Business

Shark Tank India 2: Anupam Mittal opts out of funding a floral jewellery brand due to its wrong business pitch

admin February 3, 2023 55

Three different business pitches are presented to sharks in the latest episode of Shark Tank India 2. While two of them manage to get funding from sharks, there’s one that fails to win any investment. Anupam calls its branding and business pitch all wrong. Take a look at all the pitches made in the newest episode of the business reality show.In the latest episode of Shark Tank India 2, Divyarajsinh Bihola, Prajal Geeta Menon and Anitha Panikar introduce their brand of India’s smallest and most affordable electric tractor. They want to reduce the burden on small scale farmers. They share their tractors are compact, lightweight and 8 X more efficient than diesel tractors. They share their backgrounds and reveal what led them to start the company. The three call the sharks for a demo who enjoy the ride. They ask for Rs 75 lakhs for 7.5 percent equity.
Sharks feel its a good cause and understand the competition, making cost and capital expenses among other things. Aman Gupta offers them Rs 75 lakhs for 7.5 percent equity. Anupam Mittal instead offers Rs 1 crore and 10 percent equity from all 5 sharks. Amit gives an individual offer ie., Rs 1.5 crore for 20 percent equity. Namita Thapar opts out. Now it’s Amit vs Anupam, Aman and Vineeta Singh. The three founders come back with a counter offer of Rs 1 crore for 10 percent from all four sharks. That’s declined. Amit revives his offer to Rs 1 crore for 10 percent. The three pitchers take the three sharks deal.

Yaseer Ali and Nayyer Hussain introduce their brand of gelatos which is more of a B2B. They share their vision of scaling pre-packaged products. They want to make sweet Italian ice cream affordable for everyone. They reveal how the idea came to them. Both the founders were settled abroad in the US and Italy but when they came to India they felt it’s missing the good old gelato. They partnered with an award winning gelato chef in Italy and adapted recipes to cater to Indian taste buds. They call their ice creams premium but affordable. Aman and Amit question their pricing which is just Rs 60 for one scoop. Yaseer and Nayyer reveal they suffered during Covid-19 but decided to fight back and came up with a new business strategy. Their ask is Rs 75 lakhs for 4 percent.
Vineeta opts out. Amit feels there is more passion than business in this, he too decides not to invest. It’s the same with Namita who feels it will take a long time to scale and Aman who says they need someone who could make them understand the Indian market better. Anupam explains the problems in their business and opts out. However, both the founders ask Anupam if he’d change his mind if they meet their March target. Anupam in that case offers Rs 75 lakhs for 7.5 percent equity.

Next is Supriya Donthi who introduces her brand of India’s first floral keepsake jewellery brand. It’s made of preserved flowers, leaves and seeds (also called botanical jewellery). She boasts that many celebs have worn her jewellery. Her vision is to become the biggest botanical jewellery brand. She shares more about her background and her love for plants. She shows sharks her products. Vineeta loves the packaging. They all wear the jewellery. Namita asks the pricing and finds it too expensive for metal. She explains the process of preservation of the flowers and how there’s a story behind every piece. Her ask is Rs 50 lakhs for 2.5 percent equity. She shares her sales and profits which impresses sharks. Her repeat consumer is less. She assures in 5 years from now they will be a Rs 100 crore business.

Aman opts out due to scalability issues. Namita has issues with manufacturing that’s not in her control and opts out. It’s the same for Vineeta. Amit is unsure about how it can grow. He feels she doesn’t need sharks. Anupam says he is excited about the industry but her pitch is wrong. He feels the brand name is wrong. They should focus on being a clean jewellery brand and how it needs a strong storytelling in terms of content. He says when she has more clarity on all of this, she can come to him and he will fund it.