Namita Thapar breaks the bank for Shark Tank India pitchers rejected twice on the show, offers whopping Rs 150 crore valuation

Shark Tank India 4: Two founders left the 'sharks' jaws on the floor with an ask of Rs 1 crore at a valuation of Rs 300 crore. More surprisingly, the offer they received wasn't too far off.

By: Entertainment Desk

New Delhi | March 8, 2025 09:15 AM IST

3 min read

Namita Thapar on Shark Tank India 4.

A couple of young entrepreneurs pitched their fitness app business on Shark Tank India, which is currently airing its fourth episode. They left the panel of ‘sharks’ shocked by their ask of Rs 1.5 crore for .5% equity, valuing their company, Fitelo, at a whopping Rs 300 crore. Anupam Mittal joked, “Your valuation is obese.” The founders said that they struggled with weight for many years, and began Fitelo with the intention to help others in their position. Through the app, they provide diet plans, counselling, fitness lessons via exercise and various forms of dance, and also psychological aid.

Anupam felt that while this was a key differentiator, their model is broadly similar to that of competitors such as Healthify Me. The founders said that they were rejected twice for Shark Tank, back in the first and second seasons, when they were at Rs 1 crore and Rs 4 crore turnover. They didn’t apply in the third season, but told the ‘sharks’ that they are now targeting Rs 100 crore in revenue this year. “There has to be something magical about your app,” Vineeta Singh remarked, noting the return rate.

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Kunal Bahl described this as the ‘smile curve’, and said that it proves that customers have found value in the product. But he didn’t invest, nor did Anupam or Ritesh Agarwal. Each of them was very impressed with the business, but felt that it was going to undergo certain changes in the next year or so. They felt waiting and watching would be the best idea. Vineeta, however, made them an offer. She gave them a valuation of Rs 75 crore, which the founders weren’t in favour of.

Namita Thapar jumped in, and said that she would be made fun of in her youth. She said that she was called ‘moti’ by other children and that this left a deep impression on her mental health. The fact that the founders offer psychological counselling was appealing to Namita, who said that they could also offer supplements through the app in the future. She agreed to join hands with Vineeta, and they offered the founders Rs 1.5 crore at a Rs 150 crore valuation, plus a royalty, which they accepted.

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