The startup wave in India is soaring high in the present times. In every corner, district, city, state, there is a budding entrepreneur who is trying to make their mark.
We all have been hearing the term startup quite a lot in the last decade. We recently saw the ideas and innovations happening in India in the show Shark Tank India.
The show gained huge popularity and became one of the favorite shows of the Indian audience in no time. The entrepreneurs, their ideas, and the judges, everything seemed top-notch in the show.
Many startups received funding from the sharks. But there are also many others that did not make a deal but still turned out to be successful.
What is Shark Tank?
It is a business reality television series based in America. It was aired for the first time on ABC (American Broadcasting Company) in the year 2009. This show has two sides of people- the entrepreneurs and the investors (also known as Sharks).
In this show, various selected entrepreneurs make pitches for their businesses in order to attract investments from the sharks. The exclusive and profitable ideas that catch the eyes of the sharks get to have an investment deal.
Inspired by this, India launched its version of Shark Tank India. The very first season of the show premiered for the first time on 20th December 2021 on Sony Entertainment Television.
In this season, seven sharks (investors) made an appearance and bagged various deals. The sharks included:
- Namita Thapar, CEO of Emcure Pharmaceuticals
- Vineeta Singh, CEO of Sugar Cosmetics
- Ghazal Alagh, Co-Founder at MamaEarth
- Aman Gupta, Co-Founder, and CMO of Boat
- Anupam Mittal, Founder of Shaadi.com, Mauj, and more
- Ashneer Grover, Previously MD and Co-Founder at BharatPe
- Peyush Bansal, CEO and Founder at Lenskart
Successful Startups Rejected in Shark Tank India
The show’s first season turned out to be a huge success for both the sharks and the entrepreneurs. The show received 62,000 entries from various applicants in this very first season. Out of this only 198 businesses got selected to make their pitches in front of the sharks. 67 out of these 198 business pitches were able to bag a deal with them.
However, there were certain startup ideas that could not bag a deal yet are working successfully. Here are the top successful startups that got rejected on the show:
- Moonshine
- Urban Monkey
- Morriko Foods
- ExperientialEtc
- Agri Tourism
- Torch-it
- Shades of Spring
- Green Protein
- PDD Falcon
- Kunafa World
Moonshine
Founded: 2016
Valuation: INR 160 Crores
It is Asia and India’s first meadery founded in the year 2016. The founders of the startup are Rohan Rehani and Nitin Vishwas. Meads is the oldest alcoholic beverage. The startup appeared on the show with a valuation of INR 160 crores.
The beverage is created by fermenting honey with various fruits and spices. There are no added artificial flavors or colors in the meads.
The founders asked for INR 80 lakhs in exchange for 0.5% equity in the company. Even though all the sharks were interested, the founders did not find the counter offer appealing, and thus, the deal got rejected.
Urban Monkey
Founded: 2013
Valuation: INR 100 Crores
It is a streetwear fashion brand that started in 2013 in Mumbai. Yash Gangwal is the founder of the startup. The target audience for the brand is the young aged people of India. It appeared in the show with a valuation of 100 crores INR.
The products of the brand include caps, sunglasses, belts, backpacks, clothing, and more The products have been liked and used by celebrities like Rannvijay Singha, Raftaar, etc.
Yash asked for a 1 crore investment in exchange for 1% equity. Even though the brand is working successfully, the sharks rejected the deal.
Morriko Foods
Founded: 2017
Valuation: INR 33.33 Crores
Morriko pure foods is a startup based in Gujarat. It specializes in solar dehydrated fruits and vegetable powders. It was established as Kamdhenu Foods in the year 2002 by Shri Bipin Shah and the brand Morriko started in 2017. The founders also include Tanmay Shah and Kalyani Shah.
The startup aims to promote healthy snacking with its products. They have a variety of products like mango chunks, guava chunks, drumstick powder, herbal teas, and more. It appeared on the show with a valuation of INR 33.33 crores.
The startup asked for 1 crore INR for 3% equity. There were counter offers but the founders, however, rejected them.
ExperientialEtc
Founded: 2017
Valuation: INR 50 Crores
Another startup is this top experiential marketing agency that develops world-class experiences. The startup was founded in 2017 by Karan Bhardwaj and Prashant Pandey and is based in Mumbai. It has a Net worth of INR 50 crores.
The startup enhances communication by using 3D holographic displays, projection mappings, life-size kinetic structures, and magical LEDs. It also uses machine language, interactive videos, etc, when the requirements are digital.
The startup asked for 2 crores INR for 4% equity in the company. The sharks were pretty fascinated with the idea but still rejected this great deal.
