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<ul><li>Jyoti Bharadwaj founded a healthy drinks startup <keyword id="16020211" type="General" weightage="100" keywordseo="teafit" source="Orion">TeaFit</keyword> in 2021, and it has sold ₹15 lakh worth of products as of now. </li><li>TeaFit served over 20,000 customers through online and offline channels. </li><li>Bharadwaj walked away with a collective investment of ₹50 lakh for 8% equity from four sharks, <keyword id="246967" type="General" weightage="20" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword>, Peyush Bansal, <keyword id="127971" type="General" weightage="20" keywordseo="Anupam-Mittal" source="Orion">Anupam Mittal</keyword>, and Aman Gupta. </li></ul>A mompreneur from Mumbai, Jyoti Bharadwaj, left all the <keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> judges impressed with her beverage company, TeaFit. TeaFit produces zero-calorie healthy drinks made with natural herbs and ingredients, without sugar or a sweetener. Started in 2021, the brand offers Green Tea, Black Tea and Barley Tea, along with instant premixes. A fan of Shark Tank US and a mother of two young kids, Bharadwaj gave a sharp pitch, spouting off minute details about the product’s pricing and packaging. At the start of the pitch, she brought her two young children aged eight and five with her. They have been a part of her entrepreneurial journey, she told the judges. “I have watched every episode of every season of Shark Tank US many times over the years. I have replayed so many of the pitches in my mind - Scrub Daddy, Drink Poppi, Bantam Bagels, and many others. I am just so incredibly grateful to get a national platform to talk about TeaFit, why we do what we do and our vision for the future,” shared <a href="https://www.linkedin.com/feed/update/urn:li:activity:7016978429694636032/">Bharadwaj on her Linkedin</a>, four days before her Shark Tank India episode aired. <cmsannotation type="cmsannotation" annotationid="Startup’s value zooms from ₹2 cr to ₹6.25 cr" comment="subhead2" text="Startup’s value zooms from ₹2 cr to ₹6.25 cr">Startup’s value zooms from ₹2 cr to ₹6.25 cr</cmsannotation> After sampling her teas on the show, even Aman Gupta, boAt co-founder, who loves sugary drinks was left impressed. Bharadwaj initially asked for ₹50 lakh for 3% equity which valued the company at ₹16.67 crore. She said that TeaFit received a term sheet of ₹1 crore that valued her startup at ₹20 crore in convertible notes. A convertible note is a type of bond offered by companies, which can be converted later into equity. Sugar Cosmetics’ co-founder Vineeta Singh and Shaadi.com’s founder Anupam Mittal jointly gave the first offer — ₹50 lakh for 25% equity, which valued the company at ₹2 crore. Lenskart’s co-founder Peyush Bansal followed with an offer of ₹50 lakh for 20% equity, which raised its value to ₹2.5 crore. However, it was boAt co-founder Aman Gupta’s offer, of ₹50 lakh for 10% equity, that immediately doubled the valuation to ₹5 crore. Bansal, Singh and Mittal instantly responded that they would match Gupta’s offer. Bharadwaj sought a collective investment of ₹50 lakhs from all four judges, but for 8% equity. This valued the startup at ₹6.25 crore. The judges accepted this offer. <cmsannotation type="cmsannotation" annotationid="When mother-in-law turned investor" comment="subhead2" text="When mother-in-law turned investor">When mother-in-law turned investor</cmsannotation> After graduating from the Manipal Institute of Technology, Jyoti Bhardwaj who hails from Patna pursued an MBA in Finance and Marketing from the Indian School of Business (ISB). She worked with the startup UrbanFresh and real-estate portal Housing.com before starting her entrepreneurial journey with TeaFit. TeaFit got its first investment of ₹10 lakh from Bhardwaj’s mother-in-law, Dr Urmila Pandey. Her mother-in-law is a PhD holder and a former professor who had to give up her professional career due to family obligations. But she kept the spirit of financial independence and ambition alive in her daughters and daughter-in-law. The first commercial batch of TeaFit was launched in March 2021. Bharadwaj had signed up with national retail chains before going into production. Shortly after the launch, a second lockdown was imposed in India. Undeterred, Bharadwaj <a href="https://www.youtube.com/watch?v=-T1p3MXT4B8&amp;t=4s&amp;ab_channel=SellonAmazonIndia">partnered </a>with e-commerce giant Amazon. “As we got the product into the stores, the second lockdown started. Before the product could even reach the customers, the doors were closed,” shared Bharadwaj in a video with Amazon. In FY22, TeaFit made a profit of ₹78,000 from sales worth ₹15.5 lakh, with zero advertising spend. The startup forecasts that it will end FY23 with revenue to the tune of ₹45-₹55 lakh, based on the sales in July, August and September. “Over the last 12 months during subsequent batches, every single one of my fears has come true. Bottles came out distorted, filters got choked, entire batches were trashed, labels didn’t fit, long power cuts, over-brewing you name it. But you know what? We made it past every single one of them and have consistently produced world-class beverages batch after batch,” shared Bharadwaj a year after TeaFit started, in <a href="https://www.linkedin.com/feed/update/urn:li:activity:6899322380678701056/">an old LinkedIn post</a>. TeaFit has served over 20,000 customers through online and offline channels. As much as 35% of its sales come from online channels, while the remaining 65% come from offline channels. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/ex-senior-vp-of-paytm-former-ceo-of-tata-cliq-will-now-head-global-business-for-meta-india/slidelist/96878322.cms">From Tata CLiQ to Paytm to Meta India: the professional journey of Vikas Purohit</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/iqoo-11-vs-oneplus-11-smartphone-comparison-of-price-specification-and-features/slidelist/96876758.cms">New flagship phones iQOO 11 vs OnePlus 11 – specs and features compared</a>

Shark Tank S2: Sugar loving shark buys into no-calorie iced teas biz

Rejecting a ₹1 crore job offer to founding Sugar Cosmetics: Journey of shark Vineeta Singh

