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Aman Gupta sniffs paints made of cow dung extract on Shark Tank India, Anupam Mittal calls pitchers ‘Gobar ke Gabbar’

Shark Tank India 4: Anupam Mittal was so confused during a pitch by the founders of Midas Paints, he forgot what he was confused about.

Aman Gupta on Shark Tank India 4.

All five ‘sharks’ were amused and intrigued on the latest episode of Shark Tank India by a pitch by four entrepreneurs from Maharashtra. The foursome presented the ‘sharks’ with their paint brand Midas Paints, which makes products using extract from cow dung. They said that their paints are eco-friendly, sustainable, and have various benefits that other oil-based paints don’t. They also claimed that their products have anti-bacterial, anti-fungal, and anti-radiation qualities. They asked for Rs 3 crore in exchange of 5% equity, valuing their business at Rs 60 crore.

The four entrepreneurs told the ‘sharks’ that they got the idea for the company after observing ladies in their village painting houses using cow dung. Upon asking them about it, they learned about the benefits of cow dung, and formulated a plan. But Aman Gupta was concerned about the fact that only one of them works full-time at the company, while the other three have jobs that keep them busy. Anupam Mittal, on the other hand, was interested to know more about their actual products and how they stand apart from those produced by big players in the market.

Also read – Shark Tank India pitcher who spent Rs 14 crore of husband’s money on her business is accused of ‘disrespecting cash’ by Vineeta Singh

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The entrepreneurs told him that their products have one-fifth of the carcinogens present in their competitors’ products, and that they are concerned not only for the health and safety of their customers, but also of the painters who have to inhale these harmful fumes on a daily basis. The ‘sharks’ were impressed by their growth; the founders said that they’re projecting sales of Rs 5 crore this year.

But further questioning revealed the cracks in their claims. Ritesh Agarwal noticed that their numbers didn’t add up, while Aman advised them to hire a chartered accountant who can help them out in this regard. Anupam was unconvinced about the products’ differentiating factor, and Namita Thapar asked the founders to show them their paint. “Smell kar ke dekh,” she asked Aman, who promptly stuck his nose into a can and reported that it wasn’t as bad as he’d imagined.

Ritesh agreed. He said that he was ready to make them an offer, but was thrown off by their jumbled figures. Kunal Bahl said that he wasn’t convinced by their differentiator, and could imagine competitors driving them out of the market by creating rival products. Aman, Namita and Anupam also backed out of the deal, leaving the founders empty handed. Anupam said that he was confused by their numbers, but wished them the best of luck, and sent them off with a tag: ‘Gobar ke Gabbar’.

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