Green Entertainment has raised the bar with the debut of Shark Tank Pakistan, making its mark in the world of reality television. Renowned for its creative approach, the network is leveraging this platform to ignite the entrepreneurial ambitions of Pakistan’s emerging innovators, offering them a stage to present their groundbreaking ideas and distinctive business concepts.
Catch all the creative pitches from Episode 5 of Shark Tank, ranging from innovative travel tech to unique products, as visionary entrepreneurs take the stage to reshape Pakistan’s business landscape with their groundbreaking ideas.
Pitch 1
The first pitch of Shark Tank Pakistan Episode 5 featured Manahil Moghul and Mavra Moghul, co-founders of Baked Spot, a cloud kitchen specializing in delivering quality baked goods. Seeking to scale their operations, they asked for PKR 20 lakhs in exchange for 10% equity. The sisters launched the venture in November 2023 with an initial capital of PKR 30,000, driven by the affordability and growing trend of cloud kitchens compared to traditional bakeries.
In just nine months, Baked Spot has achieved remarkable growth, generating PKR 3 million in sales, with a profit of PKR 1.2 million. Despite their success, the co-founders acknowledged the need for better marketing strategies and equipment upgrades to professionalize their operations. They revealed that approximately 60% of their expenses are tied to packaging and manufacturing, as they handle much of the process manually to minimize costs. They plan to allocate 50% of the investment toward marketing and the remainder toward operational upgrades.
During their pitch, they emphasized their hands-on approach and reinvestment strategy, which has allowed the business to grow sustainably. However, they recognized that external funding is crucial to elevate their brand and compete in the market.
The sharks, impressed by their dedication and achievements, offered valuable insights to enhance their business strategy. Ultimately, the co-founders secured a deal with Aleena Nadeem and Faisal Aftab, who offered PKR 30 lakhs for 15% equity. This investment marked a turning point for Bakespot, enabling them to focus on marketing and professional operations as they continue their journey to redefine the baked goods market in Pakistan.
Pitch 2
The second pitch on episode 5 of Shark Tank came from Dawood Ahmed and Abdul Wahab, co-founders of Elixes Bikes, pitched their innovative electric motorcycle startup, requesting PKR 20 million in exchange for 15% equity. Dawood holds 70% of the company’s shares, while Abdul Wahab owns the remaining 30%, reflecting their distinct contributions to the venture. They detailed their journey, beginning with Dawood’s university days, where he converted his cycle into an electric bike to save costs. This personal experiment gradually evolved into a business, with both founders leveraging Abdul Wahab’s 35-year family expertise in motorcycle parts and his experience in energy ventures and fundraising, including grants from Silicon Valley.
The entrepreneurs emphasized how Lexus Bikes aims to solve key pain points in the EV market, such as limited range, slow charging times, low speeds, and inadequate load capacities, which they identified through extensive research and R&D. Their flagship model boasts impressive features, including a 200 km range per charge, 4-hour charging time, a top speed of 80 km/h, and the ability to bear 250 kg of load. They have already field-tested prototypes with ride-hailing companies like Yango and BikeWay, gaining valuable insights and Letters of Intent (LOIs) to support their vision.
The funding request aimed to establish an assembly plant, allowing for local manufacturing and cost optimization. Despite their achievements, including raising PKR 4 million in equity-free grants from organizations like IPP USA and Youth for Climate Change, the sharks expressed concerns about their business model. The pricing of the bikes, at PKR 3 lakhs, was considered too high for their target audience of middle and lower-income families, even with installment options. Additionally, the sharks highlighted the growing competition in Pakistan’s EV market and questioned whether the proposed funding would suffice to overcome scalability challenges.
While the sharks commended their passion, innovation, and deep understanding of the market, they unanimously opted out of the deal. Concerns centered on a mismatch between pricing and target audience, competition from established players, and the feasibility of alternative approaches such as retrofitting existing motorcycles or adopting swappable battery systems. Despite leaving without a deal, the founders received constructive feedback to refine their strategy and were encouraged to continue their journey in the evolving EV sector.
Pitch 3
The third pitch on Shark Tank featured Zeeshan Shahid, Founder and CEO of Motto Vest, alongside Ehsan Tariq, Co-Founder and Chief Technology Officer. They introduced Motto Vest, an innovative safety manufacturing company focused on reducing motorbike fatalities. The highlight of their pitch was their IP-protected airbag jacket, designed to inflate in just 0.2 seconds during an accident, protecting seven vital areas of the body: the back, neck, shoulders, ribs, backbone, and abdomen.