Financial services platform for startups <keyword id="14074636" type="General" weightage="100" keywordseo="strideone" source="Orion">StrideOne</keyword> on Tuesday said it has raised Rs 250 crore via a mix of equity (led by <keyword id="211885" type="General" weightage="80" keywordseo="elevar-equity" source="Orion">Elevar Equity</keyword>) and debt from banks. StrideOne, started by founders of venture debt fund <keyword id="9353689" type="General" weightage="50" keywordseo="stride-ventures" source="Orion">Stride Ventures</keyword>, introduced a startup-led credit distribution model for their supply chains and crossed AUM (asset under management) mark of Rs 200 crore in six months of inception across more than 20 anchor companies. It aims to reduce technological and financing gaps by leveraging the startups' existing ecosystem (vendors, suppliers) to provide credit related and other financial products such as tie-up finance, personal loans, etc. "We have been trying to innovate newer structures that would be further conducive to startups who are looking to expand and grow their businesses," said <keyword id="13803875" type="General" weightage="50" keywordseo="ishpreet-singh-gandhi" source="Orion">Ishpreet Singh Gandhi</keyword>, Founder, StrideOne. StrideOne, an NBFC licensed by the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>, said it leverages its team's expertise and deep-rooted understanding of the startup (anchor) ecosystem's financing need-gaps and their data on business performance and cash flows. StrideOne recently acquired tech firm EzCred platform and plans to make more tech-focused acquisitions in 2022. "The accelerated scale displayed by StrideOne reiterates the massive opportunity waiting to be unlocked in the extended startup ecosystem and we are excited to partner with them to bring it to life," said <keyword id="14074637" type="General" weightage="50" keywordseo="jyotsna-krishnan" source="Orion">Jyotsna Krishnan</keyword>, Managing Partner, Elevar Equity. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/startups/news/vineeta-singhs-sugar-cosmetics-raises-50-mn-as-it-plans-to-add-30000-stores/articleshow/91906537.cms">Vineeta Singh’s Sugar Cosmetics raises $50 million as it plans to add 30,000 stores</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/india/news/mango-production-down-by-80-in-up-due-to-abnormal-weather-conditions-say-growers/articleshow/91905401.cms">Mango production down by 80% in UP due to abnormal weather conditions, say growers</a>

StrideOne raises ₹250 crore to help reduce technological and financing gaps

<ul><li><keyword id="172535" type="General" weightage="100" keywordseo="cheesecake" source="Orion">Cheesecake</keyword> &amp; Co is a Delhi-based dessert startup producing eggless, baked cheesecakes. </li><li>In just a year of its inception, the startup has established a presence in Delhi, Bengaluru, Karnal, and Lucknow. </li><li>Both the founders and sharks entered into negotiations over equity stake, but neither budged from their stance. </li></ul>Many startups that appear on <keyword id="11924074" type="General" weightage="80" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> look for a deal where the sharks’ expertise, investment, and connections balance the dilution of equity. But for Cheesecake &amp; Co—the latest startup to appear on the show—the sharks’ offer wasn’t worth diluting equity. Cheesecake &amp; Co is a Delhi-based dessert startup producing eggless, baked cheesecakes. Founded by husband-wife duo Himanshu Gakhreja and Shreya Agarwal, Cheesecake &amp; Co started operations in 2021- though the idea first struck Gakhreja in 2018. “I took a resolve in 2018 and began working on Cheesecake. I dropped out in twelfth grade. Cheesecake is not just an art, it’s everything to me,” shared Gakhreja on the show. The founders asked for an investment of ₹1 crore for a 2% equity stake, which valued the startup at ₹50 crore. <cmsannotation type="cmsannotation" annotationid="A cheesecake made of love and a secret ingredient" comment="subhead2" text="A cheesecake made of love and a secret ingredient">A cheesecake made of love and a secret ingredient</cmsannotation> Gakhreja worked with a bakery company, Chawla Bakery for 2.5 years. After gaining an in-depth knowledge of cakes from the bakery, Gakhreja wanted to branch out on his own - but his father forbade him. Gakhreja’s father is a distributor of raw materials for bakery products. Where Gakhreja failed, his wife succeeded and she managed to convince her father-in-law to let Gakhreja follow his passion. Though convinced, Gakhreja’s father didn’t offer any help, monetary or otherwise, to help the two. In fact, to start his business, Gakhreja said on the show that he received ₹10 lakh from the owner of the bakery he first worked at. And that’s how Cheesecake &amp; Co. was born. Gakhreja worked on the recipe for years, trying to replace eggs with ingredients that weren’t as costly as regularly available alternatives. Currently, the startup uses a secret ingredient to replace eggs in the recipe, which the founders didn’t disclose on the show. “It (secret ingredient) is never made in (our) factories. Even today, it’s made from home and is even shipped to Bengaluru from Delhi,” claimed Gakhreja on the show, prompting Shaadi.com founder Anupam Mittal to compare the recipe to the secret formula of Coca-Cola. In just one year, the company opened 19 stores (physical outlets and cloud kitchens) - 17 in Delhi and 2 in Bengaluru. Since its appearance on <keyword id="1417364" type="General" weightage="20" keywordseo="shark-tank" source="Orion">Shark Tank</keyword> India, the startup has further <a href="https://www.instagram.com/p/Cn86LfjobzC/?hl=en">expanded </a>to Lucknow and Karnal. It primarily offers cakes, dessert jars, cheesecakes, and brownies. It generated sales worth ₹6 crore in FY22. Moreover, in just July 2022, the brand made sales worth ₹1.94 crore. And Gakhreja is also one of his father’s biggest customers. <cmsannotation type="cmsannotation" annotationid="Equity vs sharks" comment="subhead2" text="Equity vs sharks">Equity vs sharks</cmsannotation> The judges couldn’t stop praising the products after tasting them, with Lenskart co-founder Peyush Bansal even commenting that he wasn’t surprised at how well the startup was doing, considering the quality of the cake. However, Namita Thapar, executive director at Emcure Pharmaceuticals, was the first one to back out, because she believed that after a certain level, it would be difficult to scale a business of perishable products. <keyword id="246967" type="General" weightage="50" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword>, the co-founder of Sugar Cosmetics, also backed out because she didn’t think that cheesecake made for a huge market. On the other hand, boAt co-founder Aman Gupta expressed an interest but asked the founders about their requirements from the sharks and their investment expectations. Gakhreja responded that he wanted to shift from being a traditional merchandiser to a corporate setup and expand further. That’s when Shaadi.com founder Anupam Mittal made an equity-and-debt offer: ₹50 lakh for 5% equity, and a ₹50 lakh loan at a 15% interest rate. This valued the company at ₹10 crore. After hearing Mittal’s offer, Bansal backed out stating that while he was impressed by the founders’ humility and hunger for growth, he couldn’t better Mittal’s offer and so wouldn’t make one. Meanwhile, Gupta decided to join Mittal. However, the founders responded by asking the sharks to revise the offer to an investment of ₹1 crore for 3% equity, which had Gupta asking what really mattered to the founders. “Is your company’s 3% more valuable to you or an investment of ₹1 crore? Or do you value the sharks more?” asked Gupta. When Gakhreja responded that equity dilution and sharks are important to him, and they didn’t want a loan, Mittal remarked that 2% was the minimum equity stake that he would expect to hold in the company. The sharks revised their offer to ₹1 crore for a collective equity stake of 5% - 2.5% each to Mittal and Gupta. This valued the company at ₹20 crore. “I feel that you need help. My investor helped me when I needed it. Today, we’ll stand with you to help,” added Gupta. Though the founders tried to bring down the equity stake to 3.5%, the sharks didn’t budge - and neither did the founders. Ultimately, no deal was struck. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/beunic-on-shark-tank-india-closet-is-not-the-place-to-be-says-this-mom-who-built-an-lgbtq-community-marketplace/articleshow/97492557.cms">BeUnic: Closet is not the place to be says this mom who built an LGBTQ+ community marketplace</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/to-not-police-childrens-creativity-moms-create-child-friendly-art-products-find-investors-on-shark-tank-india/articleshow/97480472.cms">To not ‘police’ children’s creativity, moms create child-friendly art products &amp; find investors on Shark Tank India</a>

