The recent premiere of Shark Tank India’s third season introduced new sharks to the panel. In a featured episode, entrepreneurs from Ahmedabad, Kanishka and Raj presented WeHear, a cost-effective hearing device, seeking Rs 2.5 crore for a one per cent equity stake.
Although the sharks, especially Peyush Bansal, were impressed by the pitch, they expressed reservations, particularly due to the substantial funding request. Anupam Mittal questioned the unconventional funding the entrepreneurs had secured earlier and inquired about unfamiliar investors.
Vineeta Singh and Ritesh Agarwal shared concerns about the valuation. Ultimately, all sharks, except for Peyush Bansal, decided not to invest. Anupam expressed suspicion, stating, “Aap bohot tigdambaaz ho (You seem very fishy),” while Vineeta cited insufficient returns for the entry valuation. Ritesh declined, citing the significant time commitment required, and Aman Gupta deemed the ask as ‘too expensive.’
Peyush Bansal, the solely interested shark, proposed Rs 2.5 crore for 2.5 per cent equity, including 1.5 per cent advisory equity, and sought clarification on how the entrepreneurs planned to value him as an investor. For more information, stay tuned to the Incbasil Website.
