Shark Tank India-3: Kashmiri Startup Founders Turn Skeptics into Believers with ‘Vegetable Market’ Pitch

In Shark Tank India-3, startups from all over the country are appearing. In the seventh episode of the third season, a startup came from Jammu and Kashmir, whose idea surprised all the sharks. The biggest surprise came when they saw that the founders of that startup were around 20 years old. Moreover, when these founders revealed their earnings, all the sharks were left astonished. Then, one after another, a fierce battle ensued among the sharks regarding investing in this startup. Vinitha Singh even called that atmosphere a vegetable market after witnessing all this.

In the third season of Shark Tank India, there is a startup named Tramboo Sports, which was initiated by 18-year-old Hamaad Tramboo and 20-year-old Saad Tramboo. Both founders are pursuing their BBAs. This startup manufactures cricket bats from Kashmir willow wood. It’s worth mentioning that Kashmir willow wood is only found in Kashmir and cannot be taken out of Kashmir like raw material. This startup manufactures bats for cricket and tennis players. Hamaad mentions that he plays cricket, so he understands that compared to English willow bats, Kashmir willow bats are slightly heavier, and this startup has solved this problem. The startup claims to have sold more than 20,000 bats so far.

To make Kashmir willow bats, the Kashmir willow wood is first cut. Then, the wood undergoes seasoning, which takes about 7 days. Typically, wood seasoning takes 1 to 18 months. However, this startup completes the seasoning process in just 7 days through its special seasoning plant, which is a steam-based plant. The plant maintains a temperature of 40-50 degrees Celsius, which helps the wood to dry quickly. Bats made using this method are better than bats made through traditional methods.

Once the bats are seasoned, they are taken to the manufacturing facility where they undergo hard pressing. This process enhances the bat’s stroke and strength. Then, Singapore cane handles are attached, which prevent all the shocks from reaching the player’s hands. There is only one seasoning plant in all of Kashmir, which belongs to the founder’s grandfather. The cost of setting up such a plant is around 8-9 crore rupees, and if land also needs to be purchased, the cost increases even more.

Unique Bat Pricing and Business Model of Tramboo Sports

Tramboo Sports, a startup, offers cricket bats made from Kashmir willow at affordable prices. According to the founders, the price range for tennis ball bats made from Kashmir willow starts from Rs. 1800, while seasonal bats begin at Rs. 3000. Additionally, English willow bats, albeit of Grade-4 quality, start from Rs. 6000-7000. For Grade-1 quality, prices can soar up to Rs. 40,000.

Remarkably, Tramboo Sports is the only startup producing Kashmir willow bats at such competitive rates. They sell around 1000 bats monthly, primarily through social media and their website. The company is soon expanding to online marketplaces. They boast a 70% order rate from Instagram alone.

Tramboo Sports earns approximately 25% profit on tennis bats and 35-40% on seasonal bats. With a net profit of around 5-6 lakhs monthly, they anticipate revenue figures to reach around 6-7 crores by 2023-24.

Setting Up a Veggie Market: Shark Tank for Investments

In their pursuit of funding for their startup, Hamaad and Saad sought a Rs. 30 lakh investment in exchange for 3% equity. Initially, Vineeta Singh offered them Rs. 30 lakh for 10% equity, later joined by Anupam Mittal. Aman Gupta proposed a Rs. 30 lakh investment for a 6% stake, while Ritesh Agrawal offered the same amount for a 4% equity share. However, Piyush Bansal changed the game entirely, offering the founders the Rs. 30 lakh they sought in exchange for 3% equity.

In the end, the startup founders secured investments from Aman Gupta and Piyush Bansal, providing them both with 4% equity (2% each) in exchange for the Rs. 30 lakh investment.