This cheesecake startup refused to give up a slice of its company for a lower valuation on Shark Tank India

<ul><li><keyword id="14170500" type="General" weightage="100" keywordseo="beunic" source="Orion">BeUnic</keyword> is an e-commerce and fashion marketplace that showcases lifestyle products created by queer entrepreneurs. </li><li>One of its founders, Simmi Nanda, was inspired by her son Aashish Chopra, to build a safe space for the LGBTQ+ community. </li><li>Though they failed to strike a deal, the founders’ story left the sharks visibly impressed. </li></ul>The core idea of <keyword id="11924074" type="General" weightage="80" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> is for its sharks to find investable startups and help them grow. However, BeUnic, the latest startup to appear on S2 of the show, left a mark on the judges despite failing to strike a deal. The inspiring story of its founders — the mother-sons trio of Simmi Nanda, Aashish Chopra and Vishesh Chopra left the sharks impressed. Started in 2019, BeUnic is a Delhi-based startup that functions as an e-commerce marketplace and fashion brand which curates and produces lifestyle products, from queer creators and entrepreneurs. “A mother has so many dreams for her son – he studies well, gets married and has children. I had these dreams too. But when I learned about Ashish’s sexuality, I was very saddened. I thought my dreams would never come true. But they’re just dreams. You can weave new ones. This was the beginning of my new journey,” shared Nanda on the show. While Nanda works on BeUnic full-time, Aashish works on it part-time. He has a full-time job in the HR department of Google. He’s worked with Philips and Amazon in the past. His elder brother, Vishesh, also has another business revolving around NFTs and cryptocurrency. The diversified interests of the founders led to the sharks backing out from investing in the brand, but Nanda’s story of accepting her child’s sexuality and starting a community left the panel visibly impressed. <cmsannotation type="cmsannotation" annotationid="‘Closet is not the place to be’" comment="subhead2" text="‘Closet is not the place to be’">‘Closet is not the place to be’</cmsannotation> A law graduate from Delhi University, Nanda shifted to Nagpur after her marriage and ran a business with ex-husband, selling dental and medical equipment. After 22 years of marriage, she divorced her husband. Consequently, she undertook multiple courses to ‘transform’ herself, including a course on public speaking. In 2016, she got to know through her sister and niece that her son, Aashish, is gay. Aashish was 19 at the time. Her first reaction was one of shock and hurt, and for four months she and Aashish were not on talking terms. Her elder son Vishesh educated her about the community and helped her process the information. Gradually, she came to the realization that this was normal and Aashish needed her support. “I thought I should help Aashish, he must have struggled enough already. Our public speaking mentor told us to deliver a speech that’s close to our hearts, in front of a group of 40-50 people. I prepared a speech for him (Aashish) and accepted him in front of everyone – Love them, hug them, and kiss them because the closet is not the place to be in,” shared Nanda on the show. Inspired by his own fondness for heels and the lack of inclusive footwear, Aashish started BeUnic as a gender-fluid and inclusive footwear brand. It expanded into an online marketplace after Aashish attended a conference in Bengaluru for LGBTQ+ entrepreneurs. He realized that most queer entrepreneurs sell their products primarily through social media channels like Instagram because setting up a website was costly and complex. Today, apart from footwear, BeUnic offers clothes, accessories, footwear, stationery, and home decor. It currently has 500 products from 26 creators, which have been shipped to 12 countries. The startup commissions designs from queer artists. It also uses models from the community to promote its products. “The other platforms are just selling merchandise. Our platform’s specialty is that we’re trying to build a community,” added Nanda. BeUnic generated sales to the tune of ₹20,000 in FY20. The following year, when the founders tried building a marketplace, Covid-19 impacted their business. BeUnic sold merchandise worth ₹1.25 lakh in FY21 and ₹50 lakh in FY22. <cmsannotation type="cmsannotation" annotationid="Too early to invest" comment="subhead2" text="Too early to invest">Too early to invest</cmsannotation> While all of the sharks were moved by the founders’ story, they saw little merit in investing in the startup. BoAt co-founder Aman Gupta was the first to back out, stating that BeUnic appeared to be a ‘side project’ for the founders. Sugar Cosmetics’ co-founder <keyword id="246967" type="General" weightage="50" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword> backed out stating that bringing together the two parts of BeUnic—community and commerce—would take 3-4 years and the startup was at a stage too early for her to invest in. <keyword id="544908" type="General" weightage="50" keywordseo="namita-thapar" source="Orion">Namita Thapar</keyword>, executive director at Emcure Pharmaceuticals, agreed with Singh. “If you can strengthen the community you’re building to reach sales worth ₹2-₹3 crore, then it can become an investable business. However, your (Simmi) journey has inspired me, and I believe, will inspire many other people,” remarked Thapar. Shaadi.com founder Anupam Mittal echoed Thapar’s sentiments about the founders’ story being incredibly inspiring while advising them to build a community app or network that could later be leveraged or converted into commerce. Lenskart co-founder Peyush Bansal, however, made an offer of ₹25 lakh for 25% equity, along with ₹75 lakh in debt on the condition that founders convert BeUnic from a marketplace to a D2C brand and work on it full-time. He even offered the founders to create BeUnic eyewear for Lenskart. “I’d like you to make eyewear for BeUnic too, and I’d sell that brand on Lenskart. If you wish to use the community to source your designs, I’ve no problem with it,” said Bansal. However, the founders declined the offer and walked away without a deal. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/to-not-police-childrens-creativity-moms-create-child-friendly-art-products-find-investors-on-shark-tank-india/articleshow/97480472.cms">To not ‘police’ children’s creativity, moms create child-friendly art products &amp; find investors on Shark Tank India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/iit-startup-solinas-integrity-working-to-end-manual-scavenging-in-india-wins-big-on-shark-tank/articleshow/97296983.cms">The IIT-Startup working to end manual scavenging in India wins big on Shark Tank</a>

