Arista Vault Update | Shark Tank India Season 03
In the 25th episode of Shark Tank India, Arista Vault founders appeared with an ask of ₹45 lakh in exchange for 1.5% equity.
Arista Vault is a startup that has a vision to become the leader of smart luggage accessories. India’s smart luggage market size is going to be around ₹1000 crores in the upcoming five years, and Arista Vault is aiming to capture that.
Anupam Mittal found an investment opportunity and offered ₹20 lakh for 1% equity and ₹25 lakh debt at 18% interest for two years. But was this agreement actually happened off the camera?
In this article, I’ll provide all updates about what happened to Arista Vault after the Shark Tank and the company’s net worth.
| Company Name | Arista Vault |
|---|---|
| Founders | Purvi Roy, Atul Gupta, Krishan Kumar Singh. |
| Founded | 2018 |
| Product | Smart vault and suitcase |
| Ask | ₹45 lakh for 1.5% equity |
| Deal | ₹20 lakh for 1% equity + ₹25 lakh debt at 18% interest for 2 years |
| Sharks | Anupam Mittal |
Arista Vault Shark Tank India Updates
Purvi Roy and Atul Gupta appeared in Shark Tank India, seeking ₹45 lakh for 1.5% equity in their company.
While Aman, Varun, Vineeta, and Radhika opted out, Anupam found this business investible. He offered ₹15 lakh for 1% equity and ₹30 lakh debt at 18% interest for two years.
The founders countered ₹20 lakh for 1% equity and ₹25 lakh debt at 18% interest for two years tenure. Anupam agreed to this offer, and Arisa Vault got a deal in the Shark Tank.
As of March 2024, this agreement was not confirmed between Anupam and Arista Vault founders because Dubai’s deal hasn’t been confirmed yet. However, their appearance on Shark Tank gave them huge exposure among the show’s audience.
Arista Vault’s website traffic increased exponentially, and the company saw a great boost in sales. The company’s net revenue spiked over ₹10 crores after the airing of the episode, and the founders are working hard to grow the company further.
Our team followed up with the founders, and we’ll come up with more details in our next Arista Vault updates.
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about Arista Vault
Arista Vault is India’s first smart luggage manufacturing company, founded by Atul Gupta, Purvi Roy, and Krishan Kumar Singh.
The company’s most innovative product is the Follow Me Suitcases, which can also be used as a cart.
The company also makes smart wallets that connect with an app and are capable of finding the wallet with just one tap.
Arista Vault has sold its products to about 35,000 customers. The company’s vision is to provide a hassle-free experience to its customers at an affordable price.
Arista Vault Shark Tank India Pitch Recap
Arista Vault founders pitched in Shark Tank India S03E25, seeking ₹45 lakhs investment for 1.5% equity at a valuation of ₹30 crores.
The founder said that they are already supported by the Ministry of Electronics and Information Technology which has provided advanced lab facilities for R&D.
The company has already raised ₹2.3 crores at a valuation of ₹20 crores. The founder then went on to demonstrate the ‘Follow Me Suitcase.’
The innovative suitcase comes with a Ride Mode, where a user can ride the suitcase at a maximum speed of 7 km/h, and it can carry up to 120 kg.
Anupam: This is a good way to move ahead in line. Just start riding it, and people will move out of your way.
Founder: Yes, Sir. And, you can even charge your mobile using it.
The sharks then went on to ride the suitcase. They really liked the experience and its durability. Aman and Anupam even crashed their suitcases to test their strength.
Anupam: Can you explain your technology? How is it different and unique from others?
The founder then explains the features of their Smart Wallet. It has some state-of-the-art features like a misplace alarm, location tracking, and even a remote selfie button, which can capture a selfie remotely.
Radhika: What is the pricing of your Smart Luggage when compared to other traditional luggage products?
Founder: Our Smart Luggage products range from about ₹1,500 to ₹15,000. But, our Ride-On Luggage currently costs ₹50,000, which will decrease to ₹15,000 in the near future.
Aman: ₹50,000 is too costly.
Radhika then asked a follow-up question about the market sizes of traditional vs smart luggage products.
Founder: India’s smart luggage market size will be around ₹1000 crore in the next five years.
The founders then explained that about 1 in every 4 travellers lose their luggage which is why smart luggage will be very handy to them. But sharks didn’t agree with these statistics.
Varun: Buddy, I run a travel insurance company. Even if your stats were true, then we would have gone bankrupt long ago.
The discussion went on to the revenue of the company. The founder revealed that their sales were about ₹3.6 crores last year, and they have about ₹5 crore orders pending. And they have a 20% profit margin.
Anupam: The technology of your products can easily be replicated by big fish. How will you compete with them?
Founder: We are trying to scale it using performance marketing and influencer marketing. Secondly, we are also targetting international markets which are more lucrative.
Vineeta and Aman then pointed out the branding flaws in their products. There are a lot of inconsistencies with fonts and styles, which degrades overall aesthetics.
Anupam: You guys do have the first-mover advantage, but you need to grow quickly; otherwise, others will jump in and take your place. This is risky and so I am out.
Vineeta: I am also out. You guys have made a lot of products at such an early phase, which can be tough to scale.
Varun: The other big companies will steal your features in the future. They already have a huge distribution established, so it will be hard for you guys to compete. That’s why I am out.
Radhika: You guys should focus on one product and then try to scale. I also can’t see your competitive advantage. I will be out for now.
Anupam: Your technology is not seamless. Many people will not be comfortable using such a technology. You guys should focus more on branding rather than technology.
But since you guys are already making a profit. I will offer you ₹15 lakhs for 1% equity and ₹30 lakhs debt at 18% interest for two years.
The founders then gave a counter deal, which is ₹20 lakhs for 1% equity and ₹25 lakhs debt, and Anupam agreed on this. But, he said that, this deal will only proceed when founders will confirm a deal from Dubai.
Arista Vault returned with a big smile and even bigger exposure from Shark Tank India.
Final Words
Many brands perished simply because they overkilled their technology but forgot brand building. Arista Vault was on the same track. But, now since they have got such an experienced Shark on board, they have a chance to fix the issues and scale their brand quickly.
