Entrepreneurs Prateek Kedia and Shreya Bansal pitched their Yoga Accessories with the Brand Name Wise Life during Shark Tank India Season 3. Customized Yoga Mats are made by Prateek Kedia and Shreya Bansal. Will the sharks love this company with a founder passion? Find out in our Yoga Accessories Product update.
If you’re short on time, here’s a quick overview of what happened to Yoga Accessories Product Update after Shark Tank India!
Prateek Kedia and Shreya Bansal appeared on Shark Tank India Season 3 and made a deal with four sharks for ₹ 1.2 Cr for 3% Equity. In terms of a Customized Yoga Accessories Product update, the company is still in business and has grown to over 4 Cr. in lifetime sales.
| Company | Wise Life |
| Founder | Prateek Kedia and Shreya Bansal |
| Founded | 2020 |
| Product | Yoga Mat and Accessories |
| Ask | 60 Lakhs for 2% Equity |
| Deal | 1.2 Cr for 4% Equity |
| Sharks | Aman Gupta, Anupam Mittal, Namita Thapar, Ritesh Agarwal |
Wise Life Yoga Accessories Product Update
Exploring the Intriguing Journey of Wise Life Founders on Shark Tank India Season 3
Prateek Kedia and Shreya Bansal explained the vision of Wise Life for the Indian Yoga Mats market of 2500 Crore and raised funds for expanding the business of Yoga Accessories best quality is one-time unrolling with superior grip extra cushioning.
- Indian wellness industry market: Rs. 70000 Cr.
- Yoga Accessories Mats: Rs. 2500-3000 Cr.
About Wise Life
- Fy 20-21; 12.5 Laksh in 6 Months
- Fy 21-22: 1.2 Cr.
- Fy 22-23: 4 Cr.
- Fy 23-24: 4.3 Cr. (in 7 Months)
- Projected Revenue in 23-24: 12 Cr.
- Last Month Gross Revenue: 1 Cr
- Last Month’s Net Revenue; 80 Laksh
- Net Profits: 3%
- COGS: 30%
- Avg Order Value of Product: 734
- Product Start From Rs. 1000
Expanses & Taxes Data
- Del: 15%
- Marketing: 26%
- Amazon Commission: 19%
- EBITA; 5%
- Salaries & Off Exp: 5%
- Pat: 3%
- Impression share on Amazon: 30%
Why are Judges from the Colors Infinity Business Show Pitching on Shark Tank?
- Product Yoga Mat Designs: 40+
- USP: In-House Designing and Printing of Yoga Mats
- Product Design Method: Depend on 100+ Customer Surveys Conducted
Who are the Wise Life Founders?
Prateek Kedia and Shreya Bansal are the Wise Life Founders
The Impact on Entrepreneurial Perspectives
If Entrepreneur startup a good and healthy vision, then sharks appreciates regards to owner and give investment to business.
Wise Life Shark Tank India Pitch Recap
- Aman and Namita offer: 60lakhs for 3% equity + 2% royalty until 60 lakhs are recouped at a valuation of 20 crores
- Anupam offer: 90 lakhs for 4 % equity at a valuation of 22.5 crores
- Aman and Namita’s revised offer: 60 laksh for 2 % equity at val 30 cr
- Anupam revised offer: 90 laksh for 3% equity at val 30 cr
- Ritesh offers 1: 90 lakhs for 3% eq at val 30 cr
- Ritesh offers 2: 60 lakhs for 2% eq val 30 cr
- Amit’s suggestion: utilize technology to build and grow a community of yoga aficionados
- Amit offer: 60 lakhs for 2% eq + 2% royalty until 60 lakhs are recouped at Val 30 cr
- New offer Aman, Anupam, Namita, and Ritesh offer 1.2 cr for 4% eq val 30 cr
- Prateek Kedia and Shreya Bansal Said: All sharks but not accepted
- But Opposed Aman Gupta and said to take a decision
- Lastly, Prateek Kedia and Shreya Bansal made a Deal By accepting 1.2 crores for 4% eq val 30 cr
‘Wise Life’ is a ready-to-wear Yoga Accessory that provides the Best Yoga Mats. The brand offers more than 200 options for Yoga Accessories that can be customized too. The pitcher asks for 60 lakhs for 2% equity. Will the sharks show interest in investing?
| Shark Tank India | Season 03 Product |
| Episode | 29 Pitch 85 |
| Product | Yoga Accessories |
| Brand | Wise Life |
| Original Ask | ₹ 60 Lakhs for 2% Equity at Valuation 30 Crores |
| Deal | ₹ 1.2 Cr. for 4% Equity |
| Shark | Aman, Anupam, Namita, and Ritesh |
Yoga Accessories Product Deal
| Amit | No Deal |
| Ritesh | Deal Jointly |
| Anupam Mittal | Deal Jointly |
| Namita | Deal Jointly |
| Amit Jain | Deal Jointly 1.2 Cr. for 4% Equity |