BeUnic: Closet is not the place to be says this mom who built an LGBTQ+ community marketplace

<ul><li><keyword id="16271677" type="General" weightage="20" keywordseo="bullspree" source="Orion">Bullspree</keyword> is a stock market gaming platform that lets users participate in contests and win money by creating a portfolio of stocks.</li><li>‘Stock market ke fear ko fun me badalte hai,’ said co-founder Bavishi while inviting sharks to invest in the app.</li><li><keyword id="158171" type="General" weightage="20" keywordseo="Aman-Gupta" source="Orion">Aman Gupta</keyword>, co-founder of boAt and <keyword id="824423" type="General" weightage="20" keywordseo="Peyush-Bansal" source="Orion">Peyush Bansal</keyword>, CEO of Lenskart together made an offer for ₹75 lakh for 2.86% equity. </li></ul>It is not easy to earn money in the stock markets, mostly because very few people understand the nitty gritties of markets. An Ahmedabad-based startup Bullspree aims to educate people about market fundamentals through fun contests. Bullspree is a stock market gaming platform that lets users participate in contests and win money by creating a portfolio of stocks and competing with other users. Bullspree was co-founded by Harsh Dhanawat, Dharmil Bavishi, and Divyansh Mathur in November 2020. It is an experiential stock market gaming and learning mobile app that offers fun games about financial markets that can help users understand market dynamics better. “Stock market ke fear ko fun me badalte hai,” said co-founder Bavishi while inviting sharks to invest in the application in the second edition of <keyword id="1417364" type="General" weightage="20" keywordseo="shark-tank" source="Orion">Shark Tank</keyword>. The founders asked for ₹75 lakh investment from sharks for 1.5% equity at a valuation of ₹50 crore. Most sharks declined to invest in Bullspree on risky business nature While the presentation by the founders of the stock gaming platform impressed sharks, they refused to invest in the startup because of its risky nature of the business. <keyword id="127971" type="General" weightage="20" keywordseo="Anupam-Mittal" source="Orion">Anupam Mittal</keyword>, founder of Shaadi.com concluded that Bullspree is like a fantasy gaming platform. “You are Dream11 for financial stocks, fantasy trading ho gaya,” said Mittal. “Basically, we are an experiential learning platform jisse app well versed hote ho aur confidence build karte ho,” Bavishi responded. Sharks highlighted that their competitor StockGro is in a similar line of business. That may hamper the potential market share and growth in the future. <keyword id="246967" type="General" weightage="20" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword>, CEO of SUGAR Cosmetics and Namita Thapar, executive director at Emcure Pharmaceuticals were shocked that the startup’s valuation rose to ₹50 crore from ₹26.5 crore in February 2022. The startup said that it generated sales to the tune of ₹18.5 lakh with a gross transaction value of ₹90 lakh, in recent months. On a monthly basis, the company has been growing 100% as it tied up with colleges. Average revenue per paid user of the company has increased to ₹322 from ₹21 earlier, says Dhanawat on the reality show. Thapar declined to make an offer by saying there is no unique differentiator that Bullspree offers, as compared to its competitors. At the end, Aman Gupta, co-founder of boAt and Peyush Bansal, CEO of Lenskart together made an offer for ₹75 lakh for 2.86% equity at ₹26.22 crore valuation. The offer was accepted by the founders. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-enterprises-20000-crore-fpo-now-open-analysts-maintain-cautious-optimism/articleshow/97369358.cms">Adani Enterprises’ ₹20,000 crore FPO now open, analysts maintain cautious optimism</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-group-companies-lose-3-22-lakh-crore-in-market-value-amidst-tussle-with-hindenburg-research/articleshow/97374612.cms">Adani Group companies lose ₹3.22 lakh crore in market value amidst tussle with Hindenburg Research</a>

An app that wants to turn fear of stock markets into fun raises ₹75 lakh from sharks

