Shark Tank India: When entrepreneurs didn't get a deal from sharks but were confident that they'll take over sharks' seats someday

Shark Tank India has become a dinner table talk for many households in India. The show was one of a kind business reality show, adapted from the US show, Shark Tank. Season one ended earlier last month and yet, it continues to make headlines. The makers share the videos of unique pitches and memorable moments on the show, which has been getting several hits and comments. One such video, dropped recently by the makers, shows budding entrepreneurs pitching their business model to the sharks. Though they did not get any investment, they were confident that someday, they'll replace the sharks on the show. 

On the show, six founders of a startup, Aliste Technologies, were pitching their home automation product. The pitch was fun as they are seen recreating the real-life situation that they faced while they were living together during their college days - who will switch on the AC? The judges can be seen bursting into laughter and enjoying their pitch. Anupam Mittal, CEO and founder of Shaadi.com joins them and the founders joke that he is already a part of their young team. Ghazal Alagh, co-founder and Chief Mama of MamaEarth, asked them if they meant that the other sharks are not young enough, one of the startup founders said if they think they are, they'd be a part of the team too. Their product recognises voice and performs smart tasks like turning off the light, much like Amazon's Alexa and other smart home products.

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The episode was also being judged by Namita Thapar (executive director of Emcure Pharmaceuticals), Vineeta Singh (CEO and co-founder of SUGAR Cosmetics) and Peyush Bansal (co-founder and CEO of Lenskart). The sharks refused to offer a deal as they had reservations if the company can make it in the highly competitive market of home automation, which is led by Google, Apple and Amazon. But Anupam was too impressed by their enthusiasm and made an offer of Rs 10 lakh for 10 per cent equity and Rs 50 lakh as a loan with 12 per cent interest. The six founders discussed the deal among themselves and made a counteroffer of Rs 85 lakh for 10 per cent equity. Anupam found it too risky and politely denied it. 

But the sharks said they are impressed with their enthusiasm and hoped that they didn't feel bad that they didn't get any investment. One of the founders said they don't and revealed their desire of taking over the seats of the sharks someday. Namita responded, 'that's the confidence'. 

The show, hosted by Roadies fame Rannvijay Singha, was also judged by Aman Gupta (co-founder and chief marketing officer of boAt) and Ashneer Grover, who recently resigned from his company, BharatPE. The show has several such interesting pitches, which share some valuable information about the business world. Catch more videos and the entire show on SonyLIV.