Green Entertainment has raised the bar with the launch of Shark Tank Pakistan, making a bold mark in reality television. Known for its creative content, the network is inspiring Pakistan’s emerging entrepreneurs by giving them a one-of-a-kind platform to present their innovative ideas and ambitious business plans.
Episode 11 of Shark Tank Pakistan was full of exciting pitches! From smart tech to cool products, entrepreneurs brought fresh ideas to change Pakistan’s business game.
Pitch No. 1
In Episode 11 of Shark Tank Pakistan, Dr. Shaista Khalid, the Founder and CEO of Fit Her, and Hanan Iqbal, the CTO, pitched their innovative women’s wellness platform. Seeking an investment of PKR 50 million in exchange for 8% equity, the founders presented Fit Her as a holistic solution addressing hormonal imbalances in women. With a focus on live workout sessions, customized diet plans, gynecological consultations, and psychological support, Fit Her promises accessible and budget-friendly wellness options.
The business was inspired by Dr. Shaista’s personal experience with her mother’s rare autoimmune disorder, emphasizing the need for convenient and effective health solutions. Launched in April 2022, Fither has shown impressive growth, generating revenues of PKR 45 million within two years. The founders highlighted their recent app launch, which has already attracted 1,000 subscribers and boasts a retention rate of 30-40%, projecting exponential growth in the coming years.
Junaid Iqbal offered PKR 50 million for 15% equity and a 10% royalty, later revising it to 20% equity and 10% royalty. Rabeel Warraich initially proposed 35% equity for the same amount and later reduced it to 25%. The founders countered with 12% equity, emphasizing their preference for equity-only deals and rejecting royalty terms. However, the sharks found the valuation misaligned with their expectations, and the final offer of 25% equity was declined. As a result, the deal was not finalized.
Pitch No. 2
Sadaf Mansoor and Noman Afzal introduced School Mentor, an innovative platform designed to streamline school operations. As former colleagues with extensive experience in the school franchise system, they identified the challenges faced by schools, including missed lesson plans, excessive paperwork, and lack of standardization. Their ask? An investment of PKR 2 crore for 5% equity to further develop their platform and expand their reach.
School Mentor is an all-in-one solution that integrates academics, HR, marketing, and accounts management for schools. It offers a user-friendly ERP system and mobile applications tailored for principals, teachers, and parents. The platform automates academics, monitors teacher performance, and provides real-time updates to parents. Targeting over 200,000 private schools in Pakistan, School Mentor aims to address the operational challenges of individual schools while maintaining affordability at PKR 20 per student per month.
During the pitch, Sharks Usman, Romanna, and Junaid opted out due to concerns over valuation and scalability. Rabeel initially offered PKR 2 crore for 40% equity with a 50% royalty on net profit. However, Aleena and Rabeel jointly countered with PKR 2 crore for 40% equity and a 5% royalty. The founders proposed 20% equity with a 5% royalty, but after negotiations, Aleena and Rabeel’s final offer of 36% equity and a 5% royalty was accepted, closing the deal.
Pitch No. 3
Faisal Shehzad and Musaddaq Inayat, co-founders of Fresh Box, an Islamabad-based agritech startup, presented their business on Shark Tank Pakistan. They sought an investment of 2 crore PKR in exchange for 2% equity, valuing their company at 100 crore PKR. Fresh Box aims to revolutionize Pakistan’s agriculture supply chain by connecting farmers directly with consumers, thereby eliminating middlemen and reducing food wastage.
Established in 2023, Fresh Box focuses on delivering fresh, chemical-free fruits and vegetables to consumers’ doorsteps. The startup leverages technology, including artificial intelligence and data analytics, to provide services such as supply and demand forecasting, price prediction, and harvest forecasting. Their mission is to empower farmers with data-driven insights and educational resources, enhancing productivity and profitability while promoting sustainable agricultural practices.
During the pitch, the sharks expressed concerns over the high valuation of 100 crore PKR, considering the company’s 15-month operational history and reported lifetime revenue of 5.2 crore PKR. They also highlighted the challenges within Pakistan’s agriculture sector, such as the dominance of middlemen and existing inefficiencies. Ultimately, due to these concerns, none of the sharks extended an offer, and Fresh Box did not secure a deal on the show.
Pitch No. 4
Hashir Aziz, the founder of ARCH, and Shiraz Ahmed, the operations manager, presented their innovative audio technology business. They sought an investment of PKR 1 crore in exchange for 6% equity. Their passion for creating high-quality audio products resonated throughout their pitch, highlighting their dedication to revolutionizing the tech landscape in Pakistan.
ARCH is a Pakistani brand that offers a range of audio products, including their flagship product, the Airbirds, which feature Open Wearable Stereo (OWS) technology. This technology allows users to be aware of their surroundings while enjoying high-quality sound, providing a unique and comfortable listening experience. The company has achieved impressive sales figures, selling PKR 6 crore worth of products in just 15 months and serving over 18,000 satisfied customers.
During the pitch, the sharks made several counteroffers, showing their interest in the potential of ARCH. Usman, Rabeel, and Romanna initially offered PKR 1 crore for 30% equity with a 5% royalty. The founders countered with PKR 1 crore for 10% equity. Rabeel then proposed a revised offer of PKR 1 crore for 22% equity with a 5% royalty. The final counteroffer from ARCH was for PKR 1 crore for 18% equity. Ultimately, Rabeel’s concluding offer of PKR 1 crore for 20% equity with a 5% royalty was accepted, resulting in a successful deal for ARCH.
Pitch No. 5
Sehrish Raza presented her business at Shark Tank Pakistan, Biz B, a platform dedicated to empowering women by facilitating the sale of second-hand fashion. The platform allows any girl to register as a seller and list products free of cost, charging a 20% commission on each transaction. With over 20,000 women empowered through Biz B, the business has gained traction in promoting sustainable fashion. Sehrish sought an investment of PKR 1 crore in exchange for 1.4% equity.
Biz B, established in 2020, aims to redefine thrift shopping in Pakistan by promoting sustainability and providing women with a means to earn through second-hand fashion sales. The platform has already generated significant revenue, projecting a GMV of PKR 14 crore by the end of the year, with a gross margin of 20%. They also introduced new revenue streams to assist sellers with product listings, demonstrating their adaptability to market needs. Sehrish emphasized that Biz B is more than just a business; it is a movement aimed at changing perceptions around second-hand fashion.
Throughout the pitch, all the sharks expressed concerns over the high valuation of the company, considering it unsustainable given the projected revenue and margins. Rabeel, Romanna, and the other sharks stepped out one after another, ultimately resulting in no deal being made. Although the sharks admired the mission and concept behind Biz B, they felt the valuation did not align with the business’s current financial standing.
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.