<ul><li><keyword id="16051550" type="General" weightage="100" keywordseo="paradyes" source="Orion">Paradyes</keyword> claims to be India’s first semi-permanent hair colour brand that offers hair colours that last for 8-10 washes. </li><li>Peyush Bansal called it a business that can create a category. </li><li>Paradyes founders received many lucrative offers, but accepted a lower offer to bring the right sharks into their company – <keyword id="246967" type="General" weightage="50" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword> and Aman Gupta. </li></ul>Few products pitched on Shark Tank Season 2 courted as much attention from the sharks as Paradyes — India’s first semi-permanent hair colour brand. Inspired by her own experiments with hair colouring, 26-year-old <keyword id="16064005" type="General" weightage="80" keywordseo="yushika-jolly" source="Orion">Yushika Jolly</keyword> launched Paradyes in March 2021 with her husband, Siddharth Raghuvanshi. Based out of Ahmedabad, Paradyes aims to break myths surrounding hair colour, and go beyond the limited options (primarily browns and reds) available in the market. “There are several myths about the damage that colouring might cause to your hair. We are here to inform our customers and audience about how they can experiment and style their hair without damaging them! Our products are Ammonia-free, Paraben-free, PPD-free, and damage-free,” <a href="https://www.birdsofparadyes.com/pages/our-story">states </a>the company website. In 2019, when the idea for the product first came to Jolly, her brother helped her with the R&amp;D. Jolly’s family is responsible for manufacturing the core raw material and chemicals used globally in hair colour products, and has a turnover of nearly ₹800 crore. Currently, Paradyes provides over 20 hair colours that are affordable, easy-to-apply, safe and don’t require a ‘long-term commitment’. The colour lasts for 8-10 washes, the founders claim. The founders also shared that they aim to expand into the permanent and temporary hair colour categories in the future. Paradyes’ products are currently available on the company website, in online marketplaces like Amazon and Flipkart. They are available offline in over 35 Health &amp; Glow stores. Paradyes has over 80k <a href="https://www.instagram.com/birdsofparadyes/?hl=en">followers on Instagram</a>. <cmsannotation type="cmsannotation" annotationid="Founders receive a rainbow of lucrative offers" comment="subhead2" text="Founders receive a rainbow of lucrative offers">Founders receive a rainbow of lucrative offers</cmsannotation> Jolly, who holds a Bachelor's degree in design from NIFT, is responsible for marketing, packaging and design. Raghuvanshi, who holds an MBA degree from Symbiosis, looks after the financials and operations. The startup raked in sales to the tune of ₹3.5 crore in FY22. Furthermore, it saw a consistent increase in monthly sales (before the episode was shot) — from ₹35 lakh in July to ₹51 lakh in September. The founders asked for an investment of ₹65 lakh for 1% equity, which valued the company at ₹65 crore. Paradyes left the sharks impressed with a robust supply chain and on-brand marketing. It was dubbed a ‘category-creation business’ by Lenskart cofounder, Peyush Bansal. He started the bidding war with an offer of ₹65 lakh for 5% equity, valuing the company at ₹13 crore. This was followed by a joint offer by Shaadi.com founder Anupam Mittal and Sugar Cosmetics cofounder Vineeta Singh, who asked for 4% equity for the same amount, raising the valuation to ₹16.25 crore. Aman Gupta, co-founder of boAt, was the last one to make an offer. While he offered the same terms as Bansal, i.e. ₹65 lakh for 5% equity, he added that he would love to collaborate with Singh. <cmsannotation type="cmsannotation" annotationid="Rejecting a higher offer for the right sharks" comment="subhead2" text="Rejecting a higher offer for the right sharks">Rejecting a higher offer for the right sharks</cmsannotation> After receiving multiple lucrative offers, the founders made an unexpected demand — they requested ₹65 lakh for 3% equity, but from Vineeta Singh and Aman Gupta. Bansal commented that Singh’s company, Sugar Cosmetics, was actually a competitor for Paradyes — a claim that Singh vehemently denied, stating there is a wide difference in the hair products and makeup or cosmetics. Bansal’s offer of ₹65 lakh for 3% equity was matched by Singh and Mittal, with Gupta also joining the two. Bansal rallied on with a counter offer of ₹65 lakh for 1% equity — the original ask by the founders. Gupta offered more than money to the founders. “We’re here to support you. In no other category has an Indian brand pushed out foreign brands from the India market but we (boAt) have. We know how to fight them. Now decide, if you need value or valuation!” commented Gupta. In less than five minutes, the startup’s valuation zoomed from ₹13 crore to ₹65 crore. The overwhelmed founders said that Singh and Gupta had the kind of experience they were looking for. This left a sour taste in Mittal’s mouth — who backed out, stating he doubted the founders’ integrity. Ultimately, Gupta and Singh jointly made an offer of ₹65 lakh for 2% equity, valuing the company at approximately ₹32.5 crore. The founders accepted it even though they had a higher offer from Bansal. <cmsannotation type="cmsannotation" annotationid="‘Dirty game was played, breaking the alliance’" comment="subhead2" text="‘Dirty game was played, breaking the alliance’">‘Dirty game was played, breaking the alliance’</cmsannotation> While Bansal remarked to the founders that it wasn’t the right choice, the founders clarified to both Mittal and Bansal that their intention was never to offend the sharks. “What happened here was that you got to nitpick over what you wanted. And your valuation was raised instantly. But a dirty game was played here — breaking an alliance between two sharks, as Aman and Vineeta did. And then what you did. It was a little messy and dirty,” commented Mittal. At that time, Namita Thapar, executive director at Emcure Pharmaceuticals commented that the founders had every right to choose from the multiple offers available to them. “Let them (founders) do what they think was the right choice for them — why do you have to make them feel guilty about it?” remarked Thapar, who had backed out from investing right at the start. Meanwhile, till the end, Bansal stuck to his guns that Singh’s Sugar Cosmetics would prove to be a competition for Paradyes. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/trumps-company-fined-1-6-million-for-tax-fraud/articleshow/96982732.cms">Trump's company fined $1.6 million for tax fraud</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrencies-equivalent-to-gambling-rbi-governor/articleshow/96982894.cms">Cryptocurrencies equivalent to gambling: RBI Governor</a>

Colour them impressed: A startup so good that sharks had to pitch their expertise to founders