Agri Tourism
Founded: 2003
Valuation: INR 40 Crores
The startup provides a fascinating tourism experience in agriculture. Pandurang Taware started this in the year 2003, based in Maharashtra. It has a Net worth of INR 40 crores. It connects the tourists directly with the farmers. This enhances the experience for both.
The startup takes care of the food and amenities of the tourists to complement their stays in the villages. The market for agriculture tourism is gaining popularity in India, which makes this quite a successful startup today.
The founder asked for INR 50 lakhs for 5% equity. The startup however got rejected by the sharks.
Ashwini
Torch-it
Founded: 2016
Valuation: INR 75 Crores
The startup develops disability assistive devices to create a sustainable ecosystem that promotes inclusive growth. It was founded in 2016 by Hunny Bhagchandani and Mohit Chelani. The startup has a valuation of 75 crores INR.
Its devices use ultrasonic sensors to indicate how close or far the objects are. This helps visually impaired people to easily navigate their way.
The demand was for 75 lakhs INR for 1% equity in the company. The investors were inspired by the idea but the startup got rejected for the investment.
Shades of Spring
Founded: 2018
Valuation: INR 300 Crores
It is a brand that deals in flower giftings. It started in the year 2018 by Nidhi Gupta and Anju Bhagat. The startup is based in Bengaluru. It offers farm-fresh flowers for special occasions as well as in subscription models.
The startup offers more than five hundred varieties of fresh flowers produced by Indian farmers. It provides weekly and monthly flower subscription models, luxury bouquets, hand-tied bouquets, and more.
The demand was for 3 crores INR for 1% equity in their company. According to this, the valuation stands at 300 crores INR. The startup has been super successful even before the appearance on the show yet got rejected by the sharks.
Green Protein
Founded: 2020
Valuation: INR 30 Crores
It is a plant-based protein beverage startup, that started in 2020. The founders of the startup are Madhvi Datwani, Parag Khimani, and Parigna Thorat. The valuation stands at 30 crore INR. The startup makes plant-based vegan, cruelty-free and tempting products.
Its products are available in six fruit flavors and three smoothie flavors. These products have no-added-sugar and do not need any special blenders as it is easily mixed with water.
The founders asked for 60 lakhs INR for 2% equity. Certain counter offers were made by the sharks but in the end, the deal got rejected.
Damini Bhandary
PDD Falcon
Founded: 2020
Valuation: INR 25 Crores
The startup deals in environment-friendly stainless-steel products. It was started in 2020 by Sneha Visaria and Chirag Visaria. It has its headquarters in Mumbai. The valuation of the startup is INR 25 crores.
It offers a variety of more than three hundred stainless-steel products that are made in India. The products include tiffin boxes, air-tight containers, bottles, straws, and more.
The founders asked for 75 lakhs INR for 3% equity. Even with good business and great products, the deal was rejected.
Kunafa World
Founded: 2019
Valuation: INR 18 Crores
The startup deals in a traditional middle east dessert, Kunafa. Jameela Ruhi and Zamzeer Ahamad launched this in the year 2019. The headquarters are in Bengaluru. The valuation of the startup is 18 crores INR.
The dessert is made with semolina dough and is soaked in sugar-based syrup, and gives a great cheese and cream filling. It is an exquisite dessert that is now available in India in more than fifteen varieties because of this startup.
The founders asked for 90 lakhs INR for 5% equity. The sharks were mesmerized by the taste by decided to reject the deal.
Conclusion
Shark Tank’s debut in India turned out to be of great success. Several entrepreneurs were able to bag amazing deals of investments from the sharks. However, there were other startups that could not get an investment. Either they could not impress the sharks or could not come to a mutual deal.
The above-mentioned startups like Moonshine, Shades of Spring, and more got rejected for the investment but still are working well and being amazingly successful in their arenas.
FAQs
Which are the top startups rejected in Shark Tank India?
Some of the successful startups rejected in Shark Tank India are:
- Moonshine
- Morriko Foods
- ExperientialEtc
- Agri Tourism
- Torch-it
- Shades of Spring
- Green Protein
- PDD Falcon
- Kunafa World
- Urban Monkey
How many Startups were chosen for the pitch in Shark Tank India?
198 registered startups were chosen for pitching in Shark Tank India.
How many startups got deals in Shark Tank India?
67 Startups got deals in Shark Tank India.
Which is the biggest deal in Shark Tank India?
Some of the biggest deals in Shark Tank India are:
- AAS Vidyalaya - INR 1.5 Crore
- Annie by Tinkerbell Labs - INR 1.05 Crores
- Skippi Icepops - INR 1 Crore
- Sunfox Technologies - INR 1 Crore
- Get-A-Whey - INR 1 Crore
- The Yarn Bazaar - INR 1 Crore
- Hammer Lifestyle - INR 1 Crore
- IN A CAN - INR 1 Crore