Image Credits: Shark Tank India
Last updated on 07 February 2023. Find out about Watchout Wearables’ pitch on Shark Tank India, its founder, and the latest updates about the company!
Watchout Wearables on Shark Tank India
The startup was founded in 2021 with the watch being launched the next year. The pitch was part of 2nd episode of 2nd season.
Here are the key details about the pitch of Watchout on Shark Tank India:
| Business Name | Watchout Wearables |
| Founder | Abhisek Baheti |
| Episode no. | Season 02 Episode 02 |
| Ask | ₹2 Crores for 5% Equity |
| Accepted Offer | ₹1 Crore for 10% Equity + Debt |
| Sharks | Anupam Mittal, Vineeta Singh |
| Current Status | In-business |
Watchout Wearables is a kid-friendly smartwatch company. They are made for parents who want a safety device for their children. It has a GPS tracker, SIM Card, Camera, and SOS functionality. The straps are also soft and comfortable. All Made in India!
The watches are available on all big marketplaces. Here is one of the coolest designs on Amazon (*Affiliate Link):
Or buy it by clicking here: https://amzn.to/3GmB9AN
*Affiliate Link means that we get a certain percentage from the sale when you purchase through our link.
The founder asked ₹2 crores for a 5% stake in the startup. The money is needed for expansion in manufacturing and building a new watch for the elderly.
The pitch started with his nephew Divyajeet explaining the need o the watch. It has 3 major use cases: Safety, Connectivity, and Curiosity. A big USP is that it has an in-built SIM tray for offline calling. There are also many other customizations available.
Here is the full pitch:
However, most sharks were shocked by the high price point, limiting the market size for distribution. This made Aman, Namita, and Peyush go out. All advised reducing the cost.
Now only Anupam and Vineeta are left who made an aggressive offer with partial equity and debt. The entrepreneur tried to negotiate but he eventually accepted it.
Watchout Wearables closed the deal for ₹1 Crore for a 10% stake with ₹1 Crore loan for 15% interest with Anupam Mittal and Vineeta Singh.
About the Founder
Abhisek Baheti is the sole Founder of Watchout Wearables. His startup is based in Mumbai, Maharashtra.
He studied Chemical Engineering and then did his MBA in Marketing from Symbiosis Centre For Management and Human Resource Development. After that, he has 4 years of experience in Pidilite Industries.
The idea came after a tragic incident happened in his family. He started working on Watchout in 2018 when he was just making designer watches. But then he shifted to wearables for kids and it took him 4 years to unveil the first smartwatch in the market.
After Shark Tank Updates
It was confirmed by the founder that the deal is successfully completed with both sharks.
However, some people online accused it to be a copied Aliexpress product that is just drop-shipped to India. But then Abhisek clarified that he has the patent and he is doing white-labeling for design in other countries as well.
By the way, other businesses featured in this episode were Very Much India and SoupX.
Let’s take a look at their official product pitch: “Watchout is a technology-driven company that believes that high-end technology along with elegant looks can give gadgets a new dimension. We aim to deliver unique products at a reasonable price to fulfill our vision of Technology In Every Hand.”
Takeaways
So now you know about the pitch of Watchout Wearables pitch on Shark Tank and its latest updates. We are looking forward to them making a big impact in the space!
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also a fan of Shark Tank India.