Shark Tank Season 2 episode 1 has already been telecasted on Sony TV on 2 January 2023 and there are going to be five big investors in this edition of the show which includes Anupam Mittal, Namita Thapar, Peyush Bansal, Aman Gupta, and Vineeta Singh. Comedian Rahul Dua has replaced Rannvijay Singha as the host of this season and we will see some big pitches and investments being made in this show.
Namita and Vineet invests in JhaJi Store in Bihar :
Namita Thapar and Vineeta Singh visits the JhaJi store in Darbhanga, Bihar. They met Kalpana Jha & Uma Jha from Shark Tank Season 1 after which they gave them a cheque of Rs 85 lakhs for 8.45% equity in their pickles business.
Shark Tank 2 Episode 1 All Pitches and Investments Details :
First Pitch – Yeshoda Karuturi and Rhea Karuturi – Founders of Hoovu Fresh – From Bengaluru – Two young sisters came and they gave the introduction of their company Hoovu Fresh to the investors. They said that they sell flowers which are used for Puja in temples and they have increased the shelf life of their flowers from 2 days to 15 days by using their mechinery & in-house technique.
They further said that currently they are available in 8 big cities of India and till date they have completed more then 2 million orders and they are associated with 300+ temples and 500+ farmers. They offered 1% equity for Rs 80 lakhs.
Aman Gupta & Peyush Bansal gave them an offer of Rs 1 crore for 2% equity and then Vineeta Singh & Namita Thapar gave them a counter offer which is Rs 50 lakhs for 1% equity along with 30 lakhs debt at 12% interest
Yeshoda and Rhea accepted Peyush Bansal and Aman Gupta’s offer.
Second Pitch – Ishaan Kanoria and Sparsh Agarwal – Founders of Dorje Teas – From Kolkata and Darjeeling – They made their pitch and then asked for Rs 30 lakhs for 5% equity. Investators loved the talking skills of Sparsh. Sparsh told Anupam to slurp the tea and he started gargling after which everyone starts laughing.
Sparsh made all the investors drink Roasted Black tea. Investors said that most Indians don’t drink tea without milk and Sparsh responds saying that in India, Darjeeling tea market is only 1% of the entire tea market.
Sparsh said that his vision is to start a subscription model for Darjeeling tea which will be priced at Rs 2100 annually. Vineeta said that subscription model is completely against the core Indian behaviour.
It is revealed that their business was going in a loss and they had only Rs 25 lakhs remained from the entire funding amount raised.
Finally Vineeta Singh offered them Rs 30 lakhs for 10% equity and then Peyush Bansal said that me, Anupam, and Vineeta will offer you Rs 30 lakhs for 5% equity each (15% equity) and we want to come as equity plus strategic investors
Ishaan and Sparsh finally accepts Vineeta Singh, Peyush Bansal, and Anupam Mittal’s offer.
Third Pitch – Rahul Sachdeva and Dheeraj Bansal – Founders of Recode Studios – From Panchkula and Ludhiana – They made their pitch for their makeup and cosmetic brand after which they asked for Rs 1 crore for 1% equity.
Rahul and Dheeraj gave the products to the investors and Aman Gupta said that he has never seen a more worse packaging then this. Namita Thapar said that she has a principle and she won’t invest in her friend’s (Vineeta Singh) competitor.
Dheeraj told Vineeta Singh that Sugar follows Recode on Instagram and she gets shocked. Aman said that he is also out because Vineeta is also in cosmetics business. Peyush said that he is also out because he cannot add any value to this business. Vineeta said that she can’t partner with them because she is already in this business.
Anupam Mittal praised them a lot for their business sense and he said that he has two issues with their pitch which is Valuation and Chemistry because of which he is out.