Watchout Wearables is a next-generation smartwatch designed specifically for children. This premium security watch offers a range of features, including a SIM card slot, camera, GPS tracking, real-time messaging, WiFi, video calls, and more.
Founded by Abhisek Baheti and Noopur Baheti in 2018 in Mumbai, Maharashtra, Watchout Wearables focuses on providing innovative safety features for kids. As the smartwatch market in India continues to grow, with an estimated value of $124.80 million by 2027, Watchout Wearables stands out by offering unique features that cater to child safety.
Abhishek Baheti presented Watchout Wearables on Shark Tank India Season 2, Episode 2, seeking ₹2 crores for 5% equity, valuing the company at ₹40 crores.
This smartwatch allows parents to track their child’s activities and ensure their safety through various features like a camera, video call capabilities, nano SIM card support, WiFi, GPS, and real-time messaging. Parents can monitor their child’s safety using the mobile application that pairs with the watch.
Watchout Wearables is available on multiple online platforms, including Amazon, Firstcry, Myntra, Nykaa, and Croma. The watch is offered in three colors: Purple, Gray, and Macaw Blue, priced at ₹11,999.
| Company Name | Watchout Wearables |
| Founder | Abhisek Baheti |
| Founded | April 2021 |
| Business | premium smart watch brand |
| Asked For | ₹2 Crores for 5% equity |
| Final Deal | ₹1 Crores 10% equity + ₹1 Crores loan @ 15% interest |
| Shark | Anupam Mittal and Vineeta Singh |
| Episode (Shark Tank India) | S2 E2 |
| Air Date | Jan 3, 2023 |
| Business Status | In Business |
| Website | Visit Now |
| Headquarters | Mumbai, Maharashtra, India |
| Lifetime Worth (Sales) | ₹4 Crores *estimated |
| Go To Amazon | Buy Now |
| Watch On | Amazon Prime |
Another Shark Tank Pitch
Who Is The Founder Of Watchout Wearables?
Abhisek Baheti is the co-founder and CEO of Watchout Wearables, a smartwatch company he launched in 2021 with Noopur Baheti. Abhisek is a business marketing expert with experience working in various roles at Pidilite Industries Limited for four years.
He holds an MBA in Marketing from the Symbiosis Centre for Management and Human Resource Development.
How Was The Shark Tank India Pitch Of Watchout Wearables?
Abhisek Baheti entered Shark Tank India seeking an investment of ₹2 crores for 5% equity in his company, Watchout Wearables. He presented his smartwatch product to the sharks, explaining its features and how it works.
The smartwatch is currently selling for around ₹10,000. In the financial year 2021-22, the company recorded an annual sale of ₹1.1 crores. For the financial year 2022-23, sales have reached ₹1.4 crores so far. Notably, sales in August 2022 were ₹25 lakhs, while July 2022 saw sales of ₹5 lakhs.
The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is 35%, with a net margin of 25%. The sales projections were ₹30 lakhs for September 2022 and ₹30-40 lakhs for October 2022.
During the pitch, Aman Gupta mentioned that lowering the product’s price could attract more Indian consumers, but ultimately decided not to invest. Peyush Bansal stated that he couldn’t match the company’s valuation and opted out. Namita Thapar also expressed concerns about the high price point and chose not to invest.
Abhisek manufactures the smartwatches in a 300-square-foot space, producing 500 units monthly.
Anupam Mittal and Vineeta Singh offered ₹1 crore for 10% equity, along with a ₹1 crore loan at 15% interest, valuing the company at ₹10 crores. Abhisek countered with an offer of ₹1 crore for 5% equity and a ₹1 crore loan at 15% interest, valuing the company at ₹20 crores.
Anupam declined this counteroffer. Abhisek then made another counteroffer of ₹1 crore for 7.5% equity and a ₹1 crore loan at 15% interest, which valued the company at ₹13.33 crores.
Finalize: Anupam Mittal and Vineeta Singh invested ₹1 Crores in “Watchout Wearables” for for 10% equity + ₹1 Crores Debt @ 15% interest rate.
Watchout Wearables Shark Tank India Update
Watchout Wearables secured a deal on Shark Tank India. Anupam Mittal and Vineeta Singh invested in the smartwatch company at a valuation of ₹10 crores. The sharks mentioned that the business is very risky, and their offers were non-negotiable.
The market size for this safety smartwatch is estimated to be ₹100 crores. While the pitch received praise on social media, many people commented on the high price of the watch, noting that it might be too expensive for the average Indian consumer.
The company plans to launch a Senior Citizen Smart Watch, which is now available for pre-order and priced at ₹7,999.
Following their successful pitch on Shark Tank, Watchout Wearables expects total sales of ₹2.3 crores for 2022. By the end of the year, the company had achieved total sales of ₹3.4 crores, with a net profit margin of 25%.
What Is Watchout Wearables Net Worth?
In Shark Tank India, Watchout Wearables initially had a valuation of ₹40 crores. However, the current valuation of the company stands at ₹10 crores. This smartwatch, designed specifically for child safety, belongs to a unique category with a relatively small target audience.
Despite the niche market, the smartwatch business has been performing well in 2023, with strong profit margins. However, the product’s high price point is a concern. If the price were reduced to around ₹5,000, sales could potentially increase.
The Watchout Wearables smartwatch is available in offline retail stores like Croma, Firstcry, Hamleys, and Jio Mart.
Yes, Watchout Wearables is still in business as of April 2024.
