'Shark Tank India 4' turned interesting when two plant nursery brands had the same ask from the 'sharks' but yielded completely opposite results.
Shark Tank India Season 4 has been winning hearts since the very first day. However, things got even more interesting as the latest episode of the show brought two plant nursery brands, Nurturing Green and Kyari, fighting tooth and nail for a deal from the 'sharks'.
The two brands had asked for almost similar things from the 'sharks'. However, their pitches were contrastingly different, eliciting an interesting set of responses from the judges' panel. The rules for either company were the same: they received the same time to pitch, they would go one after another, and the 'sharks' would only make their decision after both pitches were done.
The match-off began with Nurturing Green's Annu Grover taking the stage. The company had been in business for 14 years, while Saksham and Agam's Kyari had only started in 2022. Annu started his pitch with an emotional backstory about a bouquet going bad that inspired him to start his company, which focused on gifting and home gardening. He made claims to keep tabs on the plants with AI, which Anupam Mittal immediately dismissed. The 'shark' stated that for a third-party chatbot, Annu was overselling the use of AI in the company.
However, he had a clear idea of the market size, his company's presence in the market, and the vision to expand. He asked for Rs. 1 crore for 1 per cent of equity. Annu had a smooth sail until Namita Thapar stumped him for his quality check method. His comparison of a house plant with an iPhone further irked Namita, and soon enough, Anupam chipped in to shut down the former.
Nevertheless, the pitcher impressed 'shark' Vineeta with his lifetime warranty for plants idea. Given the steady growth of his business over the years, Annu was next questioned about the hefty amount of money he was taking away on salaries. In response, he promised to reduce the salaries from 10-17 per cent.
Next up on stage was Kyari, who asked for Rs. 80 lakhs for 0.8 per cent equity. In response to Anupam Mittal's question about them being able to achieve what Nurturing Green couldn't in over a decade, they revealed they understood supply and demand. The pitchers explained they have partnered with nurseries and invested in new products that would make plant parenting a much easier vocation.
They introduced self-watering pots, water indicators, and self-watering globes that can be fitted to any planters, which impressed the 'sharks'. Talking about their revenue, the pitchers revealed that they have been burning cash every year for several reasons. Despite the jaw-dropping evaluation, the pitchers only took Rs. 1 lakh every month as salary.
Vineeta was shocked about them being an industry with perishables, not having decent capital left to sustain the company, and keeping their employees' future at risk. Peyush pointed out their lack of knowledge about unit economics. With the risk of their business shutting down, they weren't able to give a proper explanation about their vision either.
When it came to making a decision, all sharks except Vineeta Singh cited different reasons and opted out of giving Nurturing Green an offer. Vineeta offered Rs. 50 lakhs for 1.25 per cent equity, and Rs. 50 lakhs debt at 10 per cent interest for 3 years, which Annu accepted. However, when it came to Kyari, Vinneta rejected them for 'risking employees' salary'. Anupam and Namita stepped back as well.
However, Peyush and Kunal offered strategic help. Kunal argued that 'fortunes are built in contrarian bets' and outrightly dismissed Anupam's claims that there was no market for plants. Kunal and Peyush offered four crores for 10 per cent of the company. However, the counteroffer didn't please either of the 'sharks', resulting in the pitchers being left without a deal.
What are your thoughts on the face-off on Shark Tank India 4?
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