Deeva Startup Ideas

Three college students co-founded Deeva, a legal IT business with its headquarters in DEEVA is an online saree marketplace that offers an extensive selection of handloom and mechanized sarees, therefore connecting them to India's rich tradition and culture. With more than 50 distinct types of sarees from various areas, the portal links consumers with the places where traditional Indian sarees originally originated. DEEVA distinguishes itself from competitors by providing sarees at a substantial discount, typically between 40 and 50 percent off market prices. By doing away with middlemen, the portal enables buyers to buy sarees straight from producers. On Deeva's website, clients may peruse sarees, place orders, and make payments. Delivery services guarantee that sarees arrive at clients' doorsteps. Ankush Barjata, the founder, overcame early obstacles with funding but persisted. After witnessing the contribution of a foreign investor, his father ultimately invested. His study and connections with manufacturers enabled him to comprehend the industry. They pitched their business model in the 36th episode of Shark Tank India Season 3.

Company Details of Deeva Startup Ideas

Deeva. is a platform created by Ankush R. Barjata that delivers various varieties of Sarees directly from Manufacturers to customers, selling exclusively on their website eliminating all unnecessary commission costs. The company is operating its services from a small village in Himachal Pradesh.

Ownership of Deeva Startup Ideas

Ankush Barjata founded Deeva, a company that connects customers with saree manufacturers, reducing costs by 40-50% compared to market rates. Deeva offers a wide range of sarees to cater to women's dream wardrobes. After leaving his MNC job, Barjata researched the clothing industry in 10 cities and realized that market demand determines product costs. He created an app for customers to browse sarees directly from manufacturers and make online payments, with delivery services like Ship Rocket handling order delivery.

Business Model of Deeva Startup Ideas

Deeva uses a direct-to-manufacturer business strategy to lower expenses and guarantee competitive pricing by putting buyers and saree producers in direct contact. A large selection of saree styles, materials, and designs are available on the company's internet platform, and delivery services like Pickr and Ship Rocket guarantee delivery to clients' doorsteps. Sales of its products, commissions from manufacturers, and delivery costs from logistical partners are how Deeva makes money. In addition, it takes a cut of every successful transaction, provides early access or premium feature subscription models, and collaborates with companies to run targeted advertisements on the network. The site generates income through commissions, shipping fees, and product sales.

Products and Services of Deeva Startup

Deeva is a saree brand that works with more than 200 manufacturers to provide more than 50 distinct saree categories throughout India, accommodating a range of ethnic origins. In addition to smooth and opulent satin silk sarees in hues like green, wine, and cyan blue, the firm provides vivid Banarasi silk sarees in vivid colors like orange, magenta pink, and azure. Customers have praised Deeva for its silky fabric, customizable neckline, and reasonably priced quality. Prioritizing quality, the brand works with leading producers to guarantee the finest materials and craftsmanship. Before being sent, Deeva's products go through a two-step inspection procedure to guarantee the best quality and client satisfaction. A piece of detailed information about the accessible services by Deeva can be viewed through its website: www.thedeeva.com.

Business Valuation of Deeva Handicraft Startup Ideas

Deeva presented their pitch in Shark Tank India seeking an investment of ₹2 Cr for 4% equity at the business valuation of ₹50 Cr.

• Aman: He liked the founder and his pitch a lot and only because of that reason he gave a collaborative offer of ₹75 Lakhs for 7.5% equity at the business valuation of ₹10 Cr with ₹1.25 Cr at debt at 10% interest for a 3-year tenure with Shark Ritesh and Radhika.
• Vineeta: She got excited by the founder’s pitch but she was not able to find any such distinguishing factor in the brand that anyone else can’t copy. Hence, she didn’t invest.
• Radhika: She joined the deal with Aman and Ritesh, and was in with giving an offer of ₹75 Lakhs for 7.5% equity at the business valuation of ₹10 Cr with ₹1.25 Cr at debt at 10% interest for a 3-year tenure.
• Ritesh: He joined the same deal with Aman and offered ₹75 Lakhs for 7.5% equity at the business valuation of ₹10 Cr with ₹1.25 Cr at debt at 10% interest for a 3-year tenure which was later joined by Shark Radhika also.
• Peeyush: He stated that the founder has great salesman strategic intelligence qualities, but some parts of the founder's pitch were too good to be true which didn’t let him develop a sense of trust with him and hence, he didn’t invest.

After extensive negotiations, the founder cracked a deal of ₹75 Lakhs for 6% equity at the business valuation of ₹12.5 Cr with ₹1.25 Cr as debt at 10% interest for a 3-year tenure with Shark Radhika, Aman, and Ritesh.

Bizfoc Analysis of Shark Decisions of Deeva Startup Ideas

A young businessman from Himachal Pradesh named Ankush Barjata created Deeva, a concept that lowers prices by 40–50% by putting buyers and saree makers directly in contact. The Sharks made him an offer of ₹75 lakhs for 6% equity and ₹1.25 crore in debt with 10% interest over three years. This investment strengthened local workmanship and increased sales for Deeva. Direct sourcing, a large selection, and affordable prices are some of Deeva's strong points. Quality control and ongoing innovation in the online saree business are challenges.

Some Key strengths and weaknesses of Deeva Startup ideas:

Strengths:

• Direct-to-Manufacturer Model: Deeva's strategy does away with middlemen, guaranteeing economical and competitive pricing.
• Large Selection: The site appeals to a wide range of customers by providing a variety of saree alternatives.
• Founder's Determination: Deeva's success is fueled by Ankush Barjata's vision and dedication.

Weaknesses:

• Competition: There is fierce competition in the online saree business, which calls for constant innovation.
• Quality Control: It might be difficult to guarantee uniform quality among producers.

Future of Deeva Startup Ideas

Targeting saree aficionados worldwide and the Indian diaspora, Deeva is a saree brand that has the potential to grow its market share outside of India. To improve consumer experience, the firm might expand into other product categories, such as accessories, petticoats, and blouses. Deeva's brand image might be enhanced by partnerships with other fashion firms and well-known designers. The purchasing experience might be enhanced by technological innovations like adding virtual try-on capabilities and enhancing the mobile app and website's user interface. Deeva's dedication to sustainability fits nicely with current consumer preferences, drawing in eco-aware customers. Workshops, webinars, and other community involvement initiatives can help to promote traditional handicrafts. Marketing plans and inventory management can be guided by data-driven decisions.

Conclusion

Following a pitch, DEEVA was able to attract the interest of Sharks into the business, but throughout the pitch, after pointing out the key highlights of the business model, Sharks were curious to join the business, and hence the founder got a 3 shark deal.

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