Biography of Disha Katharani: Founder and CEO of Imagimake -Entrepreneur
Biography of Disha Katharani:
Imagimake: Revolutionizing Play with Innovation and Passion
Disha Katharani, an engineering and mathematics graduate
from Swarthmore College, and an MBA in Marketing from the Indian School of
Business, always believed in the power of play. Along with her husband Ravi
Kumar, she co-founded Imagimake in 2014, a company dedicated to designing
creative toys and educational games that blend fun with learning. Their journey
has been driven by a vision to foster curiosity, communication, and creativity
in young minds, helping children discover their passions.
From Concept to a Global Brand
Imagimake started with a simple mission: to create engaging
toys that go beyond entertainment and offer educational value. Over the years,
the brand has developed a wide range of products, including DIY kits, puzzles,
and crafting sets. Their innovative approach has helped them expand their reach
to over 20 countries, with their products being recognized by multiple Indian
and international awards.
Unique and Patented Designs
One of Imagimake’s standout innovations is its patented
quilling tool, which enables a hands-free and mess-free crafting experience.
Their portfolio of 120+ SKUs caters to different age groups and interests, with
their most popular product being the India Map puzzle. Each product is designed
in-house by a team of 15 designers under Disha’s leadership, ensuring
originality and quality.
Building a Strong Manufacturing Backbone
The company operates its own manufacturing unit, employing
250 workers to maintain high production standards. With a dedicated operations
team of 20 people and 40 specialists in product design, marketing, and finance,
Imagimake has built a robust system that allows for consistent innovation and
efficient distribution.
A Growing Global Presence
Imagimake’s business model is well-balanced between online
and offline sales. Their products are available on major e-commerce platforms
like Amazon, and they are stocked in over 4,000 physical stores. Impressively,
35% of their sales come from exports, with 90% of that revenue originating from
the US, showcasing their strong international presence.
Financial Growth and Challenges
Despite steady revenue growth, Imagimake has faced financial
challenges, particularly in working capital management. Their revenues have
grown from ₹13 crores in FY20-21 to ₹56 crores in FY23-24, with projections of
₹90 crores for FY24-25. However, managing cash flow has been a struggle, with a
significant portion of their capital tied up in inventory and receivables.
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Navigating a Competitive Market
The toy industry is highly competitive, demanding constant
innovation and aggressive marketing. While Imagimake has successfully
differentiated itself through patented designs and educational value, scaling
further—especially in international markets—requires additional capital and
strategic partnerships.
Seeking Investment on Shark Tank India
To fuel their next phase of growth, Disha and Ravi appeared
on Shark Tank India, seeking ₹1.5 crores for a 1.2% equity stake, valuing their
company at ₹125 crores. They aimed to use the investment to strengthen their
financial position, expand their global reach, and enhance their marketing
efforts.
An Enthusiastic Response from the Sharks
Their pitch immediately caught the attention of the Sharks,
especially Aman Gupta and Vineeta Singh. Vineeta, already a fan of their
products, shared how her sons enjoyed using their quilling kits and Mapology
game. However, she raised concerns about a mobile app linked to one of their
products, questioning its functionality. Ravi clarified that the app was only
associated with a minor part of their portfolio.
Demonstrating Innovation in Action
To showcase their product’s uniqueness, Ravi and Disha
arranged a demo of their Spyrosity Quilling Kit. Aman Gupta was the first to
try it, crafting a fish using their patented tool. The Sharks were impressed by
the ease and creativity enabled by Imagimake’s design, reinforcing the brand’s
potential in the market.
Discussions on Valuation and Equity
While the Sharks appreciated Imagimake’s growth and
innovation, they found the valuation to be on the higher side. Aman Gupta
requested more equity in exchange for the investment. Disha and Ravi, however,
were clear about their objective—they sought not just financial backing but
also strategic mentorship.
A Competitive Offer from the Sharks
Ritesh Agarwal made a counteroffer, proposing ₹1.5 crores
for 1.5% equity, slightly adjusting their initial ask. The offer sparked
deliberations, as the founders weighed the benefits of bringing a Shark on
board versus maintaining their equity stake.
A Strong Founder Team with Strategic Vision
Imagimake is largely founder-driven, with Ravi and Disha
collectively holding 65% of the company—Disha owning 34% and Ravi 31%. Their
hands-on approach and deep involvement in operations, design, and expansion
strategies have been key to their success.
A Bright Future Ahead
Imagimake’s journey reflects a blend of passion, innovation,
and strategic decision-making. With strong financial projections, a growing
international presence, and a well-established manufacturing setup, they are
poised for further expansion. Their appearance on Shark Tank India marks
another step in their journey towards becoming a global leader in educational
toys.
Timeline for story
2014 – Disha Katharani and Ravi Kumar co-founded Imagimake.
2020-21 – Revenue reached ₹13 crores.
2023-24 – Revenue grew to ₹56 crores.
2024 – Projected revenue of ₹90 crores for FY24-25.
2024 – Imagimake appeared on Shark Tank India seeking ₹1.5
crores for 1.2% equity.
2024 – Sharks praised innovation but debated valuation.
2024 – Ritesh Agarwal offered ₹1.5 crores for 1.5% equity.
2024 – Imagimake continued expanding globally with strong
financial growth.
