The fourth season of Shark Tank India kicked off with a bang, setting the stage for high-stakes investments and bold pitches.
Peyush Bansal, one of the sharks, made headlines by committing a record-breaking Rs 5 crore to NOOE in the third episode.
Amidst this excitement, Kiran Shah entered the tank, seeking Rs 1 crore for a 1% stake in his zero-sugar ice cream brand, Go Zero, valuing his company at a hefty Rs 100 crore.
Kiran, whose family has been in the ice cream business for over 50 years with their brand Apsara Ice Cream, decided to launch Go Zero to tap into the growing zero-sugar market.
His pitch highlighted the brand's focus on the fast commerce sector, which drives 70% of its revenue. Kiran also projected Rs 33 crore in sales for the year, with the zero-sugar ice cream segment growing at 30% annually.
The sharks, including Anupam Mittal, who is lactose intolerant, were impressed with Go Zero’s offerings. Anupam sampled the vegan ice cream, while Kunal Bahl, Vineeta Singh, Peyush Bansal, and Aman Gupta enjoyed the traditional flavors.
However, Anupam raised concerns about Kiran's ambitious valuation. Praising Kiran as the perfect "founder-market fit," he remarked, "Dar lag raha hai aap zyada hi smart ho (I fear you're too smart)."
Anupam then warned, "Rs 1 crore se kuch nahi hoga, you will run out of money in the next few months," before offering Rs 2 crore for a 5% stake, with a condition to raise an additional Rs 10 crore soon.
Vineeta and Aman also made offers, but Peyush and Kunal refrained, citing potential conflicts of interest due to their stakes in a competing brand, NOTO.
Aman proposed Rs 1 crore for 2% equity, which Kiran seemed to favor. Negotiating further, Kiran suggested 1.5%, to which Aman responded, "There's no difference between 1.5% and 2% in my eyes; I'm fine with it."
Sealing the deal, Aman called himself a "hero," while Peyush quipped, "This is exactly what you'll have to bear with now."
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