<ul><li>Ganesh <keyword id="79029" type="General" weightage="80" keywordseo="balakrishnan" source="Orion">Balakrishnan</keyword>, the co-founder of <keyword id="16008024" type="General" weightage="20" keywordseo="flatheads-shoes" source="Orion">Flatheads Shoes</keyword> received an offer that valued his company at ₹2.25 crore from two sharks on <keyword id="11924074" type="General" weightage="100" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> S2. </li><li>Balakrishnan, who had earlier invested personal money to keep the venture afloat, rejected the offer. </li><li>The shoe business that started right before the pandemic ran into trouble as lockdowns forced people to stay indoors. </li><li>After the episode aired last Friday, the startup managed to sell off its entire inventory over the weekend, Balakrishnan said on social media. </li></ul>Last Friday, Shark Tank India S2 aired the season’s most emotional episode when Ganesh Balakrishnan made a pitch for his venture, Flatheads Shoes. The startup <a href="https://www.linkedin.com/in/ganeshbalakrishnan/">creates </a>‘all-day casual shoes for the urban workforce’ priced between ₹1,000-₹5,000 a pair. It also <a href="https://www.flatheads.in/">offers </a>India’s first linen sneakers, and the world’s first banana fibre sneakers. At the time Balakrishnan’s episode was shot, his company was on the verge of a shutdown. He said <a href="https://www.sonyliv.com/shows/shark-tank-india-1700000741/investing-in-the-future-of-india-1000203475?watch=true">on the show </a>that he personally invested ₹35 lakh to keep the business afloat, in the last two months. His co-founder Utkarsh Biradar, who helped design the shoes, too invested the same amount. Biradar exited the startup in 2022 but still holds 30% equity. In spite of his mounting troubles, Balakrishnan rejected the only deal he received on the show. Sharks Peyush Bansal (co-founder, Lenskart) and <keyword id="246967" type="General" weightage="50" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword> (co-founder, Sugar Cosmetics), offered ₹75 lakh for 33.3% equity in the company. The offer values the company at ₹2.25 crore. Balakrishnan had asked for a valuation of ₹25 crore as its company generated sales to the tune of ₹3.4 crore in FY22. The company had raised ₹5.2 crore in April 2021, at a pre-money valuation of ₹28 crore, from angel investors. Pre-money valuation refers to the value of a startup that does not include external funding – basically a startup’s value before it raises funds. <cmsannotation type="cmsannotation" annotationid="Once in a generation troubles" comment="subhead2" text="Once in a generation troubles">Once in a generation troubles</cmsannotation> Balakrishnan started Flatheads Shoes in 2019, right before the pandemic struck. In less than a year, the company had no customers - as India stayed indoors, people barely needed shoes, much less urban workwear. “It’s not that I can’t run a company. I am capable of it. Thing is, when you step into the market and for 4 months nobody is wearing shoes, because nobody is stepping out only - such situations arise once in generations. And it happened to us,” said Balakrishnan on the show. He also said that angel investors were not willing to invest further in the business. <cmsannotation type="cmsannotation" annotationid="‘Need to evaluate my priorities in life’" comment="subhead2" text="‘Need to evaluate my priorities in life’">‘Need to evaluate my priorities in life’</cmsannotation> Even as he rejected the offer, Balakrishnan admitted that he needed to change his perspective, re-evaluate his priorities, and gain more experience before entering the D2C market. “I need to evaluate my priorities in life right now. I will go out there and work with a D2C brand and understand how to do this before I come back and try again. I need a couple of years. But that perspective needs to be built. And the best way to build it is to work with somebody who’s done this before,” said Balakrishnan on the show. Balakrishnan’s emotional admission left all the judges teary-eyed, with Shaadi.com’s founder Anupam Mittal remarking, “Shark Tank is not just about getting funding, but also perspective.” <cmsannotation type="cmsannotation" annotationid="Every tear has a silver lining" comment="subhead2" text="Every tear has a silver lining">Every tear has a silver lining</cmsannotation> When Balakrishnan pitched on the show, most of the Sharks asked him to shut down the business and instead, look to make a living through a regular job, leveraging his educational qualifications and work experience. While boAt’s founder Gupta shared his personal experience of going down the same road, Mittal even offered him a job. Shortly after the episode aired though, Flatheads Shoes trended on social media and consequently received enough orders that it almost sold out its inventory in India. “We've almost sold out our inventory in India, so pardon us if you aren't able to find your size on www.flatheads.in,” shared <a href="https://www.linkedin.com/feed/update/urn:li:activity:7017678455685226496?updateEntityUrn=urn%3Ali%3Afs_feedUpdate%3A%28V2%2Curn%3Ali%3Aactivity%3A7017678455685226496%29">Balakrishnan on his LinkedIn account</a>. The product is featured on the Shark Tank India website. The brand also has international ambitions. It launched its products in the US in October 2021 and plans to expand its international market in the US and UAE. As Balakrishnan admitted on the show, Flatheads enjoys a ‘price advantage’ in the US because people are willing to pay a premium price for a sustainable product. <cmsannotation type="cmsannotation" annotationid="The serial entrepreneur" comment="subhead2" text="The serial entrepreneur">The serial entrepreneur</cmsannotation> After graduating as a mechanical engineer from IIT Bombay in 1999, Balakrishnan worked with an industrial technologies MNC Ingersoll-Rand International (India) for five years, before pursuing an MBA degree from IIM, Bangalore. He worked with Bain &amp; Company and Honeywell, before starting his entrepreneurial journey in 2013 with Windsleeve, a retail technology product company, and Momoe, a mobile payments product company. While Windsleeve shut down in a year, Momoe ran for three years, before being acquired by Shopclues in 2016, in a cash and stock deal. In 2019, Balakrishnan entered the startup space again with Flathead Shoes, inspired by his personal experience of dealing with reeking and ill-fitting shoes. Balakrishnan is married and has a 10-year-old daughter. Currently, his household income is managed by his wife, who’s working with a German company. His daughter is an artist who also wants to be an entrepreneur and is already taking orders for calendars created with her paintings. “Did I mention that my 10-year-old daughter wants to be an entrepreneur? She says she is a fan of Peyush's no-nonsense mindset, and I know that she admires Vineeta for her cheerfulness and positivity. She is super proud that I managed to get an offer from both of them,” stated Balakrishnan <a href="https://www.linkedin.com/feed/update/urn:li:activity:7017678455685226496?updateEntityUrn=urn%3Ali%3Afs_feedUpdate%3A%28V2%2Curn%3Ali%3Aactivity%3A7017678455685226496%29">on his LinkedIn post</a>. His perseverance and honesty on the show left the Shark Tank India panel and the audience so impressed, that the admiration translated into sales. <div type="twitter" handle="AbstractAkarsh" handlename="Akarsh hp" image="http://pbs.twimg.com/profile_images/1608027655529730050/ZdAybBsg_normal.jpg" favoritecount="75" retweetcount="4" status="The #Flatheads pitch in #SharkTankIndia was one of the best I've seen across two seasons. Emotional. Real. Uplifting." createdat="1673025864000" id="1611413387547938816"></div> <div type="twitter" handle="dssagar93" handlename="Sagar Khatri 🇮🇳" image="http://pbs.twimg.com/profile_images/1508142401172385794/MMugvnlw_normal.jpg" favoritecount="20" retweetcount="0" status="This #Flatheads guy is so genuine and transparent with his story and failures. Saying that you couldn't make it wit… https://t.co/rjcGdmhUCo" createdat="1673026813000" id="1611417367736877056"></div> <div type="twitter" handle="banerjee_bapi" handlename="Bapi Banerjee" image="http://pbs.twimg.com/profile_images/975719104953962496/N_213Fro_normal.jpg" favoritecount="7" retweetcount="0" status="Nothing but respect for you. To be honest on the national television, it takes courage. And I am sure you will boun… https://t.co/3KSiXtM62Q" createdat="1673078555000" id="1611634388642729984"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/india-vs-sri-lanka-odis-2023-match-date-and-time-head-to-head-stats-and-more/slidelist/96849348.cms">India vs Sri Lanka ODIs 2023 – match date and time, head-to-head stats and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/health-edtech-platform-virohan-raises-7-million-in-funding-led-by-blume-ventures/articleshow/96849208.cms">Health edtech platform Virohan raises $7 million in funding led by Blume Ventures</a>

