore valuation. -Yes.
-Right? -Yeah.
-Okay, we have a deal. -Let's do it.
-Excited to be doing this, guys. -Yeah.
-Thank you once again. -Thank you.
-Thank you, guys. Looking forward. -Congratulations.
-Thank you so much. -Good one, guys.
I think I loved the deal! I loved it!
We have Kunal, Manish, and Anisha, all three of them with us!
Oh, wow!
Salute, Shikhar. That stand you've taken for our investors.
This episode will be remembered forever.
This was our first investment, so the environment seemed pretty intense.
We were deciding how to go about it.
It was crucial for us as we only had two boosters.
-We only have two boosters. -How are we going to use them?
Right now, we have two negotiations.
All of their domain expertise is different.
Mr. Kunal has a big portfolio. He has the knowledge of supply chain.
Mr. Manish can help us with B2C, and Ms. Anisha can help us with B2B.
We have to decide whether we want to go ahead with B2C.
If we decide that, we'll know whom to choose.
Let's dig out some information about two people.
The first one is Ms. Anisha, and the second one is Mr. Manish.
We had to say no to one.
So, we had to decide whom to say no to.
And ultimately, we had to decide
who could scale our business to that level.
Betrayal!
Manas and Avinash, thank you for selecting me.
Oh, my God! Thank you for selecting me as well.
No, ma'am…
-Thank you. -Please, have a seat.
-What is this? You betrayed me. -No, sir. It's not betrayal.
It took us two days to come to this decision.
It was very hard for us.
We want everyone to be
part of the family, but boosters are the real game.
-Drones are my passion. -That's what I want to understand.
-You know how much Manish loves drones. -Yes.
Sir, we know that his biggest strength
-is building a brand in the B2C gameplay. -Correct.
And I feel we require a lot of capital for that.
-Yes. -Because he told us that whenever…
We'll connect, whether it's here or outside.
-And he'll help us build a brand. -Awesome.
-Smart decision, guys. -Thank you so much.
But I'd like to know from you guys, for this fundraise…
How much money do you want to raise, and at what valuation?
Since it's our first check,
we're following the formula of what we've built till now.
So, we're right now raising at 33 crores,
and the actual capital investment that we're looking at is 30 crores.
-I'm sorry. Could you please repeat it? -The floor cap is 30 crores.
The maximum we are looking for is 33 crores.
-Floor is 30 and cap is 33. -33, yes.
What sort of a deal is that?
-It's a bit… -There should be a small gap.
-I mean, if you tell us the proportion… -From that standpoint
-whether you raise at 30 or 33… -Yes.
-The dilution won't be much different. -Yes.
We want to start at six percent, 30 crore valuation.
We have the plan for the next year ready.
And considering our presence on Mission Start Ab,
I'm expecting four times the growth
by the end of the next two years.
You are raising 1.8 crores
-at a 30 crore valuation. -Almost, yes.
-Is that right? Roughly. -Yes.
-What do you think? -We'll get it.
Avinash and Manas, I really like your journey.
But…
I really believe that this isn't the right time
to be raising from venture investors at all.
You are doing phenomenal already in different sectors.
-Agri-tech and department of defense. -Yes.
You will keep growing in both of those.
We don't think I'm going to add enough value
to you all and your company.
What I do want to do is be able to help you.
We've talked about many things
-that are common to us. -Yes.
Where we can help you. I really want to stay in touch, but unfortunately…
I will not be able to invest.
Manas and Avinash.
Whenever you speak about your product,
you mesmerize me. I mean, I get engrossed.
This is a competitive space.
The differentiation between the products is not very clear.
And I feel you're very smart,
but you still need some time
to create the differentiation.
Considering the competitive dynamics of this industry
and your current valuation,
I won't be able to invest for now.
And I know you might find this disappointing.
-Well, yes… -But this doesn't mean
we can't engage in the future.
I'd like you to take the company forward.
-Absolutely, sir. -You've worked hard and come this far.
Create differentiation.
We'll engage again after some time.
-Surely. -Surely.
-This is not the end. -Definitely.
-Absolutely. -But thank you for all your efforts
-and your participation in this show. -Thank you so much, sir.
-Manas and Avinash. -Yes.
You're both very smart and hungry founders.
I've personally been in situations like these many times.
But what mattered to me was the learning after this.
-Absolutely, sir. -And you already know…
that my doors, my heart are always open for you, anytime.
-Absolutely, sir. -Right.
-But we want to wish you the very best. -Thank you.
-All the best. -Absolutely. Thank you.
-Remember, reach out to me -I'm going to give you a hug.
-for whatever you require. -Thank you.
-Thank you so much, sir. -Don't change.
They didn't get any deal!
-Absolutely, sir. Love you. -We will be in touch. All right?
-We will keep in touch. -Yes.
The deal didn't go through. They didn't take it.
They didn't take the deal.
Ultimately, you know what happens is, if the vibes don't match here,
it will definitely match with someone outside.
But a connection has been made.
What can be better than that? This is business.
There are more important things in business than emotions.
