Shark Tank India Season 3: WiseLife, a Journey from Stress to Success

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The Genesis of WiseLife

**Author: Ethan Dylan**

Stressful times can yield both stagnation and innovation. In the case of Prateek Kedia and Shreya Bansal, the challenges of articleship after completing their CA course ignited a desire for a more fulfilling path. Kedia, grappling with the demands of working 50 hours per week, sought solace in yoga. However, his experience was marred by injuries sustained while using subpar yoga mats purchased online.

Inspired by their shared experience, Kedia and Bansal conceived the idea of WiseLife, a yoga mat brand committed to providing high-quality and eco-friendly products. The concept resonated with the judges of Shark Tank India Season 3, who were impressed by the design and functionality of their yoga mats.

Shark Tank Success

After showcasing their innovative approach to yoga mats, WiseLife secured a deal with Aman Gupta, Anupam Mittal, Ritesh Aggarwal, and Namita Thapar. The investment of Rs 60 lakh for a 2% stake in WiseLife, valued at Rs 30 crore, fueled the startup’s growth aspirations.

Product Range and Innovations

WiseLife offers a comprehensive range of yoga mats in various sizes and shapes, catering to diverse user needs. Additionally, the startup produces yoga accessories such as blocks, straps, and carriers. Their mats are meticulously crafted using natural materials like rubber, suede, cork, and TPE, ensuring durability, comfort, and environmental friendliness.

Future Prospects

WiseLife is poised for expansion into the yoga apparel market, capitalizing on the growing demand for holistic wellness products. The startup’s strategic focus on online sales has been complemented by offline channels, including partnerships with yoga class operators.

Market Opportunity

The Indian yoga wellness market is estimated to be valued at Rs 70,000 crore, with the yoga mat market segment alone worth approximately Rs 3,000 crore. The addition of yoga apparel to WiseLife’s product portfolio aligns with the company’s vision to cater to the expanding market for wellness solutions.

Financial Performance and Goals

WiseLife’s revenue trajectory has been impressive, with earnings of Rs 12.5 lakh in 2020-21, Rs 1.2 crore in 2021-22, and a surge to Rs 4 crore in 2022-23. The startup anticipates further growth, projecting earnings of Rs 12 crore in the current financial year.

Conclusion

WiseLife is a testament to the transformative power of innovation and the ability to turn challenges into opportunities. By addressing the unmet needs of yoga practitioners, the startup has established itself as a leading provider of high-quality yoga mats and accessories. With its strategic expansion plans and unwavering commitment to customer satisfaction, WiseLife is poised for continued success in the burgeoning yoga wellness market.

Credit and rights belong to OMG I Yoga

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