This IIT-IIM startup founder denies Shark Tank offer, sells his entire inventory over the weekend

<ul><li>47-year-old Geeta Patil runs a homemade snacks business in Mumbai in partnership with her son, Vinit, and his friend, Darshil Savla. </li><li><keyword id="15957848" type="General" weightage="100" keywordseo="patil-kaki" source="Orion">Patil Kaki</keyword> received offers from four of the five sharks on <keyword id="11924074" type="General" weightage="80" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> S2 - <keyword id="246967" type="General" weightage="50" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword>, <keyword id="824423" type="General" weightage="50" keywordseo="peyush-bansal" source="Orion">Peyush Bansal</keyword>, Anupam Mittal, and Aman Gupta. </li><li>Patil Kaki accepted the offer by Bansal and Mittal who invested ₹40 lakh for 4% equity. </li></ul>In its second season, Shark Tank India has seen all kinds of pitches but that of Patil Kaki, a homemade snacks business, sent four of the five judges into a bidding war. This six-year-old business that started in a 200 square feet kitchen in Mumbai is run by 47-year-old Geeta Patil with two 21-year-old partners – her son Vinit Patil, and his friend Darshil Savla. While Geeta Patil, who runs the eponymous business, has been making and selling snacks ever since her husband lost his job in 2016, it’s the younger partners who gave it a digital spin. Vineet Patil and Savla are college dropouts, who at one point, set up and ran a small IT services business. They set up <a href="https://patilkaki.com/">a website for Patil Kaki </a>helping scale up the business from 15-20 orders a day to around 3,000 orders monthly, as per <a href="https://www.thebetterindia.com/286270/mom-sells-authentic-maharashtrian-food-in-mumbai-pune-earns-crores/">reports</a>. Her chaklis, modaks, chivdas, puran poli, and even healthy snacks like makhanas which are now well-packaged well, branded, and available online – generated sales to the tune of ₹1 crore in the first five months of FY23 – as of August 2022 when the Shark Tank episodes were recorded. They hope to end the financial year with sales to the tune of ₹3 crore. “They are the emerging faces of New India. Even two years haven’t passed (since the young partners joined the business), they’ve helped you to make a business worth ₹3 crore,” commented shark and Shaadi.com’s founder Anupam Mittal after hearing their pitch on the show. <cmsannotation type="cmsannotation" annotationid="The bidding begins" comment="subhead2" text="The bidding begins">The bidding begins</cmsannotation> Patil Kaki’s products and business impressed the judges so much that the sharks were fighting for a piece of its pie. It culminated in a bidding war that saw the startup’s valuations more than double within a matter of minutes. Sugar Cosmetics CEO Vineeta Singh was the first to offer ₹40 lakh for 10% equity that valued Patil Kaki at ₹4 crore. Soon after, Aman Gupta, the co-founder of boAt, trumped it by doubling his offer — ₹40 lakh for 5% equity, valuing it at ₹8 crore. Lenskart’s co-founder Peyush Bansal and Shaadi.com’s founder Anupam Mittal then made an offer that Kaki couldn’t refuse — ₹40 lakh for 4% equity that valued it at ₹10 crore. Gupta too matched their offer and wanted to be a solo investor in the company but the Patil Kaki founders accepted the Bansal and Mittal’s joint offer. <cmsannotation type="cmsannotation" annotationid="Inspired by her ‘aai’" comment="subhead2" text="Inspired by her ‘aai’">Inspired by her ‘aai’</cmsannotation> Geeta Patil started selling homemade food after she was inspired by her own aai or mother who whipped up tiffins for 20 people every day, <a href="https://www.thebetterindia.com/286270/mom-sells-authentic-maharashtrian-food-in-mumbai-pune-earns-crores/">reports </a>The Better India. She had been making and selling food out of passion before 2016. But afterwards, she converted it into a proper business as she had to shoulder the responsibility of running the household. “I couldn’t afford to take it easy any longer. The first order came from a family in Khar. The best part is that even today, we get orders from them regularly,” shared Geeta with The Better India. Slowly, she started getting orders from offices too. However, it was the pandemic that pushed her to prepare and sell dry snacks too. “We started by serving breakfast at the BMC office. Impressed by our cooking, the employees got a letter from the ward office, allowing us to serve them at the office. However, when the lockdown started, the problems started again. That’s when I started with snacks like chakli, chivda, etc,” said Patil on the show. To cater to the growing business, the team took up a 1,200 sq ft space in Santacruz. Patil Kaki hired its first employee in 2019 and now has a team of <a href="https://patilkaki.com/about-us/">25 people</a>. It claims that 75% of its workforce consists of women who’re working for the first time. <cmsannotation type="cmsannotation" annotationid="Investors bite into snacks businesses" comment="subhead2" text="Investors bite into snacks businesses">Investors bite into snacks businesses</cmsannotation> Foodtech industry has been one of the fastest-growing businesses amongst startups. Even public market investors have taken a shine to two snacks companies that listed on the stock markets late last year. Both the companies – <a href="https://www.businessinsider.in/stock-market/news/bikaji-stocks-why-investors-continue-to-snack-on-this-stock/articleshow/95757704.cms">Bikaji Foods</a> and Annapurna Swadisht raised ₹881 crore and ₹30 crore respectively via public offers. They also received strong investor response for the offers in the form of subscriptions, and also provided listing gains to their investors. Uniquely both these snack companies are skewed heavily towards Indian snacks. Bikaji, that’s endorsed by Amitabh Bacchan, is known for its namkeens like Bhujiya, Jalmuri and sweets like Kaju Katli and more. Kolkata-based Annapurna Swadisht is known for sweets like Gohona Bori in addition to chivdas, chips, and more. SEE MORE: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/glass-free-3d-oled-laptop-to-portable-laser-tv-heres-a-look-at-all-futuristic-imaging-and-display-tech-at-ces-2023/articleshow/96789252.cms">Glass-free 3D OLED laptop to portable laser TV: Here’s a look at all futuristic imaging and display tech at CES 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/shark-tank-india-gear-head-motor-rides-high-secures-funding-from-aman-gupta-and-peyush-bansal/articleshow/96785906.cms">Shark Tank India: Gear Head Motor rides high, secures funding from Aman Gupta and Peyush Bansal</a>

