- Watch Pitch: youtube
Tipayi Shark Tank India Pitch:
Tipayi makes wooden balance bikes without pedals and breaks. The founder shared that there are several benefits to their bike designs. Firstly, kids start to learn how to balance from day one. Secondly, their bikes are adjustable, which can be modified with kids growing bodies, and they would not outgrow their bikes easily. Their designs are patented, and all their bikes are made in India.
Tipayi bikes are all weather resistant, made of premium materials & sustainable wood. The founder added that using their bikes, kids can enhance their core muscle skills, and motor skills and develop their confidence. The company delivers their bikes across India and has recently started exporting to the United States. Their life time sales are at 700 units. The founder sought an investment of ₹50 Lakhs in exchange of 10% equity in the company valuing the business at ₹5 Crores.
Tipayi’s Revenue & Financials during Shark Tank India:
Tipayi started their company in May 2019, and they started generating revenue in September 2020. The founder shared that they made revenue of ₹50,000 in their first financial year, which was FY19-20 followed by ₹3 Lakhs in FY20-21. In their last financial year, FY21-22, The company has made a revenue of ₹21 lakhs.
Tipayi has a lifetime revenue of ₹26.5 Lakhs. The company made a revenue of ₹50,000 Last month. The founder shared that the majority of their business comes from B2B. Their bikes are priced at ₹5,000 per bike. The founder added that all their sales are organic. A bike costs them ₹2,500 to produce excluding shipping which is an extra ₹200 per piece.
The company had a gross profit of 40% in B2C and 30% in B2B. After expenses, their net margins come to around 30% in B2C and 22% in B2B. So far, Their blended net margins are around 26%. As for competition, The founder shared that the balance bikes start around ₹2,500 in India.
Tipayi Shark Tank India Negotiations & Funding:
Namita went out due to not having confidence in the product. Anupam did not see a market in India for this business therefore, he also went out of negotiations. Vineeta went out, citing she doesn’t see the value in the product.
Peyush liked the product but added that the founder just didn’t do enough marketing. He offered to hook this product with their other successful investment, Ariro Toys, as he felt like they would be able to market this product better. Peyush offered ₹5 Lakhs for 10% of the company and the rest as debt at 12% interest. He asked Aman to join him as well because they are both investors in the other company as well which Aman accepted.
Prem countered that with ₹50 Lakhs for 15% of the company as he did not want to take on any debt. The sharks declined that offer. Peyush & Aman decided not to budge from their initial offer therefore Tipayi left Shark Tank India without an Investment.
Who is the founders of Tipayi?
Prem Kale founded Tipayi and he is from Pune. He dropped out of school after Grade 10 to pursue his passion.
How is Tipayi doing after Shark Tank India?
Our research in the Tipayi revealed that while the company did not get a deal on Shark Tank India, Its appearance on the show had a positive impact on the brand. That being said, though, it seems like the founders were not fully able to capitalize on the opportunity as the brand still has very little consumer-facing presence.
As of October of 2024, Tipayi is still in business. The company however is still not in contract with any of the major retailers. You can still check out their products through Amazon by clicking the button below!
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Here are other companies from Season 2 Episode 31.
Nirmalya
Update coming soon!