Shark Tank India Season 2 – All Businesses – P1 (8 mins read)

Hello readers! This is that time of the year again when we are able to witness the entrepreneurial fire of India. Shark Tank India Season 2 is here and so are we. After the tremendous success of Shark Tank India Season 1, the whole country was waiting for the next season to come. This season was already in the news long before it aired due to several controversies surrounding Ashneer Grover, who was one of the sharks in season 1.  It is one of the most popular shows in India right now.

So far season 2 of shark tank India has lived up to the expectations. Though some portion of the audience is missing the brutal feedback Ashneer used to give. WealthDrift has brought to you an article that covers all the businesses that came in the first week of Shark tank India Season 2. This article will not only tell you about the businesses or the contestants that came on Shark Tank India but also about what these contestants did to get the offer or what was lacking in them due to which they had to return empty-handed.

1. Hoovu Fresh

Entrepreneurs- Yeshoda Karuturi and Rhea Karuturi

Product- Fresh flowers for pooja.

Offer-INR 80 Lakhs for 1% equity.

Valuation- INR 80 Cr.

Pitch and negotiation- The team has done a remarkable job in increasing the shelf life of flowers from 2 days to 15 days. Also, the waste reduction in their business was 2-3% as compared to the industry standard of 40%.  Vineeta and Namita gave a combined offer of INR 40 lakhs for 4% equity along with INR 40 lakhs as debt at a 12% interest rate.  However, the team informed sharks that they have already raised investment at INR 50 Cr valuation. Anupam didn’t offer to invest because he believed that this business will stop growing after a certain stage. Peyush and Aman offered INR 1 Cr for 2% equity. Namita and Vineeta revised their offer to INR 50 lakhs for 1% equity and INR 30 lakhs at a 12% interest rate.

Final Deal- INR 1 Cr for 2% equity by Peyush and Aman.

Aman Shark Tank India products

2. Dorje Teas

Entrepreneurs- Ishaan Kanoria and Sparsh Agarwal

Product- Darjeeling Tea through subscription model..

Offer- INR 30 Lakhs for 5% equity.

Valuation- INR 6 Cr.

Pitch and Negotiation- The product was good, and the gross margin was 75% but the net margin was negative. But the product was not much relatable for the Indian market where people are very particular about their milk tea due to which Namita and Aman didn’t invest in the business. However, Peyush, Vineeta, and Anupam gave a combined offer of INR 30 lakhs for 15% equity to make this brand a premium tea brand but not through subscription mode.

Final Deal- INR 30 Lakhs for 15% equity by Peyush, Vineeta, and Anupam.

3. Recode Studios

Entrepreneurs- Dheeraj Bansal and Rahul Sachdeva

Product- Makeup brand.

Offer- INR 1 Cr for 1% equity.

Valuation- INR 100 Cr

Pitch and negotiation- The business and profit margin of 6% was good. The packaging was ordinary but the marketing strategies of the team were pretty impressive. But since Vineeta is in the same line of products, Namita, Aman, and Vineeta didn’t invest. Peyush didn’t invest in the business because the branding was not good and he believed that he won’t be able to add value. Anupam was of the opinion that the valuation asked was very high and the decision-making process of the team was very chaotic therefore he didn’t invest.

Final Deal- No offers.

4. Very Much Indian

Entrepreneurs- Manish Atri and Slony Baldev Gambhir.

Product- Indian Traditional Paithani Sarees

Offer- INR 50 Lakhs for 3% equity.

Valuation- INR 16.67 Cr.

Pitch and negotiation- All the sharks were impressed by the product but due to labor-intensive products the gross margin was low (35%). Namita offered INR 50 Lakhs for 10% equity. Peyush didn’t invest because he considered Namita’s offer as a good offer. For the same reason, Vineeta also didn’t invest in the business. Anupam was not interested in this business. Aman joined the offer of Namita. The team gave a counteroffer of INR 75 Lakhs for 10% equity.

Final Deal- INR 50 Lakhs for 10% equity by Namita and Aman.

Namita Thapar

5. Watchout Wearable

Entrepreneur- Abhishek Baheti.

Product- Smartwatches for kids and old age people for safety and connectivity

Offer- INR 2 Cr for 5% equity

Valuation- INR 40 Cr.

