Shark Tank India's Peyush Bansal shares an update on Jugaadu Kamlesh; see post

Peyush Bansal had offered Jugaadu Kamlesh Rs 10 lakh in return for 40 per cent equity in the firm KG Agrotech and an interest-free loan of Rs 20 lakh.

Peyush Bansal with Naru and Jugaadu Kamlesh

Peyush Bansal, Lenskart founder and one of the sharks on Shark Tank India, recently took to social media and shared an update on a contestant fondly called Jugaadu Kamlesh.

Kamlesh Nanasaheb Ghumarman and his nephew Naru, who belong to Malegaon, Maharashtra, had pitched an innovative hand-drawn pesticide spraying cart that he had developed over a span of eight years.

His idea drew most sharks, but it was Bansal who decided to invest Rs 10 lakh in return for 40 per cent equity in the firm KG Agrotech. On top of that, he also offered Kamlesh an interest-free loan of Rs 20 lakh, according to News18.

Bansal in an Instagram post, shared that everyone he meets these days wonder about Kamlesh's whereabouts. "We have initiated a process of design and consumer validation of the cart with help of a team of professional Industrial designers," he explained in the caption.

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Bansal added that the design team had visited Malegaon and spoken with different farmers, taken a look at different crops to figure out how to combat any structural issues that the concept may have.

Here is the post:

In February, Bansal had invited Kamlesh and Naru to his Delhi residence for lunch, and to discuss the future of their business deal. Kamlesh had shared a video of their meeting on YouTube.

Watch the video here:

Season 1 of Shark Tank India is available on SonyLIV.

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