Startups

Startups That Went On To Become Successful Despite Rejection On Shark Tank India – Indiatimes.com


Popular business reality show Shark Tank India, which is currently into its third season, witnesses some pitchers cracking successful deals with the judges, while some fail to get the no from any of the sharks, right? But rejection from shark tank India judges does not necessarily mean the end of the road for all startups, as some even go on to become successful despite not getting investment from the sharks.

So read on as bring to you a list of some startups that got rejected on shark tank India but have since then gone on to become successful:

Startups That Became Successful Despite Rejection On Shark Tank India

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Also Read: Shark Tank India Season 3: List Of All 12 Judges & Their Net Worths

Shark Tank India/gqindia

1.Agro Tourism – Pure Holidayism 

Founded: 2003 

Valuation: Rs 40 crores

The founder Pandurang Taware’s business concept, “agriculture tourism,” links farmers and travelers directly, giving travelers a unique experience. The founder had asked for Rs 50 lakh for 5% equity in his Shark Tank pitch. But during the show, it drew no attention at all.

However, Emcure Pharmaceuticals’s Executive Director (India Business) and Shark Tank India judge Namita Thapar regretted not being able to fund the startup at the time. Namita made a financial investment in Pandurang’s Agro Tourism two months after the show concluded, as per Lifestyle 

2.Moonshine

Founded: 2016 

Valuation: Rs 160 crores

The goal of startup founders Rohan Rehani and Nitin Vishwas is to revive mead, the oldest alcoholic beverage in the world. It is also the first meadery in Asia and India, made from fermented honey combined with various fruits and spices.

The founders asked for Rs 80 lakhs for 0.5% equity in their Shark Tank pitch. But since none of the sharks were interested in the idea, the deal fell through.

But this didn’t make the founders any less optimistic. Moonshine has been growing, leaving more and more of its mark in the Himachal Pradesh, Uttar Pradesh, Maharashtra, and Goa. 

Shark Tank India/sonyliv

3.Qzense Labs

Founded: 2019 

Valuation: Rs 400 crores

Qzense Labs was another startup that failed at Shark Tank. In order to decrease food waste in the agriculture industry, Ruhal Chib and Dr. Srishti Batra founded the company in 2019. Their primary product was a rotten fruit detection tool.

The founders requested 0.25% equity in exchange for Rs 1 crore in their Shark Tank pitch. However, none of the sharks made an investment in the startup because of the low sales (Rs 15 lakh) in the previous year (2020).

In spite of all the challenges, Ruhal and Srishti’s startup was listed on Forbes Asia’s recently released “100 to watch” list, which highlights the 100 up-and-coming businesses in the Asia-Pacific area. 

Also Read: Shark Tank India: List Of Startups In Which Judges Have Invested

4.Keto India

Founded: 2018 

Valuation: Rs 120 crores

Sahil Pruthi, the creator of Keto India, got the inspiration while seeing his mother recover from brain surgery. His healthcare technology business busts nutrition, food, and health myths. It aims to increase awareness about the “right diet” by offering personalized and comprehensive nutrition plans.

In his Shark Tank pitch, Sahil requested Rs 1.5 crore for 1.25% of the company. Four of the five sharks on the show expressed interest in the pitch after the company countered the offer with Rs 1.6 crore and 16% equity. But Keto’s creator graciously declined their counteroffer. 

shark tank 2/shark tank

5.Theka Coffee

Founded: 2017 

Valuation: Rs 5 crores

Theka Coffee was the brainchild of founder Bhuvinder Madaan, who had seven unsuccessful attempts before hitting on this idea. The company’s flagship offering, cold coffee, comes in twelve different varieties. Its premium-looking packaging, which offers various coffee flavors in beer bottles, is meant to draw in millennials.

Bhuvinder, the founder, had requested Rs 50 lakhs for 10% equity in his Shark Tank pitch. The sharks initially appeared interested, but they ultimately decided against it after providing some good justifications.

That didn’t lessen Bhuvinder’s resolve, though. Zenith Multi Trading, a company based in Dubai, helped the brand Theka Coffee raise Rs 2.5 crore. In addition, Bhuvinder received offers from Microsoft and Reliance Retail to sell Theka Coffee goods on their properties. 

6.ExperientialEtc

Founded: 2017 

Valuation: Rs 50 crores

ExperentialEtc was founded by Karan Bhardwaj and Prashant Pandey with the goal of creating exceptional experiential marketing experiences. The Mumbai-based startup employs cutting-edge technology to meet the needs of its clients, including projection mapping, magic LEDs, holographic 3D displays, and more.

The founders requested Rs 2 crore in exchange for 4% equity in their Shark Tank pitch. Ultimately, though, the sharks showed little interest in the concept and made no financial commitment.

However, it has been reported that the founders intend to expand the startup’s activities worldwide. ExperientialEtc has also recently closed a funding round, raising $350,000 USD (roughly Rs 2.86 crores). 

7.Torch-it

Founded: 2016

Valuation: Rs 75 crores

The startup Torch-It makes assistive technology for people with disabilities in order to promote a sustainable and inclusive ecosystem. The company was founded in 2016 by Hunny Bhagchandani and Mohit Chelani, and it is valued at 75 crores INR. The startup’s devices aid visually impaired people in navigating by using ultrasonic sensors to display an object’s proximity. Despite investors’ enthusiasm for the concept, the founders’ offer of 75 lakhs INR for 1% equity was turned down.

8. Urban Monkey

Founded: 2013

Valuation: Rs 100 crores

Yash Gangwal established the streetwear fashion label Urban Monkey in Mumbai in 2013. The brand, which targets young people in India, debuted on Shark Tank India with a 100 crore rupee valuation.

Its product line, which has been popular with celebrities like Raftaar and Rannvijay Singha, includes caps, sunglasses, belts, backpacks, clothes, and more. Yash requested an INR 1 crore investment in return for 1% equity, but the sharks turned down the offer despite the success of the brand.  

9.Flatheads

flatheads/shark tank

Founded: 2018

Valuation: Rs 25 crores

Co-founder Ganesh Balakrishnan introduced his Bengaluru-based startup, Flatheads, showcasing the company’s ability to create ecologically friendly and sustainably made casual sneakers for city people. Balakrishnan requested an investment of 75 lakhs and a 3% equity stake, valued at 25 crores, in his pitch. The startup faced difficulties, the sharks observed during the pitch, especially in the vital areas of the four Ps of essential marketing: product, price, place, and promotion. Ganesh Balakrishnan and Utkarsh Biradar founded Flatheads in 2018 with the goal of ensuring comfort and cooling in footwear through the use of cutting-edge materials like bamboo or banana yarn.

Also Read: Shark Tank India: List Of Startups In Which Judges Have Invested

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