Shark Tank India: Nemocare founder Manoj Sanker says he was disappointed Peyush Bansal criticised them, says he had a bias from his past investment

Recently, a patented healthcare device founder expressed his disappointment over Peyush not understanding their vision and being biased during their pitch.

By: Entertainment Desk

Mumbai | April 8, 2024 04:31 PM IST

3 min read

Nemocare founder opens up about not locking deal with Peyush Bansal on Shark Tank India (Photos: YouTube Screengrab)

While Shark Tank India Season 3 concluded last month, its memories are still very fresh in the minds of the audiences. While the pitches still manage to grab attention, one very interesting pitch in the last season was from the founders of Nemocare a preventive healthcare monitoring device for newborns. Manoj Sanker from Bengaluru and Pratyusha Pareddy from Hyderabad brought their patented device on the show seeking funding of Rs 1 crore for 2.5 percent equity. The founders also revealed having grants from the Bill and Melinda Gates Foundation. While the pitchers bagged a deal with Aman Gupta for Rs 20 lakhs at 0.67 percent equity and Rs 80 lakhs as debt at 10 percent interest for 2 years, they could not seal the deal with Peyush Bansal, their Shark of choice.

Now, in a conversation with the Times of India, Manoj Sanker revealed that they were very disappointed for not locking the deal with Peyush Bansal. He even shared that they had a detailed conversation with the Sharks for about 90 to 100 minutes. Manoj also revealed he was very keen to have Peyush on board but they felt some bias from him that came from his past investment. The founder also shared that they were banking on Peyush as they felt he would understand the product and the business better. However, misalignment in their and Peyush’s vision led them to pick Aman Gupta.

Manoj even clarified that only the first grant came from the US, the other grants were all from India. BIRAC as well as the Government of India has supported them extensively. The founders had a difference of opinion with Peyush Bansal. While Peyush wanted them to confine the brand to India, Manoj and Pratyusha envisioned taking it to a global scale. Manoj also lauded Aman for all the support he had shown to them.

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In conclusion, Manoj also added that when they raise funds they also look at someone who understands their vision. They were disappointed that they could not get Peyush or a multi-Shark deal but they were glad to have Aman invest in the brand.

Peyush and Vineeta Singh had given the pitchers a combined offer of Rs 50 lakhs for 5 percent equity and Rs 50 lakhs as debt at 8 percent interest for 1 year. But due to the varying visions, the founders went ahead with Aman.

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