Shark Tank India Season 2 has been a roller coaster ride for budding entrepreneurs who’ve been brave enough to take the plunge and showcase their business ideas to the panel of ‘sharks’. The show has seen many interesting ideas come and go, but the most impressive of them all have been the ones that have managed to bag an “all-shark” deal.
An “all-shark” deal is a rare occurrence in the show, where all the five ‘sharks’ on the panel – Amit Jain, Peyush Bansal, Namita Thapar, Aman Gupta, Vineeta Singh and Anupam Mittal – come together to invest in an idea. This means that all the ‘sharks’ are equally interested in the business idea and are willing to put their money where their mouth is.
So, let’s have a look at the brands that got “all-shark” deals.
Snitch
In the January 27 episode of Shark Tank India Season 2, we witnessed all five Sharks coming together for the first time in the season to invest in a garment brand. Siddharth Dungarwal, the founder of the brand, called his brand ‘India’s fastest-growing fashion brand for men’. And revealed how his brand, Snitch was the first one to launch coord sets for men. The Sharks were impressed by Siddharth’s presentation and hence offered him an all-shark deal.
Siddharth Dungarwal, CEO of Snitch stated, “It was more towards the value these sharks would get rather than chasing valuation. I was sure that either I’m gonna take all 5 or none. That was something in the back of my mind, and I made it very clear from the start of the pitch itself. Each one of them has different expertise and holds some amazing industrial experience. We will together set up new benchmarks in the industry with this collaboration.”
Snitch raised- Rs. 1.5 crores for 0.5% equity
Final deal- Rs. 1.5 crores for 1.5% equity
Mahantam
Recently in the episode of 9th February, entrepreneurs of Mahantam- Dhaval and Jayesh Nai presented a unique concept of a tea glass washing machine. This unique concept was presented to the ‘sharks’ with a hot cup of tea. And they highlighted the fact that hygiene is a major concern in tea stalls, and it is a time-consuming task for vendors to clean and sanitize the tea glasses after every use.
Mahantam raised – Rs. 30 lakhs for 10% equity
Final deal– Rs. 30 lakhs for 20% equity
Impressed with the concept, Anupam Mittal said ‘Bharat business seekh raha hai’ and revealed his Dreamdeal.me project. Through it, entrepreneurs can make a one-minute Reel and share their business ideas. Selected best ideas get grants from Anupam’s team without taking any equity. Entrepreneurs Dhaval & Jayesh, who met Anupam earlier through Dreamdeal.me, used the grant money to upgrade the design presented on Shark Tank India.
In the first season of Shark Tank also some pitchers were lucky enough to receive an all-shark deals. So, let’s have a look at some of them too.
Skippi Ice Pops
The co-founders of Skippi Ice Pops, Ravi Kabra and Anuja Kabra pitched their unique ice pops product. Skippi Ice Pops are India’s first and only ice pops brand, based in Hyderabad, made from 100% natural colours, natural flavours, natural preservatives, and natural sweeteners. The founders had previously bootstrapped the business, and their initial investment was 55 lakhs. In the six months since their launch, Skippi had earned a revenue of 40 lakhs. Their long-term vision is to reach all over India in 3-4 years, and later focus Internationally, especially in the Middle East, and Africa. The Sharks were impressed by the innovative idea and the potential of the product. And therefore all five of them agreed to invest in the business.
Skippi Ice Pops raised- Rs 45 lakhs for 5% equity
Final Deal- Rs. 1 crore for 15% equity
Find Your Kicks India
Find Your Kicks India, a startup by Simardeep Singh, Harshdeep Singh and Danish Chawla, is also one of the brands that secured an all-shark deal in Shark Tank India. The company is revolutionizing the sneakerhead culture in India, by providing limited edition sneakers to customers in every size and ensuring that all sneakers are checked for authenticity before being sold.
Find Your Kicks India currently operates on Instagram, with over 40k followers, and is also planning on launching an app and website soon. At the time of pitching they mentioned, in the last 8 months, they had a revenue of 26 lakhs and thus the total valuation of the company sums up to 5 cr where the last month sales scale to 3.5 lakhs respectively. They even stated that their net profit is 17 lakhs and the average selling price of a sneaker is 20k. All sharks were very much impressed with their pitch and sales. And finally, the brand got the all-shark deal.
Find Your Kicks India raised- Rs 50 lakhs for 10% equity
Final Deal- Rs. 50 lakhs for 25% equity
So, these successful pitches have proved that with the right amount of motivation, anything is possible. Additionally, it also shows that the ‘sharks’ on the show are willing to invest in innovative ideas and help entrepreneurs take their businesses to the next level. These “all-shark” deals have provided entrepreneurs with the financial support they need to start their ventures and bring them one step closer to making their dreams a reality.
So, these “all-shark” deals in Shark Tank India Season have been a source of inspiration for budding entrepreneurs and have certainly made a positive impact on the entrepreneurial ecosystem in the country. We can only hope that more and more entrepreneurs take the plunge and showcase their business ideas to the panel of ‘sharks’ in the coming episodes.
