Shark Tank India Season 2 Episode 3 Pitches and Offers
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Shark Tank India Season 2has officially returned for its much-awaited season 2, and the third episode already aired on the 4th Jan 2023.
Although there are a few changes in the faces, such as Rannvijay Singha has been replaced by Rahul Dua and Ashneer Grover Ex MD of Bharat Pe, who was in Shark Tank Season 1, being replaced by Amit Jain, who is the Co-Founder & CEO of CarDekho Group and InsuranceDekho.com.
The new season features the rest of the 5 judges as before:
Anupam Mittal, CEO of Shaadi.com and People Group.
Aman Gupta, Co-Founder and CMO of boAt.
Namita Thapar, Executive Director of Emcure Pharmaceuticals
Vineeta Singh, Co-Founder and CEO of SUGAR Cosmetics.
Peyush Bansal, Founder and CEO of Lenskart.com
In the third episode of Shark Tank Season 2, we have seen a total of 3 pitches and here are the offers given by the Sharks on those.
#WatchNow Ariella Blank & Rebekah Sood created #AtmosphereKombucha to help people avoid gut-related issues! Will the Sharks invest in this health-drink brand?
The first pitch of episode 3 starts with the pitch of American-turned-Indian citizens Rebekah and Ariella, who have formed a company named Atmosphere Kombucha.
The company sells healthy Kombucha juices, and the duo have enlisted all female employees in their company to increase the female workforce in India.
Their ultimate goal is to eliminate all the gut-related problems which trouble our Indian families.
Their ask was 75 lakhs for 3% equity with a valuation of 25 crores because of their sales of 1 crore per annum, from which 40% comes from the online market, 20% from retailers and 30% from cafes, their ask for 75 lakhs was to create a manufacturing unit to create and distribute the drinks faster.
Only Anupam was interested in the deal, as he offered 30 lakhs for 10% equity and 40 lakhs debt with a 12% interest rate.
Still, Rebekah and Ariella countered Anupam with 75 lakhs for 8% equity, but as Anupam was unwilling to revise his offer, the deal didn’t go through.
Last episode of #SharkTankIndiaS2 was high on drama as it saw some inspirational stories. Apart from 2 American women co-founders who built a company in India from scratch, what caught sharks’ attention was hyperlocal OTT platform, STAGE. @BhavyaKaushal2https://t.co/eyVm3AUCVl
Shashank, Parveen and Vinay from STAGE, an OTT platform which generally distributes local language content across India.
Starting in 2019, the Platform has 1 lakh+ subscriber and 1000+ Haryanvi content creators enrolled, who got jobs because of STAGE.
The Founder’s ask was 3 crore rupees for 1% equity, the makers were also the Founder of WittyFeed, the second biggest website after BuzzFeed, back in 2014, but because of Cambridge Analytica, their page got de-platformed in 2018.
But they still have hope, they started the new company in 2019 and worked hard, and so far, they have created more than 1000+ original content and given jobs to local content creators.
Adding to that, the cost of creating a web series is just a mere 20 lakhs which are far lesser than the tv shows we generally see on Netflix and Sony Liv.
They already have 3 rounds of investment which was 10 crores in 2020, 20 crores pre-money, then 80 crores in 2021 and 36 crores in 2022.
Peyush, Namita and Aman decided to match their valuation as per the prior investment and offered them 1.5 crores for 0.6% equity and 1.5 crores as debt with an 18% interest rate, which the founders agreed upon and the deal was closed.
The last pitch was from the founders of Girgit, a clothing brand by Pooja Bajaj Shah and Benoy Shah.
The company generally produces colour-changing shoes, T-shirts, and bottles for kids and adults.
#WatchNow With #Girgit, Pooja Bajaj Shah & Benoy Shah have created India's first color changing apparel brand! Will the Sharks seal the deal with them?
Although the Shoe prices stand a bit expensive as they had good sales (58 lakhs in total) with high gross margins of 79%, because of which Namitha Thapar showed interest in the deal and offered 20 lakhs for 20%, Pooja and Benoy countered Namita’s offers by 20 lakhs for 15% which was expected and the deal was closed.