Shark Tank India has returned with its second instalment on Sony Entertainment Television and Sony LIV. Shark Tank India Season 2 episode 19 titled “Building Brands For India” premiered on January 26, 2023 during the 10-11PM IST time slot. Payel Seth is the show’s creative director, while it’s been produced by Studio NEXT, with Ravikesh Vatsa as its writer.
The show is hosted by comedian Rahul Dua, and graced by six judges, better known as sharks – Anupam Mittal Founder-CEO of Shaadi.com – People Group; Aman Gupta, Co-Founder-CMO of boAt; Namita Thapar, Executive Director of Emcure Pharmaceuticals; Vineeta Singh, Co-Founder-CEO of SUGAR Cosmetics; Peyush Bansal, Founder-CEO of Lenskart.com and Amit Jain, Co-Founder-CEO of CarDekho Group and InsuranceDekho.com.
-Shark Tank India Season 2 Episode 19 Recap Contains Spoilers-
Shark Tank India Season 2 Episode 19 Recap
Kalpit Patel is the first entrepreneur of the day, there to boost his business ‘PMV Electric’. Presenting a rather “cute” exhibition of electric car called EaS-E that run 160 kms upon being charged, the innovation factor here is about them being remotely controlled. Almost being promoted as a “quadricycle”, this uniquely mini car is offered as Patel’s answer to the rising pollution. What is shown on the episode finally is his team’s sixth prototype, and in order to take the project ahead, the brand requires an investment of Rs. 1 crore for 1% equity.
With a starting price set at Rs. 4 lakhs for the future, the car hasn’t been promoted yet and will be going into production only around April 2023. The sharks notice that they’re still at a very initial stage of the business, but talks around the concept continue. This leads the sharks to applaud his efforts put in and developing it. Peyush and the rest encourage him to keep pushing harder and pursuing this journey. The much-awaited offer comes from Anupam’s seat for Rs. 60 lakhs for 4% equity and Rs. 40 lakhs debt, who wants to bet on the man himself, but perhaps not on the car.
A counter walks back in for Anupam, requesting a deal of Rs. 1 crore for 2% equity. Anupam hears him out to some extent since he believes in his conviction and amends his offer to Rs. 1 crore for 6.67% equity, thereby removing the debt aspect. However, Kalpit can’t accept the offer presented to him and walks away without a deal, but the sharks are flattered than ever to have met him and learnt of his story.
Following their heartfelt passion for food, the ‘Spice Story’ founders Vibhor Rastogi, Soumyadeep Mukherjee and Gayatri Gogate bring on the chilly taste of chutneys, complementing street food, contained in a bottle form. Starting in 2019, the team asks for Rs. 70 lakhs for 2% equity to complete their mission of spicing up the world’s flavour with an Indian touch.
The sharks love the chutney to such an extent that Vineeta is planning to steal a bottle from their presentation. Coming down to statistics, the team revealed its last month sale standing at Rs. 57 lakhs. Anupam and Aman put up questions about why they haven’t been able to earn more despite having entered a majorly demanding market.
With their sales dipping into a loss that is out of comprehension bounds for the sharks. Indulging in a serious conversation, the net sales are eventually corrected by the team to be standing at Rs. 32 lakhs and EBITDA being -12%. The story is finally dissected when Gayatri Gogate breaks it down for them. Divulging how the pandemic period shut off their primary channel, they had to extend their services to the online mode which started with merely Amazon first. The reality is finally unveiled, but Aman can’t accept “the execution issue”, nor can Anupam help them despite having loved the tastes deeply.
Also read: MasterChef India Season 7 Episode 19 Review: Tag Team Cooking Creates Conflict Among the Contestants
All talks lead to Namita, who hands out an offer of Rs. 70 lakhs for 5% equity, and is considered “a very good offer”. They await Peyush’s deal as well, but further cashflow issues are brought to the surface which push him away. Namita still stays in because she’s willing to bet on the product, but the team needs to work on the arising setbacks. The deal is finally funded by Namita’s original offer, even though she rejects the incoming counter from the team.
‘Bullspree’ steps forth with the motto of “Fun + Learn + Invest”. Divyanshu Mathur, Dharmil Banish and Harsh Dahanawat introduce their gaming app through which users can learn about stock exchange. The application doesn’t actually facilitate buying and selling of stocks, but generates the same adrenaline as that of the real stock market for the users. Having gained 2 lakh users in the last 6 month, the team hopes to simplify stock market for the masses in the country and for that they need Rs. 75 lakhs against 1.5% equity.
Sharks initiate an obvious talk surrounding the pre-existing applications in the category, and assert that it will be a grave challenge to put up a fight against the bigger players of the game, already pre-established in the market. Anupam can’t seem to side with their timing and consider them to have made their way into this business a little too late. Conversely, Aman is ready to fuel their fight against the rivals and presents them an offer with the debt option.
Thereafter, the team asks Peyush if he would like to collaborate with Aman for the deal, and he willingly joins in which leads to the revision of the offer to Rs. 75 lakhs for 2.86% equity. Peyush labels it as his final offer, calling their work a “high risk business” and the deal is closed with both Aman and Peyush on board.
Shark Tank India Season 2 episodes will bet broadcasted on Sony Entertainment Television and live-streamed on SonyLIV from Monday to Friday at 10 PM IST.
Also read: Shark Tank India Season 2: All Deals That Led Sharks to Join Forces With Each Other Till Now