Shark Tank pitcher had 4 break-ups while building company, Anupam Mittal promises to get him married if he accepts his deal

What is Kalam Labs?

The founders began their pitch by showing a video of them launching their space vehicle, which reached up to the stratosphere at a distance of 43 km from the ground. “What you just witnessed is near space air vehicles of Kalam Labs. Taking India to the edge of space – to the stratosphere. An attempt make Indian military independent,” Ahmad Faraz said.

The founders highlighted the vehicle’s USPs, explaining that it has a minimal thermal signature and operates at near-space altitude, making it difficult to detect by radar or shoot down from the sky. They stated that the cost of making the vehicle is similar to that of manufacturing a drone, while its effectiveness is comparable to that of mini fighter jets.

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The founders revealed that Kalam Labs initially began as a space-focused learning platform and earned Rs 1.5 crore in revenue before pivoting to space missions. They also shared that they had partnered with Hrithik Roshan’s film Fighter and launched a space mission at a frugal cost. They admitted to having completed 60 launches so far and disclosed that two units are currently deployed with the IMD to ascertain weather, while four units are deployed with the Indian Army.

They further stated that a patent has been filed and announced that a payment of a Rs 1 crore order is underway. The founders also revealed that they have been promised consideration for procurement by top Army officials, with procurement expected to start at Rs 150 crore.

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How did the Sharks respond?

Mohit opted out first, saying, “There is disconnect with valuation because all discussions are happening in sales that are to happen in future. Doesn’t make sense to me.” Anupam also had concerns about the valuation but still decided to make an offer, saying, “Can’t align myself with something that is under discussion but I will offer Rs 2 crore for 2 percent.”

One of the founders, Ahmad Faraz, warned the Sharks, “If you will miss this, you will face a loss.” He also joked that he has had four break-ups during the time they created their company, but his teammates and fellow founders have stayed together throughout their college days. Reacting to this, Aman quipped, “This is a very important information for us to decided what to do.” Anupam Mittal, the founder of Shaadi.com, joked that he will get him married as long as he agrees to his ask.

Aman praised the founders for not choosing lucrative foreign jobs after graduating from a premier institute and instead building something in India. He matched Anupam’s offer. Namita also matched the same offer. Kunal Bahl, however, did not agree with the valuation and chose to opt out.

Aman and Anupam take potshots at each other

The founders countered with Rs 1 crore for 1 percent equity. Namita immediately opted out. Anupam agreed to revise his offer to Rs 2 crore for 1.8 percent, with the condition that the company raise an investment round of $5 million. Aman, on the other hand, revised his offer to Rs 2 crore for 1.5 percent. Anupam matched Aman’s offer but retained his condition.

Anupam, who had previously invested in a space-related project, said, “I will match Aman’s offer, you know who has the space connection.” Aman took a jibe at him and replied, “Oh come on, Shaadi ka connection nahi hai (This isn’t Shaadi connection),” taking a dig at Anupam’s brand Shaadi.com. Anupam hit back by asking the founders, “Will you put a billboard on your product and sell D2C,” taking a jibe at Aman’s boAt brand.

Aman then countered with Rs 2 crore for a 1.25 percent stake. Anupam opted out, saying, “I can’t reduce more, take Aman’s offer.” The founders immediately accepted Aman’s offer.

This article is a factual recap of events and pitches presented in the televised episode of Shark Tank India Season 5, as broadcast on SonyLIV. The information provided, including business valuations, revenue figures, funding amounts, and investment deals, reflects only what was stated or agreed upon during the show’s recording. Indian Express does not independently verify the financial claims, business metrics, or projections made by entrepreneurs or investors on the show.