The connections and ethics are also important.
So, that's the game.
Winning this competition is very important for us
because it will instill belief in all the young entrepreneurs of the country
from small towns.
They can go back to their hometowns, solve their problems,
and still be able to build a global start-up.
-Hi, Senthil! Hi, Dhinesh! -Hello, sir!
-Have a seat. Let's get started. -Thank you.
So, we've heard you guys pitch everything.
Is there something you'd like to say? Otherwise, we'd love to know from you
what you're looking for from us in terms of valuation and ask in terms of funding.
So, for us… We're planning to raise two crores in funding.
Diluting five percent of the company.
Okay.
I'd love to understand from you a little bit more
-on how you came about the valuation. -Yeah.
If you believe this would be justified for a company that is just starting
its journey in the business world.
Well, the hard work of building that went in the three-year period.
Okay, that is the business component,
and another is the technology, which is deep-tech and also the AI.
So, all of this needs a lot of upfront investment.
That's how we came to the valuation.
Can you give us a minute?
-For us to discuss? -Yes.
I think we can talk to them about doing it at 20.
Yeah, I think we just say 20.
Guys, just 25 and 20 is not making any difference…
Let's just say 20, take a hard stand,
-and say, "This is our last offer." -Yeah.
If you take it, great, otherwise…
Okay, so we do have an offer that we want to put to you,
-given that it's three of us. -Yeah.
We're proposing that together,
we will put in one crore for a 15 crore valuation.
Plus, we will incubate you in our Bengaluru office.
From marketing, innovation, branding, marketplace,
selling on Amazon…
We will incubate you in our Bengaluru office
as a sweetener to the deal.
See, the only problem is… You know, 15 crore would be…
No one in the country can build this technology.
After putting in four years of hard work and lots of piloting effort,
if this is what the company is valued at, then people will think
it's better to buy and sell it to hospitals and make good revenue…
Senthil, counter it.
You have all the options to counter it.
Sir, 30 crore is the number…
-The thing is… -Senthil, are you saying that
if it's below 30, there's no deal that would be acceptable to you?
-Not 15. It is really less. -Okay. That's what.
-Fifteen is… -Is there another number
that you would like to propose?
If it can be 25…
Because at 15, I'm kind of saying…
Our hard work and efforts over three years won't have any value.
The only thing is, I don't want to create an impression
for the youngsters that this is the outcome
despite all the efforts and wonder what the purpose is.
I don't want the young generation to have that perception.
The perception is never shaped by valuation.
-Yes. -Perception is shaped by the value
you create in the business.
If you think valuation is a metric of your success
then already, you are on a very different understanding than we are.
The impression I'm getting is
you are feeling like we are pushing you into a corner.
We don't want to do that at all.
So, you should see whether this is meaningful to you or not.
This relationship.
No, what I want to propose is, one crore for a 25 crore valuation.
I think, in life, it's always better to meet midway.
So, you said 25, we are going to say 20.
And I hope we can close it at 20.
-Yes. -Fine.
-Yeah, we can. Yeah. -Done?
-All right! Look at that! -Thanks.
Congratulations, Dhinesh.
I'll relive this again.
-Congratulations, guys! Congratulations! -Thank you so much.
-Thank you. -Welcome.
-Thank you so much, sir. -I wish you all the best.
Thank you so much.
It has three boosters.
We just have a single booster in the finale now.
And we started calculating about whom to choose.
And I was getting a different feel about Anisha,
sort of like a connection.
But at that same time, we were thinking about Kunal.
Kunal can put in a big check.
-He has good experience and network. -He understands our product well
and our market.
And at the same time, we were thinking about Manish.
-Gaurav, I want you to do well. -Thank you, sir.
-Shivangee, you too. -We were confused.
Gaurav and Shivangee, you just have one booster.
Think well before you decide.
Who do you want among the three of us?
-Very tough decision. -It is.
It's very tough.
Generally, you know, I don't trust people's words.
I trust vibes more than words, right?
But we were so confused,
and couldn't decide whom to pick between Anisha, Manish, and Kunal.
-We had no clue, to be frank. -We were confused.
My heart is beating faster.
Go ahead, let's start.
-I'm really confused. -Decide something.
We'll go with the one who comes to our mind first.
-I'm sorry. -Sorry!
Oh, okay!
We thought about it a lot.
We need more…
As I said before, we are looking for a believer.
So, you don't want us.
-No, please join us. -That's not it.
It's the situation. We wanted all three of you, obviously.
-The situation is such that… -But we were stuck.
Their loss, my gain.
Maybe, we'll know soon about which way this works.
-Yeah. -Gaurav and Shivangee,
I make no secret of it.
I like husband-wife duos or partner couples
-who work together. -Yes.
If you have all your eggs in one basket,
you will fight for it no matter what.
-It is… -A 24 hour job.
-You have to make it work. -We really work 24 hours.
As husband and wife.
And I like strong female founders.
You are a strong force behind Yatrikart.
Now I'd love to know from you
what is your ask.
What's your ask, and at what valuation?
