Shark Tank India 4: Cograd founders questioned for lack of focus, secure Rs 1 crore deal amid tough negotiations

The latest episode of Shark Tank India Season 4 featured Cograd, a social startup dedicated to providing affordable quality education to students and training for teachers in villages.

The latest episode of Shark Tank India Season 4 featured Cograd, a social startup dedicated to providing affordable quality education to students and training for teachers in villages.

Founded in 2021 by IIT and NIT alumni Himanshu Chaurasia and Saurabh Yadav, Cograd operates by renting closed schools and transforming them into modern learning centers. Their pitch sought Rs 1 crore for 2% equity.

Cograd currently runs five schools for students from Class 1 to 8. The founders showcased images of their village schools, prompting Anupam Mittal to humorously remark, "Humne picturein kuch zyada he dekh li, maine kuch aur he visual kiya, pedh ke neeche bacche baithe hue hain. Mera khud ka ab school jaane ka mann ho raha hai."

Their students actively participate in competitions and conclaves at prestigRitesh Agarwal ious Indian universities. Listening to their success stories, admitted, "Mere rongte khade ho gaye aapki baatein sun kar."

Cograd recruits teachers through the Jawahar Navodaya Vidyalaya (JNV) alumni network and envisions scaling up to 1,000 schools. However, a crucial revelation caused the Sharks to raise concerns—80% of their revenue comes from non-scalable business activities like skill and teacher training.

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Ritesh questioned if their school business was running at a loss, as it appeared they were prioritizing other ventures. The founders admitted to pursuing other opportunities but insisted they planned to resume expansion. Kunal Bahl, however, took a dig at them, asking, "Isiliye toh nahi ke ghar aayi Lakshmi ko mana nahi kar paa rahe?"

Anupam pointed out that with their goal of opening 1,000 schools, they should have focused on expansion. When Kunal pressed them on how many schools they had opened this year, they admitted to none. The Sharks then debated whether they lacked clarity in their mission.

Kunal advised them on a common entrepreneurial trap—starting with a strong vision but getting sidetracked by financial incentives. He and Anupam ultimately backed out, citing a lack of direction.

However, Vineeta Singh was moved by their initiative and shared a personal anecdote about her father, who overcame childhood struggles to become a renowned AIIMS scientist.

She emphasised how education is the most significant opportunity for a better life. Inspired by their cause, she offered Rs 50 lakh for 10% equity plus Rs 50 lakh in debt at 10% interest over three years, provided they focus solely on schooling.

Ritesh and Namita Thapar also stepped in with a competing offer—Rs 50 lakh for 5% equity plus Rs 50 lakh in debt at 9% interest, with the same condition of focusing on school expansion.

Himanshu and Saurabh countered with Rs 50 lakh for 2.5% equity and Rs 50 lakh in debt, which was negotiated to Rs 50 lakh for 6% equity plus Rs 50 lakh in debt at 9% interest. The deal was finalised with Ritesh, Vineeta, and Namita backing Cograd’s mission.

Despite facing scrutiny, Cograd managed to secure the funds, but the episode left lingering questions about their true commitment to expanding rural education.