MUMBAI : Anupam Mittal's offer to a pitcher that Deepinder Goyal had turned down dramatically changed the course of the most recent Shark Tank India episode. The founder of Smotect introduced his product a chewable formula that could help smokers in quitting in the most recent episode to air. 

Gurseet Singh, the founder, made his pitch and asked for an investment of Rs 1 crore. Anupam volunteered to risk the money, but Deepinder rejected the idea, pointing out all the red signs.

(Also read: Shark Tank India 3: Can FarmDidi secure investment from sharks despite the absence of an action plan?

The pitcher claimed that his product had been successful and asked for an investment of Rs 1 crore in return for one percent equity. The presentation did not convince Deepinder. He posed numerous questions. He was asked when the product was developed, if and when the trials on the product took place, and details of the number of people who have been ‘cured’ by the product. Despite the pitcher saying that it was 95% product-successful, the Sharks were not impressed. If his doubts about the product weren’t already evident, the pitcher said that he runs a sculpting business simultaneously.

This led to Deepinder rejecting the pitch. Namita Thapar, Vineeta Singh, and Aman Gupta also turned down the pitch. However, Anupam was convinced by the product and offered to invest Rs Rs 50 lakh for 3 percent equity and Rs 50 lakhs as debt at 15 interest for 3 years. The move shocked everyone.

Season three of Shark Tank India premiered on January 22, 2024. Shark Tank India Season 3 saw the return of several well-known sharks from previous seasons, including Vineeta Singh, CEO of Sugar Cosmetics, Peyush Bansal, co-founder and CEO of Lenskart, Aman Gupta, cofounder of Boat, and Namita Thapar, executive director of Emcure Pharmaceuticals Limited.

Amit Jain, the CEO and co-founder of Car Dekho, Ritesh Agarwal, the founder of OYO, Azhar Iqubal, the co-founder and CEO of Inshorts, and Radhika Gupta, the CEO of Edelweiss Capital, joined them on the panel. Ronnie Screwvala, a film producer, just joined the program as well.

(Also read: Shark Tank India 3: Can FarmDidi secure investment from sharks despite the absence of an action plan?

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Credit- News 18