An innovative product by young entrepreneurs forces the 'sharks' to raise the stakes. Read to learn more.
The fourth season of Shark Tank India premiered on January 6, 2025, and already had its viewers intrigued. The immense talent and aspiration of young entrepreneurs have been the core of the show. While some have had trouble keeping their confidence in check, others have businesses and passions that go beyond the investments they seek. One such innovative product had two sharks lock horns.
Entrepreneurs, Abhimanyu and Ravi captured the 'sharks' attention with their innovative products on the latest episode of Shark Tank India 4. The duo pitched patent-pending air purifiers that can be attached to air conditioners and reduce pollutants by a massive 60 per cent. They introduced their brand as Airth and revealed that they are projecting revenue of Rs. 7 crore. They asked for Rs. 60 lakh in funding in exchange for 1 per cent equity, valuing Airth at Rs. 60 crore.
The 'sharks', including CMO of BoAt lifestyle, Aman Gupta, CEO of Lenskart, Peyush Bansal, co-founder and CEO of Sugar Cosmetics, Vineeta Singh and co-founder and CEO of People Group, Anupam Mittal, founder and CEO of ACKO, Varun Dua all were all impressed with the product. However, their opinion on the business aspect of the product didn't align. Further in the episode, the pitcher demonstrated the power of their filters. They showed the judges panel how drastically air quality can decrease once an air conditioner is modified with their product.
The results amazed Vineeta, and she was heard stating, "Itna dhamakedar demo pehli baar dekh rahe hain, mindblowing." The pitcher further revealed that they have a winter version and a summer version of the product, and buyers can use their air conditioners as fans in the winter with the purifier attached. They also revealed that their product wouldn't demand more electricity.
Varun Dua, curious about their product, asked the pitchers why the AC manufacturers wouldn't attach the filter themselves. Responding to the 'shark', Abhimanyu responded that this would add at least Rs. 12,000 to the per-unit cost. Vineeta offered them Rs. 60 lakh in exchange for 2 percent equity. However, Peyush revealed that the scattered cap table was not something he was comfortable with, so he was out. Varun followed Peyush's lead and also backed out. Nonetheless, the product had Anupam interested and stated, "Rs 60 lakh se kuch hoga nahi." and offered them Rs. 1 cr for 5% equity. Aman matched his offer.
Anupam changed his offer and said, "Tu Rs. 2 crore lele koi problem nai hai". He added that he wouldn't negotiate any further and asked them to strike a deal with Vineeta and Aman. They made a combined offer to the pitchers and offered Rs. 1 crore in exchange for 3.7 per cent equity. Anupam got back in the bidding war and offered Rs. 2 crores for 8 per cent. However, after a long bid, the pitchers accepted Aman and Vineeta's offer. Once they had left, Peyush expressed his surprise at Anupam and stated:
"You should have sealed it at 5%. I’ve seen you when you really want something, and you didn’t want this as badly."
What are your thoughts on the bidding war on Shark Tank India 4?
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