On the Shark Tank India episode of 2nd February 2022, we saw some technologically advanced gadgets that were worth investing and had identified a very massive problem in the industry.
Sports Performance Enhancing System
With a very brief presentation, the team consisting of Anant Sharma, Ayush Kushwaha, Shwetank Shrey and Aman Parnami gave us an insight into a very prevalent issue of sports coaching. The coached may guide them about their respective sport, but they might not understand the problem a particular player has. This problem is solved by the company Tweek Labs with efficient smart wearable gear that captures the players motion in 3D.
This gear analyses the movements of the player and displays it on the mobile app that will give insights on the performance of the player. They have 12 sensors in the gear which capture the motion of different limbs in the human body. They have mainly focused on cricket right now and made it for serious players who wish to play the sport as their career. The app shows all the parameters of the key performance index (KPI). The player can see their 3D projection once captured so that they can work on areas they lack to become a better sportsperson. They came to raise 40 lakhs at 2% equity. Peeyush Bansal offered 40 lakhs at 8% equity and Ashneer Grover offered the same while Anupam Mittal offered 40 lakhs at 7%.
They later came together to offer them 60 lakhs at 12%. The team counter offered 60 lakhs at 6%. After some negotiation the deal was closed at 60 lakhs at 10%.
The owners of Proxgy, Pulkit Ahuja and Inderjit Singh Makkar came to shark tank with their smart cap with advanced technology using IoT and software.
Their cap was equipped with a camera, mic and other features. They ensure privacy, discoverability and immersive experience. The product provides real time and live communication anywhere in the world. They asked for 35 lakhs for 1% equity. The cap could be used in warehouses and even in KYCs. They even have tap to scan features. Shark Peeyush Bansal and Ashneer Grover jointly offered 50 lakhs at 10% equity. They counter offered 50 lakhs at 2.5% equity.
The sharks, however wanted decent equity, so they proposed 1cr for 10% to which the participants agreed and the deal was made.