WatchOut is a technology company that believes in the combination of sophisticated technology and attractive design in its products. Their mission is to make unique, advanced products accessible to all, with the goal of bringing technology to every individual.
Established in 2018, WatchOut is a leader in the field of consumer wearables, using artificial intelligence, robotics, gesture control, and the Internet of Things to create innovative and unparalleled products. The company is based in Mumbai and has a global outlook.
More About WatchOut Wearables
Founded by Abhisek Baheti, the company focuses on designing and developing smart watches for kids. The watches come with innovative safety features like an SOS button, 4g Video Calling, GPS Tracking, etc that allow parents to be worry-free. The brand has got multiple variants of the products and is also testing new features and also a few new products.
WatchOut Wearables Shark Tank Pitch and Updates
Abhisek Baheti, the founder of WatchOut Wearables, appeared on Season 2 Episode 2 of Shark Tank India seeking ₹2 crores in exchange for a 5% equity stake in their company. At the time, the brand was valued at ₹40 Crore by the founder.
The pitch started with Divyajeet Baheti, the founder’s nephew, who addressed the need for a smartwatch for kids. He shared quite a few points that impressed the judges and they wanted to understand more about the company. After that, Abhisek joined the stage and shared his journey of starting the brand WatchOut Wearables.
He shared about a fire incident that made him work on the idea of building a smartwatch with security features. Abhisek also shared that they are building a smart product for elderly people as well.
Here are further updates about WatchOut Wearables Shark Tank Episode:
|Company Name||WatchOut Wearables|
|Profitability||Business is Profitable|
|Shark Tank Episode||Season 2 – Episode 2|
|Asked For||2 Crores INR for 5% Equity|
|Deal||1 Crore for 10% Equity and 1 Crore Debt at 15% Interest|
|Sharks Invested||Vineeta Singh and Anupam Mittal|
|Valuation Given||10 Crores|
WatchOut Wearables got funding from Vineeta Singh and Anupam Mittal. They both invested 1 Crore for 10% Equity and 1 Crore Debt at 15% Interest.
Frequently Asked Questions About WatchOutWearables
Here are some frequently asked questions about WatchOut Wearables that people are asking over the Internet after their appearance on Shark Tank India season 2:
1. Who Is The Founder of WatchOut Wearables?
Abhisek Baheti is the founder of the brand WatchOut Wearables appeared on Shark Tank India season 2.
2. Is WatchOut Wearables Profitable?
Yes, WatchOut Wearables is a profitable business. They have multiple variants of their smartwatch with a price range of around 10,000 INR. In Financial Years 21-22 the company did revenue of 1.1 Crore and in Financial Years 22-23, till the date of its appearance, the brand did revenue of 1,4 CR. The EBIDTA as shared by the brand was 35% with a net margin of 25%.
3. Why Other Sharks Did Not Invest in WatchOut Wearables?
Aman Gupta shared a few tips with the founder but did not invest in the startup. Peyush Bansal suggested the founder reduce the price of the product a bit. Namita also shared that the price of the product is very high and she will not be able to match the valuation.
3. What Happened to WatchOut Wearables After Shark Tank?
WatchOut Wearables received investment from Vineeta Singh and Anupam Mittal. Both the judges bet on his idea and vision to scale it further to new heights. Their official Twitter handle tweeted about their achievement as shared below:
#WatchOutWearables is grateful to the Sharks for investing in our idea! We’re eager to begin this collaboration and see our dream come to fruition!#SharkTankIndia season 2 is streaming now on Sony LIV.#SharkTankIndiaSeason2 #SharkTankIndiaS2onSonyLIV #SharkTankIndiaS2onSony pic.twitter.com/yO4IGUUUQe
— WatchOut Wearables (@WatchOutWear) January 4, 2023