MUMBAI : With a few new "sharks" on the cast, Shark Tank India's third season debuted recently. Two businessmen from Ahmedabad, particularly Peyush Bansal, dazzled the sharks with their affordable hearing aid pitch in a recent episode. In exchange for 1% equity, Kanishka and Raj proposed their brand, WeHear, and requested finance of Rs 2.5 crore.
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The pitch impressed the sharks, but they weren't completely convinced over, especially considering how much money was being demanded. Anupam Mittal quizzed the pitchers on several topics. The "unconventional funding" that the pitchers had previously obtained was one of his main worries. Aman inquired about the other investors as well, not knowing their names.
The asking price also caused some concern for Vineeta Singh and Ritesh Agarwal. All of the sharks eventually withdrew, except for Peyush Bansal. As he opted out, Anupam remarked, "“Aap bohot tigdambaaz ho (You seem very fishy),” Vineeta also changed her mind and stated, “As an investment, the returns will not justify the entry valuation.”
Rejecting the agreement, Ritesh opinioned, “If I invest in this, it will need a significant amount of my time.” According to Aman Gupta, the request was "too expensive."
Peyush asked about the pitchers' plans for pricing him as an investor, even though he was the only shark who appeared interested in the deal. In exchange for 2.5 percent equity of which 1.5 percent would be advisory equity, he promised them funding of Rs 2.5 crore. As he gave the pitchers the check, they assured him that he would receive huge profits.
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Credit- The Indian Express
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