Shark Tank India Season 2 Episode 2 Watchout Wearables
| Company name | Watchout wearables |
| Founders | Abhishek Baheti |
| Ask | 2 crores for 5% equity |
Watchout Wearables Founders in shark tank s2 ep2
Abhishek Baheti is the founder of the company. He is a chemical engineer and gold medalist from Sardar Patel University then he did MBA and worked with Essar Steel and also worked with the Pedalite industry. He did MBA in sales and marketing from SCMHRD, Pune. Hence, it is a Made in India product which is priced to 10,000. Read below, and listen to the Shark Tank Season about wearbles.
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About Watchout Wearables Brand- shark tank season 2 review
- Abhishek Baheti’s vision is to offer a device to children that will keep them smart and safe as well.
- The watch has elevated edges so if it falls the screen will not get damaged.
- The straps of the watch are made of breathable soft silicon so that kids can wear it comfortably.
- An SOS button is there and if the child presses and holds the button for 3 seconds, then the parents will get a notification on the last location and a 30-second surrounding recording will also be sent.
- There is a 0.5-megapixel camera so that selfies and video calls can be done there. There is a SIM slot and a Nano SIM can be inserted into it.
- The back of the watch has an anti-take-off sensor.
- The watch design is copyrighted. In the next launch, there is a watch for senior citizens, but there is a slide difference in the safety features as it has an anti-fall alarm.
What was the offer by Watchout Wearables?
The founder made an ask of 2 crores for 5% equity in the company at a valuation of 40 crores at Shark Tank season.
Other information about the company- The selling price of each watch is 10000.
The estimated total addressable market is around 100 crores.
In FY 2021 to 2022 the sales were 1.1 crores. And in FY 2022 to 2023 years to date, the sales were 1.4 crores. In August sales were 25 lakhs and on July 22 the sales were 5 lakhs. EBITDA is 35%. Net margin is 25% the projected sales on September 22 are 30 lacs on October 22 the projected sales are 30 to 40 lacs. They make 500 units per month.
Offers and Counteroffers by Sharks in Shark tank 2 episode
Veenita and Anupam gave an offer of 1 crore for 10% equity at the valuation of 10 crores and one crore debt at a 15% interest rate.
Abhishek gave a counteroffer of 1 crore for 5% equity.
Abhishek again gave a counteroffer of 1 crore for 7.5% equity and 1 crore debt at a 15% interest rate. But know, at what measure did the deal got filled?
Final Deal- Watchout Wearables
The final deal closed with Anupam and Veenita at 1 crore for 10% equity and 1 crore debt at 15% interest rate.
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