Priyanka Tiwari
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The most recent episode of Shark Tank India 4 showcased Trajectory, a new Delhi based startup which deals with products related to ergonomic comfort.
The company was started by ex-product developers Raghav Mahajan and Himanshu Verma, who first manufactured a sole sleeping bag. The company has expanded its product line ever since. The founders of the startup hoped to impress the sharks with their pitch and asked for an investment for the amount of INR 1 crore for a 2% equity stake in the company.
Immediately after Raghav and Himanshu Mohan finished their presentation, Shark Anupam Mittal raised questions regarding their reason to come on the show in the first place due to their product being the show’s highlight.
He has circled around in airports and knows what is sold. His curt response to them steered the conversation towards the rest of the questioning that was clearly more crucial.
“Ye kya leke aagaye ho? Itni commodities cheez hai har airport par, online, sab jagah milti hai. One is cheaper than the other. Toh iski dukaan kyu lagayi hai aapne?” was the question he asked with regards to his assertion which reasons him to challenge their differentiation.
As she always did, she tilted her head to the side and slightly shed tears while asking \"Why?\" When Raghav tried to protect their brand by saying that Trajectory is in over ten airports all over the country and that they also manufacture for other brands, does not sound convincing. He attempted to analogize with Red Bull to put their business model into context, yet the Sharks did not buy his analogy either. Anupam threw Anaya's reasoning out in the waste basket because it was unreasonable.
The Sharks then turned their attention to the backgrounds of the founders. As Raghav started to explain their journey, however, Anupam Mittal interrupted Raghav and asked him to get to the point. Namita Thapar questioned them on what differentiates them from their competitors, but Raghav’s humorous attempts did not land well. He was clearly evading important questions and the Sharks seemed to think the same. “Baatein mat ghumao yaar, sidhe directly jawab do,” said Anupam who was looking infuriated.
During the discussion, Ritesh Agarwal expressed his concern about the branding of the company saying that the logo of Trajectory is somewhat similar to Tesla. And the first to drop out was Aman Gupta who had the opinion that the firm does not have a brand, but rather just a product as a commodity. Raghav kept trying to philosophize during the meeting, and Aman told him that perhaps he should consider writing novels instead, which depicts an extremely sarcastic tone. Anupam who also looks infuriated states, “Arre bhai tum kavi ho ya businessman? Chhod do yaar ye sab baatein.”
Namita too appears to get angry for the same reasons as Anupam and states that Raghav does not seem to be addressing questions directly. She asserted, “We ask you A, you respond with B, When we ask you B, you give C, how do you think this gives investors confidence.” Both Namupa and Anupam seem to drop out.
This deals weren’t easy to get, yet the founders managed to daze the sharks with their financials. Feedback was also offered by Ritesh Agarwal who made his offer. On the other side, He also put up a deal but accompanied by a condition that Himanshu manages Raghav’s energy and stubbornness. Bansal’s Deal included 1 crore for 5 percent equity and 2 percent royalty till the investment is recovered.
After a lot of haggling Trajectory was able to get Ritesh Agarwal on board, 50 lakh in exchange for 3 percent of equity and 50 lakh in debt at an 8 mark interest.
Raghav and Himanshu excitedly put forward his thoughts, “We are elated to co-operate with Riteh Agarwal knowing the business will allow to scale and make comfort products more accessible all over India. The understanding he has of the business is magnificent for us.”
From a harsh pitch to severe attacks, trajectory got a strategic partner standing on their words, which depicts that strong financial statements and hard work do win the attention of investors.
