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Anupam Mittal says ‘isse better mugs jail mein milte hain’ to Shark Tank India pitcher claiming his products are superior to Decathlon’s

Shark Tank India 4: A passionate entrepreneur taught Aman Gupta a lesson in how to pitch himself more purposefully to founders.

Anupam Mittal on Shark Tank India 4.

Aman Gupta learned a lesson during a pitch on the latest episode of Shark Tank India. He realised that ‘sharks’, too, should pitch themselves to entrepreneurs when they make offers, because this keeps them on their toes. The episode featured two founders from Bhopal, named Prateek and Deepesh, who presented their biking gear brand Wanderlooms to the panel of ‘sharks’. They said that they want to build a community of riders across the country, and provide premium riding gear for them at affordable rates. The founders asked for Rs 50 lakh in exchange of 2.5% equity, valuing their company at Rs 20 crore.

Anupam Mittal was inquisitive about the riding subculture in the country, and wanted to know more about safety protocols. “Mere ek do friends ki death hogayi hai,” he said, and asked Prateek how riders can be more safe while following their passion. Prateek replied, “In simple terms, sawari apne samaan ki khud zimmedaar hai.” He said that unlike Royal Enfield, their company only produces lifestyle products with which customers can showcase their personalities. He also claimed that their products use premium quality material, and are cheaper than those produced by competitors such as Decathlon.

Also read – Namita Thapar refuses to invest in business that counts Nithin Kamath as a backer, tells Shark Tank India pitchers it’s ‘not investable’

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But Anupam wasn’t impressed. He said, “I could getter mugs than these in jail, not that I’ve been to jail. But look, the paint is peeling off. You’re calling yourself a premium brand, but your price is lower than your competitors’. You need to be smarter. Only passion wont work.” Aman was on the same page about the designs, and said that they would need to up their game in this department. But he was ready to make an offer. He said that he would give them Rs 50 lakh, but in exchange of 5% equity.

Peyush Bansal dropped out after Anupam, saying that Prateek needs a more business-minded partner to fix some of their shortcomings. But Ritesh Agarwal and Namita Thapar agreed to make a joint offer. They offered Rs 50 lakh in exchange for 5%, and Prateek managed to get them down to 4%. Aman lowered his ask too, but Prateek went with Namita and Ritesh. Asked why he didn’t request all three ‘sharks’ to join hands, Prateek said that he knew they would increase their equity ask. This made Namita laugh. Aman asked him why he went with Namita and Ritesh, and Prateek told him that they made a better pitch to him. Namita and Ritesh offered to get him in touch with valuable people, and said that they would bring their joint expertise to the company.

Aman admitted that he didn’t make a strong enough case for himself, and said that ‘sharks’ should learn to stay on their toes and not take things lightly. “I should’ve said that as well,” he said.

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