PremiumShark Tank India: When Vineeta Singh told entrepreneurs 'Aapne safed haathi bana diya'
Co-founder of Sugar Cosmetics was giving feedback to a pitch about cradle for babies when she made the remark on the business reality show
Last Updated: 07.17 PM, Mar 24, 2022
Despite season one of Shark Tank India ending over a month ago, it still continues to make headlines. The fans of the show still recall the unique pitches on the business reality show.
The makers recently released a video, presenting another unique pitch on the show. The pitch was by three founders of Julaa, a multipurpose cradle for a baby. The Gujarati entrepreneurs have developed a cradle with several automatic features like a fan, swinging and weighing scale to help parents with the responsibilities of their newborn child. The cradle can be operated with an app on the mobile phone. They demanded Rs 50 lakh for a 10 per cent equity.
The founders revealed that they have patented the product and are launching it for the first time on the show. The pitch left all the sharks impressed and they had a fun banter with the pitchers. One of them said how his wife does not know about the product and that he has come on the show. "Maine kaha main ghumne ja raha hu. Aurat ke pet mein koi baat nahi rehti na," said Patel. This got the sharks, including three women - Vineeta Singh, Namita Thapar and Ghazal Alagh - all cracked up.
Though the sharks were inspired and impressed by the dedication of the group, which has been working on it for seven years, they decided not to invest in it. They realised that the production cost and selling price of the product are very high. The trio had invested all their life savings of Rs 25 lakh on developing the product. Vineet Singh, CEO of Sugar Cosmetics, made an excuse saying it has too many features which will not be required for a customer. She said considering if a customer pays Rs 80,000 to Rs 1 lakh for it, he or she must be rich and that would mean they would already have an AC and other features in the house. She added that they will not pay for a cradle with additional features that they already have access to. While sharing her feedback, she said, "I am sorry to say this. Par aapne safed haathi bana diya." Other sharks too agreed with her, except Anupam Mittal, co-founder of Shaadi.com. But he too refused to invest at the moment due to high costs.
Peyush Bansal gave an insight to them that they could either try and reduce the cost or sell the design to some company that can take the product to international markets. "Is show pe aane ke baad, companies khud aapke paas aayegi," he said. The sharks wished them all the best and the three left the show, saying they'd consider Bansal's suggestion.
Shark Tank India is the official adaptation of the US business reality show, Shark Tank. Season one of the show was hosted by Rannvijay Singha and had Aman Gupta (co-founder and chief marketing officer of boAt), Anupam Mittal (founder and CEO of Shaadi.com), Namita Thapar (executive director of Emcure Pharmaceuticals), Vineeta Singh (CEO and co-founder of SUGAR Cosmetics), Peyush Bansal (co-founder and CEO of Lenskart) and Ghazal Alagh (Co-founder and Chief Mama of MamaEarth) on its panel.
The show is available to stream on SonyLIV.