Watchout Wearables is the next generation kids smart watch. It is a premium security watch which comes with various features like sim enabled, camera, GPS tracking, real time messages, WiFi Enabled, Video Call and many more.
Watchout Wearables is an innovative brand which comes with different unique and safety features for kids. This Next Gen Smart Watch business was launched by Abhisek Baheti and Noopur Baheti in 2018 at Mumbai, Maharashtra.
India’s smart watch market is a growing industry and is estimated to reach $124.80 million by 2027. At present, there are many smart watch brands that sell watches at different prices.
This watchout wearables one is about the security of children and this watch provides completely different features from the rest of the watches in the market.
Abhisek appeared in Shark Tank India Season 2 Episode 2 with his business and asked sharks for ₹2 crores for 5% equity at a ₹40 Crores Valuation.
What Is Watchout Wearables?
Watchout Wearables a Next Generation Security Premium Smart Watch for Kids. Through this smart watch, parents can track their child’s activity and find out whether the child is safe or not.
This watch has camera, video call, nano sim card, wifi, GPS, real time messaging etc. many more safe features. Through the mobile application of this watch, parents can keep an eye on their child.
This watch is available on many online stores like Amazon, Firstcry, Myntra, Nykaa, Croma and many more. This watch comes in 3 colors Purple, Gray and Macaw Blue and is priced at Rs.11,999.
|Company Name||Watchout Wearables|
|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|
|Headquarters||Mumbai, Mahrashtra, India|
|Go To Amazon||Buy Now|
Another Shark Tank Pitch
Who Is The Founder Of Watchout Wearables?
Abhisek Baheti is the co-founder and CEO of this smart watch company, he launched this company in 2021 along with Noopur Baheti.
Abhisek is a Business Marketing Expert, He has worked in various job positions in Pidilite Industries Limited for 4 years.
He completed his MBA in Marketing from Symbiosis Centre For Management and Human Resource Development.
How Was The Shark Tank India Pitch Of Watchout Wearables?
Abhisek enters Shark Tank India and demands ₹2 crores for 5% equity from the shark. He explained to Shark about his product and told how it works.
The selling price of this watch is running around ₹10,000. His annual sale in the financial year 2021-22 was ₹1.1 crores. So far ₹1.4 crore sales have been done in the financial year 2022-23.
In August 2022, his sale was of ₹25 lakhs. In July 2022, his sale was of ₹5 lakhs. His EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) is 35%. In this, his net margin is 25%. Projected to sell ₹30 lakhs by September 2022, Estimated to sell ₹30 Lakhs – ₹40 lakhs by October 2022.
Aman Gupta said that if the price of the product is reduced then the Indian consumer will buy it, he is out. Peyush Bansal said he can’t come near this valuation so he is out.
Namita Thapar said the price is too high so she is out. He has a house of 300 square feet where he manufactures his products. Every month he makes 500 units of watches.
Anupam Mittal and Vineeta Singh offered ₹1 Crores 10% equity + ₹1 Crores loan @ 15% interest at a ₹10 Crores valuation.
Abhisek countered ₹1 crores for 5% equity + ₹1 Crores loan @ 15% interest at a ₹20 Crores Valuation. Anupam said, no. Abhishek made another counter offer of ₹1 crore for 7.5% equity + ₹1 crore debt @ 15% intrest at a ₹13.33 Crores valuation.
Finalize: Anupam Mittal and Vineeta Singh invested ₹1 Crores in “Watchout Wearables” for for 10% equity + ₹1 Crores Debt @ 15% Intrest rate.
What Happened To Watchout Wearables After Shark Tank?
Watchout Wearables got a deal on Shark Tank. Anupam and Vineeta invested in this smart watch business at a valuation of ₹10 crores.
Shark said that this business is very risky and their offers are not negotiable. The market size of this safety smart watch is estimated to be ₹100 crores.
Many people praised this business pitch on social media, but the price of the watch is very expensive, no common Indian will be able to buy this product.
The company is soon going to launch the Senior Citizen Smart Watch priced at Rs 7,999 and is now on pre-order.
Watchout Wearables Shark Tank India Update
This business successfully got investment in Shark Tank and the entrepreneur pitched the shark very well. In 2022, the company’s total sales are expected to be ₹2.3 crores.
By the end of 2022, this company has sold a total of ₹3.4 crores and the net profit in these sales is 25%.
We’re following Abhisek Baheti along with his company for further updates.
What Is Watchout Wearables Net Worth?
In Shark Tank India, this company had made a valuation of ₹40 crores. Watchout Wearables is currently worth ₹10 Crores. This smart watch is for the purpose of child safety and comes in a different category. The audience of this category is also very less.
Is Watchout Wearables Still In Business?
This smart watch business is performing very well in 2023 and their profit margin is also very good. The price of this smart watch is expensive, if the price is brought down to ₹5,000 then maybe the sale can be boosted.
This smart watch product is available at offline retail stores Croma, Firstcry, Hamleys and Jio Mart.
Watchout Wearables company is headquartered in Mumbai, Maharashtra, India and employs 2 to 10 people.
Yes, Watchout Wearables is still in business as of January 2023.
frequently asked questions
Who founded Watchout Wearables?
Watchout Wearables Founded by Abhisek Baheti in April 2021.
Where is the headquarter of Watchout Wearables?
Watchout Wearables is headquartered in Mumbai, Mahrashtra, India.