Shark Tank India pitchers say company’s valuation went from Rs 10 cr to Rs 400 cr in 3 years: ‘It made us what we are’. Watch

Shark Tank India is all set to come back with its fourth season. The channel recently dropped the first promo the upcoming season with the founders of a company that received funding during the show’s first season. The company named Proxgy first appeared on the show in 2021 and got an investment of Rs 1 crore from Ashneer Grover and Peyush Bansal, and now, three years later, the founders have claimed that the company is valued at Rs 400 crore.

Founders Pulkit Ahuja and Inderjit Singh Makkar presented their business Proxgy, a company providing technological solutions through their six patented ideas, and received some feedback from Ashneer in terms of their use case. The company presented itself as a product company making solutions for businesses who might need surveillance and have to avoid pilferage. Their products have cameras, and code scanners with a voice box that can be used for KYCs, overseeing factories among other things. After their pitch, three judges showed no interest in investing in their business but Peyush and Ashneer gave them an offer.

The founders originally asked them for Rs 35 lakh for 1 percent of the company. Peyush and Ashneer offered them Rs 50 lakh for 10 percent but after a little back and forth, they increased it to Rs 1 crore for 10 percent of the company, taking the company’s valuation to Rs 10 crore.

 

View this post on Instagram

 

A post shared by Sony LIV (@sonylivindia)

In the latest promo, Pulkit declared that their valuation currently stands at Rs 400 crore. “Shark Tank made us what we are today,” he said in the promo. It is yet to be known if Peyush and Ashneer are still associated with the company in any capacity.

Shark Tank Season 4 starts streaming on January 6 on SonyLIV. This year, Aman Gupta, Anupam Mittal, Namita Thapar, Peyush Bansal, Vineeta Singh, Ritesh Agarwal, Kunal Bahl, Azhar Iqubal will join the show as judges who will invest their own money in businesses that are presented on the show. Ashneer Grover quit the show after the first season.