Pitch and negotiation- The product was good but the price was high which decreased the market size to a very small level. Hence, the valuation was not in line with the market size. Due to the high price and valuation Aman, Peyush and Namita didn’t invest in this business. Anupam and Vineeta together offered INR 1 Cr for 10% equity and another INR 1 Cr debt at a 15% interest rate. Abhishek gave a counteroffer of INR 1 Cr for 5% equity and INR 1 Cr debt at a 15% interest rate which both the sharks denied. He gave another counteroffer of the same amount for 7.5% equity which was again denied.

Final Deal- INR 1 Cr for 10% equity and another INR 1 Cr debt at a 15% interest rate by Anupam and Vineeta

6. SoupX

Entrepreneurs- Uttam Kumar and Priyank Jain

Product- Soup-based meal brand.

Offer- INR 75 lakhs for 6% equity

Valuation- INR 12.5 Cr.

Pitch and negotiation- During the presentation, the team were not able to answer the basic knowledge about the fundamentals of a healthy diet and nutrition. Due to this, Anupam and Namita didn’t invest in the business. Peyush believed that he won’t be able to add value to the business and the team was currently burning INR 1-1.5 lakh due to which Peyush didn’t invest in the business. For the same reason, Aman also opted out of investing in this business. Vineeta offered to invest in the business after a lot of requests from the team. She offered INR 50 lakhs for 20% equity and INR 25 lakhs as debt at a 12% interest rate. The team gave a counteroffer of INR 50 lakhs for 18% equity and INR 25 lakhs as debt at a 12% interest rate.

Final Deal- INR 50 lakhs for 18% equity and INR 25 lakhs as debt at a 12% interest rate by Vineeta.

Read our article Shark Tank India Season 1 to know about the businesses that appeared in the first season.

7. Atmosphere Kombucha

Entrepreneurs- Ariella Blank and Rebekah Sood

Product- Kombucha- a health drink for good gut health.

Offer- INR 75 Lakhs for 3% equity

Valuation- INR 25 Cr.

Pitch and negotiation- The product was good but the price was high. Also, the product is a cold chain product which is an expensive affair where distribution is a big headache. Due to these reasons Namita, Aman, and Peyush didn’t invest in the business. Anupam offered to invest INR 75 lakhs for 20% equity while Vineeta offered INR 30 lakhs for 10% equity and INR 45 lakhs as debt at a 12% interest rate. The team gave a counteroffer to Anupam of the same amount for 8% equity.

 Final Deal-No deal

8. Stage

Entrepreneurs- Parveen Singhal, Vinay Singhal, and Shashank Vaishnav

Product- OTT platform that launches content in local languages.

Offer- INR 3 Cr for 1% equity.

Valuation- INR 300 Cr.

Pitch and negotiation- Due to the high valuation and high ask Vineeta opted out of investing in this business. Anupam believed that his INR 3 Cr will not make much difference in this business as they already had an investment of INR 36 Cr. Aman, Peyush, and Namita offered INR 1.5 Cr for 0.6% equity and INR 1.5 Cr as debt at an 18% interest rate.

Final Deal- INR 1.5 Cr for 0.6% equity and INR 1.5 Cr as debt at an 18% interest rate by Aman, Peyush, and Namita

Peyush Shark tank India

9. Girgit Store

Entrepreneur- Puja Bajaj Shah and Benoy Shah

Product- Color-changing products for kids and adults

Offer- INR 20 Lakhs for 10% equity

Valuation- INR 2 Cr

Pitch and negotiation- The team was relying on only one feature (changing color products) to build a large-scale business. However, the market size of such products is very small. Due to these reasons Peyush, Vineeta, Aman, and Anupam opted out of investing in this business. Namita gave an offer of INR 20 lakhs for 20% equity because the business had the advantage of cheap raw materials from their family business. The team gave a counteroffer of the same amount for 20% equity which they revised to 15%.

Final Deal- INR 20 Lakhs for 20% equity by Namita.

10. Winston

Entrepreneurs- Himanshu Adlakha and Nikita Adlakha

Product- Beauty appliances that can be used at homes for salon-level results

Offer- INR 1 Cr for 4% equity

Valuation- INR 25 Cr

Pitch and negotiation- They were selling Chinese products and labeling them in India. Due to trust issues with Chinese products, Namita didn’t invest in the business. Peyush believed that he won’t be able to add value due to which he also opted out of investing in this business. Aman was not able to invest because of already being invested in a similar kind of business. Anupam and Vineeta offered INR 1 Cr for 10% equity.

Final Deal- INR 1 Cr for 10% equity by Anupam and Vineeta.

