Venture into the Unknown Safely with Kyari's Groundbreaking Smart Stick Guardian

Kyari is an adventure safety gadget-making company that provides an innovative solution for trekkers and campers to ensure their safety from wild animals. The founders, brother, and sister duo come from an adventure enthusiast family and were inspired to create something that could protect adventurers and forest guards. Their vision is to design and manufacture products that make the adventure experience safe and secure.

USP

Kyari's unique selling proposition is its world-first Smart Stick Guardian. The Smart Stick Guardian is an adventure safety gadget with a range of features, including lights with multiple modes, a loud alarm system, and a taser that can give a shock of 10,000V and 1mA to animals without harming them. It can also work as a power bank for phone charging and can be converted into an axe or shovel, and it comes with a wall mount. The product is designed and manufactured entirely in India, making it a great example of the government's Make in India campaign.

Business Model & Target Market of the Startup

Kyari's business model is based on the principle of lean manufacturing and in-house production. The company manufactures its products in-house, allowing it to control the quality and ensure timely delivery. Kyari has also adopted a dealer-based distribution model where it offers a 30% margin to dealers who sell their products. This model has helped the company increase its reach and customer base. Additionally, Kyari offers a profit margin of 30%, which is quite impressive in the adventure safety gadget-making industry.

Kyari's target market includes adventure enthusiasts, especially trekkers and campers, who are looking for a reliable and safe adventure experience. The company aims to tap into the growing camping market in India, which is currently worth roughly ?1000 crore. Additionally, Kyari aims to target the global market, which is valued at ?110000 crores. The company's unique selling proposition (USP) is its world-first smart stick, which offers a comprehensive range of features designed to keep adventure enthusiasts safe in the wild.

Kyari's products are designed to cater to the needs of forest guards, adventure enthusiasts, and anyone who wants to feel safe in the wild. The company's products have been tested and used by over 2000 forest guards, who have attested to their effectiveness. The company's focus on safety and reliability has helped it build a loyal customer base, and the increasing sales over the years are a testament to this fact.

Gross Sales

Kyari has been able to achieve impressive growth in sales since its inception. In FY 18-19, Kyari's sales were ?8 lakhs, which grew to ?30 lacs in FY 19-20. In the next fiscal year, the sales surged to ?1.2 crore, which increased further to ?1.4 crore in FY 22-23, till date, with sales of ?75 lakhs. In July 22, Kyari's sales were ?10 lacs, which increased to ?17 lakhs in August 22.

The product's price range is between ?10,000 to ?17,000, depending on the version, and the cost price of each product is between ?2,000 to ?3,500. Kyari's maximum sales occur through dealers, and the company provides a margin of 30% to them. Kyari has a profit margin of 30%, and its current month profit is ?5.1 lakhs.

Journey on Shark Tanks India and Future Plans

Kyari, the adventure safety gadget-making startup, appeared on Shark Tanks India to seek investment in exchange for equity in the company. The founders, Abhay Sharma and Smartika Sharma, pitched for an investment of ?51 lakhs for 1% equity in the company, which valued Kyari at ?51 crores.

During the show, the founders received multiple offers from the Sharks. Namita and Amit offered ?51 lakhs for 10% equity, Peyush Anupam and Aman offered ?51 lakhs for 12% equity, and the founders themselves offered ?51 lakhs for 2% equity. After multiple rounds of negotiations, the final deal was closed with Peyush and Anupam, who invested ?51 lakhs for 6% equity in Kyari.

Kyari's future plans include expanding its market reach and product offerings. The company plans to increase its product line by introducing more adventure safety gadgets and gear. The founders also aim to expand their sales channels by opening more retail outlets and partnering with e-commerce platforms to reach a wider customer base.

Kyari also plans to expand its reach beyond India and tap into the global market for adventure safety gadgets, which is valued at ?110000 crores. The company aims to establish itself as a prominent player in the global market by offering high-quality and innovative products that meet the needs of adventure enthusiasts worldwide.