New Delhi: The latest episode of ‘Shark Tank India Season 2’ saw a no deal episode. Despite varying pitches and interesting business ideas, all sharks refused to invest in any of the businesses.
The episode began with a pitch by a strong beer brand called the Proost. Despite their numbers, their average burn and full potential to grow, most sharks backed out because of the risks involved in the business. Aman Gupta and Anupam Mittal pointed out the difficulty in expanding liquor business above a particular mark because of the big players and ‘strong men’ involved in the business.
Interestingly, Namita Thapar also backed out because of a lack of interest and as by her own confession when she said, “I have never tasted alcohol in my life” and that she comes from a family that does not consume alcohol.
The second pitch was a company called Mr. Cubes which pitched their business of selling ice. The founder duo suggested to organize the sector, however, their numbers and a lack of demand in the market led all sharks to opt out of making an investment.
The third pitch was by a company called MetroRide which in collaboration with public transport services like the metros in urban cities provides commute services to consumers from metros to nearby areas.
Despite an impressive pitch, their early seed business and slightly disorganized approach, all five sharks chose to opt out.
Another interesting pitch was by a chemistry teacher who started his own ed-tech platform which imparts skills. The founder was grilled a lot by the sharks when he failed to answer most questions relevant to the business model, sales and motivation on how to go scale his business.
Aman Gupta also pointed out that his pitch felt artificial while the other sharks advised him to continue working as a YouTuber.
‘Shark Tank India 2’ is judged by Anupam Mittal (Founder and CEO of Shaadi.com – People Group), Aman Gupta (Co-Founder and CMO of boAt), Peyush Bansal (Founder and CEO of Lenskart.com), Namita Thapar (Executive Director of Emcure Pharmaceuticals), Vineeta Singh (Co-Founder and CEO of SUGAR Cosmetics), and Amit Jain (CEO and Co-founder of CarDekho Group and InsuranceDekho.com).
‘Shark Tank India’ streams from Monday to Friday at 10:00 PM.