Kalakaram is a brand dedicated to children's DIY kits, offering a diverse range of educational kits designed to mould young individuals into more responsive, expressive, kind, informed, and confident beings. Their focus is on enhancing creativity and imagination through a variety of DIY kits suitable for kids aged 4 to 14, spanning from beginner-friendly activities to more advanced crafts. You can also enrol in the handicraft online course at Alippo.
Founded by Chaitanya Malhotra and Kamal Malhotra, Kalakaram gained sharks' praises through the pitch on Shark Tank India Season 3.
|Chaitanya Malhotra and Kamal Malhotra
|₹ 50 lakhs for 2.5% equity
|₹ 60 lakhs for 6% equity
|Peyush Bansal, Namita Thapar, and Anupam Mittal
All About the Pitch
During the pitch, Chaitanya highlighted the challenges children face due to increased tech device usage, emphasizing the need for creativity revival, which became the driving force behind Kalakaram's inception.
Over the past 1.5 years, Kalakaram has successfully expanded its presence, reaching over 350 retail stores, securing listings on major e-commerce platforms, and generating sales through its website. In the Shark Tank episode, Chaitanya sought INR 50 lakhs for 2.5% equity at a valuation of INR 20 crores.
The journey and inspiration behind Kalakaram were shared during interactions with the Sharks. Chaitanya's unique approach, stemming from his family's old wholesale business, caught the Sharks' attention. Demonstrating the DIY kits further impressed the panel, leading to multiple offers. Ultimately he accepted the final deal from Peyush Bansal, Namita Thapar, and Anupam Mittal. The deal amounted to INR 60 lakhs for 6% equity at a valuation of INR 10 crores.
Takeaways from the Pitch
From the founder's pitch on Shark Tank India, several key skills and lessons can be identified:
Entrepreneurial Vision: Chaitanya showcased a clear vision for Kalakaram, emphasizing the mission to revive creativity in children. A strong entrepreneurial vision helps investors understand the purpose and potential of the business.
Problem-Solving Skills: Identifying the problem of reduced creativity in children due to technology and proposing a solution through DIY kits demonstrates strong problem-solving skills. The ability to address a significant issue and provide a practical solution is attractive to investors.
Business Acumen: Chaitanya discussed about the expansion of Kalakaram into retail stores, and e-commerce platforms, and emphasized sales growth highlighting the founder's business acumen. Understanding market dynamics and having a strategy for business development is crucial.
Product Demonstration: Chaitanya demonstrated the DIY kits, showcasing the quality and variety of products. A tangible demonstration of the product helps investors visualize its potential and quality, contributing to a more convincing pitch.
Adaptability: The founder shared the transition from an old wholesale business, illustrating adaptability and a willingness to evolve. Being open to change and adapting business strategies can be crucial for long-term success.
Negotiation Skills: Engaging with the Sharks and negotiating the terms of the deal requires effective negotiation skills. Founder, Chaitanya successfully navigated discussions with multiple Sharks and secured a favourable deal.
Confidence: Confidence in presenting ideas and responding to questions is evident in the founder's pitch. Confidence can instil trust in investors and make the pitch more compelling.
Observing these skills in the founder's pitch provides valuable insights for aspiring entrepreneurs on how to effectively present their business ideas and navigate the challenging environment of securing investment on platforms like Shark Tank.