Sonic Lamb, a startup led by Jagath Biddappa and Navajith Karkera, recently caught the attention of Shark Tank India Season 4. The entrepreneurs presented their innovative headphones, which offer a unique experience in sound. Unlike any other product on the market, their technology allows users to feel the vibrations of music through their body, not just hear it. The founders sought Rs 50 lakh in exchange for a 1% stake, valuing their company at Rs 50 crore.
From the start, the sharks were impressed by the sleek packaging and design of Sonic Lamb’s product. However, Namita Thapar immediately pointed out a critical comparison: how did their product differ from Aman Gupta’s boAt headphones? The founders emphasized that their product’s key differentiator was the “audio quality and experience,” as their technology enabled users to feel sound in ways no other product could. Despite the innovation, they acknowledged that their product is priced significantly higher than boAt’s offerings. While a similar boAt headphone costs around Rs 2,000 to Rs 2,500, Sonic Lamb’s headphones are priced at Rs 17,999.
As the conversation unfolded, the founders shared the financial side of their business. They disclosed that they had already raised two rounds of funding and had received a grant when the company was first launched. Despite the financial backing, Anupam Mittal believed the company was in a precarious financial situation, pointing to the high price point of the product and the challenges in scaling the business. The founders also revealed their dual business model: one side aimed at direct consumer sales through their headphones, while the other focused on licensing their experiential sound technology to car manufacturers.
Aman Gupta, recognizing the potential of their technology, suggested that the founders approach his company, boAt, to license the technology for their premium headphones. However, Gupta ultimately decided not to invest in the company. He believed that while the technology was unique, it wasn’t enough to justify an investment in the current state of the business.
Anupam Mittal and Vineeta Singh were also intrigued but had concerns. They made offers, but with clear caveats. Both wanted the founders to narrow their focus and commit to one lane of business, either headphones or experiential sound. This suggestion would require the founders to abandon the other side of their business, which could potentially limit their growth.
Meanwhile, Peyush Bansal, the co-founder of Lenskart, expressed admiration for the product. He praised the founders for creating a “phenomenal” product with great potential. Peyush saw a global opportunity for Sonic Lamb and offered a deal that would take the brand to new heights. His offer included placing their products in international Lenskart stores, allowing the headphones to gain recognition on a global scale. Additionally, Bansal showed interest in incorporating their technology into a new line of smart eyewear, which he was developing for his brand.
After a detailed discussion, Peyush Bansal struck a deal with the founders. He agreed to invest Rs 50 lakh in exchange for a 1% stake in the company. Along with this, he also asked for 1% advisory shares, ensuring he could guide the company through its next phase of growth. The founders were eager to accept his offer, seeing the value in his vision for global exposure and future product integration.
The founders had already demonstrated innovation and commitment, and now they had the backing to bring their vision to life on a global scale.