Shark Tank India 5: Rimigo founders reject Anupam Mittal's offer and later strike a deal with Shaily Mehrotra

Shark Tank season 5 latest episode

• Rimigo founders struck a deal with Shaily Mehrotra for 1.5% equity
• Sharks criticized Rimigo's poor research and competition awareness
• Rimigo provides AI travel recommendations for memorable trips

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The latest episode of Shark Tank India 5 delivered plenty of drama as Rimigo founders took the Sharks on a rollercoaster ride.

The Bengaluru-based entrepreneurs initially tempted Anupam Mittal with a Rs 100 crore opportunity connected to Shaadi.com, only to eventually lock the deal with Shaily Mehrotra.

Rimigo, an AI-powered travel platform, offers curated travel recommendations and suggests activities to make trips memorable. The company was founded by three college friends — Aditya Shirole, Sahil Sharma, and Shubham Chintalwar — who asked for Rs 1 crore in exchange for 1 percent equity, valuing Rimigo at Rs 100 crore.

The founders shared that their first venture, Gig India, had been sold to PhonePe, earning investors 30 times their money. Gig India had provided online employment opportunities to over 10 lakh people across Tier 2 and 3 cities, though the company was later shut down due to strategic changes at PhonePe.

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During the pitch, Rimigo founders revealed that this was their second venture and that their earlier company called GigIndia, they sold to PhonePe.   When all the sharks asked for details,  the founders refused by saying it was confidential.

Aman Gupta then said:  “Please bata de," he said, while Anupam Mittal added jokingly, “Main utaavla ho raha hu yaar."

Gaps in research  - Namita calls them arrogant

As the pitch unfolded, the Sharks pressed for details about competition and business strategy. When the founders admitted gaps in their research, Namita Thapar did not hold back: “When a founder is not aware of competition, I think it reeks of arrogance. You are so full of yourself that you are not looking outside, because only the paranoid survive. You have to know who else is doing what you are doing.”

Aman Gupta added his critique, saying, “I can only see artificial in this and no intelligence,” questioning the innovation behind the AI platform.

Even after Anupam Mittal highlighted Rimigo’s potential to collaborate with Shaadi.com for honeymoon planning — which could bring returns worth Rs 100 crore — the founders chose not to take his offer.

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He had proposed Rs 1 crore for 2.86 percent equity, valuing the company at Rs 35 crore, but the negotiation stalled.

Shaily Mehrotra stepped in with a strategic offer, recognising Rimigo’s appeal to travellers, especially from Tier 2 cities. She offered Rs 1 crore for 2 percent equity, and after a brief negotiation over the stake, the founders agreed to 1.5 percent, finally sealing the deal.