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Annoyed Anupam Mittal says ‘I wish you a lot of struggle’ to Shark Tank India pitcher who has never worked in her life: ‘You have to fail’

Shark Tank India 4: Anupam Mittal was short tempered with an entrepreneur selling high-grade ceremonial macha, while Kunal Bahl was shocked to discover that she had never been to Japan.

Anupam Mittal on Shark Tank India 4.

Two young entrepreneurs, one from Bengaluru and the other from Ghaziabad, appeared on the latest episode of Shark Tank India to pitch Glow Glossary, their matcha-based wellness brand. The CEO, Pratishtha, said that she lived in New York for six years, where she developed an affection for the Japanese tea, and launched her company last year. She left most of the talking to her partner, Kavya, saying that she is extremely camera shy. Kavya told the ‘sharks’ that they are targeting Rs 1.5 crore in revenue in the first year itself, at a profit margin of an astounding 45%.

The founders asked for Rs 60 lakh in funding, in exchange of 4% equity, valuing the company at Rs 15 crore. But this was the end of the road as far as positives are concerned. Namita Thapar made a face after tasting the matcha; she said that this was her first time having the beverage. Kunal Bahl, on the other hand, praised the quality of the product, but was shocked to discover that Pratishtha had never even been to Japan. “Then how do you source the powder?” he asked, curious to understand their supply chain. Kavya said that they receive the processed matcha from Japan, where operations are overseen by Pratishtha’s Japanese friend. “She’s like my sister,” Pratishtha said, which incensed Anupam Mittal.

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“If you’ve come here to joke, I can also joke around with you. But if you’ve come here to raise serious investment, you have to be serious,” he said. Anupam also made it clear that he doubts Pratishtha’s camera shyness, and said that she is just uninformed about how to run a business. Vineeta Singh, however, was impressed by the numbers. But she also felt that the founders had a lot of learning to do. “This isn’t investable at this stage,” she said, noting that the founders weren’t clear about how to scale the business.

“Where do you see this going?” Anupam asked, and Kavya said that she can imagine this turning into a Rs 300 crore business. They already provide matcha to clients such as Fig in Delhi and Soho House in Mumbai. They told the ‘sharks’ that they sell the matcha at Rs 23,00o per kilogram. But Kunal was quick to note that they have diversified interests. “While your matcha is actually good, your other products are ordinary,” he said, and Namita agreed that they should develop a more cohesive list of products, that retain matcha as the core component.

After all the ‘sharks’ had backed out, Anupam took a pause and said, “Have you had a job before?” Pratishtha said that she hasn’t worked in her life. “I thought so,” Anupam said, and Pratishtha told him that while she hasn’t had a job, she ran a real estate business in New York. “I’m going to wish you something that I don’t normally wish people. I wish you a lot of struggle. If you really want to build a big business, you have to fail,” he said. The founders left without a deal.

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