Zeeshan’s motivation for the product came from a personal tragedy—the loss of a close friend in a motorbike accident. Together with Ehsan, an engineer with a mechanical background, Zeeshan set out to create a life-saving solution for riders. The duo sought PKR 30 million in exchange for 15% equity to scale their business, enhance the technology, and expand their product range to include sensor-based features.
In their pitch, Zeeshan and Ehsan showcased their early success, having sold 60 units in the first three months, primarily to delivery businesses and adventure riders in northern Pakistan. They also secured a 600-unit order for a subscription-based model—businesses could rent airbag jackets for PKR 50 per day per rider. Their product had already saved a life during a pilot phase, and a major pizza chain even endorsed them publicly on LinkedIn.
Despite these achievements, the sharks expressed mixed reactions. They praised the innovative nature of the product but voiced concerns about the current market demand and the challenge of convincing people to wear helmets in Pakistan, let alone invest in a more expensive airbag jacket. They also raised questions about the scalability of the business, considering the price point of the jackets and the relatively low sales numbers at the moment. The sharks were wary of the heavy reliance on business contracts for growth and questioned the sustainability of such a model in the long run.
In terms of business numbers, the duo shared that they had received PKR 5 million in grants and won the Prime Minister’s Innovation Award and the Presidential Award, signaling strong recognition for their efforts. However, the sharks were cautious about the revenue potential and market penetration of the product, given the high cost and Pakistan’s habit of not prioritizing helmet usage.
Despite the doubts, Romana Dada saw the potential in their vision and made a counteroffer: PKR 30 million for 40% equity. She expressed that the higher equity was justified by the intense involvement and support the company would need to scale effectively, especially given the challenges around market adoption and business expansion.
After some deliberation, Zeeshan and Ehsan agreed to Romana’s offer of PKR 30 million for 40% equity, closing the deal. This partnership marked a significant step for Motto Vest as they moved forward with plans to make their life-saving product more accessible and impactful in Pakistan and beyond. The sharks wished the duo well, acknowledging the importance of their mission despite the obstacles ahead.
Pitch 4
In Shark Tank Pakistan Episode 5, Saad Saeed Khan, Managing Director and Co-Founder of Truly Komal Cosmetics, along with Amjad Sabir, GM Finance, pitched their business, Truly Komal Cosmetics. The brand, founded with Komal Rizvi as a partner (though she was not present during the pitch), caters to Pakistan’s growing beauty market, particularly targeting the female population. With a strong e-commerce presence, Truly Komal has garnered 300,000 followers on their platform, in addition to Komal Rizvi’s 4 million followers. Their product offerings include skincare and haircare lines, and they are also present in the salon industry, supplying 20% of their portfolio to salon professionals.
Saad outlined the company’s growth trajectory, sharing that their first-year sales were PKR 26 million, and in the last year, they achieved PKR 140 million in sales. The company’s EBITDA was PKR 22.2 million, with strong month-on-month growth, showing sales of PKR 10.3 million, PKR 13.1 million, and a projected PKR 14 million for the current month. The company has an impressive profit margin of 15-19%, with 60% of revenue coming from skincare products and 40% from haircare. The breakdown of revenue by channel includes 40% from trade, 30% from e-commerce, and 30% from salons and export sales.
Despite the strong business model and impressive growth, the sharks raised concerns about the scalability of Truly Komal Cosmetics, especially in a competitive beauty market like Pakistan. They also expressed reservations regarding the company’s high equity ask and margins, questioning whether the business could sustain long-term profitability, especially with the challenges of scaling in a price-sensitive market.
Junaid Iqbal offered PKR 3.5 crore for 15% equity and 15% royalty on the top-line revenue until the amount was recouped. Saad and Amjad countered with a proposal of PKR 3 crore for 5% equity with 12% royalty, but the sharks were not convinced by the terms. Romana Dada also extended an offer of PKR 3.5 crore for 30% equity, but the founders rejected both offers. They stated that giving away 30% equity would significantly dilute their ownership, especially with their plans for future growth.
Despite the sharks’ interest in the brand’s potential, the deal did not go through. The founders decided not to accept the sharks’ terms, as they felt that the offers would compromise the company’s control and long-term vision. The pitch ended without a deal, but the entrepreneurs were given valuable feedback and best wishes from the sharks as they continue their efforts to grow Truly Komal Cosmetics.
Pitch 5
Aurangzeb, the founder of Porter Pakistan, shared the journey of his startup, which began after a trip to Rakaposhi Base Camp in 2016 with his friend Junaid. They struggled without a proper tour guide, which highlighted the need for a digital trip planning platform that could help travelers in Pakistan. This experience led to the idea of creating a platform to simplify the travel experience in Pakistan.
