The founders valued their company at Rs 10 crore and requested an investment of Rs 50 lakh in exchange for 5% equity. They informed the “sharks” that Nithin Kamath of Zerodha had helped them fund Rs 40 lakh. By creating inclusive and sustainable dolls, they hope to empower 20,000 rural women, they stated. However, their figures weren’t promising. According to them, they anticipate sales of over Rs 1.5 crore this year, marking the first time in their four years in business that they had surpassed the Rs 1 crore milestone.
Additionally, they acknowledged that two of their primary USPs—dark-skinned and male dolls—are not appealing to their clientele. They added that they haven’t spent any money on marketing or their website, and they haven’t left much of an impression on internet platforms. According to Namita Thapar, they ought to think about employing storytelling as a marketing tactic, although the results of this approach might not be seen for a very long time. Simply put, the size is too tiny and the amount you’re requesting is too expensive for this to be an investable firm.
It’s too early for me as an investor,” she informed them. Ritesh Agarwal concurred, and Aman Gupta informed them that he would also have to withdraw since he did not believe this to be a business. “I can’t invest and profit from this business as a’shark,’ but you can get grants from foundations,” he remarked.
They’re “doing too much,” Vineeta Singh warned them. “It’s challenging to balance sustainability, inclusivity, and women’s empowerment,” she added. “If you can’t scale this online due to the dolls’ appearance, you might not be able to give 20,000 women jobs.” You may need to pick your battles. In contrast, Kunal Bahl stated that while he is prepared to help the founders and finds their narrative inspiring, he is unable to make an investment. The founders left with nothing.