Entertainment

Rejected Startups In Shark Tank India

What is Shark Tank?

It is a US-based business reality television series. It first aired on ABC (American Broadcasting Company) in 2009. This show has two sides of people, the entrepreneurs and the investors (aka sharks). In this program, several selected entrepreneurs are offering their companies to attract investment from the sharks. Exclusive and profitable ideas that catch the attention of sharks receive an investment agreement. Inspired by this, India launched their version of Shark Tank India. The show’s first season first premiered on December 20, 2021, on Sony Entertainment Television. Shark Tank India, the show almost everyone is talking about now, has brought the conversation to our living rooms. And with that, he introduced us to numerous startups from across the country, from tech to health-based. But as good as that sounds, not all startups get a deal with the program.

This season, seven sharks (investors) appeared and closed several deals. Sharks included:

·         Namita Thapar, CEO of Emcure Pharmaceuticals

·         Vineeta Singh, CEO of Sugar Cosmetics

·         Ghazal Alagh, Co-Founder at MamaEarth

·         Aman Gupta, Co-Founder, and CMO of Boat

·         Anupam Mittal, Founder of Shaadi.com, Mauj, and more

·         Ashneer Grover, Previously MD and Co-Founder at BharatPe

·         Peyush Bansal, CEO and Founder at Lenskart

Successful startups rejected at Shark Tank India

The show’s first season was a huge success for both sharks and entrepreneurs. The show received 62,000 submissions from various applicants in its first season. Of these, only 198 companies were selected to make their pitches before the sharks. 67 of those 198 commercial launches were able to secure a deal with them. However, there have been some startup ideas that failed to secure a deal but are working successfully. Here are the most successful startups that were rejected from the program:

1.  Moonshine

Founded: 2016

Valuation: INR 160 Crores

Moonshine – Shark Tank India Rejected Startups

It is the first mead in Asia and India, established in 2016. The founders of the startup are Rohan Rehani and Nitin Vishwas. Mead is the oldest alcoholic beverage. The startup appeared on the show with a valuation of INR 160 crores. Fermenting honey with various fruits and spices.No artificial flavours or colours are added to the mead. The founders asked for 80 lakhs INR in exchange for 0.5% of the company’s shares. Although all sharks were interested, the founders did not find the counter offer attractive and therefore the deal was rejected.

2.  Urban Monkey

Founded: 2013

Valuation: INR 100 Crores

It is a streetwear fashion brand established in Mumbai in 2013. Yash Gangwal is the founder of the startup. The target group of the brand is the youth of India. He performed on the show with a rating of INR 100 crore. The brand’s products include hats, sunglasses, belts, backpacks, clothing and more. The products have been liked and used by celebrities like Rannvijay Singha, Raftaar etc. Yash requested an investment of Rs 1 million in exchange for 1% equity. Although the brand is doing well, the sharks turned down the deal.

3.  Morriko Foods

Founded: 2017

Valuation: INR 33.33 Crores

Morriko pure foods is a new company based in Gujarat. It specializes in solar-powered dehydrated fruit and vegetable powders. Shri Bipin Shah founded it in 2002 as Kamdhenu Foods and the Morriko brand started in 2017. The founders also include Tanmay Shah and Kalyani. Shah. The startup wants to promote healthy snacking with its products. They have a variety of products like mango chunks, guava chunks, drumstick powder, herbal teas and more. He appeared on the show with a valuation of INR 33.33 crore. Offers that the founders rejected.

4.  ExperientialEtc

Founded: 2017

Valuation: INR 50 Crores

Another startup is this leading experiential marketing agency that builds world-class experiences. The startup was founded in 2017 by Karan Bhardwaj and Prashant Pandey and is based in Mumbai. He has a net worth of INR 50 crores. The startup improves communication through the use of holographic 3D displays. , projection mappings, life-size kinetic structures and magic LEDs. It also uses machine language, interactive videos, etc. when the requirements are digital. The startup was charging Rs 2 crore for 4% of the company’s shares. The Sharks were quite intrigued by the idea, but they still turned down this big deal.

5.  Agri Tourism

Founded: 2003

Valuation: INR 40 Crores

The start-up offers a fascinating tourism experience in agriculture. Pandurang Taware started in 2003 based in Maharashtra. He has a net worth of INR 40 crore. It connects tourists directly with farmers. This improves the experience for both. The startup takes care of tourists’ food and amenities to complement their stays in the villages. The agritourism market is gaining popularity in India which makes it quite a successful start-up today. The founder charged 50 lakhs INR for 5%. Equity capital. However, the startup was turned down by the Sharks.

6.  Torch-it

Founded: 2016

Valuation: INR 75 Crores

The startup develops tools for people with disabilities to create a sustainable ecosystem that promotes inclusive growth. It was founded in 2016 by Hunny Bhagchandani and Mohit Chelani. The startup has a valuation of Rs 75 crore INR. Your devices use ultrasonic sensors to indicate how close or far away objects are. This helps visually impaired people find their way around easily. The claim was INR 75 lakhs for 1% of the company’s share capital. Investors loved the idea, but the startup was turned down for investment.

7.  Shades of Spring

Founded: 2018

Valuation: INR 300 Crores

It is a brand that offers flower giftings. It commenced withinside the 12 months of 2018 via way of means of Nidhi Gupta and Anju Bhagat. The startup is primarily based totally in Bengaluru. It gives farm-sparkling vegetation for unique activities in addition to subscription models. The startup gives extra than 5 hundred forms of sparkling vegetation produced via way of means by Indian farmers. It affords weekly and month-to-month flower subscription models, luxurious bouquets, hand-tied bouquets, and extra. The call for change into for three crores INR for 1% fairness of their company. According to this, the valuation stands at three hundred crores INR. The startup has been extremely good a success even earlier than the advent at the display but was given rejected via way of means of the sharks.

8.  Green Protein

Founded: 2020

Valuation: INR 30 Crores

It is a plant-based protein drink startup founded in 2020. The founders of the startup are Madhvi Datwani, Parag Khimani, and Parigna Thorat. The valuation is INR 30 crore. The startup makes vegan, cruelty-free, and enticing plant-based products. They are available in six fruit flavours and three shake flavours. These products contain no added sugar and do not require special blenders as they mix easily with water. The founders charged 60 lakhs INR for 2% equity. The Sharks made certain counteroffers, but in the end, the deal was turned down.

Conclusion

Shark Tank’s debut in India was a huge success. Several entrepreneurs have been able to secure amazing investment deals from the sharks. However, there were other startups that failed to receive investment. Either they couldn’t impress the sharks or they couldn’t come to an agreement. The above startups like Moonshine, Shades of Spring, and others have been shunned for investment but are still doing well and surprisingly well in their arenas.