We want to do a CCPS round at around 60 crores floor
and 80 crores cap.
For three crores.
What you just said makes no sense to me.
-No, absolutely… -Let's have a serious discussion now.
Okay? Really rethink
and tell me what you think is a realistic ask for you.
I think it's a reasonable ask. I have two reasons why.
Firstly, it's a capital-intensive business.
-Yes. -So, of course, we need more funds.
And we want to save equity for the next rounds. Right?
Because we trust our product.
We are very confident about our product.
-And we are very strong on this-- -I'll just cut this.
I will tell you we are very far from each other in terms of valuation.
Okay?
-Do you have a counteroffer? -Yes.
-This conversation isn't progressing. -I want to have…
I want to hear a counteroffer from your side.
I'd like to know what you raised your last round at.
-Forty crores. -Forty.
What was the pre-money on it?
Pre-money was 36.
-When did you raise that? -We started it in November,
and we closed it in March.
So, it just happened? Recently?
I have an offer for you.
I think 32 crores
and one crore in, is what I'd like to do.
No.
No. We will… of course,
-you know… -No. We'll not go down.
-We can't go for a down round. -It's impossible for us.
-Not at all. -We have to give value
to our investors, right?
Okay, I'm going to put two of us on the table to cut this short.
You can take one crore from me
at 36 crores, similar to what you did. Okay?
Or you can take 1.5 crores at 30 crores.
Down round will not… It doesn't work for us.
Why don't you think about it and tell me if any of those offers make sense?
Is this your final offer?
-Shall we make a call? -Can we discuss this?
-Sure. -Can we discuss…
This deal won't work.
They should be happy with either of the offers because
it's not…
It's a fairly decent offer that I've put on the table.
We are raising debt to save it.
They sell a lot of high margin categories which at a transit area, you can't…
I mean, it is going to be FMCG-dominated.
But if they crack the private labels…
But also, the ads.
I think.
This deal won't work, okay?
Will this deal work or not?
We won't go to a lower round.
You are smiling.
I hope you're going to make me smile as well.
Of course, we'll try to make you smile.
We won't go for a down round because
anti-dilution will come into play.
So, there's no sense.
-It doesn't make sense, right? -Fair.
For one crore, it makes no sense.
It is very easy to raise from the open market, right?
And it's not just about one crore, right?
We want your skin in the game.
It's only going to be fun if your skin is in the game.
I just want to clarify one thing.
As a fund, we do limited deals. Okay?
But no matter what we do, we have our skin in the game.
So, don't tell me that you want my skin in the game. Okay?
I don't make loose offers.
First, you call me a believer, then you say this.
-Okay? -No, it's true, but we…
I just want to table this for you.
-Okay? -Okay.
What's your offer, Gaurav?
We want you to invest at least two crores as a minimum, right?
At least, at a 43 crore rupees valuation.
Unfortunately, Gaurav, I can't do that.
Think it through, Gaurav.
You know what I will do?
In the real scheme of things, it is marginal.
And giving this respect to your investors,
what I can do is, I can make it 1.5 crore
at the same valuation, which is 36 pre-money.
I think it's a fair offer.
The place where we started and what you asked for,
you're getting that.
-Like, it will add on… -There's no down round.
There's an add-on, so she is happy.
And the three of us are also happy.
You're also getting more money.
Shall we? Okay, we have a deal.
-Done? -Okay, fantastic.
Very good!
-Good job, guys. -Thank you so much.
We're happy to have you on our cap table.
Yes, brother!
All right, guys! It's finally done.
How is everyone feeling about the journey so far?
I just loved
seeing all the founders' journeys in the show.
-Yeah. -I can't believe it's all over.
Let's go, Brother.
This is the part where we have to say goodbye to the whole thing.
I think this show has been special not only for all of us
but also for the viewers
because this is the first show that provides insight into
what a founder is and the difficulties.
The ups and downs of a founder's journey.
We came here empty-handed and…
We are leaving with our pockets full.
Just from the outside, it's a new India.
-Yeah. -I feel like
it smells of a new kind of attitude.
-Yeah. -We are doing something
nothing short of a miracle, and we can also learn.
We've gained a lot of experience. And it's life-changing.
The whole world will finally see
what we came here to show.
In Mission Start Ab,
all the founding teams that took part…
All of them have left an impression on me
-and I think on all of us. -On all of us. Yeah.
And I think the impression they've created
will inspire millions of prospective founders as well.
Absolutely. I think on that note,
-a salute to Bharat, to India. -Absolutely true!
To the start-up spirit.
Yeah. Cheers to that.
Our confidence will be boosted after this show.
-A lot! To everyone like us. -Because…
-They will get a confidence boost. -Yes.
We've understood that it's not the end. It's the beginning.
We've returned as the top performers of Mission Start AB and with funding.
Congratulations!
-We won! -Just as we said we would.
Hello, everyone!
We won the show!
This is our purpose. This isn't just a company.
It's not about a start-up, it's about a dream.
It's about passion. t-up, it's about a dream.