New Delhi: Shark Tank India 2’s latest episode highlight saw a healthy food brand with the name of The Healthy Binge make an impressionable pitch to the sharks while another denim brand with the name Freakins get called out for many reasons.
As two founder of The Healthy Binge shared their backstories and how they developed a chips brand as an alternative to the unhealthy ones in the market, they impressed the judges with their approach and thoroughness. However, their dismal sales led the sharks to question their choices until Peyush Bansal finally made an offer to them at the asked valuation of Rs. 10 crores. Aman Gupta also joined the deal calling them extraordinary entrepreneurs who were also humble.
Another highlight of the episode was the denim brand Freakins which impressed the judges with their product. However, after the sales and equity structure was unveiled to the sharks, Anupam Mittal was quick to point out that their company was a ‘freakin mess’.
When the duo entrepreneurs spoke about their equity structure, the sharks were quite surprised with the split and their losses. The Freakins founder duo then explained their sales and burn but most sharks agreed that the debt run company was not investment friendly right now . However, they did add that the sharks might be interested a year after Freakins becomes profitable. And, after most sharks backed out, shark Vineeta Singh invested with Rs. 50 lakh with 2.5% equity with Rs. 20 lakh debt at 12% interest.
'Shark Tank India 2' is judged by Anupam Mittal (Founder and CEO of Shaadi.com - People Group), Aman Gupta (Co-Founder and CMO of boAt), Peyush Bansal (Founder and CEO of Lenskart.com), Namita Thapar (Executive Director of Emcure Pharmaceuticals), Vineeta Singh (Co-Founder and CEO of SUGAR Cosmetics), and Amit Jain (CEO and Co-founder of CarDekho Group and InsuranceDekho.com).
'Shark Tank India' streams from Monday to Friday at 10:00 PM.