Jan 18, 2023
By: srishti.magan@timesinternet.in
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Shark Tank India Season 2 had a well-known face, Poonam Bir Kasturi pitching her startup, Daily Dump, along with co-founder, Arjun Dev. Kasturi, who calls herself a ‘Compostwali’ on her LinkedIn profile, has ‘re-imagining waste’ under her job title.
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Her startup, named Daily Dump, is based in Bengaluru and is popular for its household waste management solutions. It produces unique terracotta composters, which help convert kitchen waste into compost. It also sells accessories like compost microbes, sieves, and gardening products
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Kasturi works to change established behaviour around waste management and has also established a network of waste evangelists. She educates people on waste management, busts myths around it and prints books that spread this message. Moreso, she engages potters, helping them earn an income in addition to aiding the circular economy.
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Kasturi, who has won many awards for her work, including one from the World Economic Forum, is not new to entrepreneurship. The National Institute of Design alumna started a craft company, Industree Crafts Foundation, with a friend in 1992. She started Daily Dump in 2006.
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Due to her extensive work and experience, she had a thing or two to tell the sharks too. She corrected Anupam Mittal, founder of Shaadi.com, who believed that kitchen waste has 20 percent water. It has 70 percent water, she told him.
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“When we started (Daily Dump), we weren’t going to talk to people like him (shark Aman Gupta). We won’t go anywhere close to them but (go) to that 10 percent, who cared a little more about the Earth,” Kasturi said on the show.
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On hearing Kasturi’s pitch and responses, Namita Thapar, executive director at Emcure Pharmaceuticals, said “Usually, founders who come here (on Shark Tank India) are intimidated by the sharks. Par aapne toh har ek Shark ki class leli hai (you’ve reprimanded all the sharks here)!”
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Lenskart co-founder Peyush Bansal said Kasturi gave one of the show’s most impressive pitches. Kasturi even schooled sharks Mittal, Vineeta Singh (co-founder, Sugar Cosmetics), and Aman Gupta (co-founder, boAt) on various aspects of waste and waste management.
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Kasturi, however, needed something that sharks had, too. When Thapar recounted that she met Kasturi at the event organised by Niti Ayog, Kasturi humorously remarked, “I’ve come here because I don’t need awards. I need money!”
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Kasturi walked away with an investment of ₹30 lakh for 4 percent equity and ₹50 lakh debt at 10 percent interest from shark Namita Thapar.
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After the episode aired, Thapar shared on LinkedIn, “Her (Kasturi) pedigree & passion blew me away. It’s her tireless efforts in this field that have won her respect.”
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With her products, network, and efforts, Daily Dump is keeping waste out of landfills. It claims to have added over 431 tonnes of compost back into the soil since 2012, and over 80,000 families have used its composters.
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