11. Flatheads

Entrepreneur- Ganesh Balakrishnan

Product- Shoes that are breathable and light.

Offer- INR 75 Lakhs for 3% equity

Valuation- INR 25 Cr.

Pitch and negotiation- The product and the comfort factor were good but the styles were limited. The business is currently operating in negative margin @ 20% which is very huge. The vision and strategy of Ganesh lacked clarity and were not in line with how this business should move forward. Due to these reasons Namita, Vineeta, Anupam, and Aman didn’t invest in the business. The financial condition of the business, as well as the entrepreneur, was in very bad shape due to which Anupam offered Ganesh a job. Peyush gave an offer of INR 75 lakhs for 33.33% equity on the condition that the business has to reset. This was one of the most touching movements in Shark Tank India Season 2.

 Final Deal- Ganesh said he will work with another D2C business and then come back in the business.

Anupam Shark tank India season 2

12. Organic Smokes

Entrepreneurs- Nitin Chhabra, Piyush Chhabra, and Gaurav Chhabra.

Product- Organic smoke using herbs.

Offer- INR 1 Cr for 1% equity.

Valuation- INR 100 Cr.

Pitch and negotiation- The business was providing substitutes for cigarettes with no harmful effects. Namita and Peyush because of a lack of expertise didn’t invest in the business. Anupam was of the opinion that the claim “No harmful effects” is a false claim and the sales so far were to the distributor only hence he didn’t invest in the business. For the same reason, Aman also didn’t offer to invest. Vineeta also lacked conviction about this business scaling into a large-scale business and hence didn’t invest.

 Final Deal- No offers.

Here are 250 small business ideas with low investment that you can go for if you want to start a business or a side hustle.

13. Gear Head Motors

Entrepreneurs- Gunda Nikhil and V Sai Meher Krishna

Product- Electric bicycle and tricycle

Offer- INR 75 Lakhs for 2% equity.

Valuation- INR 37.5 Cr.

Pitch and negotiation- Product and sales were good however, the presence of two companies with one dealing with the tech part and the other dealing with cycle manufacturing made the whole deal confusing. The presentation didn’t go well since the team had the wrong idea about the market size and they were changing their statements like anything. Due to these reasons Namita, Vineeta, and Anupam didn’t invest in the business. Aman and Peyush together offered INR 1 Cr for 7.5% equity on the condition that the two companies will merge and the valuation should be the same as that of the previous investor. The team to match the previous valuation gave a counteroffer of INR 1 Cr for 6.67% equity.

Final Deal- INR 1 Cr for 6.67% equity by Aman and Peyush.

14. Patil Kaki

Entrepreneurs- Vinit Govinda Patil, Geeta Govinda Patil, and Darshil Anil Savla

Product- Home-style snacks brand

Offer- INR 40 Lakhs for 2.5% equity.

Valuation- INR 16 Cr.

Pitch and negotiation- The product, packaging, sales, and strategy of the team were impressive. Anupam offered INR 40 lakhs for 4% equity, Vineeta offered the same money for 10% equity, and Aman offered the same money for 5% equity. Namita opted out of investing because other sharks would be more helpful in this business. Peyush joined Anupam’s offer. The team gave a counteroffer with the four sharks together. On this Aman revised his offer to 4% but on the condition that he will invest alone.

Final Deal- INR 40 lakhs for 4% equity by Aman and Peyush.

Vineeta

15. Brandsdaddy

Entrepreneurs- Roshaan Vivekanand Mishra and Ankita Roshaan Mishra

Product- Auto fire-extinguisher balls.

Offer- INR 70 Lakhs for 5% equity.

Valuation- INR 14 Cr.

Pitch and negotiation- The product would do better in B2B (Business to Business) and B2G (Business to Government) segments. Due to this reason Vineeta, Aman, Peyush, and Anupam opted out of investing in this business. Namita offered to invest INR 35 lakhs for 5% equity and INR 35 lakhs as debt at a 12% interest rate. The team gave a counteroffer of INR 50 lakhs for 5% and the rest as debt at a 12% interest rate.

Final Deal- INR 35 lakhs for 5% equity and INR 35 lakhs as debt at a 12% interest rate by Namita

So, readers, this was the list of businesses with their products that appeared in the first week of Shark Tank India Season 2 and the deals they got from sharks. We hope you liked the article. Feel free to share it with your peers. Stay tuned for the next part where we will cover the last lot of businesses. Follow us on Instagram (wealth_drift) for valuable and easy-to-implement tips on personal finance.

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