‘Paisa kahan jaa raha hai?’: Anupam Mittal questions strategy of Shark Tank India pitchers as they reveal Rs 10 lakh monthly losses

Also Read: Aman Gupta tries on a lipstick, castigates Shark Tank India pitcher for ‘very bad pitch’; Anupam Mittal, Vineeta Singh ink the deal

 

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Vineeta Singh lauded them, while Aman said, “This is still your father’s business.” Kanika also added, “Maintenance for this is a massive headache.” Later, Aman asked if this was safe, “If no one monitors this, it can get risky,” Aman said, calling the product ‘less user-friendly.’ What further went against the founders was when they revealed facing major losses. Talking about their monthly revenue, Sumir shared, “We have been making Rs 20 lakhs per month, and are also burning Rs 10 lakhs a month.” He further added that in 2023-24, their revenue was Rs 1.7 crores with a loss of Rs 80- 90 lakhs. In 2024-25, they earned Rs 2.1 cr, with a loss of Rs 1 crore. Year-to-date, their sales have been Rs 1 crore.

On learning this, Vineeta asked, “Why has there been no growth?” Anupam also added, “Paisa kahaan jaa raha hai, dhanda kyun nahi bana paa rahe?” The founders explained that they are facing lots of challenges in scaling and reaching the right consumers; they are only in Delhi right now.

‘You’re running the business in a complicated way’: Aman Gupta

While the Sharks loved the product, they didn’t agree with the way the business was happening. Aman Gupta said, “This is a very simple business which you guys are running in a complicated way. You both are educated, come from the same family, have a loss of Rs 10 lakhs, understand a consumer’s journey, when they build a house, they won’t do it without consulting an architect. If one cannot afford an architect, they cannot afford this either. I can guarantee that anyone would just buy the steam machine; this product is not D2C, don’t sell it like that. I am out.”

Anupam Mittal also said, “I have a different view; if you want to understand the market anywhere, look at what the rich are doing. You will find this in every HNI’s (High Net-worth Individual) house, so I think there is a big market for this. The question is, how will you make this big? How will you make it a Rs 100 cr business?” He also added later, “I asked about strategy, you said you will do everything, that’s not strategy, it’s a lack of strategy. It is only a matter of time before this becomes a necessity. Increase your gross margin when it scales, reduce your cost dramatically, and then this will be a need. I don’t see that you can penetrate a market now, so I am out.”

 

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Vineeta Singh said, “Whatever you are trying to do, an essential ingredient to make a brand is gross margin. You fundamentally made a big mistake with your pricing; if you are selling this to HNI’s at Rs 60 or 80 thousand doesn’t make a difference to them. Why are you wasting time on a business that has a 20 percent gross margin when your capital gets stuck? You need to double your price. Adoption will take some time, but you need to fix your pricing; for that reason, I am out.”

Namita added, “I am also out. I tried to dig deeper into the customer profile. Meta marketing is not the right way for a product like this; you will need advocates whom a person trusts, and you need to associate with builders or architects. If you bring depth to this, something can happen, so work on it.” Kanika Tekriwal raised concerns about installation standards and certifications, noting that products involving heat and electrical systems require strong safety compliance and clear quality assurances. “One of our businesses is real estate, and we want to provide premium housing to people, but our clientele comes to see our experience center, and they pick and choose things. DLF should be a partner, your product is good, I was on the edge to invest, but you guys need lots of help. You need to clean up your strategy and bring some kind of certification. If a house burns down because of this, you will be finished, so I am out.”