Namita Thapar refuses to invest in business that counts Nithin Kamath as a backer, tells Shark Tank India pitchers it’s ‘not investable’

Three points you will get to know in this article:

  • The Good Doll based in Tamil Nadu is a  Sustainable Substitute for Barbie and Other Plastic Toys 
  • Suhas Ramegowda and Sunita Suhas the founders asked for for an offer of ₹50 Lakhs for 5% equity
  • The sharks were not impressed & therefore the founders had to leave without a deal

The Good Doll on Shark Tank India season 4

Episode 21 of Shark Tank India Season 4 featured The Good Doll. Based in Tamil Nadu A Sustainable Substitute for Barbie and Other Plastic Toys is the Good Doll. Upcycled fabric is used in its creation. The Good Doll benefits the craftsman, the kid, and the environment. Conscious gifting, handcrafted by women, meaningful presents, environmentally friendly packaging, and thoughtful and minimalist gifting are some of its specialties.

Click here to visit their official website : The Good Doll

About the Founders of the Company

Sunita and Suhas relocated to the southern Tamil Nadu state in 2018 to live in the Nilgiris, also known as the blue mountains. They discovered that the rural and indigenous communities surrounding them suffered from precarious livelihoods as they began a life away from the metropolis and corporate organizations. The Indian Yards Foundation (Agai IY Foundation) was founded as a result of their attempts to find a long-term solution to this issue. This has since developed into a social entrepreneurship ecosystem that uses craft and business to empower these communities toward socioeconomic well-being. 

The craftspeople must have access to a trustworthy market resource for this ecosystem to become genuinely viable. One that might offer reliable orders and market intelligence. It leads back to the creation of commercial products. A tool that could help them reach a relevant clientele and return the most value to the craftspeople. The Good Doll (Macramedecor Craft Pvt Ltd) was born as a result.

One essential element of this enabling ecology is the Good Doll. the way in which the craftspeople can make a fair living. a crucial component in assisting ambitious artists in becoming business owners and earning more than a living.

The Good Doll Valuation, Funding, and Company Profile

Company  The Good Doll
Valuation  INR 10 Cr.
Founder Suhas Ramegowda & Sunita Suhas 
Headquarters  Ooty, Tamil Nadu

 

Founding Year  2021 
Industry Retail 
Profitability  Undisclosed
Got Investment  No

Namita Thapar refuses to invest in business that counts Nithin Kamath as a backer, tells Shark Tank India pitchers it’s ‘not investable’

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.

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