Watchout Wearables has Raised INR 2 crores from Shark Tank India season 2. Abhishek joins Shark Tank India and asks the sharks for 2 crores in exchange for 5% of the company. He described his product to Shark and how it works. At a valuation of INR 10 crore, Anupam Mittal and Vineeta Singh provided $1 million in 10% equity and INR 1 crore loan with 15% interest.
At a valuation of 20 crores, Abhisek countered with 1 crore for 5% equity and 1 crore in loan at 15% interest. No, Anupam replied. Abhishek made another counteroffer of one crore for 7.5% equity plus one crore in debt with 15% interest at a valuation of thirteen crores. In “Watchout Wearables,” Anupam Mittal and Vineeta Singh invested 1 crore (10% equity + 1 crore debt at 15% interest).
About Watchout Wearables
The co-founder and CEO of this smartwatch startup are Abhishek Baheti. He and Noopur Baheti founded it in 2021. Abhishek is a business marketing expert who has spent four years at Pidilite Industries Limited, holding a variety of responsibilities.
The Symbiosis Centre For Management and Human Resource Development is where he received his MBA in Marketing. The most recent model of children’s smartwatches is Watchout Wearables. It is a high-end security watch with many functions, including WiFi connectivity, a camera, GPS tracking, real-time communications, and video calls.
A cutting-edge company called Watchout Wearables offers children many special and safety features. Abhishek and Noopur Baheti started this Next Gen Smart Watch company in 2018 in Mumbai, Maharashtra.
The market for smartwatches in India is expected to expand and reach $124.80 million by 2027. Many smartwatch companies currently offer watches for sale at various pricing points.
This watch offers numerous safety features, including a camera, video call, nano sim card, wifi, GPS, and real-time texting. Parents can monitor their youngsters via the watch’s mobile application.
Many online retailers sell this watch, including Amazon, Firstcry, Myntra, Nykaa, Croma, and others. Priced at Rs. 11,999, this watch is available in 3 colours: purple, grey, and macaw blue.
This watch is available for sale for about 10,000. In the fiscal year 2021–2022, he made 1.1 crores in sales annually. 1.4 crore have been sold thus far in the fiscal year 2022–2023.
His sales in August 2022 totalled 25 lakhs. His sales in July 2022 totalled 5 lakhs. His EBITDA is 35%, representing earnings before interest, taxes, depreciation, and amortisation. His net margin is 25%. 30 lakhs are anticipated to be sold by September 2022, and 30 lakhs to 40 lakhs are anticipated to be sold by October 2022.
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Problem Solved by Watchout Wearables
This smartwatch is offered at the following offline retailers: Jio Mart, Croma, Firstcry, and Hamleys. This smartwatch is a different category and is designed for child safety. These smartwatches are constructed using cutting-edge technology and have advanced functionality. The price is quite reasonable in comparison to other brands.
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