Shark Tank India 2: Vineeta Singh and Namita Thapar offer Rs 85 lakh to women entrepreneur pitchers selling pickles after they got rejected last year

The second season of hugely popular business-based reality show Shark Tank India premiered on Monday (January 2). The episode began with a video montage of two women entrepreneurs Uma Jha and Kalpana Jha, who are the co-founders of a pickle and chutney brand.

The sisters-in-law became hugely popular after they pitched their business on Shark Tank India's last season but unfortunately got rejected. This year, Sharks Vineeta Singh and Namita Thapar paid a surprise visit to them. Their business had exponentially grown after their exposure on the show and Vineeta and Namita recalled regretting their decision of not investing in them.

Namita shared, “The good thing about regret is you get to rectify them.” Vineeta also shared that her mother questioned her for not supporting women entrepreneurs and not investing in their company. So Namita and Vineeta gave them Rs. 85 lakh to support their business. For the unversed, in the previous season, they had asked for Rs 50 lakh and 10% equity.

The first episode begins with entrepreneurs Yeshoda Karuturi and Rhea Kaurturi, from Bengaluru, who sell puja flowers and incense sticks. The USP of their brand is the shelf life of flowers, which stay fresh for 15 days instead of the usual 2-3 days shelf life. Their business projection and the technique they use impress the shark.

The sisters reveal that their family has also been in the flower industry and while talking to their parents, they came across the problem of shelf life. They went abroad to complete their college and came back with the business idea.

They offer 1% of their company for Rs 80 Lakh. Namita and Vineeta make their first offer of Rs 40 lakh for 4% equity and Rs 40 lakh debt at 12% interest (Valuation of Rs 10 crore). The pitchers then inform that their valuation is Rs 50 crore. Aman and Peyush make an offer of Rs 1 crore for 2% equity. Namita and Vineeta revise their offer to Rs 50 lakh for 1% equity and Rs 30 lakh debt at 12% interest. The sisters select Peyush and Aman’s offer.

Sparsh Agarwal and Ishaan Kanoria, bring a range of teas straight from Darjeeling. They also organise tea tasting. They ask Anupam Mittal to join them for the session and also make them understand the intricate details of how their tea is made at the Selim hill tea garden.

Anupam then goes to serve the tea to the sharks and Namita jokes, “Hume ladka pasand hai.” However, Namita questions their decision to sell Darjeeling tea to a land, where people love milk tea and cutting chai. They confidently win over with their business vision.

Their ask is Rs 30 lakh for 5% equity with valuation of Rs 3 crore. Vineeta offers them Rs 30 lakh for 10% equity. Namita is out saying their vision doesn’t match with hers as she is a milk tea person. Anupam and Peyush wish to join in Vineeta’s offer for 15% equity and as a strategic investor.

Anupam tells them it’s a non-negotiable offer and Vineeta tells them that atleast he should allow them to make their offer. Anupam tells that he can go till 12%. However, Sparsh and Ishaan agree to their offer.

The third pitchers of the day happen to be from a cosmetic brand. Dheeraj Bansal and Rahul Sachdeva pitch their range of everyday make-up products. Vineeta, who is the CEO of a very well-known cosmetic brand Sugar, says, “Let me first clear, main iss industry ki gundi nahi hu.” Namita and Aman step out saying, “We won’t be investing in a company, which happens to be our friend’s (Vineeta) competitor."

They share how they decided to build their company in two hours of discussion. They also impress the Sharks with their profit margins and marketing strategies. However, seeing the brand packing of one item, Aman calls it bad. They promise to rework on the packaging.

The pitchers tell them that they have over 2 lakh followers on Instagram. Aman asks Vineeta, ‘Aap ke kitne hai?’ Vineeta responds, “30 lakh, ab bolo.”

Though Peyush feels they have a good business strategy, he advises them to better their branding. He is also out of the proposal. Vineeta wishes them good luck saying that since she is already in the same business, she can’t partner with them.

Anupam still tries to understand the business and applauds their effort. All the five sharks announce they are out of the proposal but they express how impressive the pitchers were.