Shark Tank India Season 3 – THIS brand cracked a 5-shark deal worth Rs 2 crore in exchange for 4% equity

Those, who closely follow Shark Tank India, must be aware that it is not easy to crack a five-Shark deal on the business reality show. But the recent episode of the show saw pitchers of an eco-friendly brand come out of their comfort zone and crack the historic deal. Aman Gupta, Namita Thapar, Radhika Gupta, Azhar Iqubal, and Anupam Mittal were the Sharks on the panel. Here is what exactly happened.

5-shark deal of Rs 2 crore on Shark Tank India Season 3

During the latest episode of Shark Tank India Season 3, the spotlight was on the team from Canvaloop, a company specializing in biomaterial science. Canvaloop is known for its groundbreaking zero-waste technology that turns agricultural waste into textile fibers and yarns. The entrepreneurs were looking for a 1 crore investment in exchange for a 1.33% equity stake.

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While pitching the brand, the entrepreneurs mentioned that their fibres are used by Levis USA. Not only this, but the brand has also received funding from reputed companies like Reliance and TATA.

After the pitch, the Sharks grilled the pitchers Shreyas and Nandini with loads of questions. From knowing about manufacturing to throwing light on sales of products, the pitchers answered all the questions with confidence and grace.

Witnessing this development, Radhika, Aman, and Namita quietly huddled into a corner, while Azhar and Anupam continued to throw questions to the pitchers. Minutes later, Aman, Namita, and Radhika presented a combined offer of Rs 1 crore in exchange for 3% equity. Then, Azhar presented a better offer of Rs 1 crore in exchange for 2% equity.

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Anupam, meanwhile, continued with his question-and-answer session. During the chat, the pitcher Shreyas said that he plans to make Canvaloop into a Rs 2000 crore company in the next seven years. Anupam, later, presented the same offer as Azhar.

Feeling elated about the development, the pitchers asked whether they could crack an all five-Shark deal. The investors discussed the probabilities among themselves. Finally, Canvaloop cracked an all-Shark deal of Rs 2 crore in exchange for 4% equity.

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