- Founder: Romeo P Jerard & Sreeshankar S Nair
- Business: Livestock health monitoring AI
- Ask: ₹50 lakhs for 5% equity
- Valuation/Net worth: ₹10 Crores
- Funding: ₹60 lakhs for 10% equity
- Sharks: Ashneer Grover, Namita Thapar, Aman Gupta, and Peyush Bansal
- Episode: Season 1 Episode 19
WeStock/Brainwired Shark Tank India Pitch:
WeSTOCK, created by Brainwired, an Indian agritech startup, offers a groundbreaking livestock health monitoring and tracking system that employs IoT ear tags and a unique ML algorithm to identify sick and pregnant livestock, delivering timely alerts to farmers. Shark Tank India featured this product in Season 1 Episode 19, where the Brainwired founders requested 50 lakhs rupees for a 5% equity stake in their company. They also connect doctors with the farmers to advise farmers on their livestock’s health and wellness. Their product is completely Made In India.
They have an ear tag, and another device called Base, which collects data and pushes it to the cloud, which then processes the information and pushes it to the farmer’s mobile phone. They have 9 members on their team at the time of the pitch. The company raised their first round of investment at a ₹2.5 Crore valuation, where they raised 27 lakhs in 2020. They raised another round recently at a ₹5.5 Crore valuation, where they raised ₹50 Lakh. They have partnered with Tech Mahindra, Godrej, and the government of Maharashtra after their second round, which the founders believe explains the ₹10 Crore current valuation. They also received a grant from the Government of India for ₹25 lakh.
They just started generating revenue last month, where they made ₹17 Lakh. However, they have a pipeline to tag 4000 cattle, which would generate ₹54 Lakh monthly and ₹6.7 Lakh thereafter. One tag costs ₹1200 to manufacture, and The Base costs about ₹3000. They are getting orders from Australia and the African continent as well.
WeSTOCK/ Brainwired Shark Tank Negotiations:
Anupam goes out of this deal because he has already invested in a Cattle technology company, which he adds is India’s biggest player at the time. Peyush wanted to give the offer as he thought there was an AI and Tech Play. Ashneer, Aman, and Namita give their offer of ₹50 Lakh for 9%.
Peyush gives the same offer solo, but he adds that he is happy to join the other sharks in that deal if that’s what the entrepreneurs want. Peyush got some criticism from other sharks for giving 2 offers. The company takes a moment to think and comes back to counter everyone for ₹75 Lakh for 10%. Sharks counter at ₹60 Lakh for 10%, which the company accepts!
How is WeSTOCK/Brainwired doing after Shark Tank India?
Our research into the company revealed that the deal they closed on Shark Tank India did go through. The company did a public funding round right after Shark Tank using the Tyke deal platform. The company’s founder shared in a Podcast Banter with Cheytan that they were aware of the format because they watched international versions of the show. He added that they were mainly there for marketing and expertise on the show. The founder shared that after the show, they got over 1.5 Lakh visitors on their website right after the show and over 2000 product inquiries. He shared that effects are still visible even after a year of the show.
The founder also shared that the support form sharks has been tremendous and they have already had sessions with Namita and Peyush. They appreciate the contacts all sharks have provided which is helping them expand globally. They have also done a session with Aman Gupta but haven’t had any contact with Ashneer yet.
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Source: Brainwired Instagram
Here are other companies from Season 1 Episode 19.
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