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Shark Tank India 3: The yoga and wellness company 'WiseLife' secured a Rs 1.2 crore deal with four sharks in the recent episode of the third season of the business reality show Shark Tank India. Gurugram natives Prateek Kedia and Shreya Bansal presented 'WiseLife,' their invention, on Shark Tank India 3.
Their yoga mats contain features like one-time rolling, improved grip, and more cushioning. The yoga mats are manufactured using natural rubber, suede, and cork thermoplastic elastomer (TPE).
Speaking about the concept for the company, Prateek revealed that, like many young people, he had made work his life. He would be under continual stress and work more than fifty hours a week. It was only then that he realized this could not continue. Health is riches, after all. Prateek thus began practicing yoga at last.
After placing an internet order for several yoga mats, he experienced issues with the mats not unfolding correctly, slipping during poses because I didn't have a good grip and soreness in my elbows and knees from inadequate padding.
They invented 'Wiselife' to help them tackle these issues. According to Shreya, their mats are not only reasonably priced, of high quality, and environmentally friendly, but they also feature appealing designs. In addition, they have introduced yoga props including belts, blocks, and wheels in addition to yoga mats.
Namita Thapar shared that yoga is a part of her everyday routine and asked the pitchers how they adapted to the lifestyle at such a tender age. Namita and Prateek stated that their work with PWC to obtain CA Articleship required a lot of effort and was time-consuming. Therefore they incorporated yoga into their routine to relax.
Anupam Mittal asked if their company aligned with the aspirations of the Canadian brand activewear and yoga attire brand, Lululemon. Prateek agreed that they are inspired by the brand and went on to say that they focus more on producing environmentally friendly yoga mats.
Ritesh Agarwal complimented the business owners on presenting the idea barefoot as it displays that yoga should be incorporated seamlessly into your life. He expressed faith in the company by stating that the products offer a world-class experience. Also, he appreciated the uniqueness of the product designs.
According to Prateek, they have more than a lakh clients and aim to introduce yoga to every Indian home, encouraging people to prioritize their health and well-being. For this reason, they requested Rs 60 lakh for 2% equity.
Ultimately, they reached an agreement with Aman, Anupam, Namita, and Ritesh to exchange 4% stock for Rs 1.2 crore.
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