Shark Tank India 3: Founders who sacrificed grand wedding to fund healthy snacks company are told to shut it down by Azhar Iqubal

On Shark Tank India, two founders behind a company generating crores in revenue were told by Azhar Iqbal to shut down their business, which Vineeta Singh and Aman Gupta disagreed with.

By: Entertainment Desk

New Delhi | March 11, 2024 11:50 AM IST

3 min read

Anupam Mittal on Shark Tank India.

The two married founders behind healthy snacking brand So Rich appeared on the latest episode of Shark Tank India, where they asked for Rs 90 lakh in exchange of 2.5% equity in their company. The founders said that they sacrificed a grand wedding and diverted all they funds they would’ve spent on it towards their business, which made Aman Gupta curious. But Anupam Mittal was confused why they were asking for just Rs 90 lakh. “Isse kya hoga (What good will this do)?” he asked rhetorically during their pitch.

The founders told Aman that they’d booked a banquet hall and saved around Rs 60 lakh for their wedding, but at the last minute, they decided to do away with a grand celebration and got married in a temple instead. The brand was born after the mother of one of the founders was diagnosed with cancer. The founder said that she developed some healthy teas for her mom during this difficult time, and one thing led to another.

Also read – Shark Tank India: Founder with just Rs 50k bank balance pitches AI model generation platform, gets the exact deal he asked for

Vineeta Singh was very impressed with their products, although Anupam felt that they were slightly overpriced. “You’re selling something worth Rs 20 for five times more, is anyone even buying this?” he asked. “The name of your company is accurate.” Peyush Bansal, however, felt that the flavours could be improved. Even though the business is generating crores in revenue, Azhar Iqubal felt that sales had stagnated. Anupam said that the reason behind this is the high pricing, and Peyush concurred. Peyush said that in less time, others have built business worth Rs 100 crore in the snacking market.

Anupam was also shocked to hear that the founders hadn’t stepped into the quick commerce area yet. “What in the world were you doing in the last two years when the market was exploding?” he asked. Azhar was harsher in his assessment. He said that the founders should consider shutting down the business entirely. “Shut it down, you’re going nowhere,” he said. But Vineeta disagreed. She appreciated the founders for setting up a bootstrapped business and generating crores in revenue. Peyush suggested that they hire a new member in the team who could aggressively take the business to the next level, and in the end, the founders walked away empty handed.

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