Kyari is an adventure and wildlife smart stick brand started by a brother and sister duo named Smratika Sharma & Abhay Sharma, who pitched their company in the fourteenth episode of Season 2 of Shark Tank India. The Sharks loved the idea so much that all five of them expressed interest in investing in the brand. Two groups of Sharks also wrestled over the best possible offer they could give, leaving the founders with the option to choose the group they wanted to go ahead with.
In this piece, I will walk you through what exactly is kyari, the kyari Shark Tank Pitch, and share updates on what happened with Kyari after their Shark Tank Appearance.
What is Kyari?
Kyari is an adventure and wildlife safety gear brand. One of the biggest risks of going on adventures is that there is a lack of safety as one can be attacked by animals. When this happens, people usually use a wooden stick to secure themselves. However, the wooden stick might not always be enough to protect you. To solve this problem, Kyari has come up with a smart walking stick for those seeking adventures.
Kyari Shark Tank Pitch & Deal
After entering the Shark Tank room, the brother-sister duo explained why they decided to build a smart stick. At the time of the pitch, the product was being used by close to 2000 forest guards and had also saved many lives. One of the best things about Kyari is that it is proudly designed and made in India. Apart from forest departments, adventure enthusiasts also use Kyari.
The vision of the founders is to not only popularize the brand in India but also take it global. In order to do this, they sought to raise 51 lakhs for one percent equity.
When the founders gave a demo of the product to the Shark, they demonstrated the light in the smark stick comes with different modes that can be used as per the time of the day. The stick also comes with a loud alarm system and can also be used to give shocks to animals if required. These shocks do not injure the animal but make them run away. Apart from all this, the stick also comes with the capability to charge mobile phones.
When Namita asked about the size of the market, Smratika explained that the campaign equipment market is worth Rs 1,000 crore in India and the global market is worth Rs 110,000 crores globally.
When asked about the size of the business, Smratika shared they did 8 lakhs in sales in FY18-19, 30 lakhs in FY19-20, 1.2 crores in FY20-21, 1.4 crores in FY21-22, and 75 lakhs till date in FY22-23. The smart stick has a price range between Rs 10,000 to Rs 17,000, depending upon the version. Kyari has also made a net profit of 30% consistently. Kyari manufactures the sticks in their own manufacturing facility, following the lean manufacturing model.
After hearing all this, Namita and Amit together offer to give Kyari 51 lakh for a 10% stake. Peyush, Anupam, and Aman, all three together, give an offer of 51 lahks for a 12% stake.
However, Abhay politely refuses both offers, countering with a maximum of 2% for 51 lakhs. On hearing this, the Sharks got a little shocked with Aman saying he is out. Namita and Amit give a counteroffer of 51 lakhs for 8%. With Aman out, Peyush and Anupam also decide to give a counteroffer of 51 lakhs for 10%.
However, Abhay again reiterates that they can’t give more than 2% for 51 lakhs. Peyush countered with 51 lakhs for 5%. Hearing this offer, Namita and Amit offer 51 lakhs for 6%. Peyush and Anupam also offer the same and the founders decide to go ahead with Peyush and Anupam instead of Namita and Amit.
What Happened to Kyari after Shark Tank ( Kyari Fresh Shark Tank Update )
After the Kyari Shark Tank appearance, the additional brand awareness generated from the show must have most likely led to a sizaeble increase in sales. Many online news publications also covered the brand post appearance. Kyari also updated its website to reflect its Shark Tank appearance. At the time of writing, the company is in business. You can watch the Kyaru Shark Tank Pitch saga here.