An aai and two college dropouts’ home snacks biz sends Shark Tank judges into a bidding war

The business reality show '<keyword id="11924074" type="General" weightage="100" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> 2' offers a platform for entrepreneurs with scalable, sellable business ideas. From Paithani sari brand owner impressing the <keyword id="6785521" type="General" weightage="80" keywordseo="sharks" source="Orion">sharks</keyword> with her story, struggle, and setting an example for women entrepreneurs, to Stage, an OTT platform in local Indian dialects that provides employment to over 1,000 Haryanvi artists. But what has grabbed the eyeballs of viewers is a pitch for which the sharks offered Rs 5 crore. The promo has raised curiosity levels by not showing the pitch, but one of the judges, CarDekho.com co-founder and CEO <keyword id="30126" type="General" weightage="80" keywordseo="amit-jain" source="Orion">Amit Jain</keyword>, said: "5 crore 5 per cent." Shaadi.com founder and CEO Anupam Mittal heightens the excitement by adding: "Biggest offer on 'Shark Tank India'." The caption reads: "Who are these pitchers and why are the Sharks offering them ₹5 crore?" Indeed, it is a lucrative offer, but the identity of the beneficiary and the pitch that attracted it will become known only in the coming episode of reality show. 'Shark Tank India' features six sharks: Anupam Mittal (founder and CEO, Shaadi.com - People Group), Aman Gupta (co-founder and CMO, boAt), Namita Thapar (executive director, Emcure Pharmaceuticals), <keyword id="246967" type="General" weightage="50" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword> (co-founder and CEO, SUGAR Cosmetics), <keyword id="824423" type="General" weightage="50" keywordseo="peyush-bansal" source="Orion">Peyush Bansal</keyword> (founder and CEO, Lenskart.com) and Amit Jain (CEO and co-founder, CarDekho Group, InsuranceDekho.com). 'Shark Tank India' airs on Sony Entertainment Television. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/peyush-bansal-and-aman-gupta-invested-1-crore-in-hoovu-know-all-about-this-floral-startup/articleshow/96730114.cms">Shark Tank India judges Peyush Bansal and Aman Gupta invest in Hoovu Fresh - Here’s all about this floral startup</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/nadella-advocates-using-tech-to-drive-inclusivity-and-making-a-difference-says-microsoft-very-committed-to-india/articleshow/96730670.cms">Nadella advocates using tech to drive inclusivity and 'making a difference', says Microsoft 'very committed' to India</a>

CarDekho founder Amit Jain offers ₹5 crore for a pitch on 'Shark Tank India'

'<keyword id="1417364" type="General" weightage="80" keywordseo="shark-tank" source="Orion">Shark Tank</keyword>' judge Namita Thapar, on Tuesday, reacted to the social media trolling for not investing in Vineeta Singh's competitor brand. Taking to Twitter, Namita wrote, "Being a <keyword id="6533612" type="General" weightage="100" keywordseo="shark" source="Orion">shark</keyword> doesn't mean we are not entitled to our independent values &amp; speaking candidly so if I don't invest in a fellow sharks competition, that's me, no regrets &amp; if I call out toxicity &amp; don't join the ignorant that celebrate people w lack of integrity.. that's me :)." The second season of the popular show '<keyword id="11924074" type="General" weightage="80" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword>' started on January 2 and it seems like just after the first episode was telecasted, the show fell into a fresh controversy. During the first episode, all the sharks got impressed by the pitch from a makeup brand, despite of that the pitch was rejected by the sharks mainly because it was a competitor brand to Vineeta Singh's, <keyword id="7433188" type="General" weightage="50" keywordseo="sugar-cosmetics" source="Orion">Sugar Cosmetics</keyword>. "Shark Tank <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> Season 2 made it clear that it is a friendship club of rich people sitting there to demotivate hard-working individual businesses who make 'profits'. Utterly ridiculous, never saw anything of this sort happening in the US Version ever," a user wrote on Twitter. Another user wrote,"@amangupta0303 and @namitathapar gave a pathetic excuse for not investing in Recode Show name must be friendship tank of India not Shark tank India Promoting monopoly in the name of friendship." The show is based on the popular concept of the show of the same name - Shark Tank USA. It launched its first season in December last year. Apart from Namita and Vineeta, sharks from the previous season Aman Gupta and Anupam Mittal are also a part of this season along with the new shark on the panel Amit Jain. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/amit-jain-offers-5-crore-for-a-pitch-on-shark-tank-india/articleshow/96734767.cms">Amit Jain offers ₹5 crore for a pitch on 'Shark Tank India'</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/here-are-the-most-bizarre-pitches-on-shark-tank-india-season-1/articleshow/96735850.cms">Belly button shaper to ayurvedic ice cream — here are the most bizarre pitches on Shark Tank India</a>

You Searched For "vineeta singh sugar" and got 11 results

Shark Tank S2: Sugar loving shark buys into no-calorie iced teas biz

Srishti Magan

Rejecting a ₹1 crore job offer to founding Sugar Cosmetics: Journey of shark Vineeta Singh

StrideOne raises ₹250 crore to help reduce technological and financing gaps

IANS

This cheesecake startup refused to give up a slice of its company for a lower valuation on Shark Tank India

Srishti Magan

BeUnic: Closet is not the place to be says this mom who built an LGBTQ+ community marketplace

Srishti Magan

An app that wants to turn fear of stock markets into fun raises ₹75 lakh from sharks

Bhakti Makwana

Colour them impressed: A startup so good that sharks had to pitch their expertise to founders

Srishti Magan

This IIT-IIM startup founder denies Shark Tank offer, sells his entire inventory over the weekend

Srishti Magan

An aai and two college dropouts’ home snacks biz sends Shark Tank judges into a bidding war

Srishti Magan

CarDekho founder Amit Jain offers ₹5 crore for a pitch on 'Shark Tank India'

IANS

2-0 Shark Tank India: Namita Thapar slams trolls over rejecting pitch of competitor's brand

ANI

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