The shareholding split of Porter Pakistan is as follows: Aurangzeb owns 50% of the company, CTO Vakar holds 40%, and CFO Rida owns 10%. The leadership team’s strong ownership structure ensures aligned goals for the company’s growth.
In 2020, Porter Pakistan was born, with the vision of becoming a tech platform that connects tourists with verified services, such as hotels and local experiences, ensuring travelers have a reliable and authentic journey. The company started as an online travel agency (OTA), setting itself apart by physically verifying hotels across Pakistan and taking original photographs to guarantee the authenticity of the listings.
In 2023, Porter Pakistan introduced a groundbreaking feature called the “Trip Designer”, which curates personalized travel plans in just a few seconds. This feature allows users, even those with no prior knowledge of travel planning, to easily design their trips, giving Porter Pakistan a significant scalability advantage. As of the end of the year, the company had a projected net booking value of 48 million PKR, showcasing a strong presence in the market.
From a financial perspective, Porter Pakistan maintains a low cost of sale, which is under 4 lakhs, resulting in an impressive 94% margin. They are anticipating an EBITDA of 2.7 million PKR for the year, which represents roughly 5.8% of their net market value (NMV). With this strong financial performance, the company remains consistently positive about its EBITDA.
During the pitch, Aurangzeb was seeking an investment of 10 million PKR for 10% equity. Despite some initial skepticism about the future of tech-based travel platforms, Aurangzeb secured an offer from Romana Dada and Rabeel Warraich after negotiating the terms. They offered 25% equity with no royalty, which Aurangzeb accepted. This funding will primarily go toward expanding the team to support the growing demand and scaling the business further.
Aurangzeb highlighted that the company’s biggest strength lies in its team’s grit, the robust technology that powers the platform, and the leadership has confidence in the business. Combined with the backing from Romana Dada and Rabeel Warraich, these elements position Porter Pakistan for significant growth.
Due to the breakthrough in Shark Tank, the company is now ready to revolutionize the travel experience in Pakistan. With the support of Romana and Rabeel, Porter Pakistan plans to expand its reach, improve its tech infrastructure, and scale operations. The future looks bright as Porter Pakistan continues to grow, innovate, and expand its offerings, making travel easier and more accessible for everyone.
About Sharks AKA The Investors In Shark Tank
- Rabeel Warraich, a former Morgan Stanley analyst, founded Sarmayacar, Pakistan’s leading venture capital firm, and has invested in notable startups like Abhi, Bykea, and SimPaisa; he holds degrees from Oxford and MIT, and teaches Venture Capital & Finance at IBA in Karachi.
- Aleena Nadeem, an accomplished MIT graduate, began her career at McKinsey and Goldman Sachs before transitioning to Ventura Capital and playing a crucial role in exiting investments in Lyft; now as CEO of EduFi, she drives innovation in educational technology, leveraging her extensive experience in finance and global fintech.
- Junaid Iqbal, CEO of Salt Ventures, is a key investor in the MENAP region with a strong background in financial journalism and notable contributions to Careem’s expansion and Careem Pay development.
- Karim Teli, a distinguished 30-year-old entrepreneur and speaker, is the Managing Director of IGLOO, founder of World Radio FM Network, CEO of Big Shot Technologies & Teli Technologies, and Director of Orient Textile Mills, with degrees from Greenwich University and Boston University, and over 50 ventures to his name.
- Faisal Aftab, a distinguished Pakistani American entrepreneur, has significantly impacted Pakistan’s tech industry as the co-founder and Managing Partner of Zayn VC, with notable roles at Lakson Capital Venture, Oxon Partners LLC, Cloudstream Media, National Financial Media, MTV, and Deloitte, leading investments in startups like Haball and NayaPay.
- Romanna Dada is a distinguished entrepreneur and UK-trained barrister, featured multiple times by Forbes, with a career spanning investment banking at Morgan Stanley, Abu Dhabi Commercial Bank, QIB (UK), and Qatar Venture Capital. She transitioned to the fashion industry, founding the largest modest fashion marketplace, successfully exited in 2018. Currently, she leads a new entity within the Saudi Sovereign Wealth Fund, focusing on innovative ventures and strategic investments.
- Usman Bashir, CEO of Brake Time and Breaktime Corner Market (BTCM) LLC, is a visionary leader with over 15 years of experience, managing over 300 U.S. retail outlets, including gas stations, fast food chains, and vape shops, while also investing in hotels like Marriott, the electric vehicle industry, and retail food and beverage franchises.
