On the 2nd episode of Shark Tank India Season 2 we saw deals offered by saree, smartwatch, and soup making company owners to the Sharks. Vineeta Singh made a risky deal with a company because of the immense passion of their owners. Anupam Mittal also made some smart investments and we will share all the details about them.
Shark Tank 2 Episode 2 All Pitches and Investments Made – Full Details :
First Pitch – Manish Atri and Salony Gambhir – Founders of Very Much Indian – They both were in Saree business and Paithani saree was their highlight product. They made their pitch, after which they offered 3% equity in their company for Rs 50 lakhs.
Salony said that they have a weavers community of more then 400+ people. Investors were also given a live demo of saree weaving. Salony gifted saree to both Namita Thapar and Vineeta Singh. Salony and Manish said that they have a projection of Rs 2 crores for Year 2023.
Namita Thapar offered them Rs 50 lakhs for 10% equity. Peyush Bansal said that he is out of it because Namita has made a good offer. Anupam Mittal said that he is not much interested in this business and that’s why he’s out.
Namita and Aman finally made the deal with Manish and Salony for Rs 50 lakhs for 10% equity.
Second Pitch – Divyajeet Baheti and Abhisek Baheti – Founders of Watchout Wearables – Abhisek’s nephew Divyajeet made the pitch and then Abhisek made the pitch for his business model which makes smartwatches of kids. Abhisek asked for Rs 2 crores for 5% equity.
Abhisek Baheti gave a live interface demo for their upcoming kids smartwatch with the help of Vineeta. Abhisek told a story about the family loss he has suffered in the past and hearing this Sharks got emotional.
Abhisek also showed a upcoming smartwatch product for senior citizens. Aman Gupta told Abhijeet to lower the price of his products and increase the scale but he is out. Peyush Bansal also said that he is out. Namita Thapar said that Rs 40 crores valuation for this business is not justified and that’s why she’s out.
Vineeta Singh and Anupama Mittal offered Abhisek Rs 1 crore for 10% equity and also 1 crore in debt at 15% interest. Abhisek said that his offer is 5% equity for Rs 1 crore. Anupam Mittal said that the investors will decide valuation.
Abhisek talked to his father about the offer by the investors. Abhisek finally accepts the deal of Vineeta Singh and Anupam Mittal of Rs 1 crore for 10% equity and Rs 1 crore in debt at 15% interest.
Third Pitch – Priyank Jain and Uttam Kumar – Founders of SoupX – They both told investors about their healthy soup making brand and they offered 6% equity for Rs 75 lakhs.
The gave their different varieties of soups to the investors to drink it. Aman Gupta said that he did not liked the smell of their soup. Namita said that her soup is too sweet and Vineeta gave her soup to her saying its good. Peyush Bansal said that his soup is too cold.
Priyank said that they have a subscription model as well. Anupam Mittal said that their health understanding is very superficial and based on his study, all these things are nonsense.
Vineeta Singh asked them to show the nutritional value of soup and they were showing their website. Anupam Mittal told them to show the composition. Anupam competely outsmarts them and he said they don’t have the understanding of this business and that’s why he’s out. Priyank said that their last month sale was around Rs 8 lakhs and their Gross margin is of 40%.
Priyank tells them that he does a job in the morning and investors got shocked hearing this. Peyush said that he won’t be able to add any value to it and he is out. Aman said that he has fears in this business and that’s why he’s out. Namita also said that she is out.
Priyank Jain said to Vineeta that he will resign from his job tomorrow if he gets the funding.
Vineeta Singh offered them Rs 50 lakhs for 20% equity and Rs 25 lakhs in debt at 12% interest.
Finally Vineeta made a deal with them for Rs 50 lakhs at 18% equity and Rs 25 lakhs in debt at 12% interest.