New Delhi, March 6 (IANS): The campus special episode of ‘Shark Tank India 3’ witnessed the 21-year-old studentpreneurs and their brand ‘Rize’, which is the go-to solution for wellness needs.
The founders of ‘Rize’ -- Sahil Manral and Dhruv Verma, strive to promote a healthier and happier lifestyle.
The brand offers a range of problem-solving treats crafted with premium ingredients.
The journey of Rize began in 2023 when Sahil and Dhruv conceived the idea in March and started experimenting in the kitchen in April.
Starting small by making bars every weekend, Rize expanded its product range to include bites.
The products are -- energy bars, bliss bites, and dream bites.
Although in the pre-revenue stage, the brand has garnered attention, leading to partnerships and support from actress Sunny Leone and her husband Daniel Weber.
While initial funding came from their parents, they received a significant boost with an investment of Rs 30 lakh from Daniel and Sunny.
In the show, they asked for Rs 45 lakh for 6 per cent equity.
Talking about the same, Dhruv said: “Sir, we want to be a health and wellness brand catering to individuals who regularly visit the gym. Our bars offer guilt-free indulgence for those seeking a healthier alternative, and savour chocolates and oats. If anyone is facing sleep issues...To purchase melatonin from a pharmacy, a prescription is required. But we have filled that gap. Because our product is FSSAl-approved. Those who need melatonin can have it without a prescription.”
He said that their target customers are -- individuals with sleep problems, women experiencing menstrual pain, tourists and travellers, active professionals.
"Whether it is kickstarting your day with Rize Energy Bars packed with nutrients like prebiotics, minerals, fibre, and protein, enjoying a restful night’s sleep with Rize Dream Bites, containing melatonin powder, valerian extracts, and chamomile extracts, or finding relief from menstrual pain with Rize Bliss Bites, formulated with special herbs, vitamins, potassium, and magnesium, Rize aims to inspire positive lifestyle changes."
Despite their promising trajectory, the Sharks ultimately passed on the brand, with Namita Thapar citing concerns about their valuation of Rs 45 lakh for 6 per cent equity.
Aman Gupta (Co-Founder and CMO of boAt) said: “I started my first business when I was around 21, and it shut down. But it taught me a lot of things. I think you will learn a lot of things. This business won't thrive. You are still not fit for the market. That's my view. This business will teach you. You will become a player in your industry or another industry. So, as an investor... I cannot invest now.”
“But I am also in Gurugram. I can give you some time. Meet me. Join entrepreneurship workshops. Gain more knowledge. Learn from others. Study their strategies. Understand their actions. So that you can improve your business skills. I don't think I can feel that now. So, I am out,” added Aman.
Speaking about his experience on ‘Shark Tank India’, Sahil said, "Appearing on Shark Tank India for the Campus Special episode was an exhilarating rollercoaster of emotions for Dhruv and me. It marked the culmination of our journey from conception to national television.”
“As we pitched Rize in the tank, we poured our hearts out, sharing our deep-seated passion for wellness and our vision for the brand. This experience reaffirmed our commitment to Rize's mission of promoting wellness and inspiring positive lifestyle changes. It's not just about the end result; it's about the journey, the growth, and the lasting impact we aspire to create in the realm of wellness,” he added.
‘Shark Tank India 3’ airs on Sony LIV.