Shark Tank India has returned with its second instalment on Sony Entertainment Television and Sony LIV. Shark Tank India Season 2 episode 20 titled “Nurturing Indian Entrepreneurs” premiered on January 26, 2023 during the 10-11PM IST time slot. Payel Seth is the show’s creative director, while it’s been produced by Studio NEXT, with Ravikesh Vatsa as its writer.
The show is hosted by comedian Rahul Dua, and graced by six judges, better known as sharks – Anupam Mittal Founder-CEO of Shaadi.com – People Group; Aman Gupta, Co-Founder-CMO of boAt; Namita Thapar, Executive Director of Emcure Pharmaceuticals; Vineeta Singh, Co-Founder-CEO of SUGAR Cosmetics; Peyush Bansal, Founder-CEO of Lenskart.com and Amit Jain, Co-Founder-CEO of CarDekho Group and InsuranceDekho.com.
-Shark Tank India Season 2 Episode 20 Recap Contains Spoilers-
Shark Tank India Season 2 Episode 20 Recap
With an 100% made in India trendy fashion line to spice up men’s wardrobe, ‘Snitch’ started out in 2020 and is presently sending out more than 2000 daily orders, and the credit for the same goes to its humble founder, Siddharth R. Dungarwal. Hoping to raise the bar for men’s fashion in the nation, he requests an investment of Rs. 1.5 crores for 0.5% equity.
Unlike many other entrepreneurs in the field, Dungarwal introduces himself as a mere B.Com graduate, and not an IIT-ian, or IIM student. Building his company on the sole conviction of his love for fashion and wanting to hit it big in the market, he founded his company, originally as a B2B company. Eventually, as the COVID pandemic endangered his business line, his team switched to the online mode as well, and earned further success.
To raise his brand to the level of a high-end fashion chain and beat brands like Zara, he promotes his inventory as a “fast fashion” game. Earning a monthly profit of Rs. 50 lakhs, the bootstrap company, i.e. for which the founders themselves put in the funds to raise the brand name and own the absolute equity, they haven’t raised any funds. The projected sales for the mastermind race are estimated at Rs. 90 crores – Rs. 100 Crores for the financial years of 2022-2023.
The sharks are astounded to witness the extent of clarity Siddharth has in his business. This also brings him to share an emotional episode about his parents and how they’ve supported him thoroughly. The story touches the sharks’ hearts and this churns out the first all shark deal of the season and it’s sealed at Rs. 1.5 crores at 1.5% equity.
For the second pitch of the day, it’s time to reimagine fitness with ‘PORTL’, a life-size interactive fitness mirror which assists you with workouts while also constantly monitoring you in order to provide you with personalised and relevant workouts only. Having marked 5500 confirmed orders, this mission began for the founding trio – Indraneel Gupta, Vishal Chandapeta and Armaan Kandhari – in 2021, and will soon be launched in the Middle East as well. Want to become the “third screee” in houses.
In hopes of making their fitness mirror the “third screen” in Indian houses, apart from one’s TV and mobile phone, the team needs an investment of Rs.1.5 crores for 1% equity. Further demonstrations reveal that when switched off, the product appears as a full body mirror, but as soon as it’s turned on, it transforms into the fitness portal.
With features like health vitals, PORTL fitness test, user preferences and interaction with the mirror, both the hardware and software of the AI mechanism has been developed by the team, which leads them to pricing at Rs. 1.25 lakhs. This straightaway brings Anupam to ask them as to why one would purchase such an expensive option when one’s mobile content can be casted on to the big TV screens as well.
The team informs the sharks about its USPs (unique selling proposition)- personalisation, that too at an extremely granular level so that it cover aspects like muscle loading, body curvature, etc., and depth sensors. Their former company was a 3D body scanning brand which brought about automatic body measurements in 3 seconds. Applying the same tech in their new mission, they want to market their innovation in India. Namita is flustered to hear of them of being shareholders in the previous company since that can lead to division of one’s attention. However, the team’s sole focus is on PORTL now, which eventually leads them to mention the high projected annual burns at the operation level.
Aman concludes by saying that brand awareness needs to be generated around the product in the country, and it can be promoted in the luxury market. Anupam then hands out an offer for Rs. 1.5 crores for 5% equity. Vineeta, too, deals out one with the debt and interest attached. Aman and Namita come together as a team to offer Rs. 1 crore for 2% equity and Rs. lakhs debt. The same is then joined by Peyush as well and the last deal is closed with three sharks – Namita, Aman and Peyush – at Rs. 1.5 crore for 2.5% equity.
1.25 lakhs price. USPs- personalisation, at an extremely granular level – muscle loading, body curvature etc. depth sensor, their old company was a 3d body scanning brand automatic body measurements in 3 seconds – depth sensing enclosure.
Shikha Aggarwal Sharma (SAS) walks in for the third and last pitch to promote her business ‘SAS Fat to Slim’, offering a range of diet and nutrition courses. In order to push her fitness venture, that pushes 80% focus to one’s diet and the remaining 20% is accorded to exercise, the founder of the company has an ask for Rs. 20 lakhs for 1% equity.
Her energetic and enthusiastic pitch has the sharks glued to their seat, just their smiles become a constant on their faces. Vineeta can’t have enough of her “Dhamakedar” presentation, and soon the stage is studded with wows all around as the ‘Fat to Slim’ founder shares her own transformation story.
However, somewhere along the way miscommunication conveys her regime to be excluding exercise from its routine despite having mentioned otherwise initially. And soon, the sharks catch on this aspect of her message and pick it apart thoroughly while also promoting talks about a healthy culture.
With 30+ franchisees of her mission open worldwide, Shikha Agarwal Sharma posits “the magic of kitchen spices” as the true winner in their game, which has also helped her customers control and be cured of PCOD and Diabetes. While Aman doesn’t miss out any of her tips, Namita just can’t accept the ‘no exercise’ label, being a fitness freak herself. Vineeta has the same inclination, and can’t see herself aligning with this agenda.
As the pitch continues, the founder of the company goes on about her team reels in the results and that their monthly plan range from Rs. 2500 – 3000. Namita still bring herself to agree with the fundamental foundations of this concept, and hopes for people to stop giving into these “gimmicky” ideas, but rather promote a healthy lifestyle which inculcates exercise.
Anupam pitches in his expertise in the matter and agrees that the founder can’t propagate the same packaged template that worked for her to everyone else too. Although she disagrees with this reductive analysis of her work, the sharks aren’t able to see eye to eye with her at all. Monthly sales are finally revealed to be standing at an amount of Rs. 14.5 lakhs for the month of August 2022, with 60% profit overall.
Peyush declares that she doesn’t even need an investment at this stage as her business would just be entrapped in the vicious ROI pressure cycle. Aman adopts Namita’s “no expertise” tag and moves out of the deal. On the other hand, Anupam, despite sharing an expertise in this domain, can’t side along with the business model.
Shark Tank India Season 2 episodes will bet broadcasted on Sony Entertainment Television and live-streamed on SonyLIV from Monday to Friday at 10 PM IST.
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